Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs TopFX, 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, making it a reliable choice for those seeking financial services with its high level of transparency. Recognized for its strong governance, FinecoBank holds two Tier-1 licenses, which are among the most trusted credentials in the financial industry. With a ForexBrokers.com Trust Score of 94 out of 99, FinecoBank is deemed highly trustworthy, making it an attractive option for investors who prioritize security and credibility.
In contrast, TopFX, founded in 2010, operates privately and is not a bank. Although it holds one Tier-1 license, which indicates a fair level of trust, its overall ForexBrokers.com Trust Score is 67 out of 99, categorizing it as high risk. This rating suggests that potential clients should exercise caution and consider their risk tolerance when engaging with TopFX. While both brokers offer distinct advantages, FinecoBank's stronger regulatory standing makes it a more reliable choice for cautious traders.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| 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 | 1 |
When evaluating FinecoBank and TopFX for their commissions and fees, there are clear differences in the offerings and rankings of these online brokers. FinecoBank's commissions and fees can be somewhat challenging to decipher due to a lack of average spread data for forex and CFD trading. The broker lists spreads of 1 pip and 0.8 pips for the EUR/USD, though these figures are not provided with average values or specific date ranges. Despite this, FinecoBank is noted for offering lower spreads on index CFDs. It has a star rating of 3.5 out of five and holds the #51 spot out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com.
In contrast, TopFX provides more clarity with its two account options: the spread-only ZERO account and the commission-based RAW account. The RAW account features a commission of 2.75 EUR per side, amounting to 5.50 EUR per round turn for a standard lot. During July 2024, the RAW account's average spreads for the EUR/USD stood at 0.33 pips, with a total all-in cost of about 0.88 pips, aligning with industry norms. The ZERO account, while commission-free, has higher average spreads of 1.03 pips on the EUR/USD for the same period. TopFX boasts a slightly higher star rating of 4 out of five and is ranked #40 in the Commissions and Fees category by ForexBrokers.com.
In summary, TopFX offers a transparent fee structure with both spread-only and commission-based account options, scoring higher both in star rating and ranking compared to FinecoBank. While FinecoBank may offer competitive spreads on certain indices, its lack of average spread data for forex and CFDs makes it less straightforward to gauge total trading costs, resulting in its lower position in industry rankings.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| 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 comparing FinecoBank and TopFX for their range of investment options, both platforms offer forex trading as CFDs, but the extent of their offerings differs significantly. FinecoBank stands out with an impressive 9,770 tradeable symbols, providing a broad spectrum of options for investors. In contrast, TopFX offers a more modest selection with 655 tradeable symbols. While TopFX offers 60 tradeable forex pairs, slightly more than FinecoBank's 54 pairs, FinecoBank provides access to exchange-traded securities on both U.S. and international exchanges, a feature that TopFX does not offer.
Both FinecoBank and TopFX do not allow the purchase of actual cryptocurrencies. However, TopFX enables its clients to trade cryptocurrency derivatives, which is not available at FinecoBank. Additionally, FinecoBank does not support copy trading, whereas this feature is available with TopFX. When it comes to ranking, FinecoBank receives a higher rating of 4.5 stars for its range of investments and ranks 16th out of 63 brokers by ForexBrokers.com. In contrast, TopFX holds a rating of 3.5 stars and is ranked 46th in the same category.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 655 |
| Forex Pairs (Total) | 54 | 60 |
| 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 TopFX both offer well-rated trading platforms, yet they cater to different trader needs. FinecoBank provides a proprietary trading platform developed in-house, accessible via Windows desktop download and web browser. However, it doesn't offer a virtual demo account for practice trading or support for MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Despite having seven drawing tools for charting, traders at FinecoBank can't execute trades directly from stock charts. On the other hand, TopFX does not have a proprietary platform but compensates with the availability of MT4, along with a demo account for new traders to practice. TopFX also offers the option to engage in copy trading and allows users to trade directly from stock charts, boasting fifteen drawing tools for enhanced charting capabilities.
While FinecoBank scores higher in the "Trading Platforms and Tools" category, ranking #18 out of 63 brokers, TopFX ranks #45. Both brokers are rated four stars, indicating robust features across platforms. Available options like copy trading with TopFX and the proprietary platform at FinecoBank highlight the main differentiators, helping traders pick the best fit according to their individual trading preferences and goals.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 | No |
| 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.
FinecoBank and TopFX both offer mobile trading apps accessible on iPhone and Android, enabling traders to stay connected on the go. While both platforms provide essential features like stock and forex price alerts and viewing multiple time frames on charts, TopFX leads in offering more advanced tools such as a wider array of technical studies with 30 options compared to FinecoBank's 6. Additionally, TopFX enables users to draw trendlines and have their drawings auto-saved, features that FinecoBank lacks.
In terms of usability, neither platform supports watchlist symbol syncing between the mobile app and online account, but TopFX provides the added benefit of creating watchlists with real-time quotes, which is not available on FinecoBank's app. Despite these differences, both platforms are equally rated at 4 stars for their mobile trading apps. However, FinecoBank is ranked higher, securing the 42nd spot out of 63 brokers on ForexBrokers.com, compared to TopFX at 51st, highlighting a slightly better overall performance in the mobile trading category.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 online brokers FinecoBank and TopFX for market research offerings, it's clear that both firms provide valuable information, but they differentiate significantly in certain areas. FinecoBank offers forex news from renowned sources such as Bloomberg, Reuters, and Dow Jones, and provides an economic calendar that displays key global events, earning it a 4.0-star rating for research and a respectable rank of #33 out of 63 brokers on ForexBrokers.com. However, FinecoBank lacks access to more advanced technical analysis tools like Autochartist and Trading Central, as well as sentiment-based trading tools, which can be crucial for in-depth market analysis.
In contrast, TopFX matches FinecoBank in delivering forex news from top-tier sources and provides an economic calendar for tracking global events. What sets TopFX apart is its inclusion of advanced tools such as Autochartist and Trading Central for technical analysis, along with a sentiment-based trading tool, offering traders a deeper dive into market trends. Despite these strengths, TopFX’s overall research rating is slightly lower at 3 stars, with a rank of #60 on ForexBrokers.com. This indicates that while TopFX has specific strengths in technical analysis capabilities, FinecoBank may be better rated for broader research availability and overall performance in the market research category.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings of FinecoBank and TopFX for beginners, FinecoBank stands out with a variety of resources tailored to foster learning. FinecoBank provides online webinars monthly, which are a valuable resource for clients looking to deepen their understanding of forex and CFDs. Although both brokers do not meet the standard of offering at least ten educational pieces focused specifically on forex and CFDs, FinecoBank makes up for it by providing over ten beginner-friendly videos specifically designed to ease newcomers into the world of trading. Moreover, FinecoBank takes an educational lead with its comprehensive investor dictionary, where beginners can find definitions for over 50 investing terms, further supporting their educational journey.
In contrast, TopFX seems to fall short for beginner traders seeking structured educational materials. Unlike FinecoBank, it does not offer monthly webinars or a set of beginner educational videos, and it lacks an investor dictionary, which could be pivotal for new traders trying to get familiar with trading terminologies. While both brokers have room for growth in terms of offering advanced educational content, FinecoBank’s overall educational resources earn it a higher rating of 4 out of 5 stars compared to TopFX's 3 stars. Reflecting these offerings, FinecoBank is ranked 49th in the Education category by ForexBrokers.com, significantly ahead of TopFX, which is positioned at 61st out of 63 brokers.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 TopFX. FinecoBank finished with an overall rank of #25, while TopFX finished with an overall rank of #62.
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
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 67 |
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While neither FinecoBank nor TopFX offers the ability to buy actual delivered cryptocurrency, TopFX provides an opportunity to trade cryptocurrency derivatives, unlike FinecoBank, which does not offer this feature.
When comparing the funding options of online brokers FinecoBank and TopFX, FinecoBank supports ACH or SEPA transfers and bank wires, whereas TopFX offers a broader range of deposit and withdrawal methods including PayPal, Skrill, Visa or Mastercard, and bank wires, but does not support ACH or SEPA transfers.
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 | TopFX | |
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| Trust Score | 94 | 67 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TopFX Review |
| Broker Screenshots | FinecoBank | TopFX | |
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| Regulation | FinecoBank | TopFX | |
|---|---|---|---|
| Trust Score | 94 | 67 | |
| Year Founded | 1999 | 2010 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 655 | |
| Forex Pairs (Total) | 54 | 60 | |
| 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| 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 | No |
| Trading Platforms | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | FinecoBank | TopFX | |
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| Trust Score | 94 | 67 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TopFX Review |
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