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Fineco Bank Fees and Spreads

Fineco Bank Fees and Spreads

 

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 spread and commission fees start from US Dollar 0.70 with spreads from 0.4 pips. FoneCo Bank doesn’t document any account fees, deposits, and withdrawal fees. FineCo Bank also does not charge an inactive fee.

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

Below are an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

 

The Fineco Bank spread list is as follows:

  • Overall, the broker provides a competitive price structure. Traders have access to commission-free equity CFD trading, without a mark-up on spreads, on UK, EU, and US names.
  • Index CFDs carry a minimum cost of 0.4 pips. 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.
  • Bonds also come with a fixed cost of £6.95, and Forex trading is listed from a spread of 0.8 pips, representing the least competitive offer in the broad selection.
  • Mutual fund management requires a 0.25% annual platform fee. No other trading costs apply, and Fineco Bank is transparent about all involved charges.

 

Additional Trading Fees

 

Overnight fees, or swap fees, are also charged to positions held overnight. Customers are not charged inactivity fees, however, which is competitive.

Fineco Bank does not offer an Islamic Account, which allows Muslim traders to enjoy swap-free trading, as this type of interest is prohibited by Sharia law. This is a pity as the lack of an Islamic account will present a great drawback to Muslim traders.

 

Broker Fees

 

Traders also need to ensure that they verify additional charges which may be waived by their financial institution. Also, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

Fineco Bank is not a spread betting broker, so spread betting broker fees will not apply.

 

Pros and Cons

✔️ PROS ❌ CONS
Competitive broker fees Information not provided on deposit fees
Information not provided on withdrawal fees

 

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FAQ’s

 

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.

 

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 brokers do 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.

 

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.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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