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
Fees
- 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 |
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'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 |
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 |
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 |
Safety
- High level of investor protection
- Banking background
- Listed on stock exchange
Deposit and withdrawal
- No deposit fee
- Several account base currencies
- Free withdrawal in most cases
Account opening
- Fully digital
- No minimum deposit
Mobile app
- User-friendly
- Good search function
- Modern design
Desktop platform
- Good customizability (for charts, workspace)
- Good search function