Fineco Bank-Overview of Minimum Deposit, Leverage, Spreads

WikiFX | 2022-07-11 17:29

Abstract：Fineco Bank is a trademark licensed for use by FinecoBank S.p.A., allegedly authorized and regulated by the Bank of Italy and Consob, based in Italy and founded in 1999, claiming to provide its clients with over 20,000 tradable financial instruments with competitive fees, low spreads and commissions on the advanced desktop, the Web and mobile trading platforms, as well as brokerage, banking and investment services.

General Information & Regulation

Fineco Bank is a trademark licensed for use by FinecoBank S.p.A., allegedly authorized and regulated by the Bank of Italy and Consob, based in Italy and founded in 1999, claiming to provide its clients with over 20,000 tradable financial instruments with competitive fees, low spreads and commissions on the advanced desktop, the Web and mobile trading platforms, as well as brokerage, banking and investment services.

Market Instruments

Fineco Bank advertises that it is a multi-asset platform with more than 20,000 trading instruments in worldwide financial markets, including US Shares, UK Shares, shares CFDs, EU Shares, US ETFs, EUR ETFs, bonds, futures, options, funds, index CFDs, CFDs forex, etc.

Account Types

Apart from demo accounts, it seems that only one standard account type is offered by Fineco Bank. The broker claims that open an account within July 29 and get £500 in trading commissions to use within 3 months. There is no minimum deposit amount to open an account.

Leverage

According to the information displayed on the official site, the maximum leverage ratio with Micro E-Mini Futures provided by Fineco Bank is up to 20x. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what asset classes traders are holding. Fineco Bank reveals that the spread for Index CFDs and CFDs forex is as low as 0.4 points and 0.8 pips respectively. As for commissions, the fixed commission of US Shares, UK Shares, shares CFDs, EU Shares, US ETFs, EUR ETFs and bonds is $3.95, £2.95, £0, €3.95, $3.95, €3.95 and £6.95 separately, while the commission of futures and options is as low as $0.7 and $1.95.

Trading Platform Available

When it comes to trading platforms available, Fineco Bank gives traders three choices: PowerDesk, Web trading and Mobile trading App trading platforms. PowerDesk is advertised as an advanced and intuitive trading platform, fully customized. With Web trading, traders can trade directly on the Internet without installation. While with the Mobile trading App, traders can trade on the go and trading can be done from anywhere and at any time through the right mobile terminals. Anyway, we suggest you use MetaTrader4 or MetaTarder5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results.

Trading Tools

Also, Fineco Bank provides its clients with some trading tools. Just take the stock screeners as an example, the broker says it is a professional tool that provides intuitive search and pre-set filters to help traders find the companies to suit their trading strategy across global markets.

Customer Support

Fineco Banks customer support is available on Mon - Fri, 8 am to 9 pm by telephone: 0800 640 6465 (UK), +44 (0)20 7065 7555 (abroad) or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Twitter, LinkedIn and Facebook. Registered Office: Piazza Durante 11, Milan 20131. Headquarters: Rivoluzione d'Ottobre 16, Reggio Emilia 42123.

Leverage Broker Commission Currency Pair Dealer Future Forex trading Forex Currency pair Forex Broker leverage in forex forex pips forex market

Related broker

No Regulation

Fineco Bank

Company name：FinecoBank S.p.A.

Score

1.54

5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.54

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