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Interactive Brokers vs FinecoBank 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between Interactive Brokers 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, Interactive Brokers ranks more highly than FinecoBank.

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Compare

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Overall Rating Interactive Brokers FinecoBank
Overall Rating star 9.9 /10 star 8.0 /10
Offering of Investments star 10 /10 star 9.0 /10
Commissions & Fees star 10 /10 star 7.0 /10
Platform & Tools star 10 /10 star 8.0 /10
Research star 10 /10 star 7.5 /10
Mobile Trading star 9.5 /10 star 7.5 /10
Education star 10 /10 star 6.5 /10
Account Type Interactive Brokers 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 No No
Islamic Account info No No
Deposit/Withdrawal Options Interactive Brokers FinecoBank
Minimum Deposit info $0 $0
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No No
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info Yes Yes
Copy Trading Interactive Brokers FinecoBank
Social Trading / Copy Trading info No No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Interactive Brokers FinecoBank
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info No No
Bitcoin info Yes Yes
Ethereum info Yes No
Forex Trading (Spot or CFDs) Interactive Brokers FinecoBank
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Interactive Brokers 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 Interactive Brokers FinecoBank
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Interactive Brokers 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 No No
MetaTrader 5 (MT5) info No No
Regulatory Licenses Interactive Brokers FinecoBank
Tier-1 Licenses info 9 2
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes 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 2 0
Tier-3 Licenses info 0 0
Research, Education Interactive Brokers 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 Interactive Brokers FinecoBank
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 0.59 info N/A info
All-in Cost EUR/USD - Active info 0.59 info N/A info
Active Trader or VIP Discounts info Yes No
Trading Tools Interactive Brokers FinecoBank
Watchlists - Total Fields info 659 N/A
Mobile Watchlist info Yes No
Charting - Indicators / Studies (Total) info 155 37
Mobile Charting - Indicators / Studies info 97 6
Trust Factors Interactive Brokers FinecoBank
Year Founded info 1977 1999
Publicly Traded (Listed) info Yes Yes
Bank info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 99 94
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Interactive Brokers 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 Interactive Brokers and FinecoBank? Our independent database powered by our unbiased research will help you compare Interactive Brokers 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 Interactive Brokers?

Interactive Brokers has a Trust Score of 99, 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 Interactive Brokers a good broker?

Founded in 1977, Interactive Brokers is a long-standing highly trusted broker that holds a stunning nine Tier-1 licenses from regulatory jurisdictions across the globe numerous regulatory licenses. We've consistently rated Interactive Brokers as an excellent choice for professional traders, and its Trader Workstation (TWS) platform offers a variety of advanced trading tools that will be appreciated by experienced traders. Interactive Brokers delivers access to over 100 markets, including forex and CFDs. IBKR's recently introduced web-based platform is a great choice for beginner forex traders, and its powerful research and extensive educational content make for a balanced experience for newcomers and professionals alike.

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. Interactive Brokers holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). 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 New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)

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, Interactive Brokers is India (SEBI Authorised) and UAE (DFSA/Central Bank Authorised), while FinecoBank is none.. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Interactive Brokers nor FinecoBank are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have 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 both Interactive Brokers and FinecoBank offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Interactive Brokers offer MetaTrader? Does FinecoBank offer MetaTrader?

Neither Interactive Brokers or FinecoBank offer MT4 or MT5. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 4 (MT4) and MetaTrader 5 (MT5)

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

Interactive Brokers requires a minimum deposit of $0, while FinecoBank requires a minimum deposit of $0. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both Interactive Brokers and FinecoBank offer Bank Wire (Deposit/Withdraw) for deposits. Neither have Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Interactive Brokers or FinecoBank?

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both Interactive Brokers and FinecoBank offer Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting and Social Trading / Copy Trading.

We also keep track of each broker’s total number of tradeable symbols; Interactive Brokers offers 8500, and FinecoBank offers a total of 9770 tradeable symbols.

Can I trade cryptocurrency with Interactive Brokers 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 Interactive Brokers offers clients access to trading physical cryptocurrencies while FinecoBank does not.

Who offers more research tools, Interactive Brokers 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. Interactive Brokers delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). FinecoBank, on the other hand, provides the tools listed here: Stock Charts and Forex News (Top-Tier Sources). Neither have Autochartist and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

Interactive Brokers Review

Fineco Bank Review

Overall winner: Interactive Brokers

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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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