FinecoBank Review

A new broker with great potential

Pros

Cons

50 commission-free trades

To be used in the first two months. You can either use the promo-code FINECO-FA or register by clicking the right button.

Contents

Introduction

Fineco has been a market leader in Europe in online trading since 1999, and is one of Europe's largest banks. After being in business for over 20 years, FinecoBank has accumulated 81.4 billion euro in financial assets and a growing customer base of over 1.3 million clients. Fineco has its origin in Italy and their goal is to bring users that one-of-a-kind online trading experience. This broker is known for its low prices and wide product range. You can trade CFDs, futures, stocks, currencies, bonds, ETFs, options, mutual funds and more. Fineco processes more than 30 million orders every year and offers multicurrency accounts.

Fineco is not just online trading. When you open an account you can also ask for a GBP or EUR Debit card without monthly costs on the first card and access smart banking services.

FinecoBank is new in the UK but has already won some interesting prices. The London Forex Show awarded Fineco as Best trading tools, Best trading platform and Best provider of the year. They were also awarded by the British Government for the UK-Italy Business Awards.

Target audience

FinecoBank has a big target audience due to its great range of trading instruments. Both CFD and equity investors are well placed with Fineco Bank. The low prices also make this broker attractive to the cost-conscious investor.

Is FinecoBank reliable?

Fineco has a solid background with a trading experience for over 20 years and is regulated by the FCA.

Customer experiences on Trustpilot
4.2/5
The ratings on trustpilot are generally very positive. On Trustpilot they get a score of 4.2/5 which is very good. Customers praise the helpful and fast customer service. Some negative reviews are about the availability of FinecoBank in other countries.

Trading instruments

The product range of FinecoBank is very broad as mentioned before. You can trade stocks, ETFs, forex, funds, bonds, options, futures and CFDs. Unfortunately FinecoBank does not offer crytocurrencies.

Stocks

0
markets

Options

0
markets

Forex

0
pairs

Futures

0
markets

Funds

0
providers

Bonds

0
#

ETFs

0
#

CFDs selection:

Forex

0
pairs

Stocks

0
#

Commodities

0
#

Indices

0
#

Bonds

0
#

Trading platform

FinecoBank has several innovative platforms available to offer a suitable platform for every device you use.

Fees and commissions

Below, common transactions with associated transaction costs from different brokers are compared. The amount of service fee or custody fee of different brokers is also compared. Check out the comparison page for a complete fee comparison of all brokers.

The rates for investing in shares at FinecoBank are lower than with other stock brokers, as you can see in the stock broker comparison table below. Only DEGIRO is cheaper in some cases. You also don't pay an inactivity fee, custody fee or a deposit and withdrawal fee.

Shares £1.000

Shares £10.000

Service fee £10.000

£2.95

£2.95

£0

£1.89

£3.15

£0

£11.95

£11.95

£0

£7.99

£7.99

€9.99 PM

£9

£19

£12 PM

CFD fees

Below are the costs of a number of common transactions with different CFD brokers. These are long 20:1 CFD and 30:1 forex positions held for 1 week (source: brokerchooser.com). For a complete cost comparison you can check out the CFD comparison page. The spreads on CFDs are low in general as you can see in the table below.

£2.000 Apple CFD

£2.000 Europe 50 Index CFD

£20.000 EUR/USD 

£20.000 GBP/USD 

£0.90

£1.60

£17.30

£18.20

£6.30

£2.70

£19.60

£16.20

£8.90

£1.30

£17.90

£14

£6.40

£2.50

£24.50

£25

£3.40

£2.40

£17.10

£13.80

Demo account

Unfortunately FinecoBank does not offer a demo account. However, there are webinars, educational videos and platform tutorials available for education.

In short

FinecoBank is quite comparable to IG Markets. They also offer CFDs and shares on one platform, and have a big product range. However the fees and commissions at FinecoBank are lower than they are at IG Markets. FinecoBank is a new broker in the United Kingdom and is therefore not very known. However, it is reliable, cheap, professional and therefore has great potential.

£ 0
per year*

# Active investors

1,300,000

Money guaranteed

£85,000

Reliability

5/5

Securities lending

No

Mobile app

Demo account

Minimum deposit

£1

Fees

4.5/5

Shares

£2.95 – $/€3.95

Options

$2.50

Leveraged products

Futures

$0.70

Funds or trusts

0.25%

ETFs

£2.95 – $/€3.95

Telephone order

£0

Service fee

£0

Forex

CFDs

Cryptocurrencies

Customer service

5/5

Education

4/5

Usability

5/5

Trading platform

4.5/5

Bank transfer

Credit card

PayPal

300x250.png

Compare FinecoBank with other share dealing brokers

£ 0
per year*

# Active investors

400,000

Money guaranteed

£20,000

Reliability

4/5

Securities lending

Yes

Mobile app

Demo account

Minimum deposit

£1

Fees

5/5

Shares

£1.75 + 0.014%

Options

€0,75

Leveraged products

£1.75 + 0.014%

Futures

€0.75

Funds or trusts

€0-€7,50+0,10%

ETFs

€2 + 0.03%

Telephone order

£8.50

Service fee

€0

Forex

CFDs

Cryptocurrencies

Customer service

4/5

Education

3/5

Usability

5/5

Trading platform

4/5

Bank transfer

Credit card

PayPal

£ 0
per year*

# Active investors

300,000

Money guaranteed

£85,000

Reliability

5/5

Securities lending

No

Mobile app

Minimum deposit

£1

Fees

4/5

Shares

£7.99

Options

Leveraged products

Futures

Funds or trusts

£7.99

ETFs

£7.99

Telephone order

£49

Service fee

£9.99 PM

Forex

CFDs

Cryptocurrencies

Customer service

5/5

Education

2/5

Usability

5/5

Trading platform

4/5

Bank transfer

Credit card

PayPal

£ 0
per year*

# Active investors

178,000

Money guaranteed

£85,000

Reliability

5/5

Securities lending

No

Mobile app

Minimum deposit

£450

Fees

4/5

Shares

£3 – £8

Options

£0.10

Leveraged products

Futures

Funds or trusts

£8

ETFs

£8

Telephone order

£40

Service fee

£24 PQ – paid commissions

Forex

CFDs

Cryptocurrencies

Customer service

5/5

Education

5/5

Usability

4/5

Trading platform

5/5

Bank transfer

Credit card

PayPal

£ 0
per year*

# Active investors

1,300,000

Money guaranteed

£85,000

Reliability

5/5

Securities lending

No

Mobile app

Demo account

Minimum deposit

£1

Fees

4.5/5

Shares

£2.95 – $/€3.95

Options

$2.50

Leveraged products

Futures

$0.70

Funds or trusts

0.25%

ETFs

£2.95 – $/€3.95

Telephone order

£0

Service fee

£0

Forex

CFDs

Cryptocurrencies

Customer service

5/5

Education

4/5

Usability

5/5

Trading platform

4.5/5

Bank transfer

Credit card

PayPal

* Estimated annual costs with £10,000 one-time investment, £100 monthly investment and an average investment profile. Investing involves risks of losses.

Compare FinecoBank with other CFD brokers

£ 0
minimum deposit

# Active investors

Unknown

Reliability

4/5

Trading platform

4.5/5
  • MetaTrader 4
  • MetaTrader 5
  • Social platform
  • Type of investor

Active

  • Functions

Professio-nal

  • Mobile app

Spreads

Low

Spread EUR/USD*

0.5

Tradable assets

2,200

CFDs in shares

2,000

CFDs in forex

67 pairs

CFDs in cryptos

6

CFDs in commodities

26

CFDs in indices

43

CFDs in ETFs

57

Loss-making investors

75%

Customer service

3.5/5

Education

5/5

Usability

4.5/5

Inactivity fee

£10 PM after 3 months

Bank transfer

Credit card

PayPal

£ 0
minimum deposit

# Active investors

200,000

Reliability

4/5

Trading platform

4/5
  • MetaTrader 4
  • MetaTrader 5
  • Social platform
  • Type of investor

Beginner

  • Functions

Average

  • Mobile app

Spreads

Low

Spread EUR/USD*

0.6

Tradable assets

2,000

CFDs in shares

1,900

CFDs in forex

50 pairs

CFDs in cryptos

14

CFDs in commodities

22

CFDs in indices

30

CFDs in ETFs

95

Loss-making investors

76.4%

Customer service

4/5

Education

4/5

Usability

5/5

Inactivity fee

£10 PM after 3 months

Bankoverschrijving

Creditcard

PayPal

£ 0
minimum deposit

# Active investors

400,000

Reliability

4/5

Trading platform

4.5/5
  • MetaTrader 4
  • MetaTrader 5
  • Social platform
  • Type of investor

Allround

  • Functions

Average

  • Mobile app

Spreads

Average

Spread EUR/USD*

3

Tradable assets

1,200

CFDs in shares

1,000

CFDs in forex

57 pairs

CFDs in cryptos

92

CFDs in commodities

13

CFDs in indices

13

CFDs in ETFs

21

Loss-making investors

75%

Customer service

4/5

Education

3/5

Usability

5/5

Inactivity fee

£10 PM after 1 year

Bankoverschrijving

Creditcard

PayPal

£ 0
minimum deposit

# Active investors

300,000

Reliability

5/5

Trading platform

4.5/5
  • MetaTrader 4
  • MetaTrader 5
  • Social platform
  • Type of investor

Allround

  • Functions

Average

  • Mobile app
  • Demo account

Spreads

Low

Spread EUR/USD*

0.8

Tradable assets

700

CFDs in shares

540

CFDs in forex

54 pairs

CFDs in cryptos

CFDs in commodities

10

CFDs in indices

16

CFDs in ETFs

?

Loss-making investors

69.7%

Customer service

5/5

Education

4/5

Usability

5/5

Inactivity fee

£0

Bankoverschrijving

Creditcard

PayPal

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.