FinecoBank UK review

Get your first 100 trades commission free with Fineco

Fees apply. Your capital is at risk.

• Market leading platform
• No minimum deposit, no conversion fee, no monthly fee
• Get £500 in trading commissions to use in the first 3 months (T&Cs apply)

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Capital at risk

FinecoBank (often shortened to just “Fineco”) is a popular choice for those that want to be exposed to global markets. It has a pretty detailed platform and lets you trade more than 75,000 financial instruments worldwide across 26 global markets. Find out some key features of Fineco, how much it costs and some of its pros and cons.

What is FinecoBank?

What accounts are available with Fineco?

There are two accounts available with Fineco:

• General investment account. This is the standard investment account. There aren’t any tax benefits to this account. Most people choose this account once they’ve used up their ISA allowance for the year.
• Stocks and shares ISA. A stocks and shares ISA lets you invest up to an annual allowance without paying any tax on your profits. The tax-free allowance for the 2022/2023 tax year is £20,000.

Fineco trading

Fineco handles more than 200,000 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 convers
  ion fees

Shares CFDs

You can trade CFDs on shares. These let you go long or short without any commission.

Foreign exchange and indices CFDs and futures on commodities

You can trade CFDs on foreign currency and indices. You can also trade futures on commodities, such as cocoa, coffee and sugar.

Options

You can trade options contracts, which give you the option to buy at a certain price. You can trade the volatility index (VIX) and options on S&P, Dow Jones, NASDAQ and Russell, as well as US stocks.

Futures

You can trade futures contracts, which let you speculate on price movements and lock in a price for a future purchase. We have a whole guide on futures contracts if you want to find out how they work.

Fineco 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

Regular investment plan

Fineco has a regular investment plan that lets you invest £50 per month or more into funds. It works automatically and has a flat fee of £2.95 per month.

This plan lets you take advantage of pound cost averaging, which works with the theory that if you invest regularly then you don’t have to try to time the market.

This plan is suited to investors who don’t want to choose individual stocks and shares and want to invest regularly.

Fees and charges

The fees you are charged depends on what you invest and sometimes how much money you invest.

Shares

There’s a fixed local currency price for shares.

Bonds

Bonds have a flat fee of £6.95 per order.

Funds

You are charged for funds based on the value that you invest.

Fineco features

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.

Is Fineco safe?

FinecoBank is authorised by the Bank of Italy and subject to limited regulation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority. FinecoBank is a member of Italy’s National Interbank Deposit Guarantee Fund and National Guarantee Fund.

Fineco customer reviews

Finder surveyed Fineco customers in December 2020. Its customers said that it has excellent pricing and that it’s a good platform.

Some said they weren’t impressed with the customer care service.

Pros and cons of Fineco

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.

Get started by visiting FinecoBank and opening an account. Still not sure? Compare other share trading platforms with our comparison table.

Frequently asked questions

• Does Fineco offer an ISA?

  Yes, Fineco has a stocks and shares ISA.

• How do I add money to my Fineco account?

  Sign in to your account and click on the three lines (known as a hamburger menu), then select “bank transfer” under main services. You may need to confirm some details with Fineco.