Fineco Bank vs TeleTrade 2023

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.

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). TeleTrade is authorised by the following tier-1 regulator: European Union Authorized (MiFID).

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.

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

To open a forex trading account with Fineco Bank, you'll need to make an initial minimum deposit of $0.

Fineco Bank requires a minimum deposit of $100 before you can open an account and start trading forex.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Fineco Bank offers Bank Wire (Deposit/Withdraw) for banking, whereas TeleTrade provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that TeleTrade offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Fineco Bank holds 3 global Tier-1 licenses, while TeleTrade holds 1. Both Fineco Bank and TeleTrade hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Fineco Bank (95) earned a higher Trust Score than TeleTrade (71).

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

Here’s what trading platforms are available at Fineco Bank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

zoom_in zoom_in zoom_in zoom_in zoom_in zoom_in zoom_in zoom_in zoom_in

Here’s what trading platforms are available at TeleTrade:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

TeleTrade provides traders 61 currency pairs (e.g., EUR/USD) compared to Fineco Bank's 54 available pairs. If you are interested in trading CFDs, TeleTrade offers traders access to 500 CFDs, while Fineco Bank offers access to 126 CFDs; so TeleTrade offers 374 more CFDs than Fineco Bank.

We found in our testing that TeleTrade offers a more diverse selection of investment options than Fineco Bank, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical) and Spread Betting.