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 choosing an online broker, it's essential to consider the tools and platforms offered. FinecoBank provides a proprietary trading platform developed in-house, delivering a customized experience. It supports trading on both web and Windows-based desktop platforms, offering flexibility for various trading preferences. However, FinecoBank does not provide a simulated trading option, such as a demo account, which can be a drawback for those new to trading. The platform lacks support for MetaTrader 4 and 5, popular among traders for their advanced features, and does not offer copy trading services. Despite these limitations, FinecoBank is rated four stars for its trading platforms and tools, securing a respectable 17th rank out of 62 brokers evaluated by ForexBrokers.com.
In contrast, FXOpen offers a variety of trading platforms, including MetaTrader 4 and 5, which are well-regarded for their comprehensive features. While FXOpen does not have a proprietary platform, it compensates through its highly versatile offerings, including a Windows-based desktop and web-based trading platform, similar to FinecoBank. FXOpen excels in providing a free virtual demo account, ideal for experimenting and honing trading skills. Additionally, it stands out with options like copy trading and integration with ZuluTrade, enhancing social trading experiences. FXOpen also allows trading directly from stock charts and provides more drawing tools for charting compared to FinecoBank. It matches FinecoBank's four-star rating for trading platforms and tools, but ranks 53rd in the same category according to ForexBrokers.com, suggesting room for improvement in their offering.
| 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 evaluating FinecoBank and FXOpen for their market research offerings, both brokers provide access to forex news from top-tier sources like Bloomberg and Reuters. They also offer economic calendars to keep traders updated on global news events. However, FXOpen stands out by offering daily market commentary, whereas FinecoBank does not. Despite this, FinecoBank manages to achieve a higher rating of 4 stars for research, compared to FXOpen's 3-star rating.
Neither FinecoBank nor FXOpen provide tools from companies like Autochartist, Trading Central, TipRanks, or Acuity Trading, nor do they offer sentiment-based trading tools. According to ForexBrokers.com, FinecoBank ranks significantly higher, coming in at #33 out of 62 brokers in the research category, while FXOpen is ranked last at #62. This suggests that FinecoBank may offer a more comprehensive research experience despite the lack of some specific tools.
| 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 FinecoBank and FXOpen in terms of educational resources for beginners, FinecoBank emerges as a more favorable choice. FinecoBank provides a monthly schedule of online educational webinars to help beginners get started in trading, which FXOpen does not offer. Although neither broker supplies a full range of forex or CFD educational content, FinecoBank excels with more than 10 beginner educational videos focused on trading topics aimed specifically at novice investors, a resource that FXOpen lacks.
Both brokers offer an investor dictionary with comprehensive definitions of investing terms, supporting beginner traders with essential knowledge. However, FinecoBank outperforms FXOpen in educational rankings, receiving a rating of 4 stars out of 5 from ForexBrokers.com compared to FXOpen’s 3 stars. In overall educational ranking among 62 brokers, FinecoBank places 49th, noticeably ahead of FXOpen, which stands at 58th. This makes FinecoBank a more appealing option for traders seeking a supportive learning environment as they enter the world of trading.
| 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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