Overall, Fineco Bank is very competitive in terms of its trading fees and spreads. Their spread is super low compared to other FCA regulated brokers, and there are no hidden trading fees, and commission with the multicurrency account.
Fineco Bank at a glance
| 🔍 Broker's Name | Fineco Bank |
| 🏛 Headquartered | Reggio Emilia, Italy |
| 📅 Year Founded | 1999 |
| 🏛 Regulating Authorities | Financial Conduct Authority (FCA), Commissione Nazionale per le Società e la Borsa (CONSOB) Prudential Regulation Authority |
| 🌐 Countries not accepted for trade | Australia, Canada, China, Germany, Hong Kong, India, Japan, Malaysia, Netherlands, Singapore, United Arab Emirates, United States |
| ☪️️ Islamic Account (Swap Free) | No |
| 📒 Demo Account | Yes |
| 📒 Institutional Accounts | Yes |
| 💻 Managed Accounts | Yes |
| 📊 Maximum Leverage | 1:100 |
| 💳 Minimum Deposit | No Minimum Deposit |
| 💳 Deposit Options | Fineco Pay, Apple Pay, Google Pay, Credit & Debit card, Fitbit Pay, Garman Pay, Maxi withdrawals, CORE Series, smart withdrawal, FAM Series Funds. |
| 💻Platform Types | PowerDesk |
| 📲 OS Compatibility | PC and Mac OS, mobile for Android and IOS |
| 📊 Tradable Assets | Forex, indices, commodities, shares, ETFs |
| 🌐 Languages supported on Website | English and Italian |
| ☎ Customer Service Hours | 24/5 |
Min Deposit
USD 0
Regulators
FCA, CONSOB
Trading Platform
PowerDesk
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Fineco Bank Review – A Key 21 Point Quick Overview
- ✅Fineco Bank at a glance
- ✅Fineco Bank Overview
- ✅Fineco Bank Sign-up Bonus
- Fineco Bank Minimum Deposit
- Fineco Bank Account Types
- Fineco Bank Account Features
- How to set up an Fineco Bank Trading Account – Step by Step
- Fineco Bank Demo Account
- Fineco Bank Islamic Account
- Fineco Bank Fees and Spreads
- Fineco Bank Additional Trading Fees
- Fineco Bank Deposit fees and deposit methods
- Fineco Bank Trading platforms, software and its features
- Top Countries by Similar Web
- Fineco Bank vs Enclave FX vs Elana Trading – A Comparison
- Fineco Bank Current Popularity Trends
- Fineco Bank Pros and Cons
- Fineco Bank Customer Reviews
- Conclusion
- Disclaimer
- Frequently Asked Questions
Fineco Bank offers excellent customer support and access to the most popular asset classes using stable, highly competitive pricing for tight spreads and commissions.
Fineco Bank Overview
Fineco Bank is an Italian forex broker and bank that offers award-winning services to a variety of different traders and investment types. Fineco Bank is one of Europe’s largest banks, listed and part of Euro Stoxx 600 that is authorised by the Bank of Italy, and fully regulated by the Financial Conduct Authority FCA and PRA. A well-established industry player, Fineco Bank has over 20 years of experience in the brokerage market, with more than 30 million orders processed every year, over 1.3 million clients in Italy and £82.4 billion in total financial assets.
Enormous trade volume allows Fineco Bank to contain costs and apply low fees. Fineco Bank offers trading through a single account type that offers various features and access to a broad asset portfolio. As such, clients can trade shares, futures, indices, and Forex CFDs at varied and competitive pricing levels. Clients can trade on thousands of securities from the major world markets with transparent pricing and some of the lowest commissions and spreads in the UK.
Furthermore, traders can also explore options on the CBOE market, allows clients to trade the Volatility Index (VIX) and options on S&P, Dow Jones, Nasdaq and Russell Indices and US Stocks. Fineco Banks’ platforms are designed and built in-house and are currently handling 75.000 executed orders daily – this equates to over 27 million orders every year, as already noted.
Fineco Bank’s educational offerings on the website provides a rich variety of regularly updated news articles, as well as insightful pieces on the psychology of Forex trading and investment. Being a well-regulated Forex broker means that traders can enjoy excellent security of investments in the already volatile Forex market. Fineco Bank is strictly regulated by both the CONSOB of Italy and the Financial Conduct Authority (FCA) of the UK.
As per this regulation, your deposit is covered by a statutory Deposit Guarantee Scheme. In addition, your credit institution is part of an Institutional Protection Scheme in which all members mutually support each other to avoid insolvency. If insolvency should occur, your deposits would be repaid up to EUR 100 000 by the Deposit Guarantee Scheme.
Fineco Bank Sign-up Bonus
Fineco Bank does not offer a welcome bonus to new traders who choose to register for a real account with the broker. Fineco Bank is extremely well-regulated and licensed to offer cross-border investment and trading services throughout the European Economic Area.
| Sign Up Bonus | ❌ |
| Deposit Bonus | ❌ |
| Affiliate Programs | ❌ |
However, this same regulation restricts the broker from offering bonuses to traders. Fineco Bank is regulated in Europe by the banking regulatory authority CONSOB in Italy, and the FCA in the UK. Recent European regulation has placed a ban on broker bonuses as part of improved or heightened client protection measures.
Fineco Bank Minimum Deposit
Fineco Bank does not have a specific minimum deposit amount required to open a broker account. it is generally recommended to start trading with a minimum of at least $100 to avoid falling into a negative balance.
| 💰 Fineco Bank Minimum Deposit | $0 |
The lack of a minimum deposit from Fineco Bank makes it an excellent choice for smaller retail traders and beginner traders who do not wish to risk a high-level investment.
Fineco Bank Account Types
Fineco Bank offers one type of standard trading account or all traders. Fineco Bank also offers a free demo account which will allow beginner traders to test out the broker’s features before signing up for a real account. Unfortunately, Fineco Bank does not offer a swap-free, or Islamic account, to traders of the Muslim faith.
| 🌐 Fineco Bank Account | Multicurrency Account |
| 💰 No Min Deposit | |
| 🆓 Demo Sessions | |
| ❌ No Islamic Account on Offer |
Fineco Bank Account Features
The single standard account from Fineco Bank has the following benefits:
| 💳 Account Features: | £0.00 fees on Shares CFDs and no additional spread |
| Fixed commissions on Shares and ETFs, low spreads on Indices and FX and much more | |
| Access 26 global markets | |
| trade over 20,000 financial instruments Worldwide | |
| Invest and trade directly in GBP, EUR, USD, Swiss Franc, and 20+ currencies. Get realtime currency exchange rate and no currency conversion fees |
The account from Fineco Bank will allow traders to use the customizable proprietary trading software of the PowerDesk platform. You can also trade all products anywhere with our top rate Fineco App: mobile streaming quotes and news, live P&L updates, and customizable interactive charts
How to set up an Fineco Bank Trading Account – Step by Step
The following steps can be followed to register and set up a live account with Fineco Bank:
- Step 1 – Navigate to the Fineco Bank website and click “Open Account”
Navigate to the open account area on the Fineco Bank website. This can be accessed by clicking on the open account button at the top of the landing page
- Step 2 – Fill out the Fineco Bank account registration form
Fill out the online registration form. You will need to select the option of a private customer or opening an account as a small business. Traders must provide: First name, Last name, email address and contact number, area of interest and chosen method of opening a Fineco Bank account
- Step 3 – Select choice of privacy information and means of processing personal data
- Step 4 – Fill out the KYC Process in full autonomy for account approval.
Fill in the account opening contract in total autonomy. Keep at hand, for each holder:
1. Valid identity document (driving license, identity card or passport)
2. Tax code
Fineco Bank Demo Account
The demo account from Fineco Bank is unique in that it consists of a free coaching session with the broker’s team. This will give users a quick overview of the key features of the account, as well as a live demonstration of the trading platform, asset classes and trading tools.
| 🌐 Fineco Bank Demo Account features: | Risk - Free |
| Educational Demo Sessions | |
| Live demonstration of trading |
You will also be able to ask any additional questions you might have about the Fineco Bank products and services.
Fineco Bank Islamic Account
Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law. With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.
| Islamic account | ❌ not offered |
Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
Fineco Bank Fees and Spreads
Traders with Fineco Bank can expect the following spread list: Spreads with Fineco Bank begin as low as 0.8 pips on major currency pairs like the EUR/USD.
Commissions are also charged at variable rates depending on the instrument and the volume traded. These include $3.95 for stock trades on US markets, while those trading from Italy will have a price range of between $3.95 and $12.95 depending on the asset and exchange you are trading on. ETF trading fees have a high point of €19 per trade though this can drop to as low as $2.95 depending on your trading volume.
Fineco Bank Additional Trading Fees
Fineco Bank charges a holding fee on mutual funds at 0.25% annually. The broker does not charge an inactivity fee on dormant accounts, or deposit fees, although a withdrawal fee of 0.2% is charged on international bank transfers. Fineco Bank does charge swap fees, also referred to as overnight fees.
| 💰 No Minimum Deposit | |
| Commission Fees | ☑ Variable rates |
| Inactivity Fees | $0 |
| Swap Fees | ☑ Charged |
A swap or rollover fee is the net interest return on a currency position held overnight by a trader. That is, when trading currencies, an investor borrows one currency to buy another. The interest paid, or earned, is called the rollover rate. A swap-free account is not available for traders of the Muslim faith, for whom such interest is strictly prohibited by Sharia law.
Fineco Bank Deposit fees and deposit methods
Fineco Bank only appears to accept bank wire transfers, debit cards and credit cards as deposit methods. This is a limited selection, with no access to more popular e-payment methods such as PayPal, Neteller or Skrill. Fineco Bank does offer its own card services as well. Traders who choose to open a card with the bank may benefit from more immediate transactions and reduced costs.
In terms of deposit security, Fineco Bank is strictly regulated by both the CONSOB of Italy and the Financial Conduct Authority (FCA) of the UK. As per this regulation, your deposit is covered by a statutory Deposit Guarantee Scheme. In addition, your credit institution is part of an Institutional Protection Scheme in which all members mutually support each other to avoid insolvency.
If insolvency should occur, your deposits would be repaid up to EUR 100 000 by the Deposit Guarantee Scheme. With regards to deposit currencies, Fineco Bank accepts almost all global currencies, including smaller options like ZAR/Rand. This means that most traders can avoid incurring conversion fees on either deposits or withdrawals.
While Fineco Bank does not charge a deposit fee, there is a 0.2% withdrawal fee on international bank transfers
Fineco Bank Trading platforms, software and its features
The account from Fineco Bank will allow traders to use the customizable proprietary trading software of the PowerDesk platform. This will have the following features: A complete overview on every security, with live quotes, main figures, detailed reports, data sheets and analyst’s recommendations.
Explore the markets with ease using the intuitive search option. You can also easily find securities by typing in just the first few letters. Free streaming quotes for UK, EU, and US markets with 5- levels order book, as well as a Professional charting system with customizable timeframes and over 90 technical indicators and data export, free of charge.
You can also trade all products anywhere with our top rate Fineco App: mobile streaming quotes and news, live P&L updates, and customizable interactive charts.
Top Countries by Similar Web
🌐 Italy | 96.46% |
| 🌐 Spain | 0.71% |
| 🌐 UK | 0.70% |
| 🌐 Switzerland | 0.33% |
| 🌐 Germany | 0.25% |
| 🌐 Others | 1.55% |
Fineco Bank vs Enclave FX vs Elana Trading - A Comparison
| 🥇 Fineco Bank | 🥇 Enclave FX | 🥇 Elana Trading | |
| 💳 Minimum Deposit | No Min Deposit | $10 | No Min Deposit |
| ZAR | 0 | R161 ZAR | 0 |
| 🎉 Bonus | ❌ | ❌ | ❌ |
| 💻 MT4 | ❌ | ❌ | ☑ |
| ☪️️ Islamic Account | ❌ | ☑ | ❌ |
Fineco Bank Current Popularity Trends
According to Google Trends, here is an overview of how frequently the search term – “Fineco Bank” is entered into Google’s search engine over a given period of time.
Fineco Bank Pros and Cons
| ✔️ Pros | ❌ Cons |
| Advance trading software | No access to high leverage |
| Competitive commissions and tight spreads | No Islamic Account available |
| No minimum deposit | Some additional non-trading fees |
| Well-regulated broker with high deposit security |
Fineco Bank Customer Reviews
Great support
Fineco Bank gives the best support service so I will trade easily . thank you Fineco Bank. I feel very fortunate to be part of the broker – Mary
I am very happy with Fineco Bank…
I am very happy with Fineco Bank’s service, it provides a good return in PMS.. – Dan
No Sign-up bonus or Affiliate program on the website
I enjoy the perks of sign-up bonuses offered by forex brokers, hopefully, this can be considered for future offerings – Ed
Conclusion
Overall, Fineco Bank is an excellent all-round broker for beginner and experienced traders, offering regulatory security, a wide variety of assets and instruments, advanced proprietary trading software, and excellent pricing.
Min Deposit
USD 0
Regulators
FCA, CONSOB
Trading Platform
PowerDesk
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Disclaimer
Fineco Bank warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors. Before deciding to trade with Fineco Bank, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.
Fineco Bank warns that margin trading involves the potential for profit as well as the risk of loss. Movements in the price of foreign exchange and commodities are very unpredictable, hence Fineco Bank cannot guarantee a maximum loss that a trader may suffer.
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Frequently Asked Questions
Is Fineco Bank a scam or fake?
Our review reveals that Fineco Bank is strictly regulated by the CONSOB of Italy and the Financial Conduct Authority (FCA) of the UK.
What are the advantages of trading with Fineco Bank?
Fineco Bank offers traders a $0 requirement on minimum deposit, with no inactivity or conversion fees, Fineco Bank clearly offers traders favorable trading conditions.
Which platforms are supported by Fineco Bank?
Fineco Bank supports its own in house trading platform – PowerDesk.
How many traders does Fineco Bank have?
Fineco Bank boasts 1,4 million traders on its platforms
For which type of trader is Fineco Bank best suited?
Fineco Bank caters for both Beginner and advanced traders with various product offerings.
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