Overview of Fineco Bank fees and charges
When it comes to brokerage fees Fineco Bank shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether Fineco Bank fees are an advantage for you. Continue reading about Fineco Bank fees and charges to see if this is the right brokerage for you or a similar broker like Saxo Bank or Interactive Brokers is better for you.
Here's a high level overview of Fineco Bank's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| US stock fee | 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 fee | Average | The fees are built into the spread, 0.8 pips is the average spread cost during peak trading hours. |
| US tech fund fee | 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 |
Fineco Bank fees
Fineco Bank fees explained
We compare Fineco Bank fees with its closest competitors, Saxo Bank and Interactive Brokers.
Fineco Bank fees
Fineco Bank trading fees
Fineco Bank's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.
Let's break down the trading fees into the different asset classes available at Fineco Bank.
Trading fees
Fineco Bank's trading fees are average.
Stock fees and ETF fees
Fineco Bank has low stock trading fees.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| US stock | $4.0 | $10.0 | $1.0 |
| UK stock | $3.3 | $9.0 | $3.4 |
| German stock | $3.9 | $9.9 | $3.0 |
Forex fees
Fineco Bank's forex fees are high.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| EURUSD benchmark fee | $18.6 | $14.6 | $14.7 |
| EURGBP benchmark fee | $20.0 | $12.0 | $12.6 |
Fund fees
Fineco Bank fund fees are low.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Mutual fund | $0.0 | $0.0 | $15.0 |
| EU mutual fund | - | - | $4.4 |
Bond fees
Fineco Bank has low bond fees.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| US Treasury bond | - | $79.2 | $5.0 |
| EU government bond | $7.9 | $79.2 | $10.0 |
Options fees
Fineco Bank's options fees are high.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| US stock index options | $39.5 | $30.0 | $6.5 |
| UK stock index options | - | $28.3 | $19.2 |
| German stock index options | - | $39.6 | $16.8 |
Futures fees
Fineco Bank's futures fees are low.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| US micro e-mini stock index futures | $7.0 | $40.0 | $2.5 |
| UK stock index futures | - | $33.9 | $19.2 |
| German e-mini stock index futures | $7.4 | $39.6 | $7.9 |
CFD fees
Fineco Bank has low CFD trading fees.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Apple CFD | $0.1 | $10.1 | $1.1 |
| Vodafone CFD | $0.4 | $9.4 | $3.8 |
| Germany | - | $11.4 | $3.4 |
Financing rates
Fineco Bank financing rates are high.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Apple CFD financing rate | 3.9% | 7.3% | 5.3% |
| Vodafone CFD financing rate | 3.9% | 5.7% | 4.5% |
| EURUSD financing rate | 4.4% | 3.4% | 2.7% |
| EURGBP financing rate | 4.6% | 2.4% | 2.1% |
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Currency conversion fee
Fineco Bank will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: 1% mark-up.
Fineco Bank fees
Fineco Bank non-trading fees
When it comes to looking at all the non-trading fees Fineco Bank is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.
Non-trading fees include various brokerage fees and charges at Fineco Bank that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | No | Yes | No |
| Account fee | No | No | No |
Fineco Bank fees
Fineco Bank deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Fineco Bank is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Fineco Bank offers.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | No |
| Electronic wallets | No | No | No |
| Deposit fee | $0 | $0 | $0 |
Fineco Bank fees
Fineco Bank withdrawal fee
Unlike some online brokers we have reviewed Fineco Bank does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | No |
| Electronic wallets | No | No | No |
| Withdrawal fee with bank transfer | $0 | $0 | $0 |
Fineco Bank fees
Fineco Bank inactivity fee
Fineco Bank does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).
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