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.
When comparing IC Markets and FinecoBank for their trading platforms and tools, several key differences and similarities emerge. IC Markets provides users with a free virtual demo account, which is a great option for beginners to practice without using real money. FinecoBank, on the other hand, does not offer this feature. IC Markets relies on popular third-party platforms like MetaTrader 4 and MetaTrader 5, while FinecoBank offers its own proprietary platform built in-house, which may attract traders interested in a unique and integrated trading experience. Both brokers feature Windows-based desktop and web-based trading platforms, ensuring accessibility and convenience for all users.
IC Markets stands out with its support for copy trading and compatibility with ZuluTrade, whereas FinecoBank lacks these offerings. For traders focused on technical analysis, IC Markets provides 15 drawing tools for charting compared to FinecoBank's 7, and allows for direct trading from stock charts, a feature not available with FinecoBank. Both brokers are rated four out of five stars for their trading platforms and tools, with IC Markets ranked slightly higher at #16 compared to FinecoBank's #17 out of 62 brokers reviewed by ForexBrokers.com. This suggests a close competition with IC Markets having a slight edge due to its additional features aimed at enhancing the trading 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.
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.
When seeking comprehensive market research, IC Markets might present an edge over FinecoBank, especially for traders who value daily insights and a variety of analysis tools. IC Markets excels by providing daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, and utilizes advanced tools such as Autochartist and Trading Central for technical and fundamental analysis. Additionally, IC Markets offers a sentiment-based trading tool that reveals long and short positions for various instruments, alongside an economic calendar to track global events, ensuring traders are well-equipped to make informed decisions. FinecoBank, while also offering forex news from reputable sources and an economic calendar, does not feature the same range of analytical tools or daily commentary, which may limit the depth of insight available to traders.
Both IC Markets and FinecoBank hold a commendable rating of four stars for research-related offerings. However, IC Markets secures a higher position in the research category, ranked 23rd out of 62 brokers, as reported by ForexBrokers.com, compared to FinecoBank's 33rd position. For traders prioritizing detailed market analysis and a broader array of tools, IC Markets may serve as the superior option, offering a more enriched research experience.
| 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 helping beginners learn about forex and CFDs, IC Markets offers a wealth of resources. They provide more than ten educational materials including articles, videos, and archived webinars focused mainly on forex and CFDs, ensuring newbies have plenty to dive into. IC Markets also hosts monthly educational webinars accessible online, complemented by a searchable archive of past sessions that allow users to learn at their own pace. They go beyond basic education by offering more than ten advanced videos that tackle trading topics for seasoned traders, along with a comprehensive investor dictionary that breaks down over 50 key investing terms.
FinecoBank, on the other hand, holds its ground by providing monthly educational webinars and resources like beginner-focused videos and an extensive investor dictionary. However, FinecoBank does not offer ten or more educational pieces dedicated to forex and CFDs, nor do they maintain a searchable archive of past webinars. While both brokers aim to support newcomers, these differences in educational offerings are reflected in their rankings. IC Markets is positioned at #16 in the Education category by ForexBrokers.com, while FinecoBank is further behind at #49. Despite both receiving a four-star rating in education, the structured and plentiful educational content provided by IC Markets may present a more comprehensive learning path for beginners.
| 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 | |
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| 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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