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CMC Markets vs Fineco Bank 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between CMC Markets and Fineco Bank? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, CMC Markets ranks more highly than Fineco Bank.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingCMC MarketsFineco BankXTB
Overall Rating9.4 / 107.7 / 108.7 / 10
Account TypeCMC MarketsFineco BankXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesNoYes
Islamic AccountNoYesYes
Copy TradingCMC MarketsFineco BankXTB
Social Trading / Copy TradingYesNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyCMC MarketsFineco BankXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesNoYes
BitcoinYesNoYes
ethereumYesNoYes
Forex Trading (Spot or CFDs)CMC MarketsFineco BankXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)CMC MarketsFineco BankXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsCMC MarketsFineco BankXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFYesYesNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsCMC MarketsFineco BankXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)NoNoNo
Regulatory LicensesCMC MarketsFineco BankXTB
Tier-1 Licenses511
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)YesNoNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses103
Tier-3 Licenses001
Research, EducationCMC MarketsFineco BankXTB
Trading Central (Recognia)YesNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesNoYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsCMC MarketsFineco BankXTB
Minimum Initial Deposit$0$0$0
Average Spread EUR/USD - Standard0.51 (August 2022)N/A1.07 (Q3 2022)
All-in Cost EUR/USD - Active0.51 (August 2022)N/A1.04 (Q3 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesNoYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsCMC MarketsFineco BankXTB
Watchlists - Total Fields98
Mobile WatchlistYesNoYes
Charting - Indicators / Studies (Total)849039
Mobile Charting - Indicators / Studies29N/A39
Trust FactorsCMC MarketsFineco BankXTB
Year Founded198919992002
Publicly Traded (Listed)YesYesYes
BankNoYesNo
Authorised in European UnionYesYesYes
Trust Score999295
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CMC Markets vs Fineco Bank Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs Fineco Bank.

Can I trust CMC Markets?

CMC Markets has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust Fineco Bank?

Fineco Bank has a trust score of 92, giving it a "Highly Trusted" trust label.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker that features excellent pricing and a huge selection of markets on its powerful Next Generation proprietary trading platform (available for web and mobile), alongside high-quality research and educational materials.

Is Fineco Bank a good broker?

FinecoBank is a trusted brand catering to forex and CFD traders, and listed on the Italian Stock Exchange. Operating out of the U.K. and Italy, traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents โ€“ at an actual Fineco branch office).

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. CMC Markets is ASIC Authorised (Australia), IIROC Authorised (Canada), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FCA Authorised (U.K.), while Fineco Bank is FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, CMC Markets is DFSA / Central Bank Authorised (UAE), while Fineco Bank is none., neither have CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses unfortunately, neither CMC Markets nor Fineco Bank are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both CMC Markets and Fineco Bank offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does CMC Markets offer MetaTrader? Does Fineco Bank offer MetaTrader?

For MetaTrader CMC Markets provides MetaTrader 4 (MT4), while Fineco Bank provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers., neither have MetaTrader 5 (MT5)

How do CMC Markets and Fineco Bank differ in terms of minimum deposit? What about average spreads and funding options?

CMC Markets requires a minimum deposit of $0, while Fineco Bank requires a minimum deposit of $0. From our testing we found CMC Markets offers spreads of 0.51 (August 2022), while Fineco Bank offers spreads of N/A. CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where Fineco Bank supports Bank Wire (Deposit/Withdraw)., neither have Skrill (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, CMC Markets or Fineco Bank?

CMC Markets offers a more diverse selection of investment options than Fineco Bank allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, CMC Markets has 12377, compared to 126 from Fineco Bank.

Can I trade cryptocurrency with CMC Markets or Fineco Bank?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor Fineco Bank allow you to trade physical cryptocurrencies.

Who offers more research tools, CMC Markets or Fineco Bank?

In terms of research and research tools CMC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Fineco Bank has the tools listed here: Stock Charts and Forex News (Top-Tier Sources).

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