Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM and FinecoBank both established their presence in the financial world in 1999, offering investors reliable online trading platforms. Both companies are publicly traded, reflecting a level of transparency and accountability. When it comes to trustworthiness, as evaluated by ForexBrokers.com, FXCM holds a Trust Score of 95 while FinecoBank is close behind with a score of 94. These high scores indicate that both brokers are highly trusted, making them appealing options for your trading needs.
In terms of regulatory oversight, FXCM boasts an impressive four Tier-1 licenses, highlighting its commitment to maintaining stringent standards. Additionally, it has two Tier-2 licenses. On the other hand, FinecoBank, which operates as a bank, holds two Tier-1 licenses and currently no Tier-2 licenses. This comparison shows FXCM as slightly more diverse in its regulatory coverage while FinecoBank benefits from the stability of being a full-fledged bank.
| Feature |
FXCM
|
FinecoBank
|
|---|---|---|
| Year Founded | 1999 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing FXCM and FinecoBank on commissions and fees, FXCM tends to have slightly higher forex trading prices than the industry average. With its standard accounts, FXCM's spreads for the EUR/USD pair in the EU, U.K., and Australia averaged 0.78 pips as of May 2024, while its St. Vincent and the Grenadines entity showed higher spreads averaging 1.38 pips. On the other hand, FXCM's commission-based accounts boast lower average spreads of 0.28 pips, excluding commissions, though the effective spread after commissions tends to rise to about 0.74 pips per round-turn trade. Notably, FXCM offers an Active Trader Rebate Program, enabling deeper discounts for high-volume traders outside the U.K. and EU, which can significantly reduce costs.
FinecoBank's commission and fee structure is less transparent, as it doesn't publish average spread data for its forex and CFD trading. The bank lists a spread of 1 pip for the EUR/USD, which, even if an average, is relatively high compared to many brokers. Another listed spread of 0.8 pips lacks context, such as an average basis or specified date range. However, FinecoBank appears to provide more competitive spreads for its index CFDs, thus offering lower trading costs in that particular area.
In terms of ratings, FXCM earns 4 stars for its commissions and fees and is ranked 24th out of 62 brokers by ForexBrokers.com. FinecoBank, with a rating of 3.5 stars, ranks 50th in the same category. The details and transparency favor FXCM in the competition for favorable commissions and fees, particularly for high-volume traders who can take advantage of its rebate programs.
| Feature |
FXCM
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 FXCM and FinecoBank, both offer forex trading options as either a CFD or spot contract, making them accessible for currency trading enthusiasts. FXCM provides access to 440 tradeable symbols, including 43 forex pairs, while FinecoBank offers a substantially wider range with 9,770 tradeable symbols, including 54 forex pairs. While both brokers allow for some cryptocurrency derivatives, only FXCM supports copy trading, offering traders a social component not available at FinecoBank. Despite FXCM’s offerings, FinecoBank excels in providing access to exchange traded securities both in U.S. and international exchanges, allowing clients to directly purchase stocks like Apple and Vodafone. FXCM does not support this direct purchase ability, focusing more on CFD trading.
In terms of range of investments, FinecoBank stands out with a rating of 4.5 stars compared to FXCM’s 3.5 stars. This higher rating is supported by FinecoBank’s rank as the 16th out of 62 brokers, whereas FXCM ranks 47th. FinecoBank’s rich array of tradeable assets gives it a significant advantage for investors seeking a diverse portfolio, while FXCM’s appeal may lie with traders interested in CFDs and the added benefit of copy trading. For those who prioritize a wide range of investment options, FinecoBank appears to be the more versatile choice.
| Feature |
FXCM
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 9770 |
| Forex Pairs (Total) | 43 | 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 FXCM and FinecoBank, FXCM offers a more comprehensive trading experience, particularly for traders seeking diverse platforms and tools. FXCM provides a free demo account for practice, a feature FinecoBank lacks, allowing beginners to test strategies without financial risk. Both brokers developed their proprietary platforms and support Windows-based desktop trading, as well as web-based platforms. However, FXCM further enhances its offerings with access to MetaTrader 4 and ZuluTrade, along with copy trading options. In contrast, FinecoBank does not support these tools, limiting versatility for traders interested in automated and strategy-sharing features.
Charting capabilities reveal more flexibility from FXCM, boasting 10 drawing tools compared to FinecoBank's 7, and the ability to trade directly from stock charts—another capability absent from FinecoBank’s service. FXCM also offers 13 columns for watch lists, providing comprehensive market views, while FinecoBank's watch list features remain unspecified. This array of features has earned FXCM 5 stars and a 6th place ranking by ForexBrokers.com for trading platforms and tools, whereas FinecoBank is rated 4 stars and ranks 18th. Overall, FXCM's platform seems more suited for traders who value additional features and customizability in their trading toolkit.
| Feature |
FXCM
|
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) | No | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 37 |
| Charting - Drawing Tools (Total) | 10 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 13 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and FinecoBank provide mobile trading apps compatible with iPhone and Android devices, allowing users to access stock and forex price alerts. While both platforms support viewing multiple time frames on charts, FXCM stands out with advanced features such as the ability to draw trendlines, which FinecoBank lacks. FXCM also excels in watchlist management by offering symbol syncing with online accounts, ensuring seamless updates across platforms—a feature unavailable in FinecoBank's app.
FXCM takes the lead in technical charting with 59 technical studies, compared to FinecoBank's 6. Additionally, FXCM's app automatically saves drawings on charts, a convenience FinecoBank doesn't offer. FXCM also allows for real-time quote watchlists, enhancing the trading experience, unlike FinecoBank. In terms of user satisfaction, FXCM receives a higher rating of 4.5 stars compared to FinecoBank's 4 stars and ranks 16th among 62 brokers for mobile trading apps, while FinecoBank ranks 42nd. These factors suggest FXCM may be a preferable choice for traders who prioritize advanced features and seamless account integration.
| Feature |
FXCM
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
FXCM and FinecoBank both cater to online traders with unique strengths in market research, providing investors with distinctive resources to inform their trading strategies. FXCM offers daily market commentary, which is a crucial feature that FinecoBank does not provide, allowing FXCM users to stay updated on daily market trends. Both brokers offer forex news from reputable sources like Bloomberg and Reuters, ensuring their clients receive up-to-date and accurate information. A standout feature of FXCM is its partnership with Trading Central, offering technical analytics not available through FinecoBank, along with a sentiment-based trading tool that shows long or short positions across currency pairs. FinecoBank does not provide these specific tools, potentially limiting its traders' research options.
When it comes to accessing market insights, FXCM includes research content from TipRanks, a feature absent from FinecoBank. Both platforms, however, offer an economic calendar, helping traders track significant global news and events that could impact markets. In terms of ratings, FXCM scores a commendable 4.5 stars for research compared to FinecoBank’s 4.0 stars. Reflecting these evaluations, FXCM ranks higher at #11 among 62 brokers in the Research category, while FinecoBank ranks at #33. This comparison indicates that FXCM provides a broader array of research tools and services to assist traders in making informed decisions.
| Feature |
FXCM
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | 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, FXCM outshines FinecoBank. FXCM offers an extensive array of more than ten educational pieces focused on forex and CFDs, providing beginners with a wealth of information through articles, videos, and webinars. Additionally, FXCM holds monthly online webinars and maintains a searchable archive of these sessions, allowing learners to access past content easily. Beginners at FXCM can also benefit from targeted educational videos that cover trading basics, along with more advanced materials for experienced traders. Moreover, the investor dictionary with definitions of over 50 investing terms serves as a handy tool for those new to trading.
FinecoBank also provides a commendable selection of beginner-focused videos and holds monthly webinars to support novice traders. However, it lacks a comprehensive library of over ten educational pieces specifically dedicated to forex and CFDs. FinecoBank's resources for advanced traders are also limited compared to FXCM. While both brokers offer dictionaries with investing terms, FXCM's offerings are considered more extensive in the educational domain. This superiority is reflected in FXCM's higher education rating of 4.5 stars and a ranking of 14th in the ForexBrokers.com education category, compared to FinecoBank's 49th position with a 4.0-star rating.
| Feature |
FXCM
|
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 62 of the best forex brokers, our research and account testing finds that FXCM is better than FinecoBank. FXCM finished with an overall rank of #15, while FinecoBank finished with an overall rank of #25.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 94 |
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When comparing online brokers FXCM and FinecoBank, FXCM allows trading of cryptocurrency derivatives but not the purchase of actual cryptocurrencies, whereas FinecoBank does not support either actual cryptocurrency purchases or cryptocurrency derivatives.
FXCM and FinecoBank both support ACH and SEPA transfers, as well as bank wire options for funding and withdrawing funds from accounts; however, FXCM uniquely offers a broader range of payment methods including PayPal, Skrill, and Visa or Mastercard, whereas FinecoBank does not support these particular payment options.
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 | FXCM | FinecoBank | |
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| Trust Score | 95 | 94 | |
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| Review | FXCM Review | FinecoBank Review |
| Broker Screenshots | FXCM | FinecoBank | |
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| Regulation | FXCM | FinecoBank | |
|---|---|---|---|
| Trust Score | 95 | 94 | |
| Year Founded | 1999 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | FXCM | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | 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) | FXCM | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 9770 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | No |
| Funding | FXCM | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | Yes |
| Trading Platforms | FXCM | 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) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 13 | N/A | |
| Charting - Indicators / Studies (Total) | 115 | 37 | |
| Charting - Drawing Tools (Total) | 10 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 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 | FXCM | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | FinecoBank Review |
| Overall | FXCM | FinecoBank | |
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| Trust Score | 95 | 94 | |
| Winner | check_circle | ||
| Review | FXCM Review | FinecoBank Review |
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