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FxPro vs FinecoBank 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between FxPro and FinecoBank? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FxPro ranks more highly than FinecoBank.

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Compare

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Overall Rating FxPro FinecoBank
Overall Rating 8.1 /10 8.0 /10
Offering of Investments 8.0 /10 9.0 /10
Commissions & Fees 7.5 /10 7.0 /10
Platform & Tools 8.0 /10 8.0 /10
Research 7.5 /10 7.5 /10
Mobile Trading 8.5 /10 7.5 /10
Education 7.5 /10 6.5 /10
Account Type FxPro FinecoBank
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes No
Islamic Account info Yes No
Deposit/Withdrawal Options FxPro FinecoBank
Minimum Deposit info $100 $0
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes No
PayPal (Deposit/Withdraw) info Yes No
ACH or SEPA Transfers info Yes Yes
Copy Trading FxPro FinecoBank
Social Trading / Copy Trading info Yes No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency FxPro FinecoBank
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes No
Bitcoin info Yes Yes
Ethereum info Yes No
Forex Trading (Spot or CFDs) FxPro FinecoBank
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) FxPro FinecoBank
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments FxPro FinecoBank
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info Yes No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info No Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms FxPro FinecoBank
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info Yes No
Regulatory Licenses FxPro FinecoBank
Tier-1 Licenses info 2 2
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Research, Education FxPro FinecoBank
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes No
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes No
Trading Costs FxPro FinecoBank
Minimum Deposit info $100 $0
Average Spread EUR/USD - Standard info 1.51 info N/A info
All-in Cost EUR/USD - Active info 1.27 info N/A info
Active Trader or VIP Discounts info Yes No
Trading Tools FxPro FinecoBank
Watchlists - Total Fields info 6 N/A
Mobile Watchlist info Yes No
Charting - Indicators / Studies (Total) info 53 37
Mobile Charting - Indicators / Studies info 65 6
Trust Factors FxPro FinecoBank
Year Founded info 2006 1999
Publicly Traded (Listed) info No Yes
Bank info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 90 94
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FxPro vs FinecoBank Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between FxPro and FinecoBank? Our independent database powered by our unbiased research will help you compare FxPro vs FinecoBank side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust FxPro?

FxPro has a Trust Score of 90, giving it a "Highly Trusted" Trust Score Label.

Can I trust FinecoBank?

FinecoBank has a Trust Score of 94, giving it a "Highly Trusted" Trust Score Label.

Is FxPro a good broker?

FxPro is a trusted brand that delivers access to a wide range of trading platforms, including cTrader, the full MetaTrader platform suite (including MetaTrader 5), and its proprietary FxPro Edge and BnkPro apps. Algorithmic traders will appreciate FxPro's execution methods and pricing options. That said, spreads and overall costs at FxPro are higher than what you'd find with the best forex brokers in the industry.

Is FinecoBank a good broker?

Founded in 1999, FinecoBank is a highly trusted brand regulated in multiple Tier-1 jurisdictions and listed on the Italian Stock Exchange. It's worth noting that traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents at an actual Fineco branch office). Traders that are able to open an account with Fineco will find a large number of tradeable markets and multiple proprietary trading platforms, including FinecoX and the PowerDesk desktop platform.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FxPro holds regulatory licenses in the following Tier-1 jurisdictions: United Kingdom (U.K.) (FCA Authorised). FinecoBank, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FxPro is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised), while FinecoBank is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses FxPro is Bahamas (SCB Authorised), while FinecoBank is none.. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that FxPro offers a Proprietary Platform, Desktop Platform (Windows) and cTrader, whereas FinecoBank supports a Proprietary Platform and Desktop Platform (Windows). Neither have DupliTrade and ZuluTrade

Does FxPro offer MetaTrader? Does FinecoBank offer MetaTrader?

For MetaTrader FxPro provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while FinecoBank provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FxPro and FinecoBank differ in terms of minimum deposit? What about average spreads and funding options?

FxPro requires a minimum deposit of $100, while FinecoBank requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that FxPro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FinecoBank supports Bank Wire (Deposit/Withdraw)

Which broker offers more tradeable asset classes, FxPro or FinecoBank?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FxPro delivers a more diverse selection of investment options than FinecoBank, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; FxPro offers 2249, and FinecoBank offers a total of 9770 tradeable symbols.

Can I trade cryptocurrency with FxPro or FinecoBank?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither FxPro nor FinecoBank allow you to trade physical cryptocurrencies.

Who offers more research tools, FxPro or FinecoBank?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. FxPro delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. FinecoBank, on the other hand, provides the tools listed here: Stock Charts and Forex News (Top-Tier Sources). Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

FxPro Review

Fineco Bank Review

Overall winner: FxPro

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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