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 FinecoBank and iFOREX for their commissions and fees, both have unique considerations. FinecoBank does not provide average spread data for forex and CFD trading, which makes it challenging to accurately gauge its trading costs. The broker lists a spread of 1 pip for the EUR/USD, which is higher than the average spread offered by many forex brokers. Fineco also mentions a spread of 0.8 pips for index CFDs but does not indicate whether these figures are average values, nor is there a specified date range. Despite this, FinecoBank seems to offer slightly lower spreads on its index CFDs compared to the competition.
Similarly, iFOREX does not make its average spread data available, leaving potential traders without a concrete understanding of possible costs. When it comes to ratings, FinecoBank receives a rating of 3.5 stars out of five for its commissions and fees, while iFOREX is rated slightly lower, scoring 3 stars. These ratings offer a quick insight into how each broker stands in terms of cost transparency and fees according to user reviews and expert opinions.
In the larger context of the brokerage landscape, FinecoBank is ranked 50th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com. In contrast, iFOREX is positioned lower, at 60th out of the same 62 brokers. This ranking helps potential traders understand each broker’s competitiveness in terms of pricing structure and may influence their decision based on how notably each broker’s costs stack up against other options in the market.
| 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 the range of investments offered by FinecoBank and iFOREX, FinecoBank stands out with a significantly larger selection of tradable symbols, boasting 9,770 options compared to iFOREX's 750. Both brokers offer forex trading as a CFD or spot contract, but iFOREX has an edge in forex pairs with 88, while FinecoBank offers 54. Though iFOREX may attract forex traders seeking more currency pairs, FinecoBank provides the advantage of trading actual exchange-traded securities on U.S. and international exchanges, a feature not available with iFOREX. For example, clients can purchase shares from major companies like Apple on FinecoBank, whereas iFOREX does not provide this option.
In terms of innovation, iFOREX offers cryptocurrency derivatives, which FinecoBank does not. However, neither broker allows the purchase of actual cryptocurrency or supports copy trading. Based on a 5-star rating system, FinecoBank scores higher with 4.5 stars for its range of investments, compared to iFOREX’s 3.5 stars. This higher rating is reflected in FinecoBank's superior ranking, positioned at 16th place amongst 62 brokers for range of investments, while iFOREX is ranked 41st, according to ForexBrokers.com. Overall, FinecoBank tends to provide a broader and more diverse investment portfolio, especially for traders interested in securities on multiple exchanges.
| 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 for their trading platforms and tools, both brokers stand out with their own in-house developed platforms. FinecoBank offers a Windows-based desktop download platform, providing users who prefer a downloadable program with a reliable option, whereas iFOREX does not. Both brokers offer web-based platforms for convenient browser access, catering to traders who enjoy the flexibility of trading online without downloads. Neither FinecoBank nor iFOREX provides simulated trading accounts, leaving traders without a virtual demo option for practice.
While FinecoBank is appreciated for its technical prowess, offering seven drawing tools for charting, it lacks the ability to trade directly from a stock chart—an option available with iFOREX, which also offers a robust 25 drawing tools for charting. iFOREX does provide a detailed watch list experience with nine fields for personalization. Neither platform supports popular services like MetaTrader 4, MetaTrader 5, or copy trading options like DupliTrade or ZuluTrade. Despite these gaps, both brokers earn a respectable rating of four stars for their trading platforms and tools, with FinecoBank ranking notably higher at #17 compared to iFOREX's #54 among 62 brokers, according to ForexBrokers.com.
| 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.
Both FinecoBank and iFOREX provide mobile apps for seamless trading on iPhone and Android devices, catering to the needs of traders on the go. FinecoBank offers valuable features such as stock and forex price alerts, as well as access to multiple time frames for chart analysis within its app. However, it lacks the capability of watchlist symbol syncing and the ability to draw trendlines on charts. With a collection of six technical studies available for charting, FinecoBank supports traders in analyzing market trends effectively.
While iFOREX also delivers trading apps for both iPhone and Android users, it does not offer stock or forex price alerts and the capacity to view different time frames on charts. Both platforms fall short in providing watchlist symbol syncing and drawing trendlines on charts. Despite these limitations, both brokers achieve a satisfactory rating of 4 stars for their mobile trading apps. However, in terms of overall ranking among 62 brokers, FinecoBank places higher at #42 compared to iFOREX’s #55, indicating a slightly better performance in the mobile trading experience.
| 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 for their market research offerings, each platform presents a unique set of advantages. iFOREX stands out for its daily market commentary and provides tools from Trading Central along with sentiment-based trading features. These elements make it appealing to traders who prioritize ongoing insights and a deep dive into market sentiment. However, despite its strengths, iFOREX does not incorporate forex news from top-tier sources such as Bloomberg or Reuters, which could be a significant consideration for news-focused traders.
FinecoBank, on the other hand, excels in providing forex news from renowned sources, ensuring users are kept informed with trusted information. The broker also offers a comprehensive economic calendar, aligning with iFOREX on this front. However, FinecoBank lacks some advanced analysis tools like Autochartist or sentiment tools, which may limit some trading strategies. Despite these gaps, FinecoBank's research capabilities are highly rated at 4 stars, ranking it at #33 out of 62 brokers according to ForexBrokers.com, compared to iFOREX's 3.5-star rating and #48 ranking. These distinctions can help traders decide which broker's research facilities best fit their trading needs.
| 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 available to beginners from FinecoBank and iFOREX, both brokers show strengths and weaknesses. FinecoBank hosts monthly online webinars to support beginner traders, offering direct interaction and learning opportunities, a feature iFOREX does not provide. While neither broker has a searchable archive of these webinars or a significant collection of articles and videos focused on forex or CFDs, they both offer over ten beginner educational videos to help new traders understand the basics of trading. However, for more advanced traders, neither platform provides a substantial selection of in-depth educational content.
FinecoBank distinguishes itself with an investor dictionary containing over 50 investing term definitions, whereas iFOREX lacks this resource. This comprehensive glossary can help new investors familiarize themselves with trading jargon. Despite some gaps, FinecoBank earns a slightly higher rating of four stars for education compared to iFOREX's 3.5 stars, reflecting its enhanced offerings for beginners. In terms of educational rank by ForexBrokers.com, FinecoBank stands at 49 out of 62 brokers, marginally outperforming iFOREX, which is ranked at 53. This indicates that while FinecoBank has a slight edge in educational resources for newcomers, both platforms have areas that could benefit from improvement.
| 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 62 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
|
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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