Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets and FinecoBank are both well-regulated online brokers, yet they cater to slightly different audiences due to their unique characteristics. IC Markets, founded in 2007, holds two Tier-1 licenses, making it a trusted option as recognized by ForexBrokers.com's 84 out of 99 Trust Score rating. However, IC Markets is not publicly traded and does not operate as a bank. This private status may appeal to traders looking for a specialized brokerage experience without the added intricacies of banking services.
On the other hand, FinecoBank, established in 1999, not only functions as a bank but is also publicly traded, adding another layer of accountability to its operations. With a high Trust Score of 94 from ForexBrokers.com, FinecoBank also holds two Tier-1 licenses, indicating its strong regulatory position. This combination of banking and brokerage services, combined with its high level of public scrutiny, may appeal to users seeking a more integrated financial service provider.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Year Founded | 2007 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing IC Markets and FinecoBank in terms of commissions and fees, IC Markets stands out with its competitive pricing and flexible account options. With an exceptional five-star rating, IC Markets ranks #5 out of 62 brokers in the Commissions and Fees category. This broker offers a range of account types, including the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. Traders can choose between MetaTrader and cTrader platforms, with the latter offering slightly lower commissions at $6.00 per round turn for every 100,000 units, compared to $7.00 for MetaTrader. IC Markets boasts effective spreads as low as 0.62 pips, making it a top choice for low-cost forex trading.
FinecoBank, on the other hand, provides limited information on its average spreads for forex and CFD trading, which makes it challenging to gauge its overall costs accurately. While the bank lists EUR/USD spreads of 1 pip and 0.8 pips, these figures lack accompanying data to confirm their average status. Consequently, FinecoBank earns a 3.5-star rating and ranks #50 out of 62 brokers in the Commissions and Fees category. It does, however, appear to offer more favorable spreads for index CFDs, which may be attractive to some traders.
In summary, IC Markets delivers attractive trading conditions with its low spreads and diverse account options, backed by high ratings and accolades. FinecoBank, while offering potentially lower spreads on certain instruments, struggles with transparency, resulting in a less competitive standing overall.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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.
IC Markets and FinecoBank both present solid options for traders interested in diverse investment opportunities. While both brokers provide access to forex trading as CFDs or spot contracts, IC Markets offers slightly more forex pairs with 61 options compared to FinecoBank's 54. When it comes to tradeable symbols, FinecoBank leads with a broad selection of 9,770, overshadowing IC Markets’ 3,583 options. Additionally, FinecoBank permits clients to invest in exchange-traded securities on U.S. exchanges, enabling the purchase of companies like Apple. In contrast, IC Markets doesn’t offer this feature, although it does allow trading securities on international exchanges.
In terms of extra features, IC Markets stands out by offering copy trading, which FinecoBank does not. However, neither broker provides the option to buy actual (delivered) cryptocurrencies, though IC Markets offers cryptocurrency derivatives. Both brokers share the same rating of 4.5 stars for their range of investments, but FinecoBank holds a higher ranking, seated at number 16 among 62 brokers by ForexBrokers.com, while IC Markets is ranked at number 25. Each broker offers unique features that cater to different trading preferences and needs, positioning them as competitive choices for investors seeking a broad array of trading options.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 9770 |
| Forex Pairs (Total) | 61 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | 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.
IC Markets and FinecoBank offer traders a range of platforms and tools, each with its own strengths. IC Markets provides a simulated trading experience with a free demo account, helping new traders practice without financial risk. While it doesn't have a proprietary platform, it supports familiar names like MetaTrader 4 and MetaTrader 5. Traders can access platforms via desktop downloads or web-based interfaces and take advantage of copy trading through ZuluTrade. With 15 drawing tools and the ability to trade directly from stock charts, IC Markets is well-equipped for technical analysis enthusiasts.
In contrast, FinecoBank offers a proprietary trading platform, giving traders a unique experience tailored to the broker's design. Although it lacks a demo account, copy trading, and MetaTrader support, it does provide both desktop and web-based trading options. FinecoBank may appeal to those looking for a more bespoke trading environment. For charting, FinecoBank offers seven drawing tools, which are fewer than IC Markets, and it does not allow trading directly from charts. Both brokers receive a four-star rating for their platforms and tools, with IC Markets ranked slightly higher at #16 compared to FinecoBank's #18 by ForexBrokers.com.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IC Markets and FinecoBank offer comprehensive platforms for iPhone and Android users. Both brokers allow users to receive stock and forex price alerts, providing essential updates on market movements. However, neither app offers the feature of watchlist symbol syncing, meaning that changes in a watchlist won’t automatically reflect between mobile devices and online accounts. That said, IC Markets shines with its offering of 30 technical studies for chart analysis compared to FinecoBank's six. It also allows users to draw trendlines and automatically saves chart drawings, features that FinecoBank's app lacks.
Both platforms allow users to view charts in different time frames, such as daily or weekly, which enables traders to analyze market trends over varying periods. IC Markets further enhances the trading experience by offering the ability to create watchlists with real-time quotes, a feature FinecoBank does not have. Despite these differences, both brokers have a respectable four-star rating for their mobile trading apps. In terms of rankings by ForexBrokers.com, IC Markets holds a higher position at #22 while FinecoBank is ranked #42 out of 62 brokers, indicating a noticeable edge in user preference and features offered.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
IC Markets and FinecoBank both offer valuable market research tools, yet there are notable differences that traders should consider. IC Markets stands out by providing daily market commentary and offering forex news from top-ranked sources such as Bloomberg and Reuters. It also includes technical analysis tools from reputable companies like Autochartist and Trading Central. Additionally, IC Markets equips traders with a sentiment-based trading tool, providing insights into long and short positions across different currency pairs. Both platforms feature an economic calendar to keep traders informed of global economic events, though IC Markets outshines FinecoBank with specific additional features.
While FinecoBank matches IC Markets in the quality of forex news and economic calendar provisions, it does not offer the same breadth of technical analysis tools and sentiment indicators. This differential is reflective in the ratings, where both brokers score 4 stars out of 5 for research. Despite this parity in ratings, IC Markets is ranked higher at #23 compared to FinecoBank's #33 position by ForexBrokers.com. This indicates a slight advantage for IC Markets in offerings and trader satisfaction regarding research tools.
| Feature |
IC Markets
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | 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, IC Markets and FinecoBank offer a variety of options, though there are notable differences between the two. IC Markets stands out with a comprehensive range of educational materials, including at least 10 resources dedicated to forex and CFDs. They also provide online webinars monthly, which can help beginners and experienced traders alike. Furthermore, IC Markets offers access to a searchable archive of past webinars, allowing users to revisit previous lessons at their convenience. FinecoBank, while offering monthly educational webinars, does not provide access to archived sessions. Both brokers cater to beginners with a minimum of 10 educational videos, though IC Markets expands on this by also providing at least 10 advanced videos for traders looking to deepen their knowledge. Additionally, both brokers feature an investor dictionary packed with over 50 investing terms, providing essential definitions to help beginners understand the jargon.
Despite the similarities in some offerings, these distinctions contribute to the brokers being rated similarly for educational resources, with both receiving a rating of 4 out of 5 stars. However, the difference in rankings by ForexBrokers.com highlights the contrast in their overall educational value, with IC Markets positioned at #16 and FinecoBank at #49 out of 62 brokers. This suggests that while FinecoBank may be adequate for those seeking basic educational content, IC Markets may offer a more extensive suite of resources for those who want to dive deeper into trading education, making it an appealing choice for beginners aiming to enhance their trading skills comprehensively.
| Feature |
IC Markets
|
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 IC Markets is better than FinecoBank. IC Markets finished with an overall rank of #20, while FinecoBank finished with an overall rank of #25.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 94 |
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In comparing online brokers, IC Markets allows users to invest in cryptocurrency derivatives but does not support buying actual cryptocurrencies, while FinecoBank offers neither real cryptocurrencies nor cryptocurrency derivatives.
When comparing online brokers IC Markets and FinecoBank, IC Markets allows account deposits and withdrawals through PayPal, Skrill, Visa, Mastercard, and bank wires but does not support ACH or SEPA transfers, whereas FinecoBank provides support for ACH and SEPA transfers as well as bank wires but does not offer options like PayPal, Skrill, Visa, or Mastercard for transactions.
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 | IC Markets | FinecoBank | |
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| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FinecoBank Review |
| Broker Screenshots | IC Markets | FinecoBank | |
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| Regulation | IC Markets | FinecoBank | |
|---|---|---|---|
| Trust Score | 84 | 94 | |
| Year Founded | 2007 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| 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 | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | 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) | IC Markets | FinecoBank | |
|---|---|---|---|
| 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 | IC Markets | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 9770 | |
| Forex Pairs (Total) | 61 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | No |
| Funding | IC Markets | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | Yes |
| Trading Platforms | IC Markets | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | FinecoBank Review |
| Overall | IC Markets | FinecoBank | |
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| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FinecoBank Review |
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