Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs TopFX, 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, making it a reliable choice for those seeking financial services with its high level of transparency. Recognized for its strong governance, FinecoBank holds two Tier-1 licenses, which are among the most trusted credentials in the financial industry. With a ForexBrokers.com Trust Score of 94 out of 99, FinecoBank is deemed highly trustworthy, making it an attractive option for investors who prioritize security and credibility.
In contrast, TopFX, founded in 2010, operates privately and is not a bank. Although it holds one Tier-1 license, which indicates a fair level of trust, its overall ForexBrokers.com Trust Score is 67 out of 99, categorizing it as high risk. This rating suggests that potential clients should exercise caution and consider their risk tolerance when engaging with TopFX. While both brokers offer distinct advantages, FinecoBank's stronger regulatory standing makes it a more reliable choice for cautious traders.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| 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 | 1 |
When it comes to commissions and fees, FinecoBank doesn't provide average spread data for forex and CFD trading, which makes it challenging to fully gauge the costs involved in trading with them. They list a spread of 1 pip for the EUR/USD but do not specify if this is an average. This is higher than what many other forex brokers typically offer. There is also a listed spread of 0.8 pips, but like the 1 pip spread, no timeframe is given. However, FinecoBank seems to offer more competitive spreads for its index CFDs. In terms of ratings, FinecoBank receives a 3.5-star rating and is ranked 50th out of 62 brokers by ForexBrokers.com for commissions and fees.
In comparison, TopFX provides more transparency and options with two account types: the ZERO account, which is spread-only, and the RAW account, which is commission-based. The RAW account has an associated commission of 2.75 EUR per side (5.50 EUR per round turn standard lot). With average spreads recorded at 0.33 pips for EUR/USD in July 2024, the all-in cost for the RAW account is about 0.88 pips, aligning with industry standards. Meanwhile, the ZERO account offers commission-free trading but features higher spreads, averaging 1.03 pips for EUR/USD in the same period. TopFX is rated 4 stars and places higher, at 40th out of 62, in the ForexBrokers.com commission and fees ranking.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| 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 comparing FinecoBank and TopFX for their available range of investments, FinecoBank stands out with a wider selection of tradable symbols, offering 9,770 options compared to TopFX's 655. Both platforms provide opportunities for forex trading through CFDs or spot contracts, but FinecoBank offers slightly fewer forex pairs, with 54 pairs compared to TopFX's 60. However, FinecoBank excels in allowing clients to purchase exchange-traded securities on U.S. and international exchanges. This feature facilitates direct investment in companies like Apple and Vodafone, which is not possible with TopFX.
While FinecoBank lacks features such as copy trading and the purchase of cryptocurrency derivatives, TopFX meets these needs with its offerings. Nevertheless, neither platform supports the direct buying of actual cryptocurrencies. In terms of investment variety quality, FinecoBank receives a higher rating of 4.5 stars compared to TopFX’s 3.5 stars and is ranked #16 among 62 brokers by ForexBrokers.com. TopFX, meanwhile, holds the #46 position. These distinctions make FinecoBank a more versatile choice for investors seeking an extensive range of securities and trading opportunities across multiple global markets.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 655 |
| Forex Pairs (Total) | 54 | 60 |
| 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 FinecoBank and TopFX, both online brokers offer a range of trading platforms and tools, but each caters to different trading needs. FinecoBank provides a proprietary platform developed in-house, which could appeal to those who prefer exclusive features unique to a single broker. However, FinecoBank is limited in offering a simulated trading environment, such as a free virtual demo account, which TopFX does provide. Both brokers support Windows-based desktop platforms and web-based trading, ensuring accessibility for various trading setups. While FinecoBank does not support popular platforms like MetaTrader 4, TopFX does include MT4 in its offerings, attracting traders familiar with this platform.
In terms of additional trading features, TopFX takes the lead with options like copy trading and the ability to trade directly from a stock chart, none of which are available with FinecoBank. Furthermore, TopFX provides a more extensive set of drawing tools for charting, offering 15 compared to FinecoBank's 7. When assessing customization options, TopFX offers more flexibility with 7 columns for watch lists, a feature not detailed for FinecoBank. Despite these differences, both brokers score a commendable 4 stars out of five for their trading platforms and tools, but FinecoBank holds a higher industry ranking at #18 compared to TopFX's #44, indicating a slight edge in overall platform performance according to ForexBrokers.com.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 | No |
| 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.
FinecoBank and TopFX both offer mobile trading apps for iPhone and Android users, making them accessible for traders on the go. Each app provides stock or forex price alerts, which is a great feature for staying informed about market movements. While neither FinecoBank nor TopFX offers watchlist symbol syncing with a client's online account, traders may find this lack of synchronization a minor inconvenience. FinecoBank's app includes six technical studies for chart analysis, while TopFX shines with 30 studies available, offering more extensive tools for technical analysis.
For traders who focus on drawing trendlines as part of their analysis, TopFX allows this feature, unlike FinecoBank. Additionally, both apps permit users to view different time frames on charts, catering to various trading styles. TopFX provides the convenience of auto-saving drawn charts and creating watchlists with real-time quotes, which FinecoBank lacks. Despite these differences, both apps are rated four stars by users for their overall mobile trading experience. In rankings, FinecoBank holds the 42nd position, while TopFX is placed at 51 out of 62 brokers, according to ForexBrokers.com.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 TopFX for market research offerings, both brokers provide forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, keeping traders informed with reliable information. They both also feature an economic calendar that highlights current and upcoming global news events. However, neither FinecoBank nor TopFX provides daily market commentary or market research from TipRanks, and both lack research tools from Acuity Trading.
TopFX stands out by offering advanced analytical tools, providing access to Autochartist and Trading Central for enhanced technical and fundamental analysis. Additionally, TopFX includes a sentiment-based trading tool that shows the ratio of long or short positions across currency pairs, adding an extra layer of insights for traders. Despite this, FinecoBank ranks higher for research, earning 4 stars and placing 33rd out of 62 brokers, while TopFX receives 3 stars and is ranked 59th.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| 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, FinecoBank offers a variety of tools to support new traders. They provide monthly online educational webinars, which can be a helpful way for beginners to learn in a structured environment. Beginners particularly benefit from FinecoBank’s library of educational videos, which cover essential trading topics. Additionally, the availability of an investor dictionary with definitions for over 50 investing terms is a valuable resource for anyone starting their trading journey. FinecoBank receives a commendable 4-star rating for its educational offerings and ranks 49th out of 62 brokers in this category according to ForexBrokers.com.
On the other hand, TopFX falls short in comparison, especially for those looking for comprehensive educational materials. It lacks both structured educational webinars and a beginner-focused video library. Furthermore, TopFX does not provide an investor dictionary, which might leave beginners searching for basic trading knowledge elsewhere. With a 3-star rating, TopFX ranks 60th out of 62 brokers for educational resources, according to ForexBrokers.com. This suggests that traders, particularly those who are new to forex or CFDs, might find more value in FinecoBank's educational offerings.
| Feature |
FinecoBank
|
TopFX
|
|---|---|---|
| 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 TopFX. FinecoBank finished with an overall rank of #25, while TopFX finished with an overall rank of #61.
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
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 67 |
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While neither FinecoBank nor TopFX offers the ability to buy actual delivered cryptocurrency, TopFX provides an opportunity to trade cryptocurrency derivatives, unlike FinecoBank, which does not offer this feature.
When comparing the funding options of online brokers FinecoBank and TopFX, FinecoBank supports ACH or SEPA transfers and bank wires, whereas TopFX offers a broader range of deposit and withdrawal methods including PayPal, Skrill, Visa or Mastercard, and bank wires, but does not support ACH or SEPA transfers.
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 | TopFX | |
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| Trust Score | 94 | 67 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TopFX Review |
| Broker Screenshots | FinecoBank | TopFX | |
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| Regulation | FinecoBank | TopFX | |
|---|---|---|---|
| Trust Score | 94 | 67 | |
| Year Founded | 1999 | 2010 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 655 | |
| Forex Pairs (Total) | 54 | 60 | |
| 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| 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 | No |
| Trading Platforms | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | FinecoBank | TopFX | |
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| Trust Score | 94 | 67 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | TopFX Review |
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