Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, and FinecoBank, founded in 1999, both stand as publicly traded entities, yet they differ significantly in their operational structures. While Interactive Brokers operates solely as an online broker, FinecoBank combines the roles of a bank and a broker. In terms of trust and regulatory standing, Interactive Brokers leads with an impressive Trust Score rating of 99 out of 99 from ForexBrokers.com, making it a highly trusted choice. This rating is backed by its possession of 9 Tier-1 licenses, considered the highest level of trust, as well as 2 additional Tier-2 licenses.
FinecoBank, though not as highly rated as Interactive Brokers, still holds a commendable Trust Score of 94. It operates with 2 Tier-1 licenses, indicating a strong level of trust, though no Tier-2 credentials. These ratings underscore the confidence regulators place in both institutions, with Interactive Brokers having a slight edge in terms of regulatory approvals and overall trustworthiness. Whether prioritizing banking services alongside brokerage or focusing solely on trading capabilities can guide potential clients when considering these two distinct options.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Year Founded | 1977 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers is highly rated for its competitive commissions and fees, receiving 5 out of 5 stars and ranking 2nd out of 62 brokers according to ForexBrokers.com. While the broker does not publish its average spreads for forex, data from Q3 2024 shows an average spread of 0.59 pips for the EUR/USD currency pair when factoring in commissions. The broker has a tiered structure for forex commissions, starting at 0.2 basis points of the U.S. dollar trade value with a minimum of $2 per order. Interactive Brokers also offers discounts for active traders who meet specific monthly volume thresholds. Despite the reasonable fees, the minimum charge per trade can add to costs for those trading in smaller quantities.
In contrast, FinecoBank earns a 3.5-star rating and ranks 50th out of 62 brokers for its commissions and fees. The bank does not disclose its average spreads, making it challenging to evaluate its overall trading costs accurately. They advertise a spread of 1 pip for the EUR/USD, which is noticeably higher than what is typically offered by competitive brokers. While there is a lower spread of 0.8 pips listed, the absence of average values or date ranges for these figures can leave potential clients uncertain about the real costs involved in trading with FinecoBank.
For traders deciding between these two brokers, Interactive Brokers offers a more transparent and potentially lower-cost structure, especially for those who trade in larger volumes. FinecoBank, on the other hand, offers higher listed spreads that are harder to quantify due to the lack of published average data, potentially resulting in higher costs for forex trading.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and FinecoBank both present a notable selection of investment options, catering to diverse investment preferences. Interactive Brokers boasts an impressive array of over 8,500 tradeable symbols, including 90 forex pairs. In contrast, FinecoBank offers a broader spectrum of tradeable symbols, totaling 9,770, but with fewer forex pairs, optioning 54. Both platforms allow trading of U.S. and international securities, giving investors the flexibility to invest in globally recognized companies like Apple and Vodafone. However, when it comes to cryptocurrency, Interactive Brokers extends its edge by providing access to both actual cryptocurrencies and derivatives, while FinecoBank doesn't offer actual cryptocurrency investments or derivatives. Neither platform supports copy trading, which may influence users who prioritize community-driven strategies.
Interactive Brokers' comprehensive range of investment offerings has earned it a 5-star rating and the top spot on ForexBrokers.com’s list, assessing 62 brokers for their range of investments. On the other hand, FinecoBank follows closely with a 4.5-star rating and ranks 16th in the same category. These rankings highlight Interactive Brokers' extensive investment provisions, although FinecoBank's wide array of symbols should not be overlooked, particularly by investors who prioritize diversity in their trading options.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 9770 |
| Forex Pairs (Total) | 90 | 54 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | 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 the trading platforms and tools of Interactive Brokers and FinecoBank, it's clear that both offer proprietary platforms developed in-house, alongside Windows-based desktop and web-based trading options. However, Interactive Brokers distinguishes itself with a simulated (paper) trading feature, allowing users to try out their platform without real financial risk, a feature FinecoBank lacks. While neither broker supports popular tools like MetaTrader 4 and 5, or copy trading services, Interactive Brokers stands out by offering the ability to trade directly from their stock charts, a convenience not available with FinecoBank.
In terms of charting tools, Interactive Brokers provides a wider arsenal of 85 drawing tools compared to FinecoBank’s 7. Also, Interactive Brokers offers an extensive range of 659 fields for watch lists, providing a customizable experience that FinecoBank doesn’t match. Rated 5 stars for trading platforms and tools, Interactive Brokers holds the 3rd spot out of 62 brokers, reflecting its high level of customer satisfaction and functionality. On the other hand, FinecoBank, with a 4-star rating, is positioned at 18th and while it is still a competitive choice, it doesn't quite reach the accolades achieved by Interactive Brokers.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| 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) | 155 | 37 |
| Charting - Drawing Tools (Total) | 85 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 659 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and FinecoBank offer trading apps for iPhone and Android users, ensuring convenience for traders on the go. Both platforms provide stock and forex price alerts, although Interactive Brokers stands out by offering watchlist symbol syncing between the mobile app and online account. This feature ensures changes made in one platform reflect on the other, a capability not available with FinecoBank. When it comes to charting capabilities, Interactive Brokers impresses with 97 technical studies and a trendline drawing feature, while FinecoBank offers only six technical studies and lacks the trendline drawing option. Both apps provide multiple time frame views on charts, yet neither automatically saves chart drawings.
Creating a watchlist with real-time quotes is a feature exclusive to Interactive Brokers, offering more up-to-the-minute data compared to FinecoBank. The mobile trading experience with Interactive Brokers is highly rated, receiving a five-star rating, while FinecoBank follows with four stars. In terms of rankings by ForexBrokers.com, Interactive Brokers excels at #4 out of 62 brokers, while FinecoBank is placed at #42, reflecting a more polished and advanced mobile app experience with Interactive Brokers.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
In comparing Interactive Brokers and FinecoBank for market research capabilities, Interactive Brokers tends to stand out with several distinct advantages. It offers daily market commentary and provides a broader range of research tools, including those from Trading Central and TipRanks, which are not available through FinecoBank. Additionally, Interactive Brokers features sentiment-based trading tools that allow traders to gauge investor positioning, a benefit absent from FinecoBank's offerings. Both brokers do provide forex news sourced from reputable outlets like Bloomberg and Reuters, as well as an economic calendar to keep traders informed about global events.
Interactive Brokers excels in its market research offerings, earning a 5-star rating and ranking third out of 62 brokers according to ForexBrokers.com. In contrast, FinecoBank, while still capable, receives a slightly lower rating of 4.0 stars and ranks 33rd in the same category. Interactive Brokers' comprehensive suite of tools and resources caters well to traders seeking in-depth analysis and market insights, making it a preferred choice for those prioritizing research capabilities in their trading platform.
| Feature |
Interactive Brokers
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, Interactive Brokers stands out with a wealth of materials focused on forex and CFDs. The platform provides over 10 pieces of educational content, including articles and videos, specifically designed to introduce these topics. Additionally, Interactive Brokers hosts monthly educational webinars and maintains a searchable archive of past sessions for convenient access. Beginners can also benefit from at least 10 introductory videos that cover trading basics. Furthermore, the brokerage offers an investor dictionary with definitions for more than 50 key investing terms. Interactive Brokers has earned a 5-star rating from ForexBrokers.com for its comprehensive educational offerings, securing the #3 spot out of 62 brokers in the Education category.
FinecoBank also offers valuable educational resources, particularly for newcomers to trading. The platform provides a series of beginner videos, imparting crucial knowledge about trading essentials. While FinecoBank does host monthly educational webinars, it does not currently maintain an archive of these sessions for future reference. Additionally, FinecoBank doesn't provide focused educational content on forex or CFDs. Despite this, FinecoBank offers an investor dictionary, ensuring clients have access to clear definitions for over 50 investing terms. Rated 4 stars for Education, FinecoBank is ranked #49 out of 62 brokers by ForexBrokers.com, showcasing its efforts to support beginner traders but highlighting areas for potential growth in educational depth.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than FinecoBank. Interactive Brokers finished with an overall rank of #2, while FinecoBank finished with an overall rank of #25.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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FinecoBank
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|---|---|---|
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| Trust Score | 99 | 94 |
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Interactive Brokers provides the capability to purchase actual delivered cryptocurrencies and offers cryptocurrency derivatives, whereas FinecoBank does not support the purchase of actual cryptocurrencies or cryptocurrency derivatives.
Interactive Brokers and FinecoBank both support ACH and SEPA transfers as well as bank wires for depositing or withdrawing funds, while neither offers options through PayPal, Skrill, Visa, or Mastercard.
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 | Interactive Brokers | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FinecoBank Review |
| Broker Screenshots | Interactive Brokers | FinecoBank | |
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| Regulation | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Trust Score | 99 | 94 | |
| Year Founded | 1977 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 9770 | |
| Forex Pairs (Total) | 90 | 54 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | No |
| Funding | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| 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 | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 659 | N/A | |
| Charting - Indicators / Studies (Total) | 155 | 37 | |
| Charting - Drawing Tools (Total) | 85 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | FinecoBank Review |
| Overall | Interactive Brokers | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FinecoBank Review |
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