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Fineco Bank vs RoboForex (RoboMarkets) 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Fineco Bank and RoboForex (RoboMarkets)? 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, Fineco Bank ranks more highly than RoboForex (RoboMarkets).

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Compare

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Overall Rating Fineco Bank RoboForex (RoboMarkets)
Overall Rating 8.0 / 10 7.3 / 10
Account Type Fineco Bank RoboForex (RoboMarkets)
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 Yes
Islamic Account info No Yes
Copy Trading Fineco Bank RoboForex (RoboMarkets)
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Fineco Bank RoboForex (RoboMarkets)
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info No Yes
Bitcoin info Yes Yes
Ethereum info No Yes
Forex Trading (Spot or CFDs) Fineco Bank RoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Fineco Bank RoboForex (RoboMarkets)
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 Fineco Bank RoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Fineco Bank RoboForex (RoboMarkets)
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses Fineco Bank RoboForex (RoboMarkets)
Tier-1 Licenses info 2 1
Australia (ASIC Authorised) info Yes No
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 No
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 0 0
Tier-3 Licenses info 0 0
Research, Education Fineco Bank RoboForex (RoboMarkets)
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info No Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes No
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info No Yes
Trading Costs Fineco Bank RoboForex (RoboMarkets)
Minimum Deposit info $0 $100
Average Spread EUR/USD - Standard info N/A info 1.4 info
All-in Cost EUR/USD - Active info N/A info N/A
Active Trader or VIP Discounts info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No Yes
Trading Tools Fineco Bank RoboForex (RoboMarkets)
Watchlists - Total Fields info N/A 7
Mobile Watchlist info No Yes
Charting - Indicators / Studies (Total) info 37 30
Mobile Charting - Indicators / Studies info 6 30
Trust Factors Fineco Bank RoboForex (RoboMarkets)
Year Founded info 1999 2009
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 94 71
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Fineco Bank vs RoboForex (RoboMarkets) 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 Fineco Bank and RoboForex (RoboMarkets)? Our independent database powered by our unbiased research will help you compare Fineco Bank vs RoboForex (RoboMarkets) 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 Fineco Bank?

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

Can I trust RoboForex (RoboMarkets)?

RoboForex (RoboMarkets) has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.

Is Fineco Bank 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.

Is RoboForex (RoboMarkets) a good broker?

Founded in 2009, RoboForex (also known as RoboMarkets) is a maturing brand that offers a proprietary stock trading app (R StocksTrader) as well as 12,000 tradeable symbols available across its full MetaTrader offering (both MT4 and MT5) and the cTrader platform. That said, RoboForex currently only holds one Tier-1 license, which weighs down the broker's overall Trust Score rating.

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. Fineco Bank holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). RoboForex (RoboMarkets), on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. 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, Fineco Bank is none, while RoboForex (RoboMarkets) is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses Fineco Bank is none, while RoboForex (RoboMarkets) is Belize (FSC Authorised).. Neither have Bahamas (SCB 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 Fineco Bank offers a Proprietary Platform and Desktop Platform (Windows), whereas RoboForex (RoboMarkets) supports a Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Fineco Bank offer MetaTrader? Does RoboForex (RoboMarkets) offer MetaTrader?

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

How do Fineco Bank and RoboForex (RoboMarkets) differ in terms of minimum deposit? What about average spreads and funding options?

Fineco Bank requires a minimum deposit of $0, while RoboForex (RoboMarkets) requires a minimum deposit of $100. 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 Fineco Bank supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas RoboForex (RoboMarkets) supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Fineco Bank or RoboForex (RoboMarkets)?

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 Fineco Bank delivers a more diverse selection of investment options than RoboForex (RoboMarkets), offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; Fineco Bank offers 9770, and RoboForex (RoboMarkets) offers a total of 12000 tradeable symbols.

Can I trade cryptocurrency with Fineco Bank or RoboForex (RoboMarkets)?

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 Fineco Bank nor RoboForex (RoboMarkets) allow you to trade physical cryptocurrencies.

Who offers more research tools, Fineco Bank or RoboForex (RoboMarkets)?

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. Fineco Bank delivers the following research tools: Stock Charts and Forex News (Top-Tier Sources). RoboForex (RoboMarkets), on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Autochartist and Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

Fineco Bank Review

Roboforex (RoboMarkets) Review

Overall winner: Fineco Bank

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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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