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Saxo Bank vs Fineco Bank 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

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

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Overall RatingSaxo BankFineco BankIG
Overall Rating5 Stars4 Stars5 Stars
Commissions & Fees5 Stars3.5 Stars5 Stars
Offering of Investments5 Stars4.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4 Stars5 Stars
Education4 Stars3.5 Stars5 Stars
Trust Score999299
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ReviewSaxo Bank ReviewFineco Bank ReviewIG Review
RegulationSaxo BankFineco BankIG
Trust Score999299
Year Founded199219991974
Publicly Traded (Listed)NoYesYes
BankYesYesYes
Tier-1 Licenses617
Tier-2 Licenses102
Tier-3 Licenses001
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Saxo BankFineco BankIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)NoNoNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Saxo BankFineco BankIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoNoNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)Saxo BankFineco BankIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsSaxo BankFineco BankIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)6000012619537
Forex Pairs (Total)19054100
U.S. Stock Trading (Non CFD)YesYesYes
Int'l Stock Trading (Non CFD)YesYesYes
Social Trading / Copy TradingYesNoYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesNoYes
DisclaimersNote: 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).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).
CostSaxo BankFineco BankIG
Average Spread EUR/USD - Standard0.9 (September 2022)N/A0.86 (September 2022)
All-in Cost EUR/USD - Active0.7 (September 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Execution: Agency BrokerYesNoYes
Execution: Market MakerYesNoYes
FundingSaxo BankFineco BankIG
Minimum Initial Depositโ‚ฌ2,000$0ยฃ250.00
PayPal (Deposit/Withdraw)NoNoYes
Skrill (Deposit/Withdraw)NoNoNo
Visa/Mastercard (Credit/Debit)YesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsSaxo BankFineco BankIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesNoYes
MetaTrader 4 (MT4)NoNoYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsSaxo BankFineco BankIG
Virtual Trading (Demo)YesNoYes
Alerts - Basic FieldsYesNoYes
Watchlists - Total Fields6214
Charting - Indicators / Studies (Total)629033
Charting - Drawing Tools (Total)20N/A20
Charting - Trade From ChartYesNoYes
Charts can be savedYesNoYes
Mobile TradingSaxo BankFineco BankIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesNoYes
Mobile WatchlistYesNoYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies62N/A33
Mobile Charting - Draw TrendlinesYesNoYes
Mobile Charting - Multiple Time FramesYesNoYes
Mobile Charting - Drawings AutosaveYesNoYes
Forex CalendarYesNoYes
ResearchSaxo BankFineco BankIG
Daily Market CommentaryYesNoYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistYesNoYes
Trading Central (Recognia)NoNoNo
Social Sentiment - Currency PairsYesNoYes
Economic CalendarYesNoYes
EducationSaxo BankFineco BankIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsSaxo BankFineco BankIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewSaxo Bank ReviewFineco Bank ReviewIG Review
OverallSaxo BankFineco BankIG
Overall Rating5 Stars4 Stars5 Stars
Commissions & Fees5 Stars3.5 Stars5 Stars
Offering of Investments5 Stars4.5 Stars5 Stars
Platform & Tools5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4 Stars5 Stars
Education4 Stars3.5 Stars5 Stars
Trust Score999299
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ReviewSaxo Bank ReviewFineco Bank ReviewIG Review
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Saxo Bank vs Fineco Bank 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 Saxo Bank vs Fineco Bank.

Does Saxo Bank or Fineco Bank 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, IG offers better pricing overall for traders.

Is Saxo Bank or Fineco Bank 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. Saxo Bank holds 6 global Tier-1 licenses, while Fineco Bank holds 1. Saxo Bank holds 1 global Tier-2 licenses, while Fineco Bank holds 0. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than Fineco Bank.

Which trading platform is better: Saxo Bank or Fineco Bank?

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

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Fineco Bank's 54 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while Fineco Bank has 126 available CFDs, a difference of 59874.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

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).

Is Saxo Bank good?

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience โ€“ as well as a stunning selection of over 40,000 securities.

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 โ€“ or you are a resident of Italy or the U.K. โ€“ you will not be permitted to open an online account with FinecoBank.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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