Comparing online share dealing platforms side by side is no small task. For our 2022 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare Fineco Bank and DEGIRO.
Fineco Bank vs DEGIRO Comparison
For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Fineco Bank vs DEGIRO.
Is Fineco Bank a good broker?
For the price-conscious trader, FinecoBank is a solid share dealing option with a broad range of investment options; but educational materials and research reports are lacking.
Is DEGIRO a good broker?
Despite a subpar trading platform, DEGIRO offers cheap stock trading, charging only £1.75 + a £1 handling fee per trade, with a maximum charge of £5. Fees for trading funds, however, are more costly. DEGIRO lags competitors in fundamental research and education, and does not offer ISA or SIPP accounts.
Which broker is less expensive?
Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, DEGIRO offers better pricing than Fineco Bank for share dealing.
Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.
5 trades per year - Fineco Bank would cost £75 per year, while DEGIRO would cost £13.75 per year.
12 trades per year - Fineco Bank would cost £35.4 per year, while DEGIRO would cost £33 per year.
36 trades per year - Fineco Bank would cost £106.2 per year, while DEGIRO would cost £99 per year.
120 trades per year - Fineco Bank would cost £354 per year, while DEGIRO would cost £330 per year.
3 fund trades per year - Fineco Bank would cost £0.0 per year, while DEGIRO would cost £0.0 per year.
How do Fineco Bank and DEGIRO compare in terms of minimum deposits required?
Fineco Bank requires a minimum deposit of £0.0, while DEGIRO requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 Fineco Bank charges annual custody fees of 0.25%, while DEGIRO charges annual custody fees of 0.20%.
Which broker offers a wider range of investment options?
Fineco Bank offers investors access to ISA, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate and Bonds - Government (Gilts), while DEGIRO offers investors access to Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. Neither have SIPP, Spread Betting, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.
Do Fineco Bank and DEGIRO offer ISA or SIPP accounts?
Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Fineco Bank offers traders access to ISA accounts, while DEGIRO offers traders access to neither of these accounts. Neither have SIPP.
Do Fineco Bank and DEGIRO offer cryptocurrency?
In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Fineco Bank and DEGIRO offer crypto investing.
Which broker offers better research?
Our testing concluded that Fineco Bank is better for research than DEGIRO. Fineco Bank offers more research options, including research reports, articles, and analyst ratings.
Which trading platform is better?
To compare the trading platforms of both Fineco Bank and DEGIRO, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Fineco Bank offers a better share dealing platform and Fineco Bank offers a better stock app for mobile trading.
Do Fineco Bank and DEGIRO offer educational resources?
Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Fineco Bank offers traders access to Client Webinars and Client Webinars (Archived), while DEGIRO offers access to Education (Share Trading). Neither have Education (Funds) and Education (Retirement).
Overall winner: Fineco Bank
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