Summary

Recommended for traders and investors looking for low fees and broker with a solid background

Fineco Bank was founded in 1999 and it is an Italian bank. It is regulated by the Bank of Italy, the Commissione Nazionale per le Società e la Borsa (Consob), and subject to limited regulation of the UK FCA and the PRA.

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

At the time of the review, Fineco Bank accepted customers from the UK and Italy. The service is a bit different for UK and Italian customers, e.g. there are different fees. In this review, we tested the UK services, but highlight the 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 transparently its financials.

Overall Rating
4.7
Fees
3.7
Account opening
4.4
Deposit and withdrawal
3.3
Trading platform
4.0
Markets and products
3.8
Research
4.0
Customer service
4.0
Education
3.0

Fineco Bank pros and cons

Fineco Bank has low trading fees for most asset classes, including stocks or ETFs. The non-trading fees are also low, no fees are charged for inactivity, deposit, or withdrawal. Fineco's 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 other hand, you can use only bank transfer for deposit. The educational tools cover only a few videos, webinars, and some Help articles. Lastly, the charting tools are not user-friendly.

Pros Cons
Low trading and 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 Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with credit/debit 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
Ádám Nasli

Ádám Nasli

Broker Expert

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.

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

3.7
Fineco Bank has low trading fees for most asset classes, including stocks or ETFs. The non-trading fees are also low, no fee is charged inactivity, deposit, and withdrawal. On the other hand, the forex fees are high and the costs of holding positions overnight, i.e. the financing rates, are high.
Pros Cons
Low stock, ETF, bond, and fund fees High forex and options fees
Low CFD and futures fees High fees for CFD overnight positions
Low non-trading fees
Fineco Bank fees snapshot
Assets Fee level Fee terms
US stock Low $3.95 per trade for UK customers, while $3.95-$12.95 per trade for Italian customers depending on the number of monthly trades
EURUSD Average The fees are built into spread, 0.8 pips is the average spread cost.
Mutual fund Low For UK customers: £0 - £250k 0.25% of trade value per year, £250k - £1m 0.15% of trade value per year, £1m - £2m 0.05% of trade value per year, £2m+ it's free. For Italian customers: €/$9 per trade, but there are~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 low. We also liked that the fee structure is transparent.

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

Stock fees and ETF fees

Fineco Bank has generally low stock and ETF commission. 

Fineco Bank stock and ETF commission of a $2,000 trade
  Fineco Bank Saxo Bank DEGIRO
US stock $4.0 $10.0 $0.6
UK stock $3.5 $9.6 $2.4
German stock $4.3 $11.0 $5.4

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% with €2.95 min and €19 max
Spain 0.19% with €14.95 min
Switzerland 0.19% with CHF 24 min

For Italian customers, the commission is a flat fee, but its value depends on the commissions generated in a month / the value of total assets / the total savings with Fineco Bank. It means that if you trade more, have assets with higher values, or have more savings with Fineco, the commissions will be lower.

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 €2.95 €2,500+ €2 million+ €1 million
2 €6.95 €1,500 €1 million €500k
3 €9.95 €100 €500k €250k
4 €19 €99 or less €499k or less €249k or less
US
1 $3.95 €2,500+ €2 million+ €1 million
2 $8.95 €1,500 €1 million €500k
3 $9.95 €100 €500k €250k
4 $12.95 €99 or less €499k or less €249k or less
Italy and other European markets
1 CAD 10 €2,500+ €2 million+ €1 million
2 CAD 15 €1,500 €1 million €500k
3 CAD 20 €100 €500k €250k
4 CAD 25 €99 or less €499k or less €249k or less

Forex fees

Fineco Bank has high forex fees. Fineco Bank's forex assets 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 $15.7 -
GBPUSD benchmark fee $18.2 $14.8 -
AUDUSD benchmark fee $34.0 $14.9 -
EURCHF benchmark fee $25.6 $4.4 -
EURGBP benchmark fee $20.7 $10.4 -

The only costs Fineco charges: spread cost and the multiday fees (the cost if you hold your position overnight).

The spread costs are average, while the 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

The 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 pm GMT.

Fund fees

Fineco Bank fund fees are low.

Fineco Bank commission for a $2,000 fund purchase
  Fineco Bank Saxo Bank DEGIRO
Mutual fund $0.0 $0.0 $10.3

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 band, you will be charged first band percentage for the first band and second band fee for everything above the first band (but less than the third band, of course). Holding volume is checked at the end of the month and the proportional part of the annual fee is charged monthly. 

Italian customers can invest in ~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 of a $10,000 government bond trade
  Fineco Bank Saxo Bank DEGIRO
EU government bond $8.3 $88.0 $10.5

The commissions are £6.95 per trade for UK customers, while 0.19% of trade value with a min of €5.95 and 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 $40.0 $5.0
UK stock index options - $36.0 -
German stock index options - $44.0 $9.9

The commissions are charged per contract and its value depends on how much commission you generate each month. It means that if you trade more, the commission will be lower.

Fineco Bank options fees
Monthly generated commission: Up to $499 $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 of 10 contracts
  Fineco Bank Saxo Bank DEGIRO
US micro e-mini stock index futures $7.0 $40.0 $5.0
UK stock index futures - $36.0 $0.0
German mini stock index futures $8.3 $44.0 $8.3

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

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, the futures fees depend on how much commission you generate each month. It means that if you trade more, the commission will be lower

Fineco Bank futures fees for Italian customers
Monthly generated commission: Up to $499 $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 $0.9 $22.2 -
Vodafone CFD fee $1.3 $21.3 -
S&P 500 index CFD fee $1.2 $2.2 -
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 the multiday fees, i.e. the cost of holding positions overnight, and the market spread. The multiday fees for stock CFDs are calculated as the following:

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

Regarding 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

The multiday fees for stock index CFDs are calculated as the following:

  • 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 fee.

There is no withdrawal fee for domestic bank and debit card transfers. If you use instant bank withdrawal, it would cost 0.20% with €0.85 min and €2.95 max. International bank transfers 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
Fineco Bank's account opening is fully digital and no minimum deposit is required. The account verification can take a bit longer, our account was verified after 2 business days.
Pros Cons
Fully digital Bit 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. It's great if you would like to start trading or investing with lower amounts.

Account types

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

Whenever you open an account with Fineco Bank, you open a Fineco current account automatically. Therefore, you can use your account for payments besides 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 ~15 minutes to complete. The account verification can take a bit longer, our account was verified after 2 business days.

Besides the online account opening, you can also open your account through the phone.

The 8 steps of Fineco Bank account opening:

  1. Add your personal information, like name or date of birth.
  2. Give 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 debit card from Fineco.
  6. Make a bank transfer in order to identify yourself.
  7. You get your 'Account opening password' by text and the 'Contract number' on email.
  8. You have to upload an ID as proof of identity and accept the T&Cs.

During the account verification, you can start using Fineco's web trading platform.  

Fineco Bank review - Account opening

Fineco Bank review
Deposit and withdrawal

3.3
Fineco Bank provides a multicurrency account with a great variety of account base currencies. Also, the deposit is free of charge. On the negative side, you can't use credit/debit cards or electronic wallets for deposit.
Pros Cons
No deposit fee Credit/Debit card is not available for deposit
Several account base currencies Missing electronic wallets
Free withdrawal in most cases

Account base currencies

At Fineco Bank, you can choose from a lot of account base currency.

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/debit card or would be instant.

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 would cost 0.20% with €0.85 min and €2.95 max. International bank transfers cost £19.95.

As you can also order a debit card from Fineco Bank, debit card withdrawal can be another withdrawal option besides the 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 the debit card 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 in your name.

Compare to other brokers

Fineco Bank review
Web trading platform

4.3
Fineco Bank has a great web trading platform. It's well-designed and provides many features, such as an easy 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 an own-developed web trading platform. The web trading platform is available in English or Italian, depending on whether you open the account from the UK or Italy.

Look and feel

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

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

Fineco Bank review - Web trading platform

Login and security

Fineco Bank provides only a one-step login. A two-step login would be more secure.

On the other hand, you can use an OTP, i.e. 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 that specific asset in asset class categories, like shares, CFDs, bonds, etc. We liked that the most relevant result is on the top and if you search for stocks, you can easily compare them with similar stocks.

Another option for searching is if you click on the 'Trading' section and start browsing on the left menu. The assets are categorized based on asset classes, countries, or exchanges.

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 'till canceled or IOC/immediate or cancel.

Fineco Bank review - Web trading platform - Order panel

Alerts and notifications

You can set alerts and notifications. However, you can set only price alerts. We missed other options, like alert about corporate events.

You can set to get email or SMS notifications.

Portfolio and fee reports

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

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Fineco Bank review
Mobile trading platform

4.7
Fineco Bank's mobile trading platform is easy to use, well-designed and has great search features. Similarly to the web trading platform, you can use only price alerts and can't set two-step authentication for the login.
Pros Cons
User-friendly None
Good search function
Modern design

Fineco Bank has its own-developed mobile trading platform, which is available both on 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 the features that 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. Providing these features would be more secure.

On the other hand, you can use Mobile Code, which allows you to confirm the transactions either through a mobile code or 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, the search results are categorized based on asset class type.

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 'till 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 a notification on email or through SMS.

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Fineco Bank review
Desktop trading platform

2.7
Fineco Bank provides PowerDesk for more professional users. The platform has high customizability, but its user-friendliness can be improved.
Pros Cons
Good customizability (for charts, workspace) Not user-friendly
Good search function No clear fee report available

Fineco Bank provides PowerDesk as a platform for professionals. This platform is available in English and Italian, depending on whether you open your account from the UK or Italy.

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 the configuration of the workspace is not so easy.

Fineco Bank review - Desktop trading platform

Login and security

The setup and login process is not fully seamless. First, you have to download and install the program.

After you 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 'till canceled, or IOC/Immediate or cancel.

Fineco Bank review - Desktop trading platform - Order panel

Alerts and notifications

Similarly to Fineco'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. However, we haven't found a clear fee report. You can find these reports if you click on 'Monitor' or 'P&L' sections.

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Fineco Bank review
Markets and products

3.8
Fineco Bank has a wide product portfolio. From real stocks to CFDs, you can trade with a lot of asset classes. On the other hand, the mutual fund and certain derivatives selections are 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 selection, while the selection of other asset classes is average or limited compared with similar brokers.

Stocks and ETFs

Fineco Bank covers a lot of stock and ETF markets.

Fineco Bank stock and ETF selection
  Fineco Bank Saxo Bank DEGIRO
Stock markets (#) 13 28 28
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 through 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 to similar brokers.

Fineco Bank provides forex assets as forex CFDs.

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

Funds

Fineco Bank's mutual fund selection is limited.

Fineco Bank mutual fund selection
  Fineco Bank Saxo Bank DEGIRO
Fund providers (#) 4 17 68

UK customers can invest only in ~200 funds from 4 providers. On the other hand, Italian customers can invest in ~4,000 funds from several fund providers, and these funds include ~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 40,000 870

You can invest in bonds provided from EuroMOT, ETLX, Euronext, or OTC markets.

Options and futures

Fineco Bank has 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 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 lag behind the competitors.

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
Fineco Bank has great research. From trading ideas to screeners, you can use a lot of research tools. On the negative side, the charting tools can be improved.
Pros Cons
Trading ideas Limited interactive charting
Data on asset fundamentals
Great screeners

You can find research tools both on Fineco Bank's web trading and PowerDesk platforms. Except for charting tools, we tested research tools on Fineco Bank's web trading platform. We tested charting tools 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 find analysts' opinions about buy/hold/sell, however, it's not clear which institutions the analysts come from. You can find these ideas if you click on 'Consensus'.

In addition, you can find technical analysts' opinions if you click on the 'Analysis' tab.

Fineco Bank review - Research - Recommendations

Fundamental data

Fineco Bank offers fundamental data. You can find a lot of data, including financial statements for the last 5 years, price and volume statistics, growth rates, etc.

You can find these data if you click on 'Reports' or the 'Indicators' tabs.

Fineco Bank review - Research - Fundamental data

Charting

Fineco Bank's PowerDesk has poor charting tools. The charting tools' interface is not user-friendly and well-designed. For example, we couldn't find the way how we can 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 that you can news filters, like 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 collected from prominent third-party news providers, like Financial Times or Seeking Alpha.

Lastly, there is a great economic calendar you can use. You can filter the upcoming events or news based on their country and impact.

Fineco Bank review - Research - Economic calendar

Other research tools you will enjoy

Fineco Bank has a great screener for stocks and advanced search tools for ETFs and bonds.

We really liked the quality of the screener and the advanced search tools. You can choose among a lot of 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
Fineco Bank has a great phone and email support. We also liked that you can contact them via live chat even if the speed of the live chat is a bit slow. The only thing we missed is the 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 sec until an agent was connected. The answers we received were relevant and helpful. For example, the agent clearly explained how the multiday fees work in the case of CFDs. 

Similarly to phone support, we received fast, less than 24 hours, and relevant answers on email.

The live chat is OK. We received helpful answers, however, we had to wait more minutes until the agent replied to our questions.

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

Fineco Bank review - Customer Service

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Fineco Bank review
Education

3.0
Fineco Bank's educational tools cover webinars, 'Help' articles, and a few videos. However, you can't use a 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

The educational videos cover only a few topics, such as the basics of asset classes.

We missed the demo account, we think the demo account is the best tool for learning.

Fineco Bank review - Education

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Fineco Bank review
Safety

Fineco Bank is considered safe on multiple levels: it's regulated by top-tier authorities, listed on the Borsa Italian stock exchange, and it has a banking background. The provided investor protection is also high, it's up to €100,000 for cash and €20,000 for securities.
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, Commissione Nazionale per le Società e la Borsa (Consob), and subject to limited regulation by Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Fineco Bank is also a member of the National Interbank Deposit Guarantee Fund and the 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 survived 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 Borsa Italian stock exchange, which is a big plus for safety as Fineco Bank releases 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

Fineco Bank is a great service provider for trading/investing. It has a solid background:

  • it has a banking background,
  • it is listed on the Borsa Italiana,
  • it is a constituent of the Stoxx Europe 600 stock index.

Fineco Bank has low fees for stocks, ETFs, bonds, mutual funds, CFDs, and futures. There is no fee for inactivity, deposit, or withdrawal. We also liked Fineco's mobile trading platform because of its user-friendliness.

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

All in all, Fineco Bank is a great solution for trading or investing. As you can trade many products at a low cost and no inactivity fee is charged, feel free to give it a try.

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