Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs TeleTrade, 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.
Founded in 1999, FinecoBank distinguishes itself as a highly trusted online broker with a Trust Score of 94 out of 99 according to ForexBrokers.com, indicating high reliability. As a publicly traded bank, FinecoBank holds two Tier-1 licenses, which are deemed highly trustworthy. This positions FinecoBank as a reliable option for traders seeking a credible financial partner in the online brokerage industry.
On the other hand, TeleTrade has been in operation since 1994 and holds a Trust Score of 71, categorizing it as an average-risk broker. Unlike FinecoBank, TeleTrade is not listed on a stock exchange and is not a bank. It does possess one Tier-1 license, providing a level of trust, but lacks Tier-2 licenses. This makes FinecoBank a more attractive choice for those prioritizing trust and regulatory backing in their online trading experience.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| Year Founded | 1999 | 1994 |
| 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 | 0 |
When comparing online brokers FinecoBank and TeleTrade regarding commissions and fees, both platforms present some unique traits. FinecoBank does not make its average spread data public for forex and CFD trading, which can make it challenging for traders to ascertain the true trading costs. It lists a spread of 1 pip for the EUR/USD and a separate spread of 0.8 pips. However, neither of these spreads is labeled as average nor is there a date range provided. Despite this, FinecoBank seems to offer lower spreads on its index CFDs.
TeleTrade, similar to FinecoBank, does not provide average spread data. Yet, TeleTrade receives a better rating in this category, holding four stars compared to FinecoBank’s 3.5 stars. Furthermore, when ranked by ForexBrokers.com out of 62 brokers for commissions and fees, FinecoBank comes in at #50, while TeleTrade holds a slightly more favorable position at #46.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 range of investments offered, FinecoBank and TeleTrade provide distinct experiences for their clients. FinecoBank impresses with an extensive list of 9,770 tradeable symbols, including 54 forex pairs, allowing traders to diversify across multiple asset classes. They provide direct access to exchange-traded securities on both U.S. and international exchanges, enabling clients to invest directly in companies like Apple and Vodafone. However, FinecoBank does not support copy trading or cryptocurrency derivatives. Its comprehensive offering earns it a commendable 4.5-star rating and a competitive rank of 16th out of 62 brokers for its range of investments.
Conversely, TeleTrade offers a more focused range, with around 500 tradeable symbols and 61 forex pairs. While TeleTrade does not provide direct access to U.S. or international exchange-traded securities, they offer both forex trading as CFDs and the ability to purchase cryptocurrency derivatives, adding a layer of flexibility for traders seeking speculative opportunities. TeleTrade supports copy trading, which can be an attractive feature for those interested in mimicking successful trading strategies. Despite its narrower selection, TeleTrade earns a respectable 3.5-star rating and ranks 45th in the same category.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 500 |
| Forex Pairs (Total) | 54 | 61 |
| 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 comparing the trading platforms and tools offered by FinecoBank and TeleTrade, both have their unique advantages. FinecoBank provides a proprietary platform developed in-house, available as a Windows-based desktop download and a web-based platform. However, it does not offer popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), nor does it provide copy trading or simulated trading options such as a free virtual demo account. FinecoBank includes 7 drawing tools for charting but lacks the ability to trade directly from a stock chart. It receives a rating of 4 stars for its trading platforms and tools, ranking 18th out of 62 brokers by ForexBrokers.com.
In contrast, TeleTrade offers more in terms of third-party platforms and trading options. It supports MT4 and MT5, giving traders familiar tools and a range of advanced features. TeleTrade also excels by offering a free virtual demo account and copy trading, including platforms like ZuluTrade. It provides a Windows-based desktop platform, a web-based option, and allows trading directly from a stock chart. Moreover, TeleTrade features 15 drawing tools for charting and has 7 columns for watch lists. Despite these advantages, it is also rated 4 stars but ranks lower, at 51st among 62 brokers according to ForexBrokers.com.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 37 | 35 |
| 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 it comes to mobile trading, both FinecoBank and TeleTrade offer apps for iPhone and Android users, complete with stock or forex price alerts to keep you informed while on the go. However, neither platform provides watchlist symbol syncing, meaning your watchlists don't automatically update across devices. While FinecoBank offers only 6 technical studies in its app, TeleTrade impresses with 35 studies and also provides the ability to draw trendlines—a feature FinecoBank lacks. Notably, TeleTrade's app can autosave your chart drawings for added convenience, whereas FinecoBank’s app cannot.
Both platforms allow viewing multiple time frames on stock or forex charts, which is great for traders monitoring short or long-term trends. TeleTrade further enhances its offering by allowing traders to create watchlists with real-time quotes, a feature not available on FinecoBank's app. Despite some differences, both apps hold a solid rating of four out of five stars. However, TeleTrade ranks higher at #25 compared to FinecoBank's #42 in ForexBrokers.com's rankings for mobile trading apps, indicating a generally more favorable evaluation of TeleTrade's app experience.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 35 |
| 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 it comes to market research, FinecoBank and TeleTrade each offer noteworthy features, although their offerings differ in certain areas. FinecoBank does not provide daily market commentary, while TeleTrade excels by offering this feature. Both brokers provide forex news from high-quality sources such as Bloomberg, Reuters, and Dow Jones. However, neither platform includes technical analysis or fundamental research tools from Autochartist or Trading Central, nor do they offer sentiment-based trading tools or market research from TipRanks and Acuity Trading. Additionally, both FinecoBank and TeleTrade feature an economic calendar that keeps users informed of global news events.
In the realm of research ratings, FinecoBank receives a commendable 4 stars, positioning it at rank 33 out of 62 brokers according to ForexBrokers.com. TeleTrade, while rated slightly lower at 3.5 stars, is ranked 38 out of 62 brokers. For users seeking detailed market insights and forex news, both brokers stand as valuable options, although FinecoBank has a slight edge in overall research ratings.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FinecoBank and TeleTrade provide educational resources aimed at traders, but their offerings cater to different levels of experience. FinecoBank is stronger in introductory education, providing beginners with over 10 educational videos specifically designed to cover trading topics. They also host online educational webinars monthly to help clients grow their trading knowledge. Moreover, FinecoBank offers an investor dictionary with explanations for over 50 investing terms. In contrast, TeleTrade lacks these beginner-focused resources, including beginner videos and monthly webinars, making it more challenging for new traders to find learning materials on their platform.
When comparing their overall educational offerings, FinecoBank earns a slightly higher rating of 4 stars, while TeleTrade stands at 3.5 stars. According to ForexBrokers.com, FinecoBank ranks #49 out of 62 brokers for educational resources, indicating room for improvement but still a stronger position than TeleTrade, which ranks #61. Despite both platforms scoring relatively low across various educational metrics, FinecoBank provides a few more opportunities for beginners to expand their understanding of trading essentials.
| Feature |
FinecoBank
|
TeleTrade
|
|---|---|---|
| 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 TeleTrade. FinecoBank finished with an overall rank of #25, while TeleTrade finished with an overall rank of #50.
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
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 71 |
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Comparing FinecoBank and TeleTrade in terms of cryptocurrency offerings reveals that while neither platform allows the purchase of actual delivered cryptocurrency, TeleTrade offers the ability to buy cryptocurrency derivatives, whereas FinecoBank does not.
FinecoBank and TeleTrade offer bank wire transfers for depositing or withdrawing account funds, with FinecoBank additionally supporting ACH and SEPA transfers, while TeleTrade provides the option for Visa, Mastercard, and Skrill but neither supports PayPal.
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 | TeleTrade | |
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| Trust Score | 94 | 71 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
| Broker Screenshots | FinecoBank | TeleTrade | |
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| Regulation | FinecoBank | TeleTrade | |
|---|---|---|---|
| Trust Score | 94 | 71 | |
| Year Founded | 1999 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 500 | |
| Forex Pairs (Total) | 54 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | TeleTrade | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | FinecoBank | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 35 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 |
| Overall | FinecoBank | TeleTrade | |
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| Trust Score | 94 | 71 | |
| Winner | check_circle | ||
| Review | FinecoBank Review |
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