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 |
FXCM and FinecoBank have distinct differences in their commissions and fees, each catering to different trader preferences. FXCM’s forex trading costs are slightly higher than the industry norm. For EU, U.K., and Australia markets, standard account spreads on the EUR/USD pair averaged 0.78 pips as of May 2024, while their St. Vincent and the Grenadines entity showed a higher average of 1.38 pips. Commission-based accounts offer more competitive pricing with spreads averaging 0.28 pips, though after commissions, the effective spread is around 0.74 pips. Notably, FXCM offers significant discounts for active traders through their tiered rebate program, although competitors like Tickmill and FP Markets offer better pricing. FXCM is rated 4 stars for its commissions and fees and ranks #24 out of 63 brokers.
FinecoBank, on the other hand, does not provide average spread data for forex and CFD trading, making it difficult to gauge precise trading costs. They list a spread of 1 pip for the EUR/USD pair, which is higher than usual, though with noted spreads of 0.8 pips, the lack of a published average can be limiting for traders seeking transparency in costs. Despite this, FinecoBank reportedly offers lower spreads on index CFDs. For its commissions and fees, FinecoBank is rated 3.5 stars and ranks #51 out of 63 brokers, indicating moderately competitive pricing in comparison to others.
| 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 the range of investments offered by FXCM and FinecoBank, significant differences emerge. FXCM provides 440 tradeable symbols with 43 forex pairs, focusing mainly on forex trading through CFDs or spot contracts. While FXCM supports copy trading and offers cryptocurrency derivatives, it does not allow the purchase of exchange-traded securities on U.S. or international exchanges. In terms of investment range, FXCM holds a rating of 3.5 out of 5 stars and ranks 47th among 63 brokers according to ForexBrokers.com.
Conversely, FinecoBank boasts a more extensive selection with 9,770 tradeable symbols, including 54 forex pairs. In addition to forex trading via CFDs or spot contracts, FinecoBank stands out by providing access to exchange-traded securities on both U.S. and international exchanges, allowing investors to buy stocks like Apple and Vodafone directly. However, FinecoBank does not offer copy trading or cryptocurrency derivatives. With these offerings, FinecoBank is rated 4.5 out of 5 stars for its range of investments and is ranked 16th by ForexBrokers.com in the same category.
| 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 the trading platforms and tools of FXCM and FinecoBank, several key differences emerge that may influence traders' choices. Starting with simulated trading, FXCM offers a valuable free virtual demo account for users to practice and hone their skills without financial risk, while FinecoBank does not provide this feature. Both brokers have developed their own proprietary platforms and offer Windows-based desktop downloads as well as web-based trading. However, FXCM stands out with its inclusion of popular platforms like MetaTrader 4 (MT4) and social trading service ZuluTrade, whereas FinecoBank does not support these tools.
An in-depth look at charting tools reveals that FXCM provides 10 drawing tools and allows trading directly from a stock chart, giving users a dynamic and interactive experience. Conversely, FinecoBank offers 7 drawing tools without the direct trading capability. FXCM also excels with its customizable watch lists featuring 13 columns, a feature not specified for FinecoBank. These differences are reflected in their ratings, with FXCM earning a 5-star rating for trading platforms and tools, securing the 6th spot out of 63 brokers according to ForexBrokers.com. FinecoBank, while respectable with a 4-star rating, is positioned at 18th in the same category, indicating a competitive but distinct experience for traders choosing between these two platforms.
| 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 offer mobile apps for iPhone and Android users, making it easy for traders to manage investments on the go. While both platforms provide price alerts and the ability to view different time frames on charts, FXCM stands out with its capability to sync watchlists between the mobile app and online account. This ensures that any changes made are updated across all devices. FinecoBank, however, lacks this syncing feature. Moreover, FXCM's app allows traders to draw trendlines and auto-save these drawings, unlike FinecoBank's app, which does not offer these functionalities.
When it comes to analytical tools, FXCM shines by offering a whopping 59 technical studies for charting, compared to just 6 provided by FinecoBank. Additionally, FXCM enables the creation of watchlists with real-time quotes, a feature FinecoBank does not support. These differences contribute to FXCM's higher user rating of 4.5 stars for its mobile trading app, compared to FinecoBank's 4 stars. As a result, FXCM ranks #16 among 63 brokers for mobile trading apps on ForexBrokers.com, significantly higher than FinecoBank's rank of #42.
| 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.
When it comes to market research capabilities, FXCM and FinecoBank each offer a range of valuable resources, but there are distinct differences in their offerings. FXCM excels in providing daily market commentary, a feature not available with FinecoBank. Both brokers supply forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, ensuring that traders have access to important financial news. However, FXCM further distinguishes itself by offering technical analysis tools from Trading Central, in contrast to FinecoBank, which does not provide these tools. Additionally, FXCM includes a sentiment-based trading tool showing position ratios, alongside research from TipRanks, both of which are absent from FinecoBank's offerings.
While both brokers provide an economic calendar for tracking global news events, FXCM's superior market research offerings earn it a higher overall research rating of 4.5 stars compared to FinecoBank’s 4.0 stars. This reflects their respective rankings by ForexBrokers.com, with FXCM placed at #11 and FinecoBank at #33 out of 63 brokers. These differences make FXCM a highly appealing choice for traders who prioritize comprehensive research tools and insightful market commentary.
| 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 comparing the educational resources for beginners offered by online brokers FXCM and FinecoBank, FXCM clearly stands out. FXCM offers a comprehensive range of educational materials, including over ten articles and videos focused on forex and CFDs, a feature not provided by FinecoBank. Additionally, FXCM ensures continuous learning opportunities with at least one online educational webinar per month and maintains a searchable archive of past webinars for clients. This is an advantage over FinecoBank, which, despite also offering monthly webinars, lacks a searchable archive of recorded sessions. Both brokers cater to beginner traders with at least ten instructional videos, but only FXCM supplies a selection of advanced trading videos for more seasoned investors. Both brokers provide an investor dictionary with over 50 investing terms, aiding traders in enhancing their knowledge base.
The educational distinction is evident in their ratings and industry rankings. FXCM enjoys a higher educational rating of 4.5 out of 5 stars, compared to FinecoBank's 4.0 stars. Furthermore, whenlined up against 63 brokers in the education category by ForexBrokers.com, FXCM holds a strong position at 14th place, while FinecoBank trails at 49th. Clearly, FXCM is better equipped to support both novice and experienced traders with its extensive educational offerings.
| 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 63 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 | |
| Winner | check_circle | ||
| 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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