FinecoBank Review

Richard Montana | May 5, 2022

FinecoBank is an Italian bank that offers online trading services, asset management, and banking services. The bank was founded back in 1999 in Milan, but now has an office in London from where it serves a global client base. You can get access to trade online across a good choice of asset classes, including forex, indices, stocks, commodities, bonds, futures, options, and ETFs. They combine premium services with competitive pricing. I am impressed with the history of the group and believe that they have a solid trading service if you are looking to buy and sell financial instruments in a professional and regulated environment.

Broker Pros / Cons
  • Regulated in multiple jurisdictions
  • Formed way back in 1999
  • Give you access to an advanced proprietary trading platform
  • Web based platform & mobile app for trading on the go
  • Competitive trading conditions & fees
  • Good variety of educational resources
  • Trading guides & tutorial videos to teach beginners
  • Market analysis from experts
  • Provide banking, trading and asset management services
  • Limited funding options
  • No MetaTrader platforms
  • Platform fees
  • No cryptocurrency trading


Established in Italy way back in 1999, they are one of the true pioneers of online trading services back when the industry was just getting started. They have since grown to become one of the biggest banks to provide online trading services in Europe. There are not many brokers out there who can compare in terms of experience in the financial markets, IG being amongst those who can.

FinecoBank’s wide range of products and services include globally accessible banking, asset management, and online financial trading in a wide range of assets, such as forex, indices, stocks, commodities, bonds, futures, options, and ETFs. You can trade with very competitive conditions, including commission free trades on share CFDs and no additional hidden charges on stock prices.

FinecoBank Brokerage Features

FinecoBank Brokerage Features

The bank is publicly traded, and as one of Europe’s biggest banks, it is part of the Stoxx 600 companies. It has over 1.3 million clients in Italy alone and has over €70 billion in total financial assets. The brokerage arm has won several awards over the years which is testament to the quality they provide. On the trading aspect, the bank processes close to 30 million orders every year through its advanced trading platforms and mobile trading app.

I personally think it is great that you can do everything under one roof. I find that this makes it easier to manage funds and investments, without needing the complications and fees when moving between institutions. If you are looking for an all in one solution based in Europe, I would certainly consider them as viable option. I also like that there is no minimum deposit requirement and no custody or admin fees.


You can trade with confidence knowing that they are regulated by the relevant authorities in Italy, Ireland, and the UK. This means that they must adhere to strict rules and operate in a transparent manner.

FinecoBank is a trademark licensed for use by FinecoBank S.p.A., which is authorized by the Bank of Italy and subject to limited regulation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

Whilst the broker does not provide the details about the extent of their regulation by the FCA and PRA, they do state that the details can be made available on request. The asset management arm, Fineco Asset Management D.A.C, is regulated by the Central Bank of Ireland.

FinecoBank is a member of the National Compensation Fund and the National Interbank Deposit Guarantee Fund. The bank is listed on the Stoxx Europe 600, the index of large-cap European companies.

FinecoBank offers its services to Italian and UK clients, as well as traders from other European Union member states. The broker also accepts traders from different parts of the world, provided the trader’s country of residence allows online trading with an international brokerage firm. FinecoBank does not accept clients from the USA. If you are looking for a broker in another part of the world, feel free to browse our broker reviews for alternative options.


FinecoBank provides you with an advanced and sophisticated trading platform designed and built in-house to satisfy the special needs of both retail and institutional traders alike. Currently handling more than 75,000 executed orders on a daily basis, I found the platform to be a powerful, fast, and customizable work station that is easy to use, regardless of your experience level.

FinecoBank Platforms

FinecoBank Platforms


PowerDesk Platform

The PowerDesk trading platform is available as a web platform that runs directly in your web browser, such as Google Chrome, Firefox, Edge, and Safari. This is good because it means that you can access the platform at any time without having to download or install any additional software.

FinecoBank PowerDesk Trading Platform

FinecoBank PowerDesk Trading Platform

With this innovative trading platform, you can access your account to trade the markets from anywhere in the world, with any device that is connected to the internet. It can easily be opened from your computer, laptop or mobile devices.

The platform offers a full suite of important features on one screen to make your trading easier. Some of these standout features for me include the following:

  • Live prices
  • Intuitive chart trading
  • +6,000 real-time news per day
  • Push notifications
  • Automatic orders
  • Personalized dashboards
  • Technical analyses & historical reports
  • Personalized listings
  • Multiple charts
  • Economic calendar
PowerDesk Overview

PowerDesk Overview

PowerDesk also gives you a detailed snapshot of every security, with live quotes, main figures, detailed reports, datasheets, and analyst’s recommendations. There are also free streaming quotes for UK, EU, and US markets with 5-levels order book. This makes it a breeze to follow the markets and stay informed with any breaking news. It also features a stock screener that helps you find the right stock to trade by searching with your preferred parameters.

Fineco Mobile Trading App

You can also trade using the mobile app version of the FinecoBank platform. The app can be downloaded from the relevant app stores for different mobile devices, and they are highly rated by users. With the Fineco App, you can trade all products on the go, from anywhere you are provided you have an internet connection. The trading app features mobile streaming quotes and news, live P&L updates, and customizable interactive charts.

FinecoBank Mobile Trading App

FinecoBank Mobile Trading App

I am a big fan of the app as it allows you to keep track of any open trades and take new positions directly from your mobile phone. I don’t always want to power up my computer to access my account. Plus, this takes time and sometimes we need to act quickly on market news.


Unfortunately, FinecoBank does not offer any standalone trading tools. However, their sophisticated trading platform has a wide range of built-in advanced trading tools that can help both new and experienced traders get the best out of their trading. Some of the useful trading tools built into the PowerDesk platform include an economic calendar, numerous technical indicators, a stock screener, and many more.

Stock Screener

Stock Screener

I think that the built-in tools should be more than enough for most traders and certainly meet my needs. They have everything I need for market analysis and order management. If you want lots of extra tools to experiment with, BlackBull Markets have an excellent selection.


FinecoBank provides a number of educational and research materials to help you improve your knowledge of the financial markets and your overall trading skills. Some of the educational resources that they currently provide or intend to provide soon include video tutorials, online trading courses, and weekly live webinars.

I enjoyed the market analysis aspect as I felt that it can help to inspire trade ideas. Each week, their expert analysts guide you through the trends and patterns in the markets to reveal potential trade setups. In each webinar, the analyst reveals emerging trading opportunities by cutting through the information overload to:

  • Provide real-time technical analysis and fundamental insights in the forex markets
  • Filter out the most important macro-economic events listed on the economic calendar
  • Provide in-depth investor and trader training on the Fineco Advanced Platform, with live trades and follow-up

It seems as though they are constantly working on adding new content which is great as it helps make sure clients are making informed trading decisions. Whilst I did find a decent amount of trading guides, they don’t quite compare to Admirals who I consider a leader when it comes to educating traders.


You can choose to trade on a wide variety of financial instruments that span multiple asset classes, including the following:

  • Forex: You can trade over 50 major and minor forex currency pairs.
  • Stocks: There are thousands of UK, EU, and US stocks to choose from.
  • Indices: With the broker, you can trade CFDs on multiple market indices, such as the S&P, Dow, Dax, and others.
  • Commodities: You can also trade CFDs on several commodities, including metals, energies, and softs.
  • Bonds: Many government bonds and over 6,000 sovereign, corporate, and structured securities are available.
  • Futures: There are standard, E-mini, and micro E-mini futures contracts on CME, Eurex, and IDEM available for trading with up to x20 leverage.
  • Options: You can trade options on S&P, Dow Jones, Nasdaq, Russell, and the Volatility Index (VIX), which are traded on the CBOE markets.
  • ETFs: There is a range of ETFs and ETCs available for trading.

I am really impressed by the generous selection of financial instruments available and would put them up there with the best in class when it comes to the markets you can trade. TMGM also have a great variety of more than 15,000 instruments, putting them amongst our best stock brokers. However, if you want to trade cryptos then you will need to look elsewhere. I would consider XTB as an alternative as they have a good range of cryptocurrencies for you to choose from.


FinecoBank has three main components to their services: banking, asset management, and online trading. The type of account that you opt for will probably depend on the services that you want to use. For the online trading services, you will need to open a trading account, which gives you access to all the instruments offered and allows you to use their advanced trading platforms.

FinecoBank Trading Fees

FinecoBank Trading Fees

I really like that there are no minimum deposits, no market connectivity costs, no inactivity charges, no portfolio transfer costs, and no conversion fees. The spreads and commissions vary with the instruments traded. I found the forex spreads to be reasonable, especially considering there is no commission. However, they do not have zero spreads like XM Group do.

If you are primarily a forex trader who needs the lowest spreads for your strategies, then you might want to consider looking elsewhere. If you are not fussed about spreads then all other instruments have really competitive commissions.

Depending on the market, you can use up to 1:20 or more leverage. I think this is satisfactory as I find using too much leverage to be risky. If you are experienced and want access to higher leverage, Traders Way offer 1:1000. They just don’t have the same regulation as FinecoBank, so you will need to weigh up the pros and cons of each.

If you are interested in their asset management services, you can open the investing account. It requires a £100 minimum deposit. The annual management fees (platform fees) depend on your portfolio size — the more you hold in your portfolio, the less you pay. I think it is great that they reward you for your loyalty as not all brokers do this unless you ask them directly.

FinecoBank Platform Fees

FinecoBank Platform Fees


I found the company to have a knowledgeable customer support team that responds promptly to general, technical, and account-related questions. They are available from Monday to Friday, from 8:00 a.m. to 9:00 p.m. (CET). You can reach them via email, telephone, and online chat. They are also available on Facebook, LinkedIn, and Twitter. I personally prefer live chat support as it means I can get a quick answer to my questions. I don’t always want to wait around hours on end for an email, especially if I have a time sensitive question that I need to act on.


They have a limited choice of account funding and withdrawal options. To fund your trading account, you can do a wire transfer to your FinecoBank account. For withdrawals, the broker will issue you a Visa debit card. Transaction fees and card maintenance fees may apply. I found these deposit and withdrawal options limited compared to many other brokers such as FXPRIMUS who support a larger range of payments.

I would like to see them add some digital wallet payment options but I understand that they may not want to as they are also a bank themselves, so there could be some conflict of interest there. Nevertheless, if you are happy with wire transfers and card payment, you can’t really go wrong.


Opening an account takes just a few minutes and involves a few simple steps. You just need to click on the “Open Account” button on the top right corner of the broker’s website and fill the displayed form.

FinecoBank Account Opening

FinecoBank Account Opening

You will have to tick the type of account you wish to open and input your promo code if you have one. They will request for your proof of identity and address. You will also be asked to provide your Tax Identification Number (e.g. NINo or UTR for UK resident).

Once your account has been verified, you can fund it and start trading. The whole process is relatively straightforward from start to finish. Just make sure you carefully read and understand all of the terms and conditions before you proceed to do so.


What is the FinecoBank minimum deposit?

The minimum deposit required by FinecoBank is $1.

How do I deposit money into FinecoBank?

You can fund your FinecoBank account through bank transfer or credit/debit cards.

What are FinecoBank deposit fees?

Interestingly, FinecoBank does not charge any deposit fees. This is an exciting feature as the broker won’t deduct anything from your account.

How do I withdraw money from FinecoBank?

You can withdraw funds from your FinecoBank account using bank transfer and credit/debit cards.

What are the FinecoBank withdrawal fees?

FinecoBank charge a monthly withdrawal fee of $10.

What is the FinecoBank commission fee?

FinecoBank have low commission fees, starting from $0.

Are there any FinecoBank inactivity fees?

FinecoBank does not charge any inactivity fees on the dormant account. This is an exciting feature as many brokers would impose a certain charge on inactive accounts.

What are the FinecoBank account types?

FinecoBank offers three major services: banking, asset management, and online trading. The kind of account you open will probably depend on the services that you want to use.

Is there a FinecoBank demo account?

Yes, Fineco Bank Demo Account offers a free demo trading account for beginner traders to acquaint themselves with the broker’s platforms. The demo account comes preloaded with virtual funds to test your trading strategies without any risk involved and get a feel for what the broker offers before investing real funds.

What are the FinecoBank spreads?

FinecoBank has low spreads starting from just one pip on the EUR/USD currency pair; the spreads may vary depending on the instrument, market conditions, account types, and liquidity providers.

What is the FinecoBank leverage?

FinecoBank offers leverage of up to 1:20 to clients.

Do FinecoBank allow hedging, scalping, news trading & automated trading?

Yes, FinecoBank allows all trading styles, including automated trading, hedging, and news trading.

Is there a FinecoBank Islamic account?

Fineco Bank does not offer an Islamic Account. Unfortunately, this means that the broker does not provide swap-free accounts that are designed for Muslim clients.

What are FinecoBank trading instruments?

FinecoBank allows clients to trade the following financial instruments: forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, options, bonds, ETFs, and CFDs.

How do I open a FinecoBank live account?

You can open a new FinecoBank account by clicking on the “Open Account” button at the top right corner of the broker’s website.

How do I verify my FinecoBank account?

You can verify your FinecoBank account by providing proof of identification and up-to-date proof of address, no more than six months old.

What is the FinecoBank trading platform?

FinecoBank provides traders with the PowerDesk trading platform, an advanced trading platform designed and built in-house to satisfy retail and institutional traders’ needs. The trading platform is available in web and mobile versions.

Where can I download the FinecoBank platform?

You can download the FinecoBank trading platforms directly from the broker’s website or the relevant iOS and Android app stores.

Where is FinecoBank located?

FinecoBank is based in Italy.

Is FinecoBank regulated?

Yes, FinecoBank is regulated by several strict regulatory authorities, such as CBI, FCA, PRA, and CONSOB.

What countries does FinecoBank not accept?

FinecoBank does not accept clients from countries where the use of their services would be contrary to local laws and regulations.

Is FinecoBank a scam?

No, we believe that FinecoBank is not a scam. Various strict regulatory authorities regulate the broker.

How can I contact FinecoBank support?

You can contact FinecoBank’s support team through the following contact channels: email, telephone, online chat, and various social media channels, including Facebook, LinkedIn, and Twitter.


Compare Broker (vs Our Top 3 Brokers)
Broker FeaturesAvaTradeIGIC Markets
CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
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TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
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I am really impressed with FinecoBank for many reasons. I like how they are an all-in-one financial servicing firm that offers a great combination of banking services, online brokerage services, and asset management services. For their online trading service, they provide you with an advanced web trading platform and convenient trading app that makes trading an enjoyable experience. You can trade thousands of financial instruments with low fees and tight spreads, up there with some of the very best in the industry. The regulation and history of the company is also a huge selling point from my perspective.

However, they are lagging behind in some areas. I would like to see some more funding options provided and they do charge platform fees. On the other hand, there are a majority of brokers who will let you trade on the MetaTrader platforms free of charge – unfortunately, they do not have this platform. If you are a MetaTrader user then you may want to consider Pepperstone instead. They have the MT4 & MT5 platforms. FinecoBank also do not currently support crypto trading but if that is not an issue for you, then they are certainly ranking amongst the top European brokers I have reviewed.

FinecoBank Logo

Min $1 Deposit

FinecoBank is an Italian bank that offers online trading services, asset management & banking services to a global clientele. They offer online trading in multiple asset classes including Forex, Stocks & CFDs.

69.31% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

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