Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs FXOpen, 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.
FinecoBank, established in 1999, and FXOpen, founded in 2003, are both significant players in the online brokerage industry, but they differ in several crucial aspects. FinecoBank is not only a broker but also a publicly traded bank, contributing to its perception of reliability. It holds a strong Trust Score of 94 out of 99 from ForexBrokers.com, indicating it is highly trusted. This high score is supported by its two Tier-1 licenses, recognized for their stringent regulations and security standards.
On the other hand, FXOpen, which is not a bank and not publicly listed, has a different profile. It holds two Tier-1 licenses but does not have any Tier-2 licenses, similar to FinecoBank. FXOpen has a Trust Score of 76 on ForexBrokers.com, placing it in the average risk category. This indicates that while FXOpen is a viable option for trading, FinecoBank's standing as a publicly traded bank with a higher Trust Score offers a bit more assurance to potential investors.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing FinecoBank and FXOpen in terms of commissions and fees, FinecoBank faces challenges due to its lack of transparency in publishing average spread data for forex and CFD trading. This lack of clarity makes it difficult to accurately determine FinecoBank's actual trading costs. Notably, FinecoBank mentions a 1 pip spread for EUR/USD and a 0.8 pip spread, but it does not specify whether these are average values or provide a date range for these figures. Despite this, it may offer more competitive spreads for its index CFDs compared to its forex offerings.
On the other hand, FXOpen also does not provide average spread data, yet it receives a more favorable rating for its fees structure. FXOpen gets a 4-star rating out of five, surpassing FinecoBank's 3.5-star rating. This rating suggests that FXOpen may be perceived as more cost-effective by traders when it comes to fees and commissions, despite the lack of detailed spread information.
In terms of ranking among 62 brokers, FinecoBank is placed at #50 for commissions and fees, according to ForexBrokers.com. In contrast, FXOpen ranks slightly higher at #45 in the same category. These rankings indicate that FXOpen may have an edge over FinecoBank in terms of overall cost-effectiveness for traders looking for competitive fee structures in their online trading platform.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FinecoBank and FXOpen regarding their range of investments, FinecoBank offers a significantly broader selection. With 9,770 tradeable symbols, FinecoBank provides access to a diverse variety of investment options, including 54 forex pairs. This gives investors a wealth of opportunities to diversify their portfolios. Furthermore, FinecoBank allows clients to trade exchange-traded securities on both U.S. and international exchanges, enabling direct investment in major companies like Apple and Vodafone. In contrast, FXOpen presents a more limited selection with only 87 tradeable symbols and 25 forex pairs. Moreover, FXOpen does not support investing in exchange-traded securities on U.S. or international markets.
Despite each broker offering forex trading as CFDs or spot contracts, their capacity to foster a wide-ranging investment experience differs. FinecoBank does not offer copy trading or cryptocurrency derivatives, yet it still scores high with a 4.5-star rating for its investment range, ranking 16th out of 62 brokers according to ForexBrokers.com. FXOpen does support copy trading and offers cryptocurrency derivatives, which adds a unique component to their offerings. However, it receives a lower 3-star rating and ranks 61st in the same category. This comparison highlights FinecoBank as a strong choice for investors seeking a diverse range of investing options, while FXOpen may appeal to those interested in copy trading and cryptocurrency derivatives.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 87 |
| Forex Pairs (Total) | 54 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the online trading platforms and tools of FinecoBank and FXOpen, both have their unique strengths and factors to consider. FinecoBank offers a proprietary platform, providing users with a unique, in-house trading experience. It supports Windows-based desktop and web-based trading platforms, allowing a wide range of access for its users, but lacks support for third-party platforms like MetaTrader 4 and 5 (MT4 and MT5). FXOpen, on the other hand, doesn't have a proprietary platform but supports widely recognized platforms such as MT4 and MT5. Traders preferring a simulated trading experience might find FXOpen more appealing, as it offers a virtual demo account, unlike FinecoBank. However, when it comes to charting tools, FinecoBank provides 7 drawing tools, while FXOpen offers more with 15 drawing tools, facilitating a more comprehensive technical analysis.
FXOpen takes the lead in providing copy trading and advanced features like trading directly from a stock chart, which FinecoBank lacks. This could be pivotal for traders who prioritize versatility and community-driven strategies. FXOpen also supports social trading platforms such as ZuluTrade, offering additional avenues for strategy development. On the flip side, FinecoBank's platforms are highly rated, earning 4 out of 5 stars for their usability, matching FXOpen’s rating despite FinecoBank ranking higher at #18 compared to FXOpen's #53 by ForexBrokers.com. This suggests that FinecoBank's platform efficiency and tools are well-regarded, appealing to traders who value proprietary systems and a streamlined trading environment.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FinecoBank and FXOpen provide iPhone and Android apps for seamless mobile trading experiences. Each app ensures you stay informed with stock or forex price alerts. While neither broker's app supports watchlist symbol syncing, where mobile app watchlists sync with clients' online accounts, there are differences in charting and technical analysis features. FinecoBank's mobile app includes six technical studies for charting, whereas FXOpen shines with 30 technical studies and the added capability to draw trendlines. Both apps allow users to view multiple time frames, providing flexibility in analyzing stock or forex charts. However, it's important to note that neither app auto-saves chart drawings.
FXOpen stands out by offering the ability to create a watchlist featuring real-time quotes, a feature not available with FinecoBank. Both brokers' mobile trading apps receive a solid four-star rating, indicating user satisfaction with their offerings. When ranked by ForexBrokers.com, FinecoBank earns the 42nd spot out of 62 brokers for mobile trading apps, while FXOpen is positioned at 54th. These insights can guide your decision based on specific mobile trading needs and preferences.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of FinecoBank and FXOpen, both platforms provide reliable forex news sourced from top-tier providers like Bloomberg and Reuters. However, only FXOpen supplies daily market commentary, potentially offering more timely insights for active traders. While neither broker offers technical analysis tools from companies such as Autochartist or Trading Central, they both support traders with an economic calendar that highlights current and upcoming global events, essential for informed decision-making.
In terms of overall research quality, FinecoBank stands out with a four-star research rating compared to FXOpen's three stars. This difference in ratings is reflected in their rankings, with FinecoBank positioned at #33 and FXOpen at #62 out of 62 brokers according to ForexBrokers.com. Despite these differences, both brokers lack sentiment-based trading tools, TipRanks, and resources from Acuity Trading, which means users looking for comprehensive tools and analytics may need to seek additional resources beyond what these brokers provide.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings of FinecoBank and FXOpen, beginners may find FinecoBank to be a more supportive environment. FinecoBank hosts regular online client webinars, with at least one session every month, providing active opportunities for learners to engage and grow. Although neither platform offers a comprehensive archive of these webinars, FinecoBank enhances its educational approach with more accessible videos for beginners, surpassing FXOpen with over ten introductory videos that cover basic trading topics. Additionally, both platforms supply an investor dictionary with more than fifty terms, making terminology more approachable for those just starting their trading journey.
On the other hand, FXOpen lacks regular educational webinars and falls short of providing an expansive collection of beginner-friendly videos, which can be a drawback for novice traders seeking structured guidance. Both brokers share a focus on foundational knowledge, although FinecoBank ranks higher in education, earning a 4-star rating compared to FXOpen's 3 stars. Among a field of 62 brokers, FinecoBank's educational tools help it rank at 49, while FXOpen comes in at 58. This distinction might guide beginners toward FinecoBank as a preferred choice for educational content, based on the available resources to kickstart their trading experience.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FinecoBank is better than FXOpen. FinecoBank finished with an overall rank of #25, while FXOpen finished with an overall rank of #54.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 76 |
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While FinecoBank does not provide options to buy either actual cryptocurrencies or cryptocurrency derivatives, FXOpen allows users to trade cryptocurrency derivatives but not the actual digital assets themselves.
In a comparison of deposit and withdrawal options between online brokers FinecoBank and FXOpen, FinecoBank facilitates ACH or SEPA transfers and bank wires but lacks support for PayPal, Skrill, Visa, or Mastercard, while FXOpen does not offer ACH or SEPA transfers or PayPal, yet supports Skrill, Visa, Mastercard, and bank wires.
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 | FinecoBank | FXOpen | |
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| Trust Score | 94 | 76 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
| Broker Screenshots | FinecoBank | FXOpen | |
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| Regulation | FinecoBank | FXOpen | |
|---|---|---|---|
| Trust Score | 94 | 76 | |
| Year Founded | 1999 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | Yes | 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) | FinecoBank | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 87 | |
| Forex Pairs (Total) | 54 | 25 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | Yes | |
| 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). |
| Cost | FinecoBank | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FinecoBank | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FinecoBank | FXOpen | |
|---|---|---|---|
| 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 | FinecoBank Review |
| Overall | FinecoBank | FXOpen | |
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| Trust Score | 94 | 76 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
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