Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FinecoBank, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets, established in 2005, is a well-regarded online broker, although it does not hold status as a publicly traded company or a bank. Despite this, it has earned a respectable Trust Score of 89 from ForexBrokers.com. This score reflects its possession of two Tier-1 licenses and one Tier-2 license, suggesting that while it is not at the very top tier of trust, it remains a trusted institution for those considering online trading options.
In contrast, FinecoBank, which began operations in 1999, stands as both a bank and a publicly traded entity. With a ForexBrokers.com Trust Score of 94, FinecoBank demonstrates a commendable level of credibility. It shares the holding of two Tier-1 licenses with FP Markets but does not possess any Tier-2 licenses. These elements mark FinecoBank as a more trusted choice according to ForexBrokers.com, making it a reliable option for those seeking banking and online brokerage services.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Year Founded | 2005 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing FP Markets and FinecoBank in terms of commissions and fees, FP Markets emerges as a highly cost-effective choice for traders, thanks to its competitive pricing in both MetaTrader and cTrader platforms. Recognized for excellence, FP Markets received a distinguished "Best in Class" award for Commissions and Fees in 2024, boasting a 5-star rating and ranking 6th out of 63 brokers on ForexBrokers.com. The Raw ECN account at FP Markets offers attractive spreads averaging 0.1 pips, with a commission bringing it to 0.8 pips all-in. However, it's worth noting that their Iress ViewPoint accounts demand higher balances and might be less budget-friendly, particularly for casual investors. While the Iress Investor Account provides a lower-cost option, it lacks advanced features found in premium accounts.
FinecoBank, on the other hand, maintains an air of uncertainty due to its lack of published average spread data for forex and CFD trades. This opacity makes it challenging to evaluate the actual trading costs. Stated spreads from FinecoBank are 1 pip for EUR/USD and 0.8 pips on index CFDs, without clarity on average values or date metrics. This may result in slightly higher trading costs compared to more transparent brokers. FinecoBank is rated 3.5 stars for commissions and fees, significantly lower than FP Markets, placing it at the 51st spot in the same category ranking.
Overall, FP Markets appears to provide better value through its transparent and competitive pricing structures. FinecoBank, while offering potentially lower spreads on index CFDs, lacks the same level of clarity and consistency necessary for traders seeking low-cost execution. Traders focusing on minimizing costs may find FP Markets, with its 5-star rating and comprehensive offerings, a more fitting choice.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FP Markets and FinecoBank for their range of available investments, both platforms offer forex trading as CFDs or spot contracts. FP Markets provides an impressive 10,000 tradeable symbols, surpassing FinecoBank's offering of 9,770. FP Markets also leads in the number of tradeable forex pairs, with 71 pairs compared to FinecoBank's 54. However, FP Markets does not support buying exchange traded securities on U.S. and international exchanges, focusing instead on CFDs and derivatives, including cryptocurrency derivatives. FinecoBank, on the other hand, allows clients to purchase actual shares on both U.S. and international exchanges, though it does not offer access to cryptocurrency derivatives.
FP Markets distinguishes itself through its support for copy trading, enabling investors to mirror the trades of successful traders, a feature FinecoBank does not offer. Despite these differences, both FP Markets and FinecoBank receive a 4.5-star rating for their range of investments. FinecoBank slightly edges out FP Markets in ForexBrokers.com's ranking for this category, securing the 16th spot, while FP Markets is ranked 18th out of 63 brokers. This comparison highlights the strengths and unique offerings of each broker, catering to different investor preferences and goals.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 9770 |
| Forex Pairs (Total) | 71 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing FP Markets and FinecoBank, particularly in trading platforms and tools, both brokers offer distinct features catering to different trader preferences. FP Markets stands out with its provision of simulated trading through a free virtual demo account, providing invaluable practice for traders at no cost. It supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are highly popular platforms known for their comprehensive trading capabilities. Additionally, FP Markets supports copy trading, allowing users to automatically copy the trades of experienced traders. Although it lacks social trading options like DupliTrade and ZuluTrade, FP Markets compensates with tools that enable a direct trading experience from stock charts and a notable array of seven watch list columns for better customization. The platform also offers 17 drawing tools to enhance charting analysis.
On the other hand, FinecoBank holds its ground with its proprietary platform, also accessible on both desktop and web-based versions, aimed at offering a seamless trading experience. However, it lacks a virtual demo account, which might be a consideration for those seeking practice without financial risk. FinecoBank does not support MT4 or MT5 and lacks copy trading options, focusing instead on fostering a more independent trading environment. With the ability to chart up to seven technical indicators and the provision of seven drawing tools, it provides fundamental analytics support. FinecoBank does not offer the ability to trade directly from stock charts but maintains its competitive edge with a high ranking from ForexBrokers.com, standing at 18th place out of 63 brokers, slightly higher than FP Markets, which is positioned at 23rd.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 17 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and FinecoBank offer mobile trading apps for iPhone and Android users, meeting the basic needs of most traders. Each platform provides stock or forex price alerts to help users stay informed about market movements. However, neither app supports watchlist symbol syncing between the mobile application and the online account, which might be a limitation for those who frequently switch between devices.
FP Markets allows greater charting flexibility with the MetaTrader platform and the ability to draw trendlines, view multiple time frames, and auto-save drawings, offering a more comprehensive charting experience. FinecoBank, on the other hand, offers series of six technical studies but lacks features like trendline drawing and auto-save options. Additionally, the real-time watchlist feature is available in FP Markets' mobile app but absent in FinecoBank’s. This might influence active traders in their choice of platform. While both apps received a 4-star rating for mobile trading, FP Markets ranks higher in the ForexBrokers.com review, placing 18th compared to FinecoBank's 42nd position out of 63 brokers, potentially highlighting user preference and functionality differences between the two.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
FP Markets and FinecoBank are both noteworthy options for traders seeking rich market research resources, though there are key differences between the two. FP Markets stands out by providing daily market commentary, a feature FinecoBank does not offer. Both brokers deliver forex news from top-tier sources such as Bloomberg and Reuters, meeting the needs of traders who require timely information. When it comes to advanced research tools, FP Markets emerges as the stronger option with services from companies like Autochartist and Trading Central, which FinecoBank does not provide. Additionally, FP Markets offers a sentiment-based trading tool that FinecoBank lacks, potentially giving its users an extra edge in understanding market dynamics.
Both FP Markets and FinecoBank provide economic calendars to keep traders updated with global news events, enhancing their strategic planning. However, neither broker offers research tools from Acuity Trading or market research from TipRanks. In terms of research quality ratings, both brokers score 4 stars out of 5. Yet, FP Markets holds a higher position in the Research category according to ForexBrokers.com, ranking 25th out of 63 brokers, as opposed to FinecoBank's 33rd place. This subtly highlights FP Markets' stronger emphasis on offering a comprehensive suite of research tools and features.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FP Markets and FinecoBank for educational resources tailored to beginners, FP Markets stands out with a wide range of forex and CFDs educational materials. They offer more than 10 pieces of educational content in various forms, such as articles and videos, specifically focused on forex and CFDs. FP Markets also provides a comprehensive library of past client webinars, aiding in learning continuity. In contrast, FinecoBank does not meet this standard of offering at least 10 focused educational items in these areas and lacks a searchable archive of past webinars, potentially limiting accessibility for newcomers looking to broaden their understanding.
Both brokers regularly host educational webinars, allowing users to learn in a dynamic environment, and they both provide more than 10 beginner videos covering trading basics, fostering a solid foundation for new traders. However, for advanced educational content, FP Markets again leads by offering over 10 advanced trading videos, contributing to a more enriched learning experience for experienced traders seeking to deepen their insight. Although both brokers supply a detailed investor dictionary, FP Markets edges out a higher educational rank at #23 compared to FinecoBank's #49, providing a more comprehensive educational platform overall for new and advanced traders alike.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FP Markets is better than FinecoBank. FP Markets finished with an overall rank of #19, while FinecoBank finished with an overall rank of #25.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 94 |
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FP Markets provides the option to trade cryptocurrency derivatives, unlike FinecoBank which does not offer any cryptocurrency derivative trading; however, neither broker allows the purchase of actual (delivered) cryptocurrency.
FP Markets supports account fund transfers through PayPal, Skrill, Visa, Mastercard, and bank wires, but not via ACH or SEPA transfers, whereas FinecoBank allows ACH, SEPA, and bank wire transfers but does not support PayPal, Skrill, Visa, or Mastercard transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FP Markets | FinecoBank | |
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| Trust Score | 89 | 94 | |
| Winner | check_circle | ||
| Review | FP Markets Review | FinecoBank Review |
| Broker Screenshots | FP Markets | FinecoBank | |
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| Regulation | FP Markets | FinecoBank | |
|---|---|---|---|
| Trust Score | 89 | 94 | |
| Year Founded | 2005 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FP Markets | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 9770 | |
| Forex Pairs (Total) | 71 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FP Markets | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | FP Markets | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 17 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FinecoBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FinecoBank | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FP Markets Review | FinecoBank Review |
| Overall | FP Markets | FinecoBank | |
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| Trust Score | 89 | 94 | |
| Winner | check_circle | ||
| Review | FP Markets Review | FinecoBank Review |
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