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Fineco Bank vs LegacyFX 2022

Is Fineco Bank better than LegacyFX? In our analysis of 23 international regulators across 39 brokers, Fineco is considered low-risk, with an overall Trust Score of 92 out of 99. LegacyFX is considered average-risk, with an overall Trust Score of 75 out of 99. Learn more about Trust Score.

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Overall Rating expand_moreexpand_less Fineco Bank LegacyFX
Overall Rating starstarstarstarstar starstarstarstarstar
Commissions & Fees starstarstarstarstar starstarstarstarstar
Offering of Investments starstarstarstarstar starstarstarstarstar
Platform & Tools starstarstarstarstar starstarstarstarstar
Mobile Trading starstarstarstarstar starstarstarstarstar
Research starstarstarstarstar starstarstarstarstar
Education starstarstarstarstar starstarstarstarstar
Trust Score 92 75
Regulation expand_moreexpand_less Fineco Bank LegacyFX
Trust Score 92 75
Year Founded 1999 2012
Publicly Traded (Listed) Yes No
Bank Yes No
Tier-1 Licenses 1 1
Tier-2 Licenses 0 1
Tier-3 Licenses 0 0
Authorised in European Union Yes Yes
Tier-1 Licenses (High Trust) expand_moreexpand_less Fineco Bank LegacyFX
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust) expand_moreexpand_less Fineco Bank LegacyFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
NSE Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust) expand_moreexpand_less Fineco Bank LegacyFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
Investments expand_moreexpand_less Fineco Bank LegacyFX
Forex Trading Yes Yes
Trading - Forex or CFDs Yes Yes
Tradeable Symbols (Total) 126 425
Forex Pairs (Total) 54 41
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 (CFD) No Yes
Cost expand_moreexpand_less Fineco Bank LegacyFX
Average Spread EUR/USD - Standard N/A 0
All-in Cost EUR/USD - Active N/A 0
Active Trader or VIP Discounts No Yes
Execution: Agency Broker No No
Execution: Market Maker No No
Funding expand_moreexpand_less Fineco Bank LegacyFX
Minimum Initial Deposit $0 $500
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) No Yes
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Trading Platforms expand_moreexpand_less Fineco Bank LegacyFX
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) No No
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading Tools expand_moreexpand_less Fineco Bank LegacyFX
Virtual Trading (Demo) No Yes
Alerts - Basic Fields No Yes
Watchlists - Total Fields 7
Charting - Indicators / Studies (Total) 90 30
Charting - Drawing Tools (Total) N/A 15
Charting - Trade From Chart No Yes
Charts can be saved No Yes
Mobile Trading expand_moreexpand_less Fineco Bank LegacyFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields No Yes
Mobile Watchlist No Yes
Watchlist Syncing No No
Mobile Charting - Indicators / Studies N/A 30
Mobile Charting - Draw Trendlines No Yes
Mobile Charting - Multiple Time Frames No Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar No No
Research expand_moreexpand_less Fineco Bank LegacyFX
Daily Market Commentary No Yes
Forex News (Top-Tier Sources) Yes No
Autochartist No Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs No No
Economic Calendar No Yes
Education expand_moreexpand_less Fineco Bank LegacyFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex Pairs expand_moreexpand_less Fineco Bank LegacyFX
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
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Fineco Bank vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Fineco Bank vs LegacyFX.

Does Fineco Bank or LegacyFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Fineco Bank offers better pricing overall for traders.

Is Fineco Bank or LegacyFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both Fineco Bank and LegacyFX hold [Variable A] global Tier-1 licenses. In our analysis of 23 international regulators across 50 brokers, Fineco Bank earned a higher Trust Score than LegacyFX.

Which trading platform is better: Fineco Bank or LegacyFX?

To compare the trading platforms of both Fineco Bank and LegacyFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Fineco Bank offers a better experience. With research, Fineco Bank offers superior market research. Finally, we found Fineco Bank to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Fineco Bank provides traders 54 currency pairs (e.g., EUR/USD) compared to LegacyFX's 41 available pairs.

Can I trust Fineco Bank?

Fineco is publicly traded and does operate a bank. Fineco is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Fineco is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

Can I trust LegacyFX?

LegacyFX is not publicly traded and does not operate a bank. LegacyFX is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). LegacyFX is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA).

Is Fineco Bank good?

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.

Is LegacyFX good?

LegacyFX is a plain-vanilla MetaTrader 5 (MT5) broker that offers a medium range of CFD markets and forex pairs. It has built a good foundation of research offerings, and its investor education content is on par with the industry average. Overall, LegacyFX still has room to grow, and trails behind the best MetaTrader brokers.

Overall winner: Fineco Bank

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