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 the commissions and fees of FinecoBank and FXOpen, several factors come into play, mainly surrounding transparency and spread costs. FinecoBank does not disclose average spread data for forex or CFD trading, which makes evaluating its trading costs challenging. For the EUR/USD pair, FinecoBank lists a spread of 1 pip, and sometimes as low as 0.8 pips, but without clarity if these figures are averages or specific to a particular period. Though the broker might offer lower spreads on index CFDs, the lack of detailed information might deter those seeking cost predictability.
In contrast, FXOpen also does not provide average spread data, yet it tends to attract traders by offering a more competitive fee structure overall. Both FinecoBank and FXOpen leave some gaps in their transparency about average spreads, but FXOpen’s overall cost-effectiveness earns it a better rating and ranking.
In terms of star ratings for commissions and fees, FinecoBank receives 3.5 out of 5, while FXOpen garners a higher rating of 4 out of 5. According to ForexBrokers.com, FinecoBank ranks 51st out of 63 brokers, while FXOpen comes in slightly better at 44th. These rankings reflect a general leaning towards FXOpen as a more favorable choice for cost-conscious traders looking for clearer and potentially lower trading expenses.
| 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.
FinecoBank distinguishes itself with a wide range of investment options, offering a noteworthy number of 9,770 tradeable symbols. This includes 54 forex pairs and the opportunity to trade exchange-traded securities on both U.S. and international exchanges, allowing clients to own shares of prominent companies like Apple and Vodafone. While FinecoBank does not support copy trading or cryptocurrency derivatives, its extensive offerings earn it a high rating of 4.5 stars for the range of investments and a strong 16th place ranking out of 63 brokers.
In comparison, FXOpen provides a more focused selection with 87 tradeable symbols and 25 forex pairs. However, it does not offer exchange-traded securities on U.S. or international exchanges. FXOpen stands out by supporting copy trading and offering cryptocurrency derivatives, despite not providing options to buy actual cryptocurrencies. These offerings result in a 3-star rating for their range of investments and a lower ranking of 62nd among 63 brokers, suggesting a more specialized approach compared to FinecoBank's broader reach.
| 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 trading platforms and tools of FinecoBank and FXOpen, both cater to specific needs of traders, yet they each have distinct offerings. FinecoBank highlights its in-house developed proprietary platform accessible through both web-based and Windows-based desktop versions. Though they offer limited charting features with only 7 drawing tools, traders interested in native platforms might appreciate their unique offering. However, FinecoBank does not provide a simulated demo account or MetaTrader platforms, which could be seen as a drawback for those wanting to explore or test their strategies in a risk-free environment.
In contrast, FXOpen's platform access leans heavily on the popular MetaTrader suite, offering both MT4 and MT5 alongside a Windows-based and web-based trading platform. FXOpen supports paper trading with a free virtual demo account, making it an attractive option for new traders or those testing strategies. With additional features like 15 charting drawing tools, the ability to trade directly from a stock chart, and copy trading through ZuluTrade, FXOpen appears designed for those who value flexibility and strategic diversity, despite being rated the same as FinecoBank at four stars for trading platforms and tools. Nevertheless, FinecoBank was ranked higher by ForexBrokers.com, suggesting that both brokers have appealing qualities depending on the individual trader's priorities.
| 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 |
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When comparing the mobile trading apps of FinecoBank and FXOpen, both brokers offer iPhone and Android compatibility, as well as stock and forex price alerts. However, there are notable differences in their app features. FinecoBank provides six technical studies for charting, while FXOpen offers a more extensive selection of 30 studies. Additionally, only FXOpen includes the functionality to draw trend lines on stock or forex charts within the app. Both apps support viewing multiple time frames but lack the capability to auto-save chart drawings or sync watchlists between mobile and online accounts.
FinecoBank does not have the option to create watchlists with real-time quotes, a feature available in FXOpen’s app. Despite these differences, both apps receive a four-star rating for mobile trading. As ranked by ForexBrokers.com, FinecoBank stands at 42nd place among 63 brokers, whereas FXOpen is positioned 54th. Users might prefer FinecoBank for its slightly higher ranking, but FXOpen offers more comprehensive charting tools and watchlist features for those seeking a broader array of options within the app.
| 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 it comes to market research offerings, FinecoBank and FXOpen present distinct features. While FXOpen provides daily market commentary, FinecoBank does not include this service in its suite. Both platforms offer forex news from renowned sources such as Bloomberg, Reuters, and Dow Jones. Neither FinecoBank nor FXOpen includes technical analysis or fundamental research tools from known companies like Autochartist or Trading Central. Additionally, sentiment-based trading tools and market research from TipRanks are absent from both brokers. However, each offers an economic calendar that highlights significant global news events, a helpful tool for traders wanting to stay updated on market-moving news.
When evaluating research tool effectiveness, FinecoBank stands out with a 4.0-star rating compared to FXOpen’s 3-star rating. On ForexBrokers.com, FinecoBank is positioned at #33, reflecting a higher ranking among 63 firms, while FXOpen lags at the #63 spot. This comparison underscores FinecoBank’s stronger performance in research aspects, especially for traders who place value in reliable forex news and market event tracking.
| 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 it comes to educational resources for beginners, FinecoBank and FXOpen present distinct offerings. FinecoBank excels with monthly online educational webinars, providing fresh and timely learning opportunities for newcomers to forex and CFDs. However, both brokers lack a substantial library of forex or CFD-focused educational content, with neither meeting the threshold of ten pieces. FinecoBank stands out by offering over ten beginner-friendly trading videos, catering directly to those just starting in the trading world, which is an advantage over FXOpen, who does not meet this criterion.
Both brokers offer an investor dictionary with definitions of at least 50 investing terms, making it easier for beginners to grasp the basics. Despite FinecoBank's shortcomings in providing a broad range of advanced videos and an archive of recorded webinars, its efforts in educational resources earn it a 4-star rating, ranking it 49th out of 63 brokers according to ForexBrokers.com. FXOpen, while rated 3 stars for education, ranks lower at 58 out of 63, highlighting FinecoBank as a more favorable choice for beginner traders seeking educational support.
| 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 63 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
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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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