LONDON, May 14, 2020
- Offers free trading without the 'buts' of other services
LONDON, May 14, 2020 /PRNewswire/ -- FinecoBank today announces the launch of zero-commission trading, with no added spreads, on thousands of equity CFDs.
With the new business model, the European-headquartered bank is offering commission-free trading at a premium level in the UK market, reaching beyond existing platforms to cater for professional and serious traders. The offering will provide customers trading at the same price as the stock exchange, with no spread, commission or hidden costs.
This announcement follows record high results in executed orders and volumes by FinecoBank this year. Fineco enrolled 7,275 new clients in April, with total clients up over 4% year-on-year to over 1.36 million. The number of executed orders more than doubled in the course of Q1 2020 to 6.2 million orders. Strikingly, the number of new FinecoBank customers who have started trading since March is 3 times the usual average we have seen in the pre-covid period. There has been an exceptional uptick in the number of new customers trading within the first two months of their FinecoBank relationship, indicating a strong performance by FinecoBank's acquisition channel and reflecting no doubt that more clients are working from home and have extra time to start or expand their trading.
FinecoBank customers can now trade equity CFDs from a single multi-currency account without commission. This is part of the company's integrated and multi-asset trading solution, which covers equities, ETFs, CFDs, FX options and futures. All products can be accessed in a single unified portfolio.
Paolo di Grazia, Deputy General Manager of FinecoBank said:
"As the number of traders increases – with more people looking to actively invest – the ability to trade equity CFDs for free is a vital advantage. In the market, there is always a catch, or a case of 'zero-commission, but.' I am pleased to be able to offer zero-commission trading for FinecoBank customers with no compromise. We have built on the fact that we are an established European bank and can continue to provide an unrivalled offering for those who are serious about trading and can benefit from our operative leverage."
FinecoBank provides traders with the full power of a trading room with no hidden costs or minimum deposit. The workstation enables real time prices, advanced charts and professional features to buy and sell securities, currencies and futures across the world's largest markets.
Find out more: https://finecobank.co.uk/public/
FinecoBank is one of the most important FinTech banks in Europe. The company offers single account banking, credit, trading and investment services through its transactional and advisory platform developed with proprietary technologies, combined with one of the largest financial advisory networks in Italy. Fineco is a bank leader in brokerage in Europe, and one of the most important private banking providers in Italy.