Fineco Bank vs TopFX 2024

Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

TopFX is not publicly traded and does not operate a bank. TopFX is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). TopFX is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

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.

TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

To open a trading account with Fineco Bank, you'll need to make an initial minimum deposit of $0.

TopFX requires a minimum deposit of Depends on payment method before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Fineco Bank offers Bank Wire (Deposit/Withdraw) for banking, whereas TopFX provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that TopFX offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Fineco Bank holds 2 global Tier-1 licenses, while TopFX holds 1. Both Fineco Bank and TopFX hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Fineco Bank (94) earned a higher Trust Score than TopFX (67).

To compare the trading platforms of both Fineco Bank and TopFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Fineco Bank offers a better experience. With research, Fineco Bank offers superior market research. Finally, we found Fineco Bank to provide better mobile trading apps.

Here’s what trading platforms are available at Fineco Bank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at TopFX:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - Yes
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. TopFX offers MetaTrader 4 (MT4), while Fineco Bank does not. Forex traders also appreciate the ability to engage in social copy trading. While TopFX offers copy trading, Fineco Bank does not.

TopFX provides traders 60 currency pairs (e.g., EUR/USD) compared to Fineco Bank's 54 available pairs. If you are interested in trading CFDs, Fineco Bank offers traders access to 9770 CFDs, while TopFX offers access to 655 CFDs; so Fineco Bank offers 9115 more CFDs than TopFX.

We found in our testing that Fineco Bank offers a more diverse selection of investment options than TopFX, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical) and Spread Betting.