Fineco Bank Review - Read Reviews, Compare Alternatives

Fineco Bank Review

Fineco Bank is one of Europe’s leading FinTech banks. UK customers can trade or invest in stocks, funds, bonds, ETFs, CFDs and more via a Stocks and Shares ISA or Trading Account.

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Updated On:
August 12, 2021

Is Fineco Bank any good?

Fineco Bank UK is one of Europe’s leading FinTech banks specialising in online brokerage. It provides a range of trading and investment products including, funds, bonds, ETFs, CFDs and more. And you can invest via a Stocks and Shares ISA or Trading Account.


Fineco Bank’s core mission is to make online trading simple by providing direct access to the markets in just one click. 


If you choose to invest with Fineco, you’ll gain access to 26 global markets and over 20,000 financial instruments to trade worldwide on a single account. Fineco Bank allows you to invest and trade directly in GBP, EUR, USD, Swiss Franc and 20+ currencies.


How does Fineco Bank work? 

Please note: as with all investments, your capital is at risk.


With Fineco, you can invest as follows:

Fineco Bank Stocks and Shares ISA

  • The Fineco Bank Stocks and Shares ISA offers a tax-efficient way to grow your money for the future, with a current maximum investment of £20,000 per year. 
  • You can choose from a variety of funds, shares, bonds, UK equities and ETFs.
  • Opening a Stocks and Shares ISA with Fineco requires no minimum deposit, so you can begin investing with an amount you’re comfortable with.
  • Take advantage of a zero percent platform fee until the 5th of April 2022 when you transfer or sign up to a Fineco ISA by the 30th of September 2021. Once this promotion ends, the usual annual platform fee of 0.25%, with a cap of £2.95 a month, will resume.

Click here to learn more about the Fineco Bank Stocks and Shares ISA.


Fineco Bank Trading Account

  • A Fineco Bank Trading Account gives you detailed snapshots of the financial markets with a complete overview on every security, along with live quotes, main figures, comprehensive reports and more.
  • With Fineco, you can save on currency conversion fees. This means that once you’ve converted GBP to USD, you can buy or sell an unlimited number of shares in USD and only be charged the trading fee. 
  • With Fineco, you can trade both Intraday and Overnight Futures on CME, EUREX and IDEM.
  • Fineco’s CFDs Foreign Exchange, Indices and Futures on Commodities CFDs allow you to trade in any direction and condition commission-free. Users can trade CFDs with Fineco 24hrs a day from Monday to Friday.
  • Trade thousands of stocks and shares globally with local currency pricing, with a fixed commission rate of £2.95 per trade on the London Stock Exchange, and €/$3.95 on USA and Europe Exchanges.
  • Trade the Volatility Index (VIX) and choose from a wide range of trading options on the CBOE market, as well as S&P, Dow Jones, Nasdaq and Russell Indices and US Stocks.
  • Fineco’s Automatic ETF arrangements allow you to set a regular saving plan on multiple ETFs starting at just £2.95 per month.
  • A Fineco Trading Account gives you extensive bond offerings with access to gilts, government bonds and more than 6,000 sovereign, corporate and structured securities.

Click here to sign up to a Fineco Bank Trading Account.


Fineco Banking Services

  • When you open a bank account with Fineco, you can take advantage of free withdrawals both UK and EU-wide when using your GBP and EUR debit card, respectively.
  • Spend like a local in Europe by using your EUR debit card to pay for recurring bills with no extra fees.
  • Instant, 24-hour Euro bank transfers that reach the beneficiary within seconds.
  • Send your money globally with online bank transfers covering 250 destinations and 20 different currencies.
  • Pay without the need for a card using your smartphone or smartwatch.
  • Large shoppers can extend their Fineco card limits to allow for larger purchases up to £10,000.
  • Use your Fineco card to travel contactless across the London network at no extra cost.

Click here to learn more about Fineco’s Banking Services.


Other Tools and Features

MoneyMap

Fineco Bank’s MoneyMap feature allows you to set your own personalised budget to take control of your finances and objectives. It uses AI 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. Simply activate it for free to get started.

Trading Resources

Fineco offers a broad range of helpful trading resources to help 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.

Trade Three Ways

When you open a trading account with Fineco, you’ll have the option to navigate the market through PowerDesk, Fineco’s Web Platform, or the Fineco app. PowerDesk is an advanced trading platform accessible on browser 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, whilst mobile trading through the Fineco app allows you to trade all products anywhere through streaming quotes and news, live P&L updates and personalised interactive charts.


Frequently Asked Questions

1. How do I trade with Fineco Bank?

Opening a Fineco Trading account is straightforward and takes just a few minutes. Once you’ve completed a short online form with your contact information and personal details, you’ll gain access to a broad range of trading products and services, including 26 global markets and over 20,000 financial instruments to trade worldwide on a single account.


Fineco’s Trading account will give you direct access to the financial markets, with a complete overview on every security, along with live quotes and main figures where you can choose from thousands of funds, ETFs, bonds, CFDs and more. 


Click here for more information on opening a Trading Account with Fineco.

2. Is Fineco Bank good for beginners?

Fineco Bank’s broad range of investment and trading products, banking services and trading resources makes the platform an excellent option for both beginners and the more advanced trader. With the option to trade three ways, users can choose a style that best suits their needs and level of experience, and can also take advantage of Fineco’s trading resources, offering an on-demand video library of detailed webinars and live events.

3. What are Fineco Bank’s charges?

With Fineco Bank, charges vary depending on how you choose to invest.


‍Funds:‍

Annual Platform Fee: 0.25% max

‍Dealing Fee: No charge

‍Shares (including ETFs and Bonds):

‍Annual Platform Fee: 0.25% (max £2.95 per month)

Dealing Fee: £2.95 per deal (UK Shares); $3.95 per deal (US Shares)

Transfer out fee: No charge

4. Is Fineco Bank expensive?

Fineco Bank’s annual platform fee for funds and shares (including ETFs and bonds) is capped at 0.25% for funds, and £2.95 per month for shares, meaning you can trade thousands of Stocks and Shares globally without exceeding this fee.


Visit the website for more information on the various charges when using Fineco Bank’s services.


You can also use our investment platform or stockbroker comparison table to see how Fineco Bank compares to other investment platforms in the UK.

5. Is Fineco Bank regulated by the FCA?

Fineco Bank is subject to limited regulation by the Financial Conduct Authority (FCA). Have a look at their permissions on the FCA Register.

6. Is Fineco Bank safe?

Fineco Bank's UK customers are covered by the Financial Services Compensation Scheme (FSCS), which means that your assets are protected up to £85,000 per person. 


This means you can get your money back if Fineco Bank were to go bust. Keep in mind that the FSCS does not cover losses arising from the performance of any of your investments.

7. Does Fineco Bank have a referral scheme?

When you refer a friend to Fineco Bank, you both receive 100 commission-free trades. Note that the referred friend must make one trade by the 23rd of September 2021 in order for both of you to receive the free trades.

8. How do I open an account with Fineco Bank?

Click here to open a Trading account or here to open an ISA.

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Alternatives to Fineco Bank

Interactive Investor

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 Trading Account, Stocks and Shares ISA, SIPP and Junior ISA.


Visit: Interactive Investor 

See: Interactive Investor Review

Hargreaves Lansdown

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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