eToro vs Fineco - Fees Review included
Which broker is better eToro or Fineco? Our expert assessment conducted according to TU’s own methodology showed that eToro is one of the top brokers in the financial market with the TU Overall Score of 7.18 out of 10. Fineco is one of the top brokers in the financial market with the TU Overall Score of 5.38 out of 10. Find out more about TU Overall Score.
| Feature | eToro | Fineco |
|---|---|---|
Overall |
4.8 |
3.7 |
5.0 |
3.9 |
|
4.7 |
4.5 |
|
4.9 |
4.3 |
|
Investment Instruments |
5.0 |
3.2 |
Platforms and Charting Tools |
4.1 |
3.8 |
Deposit and Withdrawal |
4.5 |
3.9 |
Research |
5 |
1 |
Education |
4.3 |
4.0 |
Support |
4.2 |
4.0 |
Bonuses |
1 |
3.8 |
|
|
eToro vs Fineco: Pros and Cons
The eToro broker is a very popular online platform for trading. Founded in 2007, the company operates as a social trading website that works with traders in dozens of countries.
FinecoBank is an Italian FinTech company that started its activities in 1999 and merged with UniCredit Xelion Banca in 2008. In 2018, after leaving UniCredit Group, FinecoBank became an independent bank, which also provides online trading services in the stock market. FinecoBank is regulated by the securities market supervisor Consob (Commissione Nazionale per le Società e la Borsa) and is a member of the Single Resolution Fund.
| eToro | Fineco | |
|---|---|---|
| Overall Pros | Mobile app for trading from smartphones | No requirements for the size of the minimum deposit |
| Highly licensed and regulated broker | Availability of a PowerDesk professional trading platform that is available on any device | |
| eToro charges a fixed withdrawal fee of $5 USD | A vast array of assets in the stock and foreign exchange markets | |
| The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | Fixed stock brokerage fee | |
| The funds of eToro clients are held at the licensed US banks | Stock screener for all markets | |
| Access to trade on weekends | ||
| Availability of full-time and online training courses in trading | ||
| Overall Cons | Customer support can be only contacted by tickets | A fee is charged for using the trading terminal |
| No demo account or risk-free trial trading | ||
| A monthly account maintenance fee is charged |
eToro vs Fineco: Safety and Regulation
| eToro | Fineco | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
€100,000 (IT) |
FCA UK Regulation |
Yes |
No |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
eToro vs Fineco: Trading Conditions
| Trading Conditions | eToro | Fineco |
|---|---|---|
Minimum Deposit |
$50 |
1 |
Trading Platforms |
eToro |
PowerDesk, Web PowerDesk, Fineco Mobile |
Max Leverage (Futures) |
1:30 |
1-50 |
Supported Markets |
Forex, Stocks, Indices, Commodities, Crypto |
Stocks, options, bonds, futures, certificates of deposit, CFDs on currencies, stocks, commodities, ETFs, ETCs, and CWs |
Trading assets |
1000+ |
20000+ |
Trading Accounts |
Standard, Demo |
PowerDesk |
Base Account Currencies |
USD |
Euro |
eToro vs Fineco: Fees
| eToro | Fineco | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,3 |
0,5 |
Standard acc. spread EUR/USD, max pips |
1,1 |
1,0 |
ECN Commission |
||
ECN Spread EUR/USD |
||
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
5 |
No |
Inactivity fee, $ |
10 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
eToro vs Fineco: Trading Assets
| Asset Name | eToro | Fineco |
|---|---|---|
Overall |
1000+ |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
No |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
eToro or Fineco: Investment Programs
| Asset Name | eToro | Fineco |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
ISA |
Trading Platforms: Fineco or eToro
| eToro | Fineco | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
eToro |
PowerDesk |
Others |
No |
No |
|
|
eToro vs Fineco: Deposit and Withdrawal Methods
| eToro | Fineco | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
eToro vs Fineco: Research
| Research Type | eToro | Fineco |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
eToro vs Fineco: Education
| Education Type | eToro | Fineco |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
No |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Fineco vs eToro: Support
| Support Features | eToro | Fineco |
|---|---|---|
Working Days |
24/5 |
13/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
eToro vs Fineco: Forex Bonuses and Promo
| Promo | eToro | Fineco |
|---|---|---|
Forex Bonus |
No |
For the first 3 months after registration, FinecoBank provides new clients with a reduced fixed rate for a contract on futures and options trading. |
Affiliate Program |
$100-250 per trader |
No |
Other Promos |
No |
|
|
|
Top 5 Reviews on Fineco
-
Comment
Registered an account with Fineco Bank as it offers online trading training courses. I'm still a complete zero in trading, so you can't do without basic knowledge. For those who have the opportunity to visit the office, the broker offers full-time training. A serious disadvantage for me was the lack of a demo account. The broker offers an author's terminal, so competitors will not be able to practice on third-party software. I had to immediately open the real. On the other hand, perhaps this is for the best: when, in the absence of experience, you begin to lose not candy wrappers, but real money, you become more organized and stop making spontaneous transactions. I've only been trading for 3 months, until everything fits.
-
Comment
First of all, FinecoBank attracted me with a wide range of trading instruments such as stocks, ETFs, funds, bonds, futures, options, and Forex. Most all popular assets are here. I am not involved in crypto trading, so I did not notice the absence of crypto coins from the list of available assets. FinecoBank's trading fees are significantly lower than those of its competitors. I would pay my former broker $10 for a $2,000 US stock deal, and FinecoBank only holds back $4. What I would like to point out as a disadvantage of the broker is the high margin rates. Paying 8.1% per year is, in my opinion, a bit too much. Therefore, I trade at FinecoBank only using my own capital.
-
Comment
For 7 years of investing in securities, I managed to cooperate with several dozen stockbrokers, but each of them had some significant drawbacks that made me look for another company. I opened an account with FinecoBank 3 years ago and, as always, was skeptical. However, it was this broker who offered me exactly what I was looking for: low fund commissions, a convenient mobile terminal, and a clear fulfillment of their obligations. Now I mainly trade through FinecoBank. Here, the choice of assets is huge, and the conditions are favorable. It is a pity that it is not yet possible to work with cryptocurrencies here. But I think the company does not want to lag behind its competitors, so it will add cryptocurrencies to the list of available financial instruments soon.
-
Comment
I have been cooperating with FinecoBank for years. I use its banking services, and not so long ago I started investing in securities here. For this purpose, I use a mobile application, as it makes it easy to manage bank and investment accounts, as well as place market and limit orders. There are no complaints at all about the level of service quality: either by phone or in an online chat; and company representatives always answer not only quickly, but also competently. I can recommend trading stocks, ETFs, and futures at FinecoBank, but only with your own funds. The margin rates are high here.
-
Comment
FinecoBank offers different types of trading platforms, but for beginners, I would not recommend using the PowerDesk desktop terminal. It is too complicated, and there are no reports on fees at all. The interfaces of the mobile application and web platform are much simpler and intuitive, although less customizable. The search function works well on both terminals. Price alerts can be set. I invest in mutual funds with FinecoBank and its trading fees are fine with me.
Top 5 Reviews on eToro
-
Comment
I’ve been familiar with the broker eToro for over a year, looking for a platform with extensive features for copy trading and the ability to buy stocks in small lots. The minimum deposit is $50, which is affordable, but spreads start at 1.0 pip — not the lowest in the market. I liked that the broker is regulated by CySEC and FCA, and has over 20 million clients worldwide. During this time, I tried buying fractional shares and investing in cryptocurrencies — the platform makes this quite convenient, although the website can be slow at times. I consider eToro more of a universal platform for passive investing than for frequent trading.
-
Comment
The broker offers only one account currency — USD. It supports trading across a wide range of assets, including currencies, stock indices, commodities, and cryptocurrencies. Deposits can be made via cards, Skrill, PayPal, and even YooMoney. Some nuances include a withdrawal fee, an STP model without ECN, and a lack of advanced analytical tools on the website. Despite these aspects, eToro consistently maintains its position in international rankings.
-
Comment
eToro is suitable for investors who want to copy successful traders. It offers the Popular Investor feature, where you can earn up to 2% of the copied volume. The platform is fully web-based and mobile-friendly, with a low entry threshold. The downside is the high spreads and a limit of 100 copiers per lead trader. There’s also no option to use expert advisors or algorithms.
-
Comment
I opened an account on eToro with the minimum deposit of $50, and the platform's interface turned out to be convenient, especially in terms of copy trading. The minimum amount for copy trading is only $1, which makes it easy to start. The available instruments include stocks, currencies, commodities, and cryptocurrencies. On the downside, there is no MT4/MT5, and withdrawals cost $5. Also, the number of followers is limited — a maximum of 100 traders can copy one.
-
Comment
Been using eToro for full year and here is my impartial review of the broker: Most compatible for trading stocks with its zero-fee structure for securities, but charges high for crypto + high spread for forex Order fulfillment is fast and glitches rarely happen. If they do, their customer service agent will promptly reach out to explain the issue and find a common ground to solve it Great for portfolio diversification with the availability of thousands of tradable assets Simple trading terminal with a number of good features e.g. copy trading, social trading, etc No deposit fee + $5 fee for withdrawals (regardless of the amount) Has a lot of ancillary charges such as inactivity fee, currency conversion fee, and overnight fee
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
"Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more"
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.