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 stands out with its competitive pricing structure, particularly in forex trading. The broker charges commissions starting at 0.00002 of the U.S. dollar trade value, with a minimum of $2 per order. While this can become relatively expensive for smaller trades, it remains affordable for large volumes, and active traders can benefit from further discounts based on their trade volumes. Interactive Brokers aggregates prices from 17 major interbank forex dealers, offering commission-based pricing for a clear and transparent cost structure. Interactive Brokers holds a 5-star rating for commissions and fees and ranks #2 out of 63 brokers according to ForexBrokers.com.
In contrast, FinecoBank offers less clarity in their forex and CFD trading costs, as they do not publish average spreads. Their listed spreads for the EUR/USD pair, such as 1 pip, appear to be on the higher end compared to other brokers. While FinecoBank does indicate lower spreads on index CFDs, the lack of detailed information makes it challenging to gauge their overall cost-effectiveness. FinecoBank has a 3.5-star rating for commissions and fees and is ranked #51 out of 63 brokers by ForexBrokers.com.
When comparing the two, Interactive Brokers emerges as the preferable choice for cost-conscious traders who value transparent pricing and potential discounts for high trade volumes. FinecoBank, while offering some benefits like potentially lower spreads on certain indices, might not be as appealing for forex traders who prioritize low spreads and comprehensive cost information.
| 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.
When it comes to the range of available investments, both Interactive Brokers and FinecoBank cater to diverse trading needs, but there are some notable differences. Interactive Brokers provides access to a staggering 8,500 tradeable symbols and 90 forex pairs, while FinecoBank offers 9,770 tradeable symbols and 54 forex pairs. Both platforms allow investment in exchange-traded securities on U.S. and international exchanges, making them versatile choices for stock traders globally. However, while both only offer forex trading as CFDs, Interactive Brokers stands out with the option to buy actual cryptocurrencies, unlike FinecoBank, which does not provide this feature.
Interactive Brokers shines in the realm of investment range with a perfect 5-star rating from ForexBrokers.com and is ranked as the top out of 63 brokers in this category. In comparison, FinecoBank holds a commendable 4.5-star rating and is positioned as the 16th. Notably, neither platform offers copy trading, but Interactive Brokers still manages to attract more attention with its expansive offerings and higher rank, particularly appealing to those interested in a wider array of investment options, including cryptocurrency trading.
| 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 offered by Interactive Brokers and FinecoBank, you'll find notable differences and some similarities. Interactive Brokers provides a comprehensive set of features, including a free virtual demo account for simulated trading, a Windows-based desktop platform, and a web-based platform. They also boast an impressive array of 85 drawing tools for charting and 659 fields for watch lists, allowing users to organize and analyze data efficiently. Furthermore, users can trade directly from stock charts, enhancing the trading experience. These features contribute to Interactive Brokers' high rating of five stars for trading platforms and tools, placing them at the third position out of 63 brokers ranked by ForexBrokers.com.
FinecoBank, in comparison, also offers an in-house developed proprietary platform with both a Windows-based desktop and a web-based trading option. However, it lacks some advanced features, such as a virtual demo account for practice trading and the ability to trade directly from stock charts. FinecoBank provides only seven drawing tools for charting, which may limit some traders' analytical needs. Despite these limitations, FinecoBank earns a respectable four-star rating for its trading platforms and tools and is ranked 18th out of 63 brokers by ForexBrokers.com. Both brokers do not support popular platforms like MetaTrader 4 or 5, nor do they offer copy trading services.
| 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 provide mobile apps for iPhone and Android users, catering to the needs of traders on the go. While both platforms allow users to set up stock or forex price alerts, Interactive Brokers clearly excels when it comes to syncing watchlists between mobile and online accounts, a feature not available with FinecoBank. This syncing feature can be particularly useful for active traders who frequently switch between devices.
Charting capabilities add another layer of distinction between the two. Interactive Brokers offers an impressive 97 technical studies and supports drawing tools like trendlines, while FinecoBank provides just 6 technical studies with no drawing tools. Both apps support multiple time frames on charts, but only Interactive Brokers allows for real-time quote watchlist creation. These differences may contribute to Interactive Brokers’ higher mobile trading app rating of 5 stars, ranking it 4th among 63 brokers on ForexBrokers.com, compared to FinecoBank’s 4-star rating and 42nd place ranking.
| 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.
Interactive Brokers stands out in the realm of market research by providing valuable resources for traders. They offer daily market commentary, a significant advantage for staying informed about the fast-paced financial world. When it comes to forex news, both Interactive Brokers and FinecoBank deliver updates from top-tier sources such as Bloomberg, Reuters, and Dow Jones. However, Interactive Brokers takes the lead with additional offerings like tools from Trading Central for technical analysis and a sentiment-based trading tool that provides insights on market positions. They also provide access to market research from TipRanks and tools from Acuity Trading, further enriching their research suite.
On the other hand, FinecoBank, while offering access to high-quality forex news and maintaining an economic calendar, lacks several features available at Interactive Brokers. They do not provide daily market commentary, Trading Central tools, or research from companies like TipRanks and Acuity Trading. These differences underscore why Interactive Brokers is rated five stars for research, holds the third rank among 63 brokers in the research category, and surpasses FinecoBank's four-star rating and 33rd position. For investors seeking comprehensive market insights, Interactive Brokers clearly offers an edge over FinecoBank.
| 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.
Interactive Brokers offers a comprehensive suite of educational resources for beginners interested in forex and CFDs. They provide over ten educational pieces focusing on these subjects, including articles, videos, and webinars, making it easier for new investors to gain essential knowledge. Additionally, Interactive Brokers hosts online educational webinars for clients every month and maintains a searchable archive of recorded sessions for future reference. With over ten videos specifically designed for beginners, newcomers to trading can find ample resources to guide them through learning the basics and more advanced concepts.
On the other hand, FinecoBank offers a different educational experience for beginners. Although they conduct monthly online educational webinars similar to Interactive Brokers, they lack an accessible archive of past webinars, which may limit the ability to revisit the material. While FinecoBank also provides over ten introductory educational videos, their content for more experienced traders is not as extensive, offering fewer than ten advanced videos. Despite these differences, FinecoBank provides an investor dictionary with a wide range of terms, similar to Interactive Brokers. When evaluated by ForexBrokers.com, Interactive Brokers stands out with a higher education rating and ranking compared to FinecoBank, reflecting its greater emphasis on educational content for trading enthusiasts.
| 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 63 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 |
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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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