FinecoBank vs Questrade 2024

Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Questrade is not publicly traded and does not operate a bank, but is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk).

FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.

Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.

To open a trading account with FinecoBank, you'll need to make an initial minimum deposit of $0.

Questrade requires a minimum deposit of $250 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FinecoBank offers Bank Wire (Deposit/Withdraw) for banking, whereas Questrade provides Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that FinecoBank offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both FinecoBank and Questrade hold 2 global Tier-1 licenses. Both FinecoBank and Questrade hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FinecoBank (94) earned a higher Trust Score than Questrade (86).

To compare the trading platforms of both FinecoBank and Questrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FinecoBank offers a better experience. With research, FinecoBank offers superior market research. Finally, we found Questrade to provide better mobile trading apps.

Here’s what trading platforms are available at FinecoBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at Questrade:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - Yes
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

Questrade provides traders 110 currency pairs (e.g., EUR/USD) compared to FinecoBank's 54 available pairs. If you are interested in trading a full range of securities, FinecoBank offers traders access to 9770 tradeable symbols, while Questrade offers access to 641 tradeable symbols; so FinecoBank offers 9129 more tradeable symbols than Questrade.

We found in our testing that Questrade offers a more diverse selection of investment options than FinecoBank, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical), Social Trading / Copy Trading and Spread Betting.