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FP Markets vs Fineco Bank 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FP 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, FP 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 RatingFP MarketsFineco BankIG
Overall Rating8.3 / 107.7 / 109.7 / 10
Account TypeFP MarketsFineco BankIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesNoYes
Islamic AccountYesYesNo
Copy TradingFP MarketsFineco BankIG
Social Trading / Copy TradingYesNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyFP MarketsFineco BankIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesNoYes
BitcoinYesNoYes
ethereumYesNoYes
Forex Trading (Spot or CFDs)FP MarketsFineco BankIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FP MarketsFineco BankIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFP MarketsFineco BankIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingYesNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFNoYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFP MarketsFineco BankIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)YesNoNo
Regulatory LicensesFP MarketsFineco BankIG
Tier-1 Licenses117
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
CFTC Registered (USA)NoNoYes
Tier-2 Licenses202
Tier-3 Licenses001
Research, EducationFP MarketsFineco BankIG
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesNoYes
AutochartistYesNoYes
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsFP MarketsFineco BankIG
Minimum Initial Deposit$100 AUD$0ยฃ250.00
Average Spread EUR/USD - Standard1.2 (August 2022)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active0.7 (August 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesNoYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsFP MarketsFineco BankIG
Watchlists - Total Fields714
Mobile WatchlistYesNoYes
Charting - Indicators / Studies (Total)309033
Mobile Charting - Indicators / StudiesMetaTrader (Default)N/A33
Trust FactorsFP MarketsFineco BankIG
Year Founded200519991974
Publicly Traded (Listed)NoYesYes
BankNoYesYes
Authorised in European UnionYesYesYes
Trust Score869299
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FP 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 FP Markets vs Fineco Bank.

Can I trust FP Markets?

FP Markets has a trust score of 86, giving it a "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 FP Markets a good broker?

FP Markets features excellent pricing, thanks to its highly competitive spreads for forex and CFD trading on MT4. That being said, FP Markets' pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve.

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. FP Markets is ASIC Authorised (Australia), while Fineco Bank is FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), 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, FP Markets is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa), while Fineco Bank is none., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither FP 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 FP Markets and Fineco Bank offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does FP Markets offer MetaTrader? Does Fineco Bank offer MetaTrader?

For MetaTrader FP Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), 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.

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

FP Markets requires a minimum deposit of $100 AUD, while Fineco Bank requires a minimum deposit of $0. From our testing we found FP Markets offers spreads of 1.2 (August 2022), while Fineco Bank offers spreads of N/A. FP Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Fineco Bank supports Bank Wire (Deposit/Withdraw).

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

FP Markets offers a more diverse selection of investment options than Fineco Bank allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FP Markets has 9956, compared to 126 from Fineco Bank.

Can I trade cryptocurrency with FP 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 FP Markets nor Fineco Bank allow you to trade physical cryptocurrencies.

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

In terms of research and research tools FP Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison Fineco Bank has the tools listed here: Stock Charts and Forex News (Top-Tier Sources)., neither have Trading Central (Recognia)

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