📈 Popular:

Broker of the month

Top 27 Regulated Forex Brokers

Forex No Deposit Bonuses

Promotions

⚡ Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

Best Brokers

1st Place

2nd Place

3rd Place

4th Place

5th Place

Fineco Bank Account Types

Fineco Bank Account Types

 

Overall Rating

4.6/5

Rated #512 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

CRR

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Fineco Bank provides one account type. Multi-currency Trading Account. Each currency type has its own set of conditions for commission, margin call, and leverage, and minimum deposits. (get the correct answer in the content).

Finding a reputable list about Fineco Bank account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

Overview

Fineco offers banking, brokerage, and investment services to retail clients from the convenience of a single multicurrency account.

Efficiency, innovation, and transparency helped Fineco become one of the highest-rated banks in Europe, with more than 1.3 million customers. Since launching in 1999, Fineco’s mission has been to enhance the experience of online banking.

The company’s business model allows it to offer a range of financial services designed to meet its clients’ banking and investment needs, which they can access from an innovative and user-friendly platform.

The pricing is competitive and includes commission-free trades on share CFDs and no additional charges on stock prices. Equally impressive is the quality of trade flow. Fineco offers free streaming quotes for UK, EU, and US markets with level-5 order books.

This unique approach has helped distinguish the broker from its competitors and become one of the world’s most recommended banks.

Fineco is one of Europe’s most popular online trading platforms due to its robust order execution and constant innovation. The broker’s clients can access a wide range of asset classes including stocks, bonds, ETFs, futures, options, CFDs, and structured products.

The strength of the broker’s order execution services and its ongoing product and service innovation set Fineco apart from its competitors and constitute a distinctive aspect of the broker’s product offering.

 

Account Types

The same multi-currency trading account is available for all Fineco clients. The account supports 24 currencies, free of account fees, displays real-time Forex exchange rates for proper portfolio management across numerous global markets.

Added to this, currency conversion costs are non-existent due to the broker’s wide range of accepted deposit currencies.

The broker does not engage in the upselling of superior services for more massive deposits. All portfolios receive equal treatment, adding to the superior trading environment at Fineco Bank. Clients will be able to trade globally, from their local account in a low-cost environment.

 

Account Features

The multi-currency account from Fineco Bank comes with the following features:

  • Live prices
  • Intuitive chart trading
  • +6,000 real-time news per day
  • Push notifications
  • Automatic orders
  • Personalized dashboards
  • Technical analyses & historical reports
  • Personalized listings
  • Multi-charts
  • Economic calendar
  • A complete overview of every security, with live quotes, main figures, detailed reports, data sheets, and analyst’s recommendations.
  • Free streaming quotes for UK, EU, and US markets with 5- levels order book.
  • Professional charting system with customizable timeframes and over 90 technical indicators and data export, free of charge.

 

Overall Rating

4.6/5

Rated #512 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

CRR

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Demo Account

Opening a demo account with Fineco Bank consists of the following steps:

  • Navigate to the Fineco demo account registration page.
  • Registering for a demo account at Fineco follows the same process as setting up a live account. As such, you will need to provide your account details and personal information
  • Your contact details and account verification checklists all build your profile and are part of the broker’s requirement to comply with ‘Know Your Client’ rules.
  • One of the questions asks you to confirm your main country of residence. This information is then used to determine which regulatory body you will be protected by.
  • The final stage of the process involves confirming invitations that are sent to your phone by SMS and to your email account. Once these checks have been completed, you are taken through to the main site.

 

The Fineco demo account uses the same setup as the live account. Its PowerDesk platform is a proprietary system that provides an advanced trading environment.

As such, the platform is institution-grade and packed full of powerful trading tools, but also has smooth functionality designed to help beginners.

On the demo account, there are more than 26,000 markets available to trade and a market-leading range of asset types. Each market can be analyzed using an impressively substantial number of 90 trading indicators.

 

Islamic Account

Unfortunately, Fineco Bank does not offer an Islamic account for Muslim traders. This is a serious drawback, as such an account has several key features, which are outlined in detail below:

The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

 

Pros and Cons

✔️ PROS ❌ CONS
No minimum deposit No Islamic Account available
Advanced trading environment
Competitive price structure
Tight spreads
Well-regulated broker

 

You might also like: Fineco Bank Sign Up Bonus

You might also like: Fineco Bank Demo Account

You might also like: Fineco Bank Fees and Spreads

You might also like: Fineco Bank Account Types

 

Fineco Bank at a Glance

Broker’s Name Fineco Bank
Headquartered Reggio Emilia, Italy
Year Founded 1999
Regulating Authorities FCA
Countries not accepted for trade Australia, Canada, China, Germany, Hong Kong, India, Japan, Malaysia, Netherlands, Singapore, United Arab Emirates, United States
Islamic Account (Swap Free) No
Demo Account Yes
Institutional Accounts Yes
Managed Accounts Yes
Maximum Leverage 1:100 for professionals
Minimum Deposit No minimum deposit
Deposit Options Wire transfer, card payment

 

Withdrawal Options Wire transfer, card payment

 

Platform Types PowerDesk
OS Compatibility Windows, Mobile, Web, iPhone, iPad

PC and Mac OS, mobile for Android and IOS

Tradable Assets Forex, Indices and Commodities
Languages supported on Website English, Italian
Customer Support Languages English, Italian
Customer Service Hours 24/5

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with Fineco Bank?

Fineco Bank offers an excellent choice across the global financial spectrum, exceeding 20,000 assets.

This includes over 7,850 equities and 6,000 bonds, accounting for most assets. Over 50 currency pairs, and a deep selection of indices, commodities, bonds, ETFs, and mutual funds, complete the selection.

 

Which platforms are supported by Fineco Bank?

PowerDesk.

 

Does Fineco Bank offer leverage?

Yes, as an FCA-regulated broker Fineco Bank offers maximum leverage of 1:30 to its retail trading clients. Professional clients can apply for maximum leverage of 1:100.

 

What spreads can I expect with Fineco Bank?

Overall, the broker provides a competitive price structure. Index CFDs carry a minimum cost of 0.4 pips.

 

Does Fineco Bank charge commission?

Yes, the broker does charge commissions on certain products. For example, direct share dealing, and ETF trading comes at a fixed price of just £2.95 per deal ticket in the UK and $/€3.95 for US/EU markets.

Futures trading is just as competitive, where the commission starts at $0.70, while options pricing is as low as $2.50.

 

Are there additional charges on the Islamic account?

Fineco Bank does not offer an Islamic Account.

 

Is Fineco Bank regulated?

Yes, Fineco Bank is regulated by the Financial Conduct Authority (FCA).

 

Is Fineco Bank a recommended forex trading broker for experts and beginners?

Yes, Fineco Bank is a good option for beginner and advanced traders due to its lack of a minimum deposit requirement coupled with advanced trading features.

 

What is the overall rating out of 10 for Fineco Bank?

8/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does Fineco Bank offer a demo account?

Yes.

 

For how long is the demo account valid?

The demo account from Fineco Bank is available for an unlimited period. However, the account may expire after a period of inactivity, so that it is worth confirming this with the broker’s customer support team.

 

Does Fineco Bank offer the option of an Islamic Account?

No.

 

Which live trading accounts does Fineco Bank offer?

The same multi-currency trading account is available for all clients.

 

What are the available deposit currencies for a live trading account?

Fineco Bank accepts most global currencies with few exceptions. These include currencies such as ZAR (Rand).

 

Deposits and Withdrawals

 

What is the minimum deposit for Fineco Bank?

Fineco Bank does not have a minimum deposit requirement. This makes the broker an affordable choice for many beginner traders.

 

How do I make a deposit and withdrawal from Fineco Bank?

Fineco Bank does not provide much information regarding the available deposit and withdrawal methods, though being a bank, it is obvious that wire transfers will be accepted, as well as debit and credit cards.

Fineco does also issues debit cards, which can be used to manage finances. However, apart from these more traditional funding methods, the broker does not appear to accept e-payment options.

 

Does Fineco Bank charge withdrawal fees?

The broker does not provide information regarding withdrawal fees.

 

How long does it take to make a withdrawal?

Processing times may vary depending on the payment method; details of these can be provided by the customer support team.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

You might also like

IEXS Minimum Deposit

IEXS has a minimum deposit requirement of only $ 200. This minimum deposit amount is equivalent to ZAR 3,533.16 at the current exchange rate between

FXOpen Fees and Spreads

  FXOpen fees, spread, and commissions start from US Dollar 1.5 with spreads from 0.0 pips. FXOpen has a low and incredibly competitive spread when

Best Forex Trading Apps for Android

Forex trading apps make it easy to trade currencies on the go using a mobile device. In today’s globally interdependent economy, knowledge of the foreign