Our bottom line
Fineco gives you an impressive range of trading tools at an affordable price.
Opening a platform is easy, with very few obstacles. You don’t even need a minimum amount to get started.
This strikes the perfect balance for traders of all abilities.
Top feature of Fineco’s Stocks & Shares ISA
Fineco is one of the cheaper brokerages we’ve reviewed. However, its research tools are far superior to many of its low-cost peers. Add up all of the ways you might use this account – I think you’d be hard-pressed to find better savings elsewhere.
I don’t mention this purely for financial reasons, either. It also makes the platform more enjoyable to use. Whenever fees are innumerable and complicated, investing becomes an unpleasant chore. Not so with Fineco.
Fineco’s commission prices
Fineco’s ISA has no dealing charges on funds.
Meanwhile, UK share trades cost only £2.95 each. This is considerably less than most other brokerages. Elsewhere, it’s not unusual to pay £10 per trade.
If you’re trading regularly, this has obvious benefits. Buy and sell just 5 shares with Fineco, and you might save around £70 in commissions.
Bonds have low transaction costs – just £6.95 each.
Long-term investors also avoid dividend reinvestment fees on ETFs and funds.
As you may know, a Dividend Reinvestment Plan (DRIP) lets you roll dividends into new shares. Historically, it has been one of the most effective ways to snowball your wealth over time.
But these transactions are regular, and often have added fees. Avoiding DRIP fees with Fineco could save you a small fortune over your lifetime.
Fees you should know about
Fineco’s platform costs 0.25% of your account balance per year. This is calculated and charged monthly.
However, on your shares, ETF and bond holdings, the fee is capped at just £2.95 per month.
Buying shares, ETFs and funds with a Fineco account
Fineco’s “Powerboard” makes it faster and easier to place trades.
It opens in a small, separate window whenever you’re ready to buy.
This mini platform can be customized with whichever tools you need. These include news streams and monitors, which track the stock’s previous trades as they happen.
You can also place orders instantly from a stock’s price chart.
Set a horizontal line at your desired price level. Right click, and enter the quantity you wish to buy. If the stock reaches your target price, the trade executes automatically.
It’s easy to adjust. Drag and drop the line to any new target whenever you wish. Or delete it with a single click.
Fineco’s platform is available on desktop and mobile.
It’s all fully customisable. Set your dashboard to show only the tools you need. This is terrific if you’re a beginner. You can make your dashboard clean and simple, adding new tools as your skills improve.
Fineco is clearly geared towards the technical trader. (Those using chart patterns and indicators to judge where an asset is heading next.) For this reason, beginners may need some time getting used to the flashing bars and gizmos.
However, don’t let this scare you off. In fact, you have the option to schedule a live demo with a personal trading coach. And you can do this before you even open your account.
Fineco’s research offerings
For technical traders, Fineco has all of the usual chart tools you’d expect. These include bar and candlestick charts, with over 90 technical indicators.
Meanwhile, 6000+ daily reports stream in from top sources like Reuters and MF Dow Jones.
Data is free to export onto your desktop. And you can save your technical analysis studies on the dashboard to quickly recall later.
Things to watch out for
Opening your Fineco Stocks & Shares ISA is quick and easy. And you don’t need a minimum balance to begin.
However, depending on where your savings are now, you may find it difficult to fund your account. Cash transfers must be placed from a standard Fineco bank account. Realistically, if you want to add regular savings to your Fineco ISA, you’ll need a current account with them as well.
Alternatively, you can transfer an existing ISA from elsewhere, but this is typically a slower process.
Service and support
Customer support can be reached by phone, email or live chat. Better still, they don’t hide the phone number, or make you run a gauntlet of troubleshoot questions.
On the contrary, when you land on Fineco’s contact page, you’re greeted with one big, bold phone number. “Call us,” it says. “We won’t keep you waiting.”
On Trustpilot, Fineco Bank UK scores 4.3 out of 5 stars. As I write this, 89% have rated it ‘Excellent’ or ‘Great.’
Is a Fineco Stocks & Shares ISA a good choice for you?
If you’re a technical trader – beginner, intermediate, or expert – Fineco is probably a good option for you to consider.
Investors drip-feeding their savings into stock markets especially will appreciate the low, transparent fees. And the trading tools are genuinely impressive. Many brokerages in this price range don’t offer nearly as much.
Really, however, it’s for people who are interested in trading and investing. Particularly with price chart analysis. If you’re not bothered, but just want to hold ordinary shares, you may find the platform unnecessarily complicated.
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