CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 72%-80.5% 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.
What's in this review?
Get your first 50 trades commission free with Fineco
Fees apply. Your capital is at risk.
- Market leading platform
- No minimum deposit, no conversion fee, no monthly fee
- Your first 50 share trades are free until 30/09/2020
What is FinecoBank?
FinecoBank is one of Europe’s largest banks but is pretty new to the UK. It’s been around since 1999 and specialises in brokerage, aiming to allow you to trade contracts for difference (CFDs), futures, stocks, currencies, bonds, exchange-traded funds (ETFs), options and funds.
Trading
Fineco handles 75,000 executed orders per day. It prides itself on its advanced trading platform and low prices.
Features include:
- Flat trading fee
- Advanced platform with live prices, personalised dashboards and push notifications
- Mobile trading platform
- Access world markets in the local currency without paying conversion fees
Investing
Fineco also allows you to invest in funds, with a platform fee determined by the amount you invest.
Features include:
- Access funds from premium asset managers worldwide
- Access pre-packaged funds and choose funds that suit your needs
- Geographically diversified funds (as in, funds in lots of countries)
- Choose funds based on your risk level
Fees and charges
Shares
There’s a fixed local currency price for shares.
| Share type | Cost (per order) |
|---|---|
| UK shares | £2.95 |
| US shares | $3.95 |
| Canada TSX | CAD$10 |
| European shares | €3.95 |
Bonds
Bonds have a flat fee of £6.95 per order.
Funds
You are charged for funds based on the value that you invest.
| Value of funds | Annual fee (charged monthly) |
|---|---|
| On the first £250,000 | 0.25% |
| On the value between £250,000 and £1m | 0.15% |
| On the value between £1m and £2m | 0.05% |
| On the value over £2m | Free |
What can I invest in with Fineco?
With Fineco you get access to 26 global markets and can trade in:
- UK shares and ETFs
- US and EUR shares and ETFs
- CFDs
- Futures
- Foreign exchange (forex)
- Options
- Funds
- Bonds
Pros and cons of Fineco
Pros
- Flat fees on UK, EU and US stocks and shares
- Great charting tools
Cons
- Can be quite complex and daunting for beginners
The platform
Fineco’s platform is really advanced, which is great if you’re experienced in investing and understand all the charts. If you’re not, it caters for you too, with its free webinars, live events and collection of videos to teach you all about share trading.
Features of the platform include:
- Advanced charting. You can change timeframes, view multiple charts, modify orders from the charts, and personalise the charts with over 90 different technical analysis indicators available.
- Daily news reports. Keep up to date with market trends in major indices.
- Watchlist. Keep a list of instruments that you’re interested in.
- Calendar. Keep up to date on the economic calendar.
- Live notifications. Get push notifications about market changes.
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All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Capital is at risk.
Our verdict
Fineco is pretty new to the UK, so it’s still relatively unknown, but it’s pretty popular around Europe. Its low-cost share trading is one of its biggest strengths, putting it as one of the cheapest we’ve reviewed.
It doesn’t have the easiest-to-use platform on offer. This is mainly because it’s so advanced, aiming itself towards experienced investors more than beginners. It makes up for this with its learning resources and research tools.
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