FinecoBank and Interactive Investor serve similar clientele.
Each features a unique catalogue of products and services, which can make it confusing when deciding on the platform that’s best for you.
After using both of these services, I’ve created a comparison review to help give you a better idea of what both of these platforms have to offer.
Table of Contents
FinecoBank is an Italian bank founded in 1999 that specialises in online brokerage.
In 2014 it became a listed company and has been an independent entity from UniCredit banking company since 2019.
The Bank of Italy regulates the operations and services of FinecoBank because it’s an Italian Bank. The company operates in the UK and is regulated by the Financial Conduct Authority (FCA).
It entered the UK market in 2017, providing various financial services and products.
In the UK market, the company primarily offers CFD trading services to its UK clients. UK investors can trade on multiple assets available on the FinecoBank platform, ranging from stocks, shares, hard metals, and energies to currencies, futures, and options.
Even though FinecoBank is relatively new in the UK market, it has received abundant accolades from the UK finance industry.
In 2020, it received the following awards from the London Forex Show:
- Best Trading Tools
- All Round Provider
- Trading Platform
In my review, I primarily focus on the FinecoBank products and services which serve the UK market.
Read my full FinecoBank review.
Interactive Investor is a UK-based investment platform that is 100% equity funded, with zero debts and was founded in 1995.
It currently has an estimated net value of £100 million. The limited liability company is privately owned, with all its funds professionally managed and advised.
The majority funds advisor at Interactive Investor is J.C. Flowers & Co. Flowers & Co. After its 2019 merger with Alliance Trust Savings; the platform became the most significant investment platform in the UK.
Read my full Interactive Investor review.
FinecoBank stands out with its impressive catalogue of financial assets. The bank has a multi-currency investment platform featuring stocks, shares, futures, foreign exchange, exchange-traded funds, and other financial instruments.
Investors have a golden opportunity to create a diversified investment portfolio when using FinecoBank. The bank, however, needs to provide UK customers with corporate accounts and SIPPs.
FinecoBank functions as a multi-currency trading and commercial banking platform.
FinecoBank provides UK investors with 26 global markets, with the freedom to trade in more than 20,000 financial instruments.
Some popular global markets on the platform are the London Stock Exchange, Toronto Stock Exchange, and US Stock Exchange.
Investors can trade and hold funds in more than 20 currencies in one account, including GBP and EUR.
Apart from providing real-time exchange rates and speedy online currency exchange, FinecoBank doesn’t charge currency conversion fees. UK investors also get no markups on FTSE100, EU, and US Shares CFDs.
Currently, UK customers using FinecoBank can trade using the following financial instruments:
- UK shares and ETFs
- EUR and UK shares and ETFs
- Foreign exchange (forex)
FinecoBank has the following investment options for its UK customers.
Stocks and Shares ISA
FinecoBank UK customers enjoy a tax-efficient method of growing their money using the Stocks and Shares ISA. The current maximum investment is capped at £20,000 annually, with the freedom of choosing various financial instruments, ranging from funds, UK equities, shares, ETFs, and bonds.
Interestingly, FinecoBank has no minimum investment when opening a Stocks and Shares ISA account. Users must pay a 0.25% annual platform fee, capped at £2.95 monthly.
The trading account provided by FinecoBank is the most popular service in the UK market. It provides users with a detailed overview of the financial markets. Some essential information about the financial market offered by the platform includes live quotes, leading figures, a security summary, and comprehensive reports.
FinecoBank doesn’t charge currency exchange fees, and UK clients enjoy trading unlimited shares in USD once they convert their GBP to USD.
FinecoBank allows its UK customers to enjoy 24/7 trading on IDEM, Futures on CME, and EUREX. It also has CFDs Foreign Exchange, Futures, and Indices on Commodities CFDs, allowing clients to enjoy commission-free trading and trade in any direction.
Trading CFDs with FinecoBank is available 24/7. FinecoBank provides Trade the Volatility Index (VIX) with diverse trading options on the CBOE market, S&P, Dow Jones, US stocks, Russel, and Nasdaq indices.
Thanks to the bank’s Automatic ETF arrangements, UK customers can set their preferred regular saving plan based on several ETFs with a minimum monthly contribution of £2.95.
The trading account at FinecoBank offers extensive bond offerings and access to gilts and government bonds. Customers also easily access more than 6,000 structured, foreign and corporate securities.
Even though trading is the most popular service offered by FinecoBank to UK customers, it also provides banking services.
UK customers with active bank accounts with FinecoBank enjoy free withdrawals in the UK and EU when using their GBP or EUR debit cards. The EUR debit card can pay recurring bills in the UK without attracting any extra fees.
FinecoBank provides 24 instant money transfers to Euro banks. Sending money globally is speedy and simplified, with FinecoBank online transfers covering more than 250 destinations using more than 20 currencies.
FinecoBank customers can make payments using their smartwatches and smartphones without using their cards.
Customers with enormous spending can extend the Fineco card limits to a maximum of £10,000 to accommodate large purchases. The FinecoBank card is also the preferred payment option when traveling using the London network.
Interactive Investor has an expansive list of investment options for a UK investor, whether you are an experienced or a newbie investor.
The trading account at Interactive Investors has the following investment vehicles:
- Investment Trusts
- Stocks & Shares
- Venture Capital Trusts (VCTs)
- Investment Funds
- ETFs (Share ETFs and Index ETFs)
- Bonds & Gilts
The product offering provided by Interactive Investor includes:
- Leveraged Trading
- Spread Betting (Spread Trading)
- Contracts for Difference (CFDs)
- FX Trading and Options
ISA & SIPP:
- Junior Stocks and Shares ISA
- Stocks and Shares ISA,
- Self-Invested Personal Pension (SIPP)
- Junior Cash ISA
Quick Start Funds:
- 0.28% (LifeStrategy® 20% equity fund)
- 0.27% (LifeStrategy® 60% equity fund)
- 0.27% (LifeStrategy® 80% equity fund)
- 0.35% (BMO Sustainable Universal MAP Cautious fund)
- 0.35% (BMO Sustainable Universal MAP Balanced fund)
- 0.35% (BMO Sustainable Universal MAP Growth fund)
ii Super 60:
- Super 60 Equities
- Super 60 Alternatives
- Super 60 Fixed Income
- ii ACE 40
- Active Growth: 10 funds and trusts which are actively managed.
- Active Income: 10 funds and trusts are high yielding and actively managed.
- Low-cost Growth: 9 tracker funds and ETFs, which are low-cost.
- Low-cost Income: 9 tracker funds and ETFs are high-yielding and low-cost.
Interactive Investor has the best catalogue for investment vehicles, featuring products suitable for all types of customers based on their experience and investment value. The investment vehicles are tailored to meet the different needs of investors.
Since the platform is predominantly for investment purposes, it might suit investors looking to combine investing with additional banking services.
FinecoBank offers competitive and cost-effective investment products and services for its customers. There are no inactivity charges, portfolio transfer costs, monthly accounts, custody, and deposit fees.
Additionally, customers aren’t required to make any minimum deposit. Nevertheless, there are other charges that the platform has based on the type of account the client has. Below is a breakdown of the FinecoBank costs.
|UK SHARES||Fixed commission of £2.95 per trade.|
|SHARES CFDs||Fixed commission of £0 on FTSE100, US & EU share CFDs, with no additional spread applied by the platform. On FTSE250, a 0.06% markup per side is applied.|
|EU SHARES||Fixed commission of €3.95 per trade. Trade Ger, Fra, and Ita Shares at a flat fee.|
|EUR ETFs||Fixed commission of €3.95 per trade on Ger, Fra, and Ita ETFs.|
|FUTURES||Commission as low as $0.7 on CME Micro Futures and €0.75 on Mini DAX. Enjoy flexible clearing margins.|
|INDEX CFDs||Spread as low as 0.4 points on S&P 500 and 0.6 on Nasdaq 100 & FTSE 100. Power desk platform accessibility.|
|CFDs FX||Spread as low as 0.8pips on EUR/USD. Trade 50+ FX pairs worldwide. Choose a base currency but access many others.|
|OPTIONS||Commission as low as $1.95 per lot on S&P, Nasdaq, D.J. Russell, VIX Indices, and US Stock Options.|
|FUNDS||Max annual platform fee 0.25%. The more you hold in your portfolio, the less you pay. No charge to open an account.|
|BONDS||Fixed commission of £6.95 on Euronext, MOT/EuroMOT, HI-MTF, and EUROTLX. Your portfolio is updated in real-time.|
FinecoBank provides cards at zero charge to the customer.
Other free services offered by the bank under their bank cards include:
- Contactless debit card (zero charges on the first EUR and GBP card, £9.95/year (optional) for a second card.)
- UK ATM withdrawals and payments (unlimited with GBP cards)
- EU ATM withdrawals and payments (only in Eurozone)
- UK bank transfers (unlimited)
- SEPA bank transfers (unlimited)
- EUR SEPA direct debit (unlimited)
- Maxi-purchase (up to £10,000 at a time)
- Budget tracker
The bank also offers free online currency exchange.
Interactive Investor offers its customers various investment plans, each featuring a fixed monthly fee and different trading fees, which meet the clients’ investing needs.
Customers who want to change their goals aren’t charged any exit fees.
Below is a breakdown of the costs implemented by Interactive Investor on the various investment plans.
|Investor Essentials + Plan||Investor Plan||Super Investor Plan||Pension Builder|
|Monthly subscription||£4.99 (Stocks and Shares ISA and Trading Account)||£9.99 (Stocks and Shares ISA, Junior ISA, and Trading Account), +£10 per month inc. VAT (SIPP)||£19.99 (Stocks and Shares ISA, Junior ISA, and Trading Account), +£10 per month inc. VAT (SIPP)||£12.99 (SIPP (Self-Invested Personal Pension)|
|Friends and Family||+£5 per month||+£5 per month||Zero charges||+£5 per month|
|Free monthly trade||Not available||One free monthly trade||Two free monthly trades||Not available|
|Free regular investing||Available||Available||Available||Available|
|UK shares and funds, US shares||£5.99||£5.99||£3.99||£5.99|
|Other international shares||£19.99||£19.99||£5.99||£19.99|
Customers who are making more than £100,000 worth of UK trades and international trades with more than £25,000 enjoy the following charges:
- Trading UK shares, exchange-traded products, funds (unit trusts or OEICs), gilts, and bonds with a minimum value of £100,000 attracts a flat fee of £40.
- Trading international shares with a minimum value of £25,000 have a 0.10% fee of trade value.
- Trading conducted via telephone has a service charge fee of £49.
Interactive Investor has the following charges on currency exchange transactions based on the value of the transaction.
|Transaction Value||Margin Rate|
|£0 – £24,999.99||1.5%|
|£25,000 – £49999.99||1.25%|
|£50,000 – £99,999.99||1.00%|
|£100,000 – £599,999.99||0.50%|
|£600,000 or more||0.25%|
Interactive Investor also pays its customers interest on their British pound cash balances. The rates vary from one account to another.
|Account Type||On the first £10,000||On the value from £10,000.01 to £100,000||On a value over £100,000|
|ISA and Junior ISA||Gross 1.50% and 1.51% AER||Gross 2.50% and 2.53% AER||Gross 3.50% and 3.56% AER|
|Trading Accounts||Gross 1.50% and 1.51% AER||Gross 2.50% and 2.53% AER||Gross 3.50% and 3.56% AER|
|SIPP||Gross 2.25% and 2.27% AER||Gross 3% and 3.04% AER||Gross 3.50% and 3.56% AER|
FinecoBank has a simplified payment structure with the fees attached to the specific investment vehicle opted for by the customer. Compared to Interactive Investor, FinecoBank is more affordable.
Interactive Investor has four primary pricing plans: Investor Essentials + Plan, Investor Plan, Super Investor Plan, and Pension Builder.
Investors are required to pay monthly subscription fees ranging from £4.99 to £19.99. The platform also charges additional fees, including currency exchange fees and interests on British pound cash balances.
FinecoBank stands out for being a more affordable investment platform.
Platform & Mobile App
FinecoBank has a UK trading platform accessible via the web and mobile applications.
The built-in-house platform is called PowerDesk, and it is designed and customised to offer novice and advanced traders the best trading tools and resources.
Besides providing the traders with detailed technical analysis, they can enhance their trading experience by customising the FinecoBank online trading space.
The website platform of FinecoBank is well structured with easy navigation capabilities. The platform’s layout and design suit novice and experienced traders and investors.
One can add several charts on the screen when analysing various financial markets.
The FinecoBank mobile app is one of the best features of the financial institution. It is compatible with iOS and Android devices and has an intelligent, easy-to-use design and layout.
The stock screener functionality on the app is convenient for active traders by allowing them to explore and analyse various financial markets. You can also use the mobile application to trade.
All the transactions on the mobile application are confirmed using face or touch ID, thus enhancing the application’s overall security.
Interactive Investors has a user-friendly and well-designed web trading platform.
You must go through a two-step authentication when making your first login on a new device. But subsequent signing-in procedures require one password.
Traders can create custom notification alerts on market changes via email or SMS.
The platform also features a comprehensive search button, which allows traders to search for financial vehicles based on the investment type, company’s name, or an asset ticker.
Apart from the web platform, Interactive Investor customers can access the platform using the dedicated mobile application.
The mobile application has the same features and functionality as the web platform but with enhanced convenience.
Interactive Investor has ensured added security by providing face and fingerprint recognition as part of the login process.
Customers can even access customer support from the Interactive Investor mobile application.
Interactive Investor and FinecoBank both offer an impeccable user experience across their websites and mobile applications.
Investors can access all the features present on the web platform from their mobile phones when they download the mobile applications.
The applications are compatible with iOS and Android devices and feature impressive mobile optimisation. Users can opt for biometric identification on mobile applications for a more secure experience.
Research & Education
FinecoBank has an extensive resource centre for its customers. The provider also has classes for novice traders, and their educational content includes videos, blogs, and tutorials.
The educational content covers various critical metrics of financial investment. FinecoBank also holds educational webinars featuring their in-house analysts, who give detailed discussions about the fundamental market changes.
The FAQ section on the FinecoBank platform makes it easy for customers to have more information regarding some of the common questions asked in the past.
Interactive Investors has an impressive collection of research tools and resources that customers can utilise when investing or making share dealing decisions.
Notable research features present on the platform include:
- Charting featuring 11 different technical and financial indicators
- Screeners, which are integrated with Recognia. They present highlights of the common technical patterns.
- Free research account
Even though FinecoBank has comprehensive research resources and tools for its clients, it offers less than Interactive Investor.
Interactive Investor features a free research account granting investors access to information from in-house and external analysts.
The screeners on the Interactive Investor platform are integrated with Recognia, thus presenting technical patterns in a simplified manner. The charts have 11 different technical and financial indicators, showing real-time changes in the financial market.
Services & Features
FinecoBank has the following key features which are instrumental in enhancing the overall user experience of its UK customers:
The FinecoBank MoneyMap enables customers to create personalised budgets and get more financial control while attaining their financial goals quickly.
The feature uses AI technology to categorise the various expenses of a customer into customised groups.
Users can analyse and control their spending, thus saving more. The feature is integrated into the FinecoBank accounts, and customers can use it free of charge after activating it.
The trading resources provided by FinecoBank enable UK customers to make more informed and wise trading decisions.
The financial service provider has an on-demand Video Library featuring various past webinars held by in-house experts covering multiple topics.
Some topics covered by the webinars include techniques for volatile markets, investing essentials, and market trends.
FinecoBank hosts live events where customers can meet trading experts and get one-on-one professional coaching. The other option would be accessing the trading courses on the platform.
Trade Three Ways
FinecoBank gives traders three primary methods of navigating the financial markets: Fineco App, PowerDesk, and Fineco’s Web Platform.
PowerDesk is a complex trading platform accessible from the Fineco bank web platform. It offers traders intuitive technical analyses, chart trading, technical analyses, and personalised dashboards. All the information is accessible from one screen.
Fineco’s Web Platform provides traders with easier access to the financial markets via live quotes and an intuitive search option.
The platform makes it easy for traders to track their securities and more. On the other hand, the Fineco App comes with high convenience for traders.
Traders can enjoy all the trading features and capabilities from the palms of their hands. They can also personalise the charts and have access to live P&L updates, timely quotes, and news.
Interactive Investor is a top investment platform featuring various services and features that enhance the overall user experience of its customers.
The top features available on the platform include:
Quick Start Funds
They are designed to ease the investing process of Interactive Investor customers. Investors can pick their preferred Plan based on their risk appetite.
Interactive Investor has six Quick Start Funds that are competitively charged and provided by Vanguard and BMO.
Vanguard offers three passively managed funds that focus on increasing the return on the investment over time-based on the market’s performance. BMO, on the other hand, has three actively managed funds to deliver higher returns than the market.
Interactive Investor has five model portfolios that help investors achieve their investment goals. They are classified into growth, income, and ethical portfolios.
Growth profiles focus on increasing the money invested over a period, while income portfolios give investors a golden opportunity to get regular income.
Ethical portfolios are selected based on the personal principles and values of the investor.
Free Research account
It is free to open and provides investors with additional insights, email updates, watchlists, and virtual portfolios. The account is helpful for DIY investors who want to use as much information as possible when making investment and trading decisions.
Ethical Investing: ACE & ACE 40
Interactive Investors offers its clients three ethical investment options called ‘ACE’: ‘Avoid,’ ‘Considers,’ and ‘Embraces.’ These investment vehicles are carefully selected and are guided by strict social governance and environmental criteria.
The platform lists ACEs 40 -featuring more than 140 ethically focused investment options. Investors can then pick their preferred investment option, which is socially and environmentally responsible and in line with their values.
Pension Trading Account
Investors can link the pension trading account with SIPP or SSAS and still operate by their preferred pension provider.
Holders of this account can trade in a range of investment trusts, shares, funds, and ETFs. The pension provider will handle all the payment details and update the investor’s details.
The Interactive Investor Company Account allows investors to trade using the name of a limited company registered in the UK. Investments can be made in UK equities, funds, investment trusts, ETFs, and international equities.
Interactive Investor offers more investment services to its clients than FinecoBank.
FinecoBank has the following investment services; MoneyMap, trade three-way and trading resources.
But Interactive Investor offers its customers model portfolios, QuickStart funds, free research accounts, ethical investing pension trading accounts and company accounts.
These services make it easy for investors to meet their various investment and asset management needs and goals.
The customer support at FinecoBank is responsive. Customers can contact customer support via:
- Live chat
- Telephone: 0800 640 6465
Customer support is available from Monday to Friday, from 8:00 am to 9:00 pm. The financial institution’s customer support is available for its current clients and individuals who don’t have accounts with the bank.
You can also interact with the FinecoBank customer support team on various social media platforms:
- Facebook (https://web.facebook.com/fineco/?brand_redir=1613005658991900)
- LinkedIn (https://www.linkedin.com/showcase/fineco-bank-uk/)
- Twitter (https://twitter.com/finecobankuk/).
The Interactive Investor platform provides customers and target markets with various ways to contact the customer support team. Currently, the Interactive Investor customer support team is available via:
- Mail: 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.
- Instant messaging and live chat
- Phone: 0345 607 6001 (7.45 am to 5.30 pm (GMT) Monday to Friday)
Interactive Investor is active on various social media platforms where clients can find additional help from the customer support team.
- Twitter (https://twitter.com/ii_couk)
- Facebook (https://web.facebook.com/weareii?_rdc=1&_rdr)
- LinkedIn (https://www.linkedin.com/company/interactive-investor/)
FinecoBank and Interactive offer various ways of contacting customer support, including different social media handles.
However, the platforms don’t provide 24/7 customer support.
Customer support is available for active clients and potential clients. Customer support is accessible via websites and mobile applications.
FinecoBank wins since their phone customer support option offers more hours than Interactive Investor.
Pros of Each
- Excellent mobile application
- The trading fees are low
- A credible and safe platform
- It’s an award-winning financial provider
- An award-winning online trading platform
- The platform is very user-friendly
- Economical for clients with large portfolios
Cons of Each
- Deposits are only made through bank transfers
- A slow verification process
- No SIPP offering at the moment
- Slightly high trading fees
- The charting tools are basic
If you find that FinecoBank and Interactive Investor don’t offer what you need, here are some great alternatives to consider:
Hargreaves Lansdown is considered one of the UK’s best and most popular investment platforms. It is user-friendly and offers the best services and products for both novice and experienced investors. It also has an impressive customer service.
Read my full Hargreaves Lansdown review.
Founded in 1995, AJ Bell You Invest has become a prominent UK discount broker, featuring an impressive long-standing record of providing high-quality and safe investing environments. The user-friendly platform suits novice investors with small and medium investment profiles.
Read my full AJ Bell review.
The multi-asset platform provides various services which are essential for modern investors. eToro offers to invest in crypto assets and stocks and trading in CFDs. Established in 2007, the company has attracted more than 30 million registered users with access to various investment vehicles based on the investors’ needs and preferences.
Read my full eToro review.
FinecoBank vs Interactive Investor – Final Thoughts
FinecoBank and Interactive Investor are both popular financial platforms in the UK.
FinecoBank provides trading and investment services combined with banking services, while Interactive Investor is exclusively an investment platform.
Due to the unique products and service offerings the two companies provide, each has different charges associated with their products. UK investors looking for exclusively an investment platform will significantly benefit from opening an account with Interactive Investor.
But, if you want additional services like banking services when investing, then FinecoBank will meet your needs. The two platforms have received awards and recognition from the UK financial market due to their impressive service and product delivery.
Hopefully, my comparison of these companies has provided you with some insight that you can use to decide which one is best for you.