Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs RoboForex, 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.
FinecoBank, established in 1999, is a publicly traded bank, distinguishing itself with a high Trust Score of 94 out of 99 according to ForexBrokers.com. This score places FinecoBank in the "highly trusted" category. The broker holds two Tier-1 licenses, underscoring its strong regulatory standing. As a financial institution listed on a stock exchange, FinecoBank offers an added layer of transparency and investor confidence, appealing to those prioritizing security and regulatory compliance in their online trading experience.
In contrast, RoboForex, founded in 2009, operates as a privately owned venture with a Trust Score of 73, categorizing it as presenting an average risk level. While RoboForex holds one Tier-1 license, unlike FinecoBank, it does not possess any Tier-2 licenses and is not a bank. For investors evaluating their options, RoboForex might appeal to individuals who are comfortable with its regulatory profile and are looking for alternative online trading platforms.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
FinecoBank and RoboForex each offer unique commission and fee structures, impacting their overall cost-effectiveness for traders. FinecoBank indicates a spread of 1 pip for EUR/USD trades, and another listing at 0.8 pips. These figures, though unconfirmed as average values, suggest higher-than-average costs compared to typical forex brokers. It appears, however, that Fineco may provide more favorable spreads for index CFDs, potentially lowering trading costs in that area.
In comparison, RoboForex presents average spreads of 1.3 pips for EUR/USD on both its Procent and Pro accounts, which are considered relatively high. This may make RoboForex less competitive in terms of forex trading costs. Despite these higher spreads, neither broker stands out significantly in their commission and fee structures within the industry.
When it comes to ratings, both FinecoBank and RoboForex receive 3.5 stars out of 5 for commissions and fees, reflecting moderate customer satisfaction in this area. In rankings, FinecoBank is positioned slightly better at #50 out of 62 brokers, while RoboForex is ranked at #54, according to ForexBrokers.com. These rankings demonstrate how both brokers still have room for improvement in offering competitive pricing.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.3 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 it comes to the variety of investments available, both FinecoBank and RoboForex have a lot to offer. FinecoBank boasts an impressive 9,770 tradeable symbols, compared to RoboForex's 8,400. For those interested in forex trading, FinecoBank offers a broader selection with 54 tradeable forex pairs, while RoboForex provides 28 pairs. If you're keen on trading stocks directly from U.S. or international exchanges, FinecoBank is the option for you as it allows the buying of shares like Apple on NASDAQ and Vodafone on the London Stock Exchange. In contrast, RoboForex focuses more on forex and other CFD trading, omitting direct stock purchases from major exchanges.
Looking further into unique offerings, RoboForex provides copy trading and the option to trade cryptocurrency derivatives, features that FinecoBank doesn't offer. However, neither platform supports the purchase of actual cryptocurrencies. Despite these differences, both FinecoBank and RoboForex hold an equal rating of 4.5 stars for their range of investments. According to ForexBrokers.com, FinecoBank is slightly more favored, ranked 16th amongst 62 brokers for investment range, whereas RoboForex follows at 20th place.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 8400 |
| Forex Pairs (Total) | 54 | 28 |
| 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 RoboForex both offer distinct trading platform experiences catering to different trader needs. FinecoBank provides its own in-house developed platform, along with a Windows-based desktop download and a web-based browser platform. Despite not offering copy trading or popular platforms like MetaTrader 4 or 5, FinecoBank remains competitive with a user-friendly interface, earning it a 4-star rating for trading platforms and tools, ranking at #18 out of 62 brokers on ForexBrokers.com.
In contrast, RoboForex excels with diversity in its trading solutions, supporting both MetaTrader 4 and MetaTrader 5, alongside a web-based platform. It stands out by offering a virtual demo account for simulated trading and copy trading capabilities, appealing to traders who value practice and strategy sharing. Although RoboForex's platform isn’t proprietary, it includes features like direct trading from stock charts and a selection of 15 drawing tools. Despite these offerings, RoboForex also garners a 4-star rating, yet places lower at #43 in the ForexBrokers.com ranking.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| 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 comparing the mobile trading apps of FinecoBank and RoboForex, both brokers are available on iPhone and Android devices, and they provide stock or forex price alerts to their users. However, neither platform supports syncing watchlist symbols between the mobile app and their online account, requiring users to manually manage their lists on multiple platforms. In terms of technical features, RoboForex stands out by offering 30 technical studies for charting, significantly more than FinecoBank's six studies. RoboForex also allows users to draw trendlines and autosaves these drawings on stock or forex charts, which FinecoBank does not. Both apps enable viewing multiple time frames on charts, but RoboForex also offers the added benefit of creating watchlists with real-time quotes, unlike FinecoBank.
Despite these differences, both mobile trading apps share a solid user rating of four stars. When it comes to rankings by ForexBrokers.com, FinecoBank holds the 42nd position out of 62 brokers, slightly ahead of RoboForex, which is positioned at 43rd in the Mobile Trading Apps category. This comparison highlights RoboForex as the app with a more comprehensive set of features for those who prioritize charting tools and customization, while FinecoBank maintains its competitive edge in overall user satisfaction and industry ranking.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| 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 comparing FinecoBank and RoboForex for market research services, notable differences and similarities emerge. FinecoBank provides forex news updates from esteemed sources like Bloomberg and Reuters, and it also offers an economic calendar for tracking key global events. However, it doesn't deliver daily market commentary or advanced analysis tools from companies like Autochartist and Trading Central. With a research rating of 4.0 stars, FinecoBank is positioned at #33 out of 62 brokers according to ForexBrokers.com.
RoboForex, in contrast, offers daily market commentary alongside a variety of news from top-tier providers, similar to FinecoBank. RoboForex has an advantage with the integration of Trading Central for technical analytics and Acuity Trading's tools, enhancing their market research capabilities. Despite lacking sentiment-based trading tools, RoboForex still provides an economic calendar like FinecoBank. With a slightly lower research rating of 3.5 stars, RoboForex is ranked #37 for research by ForexBrokers.com.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners exploring educational resources in online trading, FinecoBank offers several advantages over RoboForex. FinecoBank provides monthly online educational webinars and has an extensive library of beginner-focused trading videos. Moreover, their comprehensive investor dictionary simplifies complex trading terms for new investors. While FinecoBank's 4.0-star rating showcases its commitment to education, its ranking at #49 among 62 brokers suggests there still is room for improvement.
On the other hand, RoboForex does not match FinecoBank's offerings in this area. It lacks the provision of regular webinars and a significant collection of beginner educational videos. RoboForex also falls behind with a 3.5-star education rating and a #56 ranking in the education category. Although both brokers need enhancements, FinecoBank's current resources provide a more supportive environment for beginners looking to learn about forex and CFDs trading.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FinecoBank is better than RoboForex. FinecoBank finished with an overall rank of #25, while RoboForex finished with an overall rank of #46.
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
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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 73 |
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FinecoBank does not provide the option to purchase actual delivered cryptocurrency or cryptocurrency derivatives, whereas RoboForex does not offer the purchase of actual delivered cryptocurrency but does provide the option to trade cryptocurrency derivatives.
While both FinecoBank and RoboForex provide ACH and SEPA transfer options as well as bank wire services for depositing and withdrawing funds, RoboForex also offers additional flexibility with options like PayPal, Skrill, and Visa or Mastercard, which are not available with FinecoBank.
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 | RoboForex | |
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| Trust Score | 94 | 73 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | RoboForex Review |
| Broker Screenshots | FinecoBank | RoboForex | |
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| Regulation | FinecoBank | RoboForex | |
|---|---|---|---|
| Trust Score | 94 | 73 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 8400 | |
| Forex Pairs (Total) | 54 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.3 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FinecoBank | RoboForex | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FinecoBank | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | FinecoBank | RoboForex | |
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| Trust Score | 94 | 73 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | RoboForex Review |
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