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Please note: As with all investments, your capital is at risk. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money before you proceed.
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FinecoBank is one of Europe’s largest banks, with 20 years of leadership history in brokerage and over 30 million orders processed every year. Its core mission is to make online trading simple by providing direct access to the markets in just one click.
With Fineco, you can access 26 global markets and trade over 20,000 financial instruments worldwide on a single account, including UK and overseas shares, ETFs, funds, bonds, and CFDs. You can also invest and trade directly in GBP, EUR, USD, Swiss Franc and 20+ currencies.
FinecoBank’s products include a Trading Account and Stocks and Shares ISA.
Here are the pros and cons of FinecoBank UK:
FinecoBank is one of the best investment platforms in the UK at the moment because of its competitive pricing, comprehensive investment offering and availability in 20+ currencies.
FinecoBank is also rated excellent on Trustpilot with 4.3 stars out of 5 from 382 reviews (at the time of writing).
With FinecoBank, you can invest via a stocks and shares ISA or trading account. You can also take advantage of FinecoBank’s banking services, PowerDesk, learning resources and MoneyMap.
Here is a detailed breakdown of how FinecoBank works:
When you open a trading account with FinecoBank, you’ll have the option to navigate the market through Fineco’s PowerDesk, web platform, or mobile app. PowerDesk is an advanced trading platform accessible on the web that offers intuitive chart trading, personalised dashboards, personalised listings and technical analyses, all on one screen. Fineco’s Web Platform provides easy access to the markets through live quotes, an intuitive search option to help you track securities and more. Mobile trading through the Fineco app allows you to trade all products anywhere by streaming quotes, news, P&L updates, and personalised interactive charts.
Fineco offers a broad range of helpful trading resources to keep you informed in your investment and trading endeavours. You can make use of Fineco’s on-demand Video Library, containing a range of in-depth webinars covering topics such as investing essentials, market trends, techniques for volatile markets and more. You can further broaden your trading knowledge by attending one of Fineco’s Live Events or Courses, where you can meet trading specialists.
Fineco Bank’s MoneyMap feature allows you to set your own personalised budget to take control of your finances and objectives. It uses artificial intelligence to automatically group your expenses into personalised categories so that you can analyse your spending and save more. MoneyMap is fully integrated into the Fineco account with no additional charges.
Signing up for FinecoBank’s trading account and stocks and shares ISA is free, and there is no minimum deposit required to start investing.
There is a comprehensive list of fees on the FinecoBank website, but here is a breakdown of some of the most important FinecoBank fees for UK customers:
Transfer out fee: No charge
No, we do not think FinecoBank’s trading account is suitable for beginners. The range of offerings, pricing structure and user interface are quite complex and could be confusing for a first-time investor. Beginner investors might find platforms such as eToro, Freetrade or InvestEngine better suited to their needs.
No, FinecoBank is not expensive compared to other investment platforms we have reviewed. FinecoBank is actually one of the cheapest investment platforms for trading in the UK. There are no platform fees on the trading account, and the trading fees and FX fees are very low compared to other platforms. FinecoBank’s stocks and shares ISA comes with a platform fee, but even that is low at a maximum charge of 0.25% per year.
Yes, FinecoBank is safe. FinecoBank is as safe as any other regulated stock trading platform in the UK. It is authorised and regulated by the UK’s financial watchdog, the Financial Conduct Authority (FCA).
In addition, Your deposit is covered by a statutory Deposit Guarantee Scheme. This means that if FinecoBanks goes bust, your deposits would be repaid up to €100,000 by the Deposit Guarantee Scheme.
Yes, FinecoBank is subject to limited regulation by the Financial Conduct Authority (FCA). Have a look at its permissions on the FCA Register.
Yes, FinecoBank has a promo code. Apply here by the 29th of July 2022, and trade commission-free up to a maximum commission amount of £500. Terms apply.
To open an account with FinecoBank, click here.
Alternatives to FinecoBank in the UK include Interactive Investor, Hargreaves Lansdown and Freetrade.
Interactive Investor has over 40,000 investments to choose from, including UK and overseas shares, funds, investment trusts, and ETFs. You get a free trade every month, which you can use to buy or sell any investment. Interactive Investor’s services include a Trading Account, Stocks and Shares ISA, SIPP and Junior ISA.
Visit: Interactive Investor
See: Interactive Investor Review
Hargreaves Lansdown has thousands of investments to choose from, including UK and overseas shares, funds, investment trusts, and ETFs. Choose your own investments with expert research and ideas to help you, or simply pick a ready-made portfolio. Manage via website, app or phone.
Visit: Hargreaves Lansdown
See: Hargreaves Lansdown Review
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