Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs Xtrade, 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, a publicly traded bank founded in 1999, boasts a high level of trust thanks to its strong regulatory framework. It holds two Tier-1 licenses, which are highly trusted according to ForexBrokers.com. FinecoBank also achieves a Trust Score of 94 out of 99, placing it in the highly trusted bracket. This puts it in a favorable position for those seeking a reliable and well-regulated brokerage service with the added credibility of being listed on a stock exchange.
On the other hand, Xtrade, established in 2003, is not publicly traded and does not operate as a bank. It holds one Tier-1 license, which also signals a high level of trust, alongside one Tier-2 license, indicating a trusted standing. However, Xtrade's Trust Score is 74 out of 99, reflecting an average risk rating by ForexBrokers.com standards. While it provides some level of assurance with its regulatory licenses, for those prioritizing higher trust and public accountability, FinecoBank may be a more appealing option.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing FinecoBank and Xtrade based on commissions and fees, both online brokers have room for improvement. FinecoBank does not provide average spread data for forex and CFD trading, making it tough to gauge its overall trading costs. The broker lists a spread of 1 pip for the EUR/USD, which is higher than the typical spread offered by many forex brokers, suggesting potentially higher costs for traders. However, FinecoBank does seem to offer more favorable spreads on its index CFDs.
Xtrade also falls short when it comes to transparency, as it does not provide average spread data, creating difficulty for prospective traders to accurately assess trading costs. With limited data available, it's challenging to compare overall expenses accurately between these two brokers. However, what we do know from available ratings is that Xtrade is perceived to have less competitive commissions and fees than FinecoBank.
In terms of ratings, FinecoBank earns a score of 3.5 out of 5 stars for its commissions and fees, standing at position 51 out of 63 brokers according to ForexBrokers.com. On the other hand, Xtrade scores lower with 2.5 out of 5 stars, occupying the last spot in the rankings at number 63. While FinecoBank holds a slight edge over Xtrade, both brokers could benefit from increased transparency and competitiveness in their fee structures.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FinecoBank and Xtrade both provide opportunities for investors looking to trade forex, offering forex trading through CFDs or spot contracts. However, FinecoBank sets itself apart with a significantly larger selection of tradeable symbols, boasting an impressive 9,770 options compared to Xtrade's 482. While Xtrade offers a slightly greater number of tradeable forex pairs at 56 compared to FinecoBank's 54, FinecoBank enhances its appeal by permitting trading of exchange-traded securities on both U.S. and international markets. In contrast, Xtrade does not offer this capability, limiting clients to CFD trading without access to actual shares from global exchanges.
When it comes to cryptocurrency, both FinecoBank and Xtrade have limitations. Neither platform allows the purchase of actual cryptocurrencies, though Xtrade provides an option to trade cryptocurrency derivatives. For those interested in copy trading, neither broker offers this service. Overall, FinecoBank receives a superior rating of 4.5 stars for its range of investments, as evaluated by ForexBrokers.com, placing it at the 16th position out of 63 brokers. Meanwhile, Xtrade earns a 3.5-star rating, securing the 49th spot in the same category. These rankings highlight FinecoBank's broader investment offerings, particularly in traditional securities, compared to Xtrade's focus on derivatives.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 482 |
| Forex Pairs (Total) | 54 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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.
When comparing the trading platforms and tools of FinecoBank and Xtrade, both brokers offer their proprietary platforms. FinecoBank provides a Windows-based desktop trading platform, whereas Xtrade lacks this feature. However, both brokers cater to users preferring web-based platforms, and neither supports MetaTrader 4 or MetaTrader 5. When it comes to simulated trading, Xtrade stands out with a free virtual demo account, a feature that FinecoBank does not offer. For those who like charting, Xtrade offers more options with 100 drawing tools compared to FinecoBank's seven, and Xtrade also allows trading directly from a stock chart, a capability that FinecoBank lacks.
Regarding watch lists, Xtrade provides more customization with nine columns, giving traders the opportunity to organize their investment profiles more effectively than FinecoBank, which doesn't offer this feature. Rated at 4 stars for its trading platforms and tools, FinecoBank ranks higher at 18 out of 63 brokers, according to ForexBrokers.com, while Xtrade, with a 3.5-star rating, ranks at 58. Both brokers do not support copy trading or third-party trading services like DupliTrade and ZuluTrade. Each broker caters to different user needs, making your choice dependent on what specific tools and features you prioritize in a trading platform.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | N/A |
| Charting - Drawing Tools (Total) | 7 | 100 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FinecoBank and Xtrade, both platforms offer apps compatible with iPhones and Android devices, making them accessible for most users. However, FinecoBank holds an edge with its stock and forex price alerts, a feature not provided by Xtrade. For those who rely on charting tools for trading, FinecoBank's app includes six technical studies, although neither platform supports the drawing of trendlines or the auto-saving of chart drawings.
While both apps facilitate viewing different time frames of stock or forex charts, only FinecoBank supports this feature, offering more flexibility in analyzing market trends. Despite both trading apps lacking watchlist symbol syncing and real-time quote watchlists, FinecoBank slightly surpasses Xtrade in rankings and user ratings, being positioned at #42 compared to Xtrade's #53 among 63 brokers. Both apps share a user rating of four stars, reflecting a generally positive experience for traders on-the-go.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of FinecoBank and Xtrade, several distinctions emerge that can aid investors in making an informed choice. Both brokers provide forex news from respected sources like Bloomberg and Reuters, ensuring traders stay informed with reliable data. Moreover, FinecoBank and Xtrade each supply an economic calendar that highlights significant global news events, a beneficial feature for traders who follow global markets closely. However, Xtrade stands out with its provision of daily market commentary, a service not extended by FinecoBank.
In terms of research tools, both brokers are missing services like Autochartist and Trading Central, and neither offers sentiment-based trading tools or market insights from TipRanks or Acuity Trading. Despite these gaps, FinecoBank edges out Xtrade with a research rating of 4.0 stars, compared to Xtrade's 3.5-star rating. Consequently, FinecoBank ranks higher at number 33 among 63 brokers assessed by ForexBrokers.com for research quality, whereas Xtrade is positioned at number 52. These rankings and ratings indicate FinecoBank's slightly stronger research capabilities in comparison to Xtrade.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | 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, FinecoBank and Xtrade each offer distinct advantages. FinecoBank provides monthly online webinars that are great for real-time learning, and they also have a collection of beginner-focused educational videos. Additionally, they offer an investor dictionary explaining over 50 investment terms, making it easier for newcomers to familiarize themselves with financial jargon. However, they fall short in offering a wide range of content on forex or CFDs, lacking the minimum ten educational pieces on these important trading topics.
On the other hand, Xtrade meets the needs of beginners by offering a variety of educational content specifically focused on forex and CFDs, but it lacks regular webinars and a tailored video series for beginners. Like FinecoBank, Xtrade provides an investor dictionary that helps beginners learn key investment terms. According to ForexBrokers.com, FinecoBank edges out slightly with a 4.0-star rating in education compared to Xtrade's 3.5 stars. Though FinecoBank is ranked #49 out of 63 brokers in the education category, Xtrade has a higher ranking at #46, implying a slightly broader educational offering.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| 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 | Yes |
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 Xtrade. FinecoBank finished with an overall rank of #25, while Xtrade finished with an overall rank of #60.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 74 |
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While both FinecoBank and Xtrade do not offer the ability to buy actual delivered cryptocurrency, Xtrade provides an option to trade cryptocurrency derivatives, unlike FinecoBank.
FinecoBank offers ACH and SEPA transfers and bank wire options for depositing and withdrawing account funds, whereas Xtrade lacks ACH and SEPA transfer options but provides Skrill and card payments with Visa or Mastercard for financial transactions, alongside the common bank wire services available at both online brokers.
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 | Xtrade | |
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| Trust Score | 94 | 74 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Xtrade Review |
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| Regulation | FinecoBank | Xtrade | |
|---|---|---|---|
| Trust Score | 94 | 74 | |
| Year Founded | 1999 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 482 | |
| Forex Pairs (Total) | 54 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | No | |
| Watchlists - Total Fields | N/A | 9 | |
| Charting - Indicators / Studies (Total) | 37 | N/A | |
| Charting - Drawing Tools (Total) | 7 | 100 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FinecoBank | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | No | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FinecoBank | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| 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 | Yes |
| Major Forex Pairs | FinecoBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | FinecoBank | Xtrade | |
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| Trust Score | 94 | 74 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Xtrade Review |
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