MTrading vs Fineco - Fees Review included
Which broker is better MTrading or Fineco? Our expert assessment conducted according to TU’s own methodology showed that MTrading is one of the top brokers in the financial market with the TU Overall Score of 2.99 out of 10. Fineco is one of the top brokers in the financial market with the TU Overall Score of 5.47 out of 10. Find out more about TU Overall Score.
| Feature | MTrading | Fineco |
|---|---|---|
Overall |
3.5 |
3.7 |
1 |
3.9 |
|
3.8 |
4.5 |
|
3.6 |
4.3 |
|
Investment Instruments |
3.5 |
3.2 |
Platforms and Charting Tools |
3.6 |
3.8 |
Deposit and Withdrawal |
4 |
3.9 |
Research |
3.5 |
1 |
Education |
3.5 |
4.0 |
Support |
4.1 |
4.0 |
Bonuses |
4.2 |
3.8 |
|
|
MTrading vs Fineco: Pros and Cons
“MTrading” broker is the company that presents its brokerage services in the field of online-trading, giving a possibility to deal with currencies, precious metals, securities, etc. “MTrading” company offers to use up-to-date and advanced software, which will allow you to carry out an efficient trading on the financial markets regardless of your experience.
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.
| MTrading | Fineco | |
|---|---|---|
| Overall Pros | Low minimum deposit requirements | No requirements for the size of the minimum deposit |
| Demo account is free and available | Availability of a PowerDesk professional trading platform that is available on any device | |
| Copy trading avaible | A vast array of assets in the stock and foreign exchange markets | |
| Fixed stock brokerage fee | ||
| Stock screener for all markets | ||
| Access to trade on weekends | ||
| Availability of full-time and online training courses in trading | ||
| Overall Cons | Not regulated | A fee is charged for using the trading terminal |
| No cent accounts | No demo account or risk-free trial trading | |
| A monthly account maintenance fee is charged |
MTrading vs Fineco: Safety and Regulation
| Regulated By: | MTrading | Fineco |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
Consob |
MTrading vs Fineco: Trading Conditions
| Trading Conditions | MTrading | Fineco |
|---|---|---|
Minimum Deposit |
$1 |
1 |
Trading Platforms |
MetaTrader 4, MT4 Multiterminal, MT4 Supreme Edition, MT4 Web Trader |
PowerDesk, Web PowerDesk, Fineco Mobile |
Max Leverage (Futures) |
1-1000 |
1-50 |
Supported Markets |
Forex, Stocks, Commodities, Indices |
Stocks, options, bonds, futures, certificates of deposit, CFDs on currencies, stocks, commodities, ETFs, ETCs, and CWs |
Trading assets |
100+ |
20000+ |
Trading Accounts |
Demo, M.Premium, M.Pro |
PowerDesk |
Base Account Currencies |
EUR, USD, RUB |
Euro |
MTrading vs Fineco: Fees
Forex Trading Fees
| Fee | MTrading | Fineco |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | MTrading | Fineco |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MTrading | Fineco |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Visa/Mastercard - 1,5%; Perfect Money - 1%; Wire transfer/Skrill/Neteller - 0% |
No |
Withdrawal Fee |
Visa/Mastercard - 1,5%; Perfect Money - 1%; Wire transfer - 0%; Skrill/Neteller - 3% |
€0,80 commission fee when you withdraw up to €99. |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MTrading vs Fineco: Trading Assets
| Asset Name | MTrading | Fineco |
|---|---|---|
Overall |
100+ |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
No |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MTrading or Fineco: Investment Programs
| Asset Name | MTrading | Fineco |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
ISA |
Trading Platforms: Fineco or MTrading
| MTrading | Fineco | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
PowerDesk |
Others |
No |
No |
|
|
MTrading vs Fineco: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MTrading | Fineco |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
MTrading vs Fineco: Research
| Research Type | MTrading | Fineco |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
No |
MTrading vs Fineco: Education
| Education Type | MTrading | Fineco |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
No |
Yes |
Cent account |
No |
No |
Fineco vs MTrading: Support
| Support Features | MTrading | Fineco |
|---|---|---|
Working Days |
24/7 |
13/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MTrading vs Fineco: Forex Bonuses and Promo
| Promo | MTrading | Fineco |
|---|---|---|
Forex Bonus |
Welcome Bonus 30$, Deposit Bonus up to 200%. |
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 |
Yes |
No |
Other Promos |
||
|
|
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 MTrading
-
Comment
Without a doubt, MTrading is reliable. I opened an account there a long time ago and during all this time there was no reason to change the broker. The main thing is that I have withdrawn my profits more than once to different payment systems; depending on the system, withdrawals take from two hours to two days. There are no special complaints regarding trading. There are, however, gaps and slippages. Well, where would we be without them? But I didn’t notice any manipulations on the part of MTrading.
-
Comment
MTrading is one of the oldest brokers and it has a high rating on various platforms. Therefore, many people leave positive reviews of this company. What I personally want to say about MTrading is that its conditions are the same as with others, reliability is also an important aspect for work. I am satisfied with the withdrawal process, because all funds are withdrawn on time and in full.
-
Comment
I tried trading with MTrading twice. The first time, I lost money, but I assumed it was due to my mistakes. However, when I tried trading here again a year later, I realized that the issue was not with me but with the company. The MTrading platform is very slow, making it impossible to open trades quickly. Moreover, the gaps that appear every day can wipe out all trades.
-
Comment
Collaborating with MTrading has caused significant issues. I don't believe this company is focused on providing quality brokerage services. After transferring my funds here, the platform stopped working altogether after three months of trading. I waited for another two months, wrote emails to MTrading's support, but there was no result. Now I've received a message that MTrading has fixed the platform, and trading is possible again. However, I no longer wish to deal with this broker.
-
Comment
Mtrading isn’t licensed by any regulator. Therefore, no one can give you a guarantee that there will be no problems with trading and finance. And there are a lot of problems. I opened an account with Mtrading three months ago and have already lost $250. The broker's trading platform works very slowly and Internet connection often disappears. Therefore, it is impossible to trade profitably. And since the company does not have a regulator, there is no one to complain to.
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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.