Summary

Recommended for traders and investors looking for a great trading platform and a broker with a solid background

Fineco Bank is an Italian bank, founded in 1999. It is regulated by the Bank of Italy, the Commissione Nazionale per le Società e la Borsa (Consob), and also subject to limited regulation by the UK's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

Fineco Bank has a banking license, is listed on the Italian stock exchange (Borsa Italiana), and is a constituent of the STOXX Europe 600 stock index.

At the time of our review, Fineco Bank accepted customers from the UK and Italy only. The service is slightly different for UK and Italian customers, e.g. fees are different. In this review, we tested the company's UK services, but we'll highlight all relevant information for Italian customers as well.

Fineco Bank is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, and discloses its financials transparently.

Overall Rating
4.6
Fees
3.4
Account opening
4.4
Deposit and withdrawal
3.3
Trading platform
4.2
Markets and products
3.8
Research
4.0
Customer service
4.0
Education
3.0

Fineco Bank pros and cons

Fineco Bank has low non-trading fees, including no fees for inactivity, deposit or withdrawal. Its mobile trading platform is well-designed and user-friendly. As a listed broker with a banking background, Fineco Bank scores high on safety.

On the down side, you can use only bank transfer for deposit. Educational materials consist of only a few videos, webinars and some 'Help' articles. Lastly, charting tools are not very user-friendly.

Pros Cons
Low non-trading fees Only bank transfer for deposit
Great mobile trading platform Limited educational tools
Rock-solid background Poor charting tools
Fineco Bank main features and highlights
🗺️ Country of regulation Italy, UK
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 21
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Fineco Bank review
Fees

3.4
To find out more about its trading and non-trading fees, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank has low stock and ETF fees, and no inactivity or withdrawal fees. However, forex fees are high, and holding positions overnight (i.e. financing rates) are also expensive.
Pros Cons
Low non-trading fees High forex and options fees
Low stock and ETF fees High fees for CFD overnight positions
Low fund fees
Fineco Bank fees snapshot
Assets Fee level Fee terms
US stock Low $3.95 per trade for UK customers; $3.95-$12.95 per trade for Italian customers, depending on the number of monthly trades
EURUSD High The fees are built into the spread, 0.8 pips is the average spread cost during peak trading hours.
Mutual fund Low For UK customers: tiered fee of 0.25% of trade value per year (£0 - £250k), 0.15% of trade value per year (£250k - £1m), 0.05% of trade value per year (£1m - £2m), or 0% (£2m+). For Italian customers: €/$9 per trade, but there are ca. 700 free funds.
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked Fineco Bank's fee levels as low, average, or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

In the sections below, you will find the most relevant fees of Fineco Bank for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Fineco Bank's fees with those of two similar brokers we selected, Saxo Bank and DEGIRO. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Fineco Bank alternatives.

To have a clear overview of Fineco Bank, let's start with the trading fees.

Fineco Bank trading fees

Fineco Bank trading fees are mixed, with low fees for stocks, ETFs, futures, funds, bonds and most CFDs, but high fees for forex and options. On a positive note, we were impressed by the transparent fee structure.

The fee structure is different for UK and Italian customers. In this review, we calculate with UK fees but highlight fees for Italian customers as well.

Stock fees and ETF fees

Fineco Bank has generally low stock and ETF commissions

Fineco Bank stock and ETF commission on a $2,000 trade
  Fineco Bank Saxo Bank DEGIRO
US stock $4.0 $10.0 $0.7
UK stock $3.8 $10.4 $2.6
German stock $4.7 $12.0 $5.8

For UK customers, the commission is a flat fee and its value is fixed

Fineco Bank stock and ETF fees for UK customers
Market Commission
USA $3.95 per trade
UK £2.95 per trade
Germany, France, Netherlands, Portugal, Italy €3.95 per trade
Canada CAD 10 per trade
Finland 0.19%, min €2.95, max €19
Spain 0.19%, min €14.95
Switzerland 0.19%, min CHF 24

For Italian customers, the commission is likewise flat, but its value depends on your commissions generated in a month, the value of your total assets, or your total savings with Fineco Bank. It means that if you trade more, or have more invested assets or bank savings with Fineco, your commissions will be lower (you need to meet only one of the three criteria to move up to the next tier).

Fineco Bank stock and ETF fees for Italian customers
Tiers Commission Commissions generated in a month Value of total assets Total savings
Italy and other European markets
1 €19 less than €100 less than €500k less than €250k
2 €9.95 €100 €500k €250k
3 €6.95 €1,500 €1 million €500k
4 €2.95 €2,500 €2 million €1 million
US
1 $12.95 less than €100 less than €500k less than €250k
2 $9.95 €100 €500k €250k
3 $8.95 €1,500 €1 million €500k
4 $3.95 €2,500 €2 million €1 million
Canadian markets
1 CAD 25 less than €100 less than €500k less than €250k
2 CAD 20 €100 €500k €250k
3 CAD 15 €1,500 €1 million €500k
4 CAD 10 €2,500 €2 million €1 million

Forex fees

Fineco Bank charges high forex fees. Fineco Bank's forex products are provided as CFDs.

To have a clear picture of forex fees we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads, and financing costs for all brokers.

Fineco Bank forex benchmark fee of a $20,000 30:1 long position held for one week
  Fineco Bank Saxo Bank DEGIRO
EURUSD benchmark fee $17.3 $7.9 -
GBPUSD benchmark fee $17.2 $6.4 -
AUDUSD benchmark fee $27.9 $7.1 -
EURCHF benchmark fee $21.9 $5.3 -
EURGBP benchmark fee $19.8 $8.9 -

The only costs Fineco charges are spread costs and multiday fees (the cost of holding your position overnight).

Spread costs are average, but multiday fees are high.

Fineco Bank forex fees
Currency pair Spread for UK customers Spread for Italian customers
EURUSD 0.8 pip 1.0 pip
GBPUSD 1.0 pip 1.2 pip
AUDUSD 3.0 pip 3.0 pip
EURCHF 3.0 pip 3.0 pip
EURGBP 1.0 pip 1.2 pip

Multiday fees are the same for UK and Italian customers. This fee consists of a fixed and a floating part:

  • Fixed part - 2.95% annual rate of trade value/total exposure in EUR. For example, the overnight fixed fee for 10,000 positions is €0.88 (10,000 *2.95% / 360).
  • Floating interest rate - the average of bid-offer prices between 22:00 - 22:30 GMT.

Fund fees

Fineco Bank fund fees are low.

Fineco Bank commission on a $2,000 fund purchase
  Fineco Bank Saxo Bank DEGIRO
Mutual fund $0.0 $0.0 $11.1

For UK customers, Fineco Bank charges a fee for holding the fund. This fee is volume-based.

Fineco Bank annual fund fees
Funds holding volume Annual fee
£0 - £250k 0.25%
£250k - £1m 0.15%
£1m - £2m 0.05%
£2m+ Free

If your holding is above the first tier, you will be charged 0.25% for the first £250k of holdings, 0.15% for your holdings above £250k but below £1 million, and so on. Holding volume is calculated at the end of each month, and the proportional part of the annual fee is charged monthly.

Italian customers can invest in ca. 700 no-load funds, which means that no fees are charged. Other mutual funds have a fixed €/$9 fee per subscription (purchase) and redemption (selling). 

Bond fees

Fineco Bank has generally low bond fees.

Fineco Bank commission on a $10,000 government bond trade
  Fineco Bank Saxo Bank DEGIRO
EU government bond $9.0 $96.0 $11.0

The commissions are £6.95 per trade for UK customers, and 0.19% of trade value (min €5.95, max of €19) for Italian customers.

Options fees

Fineco Bank options fees are high.

Fineco Bank stock index options commission of 10 contracts
  Fineco Bank Saxo Bank DEGIRO
US stock index options $69.5 $30.0 $5.0
UK stock index options - $39.0 -
German stock index options - $48.0 $10.8

Commission is charged per contract, and its value depends on how much commission you generate each month. This means that the more you trade, the lower your commission will be.

Fineco Bank options fees
Monthly generated commission: Below $500 $500-$9,999 $10,000+
Commission per contract $6.95 $3.95 $2.50

Futures fees

Fineco Bank futures fees are low.

Fineco Bank stock index futures commission on 10 contracts
  Fineco Bank Saxo Bank DEGIRO
US micro e-mini stock index futures $7.0 $40.0 $5.0
UK stock index futures - $39.0 $0.0
German e-mini stock index futures $9.0 $48.0 $9.0

For UK customers, Fineco Bank charges futures fees based on the number of contracts, and the value of these commissions is fixed.

Fineco Bank futures fees for UK customers
Asset Commission per contract
US micro e-mini stock index futures $0.70
US e-mini stock index futures $1.95
Mini DAX €0.75
DAX €0.95

For Italian customers, futures fees depend on how much commission you generate each month. This means that if you trade more, your commissions will be lower.

Fineco Bank futures fees for Italian customers
Monthly generated commission: Below $500 $500-$9,999 $10,000+
US micro e-mini stock index futures (commission per contract) $1.25 $1.25 $1.00
US e-mini stock index futures (commission per contract) $3.95 $2.95 $1.95
DAX( commission per contract) €6.95 €3.95 €1.95

CFD fees

Fineco Bank has low CFD trading fees.

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Fineco Bank CFD benchmark fees for a $2,000 long position held for one week
  Fineco Bank Saxo Bank DEGIRO
Apple CFD fee $1.1 $21.7 -
Vodafone CFD fee $1.4 $22.8 -
S&P 500 index CFD fee $1.1 $1.5 -
Europe 50 index CFD fee $1.6 $2.1 -

We calculated with 5:1 leverage for single stock CFDs and 20:1 leverage for stock index CFDs.

It's great and unique that Fineco Bank doesn't charge any spread mark-up or commission for stock CFDs. You have to calculate only with multiday fees, i.e. the cost of holding positions overnight, and the market spread. Multiday fees for stock CFDs are calculated as follows:

  • For UK customers: one-month Euribor +/- 2.50% (long/short).
  • For Italian customers: one-month Euribor +/- 5.95% (long/short).

On stock index CFDs, Fineco Bank charges a spread mark-up and multiday fees, i.e. the cost of holding positions overnight. The spreads are much lower for UK customers.

Fineco Bank stock index CFD fees
Stock index CFD Spread for UK customers Spread for Italian customers
S&P 500 index CFD 0.6 6.0
Europe 50 index CFD 1.4 4.6

Multiday fees for stock index CFDs are calculated as follows:

  • For UK customers: one month Euribor +/- 2.50% (long/short).
  • For Italian customers: one month Euribor +/-2.95% (long/short).

Non-trading fees

Fineco Bank has low non-trading fees. It doesn't charge any account, inactivity or deposit fees.

There is no withdrawal fee for regular domestic bank and debit card transfers. If you use instant bank withdrawal, it will cost 0.20% (min €0.85, max €2.95). International bank transfer withdrawals cost £19.95.

Fineco Bank non-trading fees
  Fineco Bank Saxo Bank DEGIRO
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Fineco Bank review
Account opening

4.4
To experience the account opening process, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank's account opening is fully digital, and no minimum deposit is required. Account verification can be on the slow side, taking as much as 2 business days.
Pros Cons
Fully digital Slightly slow account verification
No minimum deposit

Can you open an account?

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What is the minimum deposit at Fineco Bank?

The required Fineco Bank minimum deposit is $0. This is great if you want to start trading or investing with lower amounts only.

Account types

Fineco Bank provides only individual and joint accounts. ISA/SIPP and corporate accounts for UK customers are not available.

Whenever you open an account with Fineco Bank, you also automatically open a Fineco bank account. Therefore, you can use your account for payments in addition to trading or investing.

Italian customers can open a small-business account as well.

How to open your account

Fineco Bank's account opening process is fully online and takes around 15 minutes to complete. Account verification can take a bit longer, though, as our account was verified only after 2 business days.

In addition to online account opening, you can also open an account through the phone.

Fineco Bank account opening involves the following steps:

  1. Enter your personal information, such as your name or date of birth.
  2. Provide your permanent address and tax residence.
  3. Add information about your citizenship, employment status and source of wealth.
  4. Answer a few questions about your educational background and trading experience.
  5. You have the option to choose a Fineco debit card.
  6. Make a bank transfer in order to identify yourself.
  7. You receive your 'Account opening password' by text message and your 'Contract number' via email.
  8. Upload an ID copy as proof of identity, and accept the T&Cs.

Once you have completed these steps, you can already start exploring Fineco Bank's web trading platform, but you can't start trading until your account is verified.

Fineco Bank review - Account opening

Fineco Bank review
Deposit and withdrawal

3.3
To find out more about the deposit and withdrawal process, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank offers a great variety of account base currencies, and deposits are free. On the negative side, you can't use credit/debit cards or electronic wallets for deposit.
Pros Cons
No deposit fee Credit/Debit card deposit not possible
Several account base currencies Electronic wallets not accepted
Free withdrawal in most cases

Account base currencies

At Fineco Bank, you can choose from many account base currencies.

Fineco Bank account base currencies
AUD CAD CHF CNY CZK
DKK EUR GBP HKD HUF
JPY MXN NOK NZD PLN
RUB SEK SGD TRY USD
ZAR        

This great variety of account base currencies is similar to Saxo's selection and much better than DEGIRO's.

Base currencies at Fineco Bank vs similar brokers
  Fineco Bank Saxo Bank DEGIRO
Number of base currencies 21 26 9

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Fineco Bank charges no deposit fees. However, you can use only bank transfer for deposit.

Fineco Bank deposit options
  Fineco Bank Saxo Bank DEGIRO
Bank transfer Yes Yes Yes
Credit/Debit card No Yes No
Electronic wallets No No Yes

A bank transfer can take several business days, while payment with a credit or debit card would be instant.

You can only deposit money from accounts that are in your name.

Fineco Bank review - Deposit and withdrawal - Deposit

Fineco Bank withdrawal fees and options

Fineco Bank charges no withdrawal fees for domestic non-instant bank transfer and debit card withdrawals. If you use instant bank withdrawal, it will cost 0.20% (min €0.85, max €2.95). International bank transfers cost £19.95.

As you can also order a debit card from Fineco Bank, debit card withdrawal can be a convenient withdrawal option besides bank transfer.

Fineco Bank withdrawal fees and options
  Fineco Bank Saxo Bank DEGIRO
Bank Transfer Yes Yes Yes
Credit/Debit card* Yes No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

*For UK customers, only debit card withdrawal is available.

How long does it take to withdraw money from Fineco Bank? We tested the bank transfer withdrawal and it took 1 business day.

You can only withdraw money to accounts that are in your name.

Compare to other brokers

Fineco Bank review
Web trading platform

4.3
To try the web trading platform yourself, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank has a great web trading platform. It's well-designed and offers many features, including a convenient search function. However, the platform is not customizable.
Pros Cons
Good search function Limited customizability (for charts, workspace)
Good variety of order types
Modern design
Fineco Bank platforms to choose from
Trading platform Score Available
Web 4.3 stars Yes
Mobile 4.7 stars Yes
Desktop 2.7 stars Yes

Fineco Bank has its own in-house-developed web trading platform. It is available in English and Italian.

Look and feel

The Fineco Bank web trading platform is well-designed. We felt that the platform's navigation and menu structure is a bit complex, but after a few hours of use, you'll get the hang of the site and all of its features.

On the negative side, Fineco's web trading platform is not customizable.

Fineco Bank review - Web trading platform

Login and security

Fineco Bank requires only a one-step login. Two-step authentication would be more secure.

On a positive note, you can use an OTP (one-time-password) for transactions, bank transfers and digital signatures. We think it's a great security feature.

Search functions

The search functions are great on Fineco Bank's web trading platform.

If you start typing the asset's name into the search box, it lists search results for that specific asset grouped into asset class categories, like shares, CFDs, bonds, etc. We liked that the most relevant result is on top, and if you search for stocks, you can easily compare them with similar stocks.

Another search option is to click the 'Trading' section and start browsing the menu on the left. Assets are grouped according to asset class, country or exchange.

Fineco Bank review - Web trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop (take profit and stop-loss)
  • Trailing Stop
  • Conditional orders

To get a better understanding of these terms, read this overview of order types.

You can also use order time limits, like GTC (Good 'til canceled) or IOC (immediate or cancel).

Fineco Bank review - Web trading platform - Order panel

Alerts and notifications

You can set alerts and notifications. However, only price alerts are available. We missed other options such as alerts about corporate events.

You can set up to receive notifications via email or SMS.

Portfolio and fee reports

Fineco Bank has clear portfolio and fee reports. You can find these if you go to the 'Portfolio' section and click 'Reporting'.

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Fineco Bank review
Mobile trading platform

4.7
To try the mobile trading platform yourself, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank's mobile trading app is well-designed and easy to use, and search is a breeze. Like on the web platform, though, alert functions are limited and there's no two-step login.
Pros Cons
User-friendly None
Good search function
Modern design

Fineco Bank has its own in-house-developed mobile trading platform, which is available for both Android and iOS. In this review, we tested the app on Android.

Look and feel

The Fineco Bank mobile trading platform is user-friendly and well-designed. We easily found all the features we were looking for.

Fineco Bank review - Mobile trading platform

Login and security

Fineco Bank provides only a one-step login, and you can't set biometric authentication. Having these features would create a more secure login experience.

On the other hand, you can use Mobile Code, which allows you to confirm transactions either through a mobile code or by using Touch/Face ID. We think it's a great security feature.

Search functions

Similarly to the web trading platform, the search functions work well. When you search for an asset, search results are grouped according to asset class.

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop
  • Trailing Stop

There are also order time limits you can use: GTC (Good 'til cancelled) or GTD (Good 'till date).

Alerts and notifications

Similarly to the web trading platform, you can set only price alerts. You can choose to get notifications via email or SMS.

Visit broker

Fineco Bank review
Desktop trading platform

2.7
To try the desktop trading platform yourself, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank offers the PowerDesk platform for professional users. The platform is highly customizable, but it's not very user-friendly.
Pros Cons
Good customizability (for charts, workspace) Not user-friendly
Good search function No clear fee report available

Fineco Bank offers PowerDesk as a trading platform for professionals. This platform is available in English and Italian.

Look and feel

Fineco Bank's PowerDesk is highly customizable. However, the platform is not user-friendly. We think the font types are hard to read; and configuring your workspace, such as moving the various tabs around, is not that easy.

Fineco Bank review - Desktop trading platform

Login and security

The setup and login process is not entirely seamless. First, you have to download and install the program. Once you have installed Powerdesk, you can only log in from Fineco Bank's web trading platform. It would be easier if you could open Powerdesk directly from your computer.

Search functions

The search functions are good. You can search for an asset by typing its name or browsing among the asset class categories.

Fineco Bank review - Desktop trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop
  • Trailing stop

There are also order time limits you can use: Day, GTC (Good 'til canceled), or IOC (Immediate or cancel).

Fineco Bank review - Desktop trading platform - Order panel

Alerts and notifications

Similarly to Fineco Bank's web and mobile trading platform, you can set only price alerts on PowerDesk.

Portfolio and fee reports

Fineco Bank's PowerDesk has a clear portfolio report; you can find it in the 'Monitor' or 'P&L' sections. However, we couldn't find a fee report.

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Fineco Bank review
Markets and products

3.8
To dig even deeper in markets and products, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank has a wide product portfolio; from real stocks to CFDs, you can trade many asset classes. However, its selection of mutual funds and certain derivatives is limited.
Fineco Bank asset classes
  Fineco Bank Saxo Bank DEGIRO
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex Yes Yes No
Fund Yes Yes Yes
Bond Yes Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
CFD Yes Yes No
Crypto No Yes Yes

Fineco has great stock and ETF selections, while the range of products available in other asset classes is average or limited compared with similar brokers.

Stocks and ETFs

Fineco Bank covers many stock and ETF markets.

Fineco Bank stock and ETF selection
  Fineco Bank Saxo Bank DEGIRO
Stock markets (#) 13 28 30
ETFs (#) 5,500 3,100 5,400

You can trade stocks and ETFs on the biggest European and North American exchanges, plus some smaller European stock exchanges.

Fineco Bank stock and ETF markets
Europe North America
UK Italy Germany US - NASDAQ
Finland France Netherlands US - NYSE
Portugal Spain Switzerland US - AMEX
      Canada

You can also trade on the following markets via phone: Austria, Denmark, Greece, Ireland, Norway, Sweden, Australia, Hong Kong, Japan, Singapore and South Africa.

Forex

Fineco Bank's currency pair selection is average compared with similar brokers.

Fineco Bank offers forex assets in the form of forex CFDs.

Fineco Bank forex selection
  Fineco Bank Saxo Bank DEGIRO
Currency pairs (#) 54 182 -

Funds

Fineco Bank's mutual fund selection is limited. It does include some of the biggest fund providers though, such as Fidelity International.

Fineco Bank mutual fund selection
  Fineco Bank Saxo Bank DEGIRO
Fund providers (#) 5 17 64

UK customers can invest in only about 200 funds from 4 providers. On the other hand, Italian customers can invest in approximately 4,000 funds from several fund providers, including some 700 no-load funds.

Bonds

The number of available bonds is average compared with other brokers.

Fineco Bank bond selection
  Fineco Bank Saxo Bank DEGIRO
Bonds (#) 5,600 40,000 649

You can invest in bonds traded on the EuroMOT, ETLX, Euronext or OTC markets.

Options and futures

Fineco Bank has an average options and futures selection.

Fineco Bank futures and options selection
  Fineco Bank Saxo Bank DEGIRO
Futures markets (#) 4 23 14

You can trade options and futures listed on the IDEM, EUREX, CBOE or CME markets.

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.94% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Fineco Bank has a well-developed CFD spectrum with stock, index-tracking, commodity, forex and bond CFDs. The total number of these assets lags behind the company's closest competitors, however.

Fineco Bank CFD selection
  Fineco Bank Saxo Bank DEGIRO
Stock index CFDs (#) 16 29 -
Stock CFDs (#) 540 8,800 -
Commodity CFDs (#) 10 19 -
Bond CFDs (#) 12 5 -

Fineco Bank review
Research

4.0
To check the available research tools and assets, visit Fineco Bank

or
Compare to its best reviewed alternative: Saxo Bank
Fineco Bank has great research. From trading ideas to screeners, you can use many tools. On the negative side, its charting functions could use some improvement.
Pros Cons
Trading ideas Limited interactive charting
Data on asset fundamentals
Great screeners

You can find research tools both on Fineco Bank's web-based and on its PowerDesk trading platforms. We tested research tools on Fineco Bank's web trading platform, except for charting tools, which we tested on PowerDesk, as this platform has more advanced charting than the web trading platform.

Trading ideas

Fineco Bank provides trading ideas. For example, you can view analysts' buy/hold/sell recommendations, although it's not clear which institutions the analysts represent. You can find these ideas if you click 'Consensus'.

Additionally, you can find technical analysts' opinions under the 'Analysis' tab.

Fineco Bank review - Research - Recommendations

Fundamental data

Fineco Bank also offers fundamental data. These are quite extensive, including financial statements for the last 5 years, price and volume statistics, growth rates, and so on.

You can find these data under the 'Reports' or 'Indicators' tabs.

Fineco Bank review - Research - Fundamental data

Charting

Fineco Bank's PowerDesk has poor charting tools. The charting interface is not very user-friendly or well-designed. For example, we couldn't figure out how to scroll back the chart in time. As a plus, you can add a lot of technical indicators.

Fineco Bank review - Research - Charting

News feed

Fineco Bank's news feeds are OK. We liked the news filter function, which allows filtering for asset classes or countries. On the other hand, we missed visual elements in the news, such as graphs or tables.

You can also read Twitter messages from prominent third-party news providers such as Financial Times or Seeking Alpha.

Lastly, there is a great economic calendar. You can filter upcoming events or news according to country or impact.

Fineco Bank review - Research - Economic calendar

Other research tools you may enjoy

Fineco Bank has a great screener for stocks, as well as advanced, high-quality search tools for ETFs and bonds. You can choose among many criteria for filtering, including technical indicators or fundamental data.

Fineco Bank review - Research - Screener

Compare research pros and cons

Fineco Bank review
Customer service

4.0
To find customer service contact information details, visit Fineco Bank

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Compare to its best reviewed alternative: Saxo Bank
Fineco Bank has great phone and email support. There's also live chat, though it can be a bit slow. The only thing we missed was 24/7 support.
Pros Cons
Phone support No 24/7 support
Live chat
Relevant answers

You can contact Fineco Bank via:

  • telephone
  • email
  • live chat

Fineco Bank phone support works well. It's fast; we had to wait less than 15 seconds to be connected to an agent. The answers we received were relevant and helpful. For example, the agent clearly explained how multiday fees work for CFDs.

Similarly to phone support, we received fast and relevant answers via email, getting a reply within 24 hours.

Fineco Bank's live chat is OK. We received helpful answers, but we had to wait several minutes until an agent became available to reply to our questions.

We missed 24/7 availability. If you're a UK customer, you can contact Fineco Bank from Monday to Friday between 8 am and 9 pm. Italian customers can contact Fineco Bank from Monday to Friday between 8 am and 10 pm, and between 9 am and 8 pm during weekends.

Fineco Bank review - Customer Service

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Fineco Bank review
Education

3.0
To check the available education material and assets, visit Fineco Bank

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Fineco Bank's educational tools include webinars, 'Help' articles and a few videos. On the negative side, there is no demo account.
Pros Cons
Educational videos No demo account
Webinars

At Fineco Bank, you can learn in the following ways:

  • Platform tutorial videos
  • General educational videos
  • 'Help' articles
  • Webinars

Fineco Bank's educational videos cover only a few topics, such as the basics of various asset classes.

Unfortunately, there is no demo account, which we think is usually the best tool for learning the basics of trading.

Fineco Bank review - Education

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Fineco Bank review
Safety

To find out more about safety and regulation, visit Fineco Bank

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Fineco Bank is considered safe on many levels: it's regulated by top-tier authorities, is listed on an exchange, and has a banking background. Investor protection amounts are also high.
Pros Cons
High level of investor protection None
Banking background
Listed on stock exchange

Is Fineco Bank regulated?

Yes, Fineco Bank is regulated by the Bank of Italy and the Commissione Nazionale per le Società e la Borsa (Consob), and is subject to limited regulation by the UK's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Fineco Bank is also a member of Italy's National Interbank Deposit Guarantee Fund and National Guarantee Fund.

Is Fineco Bank safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Fineco Bank serves all of its clients through the same legal entity:

Fineco Bank investor protection
Country of clients Protection amount Regulator Legal entity
UK, Italy

€100,000 for cash

€20,000 for securities

Bank of Italy

Consob

FinecoBank S.p.A.

Background

Fineco Bank was established in 1999. The longer track record a broker has, the more proof we have that it has successfully weathered previous financial crises.

Fineco Bank has a banking license, and as such, it is subject to tougher regulations than brokers.

Fineco Bank is listed on the Italian stock exchange (Borsa Italiana), which is a big plus for safety as Fineco Bank is required to release financial statements regularly and transparently.

Having a banking license, being listed on a stock exchange and disclosing financial statements are all great signs for Fineco Bank's safety.

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Fineco Bank review
Bottom line

Visit Fineco Bank if you are looking for further details and information

or
Compare to its best reviewed alternative: Saxo Bank

Fineco Bank is a great service provider for trading and investing. It has a solid background as a bank, and its status is further strengthened by its listing on the Borsa Italiana. It is also a constituent of the Stoxx Europe 600 stock index.

Fineco Bank has low non-trading fees: there is no fee for inactivity, deposit or withdrawal. We also liked Fineco's mobile trading platform because of its user-friendliness.

However, Fineco Bank's deposit options, educational material and charting tools are limited.

As you can trade many products at a low cost and no inactivity fee is charged, feel free to give Fineco Bank's brokerage service a try.

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