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Saxo Bank vs Fineco Bank 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is Saxo Bank better than Fineco Bank? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered Trusted, with an overall Trust Score of 99 out of 99. Fineco Bank is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall Rating Saxo Bank Fineco Bank
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 99 95
Winner check_circle
Review Saxo Bank Review Fineco Bank Review
Broker Screenshots Saxo Bank Fineco Bank
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo Bank Fineco Bank
Trust Score info 99 95
Year Founded info 1992 1999
Publicly Traded (Listed) info No Yes
Bank info Yes Yes
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 7 3
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Saxo Bank Fineco Bank
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo Bank Fineco Bank
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Saxo Bank Fineco Bank
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 126
Forex Pairs (Total) info 190 54
U.S. Stock Trading (Non CFD) info Yes Yes
Int'l Stock Trading (Non CFD) info Yes Yes
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 Saxo Bank Fineco Bank
Average Spread EUR/USD - Standard info 0.9 info N/A info
All-in Cost EUR/USD - Active info 0.7 info N/A info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes No
Funding Saxo Bank Fineco Bank
Minimum Deposit info โ‚ฌ2,000 $0
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No No
Visa/Mastercard (Credit/Debit) info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Saxo Bank Fineco Bank
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info No No
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Saxo Bank Fineco Bank
Virtual Trading (Demo) info Yes No
Alerts - Basic Fields info Yes No
Watchlists - Total Fields info 60 N/A
Charting - Indicators / Studies (Total) info 64 37
Charting - Drawing Tools (Total) info 20 N/A
Charting - Trade From Chart info Yes No
Charts can be saved info Yes Yes
Mobile Trading Saxo Bank Fineco Bank
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes No
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 64 6
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Forex Calendar info Yes Yes
Research Saxo Bank Fineco Bank
Daily Market Commentary info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Saxo Bank Fineco Bank
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Saxo Bank Fineco Bank
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Saxo Bank Review Fineco Bank Review
Overall Saxo Bank Fineco Bank
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score info 99 95
Winner check_circle
Review Saxo Bank Review Fineco Bank Review
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Saxo Bank vs Fineco Bank Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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, Saxo Bank 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 7 global Tier-1 licenses, while Fineco Bank holds 3. 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 (99) earned a higher Trust Score than Fineco Bank (95).

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, Saxo Bank 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 70000 CFDs while Fineco Bank has 126 available CFDs, a difference of 69874.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). 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), Financial Conduct Authority (FCA), and the European Union Authorized (MiFID).

Can I trust Fineco Bank?

Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and the European Union via MiFID.

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: Saxo Bank

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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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