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FinecoBank vs Xtrade 2024

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Written by ForexBrokers.com

August 05, 2024

Is FinecoBank better than Xtrade? In our analysis of 23 international regulators across 62 of the best forex brokers, Fineco Bank is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Xtrade is considered average risk, with an overall Trust Score of 74 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating FinecoBank Xtrade
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 2.5/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 94 74
Winner check_circle
Review FinecoBank Review Xtrade Review
Broker Screenshots FinecoBank Xtrade
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 FinecoBank Xtrade
Trust Score info 94 74
Year Founded info 1999 2003
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-1 Licenses info 2 1
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) FinecoBank Xtrade
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses (Trusted) FinecoBank Xtrade
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments FinecoBank Xtrade
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 9770 482
Forex Pairs (Total) info 54 56
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 Xtrade
Average Spread EUR/USD - Standard info N/A info N/A info
All-in Cost EUR/USD - Active info N/A info N/A info
Active Trader or VIP Discounts info No No
Inactivity Fee info No No
Execution: Agency Broker info No No
Execution: Market Maker info No Yes
Funding FinecoBank Xtrade
Minimum Deposit info $0 $250
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms FinecoBank Xtrade
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info No 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 FinecoBank Xtrade
Virtual Trading (Demo) info No Yes
Alerts - Basic Fields info No No
Watchlists - Total Fields info N/A 9
Charting - Indicators / Studies (Total) info 37 N/A
Charting - Drawing Tools (Total) info 7 100
Charting - Trade From Chart info No Yes
Charts can be saved info Yes No
Mobile Trading FinecoBank Xtrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Mobile Watchlist info No No
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 6 N/A
Mobile Charting - Draw Trendlines info No No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info No No
Mobile Economic Calendar info Yes No
Research FinecoBank Xtrade
Daily Market Commentary info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info No No
Economic Calendar info Yes Yes
Education FinecoBank Xtrade
Education (Forex or CFDs) info No Yes
Client Webinars info Yes No
Client Webinars (Archived) info No No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info No No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs FinecoBank Xtrade
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 FinecoBank Review Xtrade Review
Overall FinecoBank Xtrade
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 3.5/5 Stars 2.5/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 94 74
Winner check_circle
Review FinecoBank Review Xtrade Review
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FinecoBank vs Xtrade Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare FinecoBank vs Xtrade.

Can I trust FinecoBank?

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 regulated in the European Union via the MiFID passporting system.

Can I trust Xtrade?

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one Tier-1 regulator (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Xtrade is authorised by the following Tier-1 regulator: in the European Union via the MiFID passporting system.

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

Is Xtrade good?

Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.

What is the minimum deposit requirement for opening an account with FinecoBank?

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

What is the minimum deposit requirement for opening an account with Xtrade?

Xtrade requires a minimum deposit of $250 before you can open an account and start trading.

What funding options does each broker offer?

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

Does FinecoBank or Xtrade offer lower pricing?

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 FinecoBank 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.

Is FinecoBank or Xtrade safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose 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 FinecoBank holds 2 global Tier-1 licenses, while Xtrade holds 1. Xtrade holds 1 global Tier-2 licenses, while FinecoBank holds 0.

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 FinecoBank (94) earned a higher Trust Score than Xtrade (74).

Which trading platform is better: FinecoBank or Xtrade?

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

Here’s what trading platforms are available at FinecoBank:

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

Here’s what trading platforms are available at Xtrade:

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

What about MetaTrader? How about copy trading?

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.

What can I trade with each broker?

Xtrade provides traders 56 currency pairs (e.g., EUR/USD) compared to FinecoBank's 54 available pairs. If you are interested in trading a full range of securities, FinecoBank offers traders access to 9770 tradeable symbols, while Xtrade offers access to 482 tradeable symbols; so FinecoBank offers 9288 more tradeable symbols than Xtrade.

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

Overall winner: FinecoBank

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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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