Unlike some other online brokers, Fineco Bank also enables traders to buy and sell stocks, ETFs, and mutual funds directly, as well as to trade bonds and options. 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. The account also does not allow you to access FinecoX, PowerDesk, or multicurrency service, though you can access the site and the Fineco mobile app.
Before you trade, AskTraders.
All account holders can request a Fineco Bank debit card, which you can use to deposit and withdraw money at any Fineco Bank or UniCredit ATM. Fineco protects the funds of its traders by holding them in segregated accounts. Additionally, the platform offers indemnity to the tune of €100,000 for cash and €20,000 for securities. The first thing to know about customer support on the platform is that how much of it you can access as a trader depends on what kind of trading account you are using. If you use the Fineco Account, you can access support via both email and phone (in addition to the live chat available on the site).
Account options
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. The Fineco Bank app keeps users informed with financial tweets and economic data, providing valuable market insights.
Trading platform
They can also find answers to commonly asked questions by visiting the FAQ section of the broker’s website. Customers can navigate between the Accounts, Markets, Portfolio, and Funds tabs, and other useful features via the dropdown menu at the bottom right corner. Indices are included among this broker’s available financial offerings. Customers will be able to participate in trading Indices CFDs such as FTSE100, Germany 30, S&P 500, and Dow Jones.
- Segregated accounts are also offered, which means that in the event of bankruptcy or insolvency, your money will always remain safe.
- Fineco traders have to rely on the platform’s proprietary PC app, FinecoX or PowerDesk, which are available on both PC and tablet.
- There are up to 6,000+ government bonds, gilts, and sovereign corporate and structured securities you can trade on the platform with direct market access.
- Finally, some users also claimed that the English version of the broker’s website is poorly translated and sometimes redirects customers to the Italian option.
Fees – 9/10
Government bonds, options and ETFs are also available to trade in their own right (not as CFDs). Contracts for differences are financial instruments issued by financial institutions that replicate the price movements of an underlying asset. The owner of the contract does not directly hold or own the underlying asset. If you’re looking for a low-cost share dealing platform that makes it super easy to buy and sell stocks, ETFs, and funds, it might be worth considering Halifax. You don’t need to have a current account with the provider, and getting started takes just minutes. Fineco Bank does not offer traders access to MetaTrader software, although you can use the software without linking your brokerage account.
All you need to do is select which fund you want, and then the experts at that fund will take care of the investments for you. They know what they’re doing – and you’ll pay a fee for them to manage your money within the investment fund itself too, which goes to them, not Fineco. You can invest on their website, and mobile phone app – both are very easy to use. It’s a separate section (platform) to the actual trading software, so you don’t need to go near that if you don’t want to (leave that for the day traders!). This is where you can buy, sell and hold your investments for more long-term investing.
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In fact, even if you are not the owner of an account, you can access a free number of useful information on the objects of your choice. No, FinecoBank’s web-based and desktop trading platforms have identical functionality. Yes, FinecoBank provides professional accounts with increased leverage and extra features designed to meet the demands of experienced traders who qualify for professional status. Clients that trade Forex pairs can enjoy spreads as low as 0.8 pips on major currency pairs such as EUR/USD. There is no minimum deposit amount and no charges for account inactivity. CFD Stocks are commission-free but not the non-CFD products such as futures, options, bonds and shares.
- Fineco Bank is headquartered in Milan, Italy, and has been operating in the UK since mid 2017.
- Note, however, that all these commissions are from the broker’s Italian website, as the UK platform seems to be in the phasing out process and no longer allows traders to sign up.
- The coverage of markets in Italy and Europe is good, as is the access to non-European markets such as Canada, Japan, Australia, Hong Kong and Singapore.
- These margin requirements can squeeze retail traders and make it more difficult for low-volume traders to make significant profits with Fineco Bank.
Among the services offered is ChartTrading on the PowerDesk platform, where you can place orders directly from charts, and implement over 90 technical indicators to support technical analysis. By trading online with this account, you will not be charged any UK tax on capital gains or dividends, nor any UK tax on interest or coupons earned on bonds. Residents of any other country outside of these two countries will not be able to access trading services on Fineco.
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There are a total of 9 Fineco reviews on ForexPeaceArmy, and they add up to a poor sentiment overall. The rating is a poor 1.5 stars, and nearly all the comments are negative. We should note, however, that all the remarks seem to be about the banking service and not the trading. In addition to email, phone, and live chat, the broker is reachable on social media. The platform has social media handles on Facebook, X, LinkedIn, and Instagram.
So, we can conclude that the broker has great trading platforms, equipped with powerful tools and many instruments. But it is more suitable for advanced traders, as it has poor educational materials and the users interface is not easy to use for beginners. fineco trading review There are a great variety of markets for trading, including forex, indices, commodities, bonds, stocks, shares, CFDs and so on. Fineco belongs to Fineco Group, the leading retail financial group in Italy and Europe with 1,3+ million customers spread throughout the 5 continents.
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