Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs iFOREX, 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.
FinecoBank, founded in 1999, distinguishes itself as a publicly traded financial institution with banking operations. This online broker is highly trusted, achieving a Trust Score of 94 out of 99 from ForexBrokers.com, and holds two Tier-1 licenses that highlight its strong regulatory standing. As a bank, FinecoBank's listing on a stock exchange also reinforces its transparency and regulatory compliance, making it a reliable choice for investors seeking a stable platform.
On the other hand, iFOREX was established in 1996 and operates solely as a brokerage firm. It is not publicly traded, and it has a ForexBrokers.com Trust Score of 75 out of 99, placing it in the average risk category. With only one Tier-1 license, iFOREX's regulatory credentials are not as comprehensive as those of FinecoBank. Potential users might consider its longer market presence but should also weigh its trust rating and lack of public trading status when evaluating its overall trustworthiness.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Year Founded | 1999 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing online brokers for their commissions and fees, FinecoBank and iFOREX present distinct considerations. FinecoBank does not provide average spread data for forex and CFD trading, making it challenging to determine precise trading costs. It lists a spread of 1 pip for EUR/USD, which is higher than the average spread offered by many forex brokers. Additionally, FinecoBank mentions a spread of 0.8 pips but does not clarify if this is an average or for which period it applies. However, it seems FinecoBank may provide lower spreads on index CFDs. For its commissions and fees, FinecoBank earns a rating of 3.5 out of 5 stars and is ranked #51 out of 63 brokers by ForexBrokers.com.
Similarly, iFOREX does not offer average spread data, which can make it difficult for traders to accurately compare potential costs. With respect to its commissions and fees, iFOREX receives a slightly lower rating of 3 out of 5 stars. When ranked among its peers by ForexBrokers.com, iFOREX stands at #61 out of 63 brokers, indicating that other brokers may offer more competitive pricing structures.
Ultimately, both FinecoBank and iFOREX could benefit from increased transparency regarding their trading costs to better assist potential clients in making informed decisions. While FinecoBank has a marginally higher rating and ranking for commissions and fees, traders seeking detailed information on pricing may find it beneficial to continue exploring other options.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing online brokers FinecoBank and iFOREX for their range of available investments, investors will find notable differences in their offerings. FinecoBank provides a substantial 9,770 tradeable symbols, allowing clients to access a diverse array of investment options. Their services include the ability to trade 54 forex pairs as CFDs or spot contracts and purchase exchange-traded securities on both U.S. and international exchanges. This means that investors can directly buy shares in global companies like Apple and Vodafone. On the other hand, iFOREX offers a more limited selection with 750 tradeable symbols and focuses on forex pairs, offering 88 options in this segment. However, they uniquely provide the opportunity to trade cryptocurrency derivatives, which might appeal to digital currency enthusiasts.
Despite both brokers not supporting copy trading or the purchase of actual or CFD cryptocurrencies, their rankings and ratings reflect their differences. FinecoBank stands out with a 4.5-star rating for its range of investments and is ranked 16th out of 63 brokers on ForexBrokers.com for this category. In contrast, iFOREX holds a 3.5-star rating and is ranked 41st, indicating a narrower focus yet some appeal to those interested in specialized trading like cryptocurrency derivatives. Ultimately, the choice between these brokers may come down to whether investors prioritize a wider range of conventional investments or niche opportunities like digital asset derivatives.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 750 |
| Forex Pairs (Total) | 54 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | Yes |
| 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 FinecoBank and iFOREX in terms of trading platforms and tools, there are several key distinctions to note. FinecoBank offers a proprietary platform available as a Windows-based desktop download and a web-based interface, catering to both traditional and modern traders. However, it does not support copy trading or the popular MetaTrader platforms. FinecoBank provides seven drawing tools for charting, but lacks the capability to trade directly from stock charts or comprehensive watch list functionalities. Rated highly, FinecoBank demonstrates its strength with a 4-star rating and an impressive position at #18 out of 63 brokers in the Trading Platforms and Tools category on ForexBrokers.com.
iFOREX also features a proprietary platform, but it is limited to a web-based version without a downloadable desktop option for Windows users. While it, too, doesn't offer copy trading or MetaTrader options, it shines with 25 drawing tools and the ability for users to trade directly from stock charts. iFOREX enhances traders' experience with watch lists that can display nine columns, allowing for enhanced data analysis. Despite sharing a 4-star rating for its trading platforms and tools, iFOREX is ranked lower, placing at #54 out of 63 brokers, according to ForexBrokers.com. Both platforms provide unique tools, although FinecoBank’s offerings have been ranked more favorably overall.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | No | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 57 |
| Charting - Drawing Tools (Total) | 7 | 25 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FinecoBank and iFOREX offer applications for iPhone and Android devices, making them accessible for users with different smartphones. FinecoBank stands out by providing stock or forex price alerts, a feature not available with iFOREX. Despite both brokers lacking the capability for watchlist symbol syncing, FinecoBank's mobile app supports viewing multiple time frames, allowing for more detailed chart analysis compared to iFOREX. However, neither platform offers the ability to draw trendlines or auto-save drawings on charts, and both lack real-time quote watchlists.
In terms of technical tools, FinecoBank provides six technical studies for charting, although iFOREX does not specify its offerings in this area. Despite these differences, both apps are rated 4 stars for their mobile trading experiences. However, when ranked by ForexBrokers.com, FinecoBank is placed higher at number 42 out of 63 brokers, while iFOREX sits further down the list at number 55. This suggests that while both platforms offer solid mobile trading solutions, FinecoBank may provide a slightly more advantageous experience for traders looking for specific features such as price alerts and the ability to analyze multiple time frames.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | No |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and iFOREX in terms of market research offerings, each online broker presents distinct features suited to different trading preferences. FinecoBank offers forex news from top-tier sources such as Bloomberg and Reuters, along with an economic calendar to keep traders informed on global events. However, it lacks daily market commentary and various technical analysis tools. In contrast, iFOREX provides daily market commentary and access to Trading Central's technical analytics, alongside a unique sentiment-based trading tool that offers insights into the ratio of long and short positions across currency pairs. Yet, iFOREX does not offer news from prominent financial news providers like Bloomberg and Reuters. Both brokers do not include research tools from Autochartist, TipRanks, or Acuity Trading.
Overall, FinecoBank receives a slightly better rating for its research capabilities with a 4.0-star score compared to iFOREX’s 3.5 stars. FinecoBank ranks 33rd among 63 brokers in the Research category, standing higher than iFOREX, which ranks 48th. This suggests FinecoBank may be more suitable for traders seeking news updates from respected sources, whereas iFOREX might appeal to those who value insights from tools like technical analytics and sentiment analysis. Both brokers offer an economic calendar, providing traders with essential updates on upcoming global news events.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | 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 FinecoBank and iFOREX, several differences emerge. FinecoBank stands out by hosting monthly online educational client webinars, a valuable resource for beginners looking for regular engagement and live learning experiences. In contrast, iFOREX doesn’t offer such webinars, which might be a missed opportunity for novices who thrive on interactive sessions. Both brokers provide at least ten educational videos geared towards beginners, ensuring that newcomers have access to fundamental trading knowledge in a format that can be consumed at their own pace. However, neither FinecoBank nor iFOREX provides a collection of archived webinars, or ten or more resources specifically focused on forex and CFDs education.
FinecoBank also scores a point for offering an investor dictionary with over 50 investing terms, a handy tool for demystifying trading jargon for newcomers. iFOREX lacks this feature, which could be a setback for beginners trying to get a grip on the industry-specific language. In terms of ratings and rank, FinecoBank takes a slight lead with a 4.0-star rating compared to iFOREX's 3.5 stars in the education category. This difference in rating and the #49 rank for FinecoBank versus the #53 rank for iFOREX highlights FinecoBank’s commitment to nurturing new traders with a more structured educational framework, even though neither platform offers extensive materials for advanced traders. Overall, FinecoBank might appeal more to those just starting, thanks to its webinars and extensive beginner video library, while iFOREX provides a more modest educational offering.
| Feature |
FinecoBank
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FinecoBank is better than iFOREX. FinecoBank finished with an overall rank of #25, while iFOREX finished with an overall rank of #52.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 75 |
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FinecoBank does not offer the ability to buy actual delivered cryptocurrency or cryptocurrency derivatives, while iFOREX provides options for trading cryptocurrency derivatives, but not actual delivered cryptocurrency.
FinecoBank supports ACH or SEPA transfers and bank wires for depositing and withdrawing funds, whereas iFOREX offers PayPal, Skrill, Visa or Mastercard, and bank wires, giving it a wider range of online payment options for account 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 | FinecoBank | iFOREX | |
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| Trust Score | 94 | 75 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
| Broker Screenshots | FinecoBank | iFOREX | |
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| Regulation | FinecoBank | iFOREX | |
|---|---|---|---|
| Trust Score | 94 | 75 | |
| Year Founded | 1999 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | 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) | FinecoBank | iFOREX | |
|---|---|---|---|
| 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 | FinecoBank | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 750 | |
| Forex Pairs (Total) | 54 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | Yes | |
| 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 | FinecoBank | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | No | No | |
| Alerts - Basic Fields | No | No | |
| Watchlists - Total Fields | N/A | 9 | |
| Charting - Indicators / Studies (Total) | 37 | 57 | |
| Charting - Drawing Tools (Total) | 7 | 25 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FinecoBank | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | No | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FinecoBank | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FinecoBank | iFOREX | |
|---|---|---|---|
| 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 | FinecoBank Review |
| Overall | FinecoBank | iFOREX | |
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| Trust Score | 94 | 75 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
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