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Plus500 vs FinecoBank 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Plus500 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, Plus500 ranks more highly than FinecoBank.

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Compare

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Overall Rating Plus500 FinecoBank
Overall Rating star 8.6 /10 star 8.0 /10
Offering of Investments star 8.0 /10 star 9.0 /10
Commissions & Fees star 9.0 /10 star 7.0 /10
Platform & Tools star 8.5 /10 star 8.0 /10
Research star 8.0 /10 star 7.5 /10
Mobile Trading star 8.5 /10 star 7.5 /10
Education star 7.0 /10 star 6.5 /10
Account Type Plus500 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 No No
Deposit/Withdrawal Options Plus500 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 No Yes
Copy Trading Plus500 FinecoBank
Social Trading / Copy Trading info No No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Plus500 FinecoBank
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes info No
Bitcoin info Yes Yes
Ethereum info Yes No
Forex Trading (Spot or CFDs) Plus500 FinecoBank
Forex Trading (Spot or CFDs) info Yes info Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Plus500 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 Plus500 FinecoBank
Forex Trading (Spot or CFDs) info Yes info 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 info Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Plus500 FinecoBank
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No No
MetaTrader 5 (MT5) info No No
Regulatory Licenses Plus500 FinecoBank
Tier-1 Licenses info 6 2
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No 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 No No
New Zealand (FMA Authorised) info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 3 0
Tier-3 Licenses info 0 0
Research, Education Plus500 FinecoBank
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info No Yes
Daily Market Commentary info Yes No
Autochartist info No No
Investor Dictionary (Glossary) info No Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes info No
Trading Costs Plus500 FinecoBank
Minimum Deposit info €100 $0
Average Spread EUR/USD - Standard info 1.5 info N/A info
All-in Cost EUR/USD - Active info 1.5 info N/A info
Active Trader or VIP Discounts info No No
Trading Tools Plus500 FinecoBank
Watchlists - Total Fields info 10 N/A
Mobile Watchlist info Yes No
Charting - Indicators / Studies (Total) info 114 37
Mobile Charting - Indicators / Studies info 110 6
Trust Factors Plus500 FinecoBank
Year Founded info 2008 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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Plus500 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 Plus500 and FinecoBank? Our independent database powered by our unbiased research will help you compare Plus500 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 Plus500?

Plus500 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 Plus500 a good broker?

Plus500 is a highly-trusted broker that holds six Tier-1 regulatory licenses from reputable jurisdictions around the globe and has a Trust Score rating of 99. Traders at Plus500 gain access to share trading via the Plus500 Invest platform, and CFD traders will find good selection of CFDs available via the broker’s separate Plus500 CFD platform. Though Plus500 does not provide access to the popular MetaTrader suite, we found its proprietary trading platform to be intuitive. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.

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. Plus500 holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and 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), 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, Plus500 is Cyprus (CySEC Authorised), Israel (ISA Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while FinecoBank is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Plus500 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 Plus500 offers a Proprietary Platform, whereas FinecoBank supports a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Plus500 offer MetaTrader? Does FinecoBank offer MetaTrader?

Neither Plus500 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 Plus500 and FinecoBank differ in terms of minimum deposit? What about average spreads and funding options?

Plus500 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 Plus500 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, Plus500 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 Plus500 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; Plus500 offers 5500, and FinecoBank offers a total of 9770 tradeable symbols.

Can I trade cryptocurrency with Plus500 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 Plus500 nor FinecoBank allow you to trade physical cryptocurrencies.

Who offers more research tools, Plus500 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. Plus500 delivers the following research tools: Daily Market Commentary, Stock Charts 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.

Plus500 Review

Fineco Bank Review

Overall winner: Plus500

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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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