Swissquote vs Fineco Bank Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Swissquote vs Fineco Bank.
Can I trust Swissquote?
Swissquote has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Fineco Bank?
Fineco Bank has a trust score of 95, giving it a "Highly Trusted" trust label.
Is Swissquote a good broker?
Traders at Swissquote gain access to a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader (both MT4 and MT5) and TradingView. Swissquote also delivers access to a staggering 3 million financial products, including stocks, options, futures, derivatives, ETFs, and structured products (though only a few hundred CFDs). With multiple Tier-1 regulatory licenses and a Trust Score rating of 99 (as well as the rare distinction of operating three banks), we consider Swissquote to be a highly trusted broker. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers, and its forex account offers far fewer markets than Swissquote's eTrading account for share dealing.
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.
What Tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Swissquote is Hong Kong (SFC Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised), while Fineco Bank is Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), Japan (SFC 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, Swissquote is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while Fineco Bank is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Swissquote nor Fineco Bank 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?
Both Swissquote and Fineco Bank offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does Swissquote offer MetaTrader? Does Fineco Bank offer MetaTrader?
For MetaTrader Swissquote provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Fineco Bank 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 Swissquote and Fineco Bank differ in terms of minimum deposit? What about average spreads and funding options?
Swissquote requires a minimum deposit of $1000, while Fineco Bank requires a minimum deposit of $0. From our testing we found Swissquote offers spreads of N/A, while Fineco Bank offers spreads of N/A. Swissquote supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Fineco Bank supports Bank Wire (Deposit/Withdraw).
Which broker offers more tradeable asset classes, Swissquote or Fineco Bank?
Swissquote offers a more diverse selection of investment options than Fineco Bank allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Swissquote has 472, compared to 126 from Fineco Bank.
Can I trade cryptocurrency with Swissquote or Fineco Bank?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Swissquote nor Fineco Bank allow you to trade physical cryptocurrencies.
Who offers more research tools, Swissquote or Fineco Bank?
In terms of research and research tools Swissquote gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Fineco Bank has the tools listed here: Stock Charts and Forex News (Top-Tier Sources).
Overall winner: Swissquote
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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.