You can also set up direct debits and manage your cards/payments via the app. The Fineco Bank app excels in portfolio management, offering live Profit and Loss (P&L) updates and account monitoring. The ‘portfolio’ section of the app shows you the summary of your investments which are grouped according to asset classes.
- I think that the built-in tools should be more than enough for most traders and certainly meet my needs.
- Alternatively, if you use the Fineco Bank mobile app, you can withdraw money electronically at any time.
- The broker provides competitive spreads and commissions for trading with its Live account, which has no minimum deposit requirement and offers both trading and investment products.
- Clients can trade funds at 0.25% of the max annual platform fee, providing a straightforward approach to trading.
Non-clients have to, while existing clients may communicate via live chat. An FAQ section is missing, and the overall approach to customer support is rather minimal but sufficient. Forex trading on FinecoBank is competitive as there are 70+ pairs offered from different markets.
Step 1: Open an Account
Here, we’ll walk you through the steps needed to create a Fineco Bank trading account. Of course, the Powerdesk interface is fully integrated with your Fineco Bank trading account. You can place orders directly from your charts, and Powerdesk’s interface gives you more flexibility in specifying your trades than you have when using the standard Fineco Bank order form. For example, Powerdesk’s ordering module lets traders specify stop-loss and take-profit levels, as well as to create trailing stops. However, Fineco Bank still requires much larger margin balances than the regulator demands. Forex traders must keep 3.5% of their positions as cash in their accounts, while gold and index traders must keep 5%.
Fees and Commissions
I would like to see them add some digital wallet payment options but I understand that they may not want to as they are also a bank themselves, so there could be some conflict of interest there. Nevertheless, if you are happy with wire transfers and card payment, you can’t really go wrong. To open a brokerage account with Fineco Bank, simply navigate to the brokerage website and click ‘Open an Account’. You’ll then be prompted to enter your personal information, including your name, address, birth date, and contact information. You’ll also be asked about why you are opening an account so that Fineco Bank can better tailor the platform to meet your needs. Fineco Bank offers customer support via phone from 8am to 9pm Central European Time, Monday to Friday.
Support
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. FinecoBank offers a proprietary mobile app for Android and iOS devices. The online account application is only available to residents of the U.K.
Book now, pay at the property
All that said, Fineco Bank doesn’t work seamlessly with many online payment systems, such as e-wallets, which means that it won’t suit all traders. Like most banks, you can contact Fineco via email, Phone and live chat. However, the phone support service is only available from Monday to Friday, 8 am to 9 pm. The email support service typically responds in less than 24 hours while the phone specialists tend to be more prompt. Yet, some users experienced app stability issues like occasional crashes and freezing. Customers can access options trading with commission rates as low as $1.95 (£1.53) per lot on S&P, Nasdaq, D.J. Russell, VIX Indices, and US Stock Options.
However, some clients faced delays in updating real-time stock prices, impacting time-sensitive trades. Fineco Bank’s app garnered positive reviews on Trustpilot, praised for its user-friendly interface and comprehensive investing features. Users found their accounts are easy to manage and it’s even easy to execute trades with its intuitive navigation.
- This makes FinecoBank one of the worst when it comes to transparency about assets offered and customer support.
- Use our country selector tool to view available brokers in your country.
- While Fineco Bank does charge trade commissions for some popular assets, it’s notable that the platform doesn’t charge any platform fees.
- You can develop up to eight custom watchlists that are automatically populated based on your own scans.
While Fineco Bank hasn’t gone completely commission-free yet like some other online brokers, the fees it charges are largely competitive. The bigger issue that traders may face with this platform is its margin requirements for leveraged trading. Fineco Bank is very conservative in this respect, which can make it more difficult for traders with small balances to establish large or diverse portfolios.
Fineco Bank Review 2025
It lets users trade more than 20,000 financial assets with transparent conditions across 26 global stock exchanges, all from one multi-currency Fineco account. It’s extremely simple to buy or sell, with instant confirmations to keep you in the loop. Fineco Bank offers an extremely cost-friendly trading environment and an excellent asset selection from a state-of-art trading platform. Therefore, it remains one of the primary choices in the online brokerage category, with an additional benefit as a sound banking choice.
Global Prime Review
The bank’s impressive market reach, regulatory oversight, and established client base lend credibility to its legitimacy and safety. While it boasts competitive features and low non-trading fees, some drawbacks include high commissions on certain assets and the lack of support for cryptocurrencies and fractional shares. Fineco Bank offers a wide range of investment products, including forex, stocks, shares, commodities, and indices, making it an attractive choice for traders. The platform’s extensive catalogue of assets and access to derivatives like futures and options contracts provide investors with flexibility. Initially established in Italy, Fineco Bank has been delivering financial services since 1999 when it launched its Fineco Online service aimed at retail traders.
Fineco Bank doesn’t require any minimum deposit, so you don’t necessarily need to fund your account right away. That said, you will need to make a deposit before you can start trading. The financial regulators that govern Fineco Bank require that you verify your identity when creating a new account. To do this, you’ll need to upload a proof of identity in the form of a passport, driver’s licence, or national ID card. Second, you’ll need to upload a tax document or another financial statement from within the past three months in order to verify your listed address.
With the Fineco fineco bank review bank account, you can make bank transfers, convert currency with favourable exchange rates and much more. With reference to the US markets, the NYSE, Nasdaq, Amex, OTC US (only for sale after transferring in OTC US shares without Fineco commissions) and CME are available. It is possible also to transfer funds to a bank account but this is upon request. Fineco provides a Debit Card with no annual fees for the first card, and the second £9.95. Free withdrawals in the UK with the GBP and free withdrawal in the Eurozone for the EUR card. Fineco provides multi-currency choices in the “Account Management” section.