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Fineco Bank Review 2024

Written by
Adam N.
Fact checked by
Gyula L.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
1,762 people chose this broker
Not available in United States; see best alternatives

Why choose Fineco Bank

Fineco Bank is an Italian stockbroker and bank, regulated by the Bank of Italy, Consob, and subject to limited regulation by the top-tier UK authorities FCA and PRA.

It has low non-trading fees, including no fees for inactivity, deposits or withdrawals. 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 negative side, you can use only bank transfer for depositing funds. Educational materials consist of only a few videos, webinars and some 'Help' articles. Lastly, charting tools are not very user-friendly.

BrokerChooser gave Fineco Bank a 4.5/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low non-trading fees
  • Great mobile trading platform
  • Rock-solid background
Overall score
4.5/5
Minimum deposit
$0
Stock fee
Low
FX fee
High
Inactivity fee
no
Account opening
1-3 days
Not sure if this is the right broker for you? See the best ones.

Fees

Score: 3.1/5
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.
  • Low stock and ETF fees
  • Low fund fees
  • No inactivity fees

We compared Fineco Bank's fees with two similar brokers we selected, Saxo Bank and Interactive Brokers. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Fineco Bank alternatives.

Low stock and ETF commission

Fineco Bank US stock fees are slightly higher than the industry average. US stock fees are calculated as follows: $3.95 per trade for UK customers; $3.95-$12.95 per trade for Italian customers, depending on the number of monthly trades

Broker
US stock
Fineco Bank
$4.0
Saxo Bank
$1.6
Interactive Brokers
$1.0
Fineco Bank stock and ETF commission

High FX fees

All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 1.0.

Broker
EURUSD spread
FX commission per lot
Fineco Bank
1.0
No commission is charged
Saxo Bank
0.8
No commission is charged
Interactive Brokers
0.2
Trade value less than $1 billion: 0.2 bps * trade value; min. $2
Fineco Bank forex spreads and commissions

Fineco Bank's forex products are provided as CFDs.

High options commission

The US stock index options fees at Fineco Bank is the highest among the brokers we reviewed. US stock index options fees are calculated as follows: $3.95 to $1.95 per contract depending on the monthly traded volume

Broker
US stock index options
Fineco Bank
$39.5
Saxo Bank
$20.0
Interactive Brokers
$6.5
Fineco Bank stock index options commission

No inactivity fee, no withdrawal fee

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.

Broker
Inactivity fee
Withdrawal fee
Fineco Bank
$0
Saxo Bank
$0
Interactive Brokers
$0
Fineco Bank inactivity, withdrawal and other fees

Other commissions and fees

Low mutual fund commission: trading mutual funds involves the following charges - 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..

Low futures fees: US index futures fees are as follows - $0.70 per contract for UK customers, while $1.25-$1.00 per contract for Italian customers depending on the number of monthly trades.

Low bond commission: EU government bonds come with the following charges - £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.

High margin rates: the USD annual margin rate is 13.4%.

Broker
Mutual fund
US micro e-mini stock index futures
Fineco Bank
$0.0
$7.0
Saxo Bank
$0.0
$30.0
Interactive Brokers
$15.0
$2.5
Misc. fees compared with other brokers

Safety

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.
  • High level of investor protection
  • Banking background
  • Listed on stock exchange
Read more

Deposit and withdrawal

Score: 4.3/5
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.
  • No deposit fee
  • Several account base currencies
  • Free withdrawal in most cases
Read more

Account opening

Score: 4.4/5
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.
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 4.4/5
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.
  • User-friendly
  • Good search function
  • Modern design
Read more

Desktop platform

Score: 2.4/5
Fineco Bank offers the PowerDesk platform for professional users. The platform is highly customizable, but it's not very user-friendly.
  • Good customizability (for charts, workspace)
  • Good search function
Read more

Product selection

Score: 3.8/5
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.
Read more
“I recommend Fineco Bank for traders and investors looking for a great trading platform and a broker with a solid background.”

FAQ

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Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

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.

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