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Influence index NO.1
No valid regulatory information, please be aware of the risk!
Pyramid scheme complaint
General Information & Regulation of Fineco Bank
Fineco Bank was founded in Milan in 1999 and is now headquartered in London, UK, providing online trading services, asset management, and banking services to investors worldwide. Fineco Bank has 1.3 million clients in Italy alone and manages $70 billion in financial assets. No regulatory information is available on the Fineco Bank website.
Safety Analysis of Fineco Bank
Fineco Bank does not display any valid regulatory information on its website, which means that the safety of investors' funds and trading activities on the Fineco Bank platform are not effectively protected. Investors should choose brokers strictly regulated, such as the FCA in the UK and CySEC in Cyprus.
Fineco Bank offers its clients worldwide a wide range of financial instruments, including Forex, indices, stocks, commodities, bonds, futures, options, and ETFs.
Trading Accounts of Fineco Bank
Fineco Bank offers three main services: banking, asset management, and online trading. The type of account opened may depend on the service to be used. For online trading services, an investor can open a trading account and have access to all the instruments offered by Fineco Bank and allow access to the dealer's advanced trading platform. The accounts on the Fineco Bank platform have no minimum deposit requirements, no market connection costs, and no transaction fees. Depending on the market, investors can use the leverage of 1:20 or higher.
Spreads & Commissions of Fineco Bank
Spreads and commissions on the Fineco Bank platform vary depending on the trading instrument. There are no commissions on stock CFDs. Commissions are as low as $0.7 for Futures, 0.4 pips for Index CFDs, 0.8 pips for Eurodollar, £2.95 for UK stocks and ETFs, €3.95 for US and European stocks and ETFs, and $2.50 for Options.
Trading Platforms Available of Fineco Bank
Fineco Bank offers investors a choice of three trading platforms: the PowerDesk trading platform, the web trading platform, and the mobile app trading platform. The PowerDesk trading platform can be used as a web platform running directly on any modern web browser (e.g., Google Chrome, Firefox, Edge, and Safari) and can be accessed at any time without downloading any additional software. The main features of the PowerDesk platform are real-time prices, intuitive chart trading, automatic order placement, technical analysis, and historical reports.
Deposit and withdrawal
Fineco Bank may charge transaction fees and card maintenance fees.
Pros & Cons of Fineco Bank
The main advantages of Fineco Bank are:
1. Competitive trading conditions and fees
2. Free educational resources
The main disadvantages of Fineco Bank are:
1. Not being regulated
2. Limited account types
3. Non-MT4/MT5 trading platforms
4. High platform fees
5. No cryptocurrency trading
6. Limited deposit & withdrawal options
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