Is it Safe?
It is crucial to read the broker review before trading with the broker. You can find the FinecoBank review in detail below. With a fairly good trust score (88/99), FinecoBank is a minimal-risk broker. It is a publicly-traded company that also runs a bank. One tier-1 Authority (FCA), zero tier-2 authorities, and zero tier-3 regulatory authorities have approved FinecoBank.
FinecoBank Review – Investment Options
The broker provides accessibility to non-CFD share trading on global and United States exchanges, as well as 54 currency pairings and 126 CFDs.
Crypto: Trading in cryptocurrencies is not possible at any FinecoBank location.
- Forex Trading
- CFD Trading
- 126 Tradeable Symbols in total
- 54 Forex Pairs in total
- US Stock Trading (Non-CFD)
- Int’l Stock Trading (Non-CFD)
FinecoBank Review – Fees
Because the broker doesn’t provide regular spread information for FX and CFD trading, knowing its exact trading prices is challenging.
The broker displays a EUR-USD spread of 1 pip, and it is more than the regular spread supplied by FX brokers, even if it is an average amount. The broker also provides a 0.8 pip spread, however, none of these numbers is stated as an average figure, and there is no comparable date range. However, it’s important to mention that the broker’s index CFDs tend to have lower numbers.
Trading from Mobile
The broker has a dedicated mobile app. But, because the online account registration is only open to residents of the United Kingdom and Italy, it is not possible to conduct any testing on Fineco’s mobile app for traders not residing in the mentioned locations – and there is no way to create a functional demo account.
- Android App
- Apple iOS App
FinecoBank Review – Trading Platforms
The broker provides PowerDesk, an online and desktop trading platform. Because of the broker’s locational limitations (as well as an absence of demo account access), we are unable to download the PowerDesk trading software.
Although the Fineco online platform offers a lot of capabilities, its functioning resembles the older systems, and it might require a current overhaul to make it more user-friendly.
Summary of Platforms: The broker’s online platform provides access to a diverse set of marketplaces. Fineco has rendered it simple for users to obtain everything that they want, such as forex, CFDs, and funding, by combining the bank and investing into one.
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- 90 Charting – Indicators / Studies in total
- Research and Analysis
The research section of the broker’s platform suite includes writings, videos, and other materials.
Market updates & analysis: The broker’s Market Theme series of posts provides a good mix of investor education and relevant market data. But, because some of the material is time-sensitive, it might rapidly become old. The broker’s platform does not provide any daily market comments whatsoever.
FinecoBank Review – Educational Materials
Their webinars, video, and textual materials provide a solid basis for future growth, but its standard instructional offering falls short of the finest brokers in the business.
Learning center: The broker’s English (U.K.) & Italian (IT and EN) webpages each have a video collection with a number of videos arranged by subject. Several of the Eng content, along with some old webinars on its YouTube page, was of high quality.
The broker’s regular webinars focus on a variety of topics related to investing and trading, as well as live trading activities. In the newsroom area of the site, there is a combination of research and instructive content. FinecoBank’s instructional offering can leave users wanting more in general.
There is room for growth: Having the option to filter materials by the level of experience can strengthen the instructional materials on the site. It would also be great to see the subjects and ideas discussed in this area expanded in general. Several of the top brokers provide lessons that include tests and progress monitoring — things that FinecoBank presently lacks.
- Has Education – Forex or CFDs
- Client Webinars
- Client Webinars (Archived)
- Videos – Beginner Trading Videos
- Videos – Advanced Trading Videos
- Investor Dictionary (Glossary)
FinecoBank is a good alternative for users that live in Italy, with FX and CFDs available alongside major worldwide stock markets.
For individuals living in the United Kingdom, the broker’s investment product compares quite well with the leading United Kingdom brokers. It offers a large choice of stocks to trade, but its CFD offering is limited, and its research & instructional content lags behind industry leaders.
Remember that users located outside of the United Kingdom or Italy will not be able to register a live account using Fineco.
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