Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA, established in 1996, and FinecoBank, founded in 1999, are both well-regarded in the world of online trading, with Trust Scores from ForexBrokers.com that reflect their reliability. OANDA holds a Trust Score of 93 out of 99, indicating it is highly trusted. FinecoBank edges slightly ahead with a Trust Score of 94, also placing it in the highly trusted category. One key difference is that FinecoBank is publicly traded and operates as a bank, while OANDA is not a publicly listed company and is not a bank.
When it comes to regulatory credentials, OANDA stands out with seven Tier-1 licenses, which are seen as highly trustworthy by ForexBrokers.com. In comparison, FinecoBank holds two Tier-1 licenses. Neither of the brokers has Tier-2 licenses, which are considered less prestigious but still trusted. These distinctions in regulatory standing and company structure are crucial considerations for potential clients evaluating their options in online trading platforms.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Year Founded | 1996 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers OANDA and FinecoBank, investors should consider several important factors. OANDA presents a slightly higher cost for forex trading due to its effective spreads. The default spread on the EUR/USD pair, for instance, averaged 1.61 pips in July 2024. Despite this, OANDA's core pricing model offers an alternative with lower spreads, complemented by a commission of $5 per $100,000 in currency traded. This model results in a slightly lower all-in cost compared to its commission-free approach. In addition, OANDA excels by offering micro lot trading that enables transactions as small as 1 unit, catering to those who wish to trade at a finer scale. Rated 4 out of 5 stars for its fees, OANDA is ranked 34th out of 63 brokers by ForexBrokers.com.
On the other hand, FinecoBank does not disclose average spreads for its forex and CFD trading, creating ambiguity around its true trading costs. Although Fineco advertises a spread of 1 pip for the EUR/USD, this rate is not presented as an average figure, thereby raising questions about its competitiveness. Nevertheless, Fineco reportedly offers beneficial spreads on index CFDs. With a 3.5-star rating for its commissions and fees, FinecoBank is positioned 51st out of 63 brokers in the ForexBrokers.com rankings.
In summary, for traders prioritizing cost transparency and flexibility in trade sizes, OANDA provides clear benefits despite its higher average spreads. Meanwhile, FinecoBank might appeal more to those interested in index CFDs, but a lack of spread transparency may deter those mindful of trading precision. Both brokers have their strengths, but traders should weigh these factors carefully against their trading preferences and needs.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing OANDA and FinecoBank in terms of their range of investments, both brokers provide opportunities for forex trading through contracts for difference (CFDs) or spot contracts. OANDA offers 3,928 tradeable symbols, including 68 forex pairs, while FinecoBank provides a broader selection with 9,770 tradeable symbols and 54 forex pairs. However, FinecoBank extends its offerings by allowing clients to invest in exchange-traded securities on both U.S. and international exchanges, unlike OANDA. This includes the ability to purchase shares of popular companies like Apple and Vodafone directly.
OANDA stands out in the realm of cryptocurrencies by enabling direct purchases of actual cryptocurrency and cryptocurrency derivatives. Additionally, it supports copy trading, which FinecoBank does not offer. When it comes to ratings, OANDA earns four stars for its range of investments, while FinecoBank secures a slightly higher 4.5-star rating. According to ForexBrokers.com, OANDA is ranked 27th out of 63 brokers, whereas FinecoBank ranks 16th, reflecting its broader array of available investment options.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 9770 |
| Forex Pairs (Total) | 68 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | 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 OANDA and FinecoBank in terms of trading platforms and tools, both brokers come with their own unique features. OANDA stands out by offering a free virtual demo account for simulated trading, which is not available with FinecoBank. Both companies provide proprietary trading platforms as well as Windows-based and web-based platforms, ensuring flexibility in how traders can access the market. However, OANDA provides additional options for those interested in copy trading and also supports popular platforms like MetaTrader 4 and MetaTrader 5, which FinecoBank does not. When it comes to support for trading directly from stock charts, OANDA holds an advantage, providing a more integrated trading experience compared to FinecoBank.
In terms of technical tools, OANDA offers an impressive 431 drawing tools for charting, far surpassing FinecoBank's offering of 7 tools. This gives OANDA users greater flexibility in analyzing market data. Additionally, OANDA's watch list feature supports up to six columns to help organize important market information, though specific details about FinecoBank’s watch list capabilities were not provided. Both brokers received a rating of four stars for their trading platforms and tools, with OANDA ranked #15 and FinecoBank #18 out of 63 brokers in the ForexBrokers.com list, showing OANDA's slight edge in platform capabilities and tools diversity.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 37 |
| Charting - Drawing Tools (Total) | 431 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 6 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and FinecoBank, both brokers provide compatible applications for iPhone and Android users, along with essential features like stock or forex price alerts. However, OANDA stands out with more advanced offerings, providing 30 technical studies for chart analysis compared to FinecoBank's six. In terms of functionality, OANDA's app allows users to draw trendlines and offers the convenience of auto-saving those drawings, features that FinecoBank’s app does not support.
Both apps allow viewing different time frames on charts, but OANDA takes a further step by enabling real-time quote watchlists, a feature missing in FinecoBank's app. While neither app syncs watchlist symbols between devices and online accounts, OANDA's app still shines brighter with a 5-star rating for mobile trading, compared to FinecoBank's 4-star rating. This difference in ratings is further reflected in ForexBrokers.com's rankings, with OANDA placed at a solid #7 out of 63 brokers, while FinecoBank trails at #42.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing OANDA and FinecoBank for market research offerings, it becomes clear that OANDA holds a distinct advantage in several areas. One of the key highlights is OANDA's provision of daily market commentary, a feature that FinecoBank does not offer. Additionally, OANDA delivers forex news from top-tier sources like Bloomberg and Reuters, similar to FinecoBank. However, OANDA stands out by offering advanced research tools from Autochartist and a sentiment-based trading tool that provides insights into long or short positions across various instruments. In terms of economic calendars, both brokers offer this essential tool, helping traders keep track of important global news events.
Despite both brokers offering quality research tools, OANDA is rated higher for research, earning a 5-star rating compared to FinecoBank's 4-star rating. This superior rating is reflected in their rankings by ForexBrokers.com, where OANDA is positioned at an impressive #5 out of 63 brokers for research excellence. In contrast, FinecoBank is ranked at #33, indicating that while both brokers have strong offerings, OANDA provides a more comprehensive suite of research tools and resources for traders seeking in-depth market analysis and insights.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners exploring forex or CFDs, OANDA and FinecoBank each offer valuable tools, yet differ in some crucial areas. OANDA provides a substantial array of educational materials, featuring over 10 pieces focused on forex and CFDs. This includes articles, videos, and archived webinars all aimed at helping new traders understand market fundamentals. In contrast, FinecoBank doesn't offer the same volume of resources in this area. Both platforms, however, deliver monthly educational webinars to help clients boost their knowledge. Notably, OANDA maintains a searchable archive of these sessions, allowing users to revisit past webinars, a feature not available with FinecoBank.
For those seeking video tutorials, both OANDA and FinecoBank offer at least 10 beginner-friendly videos. However, when it comes to advanced educational videos targeting experienced traders, OANDA excels by also offering extensive resources, while FinecoBank lacks in this area. Both platforms ensure users are equipped with a comprehensive investor dictionary, boasting definitions of at least 50 investing terms, catering to learners who want to familiarize themselves with industry jargon. These offerings are reflected in their ratings: OANDA scores a commendable five stars for its educational resources, ranking 22nd out of 63 brokers, whereas FinecoBank garners four stars, ranking 49th in the same category.
| Feature |
OANDA
|
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 OANDA is better than FinecoBank. OANDA finished with an overall rank of #12, while FinecoBank finished with an overall rank of #25.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 94 |
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OANDA provides traders the option to purchase actual delivered cryptocurrency and cryptocurrency derivatives, while FinecoBank does not offer these capabilities, focusing instead on other financial services.
Both OANDA and FinecoBank provide ACH and SEPA transfers as options for depositing and withdrawing account funds, while only OANDA supports additional payment methods such as PayPal, Skrill, and Visa or Mastercard, and both brokers offer bank wire transfers.
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 | OANDA | FinecoBank | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | FinecoBank Review |
| Broker Screenshots | OANDA | FinecoBank | |
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| Regulation | OANDA | FinecoBank | |
|---|---|---|---|
| Trust Score | 93 | 94 | |
| Year Founded | 1996 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | 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) | OANDA | FinecoBank | |
|---|---|---|---|
| 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 | OANDA | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 9770 | |
| Forex Pairs (Total) | 68 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | 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 | OANDA | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | OANDA | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | OANDA | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 6 | N/A | |
| Charting - Indicators / Studies (Total) | 81 | 37 | |
| Charting - Drawing Tools (Total) | 431 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review | FinecoBank Review |
| Overall | OANDA | FinecoBank | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | FinecoBank Review |
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