Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and FinecoBank are both well-established in the financial world, with IG founded in 1974 and FinecoBank in 1999. Both institutions are publicly traded companies and operate as banks. When it comes to trustworthiness, IG stands out with an impressive Trust Score rating of 99 out of 99, given by ForexBrokers.com. This rating indicates that IG is highly trusted, boosted by its possession of eight Tier-1 licenses and two Tier-2 licenses, which signal a strong regulatory standing.
Meanwhile, FinecoBank also enjoys a solid reputation, holding a trust score of 94. As a comparison, FinecoBank holds two Tier-1 licenses but lacks Tier-2 licenses, which still places it in a trusted category. Both brokers are well-regulated, but IG's broader regulatory coverage with more Tier-1 licenses provides an extra layer of assurance to its clients.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Year Founded | 1974 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of IG and FinecoBank, IG stands out for its competitive pricing, especially for active traders through its Forex Direct accounts. IG offers various execution methods and caters to both standard account users and high-volume traders with rebates for large transactions. For July 2023, IG's main Forex Direct account showed average spreads of 0.62 pips, leading to an all-in cost of 0.82 pips after including commissions. For CFD accounts, the average spreads were 0.69 pips during active trading hours, slightly better than the industry average. IG's DMA account further reduces costs for traders with higher volumes by offering tiered commission rates, improving the effective spread. For these reasons, IG earns a 5-star rating for its fees and ranks #8 out of 62 brokers on ForexBrokers.com.
In contrast, FinecoBank's transparency regarding its trading costs is limited, as it does not publish average spread data for forex and CFD trading. The broker lists a spread of 1 pip for the EUR/USD, which tends to be higher than standard spreads offered by other forex brokers. There is no specified average spread, nor a corresponding date range for the provided data. However, it appears Fineco might offer lower spreads on index CFDs. Due to these factors, FinecoBank receives a rating of 3.5 stars and is ranked #50 out of 62 brokers for commissions and fees by ForexBrokers.com.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by online brokers IG and FinecoBank, it's clear that both have a strong focus on providing a diverse selection to their clients. IG stands out with an impressive offering of 19,537 tradeable symbols and 97 forex pairs, making it a top choice for those seeking variety in their trading options. In contrast, FinecoBank provides 9,770 tradeable symbols and 54 forex pairs, still offering a substantial selection but not as extensive as IG. Both brokers allow clients to trade exchange-traded securities on U.S. and international exchanges, which means investors can buy stocks like Apple and Vodafone directly. However, IG provides the additional option of trading cryptocurrency derivatives, while FinecoBank does not. Neither broker supports copy trading or the purchase of actual cryptocurrency.
In terms of third-party evaluations, IG receives a stellar 5-star rating for its range of investments and holds the #4 rank out of 62 brokers in this category according to ForexBrokers.com. FinecoBank, on the other hand, earns a respectable 4.5-star rating and is ranked #16 in the same assessment. Both brokers clearly cater to traders seeking access to global securities and forex trading, with IG slightly edging out FinecoBank with its broader assortment and additional features like cryptocurrency derivatives trading. This makes IG a preferred choice for those who prioritize having a wide array of options at their fingertips.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 9770 |
| Forex Pairs (Total) | 97 | 54 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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 IG to FinecoBank for their trading platforms and tools, both brokers offer proprietary platforms developed in-house that cater to different trading needs. IG stands out by providing users with a free virtual demo account, allowing new traders to practice trading strategies without risking real money, a feature FinecoBank does not offer. Both brokers deliver a comprehensive trading experience with a Windows-based desktop platform and a web-based trading platform. However, IG takes the lead with additional support for MetaTrader 4, which is popular among traders for its advanced features, while FinecoBank does not offer this platform.
Charting capabilities also differ notably between IG and FinecoBank. IG offers 20 charting drawing tools, allowing traders to make more detailed analyses compared to FinecoBank's 7. Moreover, IG provides the facility to trade directly from stock charts, enhancing the trader's ability to respond quickly to market movements, a feature not available with FinecoBank. IG is rated 5 stars and ranked #2 out of 62 brokers for its trading platforms and tools, reflecting a higher overall satisfaction compared to FinecoBank's 4-star rating and #18 ranking. Both brokers do not offer copy trading services, focusing instead on their unique platform strengths.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 37 |
| Charting - Drawing Tools (Total) | 20 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 5 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IG and FinecoBank, both platforms cater to iPhone and Android users and provide essential features such as stock and forex price alerts. However, IG stands out with enhanced functionality for traders. The ability to sync watchlists between IG's mobile app and online account provides seamless transitions and updates for users, a feature that FinecoBank does not offer. For chart analysis, IG takes the lead with 33 technical studies compared to FinecoBank's 6, and it supports trendline drawing and auto-saving of chart drawings, which FinecoBank lacks.
The user experience on IG's mobile app also benefits from the option to create watchlists with real-time quotes, a feature absent in FinecoBank's offering. Both platforms allow viewing of different time frames on charts, enhancing trading analysis. In terms of user ratings, IG excels with a 5-star rating and holds the number one spot in the Mobile Trading Apps category among 62 brokers, according to ForexBrokers.com. FinecoBank, while still performing decently with a 4-star rating, is positioned much lower at rank 42. These differences highlight IG's more comprehensive suite of features, making it a preferred choice for traders seeking advanced mobile trading capabilities.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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.
When it comes to market research, IG outshines FinecoBank by offering a comprehensive array of features tailored for traders. IG provides daily market commentary, giving users timely insights that FinecoBank does not offer. Both platforms deliver forex news from top-tier sources, ensuring traders have access to reliable information. However, IG stands out with its use of Autochartist tools for technical and fundamental analysis, which FinecoBank lacks. Additionally, IG supports a sentiment-based trading tool that tracks market movements, a feature not available with FinecoBank. IG also offers market research through TipRanks and various tools from Acuity Trading, including Signal Centre, giving it a broader range of resources for informed trading decisions.
Both IG and FinecoBank offer an economic calendar that keeps users updated on global news events, but it's clear that IG provides a more robust research experience overall. This is reflected in IG's 5-star research rating and second-place ranking among 62 brokers by ForexBrokers.com. In comparison, FinecoBank holds a 4-star rating and comes in at #33 in the same category. For those who prioritize market research as part of their trading strategy, IG offers a more extensive and highly-rated toolkit that can enhance trading outcomes.
| Feature |
IG
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking education in forex and CFD trading, IG stands out with a comprehensive range of resources. It offers more than ten educational pieces, including articles, videos, and archived webinars, primarily focused on these trading areas. Beginners can also benefit from at least one live educational webinar each month, with the convenience of accessing a searchable archive of past sessions. Additionally, IG provides a broad selection of beginner and advanced educational videos tailored to different levels of trading experience, alongside a dictionary with definitions for over 50 investing terms. With a top ranking and an impressive five-star education rating from ForexBrokers.com, IG is highly recommended for those new to trading.
FinecoBank also supports beginner traders with a selection of educational resources, including a series of webinars held monthly and beginner-focused trading videos that help newcomers understand the market. However, FinecoBank falls short in areas such as advanced educational content and maintaining a searchable archive for previously conducted webinars. Despite offering an investor dictionary similar to IG's, FinecoBank's educational offerings have received a four-star rating, placing them at rank #49 out of 62 brokers in the ForexBrokers.com education category. While FinecoBank provides solid resources for beginners, those looking for a more in-depth and varied educational experience might find IG to be a better fit.
| Feature |
IG
|
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 IG is better than FinecoBank. IG finished with an overall rank of #1, while FinecoBank finished with an overall rank of #25.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 94 |
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When comparing online brokers IG and FinecoBank, it is noteworthy that neither offers the ability to purchase actual (delivered) cryptocurrencies, but IG does provide the option to invest in cryptocurrency derivatives, whereas FinecoBank does not.
IG and FinecoBank both support ACH and SEPA transfers, but while IG also offers PayPal, Visa, and Mastercard options alongside bank wires, FinecoBank only provides bank wires without the availability of PayPal or card options.
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 | IG | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | IG Review | FinecoBank Review |
| Broker Screenshots | IG | FinecoBank | |
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| Regulation | IG | FinecoBank | |
|---|---|---|---|
| Trust Score | 99 | 94 | |
| Year Founded | 1974 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 9770 | |
| Forex Pairs (Total) | 97 | 54 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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 | IG | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | No |
| Funding | IG | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 5 | N/A | |
| Charting - Indicators / Studies (Total) | 33 | 37 | |
| Charting - Drawing Tools (Total) | 20 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 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 | IG | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | FinecoBank Review |
| Overall | IG | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | IG Review | FinecoBank Review |
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