Fineco Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Fineco is an Italian bank and CFD broker that’s regulated in Italy and subject to regulation in the UK. We will discuss all important aspects of the brokerage firm in this in-depth Fineco review, including its fees and commissions, account opening and verification procedures, and apps and trading platforms, as well as safety features, spreads, and leverage.

Regulated By

Regulated By

BIC, FCA & PRA

Used By

Used By

1,300,000 + Clients

Established in

Established in

1999

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65.18% of retail investor accounts lose money due to CFD trading with this provider.

Spreads From

EURUSD 0.8 pips

What Can You Trade on FINECO

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Trading Platforms

DesktopMobile

Funding Methods

Wire TransferVisaMaster Card

Fineco Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Fineco is an Italian bank and CFD broker that’s regulated in Italy and subject to regulation in the UK. We will discuss all important aspects of the brokerage firm in this in-depth Fineco review, including its fees and commissions, account opening and verification procedures, and apps and trading platforms, as well as safety features, spreads, and leverage.

  • author Eric Gift
  • Last updated 20/05/2024

65.18% of retail investor accounts lose money due to CFD trading with this provider.

Regulated By

Regulated By

BIC, FCA & PRA

Used By

Used By

1,300,000 + Clients

Established in

Established in

1999

Spreads From

EURUSD 89 Points

Trading Platforms

DesktopMobile

What Can You Trade on FINECO

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster Card

Fineco Overview

Fineco was founded in 1999 in Milan, Italy; it is one of a few among the brokers that offers banking services. More to our concern, however, it offers a selection of 20,000+ trading instruments from 26 global markets. These include stocks from about 13 different markets, 50+ forex pairs, 5+ commodities, and a number of Index CFDs. It also offers 3+ futures and options, 6000+ bonds and securities, and 5,500+ ETFs. The company has its headquarters in Milan, Italy, and it enjoys regulation from the Bank of Italy and Consob, as well as the UK’s FCA and PRA. 

This comprehensive Fineco review will discuss the trading platform exhaustively, starting with a brief overview of its pros and cons and then its regulations, supported countries, assets, fees, and platforms. Then, we will explore its payment methods, customer support and safety, and then highlight some users’ comments about the broker.  

Fineco Homepage

Pros

  • Multi-Regulated.
  • Investor Protection Available. 
  • Low Non-Trading Fees. 
  • Great Mobile App.
  • Offers Banking Services.
  • Offers Real Stocks.

Cons

  • Poor Charting Tools.
  • Only One Office Location.
  • No Longer Available for UK Traders.

Fineco Regulations

Fineco only has two offices, both of which are in Milan, Italy. It previously had a branch in the UK; however, seemingly due to regulatory issues, it has been in the process of withdrawing its services from the UK. However, it still holds a license there as well as in Italy, though that license may be void soon. This section of our review will overview the Italian location as well as the regulators defining the rules of operation for the broker. 

FinecoBank S.p.A: Fineco has two Italian offices, both of which are situated in Milan. The first is its registered office at Piazza Durante 11, Milan 20131, and the other is its headquarters via Rivoluzione d’Ottobre 16, Reggio Emilia 42123. These entities are regulated by the Bank of Italy and Consob. 

  • Registration Number: 01392970404

Although the broker no longer has an office in the UK, it still holds regulatory licenses from both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). 

Supported Countries

Fineco appears to be an extremely limited broker, geographically speaking. Throughout our examination of the website, we found little indication that it supports any countries outside of the UK and Italy. However, as we have seen, it’s no longer available in the UK, and the UK website no longer allows new sign-ups. Overall, Fineco does not appear to offer its services beyond, at most, the EU. And, as is the case with almost every broker in the EU, it’s not available to US traders.  

Available Assets at Fineco

Fineco’s trading platform offers a considerably broad range of trading instruments that clients can speculate on. Its assets are mostly CFDs, including those of shares, indices, commodities, and forex pairs. In addition to these, it offers real shares, bonds, options, ETFs, and futures. In total, it offers 20,000+ trading instruments. 

As we will discuss in subsequent sections of this Fineco review, the platform offers these assets commission-free and with tight spreads. The leverage is also quite generous on many assets, but the risks increase as a result, and the broker appropriately warns that 62.02% of retail investor accounts incur losses from trading CFDs on its platform. But more to the point of this section, we will discuss the assets the broker offers. 

Assets available on Fineco

Cryptocurrencies

Traders willing to trade with high volatility in the market for underlying digital currencies can trade some of the most popular cryptocurrencies on the broker’s Italian platform. There are a few different ways to trade these assets on Fineco. You can either trade CFDs with underlying futures in Bitcoin and Ethereum, as knock-out options in the same underlying assets, or as exchange-traded products with both underlying assets in addition to Ripple.

Fineco Cryptocurrencies

Stocks

Fineco provides access to a very broad market for shares. It offers basically two types of stock trading, the first one being the stock CFD offering. You can trade up to 540+ different stock CFDs on the platform. Since these are contracts for difference, the leverage effect applies. Fineco charges no commissions for trading these share CFDs, and neither does it charge any spreads – at least, not for FTSE50, EU, and US shares. However, market spreads do apply, and these are generally tight spreads. 

In addition to CFDs, the broker also allows you to trade real shares from up to 13 different global stock markets. There are no spreads for these assets, and since they are not CFDs, leverage does not apply. Commissions, however, do.

Fineco Stocks

Commodities

The broker provides a platform for trading up to 5+ commodity CFDs. These are basic commercial goods that are exchangeable for other goods of the same type. Commodities are usually energy resources, agriculturally produced food crops, industrial raw materials, or valuable metals. There are 5+ of these commodity CFDs on Fineco, including precious metals like gold, silver, and platinum, and energy resources like natural gas and crude oil.

Trading these commodities is commission-free, and Fineco does not charge any spreads of its   own. However, tight market spreads do apply, ranging from as low as 0.008 points for natural gas to as much as 10 points for palladium. 

Fineco Commodities

Indices

The platform allows you to access a market for about 6+ major stock indexes. These indexes are bundles of shares in a national stock exchange, including some listed according to the market capitalization of the companies that own them. Leverage applies, as it does for all CFDs, and the spreads are very low – from 0.4 points for the S&P 500 and 0.6 points for the Nasdaq 100. The platform lists these two indexes along with the Dow Jones, Cac 30, Dax 30, FTSE 100, and EURO STOXX 50 as the top ones to trade. 

Fineco Indices

Forex

Fineco is also a pretty robust forex platform, enabling investors to trade some 50+ forex pairs, including major, minor, and exotic ones. You can trade these currency pairs 24 hours a day from Monday to Friday, and you can do multi day trading from 10:15 PM on Sundays to 10:00 PM on Fridays (barring from 22:00 to 22:15). The platform allows trading in local currency, with the freedom to choose when to close your positions. It also gives you free quotes, and no commissions are charged, though tight market spreads apply – spread on EUR/USD starts from 0.8 pips.

Fineco Forex Pairs

Bonds

Bonds are another type of trading instrument you can access on Fineco. 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. These assets are traded on several high-performing bond markets, including OTC markets, ETLX, EuroMOT, and Euronext. 

Fineco Bonds

Futures

Fineco’s trading platform allows you to trade futures. However, it offers quite a limited number of futures compared to any other platform, with access to only 3+ futures markets. They include CME, IDEM, and EUREX. These derivative price contracts can be traded intraday and overnight, with leverages up to 1:20 for some, like Micro E-mini futures. 

Fineco Futures

Options

The broker’s market for stock options is as limited as its futures market. It offers access to just 4+ options markets, with both covered and uncovered options available. You can access options on S&P, Nasdaq, Russell Indices, Dow Jones, and even US stocks, as well as the Volatility Index and the CBOE market. 

Fineco Options

Certificates

You can speculate on Fineco certificate CFDs with fixed leverage up to 1:7. You can also trade turbo certificates with dynamic leverage on futures of American and European indices, currency crosses, and commodities. No commissions apply to these, and you can trade long or short. 

Fineco Certificates

ETFs

Gain access to markets for a wide range of exchange-traded funds, exchange-traded commodities, and mutual funds like Fidelity International. Fineco’s ETF trading platform offers a greater range of assets than its options and futures markets, with up to 5,500+ ETFs and ETCs available. These ETFs are traded on and across major North American and European exchanges, as well as some smaller European ones. They are also among the least risky investments on the platform, though they are still significantly risky to trade. 

Fineco ETFs

Spreads

Fineco does not appear to charge spreads on its own; instead, the spreads that apply are market spreads, and these are generally quite low for the platform’s forex pairs. We’ll discuss spreads some more in the fees section of our Fineco review, but suffice it to say for now that the platform’s spreads are transparent. 

Leverage

The platform offers a relatively small leverage for forex trading, though how much you get depends on what kind of currency pair you’re trading. If you trade major pairs, the leverage you can access approximately is up to 1:30 (3.5% margin). For non-major pairs (including exotics), the leverage is up to 1:12.5 (8% margin).

InstrumentsCFD Standard Account Minimum Spread (From)Leverage (Up to)

FOREX 

Major Forex Pairs

EUR/USD0.8 pips1:30
USD/JPY1 pips1:30
GBP/USD1.2 pips1:30
NZD/USD5 pips1:30
AUD/USD3 pips1:30
USD/CHF4 pips1:30
USD/CAD5 pips1:30

Minor Forex Pairs

AUD/CHF10 pips1:12.5
AUD/JPY6 pips1:12.5
AUD/CAD10 pips1:12.5
AUD/NZD13 pips1:12.5
CAD/CHF8 pips1:12.5
CAD./JPY6 pips1:12.5
CHF/DKK17 pips1:12.5
EUR/GBP1.2 pips1:12.5
EUR/AUD10 pips1:12.5
EUR/JPY2 pips1:12.5
EUR/CAD12 pips1:12.5
EUR/CHF3 pips1:12.5
EUR/NZD12 pips1:12.5
EUR/ZAR100 pips1:12.5
GBP/JPY7 pips1:12.5
GBP/CAD10 pips1:12.5
GBP/NZD35 pips1:12.5
GBP/NOK75 pips1:12.5
GBP/AUD10 pips1:12.5
GBP/CHF7 pips1:12.5
GBP/SEK65 pips1:12.5
CHF/JPY4 pips1:12.5
NZD/JPY7 pips1:12.5
NZD/CHF10 pips1:12.5

Exotic Forex Pairs

CHF/DKK 17 pips1:12.5
CHF/NOK 35 pips1:12.5
CHF/SEK 35 pips1:12.5
DKK/JPY 10 pips1:12.5
EUR/CZK30 pips1:12.5
EUR/DKK5 pips1:12.5
EUR/HKD30 pips1:12.5
EUR/HUF45 pips1:12.5
EUR/MXN100 pips1:12.5
EUR/NOK35 pips1:12.5
EUR/TRY19 pips1:12.5
EUR/PLN45 pips1:12.5
EUR/SEK40 pips1:12.5
EUR/SGD15 pips1:12.5
NOK/JPY10 pips1:12.5
NOK/SEK 8 pips1:12.5
USD/CZK50 pips1:12.5
USD/DKK25 pips1:12.5
USD/HKD8 pips1:12.5
USD/MXN70 pips1:12.5
USD/NOK40 pips1:12.5
USD/SEK40 pips1:12.5
USD/TRY14 pips1:12.5
USD/ZAR175 pips1:12.5

Commodities

Light Crude oil0.32 points1:10
Palladium10 points1:20
Silver4.0 points1:20
Gold5.85 points1:20
Natural Gas0.008 points1:10
Platinium2.90 points1:20

Fineco Fees and Commissions

Fineco’s fees, which we will discuss in this review section, are generally average and competitive across all asset classes. They include both trading and non-trading fees, and many of them are for shares. That said, let’s dive deeper into this broker’s fee structure. We shall first consider its trading fees. 

Fineco Fees and Commissions

Trading Fees

Activities you perform on a trading platform are generally grouped into trading and non-trading activities. These activities include placing buy or sell orders or leaving trade positions open overnight. Trading costs are fees you pay for performing these activities, and they typically accrue on a per-trade basis. 

Spreads, commissions, and overnight charges are the trading fees the Fineco trading platform charges. 

Spreads

The difference between the bid and ask prices of an asset gives its spread, and Fineco’s spreads are pretty competitive. 

The first thing to know about spreads is that they take the place of trading commissions with regard to CFDs. Additionally, not all assets have spreads, as some are listed regulated markets for which trading commissions apply instead of spreads. The other thing to know is that the spreads can be quite high, especially depending on the instrument being considered. Exotic currency pairs, for instance, have very high spreads (from 175 pips for USD/ZAR). The lowest forex spreads are from 0.8 pips for EUR/USD. The platform does not list a minimum spread, but the lowest we found was from 0.008 points for Natural Gas. 

Commissions

The commission structure on the Fineco is quite convoluted. To begin with, the broker charges no commission for CFDs. Then there is the fact that it charges new customers differently for the first three months after account opening than it charges old clients. For example, for futures and options, new clients get the lowest commission range on futures and options, up to €0.85 and $1 per lot. However, it is important to note that the commission depends also on the trading volume. For instance, the standard commission, as it applies to FTSE MIB, is €6.95 for trades under €499, €3.95 for between €500 – €1499, and €1.95 for trades above €1500. 

Next, there is the fact that commissions are classed into fixed and variable types. The scheme for fixed commissions is such that it allows you to achieve a ‘More convenient commission range,’ which will stay valid for the next month. Getting to this range depends on the amount of commission you generate in a month and in what markets. For example, for the Italian markets, it’s €19 for under €99 generated, €9.95 for under €100, €6.95 for under €1500, and €2.95 for over €2500. Some markets also bring additional fees; for instance, an extra €9 dollars in fixed fees is in addition to the commission. 

There are also variable commissions for various markets, such as the 0.19% commission (Min. €2.95 – max. €19) for shares, ETFs, and certificates on the Italian and European markets. The commission for bonds in these markets has a lower bound of €2.95 or €5.95 and an upper bound of €19. 

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.

Overnight Fees

These are fees that you will incur for leaving a position open for more than a day. How much the platform charges you in overnight fees depends on a number of factors, such as the type of asset, the net value of the margin paid, the duration of time, the nature of the position (long or short), and whether or not the asset is Euro-traded. 

For forex positions, whether long or short, the overnight charge is 2.95% plus a variable amount based on the TOM Next rates of the currency.

For Index CFDs,  overnight charges are given by the following formulas:

  • Euro-traded positions (long): Euribor 1m 360  + 2.50%.
  • Euro-traded positions (short): Euribor 1m 360  – 2.50%.
  • Non-Euro traded positions (long): Mid TOM Next rate of the relevant currency + 2.50%.
  • Non-Euro traded positions (short): Mid TOM Next rate of the relevant currency – 2.50%.

The same formulas apply for the corresponding positions regarding commodities and underlying bonds. They also apply for share CFDs, although all short CFD positions, regardless of being Eurotraded or not, have a flat charge of 2.50%. Additionally, the bid/ask prices for Share CFDs in the FTSE250 index come with a markup of 0.06% per side.  

Note that Euribor is Europe’s interbank rate, which is calculated and published daily, as are the TOM Next Rates. 

Non-Trading Fees

Non-tradings, sometimes known as passive fees, are charges you pay for non-trading activities on a platform. Fineco does not charge very many of these; in fact, we only found one such charge, the account fee. 

Account Charge

This charge only applies to clients using the Fineco Account option. Given that this account type offers the most complete and well-rounded trading solution on the platform, it makes sense that the broker levies a (resettable) monthly charge of €3.95. 

Fineco Trading Platforms

In terms of platform availability, Fineco does not perform badly. It does not support MT4 or MT5; however, it is still well-covered, as it offers great apps for both desktop and mobile platforms. For mobile platforms, there is the mobile app, while desktop platforms get FinecoX and PowerDesk. These are the apps we will talk about in this section of our Fineco review, starting with the desktop platform.

Fineco Trading Platforms

Desktop Trading Platform

Fineco traders have to rely on the platform’s proprietary PC app, FinecoX or PowerDesk, which are available on both PC and tablet. We’ll be discussing FinecoX here. 

FinecoX is a highly advanced trading platform with complete, adaptable, and sophisticated capabilities. There is one significant restriction: you can only use FinecoX if you open the Fineco Account type, as it’s not available under the Trading Account. Still, what it lacks in universal access to traders, it makes up for with its suite of solid capabilities and features that make trading seamless. Let’s discuss the major ones.

Fineco Desktop Trading Platform

Preset Workspaces

FinecoX features a drag-and-drop function that allows you to adapt your workspace to your specific needs if the predefined workspace does not meet them. 

FinecoX Workspace

Global Search

The intuitive search feature on FinecoX allows you to find any trading instrument you want from among thousands. 

FinecoX Global Search

Graphing and Analysis

The application features advanced graphical and analysis tools, allowing you to analyze markets and securities you are interested in. 

FinecoX Graphing and Analysis

Charting

You can enjoy easy and seamless charting features that allow you to choose price levels, set needed parameters, and submit your trading orders directly. You can also access dynamic charts with 100+ available indicators. You can also view the charts more closely and examine finer price movements, thanks to the application’s screen panning feature. 

FinecoX Charting

View Customization

In addition to its drag-and-drop workspace customization, FinecoX also offers the capability to monitor any markets with different views or themes, such as Lista and Vista Trend. 

FinecoX Visual Customization

Component Chaining

This is a professional trading feature that allows you to link application modules together. Any updates, say, that you make to one module will reflect on the others ‘chained’ to it. 

FinecoX Component Chaining

How to Open an Account and Trade on the FinecoX Desktop Trading Platform

To start trading on the platform, you need to open a trading account. There are two available types, but while we will mention them here, we’ll explain them in more depth in the relevant section of this Fineco review. For now, let us go through the steps for opening an account on the platform. 

  1. Go to the platform’s website home page (the Italian one; the UK website no longer allows new sign-ups.), click on ‘Trading’ on the menu bar, and click on ‘Open the Account’ at the top right corner of your browser screen. 
  2. Tick ‘Trading’ from among the options on the next page and click ‘Continue’ to proceed. Fineco Trading Selection Page
  3. The next page will show you two account options; choose the Fineco account in order to gain access to the FinecoX app.
  4. Select the number of people you would like the account to be registered to. If you have a promo code, there is a field into which to enter that, too. Fineco Account Access Page
  5. Input your name, email address, and cellphone number, then tick Yes or No to consent to reject updates from Fineco. Fineco Registration Page
  6. A six-digit code will be sent to your phone message box. Enter it in the field provided. Fineco Verification Page
  7. After verifying your phone number, proceed to the next page and provide your personal details, including your government name, home address, date of birth, etc. 
  8. The next set of details to provide is information on your trading experience, which will help determine if you have the knowledge and experience needed to trade CFDs on the platform. 
  9. Verify your identity. Fineco will provide a set of fields for you to upload your ID and proof of address documents. 
  10. Once your account has been verified, you can then log in to the FinecoX app using the login details you will receive upon verification.
  11. Find the asset you would like to trade and click on it to open the order page. 
  12. Set the trading parameters, including stop loss and take profit (if you require), and then place your order by clicking ‘Buy’ or ‘Sell.’ 

Mobile Trading App

Fineco also has a mobile app that you can use to trade on the go. The mobile app is available for both Apple and Android devices, and you can download it in the app stores for both operating systems. Like FinecoX, the user interface is friendly and easy to navigate, and it brings many advanced trading features to the table. 

In this review section, we will go over the features of the mobile app; then, we will show you the steps to open an account. 

Fineco Mobile App

Markets

You can view all of Fineco’s available markets in one interface, with each trading instrument appropriately grouped and relevant details displayed. 

Fineco App Markets

Orders

Placing orders is an easy process on the app’s user interface, which allows you to set parameters and execute trades easily. 

Fineco App Orders

Trading Strategy

The mobile app contains features to enable you to choose and implement trading strategies. The interface makes it easy to identify the best strategies by grouping them according to metrics like sector and performance. 

Fineco App Trading Strategy

Accessibility

The Fineco app not only has an intuitive user interface, but it also allows you to easily access a variety of features like order monitoring, account services, currency exchange, and CFD market pages from a single menu.

Fineco App Accessibility

Account View

The app allows you to view the overall state of your account, with metrics like liquidity and monthly expenses in one summary interface. 

Fineco App Account View

How to Open an Account and Start Trading on the Fineco Mobile App

You have to open an account to trade on the Fineco mobile app. To open an account, you only need to follow these simple steps. 

  1.  Search and download the Fineco mobile app from your app store. Fineco App Installation
  2. Open the app and tap on ‘Open account’ in the lower right corner of the screen that appears. 
  3. Ignore the ‘Open New Account’ on the next page; instead, find ‘Is trading your sole interest? Click here’ and click as directed.  
  4. Tap on ‘Open Fineco Account’ to proceed. 
  5. Select the number of users you want the account registered to and press ‘Continue.’
  6. Input your name, country, and phone number, then indicate consent to or rejection of Fineco updates. 
  7. Verify your phone number via the code that will be sent to your phone.
  8. Proceed to the next stage, where you have to submit your personal details, including residence, date of birth, and others.
  9. Verify your identity with proof of ID and proof of residence. 
  10. Upon verification, you can now log in to your account on the Fineco mobile app. Go to the account section and select ‘deposit funds’ to open the deposit page. 
  11. Select a deposit channel and follow the guidelines provided to deposit money using that channel.
  12. Search your preferred trading instrument using the search bar, click on it, and open the order page. 
  13. Set your trade parameters and place the order. 

Fineco Account Types

The Fineco trading platform offers a very narrow set of just two account types you can trade on. It offers no demo accounts, which means practice trading is not possible on the platform. The two available account options are the Fineco and Trading accounts, each of which we will briefly overview in this review section. 

Fineco Account Types

Fineco Account

This is the main account type that offers the most complete trading and investment solution available on the broker. You have to open this type of account to access the FinecoX and PowerDesk apps, which are not available for the other account. Other features that are only accessible on this account include multicurrency service, multi-member accounts, conditional orders and trailing stops, investment funds, financial advice, and banking features like payment slips, payment cards, utilities, checks, credits, mortgages, and loans. 

The account comes with a monthly account charge of €3.95, and the commissions are fixed from €19 to €2.95 per operation or asset, with entry for €9.95. 

Trading Account

This is the second and least capable account type on the platform. If you open this type of account, you can only access trading services, and your access to customer support is limited to the email channel, unlike if you opened a Fineco account instead – you’d get access to both email and telephone support. 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. You can trade stocks, shares, ETFs, and all the other commodities (except funds), and you can fund your account with bank transfers in Italy and abroad. 

The commissions on this account are 0.19% of the order value, with a minimum of €2.95 and a maximum of €19. There is no monthly account charge to pay. 

Fineco Payment Methods

The Fineco trading platform offers a very limited set of payment options for traders. While the platform does operate a number of payment services with several payment channels, it only allows deposits and withdrawals into your trading account via two methods: bank cards and bank transfers. In this section of our review, we will overview the payment system on the platform and everything you need to know about making deposits and withdrawals on the platform, including its minimums. 

Fineco Payment Methods

Deposit Methods

To make deposits on Fineco, you can use bank cards or bank transfers in Italy and abroad. Other popular methods like e-wallets, online banking, and crypto are unavailable. Deposits may take any time from a few seconds to several business days to complete, depending on which of the two methods you use. Moreover, there are no deposit fees or minimum deposit requirements. 

Deposit MethodSpeedMinimum Deposit
MastercardInstantNone
VisaInstantNone
Bank Transfer1 – 3 business daysNone

Withdrawal Methods

The Fineco trading platform allows you to withdraw your earnings via either of the same two methods of bank cards or wire transfers. Withdrawals take a bit longer; bank card withdrawals may take under a day, while those done via bank wire transfer can take up to 5 business days to complete. 

The platform does not appear to have any minimum withdrawal requirements. There are no withdrawal fees except for international bank withdrawals, which cost up to $24.7.

How to make a withdrawal on Fineco

To withdraw from your Fineco trading account, you just need to follow these easy steps. 

  1. Open your trading app and go to the accounts section. 
  2. Click on the option to access your funds, and then click ‘withdraw.’
  3. Select the method you would like to withdraw with, and then input any relevant banking details or information. 
  4. Verify your identity and authorize the withdrawal request. 

Education at Fineco

Fineco offers a relatively diverse set of trading education resources to help traders improve their trading skills, and this review section will touch on them.

While the platform offers no demo account to enable traders to practice, its educational materials do make it possible to improve trading over time. Traders can benefit from the platform’s webinars, educational and tutorial videos, ‘Help’ articles, and FAQ sections. However, it is worth noting that these resource types can be limited in scope. For instance, the educational videos only cover a select few topics, generally the basics of things. Moreover, not all the educational resources are free; the webinars and online classroom courses are behind a subscription paywall. 

Then, there are the trading tools and research materials you can leverage. The live market news updates keep you informed about events relevant to your trading, and you can also take advantage of analysis tools and economic calendars.  

Fineco Education

Fineco Customer Services

We tested out the platform’s customer support service to see how it performs, and we will now lay out our findings in this section of the review. 

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). If you open a Trading Account, you can only access support via email (and the live chat, too). 

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. It also has a presence on Spotify and Reddit

Fineco Customer Services

Fineco Online Reviews

We will now turn our attention to the online user base to see what they think about Fineco. We will be deriving online sentiment from Reddit, Quora, Trustpilot, and ForexPeaceArmy. 

What Reddit Users Say About Fineco

Reddit users seem to mostly favor the app, as most reviews we found were positive, though they usually have a caveat to some fault. An example is this trader, who finds the platform ‘almost’ well-rounded. 

Fineco Reddit Review 1

This other user acknowledges the negative comments they found on Trustpilot about the customer services but reports that that has not reflected their experience of the platform, but generally and just in terms of the customer service. 

Fineco Reddit Review 2

What Quora Users Say About Fineco

There are no comments about Fineco on Quora. 

TrustPilot Users’ Reviews About Fineco

Fineco has glowing comments on Trustpilot, with an overall rating of 4.8 stars from 45,000+ reviews. Some users are satisfied with the customer service, like this trader who says they’ve been using the platform since 2021. 

Fineco Trustpilot Review 1

This other user is pleased about their responsiveness to online requests. 

Fineco Trustpilot Review 2

We should note, however, that all the remarks seem to be about the banking service and not the trading. 

ForexPeaceArmy Users’ Review About Fineco

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. For example, trader Francesco finds the pricing unfavorable.

Fineco ForexPeaceArmy Review 1

However, there is at least one positive comment; trader Federico considers them trustworthy and reliable. 

Fineco ForexPeaceArmy Review 2

Is Fineco Safe?

Let’s now consider the question of Fineco safety. How safe, trustworthy, and reliable is the brokerage firm? 

First, let’s consider platform safety, in which regard Fineco does not perform badly. The platform uses SSL encryption and provides security measures to help secure user accounts and data. 

The next area to consider is client money protection. 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. 

Next, there is regulatory oversight, and the platform does not perform too well here. The platform is no longer technically operational in the UK, so it probably no longer even holds the FCA license as at the time of this review. As such, its only real regulator is the Bank of Italy and Consob.  

Overall, regulatory short-coming aside, Fineco is a safe and trustworthy broker.

Other Products and Services at Fineco

Aside from its trading services, Fineco also offers a suite of other services clients can take advantage of. Here are the other products and services Fineco offers. 

Fineco other products and services

Banking

Fineco is technically first a bank and then a trading platform. Its banking services are highly commended, as you will immediately find on platforms like Trustpilot. 

The account offers a range of services and features, from utility bill payments, withdrawals, bank transfers, and financing options to wallets, cards, and digital identity.

The account charges a few fees, mostly for services like card maintenance, such as the annual fee of €9.95 for debit cards, €19.95 for credit cards, and €29.95 for multifunctional credit cards. 

Fineco Banking

Investing Services

The platform also offers robust investment services that allow clients to independently invest in a variety of products, such as ETFs, shares, savings plans, etc. The investment platform features asset enhancement services, retirement planning, insurance solutions to protect client capital, and access to infrastructure for economic development. 

Fineco Investing Services

Private Banking

Fineco offers some pretty solid private banking services with a consultancy model tailored to your specific needs. The service helps you develop investing, management, and protection strategies in synergy with advanced planning technologies with the aid of an experienced adviser or consultant. This private banking service comes with financial advice and asset consultancy in the package. 

Fineco Private Banking

Payment Services

The bank also offers a digital payment service that allows you to explore different methods of making online purchases. With a Fineco card, smartphone, or watch and compatible POS, you can make secure payments via Apple Pay, Fitbit Pay, or Garmin Pay. 

Fineco Payment Services

Bottom Line

Let’s recap all we have learned from our in-depth Fineco review so far. 

First, the platform’s trading instruments are very diverse, offering you a chance to try various investments and diversify risk. The fee structure, although quite convoluted, is also quite affordable, and it offers a way to enjoy commission cuts. Account options are not very diverse, but the options available are not bad. The Fineco account, in particular, is among the most robust broker accounts we have looked at. 

Security-wise, the platform performs pretty well. Platform security is great, especially with the SSL encryption and password system. Traders can also be rest assured their money is secured in segregated bank accounts; Fineco also provides indemnity in case of loss. Regulatorily, the situation is not too encouraging, but it still makes sense, given that the broker will only offer its services to traders with an Italian tax code. 

The trading platforms, FinecoX and PowerDesk, are very robust applications, offering you trading features that will make trading easier and even more enjoyable. Education and research are also pretty commendable, although limited in depth despite their diversity of avenues. Finally, we find the customer support very nice, especially the live chat feature. It does have to open a new browser window, which is just a little inconvenient, and it could do with just a bit of aesthetic overhaul. However, it does the job well enough, and the response is swift, courteous, and helpful.

Q & A

To log in to Fineco, you have to open the app and enter your login details in the fields provided.

We find Fineco to be a legit broker.

The banking and trading platform’s stock price, as at the moment of writing, stands at €12.36.

You can download the Fineco app on the app store of any supported OS.

The spread on Fineco starts from 0.8 pips.

The maximum leverage on the broker is 1:30.

Fineco offers a professional account, but only on its UK site, which no longer allows account opening. As such, the account type is currently unavailable.

The platform’s fees are generally quite low and affordable.

The broker charges commissions, but not only for its non-CFD instruments.

Yes. FinecoX and the Fineco mobile app are the broker’s proprietary platforms. 

As at the time of this review, the platform appears to only service Italian clients or, at least, clients who are tax-resident in the country.

Yes, Fineco offers crypto CFD trading.

Yes, you can invest in real shares on Fineco.

Yes. Fineco Bank offers asset management services.

The broker does not have a minimum deposit requirement.

There are no withdrawal fees on the broker. 

The available payment options on the platform are Mastercard, Visa, and bank wire transfers.

Though there are quite a few scathing reviews for the banking service, the available reviews for the trading and investment sector of the company are overwhelmingly positive.