Written by ForexBrokers.com
In this head to head comparison of XM Group 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.
Founded in 2009, XM Group is an online broker recognized for holding 4 Tier-1 licenses, which are deemed highly trusted. While not publicly traded like a traditional bank, XM Group maintains a strong presence with a Trust Score rating of 88 from ForexBrokers.com, categorizing it as trusted. In addition, XM Group holds 1 Tier-2 license, further bolstering its reputable standing among users.
FinecoBank, established earlier in 1999, operates not only as a publicly traded company but also as a recognized banking entity. With a Trust Score rating of 94 from ForexBrokers.com, it is considered highly trusted. Despite holding fewer Tier-1 licenses—2 in total—compared to XM Group, FinecoBank's status as both a bank and its public trading status contribute to its strong reliability image, even without any Tier-2 licenses.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Year Founded | 2009 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
Comparing the commissions and fees of XM Group with FinecoBank provides insight into their cost structures for trading. XM Group, rated 4 out of 5 stars in this category, offers standard account spreads that are noted for being expensive. However, specific average spread information for their commission-based XM Zero account is not publicly available, making it challenging for traders to precisely evaluate costs. Despite this, XM Group ranks #33 out of 62 brokers according to ForexBrokers.com, reflecting a relatively competitive position in terms of commissions and fees.
In contrast, FinecoBank, with a rating of 3.5 out of 5 stars for commissions and fees, lacks transparency as it does not provide average spread data for forex and CFD trading. This makes it hard to determine the actual cost of trading. Their listed spread for the EUR/USD is 1 pip, and in some instances, 0.8 pips, but without any clarification if these are average spreads or specific to certain time frames. Nonetheless, FinecoBank appears to offer lower spreads on its index CFDs which may be attractive to some traders. Its ranking of #50 among 62 brokers by ForexBrokers.com indicates a less favorable standing in this comparison.
In summary, while XM Group presents a pricier spread for their standard account, they maintain a higher ranking and star rating due to their general competitive edge in commissions and fees, despite the lack of detailed spread information for the XM Zero account. On the other hand, FinecoBank, with less clarity on spread averages and higher assumed trading costs, ranks lower, making XM Group a potentially more appealing choice for those particularly concerned about trading costs.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and FinecoBank each provide a comprehensive selection of investment options, catering to traders and investors with varying interests. XM Group offers forex trading as a CFD, and so does FinecoBank, making them suitable for those looking to trade Forex. XM Group boasts a total of 1,394 tradeable symbols, while FinecoBank features a more extensive roster with 9,770 symbols. If you're focusing specifically on forex pairs, XM Group leads slightly, offering 55 pairs compared to FinecoBank's 54. Both brokers allow for investing in exchange-traded securities on U.S. and international exchanges, enabling clients to purchase shares like Apple and Vodafone directly.
XM Group sets itself apart with the option for copy trading, a feature FinecoBank doesn't offer. When it comes to cryptocurrencies, neither broker provides the ability to buy actual delivered cryptocurrency; however, XM Group does allow traders to engage in cryptocurrency derivatives, which is not an option at FinecoBank. Despite these offerings, both brokers hold a rating of 4.5 stars for the range of investments, although FinecoBank is ranked slightly higher at #16 out of 62 brokers, compared to XM Group's #23, on ForexBrokers.com.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 9770 |
| Forex Pairs (Total) | 55 | 54 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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 it comes to trading platforms and tools, XM Group and FinecoBank each offer unique features that cater to different types of traders. XM Group provides a comprehensive trading experience with access to popular MetaTrader platforms, MT4 and MT5, for both Windows-based desktops and web browsers. They also support paper trading through a virtual demo account, which is ideal for beginners looking to practice before diving into real trading. On the other hand, FinecoBank does not offer a demo account but excels with its own proprietary trading platform, designed for seamless integration and user-friendliness across Windows desktops and web browsers.
XM Group stands out in the realm of copy trading, offering this service while FinecoBank does not provide such functionality. In terms of charting tools, XM Group presents a wider array of 15 drawing tools compared to FinecoBank's 7, and allows traders the convenience to execute trades directly from stock charts—an option not available with FinecoBank. Despite these differences, both brokers have secured a solid 4-star rating for their trading platforms and tools, with FinecoBank ranked slightly higher at #18 compared to XM Group's #30 on ForexBrokers.com. These distinctions make each broker appealing to distinct trading personas based on platform preference and the necessity of practice trading.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both XM Group and FinecoBank offer mobile trading applications compatible with iPhone and Android devices. These apps are designed to facilitate seamless trading on the go, with both platforms providing essential features such as stock or forex price alerts. However, XM Group offers the added advantage of watchlist symbol syncing. This feature allows traders to easily sync their watchlists across different devices, ensuring any changes are updated in real-time, a functionality that FinecoBank currently lacks.
When it comes to technical analysis tools, the XM Group app provides 30 technical studies for comprehensive charting, significantly more than FinecoBank’s six. XM Group also allows users to draw trendlines on charts, a feature not available in FinecoBank’s app. Both platforms support viewing multiple time frames on charts. However, only XM Group offers real-time quotes in watchlists. Despite these differences, both apps receive a solid four-star rating for mobile trading by ForexBrokers.com. XM Group edges ahead at rank 27 among 62 brokers, while FinecoBank holds the 42nd position.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When examining XM Group and FinecoBank for their market research offerings, XM Group stands out with its daily market commentary, which FinecoBank does not provide. Both platforms deliver forex news from top-tier sources like Bloomberg and Reuters, ensuring traders have access to credible information. While FinecoBank lacks technical analysis support from Trading Central, XM Group offers this valuable tool, providing its users with detailed technical analytics to aid in trading decisions. Additionally, XM Group includes a sentiment-based trading tool, further equipping its clients with insights into market dynamics, an advantage that FinecoBank does not offer.
Both platforms offer an economic calendar that highlights key global news events, but XM Group's overall research capabilities have earned it a 5-star rating, compared to FinecoBank's 4 stars. This difference is underscored in the rankings by ForexBrokers.com, where XM Group is positioned at #8 out of 62 brokers in the Research category, far ahead of FinecoBank's #33 ranking. Ultimately, XM Group provides a more comprehensive suite of tools and resources for traders seeking in-depth market research and analysis.
| Feature |
XM Group
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, XM Group stands out as a strong contender. They provide a wide range of materials, including more than ten pieces focused specifically on forex and CFDs, making it easier for newcomers to grasp complex trading concepts. XM Group also hosts monthly webinars and maintains an archive of past sessions so viewers can revisit them at their convenience. Additionally, beginners can access more than ten educational videos tailored specifically to their learning needs, along with an equal number of advanced videos for those ready to take their skills to the next level. Although XM Group lacks an investor dictionary, their comprehensive educational offerings earn them a five-star rating and a #7 ranking among 62 brokers in this category by ForexBrokers.com.
FinecoBank, however, offers a slightly different educational experience. They meet the beginner's need for at least ten educational videos and hold monthly webinars to support ongoing trader education. However, FinecoBank does not provide education specifically focused on forex and CFDs, nor do they offer a searchable archive of past webinars, which limits the ongoing value of these sessions. While they do provide a robust investor dictionary with over 50 terms, they lack advanced educational videos for experienced traders aiming to deepen their knowledge. Consequently, FinecoBank receives a four-star education rating and holds the #49 spot in the ForexBrokers.com education ranking, reflecting some areas for improvement compared to XM Group.
| Feature |
XM Group
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that XM Group is better than FinecoBank. XM Group finished with an overall rank of #17, while FinecoBank finished with an overall rank of #25.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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FinecoBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 88 | 94 |
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When comparing online brokers, XM Group offers the ability to buy cryptocurrency derivatives while FinecoBank does not provide options for purchasing either actual cryptocurrencies or cryptocurrency derivatives.
In comparing XM Group with FinecoBank for online brokerage services, XM Group uniquely supports Skrill and bank wires for deposits and withdrawals, alongside Visa or Mastercard, while lacking ACH, SEPA, and PayPal options, whereas FinecoBank provides ACH, SEPA, and bank wires but does not support Skrill, Visa, Mastercard, or 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 | XM Group | FinecoBank | |
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| Trust Score | 88 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | FinecoBank Review |
| Broker Screenshots | XM Group | FinecoBank | |
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| Regulation | XM Group | FinecoBank | |
|---|---|---|---|
| Trust Score | 88 | 94 | |
| Year Founded | 2009 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | XM Group | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | Yes | |
| 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) | XM Group | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 9770 | |
| Forex Pairs (Total) | 55 | 54 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | XM Group | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | XM Group | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | XM Group | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | XM Group | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | 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 | 30 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | XM Group | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | 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) | No | Yes |
| Major Forex Pairs | XM Group | 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 | XM Group Review | FinecoBank Review |
| Overall | XM Group | FinecoBank | |
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| Trust Score | 88 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | FinecoBank Review |
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