Written by ForexBrokers.com
In this head to head comparison of XM Group vs FinecoBank, 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.
Founded in 2009, XM Group is an online broker recognized for holding 4 Tier-1 licenses, which are deemed highly trusted. While not publicly traded like a traditional bank, XM Group maintains a strong presence with a Trust Score rating of 88 from ForexBrokers.com, categorizing it as trusted. In addition, XM Group holds 1 Tier-2 license, further bolstering its reputable standing among users.
FinecoBank, established earlier in 1999, operates not only as a publicly traded company but also as a recognized banking entity. With a Trust Score rating of 94 from ForexBrokers.com, it is considered highly trusted. Despite holding fewer Tier-1 licenses—2 in total—compared to XM Group, FinecoBank's status as both a bank and its public trading status contribute to its strong reliability image, even without any Tier-2 licenses.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Year Founded | 2009 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
Comparing the commissions and fees of XM Group with FinecoBank provides insight into their cost structures for trading. XM Group, rated 4 out of 5 stars in this category, offers standard account spreads that are noted for being expensive. However, specific average spread information for their commission-based XM Zero account is not publicly available, making it challenging for traders to precisely evaluate costs. Despite this, XM Group ranks #33 out of 62 brokers according to ForexBrokers.com, reflecting a relatively competitive position in terms of commissions and fees.
In contrast, FinecoBank, with a rating of 3.5 out of 5 stars for commissions and fees, lacks transparency as it does not provide average spread data for forex and CFD trading. This makes it hard to determine the actual cost of trading. Their listed spread for the EUR/USD is 1 pip, and in some instances, 0.8 pips, but without any clarification if these are average spreads or specific to certain time frames. Nonetheless, FinecoBank appears to offer lower spreads on its index CFDs which may be attractive to some traders. Its ranking of #50 among 62 brokers by ForexBrokers.com indicates a less favorable standing in this comparison.
In summary, while XM Group presents a pricier spread for their standard account, they maintain a higher ranking and star rating due to their general competitive edge in commissions and fees, despite the lack of detailed spread information for the XM Zero account. On the other hand, FinecoBank, with less clarity on spread averages and higher assumed trading costs, ranks lower, making XM Group a potentially more appealing choice for those particularly concerned about trading costs.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and FinecoBank each provide a comprehensive selection of investment options, catering to traders and investors with varying interests. XM Group offers forex trading as a CFD, and so does FinecoBank, making them suitable for those looking to trade Forex. XM Group boasts a total of 1,394 tradeable symbols, while FinecoBank features a more extensive roster with 9,770 symbols. If you're focusing specifically on forex pairs, XM Group leads slightly, offering 55 pairs compared to FinecoBank's 54. Both brokers allow for investing in exchange-traded securities on U.S. and international exchanges, enabling clients to purchase shares like Apple and Vodafone directly.
XM Group sets itself apart with the option for copy trading, a feature FinecoBank doesn't offer. When it comes to cryptocurrencies, neither broker provides the ability to buy actual delivered cryptocurrency; however, XM Group does allow traders to engage in cryptocurrency derivatives, which is not an option at FinecoBank. Despite these offerings, both brokers hold a rating of 4.5 stars for the range of investments, although FinecoBank is ranked slightly higher at #16 out of 62 brokers, compared to XM Group's #23, on ForexBrokers.com.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 9770 |
| Forex Pairs (Total) | 55 | 54 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
XM Group and FinecoBank both provide competitive online trading platforms, but they cater to different types of traders. XM Group offers a wide array of trading tools, including the popular MetaTrader 4 and 5, which helps facilitate a versatile trading experience. XM stands out with features like simulated paper trading through a free virtual demo account, which FinecoBank lacks. For individuals interested in copy trading, XM Group provides this option while FinecoBank does not. Both brokers offer a Windows-based desktop download and a web-based trading platform, making accessibility easy for users regardless of their device preference. While both are rated four stars for trading platforms and tools, FinecoBank is slightly higher in the ForexBrokers.com ranking at #18 compared to XM Group's ranking of #31.
FinecoBank differentiates itself with a proprietary, in-house developed trading platform, which is not found in XM Group. This exclusive platform contributes to a unique trading environment for its users. When it comes to charting capabilities, XM Group provides more drawing tools compared to FinecoBank, offering 15 tools versus 7. XM also allows trading directly from stock charts, offering greater convenience for traders. However, FinecoBank makes up for some of these limitations with potentially broader functionality of its proprietary platform. While XM Group offers seven columns for watch lists, the number available on FinecoBank is not specified. Overall, both platforms provide solid options for traders, each with its own set of strengths tailored to different needs.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both XM Group and FinecoBank offer mobile trading apps for iPhone and Android, enabling users to trade on the go with ease. They both let you set price alerts for stocks or forex, which can be crucial for staying updated on market movements. However, XM Group stands out with its feature allowing watchlist symbol syncing, where changes made in the mobile app are reflected in the online account and vice versa—a convenience not available with FinecoBank.
The trading tools provided in these apps also differ significantly. XM Group offers a more comprehensive set of features with 30 technical studies for charting, while FinecoBank provides only six. XM Group users can draw trendlines on charts, an option that FinecoBank users do not have. Both apps allow viewing of multiple time frames on charts but do not auto-save drawings. XM Group further distinguishes itself by allowing users to create a watchlist with real-time quotes, another feature FinecoBank lacks. Despite these differences, both apps receive a solid 4-star rating for mobile trading, but XM Group is ranked higher, sitting at #29 compared to FinecoBank's #42 in ForexBrokers.com's list.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing XM Group and FinecoBank for market research offerings, XM Group stands out with several features that cater to traders seeking in-depth analysis and timely insights. XM Group provides daily market commentary and forex news from respected sources like Bloomberg and Reuters. Moreover, it offers tools from Trading Central for technical analysis and features a sentiment-based trading tool that highlights the ratio of long to short positions across different instruments. Complementing these tools, XM Group maintains an economic calendar to keep traders informed about global economic events. These resources contribute to XM Group's notable research rating of 5 stars, placing it 8th out of 62 brokers as per ForexBrokers.com.
In contrast, FinecoBank provides forex news from leading sources and an economic calendar similar to XM Group, but it falls short in other research tools and daily market commentary. While FinecoBank also brings valuable information via a robust news feed, it does not offer tools like Trading Central's technical analysis or any sentiment-based trading tools. As a result, FinecoBank holds a research rating of 4 stars, ranking 33rd out of 62 brokers. For traders who prioritize a comprehensive suite of analytical tools and timely insights, XM Group may offer a more compelling package in the realm of market research.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, XM Group stands out by offering a wide range of content tailored for those new to forex and CFD trading. With at least ten educational pieces that include articles, videos, and webinars focused on these subjects, XM is a reliable choice for novices looking to deepen their understanding. Additionally, XM Group goes a step further by providing regular monthly webinars and an easily accessible archive of past sessions, ensuring that users have a wealth of knowledge at their fingertips. For visual learners, XM Group presents over ten beginner-friendly videos, along with advanced content for more seasoned traders, making it a comprehensive educational platform. The broker is rated highly, with a 5-star education score, earning it a commendable #7 ranking for education out of 62 brokers reviewed by ForexBrokers.com.
On the other hand, FinecoBank offers beginner educational videos and monthly webinars similar to XM Group, but it lacks the depth in some key educational areas. While FinecoBank provides an investor dictionary with definitions for over 50 investing terms, some essential elements like a substantial library of educational content focused solely on forex or CFDs and an archive of past webinars are missing. Additionally, FinecoBank does not offer a range of advanced trading videos, which might limit resources for traders aspiring to elevate from beginner to advanced levels. Despite these gaps, FinecoBank still garners recognition with a 4.0-star rating for its educational offerings, ranking #49 among the 62 brokers evaluated by ForexBrokers.com.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that XM Group is better than FinecoBank. XM Group finished with an overall rank of #17, while FinecoBank finished with an overall rank of #25.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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FinecoBank
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|---|---|---|
| Overall Rating |
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| Trust Score | 88 | 94 |
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When comparing online brokers, XM Group offers the ability to buy cryptocurrency derivatives while FinecoBank does not provide options for purchasing either actual cryptocurrencies or cryptocurrency derivatives.
In comparing XM Group with FinecoBank for online brokerage services, XM Group uniquely supports Skrill and bank wires for deposits and withdrawals, alongside Visa or Mastercard, while lacking ACH, SEPA, and PayPal options, whereas FinecoBank provides ACH, SEPA, and bank wires but does not support Skrill, Visa, Mastercard, or PayPal.
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 | XM Group | FinecoBank | |
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| Trust Score | 88 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | FinecoBank Review |
| Broker Screenshots | XM Group | FinecoBank | |
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| Regulation | XM Group | FinecoBank | |
|---|---|---|---|
| Trust Score | 88 | 94 | |
| Year Founded | 2009 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | Yes | |
| 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) | XM Group | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 9770 | |
| Forex Pairs (Total) | 55 | 54 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | XM Group | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | XM Group | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | XM Group | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | XM Group | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | FinecoBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | XM Group | FinecoBank | |
|---|---|---|---|
| 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 | XM Group Review | FinecoBank Review |
| Overall | XM Group | FinecoBank | |
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| Trust Score | 88 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | FinecoBank Review |
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