Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FinecoBank, 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.
FP Markets, established in 2005, is a well-regarded online broker, although it does not hold status as a publicly traded company or a bank. Despite this, it has earned a respectable Trust Score of 89 from ForexBrokers.com. This score reflects its possession of two Tier-1 licenses and one Tier-2 license, suggesting that while it is not at the very top tier of trust, it remains a trusted institution for those considering online trading options.
In contrast, FinecoBank, which began operations in 1999, stands as both a bank and a publicly traded entity. With a ForexBrokers.com Trust Score of 94, FinecoBank demonstrates a commendable level of credibility. It shares the holding of two Tier-1 licenses with FP Markets but does not possess any Tier-2 licenses. These elements mark FinecoBank as a more trusted choice according to ForexBrokers.com, making it a reliable option for those seeking banking and online brokerage services.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Year Founded | 2005 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
FP Markets stands out with its competitive pricing structure for its MetaTrader and cTrader offerings, particularly with its commission-based ECN accounts. Recognized as Best in Class for Commissions and Fees in the 2024 Annual Awards, FP Markets delivers substantial value, especially for traders opting for the Raw ECN account, which offers spreads averaging 0.1 pips. On the other hand, its Standard account presents higher spreads, making it a less cost-effective choice. Additionally, the Iress platform provides Direct Market Access, although the Iress ViewPoint accounts demand relatively high minimum deposits, catering to active traders with substantial balances. FP Markets features a five-star rating for commissions and fees and is ranked #6 out of 62 brokers by ForexBrokers.com.
FinecoBank offers an unclear fee structure due to the absence of published average spread data for forex and CFD trading, posing a challenge in evaluating its trading costs accurately. The bank reports spreads for EUR/USD at about 1 pip and offers a 0.8 pip spread, though these values lack specified date ranges or confirmation as averages. While Fineco may offer competitive spreads on index CFDs, its broader offerings appear less competitive with a 3.5-star rating for commissions and fees. It ranks #50 out of 62 brokers according to ForexBrokers.com.
In conclusion, FP Markets provides a transparent and favorable fee structure, particularly beneficial for traders utilizing its Raw ECN accounts and Iress platform with the corresponding deposit requirements. Conversely, FinecoBank's less transparent pricing means potential traders may find better value elsewhere, highlighted by its lower ranking and star rating compared to FP Markets. Traders seeking clear, competitive pricing might lean towards FP Markets, given its well-regarded reputation in the industry.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment options available at FP Markets and FinecoBank, both brokers stand out with some unique offerings. FP Markets provides a wide array of tradable symbols, totaling 10,000, alongside 71 forex pairs. While it does offer forex trading through CFDs and spot contracts, FP Markets does not enable direct purchases of U.S. or international exchange-traded securities. However, investors can engage in cryptocurrency derivatives, and copy trading is available, providing diverse trading opportunities. FP Markets receives a strong rating of 4.5 stars for its range of investments, ranking #18 among 62 brokers in the category.
FinecoBank, on the other hand, offers access to 9,770 tradable symbols, including 54 forex pairs, with similar forex trading through CFDs and spot contracts. A noteworthy advantage of FinecoBank is the opportunity to invest in actual U.S. and international exchange-traded securities, such as Apple and Vodafone shares, an option not available with FP Markets. Unlike FP Markets, FinecoBank does not provide copy trading or cryptocurrency derivatives. Rated at 4.5 stars for its range of investments, FinecoBank ranks slightly higher at #16 among 62 brokers, reflecting its broad access to traditional stock markets.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 9770 |
| Forex Pairs (Total) | 71 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| 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 FP Markets and FinecoBank in terms of their trading platforms and tools, there are several key differences and similarities that traders should consider. FP Markets stands out by offering a free virtual demo account, allowing users to simulate trading without financial risk, a feature not provided by FinecoBank. Both brokers offer proprietary trading platforms, ensuring tailored user experiences, and each supports Windows-based desktop platforms and web-based trading options. FP Markets also supports popular platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), expanding its appeal to traders familiar with these tools, a feature absent from FinecoBank's offerings. In addition, FP Markets caters to those interested in social trading with its copy trading feature, unlike FinecoBank.
In terms of charting capabilities, FP Markets provides 17 drawing tools, outpacing FinecoBank, which offers only seven. Additionally, FP Markets allows users to trade directly from stock charts, enhancing the trading experience. While both brokers are rated four stars for their trading platforms and tools, FP Markets is ranked 23rd and FinecoBank 18th out of 62 brokers by ForexBrokers.com. For creating watchlists, FP Markets offers seven columns to organize information, whereas such a feature isn't quantified by FinecoBank. These distinctions might impact a trader's decision based on personal priority for features and tools.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 17 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When considering mobile trading apps, both FP Markets and FinecoBank offer applications for iPhone and Android users, providing essential accessibility for traders on the go. Each platform supports price alerts for stocks and forex, ensuring users are promptly notified about market changes. However, neither FP Markets nor FinecoBank offers the syncing of watchlist symbols between the mobile app and the online account, which might be a limitation for those who value real-time updates across devices.
FP Markets stands out by leveraging MetaTrader for its charting capabilities, allowing users a comprehensive range of technical studies, whereas FinecoBank provides six technical studies. FP Markets also provides tools like trendline drawing and multi-time frame viewing, features that are not fully available with FinecoBank. Additionally, FP Markets supports auto-saving of chart drawings and enables the creation of watchlists with real-time quotes—a feature FinecoBank does not offer. With these functionalities, FP Markets is rated slightly higher in rankings with a mobile trading app position of #18 compared to FinecoBank's #42, even though both share a four-star rating.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
FP Markets and FinecoBank provide a range of market research tools for traders, though with some notable differences. FP Markets stands out by offering daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters. Both brokers provide comprehensive economic calendars that help traders keep track of news events globally. However, FP Markets goes a step further by integrating advanced technical analysis and fundamental research tools from companies like Autochartist and Trading Central. These tools can greatly benefit traders looking for detailed market insights and strategic trading opportunities. In contrast, FinecoBank lacks offerings from these companies and does not provide a sentiment-based trading tool, which FP Markets includes to help traders assess long and short position ratios across currency pairs.
Despite these differences in specific features, both brokers are highly regarded for their overall research capabilities, each earning a 4-star rating. Nevertheless, FP Markets claims a higher position in the ForexBrokers.com ranking, coming in at #25 compared to FinecoBank's #33 among 62 brokers. This slight edge might be an important factor for traders who prioritize research tools and market insights in their trading strategy. Whether you prefer the additional technical analysis features of FP Markets or the reliable fundamentals provided by both platforms, each broker offers valuable tools for informed trading decisions.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | 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, FP Markets provides more comprehensive tools compared to FinecoBank. FP Markets offers a rich collection of over ten educational pieces focused on forex and CFDs, along with an impressive library of both beginner and advanced trading videos. In addition to these resources, FP Markets hosts online webinars each month and maintains an easily accessible archive of recorded sessions. This robust educational offering makes it a top choice for those embarking on their trading journey.
FinecoBank, while still offering some educational material, does not quite match the breadth of FP Markets' offerings. Although they do provide monthly webinars and a set of beginner videos, they lack a comprehensive archive of past webinars and a wide selection of advanced learning materials. Both platforms do offer an investor dictionary with essential trading terms, but FP Markets continues to outshine FinecoBank due to its wider range of in-depth educational content. Consequently, FP Markets leads with a higher education ranking over FinecoBank as per ForexBrokers.com evaluations.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FP Markets is better than FinecoBank. FP Markets finished with an overall rank of #19, while FinecoBank finished with an overall rank of #25.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
FinecoBank
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 89 | 94 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
FP Markets provides the option to trade cryptocurrency derivatives, unlike FinecoBank which does not offer any cryptocurrency derivative trading; however, neither broker allows the purchase of actual (delivered) cryptocurrency.
FP Markets supports account fund transfers through PayPal, Skrill, Visa, Mastercard, and bank wires, but not via ACH or SEPA transfers, whereas FinecoBank allows ACH, SEPA, and bank wire transfers but does not support PayPal, Skrill, Visa, or Mastercard transactions.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FP Markets | FinecoBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 94 | |
| Winner | check_circle | ||
| Review | FP Markets Review | FinecoBank Review |
| Broker Screenshots | FP Markets | FinecoBank | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | FP Markets | FinecoBank | |
|---|---|---|---|
| Trust Score | 89 | 94 | |
| Year Founded | 2005 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | Yes | |
| 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) | FP Markets | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 9770 | |
| Forex Pairs (Total) | 71 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| 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 | FP Markets | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | FP Markets | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 17 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FinecoBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FinecoBank | |
|---|---|---|---|
| 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 | FP Markets Review | FinecoBank Review |
| Overall | FP Markets | FinecoBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 94 | |
| Winner | check_circle | ||
| Review | FP Markets Review | FinecoBank Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill