FinecoBank is one of the top Europe’s FinTech banks and it just registered a new record revenue growth in 2021 which exceeded the already incredible expansion of the year before. Since their entry in the British market three years ago, Fineco UK has become a national sensation thanks to their unique offering of combining banking, investment and brokerage services.
Let’s see what made their offer so appealing to millions of Britons, and what you should aspect once you open an account with Fineco UK.
Fineco is a financial institute founded in 1999 in Milan, Italy, has an UniCredit branch specialised in online banking services and online trading. Since then they became a blue chip company by entering in the FTSE MIB index in 2014 and gained independence from UniCredit in 2019.
They are present especially in the UK and Italy, due to their top-tier regulation in both countries provided by:
- The Italian Companies and Exchange Commission (CONSOB): Italian government authority responsible for the regulation of the Italian securities market and Italian Stock Exchange, also known in Italian as Borsa di Milano or Borsa Italiana.
- The Financial Conduct Authority (FCA): a British non-government financial regulatory authority which operates in all of the United Kingdom territories.
This is an important point to remark, because choosing a non-regulated broker today will mostly lead you towards scams and financial legal problems.
Once you decide to open a Fineco’s bank account, you will have access to an enormous amount of services for both banking and trading services. And on top of it, you will also be able to use the pluri-awarded PowerDesk trading platform.
PowerDesk is a professional platform developed by FinecoBank for their clients. As of today, it is the most used platform in Europe, and for a reason.
Thanks to it you will be able to trade and invest in many different financial markets and speculate on various financial instruments, including stocks, shares, indices and currencies. As for margin trading, they also allow leverage on more than 1,000 different securities.
One of the stronger points of Fineco UK is the fact of giving you a one-stop solution in terms of a banking account which includes a multi-currency account able to hold liquidity in 20+ different currencies. And that includes the chance of speculating on financial assets with a top-tier trading platform such as PowerDesk.
Traders based in the United Kingdom have also access to Individual Saving Accounts (ISAs) to enhance their chance of profits with many perks and even a fund manager in charge of helping with your activities.
With all that being said, if you want to open a Fineco UK account you will need to make a 100£ minimum deposit. Any other price or fees to cover are shown on their website and can be checked at any time. Among those we remember:
- 0 monthly fees
- 0.25% of total investments value ISA Annual fee
- 2.95£ fixed commission on UK Shares
- 3.95$ fixed commission on US Shares
- 0 commissions on Shares CFDs
Opening an account with Fineco UK is the best deal you can get if you want a one-solutionaccount able to combine sectors and offers which are usually separated such as trading, investments and standard banking services.
It is a fact that, once you open an account, you will be able to trade in a simple, faster way while using a top-tier banking service with a 24/7 customer service always ready to assist you.
As for their cons, we noticed a lack of educational content, especially if compared to the competition, which may be useful to improve in order to help newcomers.