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Fineco Bank vs Trade Nation 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Fineco Bank and Trade Nation? 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, Fineco Bank ranks more highly than Trade Nation.

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 RatingFineco BankTrade NationIG
Overall Rating7.7 / 107.1 / 109.7 / 10
Account TypeFineco BankTrade NationIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)NoYesYes
Islamic AccountYesNoNo
Copy TradingFineco BankTrade NationIG
Social Trading / Copy TradingNoNoYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyFineco BankTrade NationIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoNoYes
BitcoinNoNoYes
ethereumNoNoYes
Forex Trading (Spot or CFDs)Fineco BankTrade NationIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Fineco BankTrade NationIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFineco BankTrade NationIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoYesYes
Social Trading / Copy TradingNoNoYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFYesNoYes
U.S. Stocks (CFD)YesNoYes
Trading PlatformsFineco BankTrade NationIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoNoNo
Regulatory LicensesFineco BankTrade NationIG
Tier-1 Licenses127
ASIC Authorised (Australia)NoYesYes
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoYes
FINMA Authorised (Switzerland)NoNoYes
CFTC Registered (USA)NoNoYes
Tier-2 Licenses012
Tier-3 Licenses011
Research, EducationFineco BankTrade NationIG
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoNoYes
AutochartistNoNoYes
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesNoYes
Trading CostsFineco BankTrade NationIG
Minimum Initial Deposit$0$0ยฃ250.00
Average Spread EUR/USD - StandardN/A0.60.86 (September 2022)
All-in Cost EUR/USD - ActiveN/A0.60.5957 (September 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)NoYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsFineco BankTrade NationIG
Watchlists - Total Fields1214
Mobile WatchlistNoYesYes
Charting - Indicators / Studies (Total)903533
Mobile Charting - Indicators / StudiesN/A9533
Trust FactorsFineco BankTrade NationIG
Year Founded199920141974
Publicly Traded (Listed)YesNoYes
BankYesNoYes
Authorised in European UnionYesNoYes
Trust Score928399
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Fineco Bank vs Trade Nation 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 Fineco Bank vs Trade Nation.

Can I trust Fineco Bank?

Fineco Bank has a trust score of 92, 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 Trade Nation?

Trade Nation has a trust score of 83, giving it a "Trusted" trust label.

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).

Is Trade Nation a good broker?

Trade Nation offers an innovative platform suite that is optimized for ease-of-use, and great for beginners. That being said, the lack of advanced trading features may leave experienced traders wanting more.

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. Fineco Bank is FCA Authorised (U.K.), while Trade Nation is ASIC Authorised (Australia) and 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, Fineco Bank is none, while Trade Nation is FSCA Authorised (South Africa)., neither have CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses Fineco Bank is none, while Trade Nation is SCB Authorised (Bahamas)., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does Fineco Bank offer MetaTrader? Does Trade Nation offer MetaTrader?

For MetaTrader Fineco Bank provides neither of these, while Trade Nation provides MetaTrader 4 (MT4). 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 Fineco Bank and Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?

Fineco Bank requires a minimum deposit of $0, while Trade Nation requires a minimum deposit of $0. From our testing we found Fineco Bank offers spreads of N/A, while Trade Nation offers spreads of 0.6. Fineco Bank supports Bank Wire (Deposit/Withdraw) for popular funding options, where Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

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

Fineco Bank offers a more diverse selection of investment options than Trade Nation allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Social Trading / Copy Trading and Agriculturals Looking at total tradeable symbols, Fineco Bank has 126, compared to 601 from Trade Nation.

Can I trade cryptocurrency with Fineco Bank or Trade Nation?

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 Fineco Bank nor Trade Nation allow you to trade physical cryptocurrencies.

Who offers more research tools, Fineco Bank or Trade Nation?

Both Fineco Bank and Trade Nation offer a complete suite of research, providing traders with these tools: Stock Charts and Forex News (Top-Tier Sources)., neither have Autochartist, Daily Market Commentary, Trading Central (Recognia) and Social Trading / Copy Trading

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