Fineco

Abu00saeed

1-2 years

How do the different account types provided by Fineco compare to each other?

WikiFX Reply

In my experience as a trader reviewing Fineco, I see that they offer two distinct account types—the Trading Account and the Fineco Account—which each come with notable differences that can impact trading decisions. The Trading Account has no monthly fee and charges a commission of 0.19% of the order value with a minimum of €2.95 and a maximum of €19 per trade. However, it lacks multicurrency services and customer support is limited to email. For me, the absence of diverse payment methods with this account and the lack of more direct support channels would be a concern, especially if I encountered urgent issues. On the other hand, the Fineco Account charges a monthly fee of €3.95, but it includes multicurrency features and offers customer support both by email and phone, which might be valuable for a trader who prioritizes flexibility and the ability to reach out for assistance. The commission for this account is structured differently, ranging from €19 to €2.95 per operation or asset, with the possibility of adjustment after two months. This could potentially lower costs over time, yet the initial higher fees should be considered. In both accounts, it’s important to note that Fineco does not support MetaTrader platforms and deposits and withdrawals are restricted according to account type. Personally, I approach Fineco with extra caution due to its lack of current regulation, and I would weigh these account differences carefully before committing funds.

Broker Issues

Fineco

Leverage

Instruments

Account

Platform

08-31

United States

J Forex Trader

1-2 years

Based on your own experience, what would you say are the three main benefits of using Fineco?

WikiFX Reply

Speaking from my experience as a forex trader who places a strong emphasis on security and reliability, I find it difficult to identify clear, compelling benefits with Fineco. Still, after taking a careful and methodical look at what Fineco offers, I can say there are a few notable features worth mentioning for those exploring multi-asset platforms. The first benefit is the sheer range of tradable instruments—CFDs, ETFs, bonds, futures, options, and more—which can appeal to traders seeking diversification in a single platform. This breadth means I am not limited to just forex or a handful of asset types, giving me flexibility when managing risk or looking for new opportunities. Secondly, Fineco’s proprietary FinecoX trading platform is available on desktop, mobile, and web, which offers convenience and a unified trading experience. The lack of standard MT4 or MT5 integration is a downside, but for traders comfortable with using house-built solutions, this can streamline account management and execution. Lastly, the commission structure—zero commissions on CFD trading with spreads starting at 1 pip—may appeal to cost-conscious traders. However, it is essential to note that the lack of regulation raises a significant red flag for me and overrides many positive aspects. In these cases, while the product variety and low commissions sound attractive, I personally would tread with the utmost caution due to the inherent risks involved. In summary, while Fineco offers some benefits in product variety and pricing, I cannot ignore the critical importance of trading only with properly regulated brokers.

Broker Issues

Fineco

Regulation

08-07

United States

schlaepfi

1-2 years

Is it possible to trade particular assets such as Gold (XAU/USD) and Crude Oil on Fineco?

WikiFX Reply

As an experienced forex trader, when I evaluate whether it’s possible to trade assets like Gold (XAU/USD) and Crude Oil with a broker, I always look carefully at the products they actually list and the platform’s overall setup. Based on my review of Fineco, I found that it does offer a fairly broad range of CFD trading products—this includes CFDs on stocks, indices, commodities, forex, and even crypto. Since Gold and Crude Oil are among the most traded commodities in the CFD space, and Fineco specifically lists “CFD Commodities” and “Forex CFDs” as available, it’s reasonable to say that trading assets like XAU/USD (Gold) and Crude Oil is supported on their platform. However, I want to stress how vital it is to approach this cautiously, especially with a broker like Fineco which, according to my findings, operates without any current valid regulatory oversight. My own habit is always to double-check what instruments are accessible once you’ve opened an account or even reach out via their available customer support channels for precise details about tradable symbols, spreads, and leverage on these commodities. While it seems likely you will be able to trade Gold and Crude Oil CFDs via Fineco’s proprietary FinecoX platform, I wouldn’t proceed without verifying these specifics directly due to the higher risk profile of unregulated brokers. For me, full transparency and security are non-negotiable—especially when dealing with high-demand assets like Gold and Oil.

Broker Issues

Fineco

Instruments

Leverage

Platform

Account

07-31

United States

PitBull

1-2 years

Does Fineco apply any charges when you deposit or withdraw funds from your account?

WikiFX Reply

As a trader who always tries to thoroughly understand the fee structures of any broker I use, reviewing Fineco’s approach to deposits and withdrawals has been especially important for me. Based on what I’ve gathered, the information surrounding deposit and withdrawal fees at Fineco is not entirely straightforward or as transparent as I would prefer. For the most basic “Trading Account,” Fineco appears to only support bank transfers for both deposits and withdrawals, with payment cards, bills, and checks not available. Their “Fineco Account,” which is more akin to a full-service banking account, offers additional options like payment cards and support for transfers both within Italy and abroad. However, nowhere does Fineco explicitly clarify if there are specific charges imposed by them for making deposits or withdrawals. Given the lack of detailed disclosures about these potential fees, and knowing that other brokers are much clearer on this point, I personally treat this as a possible red flag. In my experience, a lack of transparency often correlates with unforeseen charges or cumbersome procedures. As a rule, since Fineco is not regulated and already carries a noted high risk and limited contact channels, I would exercise significant caution. I strongly recommend contacting customer support directly before making any transfers, and taking into account possible third-party fees from banks, especially for cross-border transactions. For me, I always opt for brokers that disclose every potential charge in advance, and I would need further clarification from Fineco before feeling comfortable with their deposit and withdrawal processes.

Broker Issues

Fineco

Deposit

Withdrawal

07-24

United States