Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs RoboForex, 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.
FinecoBank, established in 1999, is a publicly traded bank, distinguishing itself with a high Trust Score of 94 out of 99 according to ForexBrokers.com. This score places FinecoBank in the "highly trusted" category. The broker holds two Tier-1 licenses, underscoring its strong regulatory standing. As a financial institution listed on a stock exchange, FinecoBank offers an added layer of transparency and investor confidence, appealing to those prioritizing security and regulatory compliance in their online trading experience.
In contrast, RoboForex, founded in 2009, operates as a privately owned venture with a Trust Score of 73, categorizing it as presenting an average risk level. While RoboForex holds one Tier-1 license, unlike FinecoBank, it does not possess any Tier-2 licenses and is not a bank. For investors evaluating their options, RoboForex might appeal to individuals who are comfortable with its regulatory profile and are looking for alternative online trading platforms.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
FinecoBank and RoboForex each offer unique commission and fee structures, impacting their overall cost-effectiveness for traders. FinecoBank indicates a spread of 1 pip for EUR/USD trades, and another listing at 0.8 pips. These figures, though unconfirmed as average values, suggest higher-than-average costs compared to typical forex brokers. It appears, however, that Fineco may provide more favorable spreads for index CFDs, potentially lowering trading costs in that area.
In comparison, RoboForex presents average spreads of 1.3 pips for EUR/USD on both its Procent and Pro accounts, which are considered relatively high. This may make RoboForex less competitive in terms of forex trading costs. Despite these higher spreads, neither broker stands out significantly in their commission and fee structures within the industry.
When it comes to ratings, both FinecoBank and RoboForex receive 3.5 stars out of 5 for commissions and fees, reflecting moderate customer satisfaction in this area. In rankings, FinecoBank is positioned slightly better at #50 out of 62 brokers, while RoboForex is ranked at #54, according to ForexBrokers.com. These rankings demonstrate how both brokers still have room for improvement in offering competitive pricing.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.3 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments available, both FinecoBank and RoboForex have a lot to offer. FinecoBank boasts an impressive 9,770 tradeable symbols, compared to RoboForex's 8,400. For those interested in forex trading, FinecoBank offers a broader selection with 54 tradeable forex pairs, while RoboForex provides 28 pairs. If you're keen on trading stocks directly from U.S. or international exchanges, FinecoBank is the option for you as it allows the buying of shares like Apple on NASDAQ and Vodafone on the London Stock Exchange. In contrast, RoboForex focuses more on forex and other CFD trading, omitting direct stock purchases from major exchanges.
Looking further into unique offerings, RoboForex provides copy trading and the option to trade cryptocurrency derivatives, features that FinecoBank doesn't offer. However, neither platform supports the purchase of actual cryptocurrencies. Despite these differences, both FinecoBank and RoboForex hold an equal rating of 4.5 stars for their range of investments. According to ForexBrokers.com, FinecoBank is slightly more favored, ranked 16th amongst 62 brokers for investment range, whereas RoboForex follows at 20th place.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 8400 |
| Forex Pairs (Total) | 54 | 28 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | Yes |
| 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 considering trading platforms and tools, FinecoBank and RoboForex each offer unique features tailored to different trader needs. FinecoBank has developed its own in-house trading platform, which is accessible via a Windows-based desktop application and a web-based browser. However, it lacks a simulated trading environment, preventing new traders from practicing without financial risk. On the other hand, while RoboForex does not have a proprietary platform, it supports the popular MetaTrader 4 and MetaTrader 5, which are highly regarded in the trading community. These platforms offer a simulated trading feature through free virtual demo accounts, appealing to both beginners and seasoned traders seeking practice and strategy testing.
Regarding advanced tools, both FinecoBank and RoboForex achieve a 4-star rating in overall trading platform capabilities, yet their offerings diverge. RoboForex provides a broader selection of drawing tools, giving users access to 15 compared to FinecoBank's 7. Additionally, RoboForex supports copy trading and enables direct trades from a stock chart, enhancing its appeal to those looking for diverse trading strategies. Although FinecoBank is ranked higher at #17 compared to RoboForex’s #43 by ForexBrokers.com for its technical sophistication, traders may favor RoboForex for its customizable and flexible trading experience, underpinned by the widely trusted MetaTrader platforms.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FinecoBank and RoboForex, both brokers are available on iPhone and Android devices, and they provide stock or forex price alerts to their users. However, neither platform supports syncing watchlist symbols between the mobile app and their online account, requiring users to manually manage their lists on multiple platforms. In terms of technical features, RoboForex stands out by offering 30 technical studies for charting, significantly more than FinecoBank's six studies. RoboForex also allows users to draw trendlines and autosaves these drawings on stock or forex charts, which FinecoBank does not. Both apps enable viewing multiple time frames on charts, but RoboForex also offers the added benefit of creating watchlists with real-time quotes, unlike FinecoBank.
Despite these differences, both mobile trading apps share a solid user rating of four stars. When it comes to rankings by ForexBrokers.com, FinecoBank holds the 42nd position out of 62 brokers, slightly ahead of RoboForex, which is positioned at 43rd in the Mobile Trading Apps category. This comparison highlights RoboForex as the app with a more comprehensive set of features for those who prioritize charting tools and customization, while FinecoBank maintains its competitive edge in overall user satisfaction and industry ranking.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and RoboForex in terms of market research offerings, each platform has its own strengths and weaknesses. FinecoBank stands out by providing forex news from top-tier sources, like Bloomberg and Reuters, which helps traders keep abreast of crucial market developments. Additionally, it offers an economic calendar to track global economic events. However, it lacks in several areas, such as daily market commentary, tools from Autochartist and Trading Central, and sentiment-based trading instruments. Despite these gaps, FinecoBank is ahead of RoboForex in research ratings with a score of four out of five stars, ranking it 33rd out of 62 brokers in the ForexBrokers.com Research category.
On the other hand, RoboForex offers a daily market commentary feature, which is essential for traders looking for regular updates and insights. It also excels with its partnership with Trading Central, providing additional technical analysis resources, and Acuity Trading for more diverse research tools, enhancing traders’ analytical capabilities. Like FinecoBank, RoboForex supports forex news from premium sources and includes an economic calendar. Yet, it falls short by not having sentiment-based tools and receiving a slightly lower research rating of 3.5 stars. This places RoboForex at a 37th rank in the same research category by ForexBrokers.com. Overall, both brokers offer valuable tools for traders, with FinecoBank slightly edging ahead in rankings.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners between FinecoBank and RoboForex, FinecoBank offers more for those starting their trading journey. FinecoBank provides monthly educational webinars, making it easier for novice traders to gain insight and guidance in real time. Additionally, FinecoBank offers a selection of more than ten beginner-friendly educational videos that cover various trading topics, and they provide an investor dictionary containing definitions of over 50 investing terms. These resources collectively contribute to FinecoBank's strong 4-star rating for education.
On the other hand, RoboForex falls short in offering comprehensive educational support for beginners. It does not provide monthly webinars or a broad selection of educational videos focusing on beginner topics. Furthermore, RoboForex lacks an investor dictionary with numerous term definitions that can aid new traders. Consequently, RoboForex has received a slightly lower education rating of 3.5 stars. Overall, FinecoBank holds a higher rank in educational offerings, standing at #49 out of 62 brokers, compared to RoboForex's #56 position.
| Feature |
FinecoBank
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FinecoBank is better than RoboForex. FinecoBank finished with an overall rank of #25, while RoboForex finished with an overall rank of #46.
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.
| Feature |
FinecoBank
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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 73 |
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FinecoBank does not provide the option to purchase actual delivered cryptocurrency or cryptocurrency derivatives, whereas RoboForex does not offer the purchase of actual delivered cryptocurrency but does provide the option to trade cryptocurrency derivatives.
While both FinecoBank and RoboForex provide ACH and SEPA transfer options as well as bank wire services for depositing and withdrawing funds, RoboForex also offers additional flexibility with options like PayPal, Skrill, and Visa or Mastercard, which are not available with FinecoBank.
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 | FinecoBank | RoboForex | |
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| Trust Score | 94 | 73 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | RoboForex Review |
| Broker Screenshots | FinecoBank | RoboForex | |
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| Regulation | FinecoBank | RoboForex | |
|---|---|---|---|
| Trust Score | 94 | 73 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | Yes | No | |
| 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) | FinecoBank | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 8400 | |
| Forex Pairs (Total) | 54 | 28 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | Yes | |
| 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 | FinecoBank | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.3 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FinecoBank | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | RoboForex | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | RoboForex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | RoboForex | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FinecoBank | RoboForex | |
|---|---|---|---|
| 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 | FinecoBank Review | RoboForex Review |
| Overall | FinecoBank | RoboForex | |
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| Trust Score | 94 | 73 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | RoboForex Review |
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