Let other traders know if this service is worth checking or should be avoided.
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Feb 25, 2008,
I strongly suggest to avoid fineco.
Fineco is not still ready (from a software point of view) to put on the forex market.
The software is really bad (I am a senior programmer with experience in trading software).
The problem in Italy is that nobody offers a demo account.
Using fineco software during a scalping session the "close" button of the open positions disappeared, once an entire position disappered from the portfolio.
Another strong problem is that fineco software (PowerDesk2) doesnt support multiple orders for single currency pairs and if you click more than once the close button (for every exceding click) automatically it opens inverse orders.
Please avoid it absolutely, especially if you have already spent a lot of your time making training in other very good platforms like FXCM (just to make an example).
Jun 6, 2010,
Avoid Fineco, their forex platform is dangerous:
no trailing stops; the stop loss is set automatically by the platform system at 1% and the stop loss level cannot be modified (stop loss triggering is assured here); closing orders freezing while your loss increases or your profits vanish.
Simply crazy!! stay away
Sep 5, 2008,
AVOID Fineco....it works when it works....:-((...I had enough!!!
What if, you want to close a position, but you cannot 'cause of their bad software platform? the loss is yours
Also, they promise 3 pips spread, but many times is 5-6 pips.
Sometimes the balance is weird....as well
I notice this company often show low/high prices lower/higher than the rest of brokers... at 23.26 of 15/06/2020 italian time EURNZD was hitten 1,73421 of low, when the rest of the whole world show Bid prizes at least 90 pips higher at 1,7434... naturally hit my stoploss of long position!
Nov 17, 2007,
Fineco promise a slippage of 3 pips but often it is much wider. Very often the system does not work...
Jul 25, 2008,
SCAM SCAM SCAM
A V O I D this broker, they simply stole your money. During their night marker closures they move prices over 200 pips to catch your automatic stoploss.
1 trader has found this review helpful
Sep 19, 2007,
I'm not an expert trader. I use fineco but its somewhat expensive (3 pips for eur/usd). Using it until I can find a better broker.
Mar 30, 2012,
I started trading with them only because I wanted an Italian broker to avoid foreign tax management.
No, they don't scam. BUT..
High spread, free platform really basic (I used it only to open and close orders, for graphics I used a MT4 with the most similar data streaming) and, most important, absurd operative limitations as mentioned above.
- difference between intraday/multiday orders,intraday with automatic SL 0.5% (you can add lower SL and TP), multiday with automatic SL 1%, SL/TP NOT AVAILABLE!!
- It's not possible opening or managing open orders during the night!!
- High latency = relevant slippage. Sometimes it was positive for me
- Fast but non competent support
IMHO good only for scalping or intraday, paying really high attention to every minimal variation. (By the way, I was laying on my bed with a broken leg so this wasn't a problem).
They're a bank (a really good online bank) and Forex is probably not enough interesting for them.
Well, after some months of tough and dangerous training with them, now I can be consistently proficient (and more relaxed) with a serious ECN foreign broker
May 26, 2015,
Very trustable (it'a a very good online bank) and with 1% automatic SL for your safety.
Clever Leverage of max 50:1 for Multiday and 100:1 for intraday trading.
Poor owner Platform (i use MT5 for graphs and insert orders on it site)
They turn off servers at 2 AM and reopen at 6:15 AM European central time GMT+1, so u can't insert orders in this time lapse but your previously orders are still active.
Pretty high fixed spreads (eurusd 3 pips) but reliable and no slippage (of course not mention "black swan" or high volatility like every broker)