Fineco Review

FinecoBank offers forex and CFDs across its brands regulated in the U.K. and Italy. Fineco offers a wide variety of assets , in addition to forex and CFDs. Only EU and Italian clients can open an online trading account with FinecoBank.

Fineco pros & cons

Pros

• Traded on the Italian stock market (BIT: FTK).

• Member of the National Compensation Fund and the National Interbank Deposit Guarantee Fund in Italy.

• Has guaranteed stop-loss orders (GSLOs).

• Competitive pricing on indices at CFDs.

• Offers a larger variety of over 10,000 tradeble assets, including on forex and shares.

• Has managed investment options.

• Holds over 100 EUR billion in assets. Also hasmore than 1.4 million customers.

• Content for English speakers has expanded significantly for research and education.

• Has a good web platform, and advanced charts for forex traders.

• Offers numerous trading platforms, inlcuding FinecoX powered by ChartIQ, and the PowerDesk dekstop platform.

• Offers news headlines from Thomson Reuters.

Cons

• does not have daily market analysis across platforms and website.

• Has a limit of lots allowed to trade.

• No Demo/virtual accounts .

• Must be a resident of Italy or the U.K. to open an account online.

• EU residents must be present at a physical branch to open an account.

• Economic calendar on mobile app is not as updated as web version.

Offering of investments

FinecoBank offers 54 forex pairs and 126 CFDs across indices, bonds, commodities, and popular shares, along with access to non-CFD share trading on international and US exchanges.

Cryptocurrency: Cryptocurrency trading is not available.

Commissions and fees

Fineco does not publish average spread data for forex and CFD trading – making it difficult to assess its true trading costs.

It’s worth noting that Fineco appears to offer lower spreads on its index CFDs if it does not publish average spread charges.