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 |
When it comes to trading costs, FinecoBank does not make it easy to discern its true trading expenses, as it doesn't provide average spread data for forex and CFD trading. FinecoBank quotes a spread of 1 pip for the EUR/USD, which is still higher than what's typically offered by many other forex brokers. They also mention a 0.8 pip spread, though neither is confirmed as an average, adding to the uncertainty. Despite this, there seems to be some optimism around lower spreads for their index CFDs. Overall, FinecoBank earns a 3.5-star rating for commissions and fees and is ranked 51st out of 63 brokers by ForexBrokers.com.
RoboForex, on the other hand, offers average spreads of 1.3 pips for EUR/USD on its Procent and Pro accounts, which can be considered relatively high. Similar to FinecoBank, RoboForex also scores a 3.5-star rating in the commissions and fees category, according to ForexBrokers.com. However, it sits slightly lower on the ranking scale, positioned at 55th out of 63 brokers.
In summary, both FinecoBank and RoboForex share identical ratings of 3.5 stars for their commissions and fees, yet they demonstrate differences in their ranked positions and spread offerings. Each broker presents its own set of trading costs, providing potential clients with points to weigh against their individual trading needs.
| 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.
FinecoBank and RoboForex both offer a wide range of investment options, yet they cater to slightly different needs for traders. FinecoBank takes a leading position with a larger number of tradeable symbols, offering 9,770 compared to RoboForex's 8,400. Furthermore, FinecoBank provides access to 54 forex pairs, surpassing RoboForex’s 28 options. For investors seeking to buy exchange traded securities, FinecoBank presents an advantage by allowing investments on both U.S. and international exchanges. However, RoboForex does not offer this capability, though it stands out with its availability of cryptocurrency derivatives and copy trading options, which are not available through FinecoBank.
In terms of overall performance, both brokers earn a strong rating of 4.5 stars for their range of investments, suggesting a satisfying experience for most users. Yet, taking a closer look at rankings, FinecoBank is slightly ahead, ranked 16th by ForexBrokers.com, while RoboForex follows at 20th. These distinctions suggest that while both brokers provide competitive offerings, FinecoBank might better suit traders looking for a broader access to international exchanges and a variety of forex pairs, whereas RoboForex could appeal to those interested in speculative trading and additional tools like copy trading.
| 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 unique strengths in their trading platforms and tools, catering to different trader preferences. FinecoBank stands out with its in-house developed proprietary platform, offering both desktop and web-based options for maximum accessibility. However, it lacks a demo account for practice trading, which may be a downside for beginners looking to test strategies risk-free. Additionally, FinecoBank does not provide support for the popular MetaTrader platforms (MT4 and MT5) and lacks copy trading features. With seven drawing tools available for charting, FinecoBank enables a moderate level of technical analysis but does not allow trading directly from stock charts.
In contrast, RoboForex offers a broader selection of tools for diverse trading needs. It supports popular platforms like MetaTrader 4 and MetaTrader 5, and provides users with a demo account for simulated trading, making it friendly for both newcomers and experienced traders. RoboForex also supports copy trading, allowing users to mimic the strategies of successful traders. While lacking a proprietary platform, it compensates by offering 15 drawing tools for technical analysis and the ability to trade directly from stock charts. RoboForex's platform versatility makes it a strong choice for traders seeking variety, despite its lower ranking of #43 compared to FinecoBank's #18 ranking by ForexBrokers.com.
| 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.
Both FinecoBank and RoboForex provide mobile apps available for iPhone and Android users, catering to traders who need to manage investments on the go. Both platforms support alerts for stock or forex prices, ensuring traders stay informed about market movements. However, neither app allows for the syncing of watchlists between mobile and online accounts, which could be a consideration for those who value seamless transitions across devices.
RoboForex edges out in chart analysis, offering 30 technical studies and the ability to draw trendlines, features that aren't available with FinecoBank's 6 technical studies or drawing capabilities. Additionally, RoboForex allows for the creation of watchlists with real-time quotes and autosaves chart drawings, both of which are missing from FinecoBank's app. Despite these differences, both apps share the same user rating of 4 out of 5 stars for mobile trading, although FinecoBank is ranked slightly higher in industry reviews. Ultimately, traders looking for extensive charting tools might lean towards RoboForex, while FinecoBank still offers a reliable option for basic mobile trading needs.
| 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 the market research offerings of FinecoBank and RoboForex, several key differences arise. FinecoBank provides forex news from top-tier sources like Bloomberg and Reuters, complementing this with an economic calendar detailing global news events. Despite these offerings, FinecoBank does not include daily market commentary, sentiment-based trading tools, or partnerships with analytical firms like Autochartist and Trading Central. Consequently, FinecoBank achieves a research rating of 4.0 stars and ranks #33 out of 63 brokers according to ForexBrokers.com.
In contrast, RoboForex delivers distinct benefits such as daily market commentary and tools from Trading Central and Acuity Trading, including options like Signal Centre. While RoboForex also features an economic calendar and access to news from top-tier sources, it lacks a sentiment-based trading tool and partnerships with Autochartist. These combined features contribute to RoboForex's 3.5-star research rating and its ranking at #37 among 63 brokers, as per 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.
When comparing FinecoBank and RoboForex for educational resources aimed at beginners, FinecoBank emerges as a more attractive option. FinecoBank provides beginner traders with valuable insights through a series of online educational webinars held at least once a month. They also cater to new traders by offering at least 10 educational videos that cover trading topics specifically for beginners. Additionally, FinecoBank equips its users with an investor dictionary containing definitions of over 50 investing terms, making it an excellent resource for those starting their trading journey.
In contrast, RoboForex does not offer monthly webinars or a comparable number of beginner-focused educational videos. The absence of these resources could make it harder for novices to get started confidently. Furthermore, RoboForex does not provide an extensive investor dictionary to enhance the learning curve. Overall, FinecoBank scores a 4.0-star rating for education, compared to RoboForex's 3.5 stars, and ranks higher in ForexBrokers.com's Education category, reflecting a stronger commitment to educating investors.
| 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 63 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
|
|---|---|---|
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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 |
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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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