Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs Xtrade, 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, a publicly traded bank founded in 1999, boasts a high level of trust thanks to its strong regulatory framework. It holds two Tier-1 licenses, which are highly trusted according to ForexBrokers.com. FinecoBank also achieves a Trust Score of 94 out of 99, placing it in the highly trusted bracket. This puts it in a favorable position for those seeking a reliable and well-regulated brokerage service with the added credibility of being listed on a stock exchange.
On the other hand, Xtrade, established in 2003, is not publicly traded and does not operate as a bank. It holds one Tier-1 license, which also signals a high level of trust, alongside one Tier-2 license, indicating a trusted standing. However, Xtrade's Trust Score is 74 out of 99, reflecting an average risk rating by ForexBrokers.com standards. While it provides some level of assurance with its regulatory licenses, for those prioritizing higher trust and public accountability, FinecoBank may be a more appealing option.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to assessing online brokers based on commissions and fees, FinecoBank and Xtrade each have some unique attributes. FinecoBank does not disclose average spread data for forex and CFD trading, which complicates a thorough evaluation of its trading costs. Listed spreads for the EUR/USD are reported at 1 pip and 0.8 pips, albeit without clarity on whether these are average figures or the timeframes they cover. Despite these higher-than-average spreads for forex pairs, FinecoBank seems to offer lower spreads on index CFDs. FinecoBank has been rated 3.5 out of 5 stars for commissions and fees, placing it at #50 among 62 brokers ranked by ForexBrokers.com in the Commissions and Fees category.
Xtrade, on the other hand, is similar to FinecoBank in that it also does not provide average spread data, which hinders transparency regarding its trading expenses. However, the lack of available data has led to a lower rating, with Xtrade receiving 2.5 out of 5 stars for commissions and fees. This places it at #62 on ForexBrokers.com’s list of 62 brokers, making it one of the lowest ranked in terms of commissions and fees.
In summary, neither FinecoBank nor Xtrade provide sufficient transparency into their spread data, complicating the comparison of their actual trading costs. FinecoBank enjoys slightly better ratings and rankings than Xtrade, which is a key factor to consider for traders who prioritize lower fees and well-reviewed services. While FinecoBank may offer lower spreads on some indices, potential clients should be cautious and possibly seek additional details directly from the broker to make fully informed decisions.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| 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 | No |
| 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.
FinecoBank and Xtrade are two online brokers that both offer the ability to trade forex as contracts for difference (CFD), but they differ significantly in their range of investment options. FinecoBank stands out with an impressive offering of 9,770 tradable symbols, compared to Xtrade's more limited pool of 482 symbols. When it comes to forex pairs, Xtrade slightly edges out FinecoBank with 56 pairs to FinecoBank's 54. However, FinecoBank provides access to U.S. and international exchange traded securities, allowing clients to invest in stocks like Apple and Vodafone directly. This is a feature that Xtrade does not offer, which could be a deciding factor for investors interested in such securities.
Both brokers currently do not support copy trading or the purchase of actual cryptocurrencies. However, Xtrade does offer cryptocurrency derivatives, unlike FinecoBank. In terms of ratings, FinecoBank is rated 4.5 stars for its range of investments, securing the 16th spot out of 62 brokers in a category ranking by ForexBrokers.com. In contrast, Xtrade has a 3.5-star rating and ranks 49th in the same category. These comparisons highlight FinecoBank as a more versatile choice for those seeking a broader range of investment opportunities.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 482 |
| Forex Pairs (Total) | 54 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 of FinecoBank and Xtrade, there are several key differences to consider. FinecoBank stands out by offering a proprietary platform and a Windows-based desktop download option, something Xtrade lacks. However, both brokers provide web-based platforms developed in-house, with neither supporting popular alternatives like MetaTrader 4 and 5. On the charting front, FinecoBank offers 7 drawing tools but doesn't allow trading directly from the charts. In contrast, Xtrade provides an impressive 100 drawing tools and the convenience of trading directly from stock charts. While neither broker supports copy trading, FinecoBank holds an edge in rating, earning 4 stars compared to Xtrade's 3.5 stars for their trading platforms and tools.
Simulated trading is an area where Xtrade takes the upper hand by providing a free virtual demo account, which FinecoBank does not offer. This makes it easier for users to practice trading strategies without financial risk on Xtrade. Furthermore, when it comes to ranking among 62 brokers in the Trading Platforms and Tools category by ForexBrokers.com, FinecoBank sits at #18 with Xtrade significantly lower at #58. Finally, in terms of and organizing trading observations, Xtrade allows for more customization with 9 watch list fields, though FinecoBank's capabilities in this regard weren't specified. Choosing between these brokers depends largely on the features most important to an individual trader's needs.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | N/A |
| Charting - Drawing Tools (Total) | 7 | 100 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FinecoBank and Xtrade offer apps compatible with iPhone and Android devices, making them accessible for a wide range of traders. FinecoBank stands out by providing stock and forex price alerts, a feature not available in Xtrade's app. However, neither app supports watchlist symbol syncing, meaning users cannot sync changes between the mobile app and their online account. FinecoBank offers a more detailed charting experience, allowing users access to multiple time frames like daily, weekly, or intraday views, a feature Xtrade lacks. Both apps miss out on enabling users to draw trendlines or have their chart drawings autosaved.
While each mobile app has its limitations, FinecoBank offers six technical studies for chart analysis, a feature not available with Xtrade. Both platforms do not support the creation of watchlists with real-time quotes directly within the mobile app. Despite these differences in functionality, user ratings are similar, with both apps receiving four out of five stars for their mobile trading apps. According to ForexBrokers.com, FinecoBank ranks #42 out of 62 brokers in the mobile trading category, while Xtrade follows at #53, showing a slight edge for FinecoBank in this comparative aspect.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | No | No |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and Xtrade in terms of market research offerings, each platform exhibits distinct advantages. Xtrade provides daily market commentary, which FinecoBank does not. Both brokers, however, deliver forex news from top-tier sources such as Bloomberg and Reuters. Unfortunately, neither FinecoBank nor Xtrade offers technical analysis or research tools from renowned companies like Autochartist or Trading Central. Similarly, both brokers lack sentiment-based trading tools and market research features from TipRanks and Acuity Trading. However, they both offer economic calendars to keep you informed about global news events, aiding traders in timing their strategies effectively.
In terms of ratings and rankings, FinecoBank outperforms Xtrade with a research rating of 4 stars compared to Xtrade's 3.5 stars. According to ForexBrokers.com, FinecoBank holds the 33rd spot out of 62 brokers for research capabilities, whereas Xtrade ranks at 52. This rating reflects FinecoBank's greater recognition in delivering excellent research resources. While both brokers miss several specialized tools, FinecoBank's higher ranking suggests a slightly superior offering in aiding traders to make well-informed decisions.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| 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.
When comparing FinecoBank and Xtrade for educational resources tailored to beginners, both brokers present distinct strengths. FinecoBank is noteworthy for offering regular monthly webinars and a collection of over 10 beginner-focused videos on trading topics. Its educational support is complemented by an investor dictionary that defines over 50 investing terms, helping newcomers grasp key concepts. However, it lacks substantial material on forex or CFDs, missing the 10 educational pieces benchmark, and does not provide a searchable archive of past webinars.
In contrast, Xtrade excels in offering a broad array of educational pieces targeting forex and CFDs, surpassing the minimum of 10 necessary resources. Despite this, it doesn't match FinecoBank's offerings for beginner videos or the regularity of live webinars. Like FinecoBank, Xtrade does supply an investor dictionary but also lacks a searchable webinar archive. In terms of education rankings, FinecoBank holds a slightly higher star rating, while Xtrade is positioned better overall in rankings among brokers.
| Feature |
FinecoBank
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| 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 | Yes |
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 Xtrade. FinecoBank finished with an overall rank of #25, while Xtrade finished with an overall rank of #59.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 74 |
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While both FinecoBank and Xtrade do not offer the ability to buy actual delivered cryptocurrency, Xtrade provides an option to trade cryptocurrency derivatives, unlike FinecoBank.
FinecoBank offers ACH and SEPA transfers and bank wire options for depositing and withdrawing account funds, whereas Xtrade lacks ACH and SEPA transfer options but provides Skrill and card payments with Visa or Mastercard for financial transactions, alongside the common bank wire services available at both online brokers.
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 | Xtrade | |
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| Trust Score | 94 | 74 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Xtrade Review |
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| Regulation | FinecoBank | Xtrade | |
|---|---|---|---|
| Trust Score | 94 | 74 | |
| Year Founded | 1999 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 482 | |
| Forex Pairs (Total) | 54 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | No | |
| Watchlists - Total Fields | N/A | 9 | |
| Charting - Indicators / Studies (Total) | 37 | N/A | |
| Charting - Drawing Tools (Total) | 7 | 100 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FinecoBank | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | No | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FinecoBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| 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 | Yes |
| Major Forex Pairs | FinecoBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | FinecoBank | Xtrade | |
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| Trust Score | 94 | 74 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Xtrade Review |
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