FinecoBank Review
Finecobank is a bank that also provides trading and asset management services in 20,000+ trading instruments with a proprietary PowerDesk platform. The broker offers tight spreads and commission-free trading. There is no minimum deposit requirement, deposit or withdrawal fee, and an inactivity fee. Wire transfer is the only funding option supported by FinecoBank.
FinecoBank is an online trading broker that offers asset management and banking services. FinecoBank was established in 1999 and currently operates from Milan, Italy. In addition to its long track record, FinceBank is listed on Stoxx Europe 600. Moreover, the company falls under strict regulations from FCA and PRA, with a membership of the National Compensation Fund and the National Interbank Deposit Guarantee Fund. The bank is also regulated by the Bank of Italy and Consob. Fineco Asset Management is a subsidiary of FinecoBank and is regulated by the Central bank of Ireland.
FinecoBank provides access to 26 global markets with an impressive range of over 20,000 trading instruments from various asset classes, including forex, commodities, shares, indices, bonds, options, and funds with tight spreads and minimal commissions. In addition, FinecoBank provides access to markets with its state-of-the-art PowerDesk trading platforms on web browsers and mobile apps.
FinecoBank provides its clients with various useful trading tools that exist in the trading platform. In addition, the broker offers various educational resources, including videos, webinars and market analysis.
FinecoBank is a regulated bank, online broker and asset management firm established in 1999 and has gained a lot of credibilities ever since. Finecobank provides trading with comparatively lower costs than the industry standard. Tight spreads and commission-free trading are available with FinecoBank. The broker provides a huge selection of over 20,000 products in its portfolio, covering various asset classes except for cryptocurrencies. In addition, FinecoBank does not require a minimum deposit which means you can get started with any amount that you feel comfortable with. PowerDesk is a proprietary trading platform provided by FinecoBank, which has an elegant design and lots of useful features. Moreover, there are multiple account base currencies to choose from so you could save on currency conversion fees. The broker offers some excellent tools in stock screeners and various educational resources, including an economic calendar, webinars, video tutorials and training. Lastly, FinecoBank provides customer support during weekdays and working hours.
On the other hand, it’s a bit hard to find the exact information regarding accounts, and the broker only accepts funds via bank transfers. There are not any other deposit methods available which is restrictive when many brokers accept card payment and e-wallets. In addition, FinecoBank does not have a lot of educational resources and trading tools compared to some other brokers such as Swissquote. There are no MetaTrader platforms, AutoChartist and Trading Central. Finecobank does not provide customer support 24/7, and there is a platform usage monthly fee. Moreover, there are high overnight fees, and the broker does not offer swap-free Islamic accounts.
FinecoBank has a huge portfolio of market offerings. The broker provides access to 26 global markets with over 20,000 trading instruments from various asset classes, including forex, CFDs, commodities, shares, indices, options, bonds and ETFs.
Unfortunately, FinecoBank does not provide crypto spot or its derivatives to trade. Neither does it offer or accept crypto funding. If you are looking to trade cryptos then you might want to take a look at our best crypto brokers for some alternative options.
FinecoBank Instruments Summary
Instruments | FinecoBank |
---|---|
Forex | ✓ |
Stocks | ✓ |
Indices | ✓ |
Commodities | ✓ |
Cryptos | x |
Options | ✓ |
Bonds | ✓ |
ETFs | ✓ |
CFDs | ✓ |
Commission and Spread Fees
FinecoBank offers decent spreads starting from 0.8 pips on EURUSD, 0.4 pips on CFDs index, and 0.2 pips on commodity futures. Meanwhile, FinecoBank offers commission-free stock CFDs trading. These are not the lowest spreads that I have come across for trading forex. You can get spreads from 0.0 pips via IG, who also have a great selection of more than 18,000 financial instruments.
Fee | Standard Account |
---|---|
Commission (per standard lot per side) | $0 |
Spreads from | 0.8 (Forex) |
Deposit and Withdrawal Fees
Fortunately, FinecoBank does not charge any deposit or withdrawal fee.
Inactivity Fees
On the upside, FinecoBank does not charge any fee for inactive accounts.
FinecoBank offers its clients an innovative and sophisticated trading platform created in-house to meet the unique demands of retail and institutional traders. The PowerDesk platform is a robust, quick, and customised work station that is simple to use for traders of all skill levels. In addition, there is a web version of PowerDesk and a mobile trading app.
FinecoBank does not provide any dedicated trading tools. PowerDesk, on the other hand, has a plethora of built-in advanced trading tools that may assist both new and seasoned traders in getting the most out of their trading. An economic calendar, various technical indicators, a stock screener, and other essential trading tools are included in the PowerDesk platform.
On the other hand, FinecoBank lags in providing industry-standard trading tools such as Trading Central and Autochartist. In addition, the broker does not offer copy trading and social trading, which limits the options for traders. If you are a fan of market analysis and want access to some tools to assist you, Forex.com have a great selection, including both Autochartist and Trading Central.

PowerDesk Trading Platform
FinecoBank’s online platform serves a wide range of markets. Fineco has made it simple for traders to access everything they need – including forex, CFDs, and money – by putting banking and investing together under one roof. The Fineco online platform provides a wide range of functions, but its functioning reminded me of legacy platforms – and it may require a modern overhaul to improve its usability. The PowerDesk trading platform is available as a web platform that works natively on any contemporary web browser, including Google Chrome, Firefox, Edge, and Safari, making it available at any time and without the need to download any extra software.
With this cutting-edge trading platform, you can access your account and trade the markets from anywhere in the globe, using any internet-connected device. To make trading easier, the platform provides a comprehensive range of critical functions on a single screen. The portal also provides a complete overview of each security, including live quotations, key figures, extensive reports, datasheets, and analyst recommendations. There are also free streaming quotations available for the UK, EU, and US markets, as well as a 5-level order book. It also has a stock screener, which assists you in finding the proper stock to trade by searching with your selected parameters.

Some of the platform’s primary features are as follows:
- Live market quotes
- Chart trading
- Real-time news
- Notifications
- Multiple order types
- 90+ technical indicators and drawing tools
- Historical data
- Several graph types
- Economic calendar
- Create a completely customised workspace by selecting the trading tools that are best suited to your needs
- Keep track of your multicurrency account
- With the One-Click Option, you can validate your PIN for the duration of your trading session as soon as you enter the platform, allowing you to maximise your order entry speed
- Dynamic and automatic ranking of all financial instruments based on country, market, and instrument type, updated in real-time
- The 10-year global government bond yields are compared in the Spread view. The spread’s value represents the difference in index points between the two bonds
- You can use the Basket Order to prepare one or more orders, save them to a List, and sort them into three panels based on trading strategies
- On the same day, the Monitor records all orders on the security that are entered, cancelled, or executed
Mobile Trading App
The broker also offers a mobile trading app version of their trading platform. The software is available for download from the appropriate app stores for many mobile devices, and it has received great ratings from users. With the Fineco App, you may trade any items on the move from anywhere as long as you have an internet connection. The trading app includes mobile streaming quotations and news, live P&L updates, and customised interactive charts.

Stock Screeners
Smart stock screeners use a simple search engine and pre-set criteria to help you locate firms that fit your trading approach across worldwide marketplaces.

FinecoBank Platforms Summary
Platform | FinecoBank |
---|---|
MetaTrader 4 (MT4) | x |
MetaTrader 5 (MT5) | x |
cTrader | x |
Proprietary (PowerDesk) | ✓ |
Desktop | ✓ |
Web | ✓ |
Mobile | ✓ |
Social Trading | x |
Other | x |
FinecoBank offers a variety of instructional and research tools to its clients to assist them in enhancing their understanding of the financial markets and general trading skills. Video lessons, online trading classes, and weekly live webinars are among the instructional materials that they now offer or plan to offer in the near future.
Their experienced analyst walk traders through market trends and patterns every week to highlight possible trade setups. The analyst exposes developing trade possibilities in each webinar by cutting through the information deluge to provide real-time technical analysis and fundamental insights into the forex markets. You can filter out the most important macroeconomic events from the economic calendar and get in-depth investor and trader training on the Fineco Advanced Platform, including real trades and follow-up.
Video Library
There is a video library that has videos about the following topics:
- Institutionals
- ISA
- Financial products
- How to trade
- Trading tips
- Trading platforms
- Asset managers
- Investing tips
- Webinars on demand
Webinars
FinecoBank holds live webinars to educate its traders. During these webinars, a couple of professional and experienced traders conduct a session of 1-2 hours where they talk about market conditions, trading strategies, and their experience. There is also a Q&A session at the end of each webinar, where clients of Finecobank can ask questions. It is always good to see a broker that provides one-on-one support to users.
Live Events
FinecoBank conducts live events to provide useful education and training to its clients.
Newsroom
This section is updated several times per day and covers major news that shapes the markets. This can be a good way to keep informed with what is happening around the global markets and also to inspire potential trading opportunities.
FinecoBank Research and Education Summary
Resources | FinecoBank |
---|---|
Market Analysis | x |
Guides | ✓ |
Videos | ✓ |
Webinars | ✓ |
Autochartist | x |
Trading Central | x |
Economic Calendar | ✓ |
Other | x |
FinecoBank lags in terms of funding methods. The broker only accepts deposits conducted with wire transfers. On the other hand, the bank offers withdrawals via wire transfers and the debit cards provided by the bank itself. Debit cards can be used to withdraw cash from an ATM or use for online banking or shopping. If you are looking to fund your account using card payments and e-wallets, you might want to consider having a look at Trading 212 as they have plenty of funding options.
FinecoBank Funding Summary
Payment Method | Deposit | Withdrawal |
---|---|---|
Wire Transfer | ✓ | ✓ |
Credit/debit Card | x | ✓ |
Electronic Wallets | x | x |
Cryptos | x | x |
FinecoBank is a brand name licenced for FinecoBank S.p.A., a company approved by the Bank of Italy and subject to limited regulation by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The Central Bank of Ireland regulates Fineco Asset Management D.A.C, the company’s asset management arm.
In addition, FinecoBank is listed on Stoxx Europe 600. The bank is also regulated by the Bank of Italy and Consob. Fineco Asset Management is a subsidiary of FinecoBank and is regulated by the Central bank of Ireland.
FinecoBank Regulation Summary
Regulator | FinecoBank |
---|---|
ASIC (Australia) | x |
IIROC (Canada) | x |
CySEC (Cyprus) | x |
SFC (Hong Kong) | x |
JFSA (Japan) | x |
MAS (Singapore) | x |
FINMA (Switzerland) | x |
FCA (UK) | ✓ |
CFTC (USA) | x |
Other (CONSOB, PRA) | ✓ |
FinecoBank Safety
FinecoBank is a participant in the National Compensation Fund as well as the National Interbank Deposit Guarantee Fund. The bank is a component of the Stoxx Europe 600, a large-cap European company index.
FinecoBank serves clients from Italy and the United Kingdom, as well as merchants from other European Union member countries. The broker also accepts traders from all around the world, as long as the trader’s home country authorises online trading with an international brokerage business. FinecoBank does not accept customers from the United States.
FinecoBank provides client support over email, phone and online chat during working hours on weekdays (24/5). I think they could improve by extending support hours to weekend in order to keep up with competitors such as Plus500.
FinecoBank is an all-in-one financial services provider that provides banking, online brokerage, and asset management services. The broker provides you with a powerful web trading platform and mobile app for their online trading services, as well as reasonable spreads and commissions. FinecoBank, on the other hand, has restricted account financing choices, charges platform fees, and does not provide trading using the industry-standard MetaTrader platforms. In addition, FinecoBank does not support crypto trading and funding. If you can see past these limitations, I think they are an excellent broker for anyone looking to trade and invest in a huge selection of financial instruments within a regulated environment.