Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs IronFX, 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.
Founded in 1999, FinecoBank stands as both a bank and a publicly traded company, reflecting its established presence in the financial market. It holds two Tier-1 licenses, contributing to a high Trust Score of 94 from ForexBrokers.com, categorizing it as highly trusted. As a longstanding financial institution, FinecoBank offers customers the reassurance of being governed by stringent regulatory standards.
IronFX, on the other hand, was founded in 2010 and operates exclusively as an online broker without a public listing on a stock exchange. Despite not being a bank, IronFX holds three Tier-1 licenses, achieving a Trust Score of 83. This places it in the trusted category according to ForexBrokers.com. Clients looking to trade with IronFX can be assured of its solid regulatory framework aimed at fostering trust and transparency.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing the commissions and fees of FinecoBank and IronFX, both brokers have their strengths and areas for improvement. FinecoBank doesn't provide average spread data for forex and CFD trading, which makes it challenging to gauge their exact trading costs. They claim a 1 pip spread for the EUR/USD pair, which seems higher than typical forex broker spreads, with another claim of a 0.8 pip spread. However, no average value or date range is provided. On the positive side, FinecoBank does offer lower spreads on its index CFDs.
IronFX appears to have pricing that's not quite up to par with industry averages, though it generally offers straightforward information. For their Standard variable spread account, the typical spread is listed as 1.8 pips, although no date range is specified. IronFX's zero fixed-spread account starts at zero but includes an $18 per lot commission, with spreads increasing to 3 pips overnight. This indicates some level of flexibility in their offerings, though traders might find better rates elsewhere.
In terms of ratings, FinecoBank scores 3.5 out of 5 stars for commissions and fees, ranking 51st out of 63 brokers according to ForexBrokers.com. IronFX fares slightly better with a 4-star rating, ranking 46th among the same 63 brokers. While both brokers have room to improve, particularly in transparency and competitive pricing, they provide various options that may appeal to different trading preferences.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 IronFX, it is apparent that both brokers provide opportunities in forex trading as CFDs or spot contracts. FinecoBank stands out with an impressive array of 9,770 tradeable symbols, significantly surpassing IronFX's 340 symbols. However, IronFX provides a slightly superior selection of 83 tradeable forex pairs compared to FinecoBank's 54 pairs. FinecoBank shines in the availability of exchange-traded securities on U.S. and international exchanges, allowing clients to directly invest in companies like Apple and Vodafone. IronFX does not offer this capability but does provide a path for cryptocurrency derivatives, which FinecoBank lacks. Additionally, IronFX offers a copy trading feature to follow other traders, a service FinecoBank does not provide.
In terms of overall range, FinecoBank receives a favorable rating of 4.5 stars compared to IronFX’s 3.5 stars, signaling a broader range of investment options for its clients. As such, FinecoBank ranks significantly higher in the Range of Investments category at #16 versus IronFX’s position at #51 according to ForexBrokers.com. This suggests that FinecoBank may be more suitable for investors looking to explore a wider array of markets and direct securities investment opportunities, while IronFX might cater better to those interested in a specialized focus on forex pairs and copy trading.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 340 |
| Forex Pairs (Total) | 54 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
FinecoBank and IronFX both offer various trading platforms and tools to cater to different traders, but they exhibit unique strengths in their offerings. FinecoBank stands out with its proprietary trading platform, which is developed in-house, offering a more tailored experience for its users. It also provides a Windows-based desktop platform and a web-based platform, ensuring traders can access their accounts from different devices. However, FinecoBank does not provide a virtual demo account for practice trading or support popular platforms like MetaTrader 4 or 5. Also missing from its toolkit is the capability for copy trading. FinecoBank's charting tools include 7 drawing options, but it lacks features like trading directly from charts, impacting its flexibility for chart-focused traders.
On the other hand, IronFX does not have its own exclusive trading platform, but it supports the widely-used MetaTrader 4, which many traders are familiar with. IronFX also excels in offering simulated trading through a free demo account, enabling newcomers to practice without financial risk. Moreover, IronFX includes a Windows-based desktop platform and a web-based platform, much like FinecoBank. In addition, IronFX offers copy trading, 15 drawing tools for charting, and the ability to trade directly from charts, potentially giving users a more dynamic trading environment. Despite these features, IronFX holds a slightly lower rating and ranking compared to FinecoBank, at 3.5 stars and a 61st position for its trading platforms and tools, respectively.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FinecoBank and IronFX cater to iPhone and Android users, ensuring traders can access their platforms on the go. They each provide features like stock and forex price alerts and support viewing multiple time frames on charts. However, FinecoBank falls short in offering real-time quotes watchlists and doesn't save chart drawings automatically, whereas IronFX covers those needs, enhancing user convenience. Both platforms lack watchlist symbol syncing capabilities, which could limit seamless account management across devices.
In terms of charting tools, FinecoBank lags with just six technical studies and lacks functionality for drawing trendlines, while IronFX users benefit from 30 technical studies and the ability to create trendlines. Despite these differences, FinecoBank scores higher overall in mobile app ratings with four stars compared to IronFX's 3.5 stars. Moreover, FinecoBank ranks 42nd in ForexBrokers.com's app category list, significantly surpassing IronFX's 62nd position, suggesting a slightly more favorable user experience for FinecoBank's mobile app users.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When considering market research capabilities, FinecoBank and IronFX each present a unique set of offerings. FinecoBank does not provide daily market commentary, while IronFX caters to traders needing frequent insights by offering daily updates. Both brokers deliver forex news sourced from reputable agencies like Bloomberg, Reuters, and Dow Jones, ensuring traders access critical financial updates. However, when it comes to advanced technical analysis tools, IronFX holds an edge with resources from Trading Central, unlike FinecoBank, which does not provide services from Autochartist or Trading Central. Both platforms lack sentiment-based tools and market research from companies like TipRanks and Acuity Trading.
For those interested in tracking global economic events, both FinecoBank and IronFX offer economic calendars. Research ratings show them neck and neck, each earning 4-star ratings from ForexBrokers.com. Despite the similar rating, FinecoBank ranks slightly lower at #33 compared to IronFX’s #28 among 63 brokers reviewed for research. This comparison highlights IronFX's emphasis on providing more comprehensive analytical tools, while FinecoBank relies on essential forex news and economic calendars to inform traders.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| 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 offered by FinecoBank and IronFX for beginners, both platforms show strengths and weaknesses. IronFX stands out for its comprehensive educational content focused on forex and CFDs, providing over ten different articles, videos, and archived webinars tailored to these subjects. This gives beginners ample material to understand the intricacies of these financial instruments. However, IronFX does not conduct regular online webinars, missing out on the opportunity for interactive learning experiences. FinecoBank, on the other hand, lacks a broad range of educational content specifically about forex and CFDs but compensates with monthly educational webinars. Unfortunately, FinecoBank does not offer a searchable archive of past webinars, which limits access to previous content for newcomers who might have missed them.
Both FinecoBank and IronFX offer a good range of beginner-focused educational videos, with at least ten videos each to help those new to trading develop their skills. Both also include an investor dictionary featuring definitions for over 50 investing terms, an invaluable resource for those new to the trading world. While neither platform excels in providing advanced educational videos, they cater well to beginners and beginners only. Despite receiving identical star ratings for education—4 out of 5—IronFX ranks slightly higher than FinecoBank in the education category according to ForexBrokers.com, coming in at 44 out of 63 brokers compared to FinecoBank's position at 49.
| Feature |
FinecoBank
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 FinecoBank is better than IronFX. FinecoBank finished with an overall rank of #25, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 83 |
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While both FinecoBank and IronFX do not offer the ability to purchase actual delivered cryptocurrency, IronFX provides the option to trade cryptocurrency derivatives, unlike FinecoBank.
When comparing online brokers, FinecoBank supports ACH and SEPA transfers and bank wires, but does not offer PayPal, Skrill, Visa, or Mastercard for deposit or withdrawal options, while IronFX provides options for Skrill, Visa, Mastercard, and bank wires but does not support ACH, SEPA transfers, or PayPal.
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 | IronFX | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
| Broker Screenshots | FinecoBank | IronFX | |
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| Regulation | FinecoBank | IronFX | |
|---|---|---|---|
| Trust Score | 94 | 83 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | IronFX | |
|---|---|---|---|
| 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) | 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 340 | |
| Forex Pairs (Total) | 54 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | IronFX | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FinecoBank | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 94 | 83 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
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