Fineco Bank is a well-regulated online broker founded in 1999 in Italy. The broker offers a comprehensive range of financial products and services, including forex, CFDs, stocks, bonds, and more. Fineco’s trading platforms are user-friendly, reliable, and feature-rich, with advanced charting tools, customizable layouts, and a range of order types.
One of Fineco’s key selling points is its competitive fee structure, with low trading fees and no hidden charges. The broker also offers a range of educational resources and research tools to help traders make informed trading decisions.
Trading Instruments
Fineco Bank offers a comprehensive range of trading instruments, including forex, CFDs, stocks, bonds, futures, options, ETFs, and more. Here’s a breakdown of the trading instruments available:
- Fineco Bank offers forex trading with over 50 currency pairs, including major, minor, and exotic currency pairs.
- CFD trading on a wide range of underlying assets, including indices, commodities, bonds, and interest rates.
- Fineco Bank offers trading on stocks from over 20 global exchanges, including the NYSE, NASDAQ, London Stock Exchange, and more.
- Fineco Bank offers trading on a range of government and corporate bonds from around the world.
- Futures and options trading on a range of underlying assets, including commodities, indices, and currencies.
- Trading on a wide range of ETFs, including equity, fixed income, commodity, and currency ETFs.
Trading Conditions
Fineco Bank offers competitive trading conditions with low fees and commissions, making it an attractive option for traders. Here are some key trading conditions offered by Fineco:
- Fineco offers competitive spreads on forex and CFD trading, starting from as low as 0.8 pips on forex pairs.
- Fineco charges low commissions on equity trades, with rates starting from 2.95 EUR per order. The broker also offers commission-free trading on some ETFs.
- Fineco offers leverage of up to 30:1 on forex trading and up to 5:1 on CFD trading, which can amplify potential profits but also increase the risk of losses.
- Minimum deposit: is 100 EUR/GBP to open a trading account.
- Fineco offers a range of advanced trading platforms with customizable layouts, advanced charting tools, and a range of order types, including market, limit, stop-loss, and trailing stop orders.
- Fineco offers a range of educational resources and research tools to help traders make informed trading decisions. These include daily market analysis, research reports, and trading webinars.
Fineco Bank Account Types
Fineco Bank offers a range of account types to cater to the needs of different types of traders. Here are the main account types offered by Fineco:
- Fineco Trading Account: This is the standard account type offered by Fineco Bank. It is designed for traders who want access to a wide range of financial instruments, including forex, stocks, ETFs, and CFDs. The minimum deposit required to open a Fineco Trading Account is 100 EUR/GBP.
- Fineco Junior Account: This is a special account designed for young investors aged 18 to 26. The account offers free trading on stocks, ETFs, and bonds, with no custody or management fees. The minimum deposit required to open a Fineco Junior Account is 100 EUR/GBP.
- Fineco Pro Account: This is an advanced account type designed for professional traders who require higher trading limits and access to more advanced trading tools. The Fineco Pro Account offers lower spreads, higher leverage, and priority customer support. The minimum deposit required to open a Fineco Pro Account is 100,000 EUR/GBP.
- Fineco Joint Account: This is a shared account designed for couples or family members who want to trade together. The Fineco Joint Account allows up to four account holders to trade from a single account. The minimum deposit required to open a Fineco Joint Account is 100 EUR/GBP.
- Fineco Corporate Account: This is an account designed for businesses and corporations. The account offers access to a range of financial instruments, including stocks, bonds, and CFDs. The minimum deposit required to open a Fineco Corporate Account is 100,000 EUR/GBP.
All Fineco Bank accounts offer access to the same trading platforms and tools, including the Fineco App, Web Trading, and the Fineco Multi-Currency Account. Customers can also access a range of educational resources and research tools, including market analysis, research reports, and trading webinars, regardless of their account type.
Regulation and Security
Fineco Bank is a regulated financial institution that operates under the supervision of multiple regulatory authorities. The bank is authorized and regulated by the Bank of Italy, which is the primary regulator of Italian banks. In addition, Fineco Bank is regulated by the UK Financial Conduct Authority (FCA) and the European Central Bank (ECB).
Fineco Bank has a strong focus on security and implements various measures to protect its customers’ accounts and data. The bank uses advanced encryption technology to secure all transactions and communications, and it regularly monitors its systems to detect and prevent unauthorized access. Fineco Bank also offers two-factor authentication to provide an extra layer of security for its customers.
Fineco Bank is a member of the National Guarantee Fund and the Interbank Deposit Protection Fund, which provides additional protection for its customers’ deposits. The bank also has an insurance policy that covers its customers for up to 1 million euros in case of financial losses resulting from unauthorized activity on their accounts.
Overall, Fineco Bank has a solid reputation for safety and security, and its regulatory status and protective measures make it a reliable option for traders and investors looking for a secure platform to manage their finances.
Conclusion on Fineco Bank
Fineco Bank is a versatile online brokerage platform that offers a wide range of trading instruments and account types to suit the needs of traders and investors of all levels. With its competitive trading conditions, advanced trading tools, and excellent customer support, Fineco Bank is a strong contender for anyone looking for a reliable and efficient trading platform.
The bank’s regulatory status and strong focus on security provide customers with peace of mind, and the bank’s multiple layers of protection help safeguard customer accounts and funds. Overall, Fineco Bank is a well-rounded platform that offers a comprehensive trading experience and is worth considering for anyone looking for a reliable online broker.
Very reliable and useful multicurrency account especially for customer which leave in a different countries with needs to have a EUR bank account with an IBAN
The bank is useless for day to day banking e.g., making a simple sterling transfer from Fineco sterling account to another sterling account in the UK takes at least two days and vis-a-vis, but it doesn’t stop there!
In terms of trading account, it does not provide full invoice until trade settlement date. If you receive dividends, it might take up to 15 working days to be credited to your account. I have no such experience with other UK Banks.
As always, very professional and knowledgeable Customer Services operative who delivered accurate information succinctly. Consistently and unfailingly impressed by the calibre of staff that I deal with at Fineco that take great pride and satisfaction at delivering a top service.