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FXCM vs Fineco Bank 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FXCM 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, FXCM 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 RatingFXCMFineco BankFOREX.com
Overall Rating8.3 / 107.7 / 108.7 / 10
Account TypeFXCMFineco BankFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesNoYes
Islamic AccountNoYesYes
Copy TradingFXCMFineco BankFOREX.com
Social Trading / Copy TradingYesNoNo
DupliTradeNoNoNo
ZuluTradeYesNoNo
CryptocurrencyFXCMFineco BankFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesNoYes
BitcoinYesNoYes
ethereumYesNoYes
Forex Trading (Spot or CFDs)FXCMFineco BankFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FXCMFineco BankFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFXCMFineco BankFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesNoNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFXCMFineco BankFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesNoYes
MetaTrader 5 (MT5)NoNoYes
Regulatory LicensesFXCMFineco BankFOREX.com
Tier-1 Licenses314
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)YesNoYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses302
Tier-3 Licenses001
Research, EducationFXCMFineco BankFOREX.com
Trading Central (Recognia)YesNoYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesNoYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsFXCMFineco BankFOREX.com
Minimum Initial DepositStarts from $50$0$100
Average Spread EUR/USD - Standard1.38 (Q2 2022)N/A1.0 (July 2022)
All-in Cost EUR/USD - Active1.38 (Q2 2022)N/A1.0 (July 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesNoYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsFXCMFineco BankFOREX.com
Watchlists - Total Fields1220
Mobile WatchlistYesNoYes
Charting - Indicators / Studies (Total)5790203
Mobile Charting - Indicators / Studies59N/A88
Trust FactorsFXCMFineco BankFOREX.com
Year Founded199919991999
Publicly Traded (Listed)YesYesYes
BankNoYesNo
Authorised in European UnionYesYesYes
Trust Score969299
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FXCM 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 FXCM vs Fineco Bank.

Can I trust FXCM?

FXCM has a trust score of 96, 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 FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

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. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) 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), 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, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), while Fineco Bank is none., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither FXCM 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?

For trading platforms FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas Fineco Bank supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader and DupliTrade

Does FXCM offer MetaTrader? Does Fineco Bank offer MetaTrader?

For MetaTrader FXCM 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 FXCM and Fineco Bank differ in terms of minimum deposit? What about average spreads and funding options?

FXCM requires a minimum deposit of Starts from $50, while Fineco Bank requires a minimum deposit of $0. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while Fineco Bank offers spreads of N/A. FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where Fineco Bank supports Bank Wire (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

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

FXCM 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 and U.S. Stocks (CFD)., neither have Agriculturals Looking at total tradeable symbols, FXCM has 441, compared to 126 from Fineco Bank.

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

Who offers more research tools, FXCM or Fineco Bank?

In terms of research and research tools FXCM 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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