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Fineco platform is not for trading CFD


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Topic starter
(@the_trader)
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Joined: 8 months ago

Years ago I opened a Fineco bank account for give a try with CFD, but clearly Fineco platform is not a good broker at any CFD.

With Fineco you can open only a position per time (therefore no edging strategy is possible).
Differently from other platform, Fineco doesn't offer any rollover for certain CFD; therefore if the contract ends and your position is through a certain planned strategy, your strategy will be messed up and the position will be closed at market value (actually at value that Fineco likes) at the contract closure.
Fineco closes its CFDs at 10pm and opens again at 8am, if in the meanwhile the market has a night nap, it will skip any stop loss and you will have a painful surprise in the morning.
For Crude Oil, one of the most traded CFDs, you can open only 1, 2, 3, 4 or 5 units, each unit corresponds to 1000 barrels. No chance to have smaller positions. Other platforms offer possibility to open positions from 10 to 10,000 barrels.

Fineco pretends to be a CFD broker, but it is not... I am not surprised they do dodgy things as well.

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