Fineco is an Italian-based broker with a wide range of trading assets, including forex, stocks, ETFs, futures, CFDs, and more. It is also a banking institution and listed on the Italian stock exchange (Borsa Italiana).
- Multi-currency trading accounts offered
- Zero commission for CFD trading
- Excellent selection of assets to choose from
- No transaction nor inactivity charges
- A banking background, proving its credibility even more
- Spreads are higher than the market average
- No commodity and cryptocurrency trading
- Customer service operates during weekdays only
In addition, various world-renowned authorities are monitoring its services, including the Bank of Italy (Banca d’Italia), The Financial Conduct Authority (FCA), the Commodities Futures Trading Commission (CFTC), and more. So, read along to know if it’s the right one for you.
Fineco – Who Are They?
Fineco is an Italian brokerage firm with a banking background. This means that you can apply for the broker’s debit card and use it to transact on your trading account. Established in 1999, the broker has grown to gain global recognition, thereby attracting millions of investors and banking customers. Moreover, Fineco is a member of the European Union, meaning it also adheres to ESMA regulations. Undoubtedly, this broker is safe for your investments.
Fineco is dedicated to offering the best experience to traders globally. This has led it to win multiple awards over the years. It also hosts user-friendly web and Powerdesk platforms, which have mobile versions to keep you on top of your activities wherever you may be. Unfortunately, there are no advanced third-party platforms like MT4 and MT5.
This broker has low trading charges, more so when trading CFDs. In addition, there is no minimum deposit requirement nor transaction charges and inactivity fees. When it comes to Fineco’s customer service, they operate only during weekdays. However, they are very responsive via email, phone, and live chat and provide relevant solutions to keep you engaged for a long time.
Compare Fineco With Other Brokers
Our Opinion About Fineco
Although Fineco has plenty of trading assets, we still feel like more can be done to improve its performance. For instance, the lack of the MetaTrader platforms may keep away the professional traders. It is also challenging to navigate through its menu structure.
We really like that this broker also offers banking services. As a result, traders can easily transact and manage their accounts using their debit cards at no cost. Also, its lack of a minimum deposit requirement is impressive, allowing even the low budget traders to explore various markets offered.
Fineco is safe to trade with, and this is shown from its banking background, ability to adhere to financial authorities regulations, and being listed in the Italian stock exchange. Its user-friendly platform and adequate educational tools are best for newbies trying to familiarise themselves with various assets. So, start today by opening a demo account to maximise your potential.
I used Fineco on the Fineco Mobile App. It’s pretty good. It allows multiple ways to analyze past data and has automated trailing stops and stop levels. Not totally out of the ordinary, but it surely has an advanced interface.