Is Fineco Bank free?
Fineco Bank does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with Fineco Bank though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.
We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).
Fineco Bank fees
Overview of Fineco Bank fees and charges
When it comes to brokerage fees, Fineco Bank is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether Fineco Bank fees are beneficial for you. Continue reading about Fineco Bank fees and charges to see if this is the right broker for you, or if a similar broker like Saxo Bank or Interactive Brokers might suit you better.
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 mutual fund fees | 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
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.
This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:
- Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
- A commission is either fixed or based on the traded volume.
- A spread is the difference between the buy price and the sell price.
- A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.
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 mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.
Let's break down trading fees according to 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 options | $39.5 | $30.0 | $6.5 |
| 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 |
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.
Margin rates
Fineco Bank margin rates are high.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| USD margin rate | 11.8% | - | 5.3% |
| EUR margin rate | 9.4% | - | 2.8% |
Fineco Bank fees
Fineco Bank non-trading fees
When it comes to non-trading fees, Fineco Bank is a rather cheap broker.
Non-trading fees include various brokerage fees and charges at Fineco Bank that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or 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
Usually, brokers don't charge anything for deposits, and Fineco Bank is no different.
| 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
Fineco Bank generally doesn't charge a withdrawal fee.
| Fineco Bank | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | No |
| Electronic wallets | No | No | No |
| Withdrawal fee for 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 won't be charged even if you do not trade for an extended period (like several months or years).
