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 it comes to commissions and fees, IC Markets stands out as a top contender among economical forex brokers. With a stellar rating of 5 stars, IC Markets is ranked #5 out of 63 brokers according to ForexBrokers.com for the Commissions & Fees category. The brokerage offers three account types: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The effective spreads on these accounts are particularly impressive, with the average spread on the EUR/USD pair listed as low as 0.02 pips. For those using the cTrader platform, the all-in cost comes to 0.62 pips including commissions, while the MetaTrader option results in a slightly higher but still competitive 0.72 pips. The Standard account, however, is entirely commission-free, boasting an average spread of 0.62 pips. Additionally, active traders benefit from discounts if they trade over 100 standard lots per month, making IC Markets a great choice for high-volume traders.
FinecoBank, on the other hand, presents less clarity around its trading costs for forex and CFDs. With a rating of 3.5 stars and a #51 ranking out of 63 brokers in the same category, it offers a spread of 1 pip for the EUR/USD, which is somewhat higher than IC Markets' averages. While FinecoBank does list a spread of 0.8 pips, these figures are not published as averages, and there is a lack of transparency regarding the date range for these spreads. Despite these higher costs for forex trading, FinecoBank seems to offer more competitive pricing on its index CFDs.
In essence, if you are prioritizing low trading costs and value transparency, IC Markets is a compelling choice with its award-winning fee structure. FinecoBank, although a solid option for other financial services, may not offer the best value for forex and CFD trading costs compared to leading low-cost brokers like IC Markets.
| 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.
When examining the investment offerings of IC Markets compared to FinecoBank, both platforms provide opportunities for forex trading via contracts for difference (CFDs) or spot contracts. However, IC Markets boasts an impressive 3,583 tradeable symbols, surpassing FinecoBank's 9,770 options. Still, IC Markets offers a slightly wider variety of forex pairs, providing access to 61 pairs as opposed to FinecoBank's 54. Additionally, IC Markets supports copy trading, a feature that might attract traders looking to mirror the strategies of successful peers, whereas FinecoBank does not offer this feature. While neither platform allows for the purchase of actual cryptocurrency, IC Markets does provide access to cryptocurrency derivatives, setting it apart from FinecoBank in this area.
FinecoBank offers exchange-traded securities on U.S. exchanges, allowing traders to invest directly in famous stocks like Apple, a feature not available with IC Markets. Both brokers facilitate trading on international exchanges; however, the ability to purchase stocks directly is a noteworthy benefit of FinecoBank. Despite both brokers being awarded 4.5 stars for their range of investments, FinecoBank is noted for a higher ranking (16th) compared to IC Markets (25th) according to ForexBrokers.com. Each platform presents a unique combination of features, catering to different preferences and trading strategies, ensuring that traders have access to a diverse array of investment opportunities.
| 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.
When looking at online trading platforms, IC Markets and FinecoBank each have their unique strengths. IC Markets excels with its diverse offerings in trading tools like MetaTrader 4 and 5, as well as ZuluTrade, providing a range of options for traders seeking variety. Additionally, IC Markets allows for simulated trading through a free virtual demo account, which is an excellent feature for beginners to practice without financial risk. Both IC Markets and FinecoBank support Windows-based downloads and web-based platforms, but only IC Markets offers the ability to trade directly from stock charts and supports copy trading, which could be an advantage for those who enjoy a seamless integration of trading functions.
In contrast, FinecoBank prides itself on its proprietary platform developed in-house, ensuring tailored solutions for user needs. However, it lacks some of the more commonly used trading tools like MetaTrader and doesn’t offer a demo account, which might be a drawback for some users. FinecoBank provides a decent set of seven drawing tools compared to IC Markets' fifteen, indicating a more streamlined charting capability. Both platforms are rated four out of five stars for their trading tools, with IC Markets being ranked slightly higher at 16th place compared to FinecoBank at 18th, indicating a competitive edge in the overall trading platform experience.
| 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.
Both IC Markets and FinecoBank offer mobile trading apps for iPhone and Android users, complete with stock and forex price alerts. However, they differ in several key aspects. IC Markets provides more advanced charting capabilities with 30 technical studies available on its app compared to FinecoBank's six. IC Markets also allows users to draw trendlines on charts and supports syncing of watchlists across devices, though FinecoBank does not. Additionally, IC Markets’ app supports multiple time frame views and auto-saves chart drawings, ensuring a seamless experience for traders on the go.
Despite these differences, both apps are rated four stars for mobile trading. However, IC Markets ranks higher on ForexBrokers.com, coming in at #22 out of 63 brokers, while FinecoBank is positioned at #42. IC Markets’ higher ranking and additional features make it a more attractive option for traders seeking a comprehensive mobile trading experience.
| 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.
When comparing IC Markets and FinecoBank for online market research, you'll find that both offer a wealth of resources, but IC Markets stands out in a few key areas. IC Markets provides daily market commentary, giving you insights into the latest trends and market movements, while FinecoBank does not. Both brokers give access to forex news from top-tier sources like Bloomberg and Reuters, ensuring you're up-to-date with global financial information. However, IC Markets excels with additional research tools that FinecoBank lacks, offering services from Autochartist and Trading Central, which boost your trading analysis capabilities with technical tools and insights. IC Markets also features a sentiment-based trading tool to gauge market positions, unlike FinecoBank, enhancing your trading strategy with real-time data.
Both brokers supply an economic calendar to keep track of upcoming global news events. When it comes to research ratings, IC Markets and FinecoBank each earn an impressive four stars. Despite this, IC Markets ranks higher at 23rd out of 63 brokers as per ForexBrokers.com's assessment, compared to FinecoBank's 33rd position. This slight edge may influence your decision if advanced research tools and daily market insights play a crucial role in your trading experience. Overall, IC Markets shows a broader range of research tools, which could provide an advantage for traders looking for comprehensive market analysis.
| 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 comparing IC Markets and FinecoBank for educational resources aimed at beginners, there are noteworthy distinctions. IC Markets shines by offering a strong library of over 10 educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. FinecoBank, however, does not meet this benchmark. Both platforms provide monthly educational webinars, but only IC Markets grants access to a searchable archive of past sessions, allowing newcomers to learn at their own pace. Additionally, both brokers deliver at least 10 beginner-focused videos covering essential trading topics, making them accessible to those new to trading.
Looking at more advanced offerings, IC Markets also supports more experienced traders with over 10 advanced educational videos, while FinecoBank falls short in this aspect. Both brokers present an investor dictionary with definitions of over 50 investing terms, aiding in the understanding of crucial concepts. Ultimately, IC Markets is ranked 16th out of 63 brokers by ForexBrokers.com for education quality, and FinecoBank holds the 49th spot. Despite FinecoBank having a slightly higher education star rating of 4.0 compared to IC Markets' 4 stars, IC Markets offers a more comprehensive array of resources catering to both beginners and advanced traders.
| 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 63 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
|
FinecoBank
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 84 | 94 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IC Markets | FinecoBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FinecoBank Review |
| Broker Screenshots | IC Markets | FinecoBank | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FinecoBank Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill