Head to head
Directa SIM vs Fineco — which broker is better?
Directa SIM or Fineco? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Directa SIM
Online SIM since 1995 for investors in Italy: three commission profiles, no custody fee, a free ETF savings plan and tax handled under the regime amministrato.
- Stocks (per order)
- €5
- Minimum deposit
- None
- 5,000 order
- €5
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Fineco
A listed Italian trading bank: ECB-supervised, broad market access and the regime amministrato — built for Italian residents.
- Stocks (per order)
- 0.19 %
- Minimum deposit
- None
- 5,000 order
- €9.50
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
The verdict in numbers
Four decision axes, each derived from the recorded data.
Overall Fineco takes it, 4.1 against 4.0 out of 5. Directa SIM is the cheaper of the two: a reference EUR 5,000 stock order costs €5.00 there against €9.50. Fineco scores 88 against 49 out of 100 on the group index. Your account's protection depends on its legal entity. Both cover 12 of 14 asset classes. On platform and app Fineco is ahead, 4.3 against 3.9 out of 5. Which one is right depends on which of these axes matters for your trading profile.
- Directa SIM
- 4.0
- Fineco
- 4.1 — Better
- Directa SIM
- €5.00 — Better
- Fineco
- €9.50
- Directa SIM
- 49 of 100
- Fineco
- 88 of 100
- Directa SIM
- 12/14
- Fineco
- 12/14
- Directa SIM
- 3.9
- Fineco
- 4.3 — Better
Compare brokers side by side
Up to four brokers at once — every row a decision point.
Data as of: 02 Nov 2026
| Criterion | Directa SIM 4.0 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. | Fineco 4.1 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. |
|---|---|---|
| Overall score | 4.0 | 4.1 — Better |
| Group index | 49 of 100 | 88 of 100 |
| Best for | Investors resident in ItalyActive traders on Borsa ItalianaETF savers using a free PACInvestors who want the regime amministratoFutures and options traders on IDEM and Eurex | Italian tax residentsClients who want a current account and a broker in one bankActive traders in Italian futures and optionsBuyers of ETFs on the zero-commission listBond and BTP investors |
| Regulation | CONSOBBanca d'Italia | ECBBanca d'ItaliaCONSOB |
| Top-tier licences | 0 | 1 — Better |
| Investor protection | €20,000 | €100,000 — Better |
| Listed group | Yes | Yes |
| Banking licence | No | Yes |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | No |
| Audited financials | Yes | Yes |
| Disclosed regulatory actions | 4 | None |
| Founded | 1995 | 1999 |
| Headquarters | Turin, IT | Milan, IT |
| Fees | 4.2 — Better | 3.6 |
| Safety & regulation | 3.6 | 4.6 — Better |
| Trading platform | 4.2 | 4.3 — Better |
| Product range | 4.3 | 4.6 — Better |
| Mobile app | 3.5 | 4.3 — Better |
| Research | 3.6 | 3.8 — Better |
| Customer support | 4.0 — Better | 3.6 |
| Deposit & withdrawal | 4.0 | 4.1 — Better |
| Account opening | 4.2 | 4.2 |
| Education | 3.7 | 3.8 — Better |
| Reference order EUR 5,000 | €5.00 — Better | €9.50 |
| Minimum deposit | None | None |
| Stocks (per order) | €5 — Better | 0.19 % |
| US stocks | US$9 — Better | 0.19 % |
| ETFs | €5 — Better | 0.19 % |
| Options | €2.50 | tiered |
| Futures | tiered | tiered |
| Crypto | 0.2 % | in the spread |
| Bonds (order) | €5 — Better | 0.19 % |
| Funds (order) | 0.19 % | €9 — Better |
| EUR/USD spread | n/a | 1.0 pips |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | 0.3 % |
| Inactivity fee | None | None |
| Custody fee | None | None |
| Withdrawal fee | free | free |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 12 | 12 |
| Exchanges | n/a | 26 |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | Yes | Yes |
| Spread betting | No | No |
| Social trading | No | No |
| Crypto access | crypto derivatives only (no coins of your own) | crypto derivatives only (no coins of your own) |
| Platforms | dLiteDarwin 2LiberaDirecta AppDirecta APITraderlink Visual Trader | Fineco websiteFinecoXFineco app |
| Demo account | Yes | No |
| Fractional shares | No | No |
| Maximum leverage | Margin trading on shares: dynamic margin of up to five times the available cash on selected stocks, with margins of 50% to 20% depending on volatility (10%… | 1:28.57 · Pro 1:100 |
| Account opening | Online in a few minutes with Italian digital identity: SPID, the electronic identity card (CIE) or SelfID with a codice fiscale, signed by OTP; the contract is normally active within minutes | Online for private clients (Fineco account or Conto Fineco Trading); Fineco says the Conto Fineco Trading opens with a selfie. According to Fineco's contact FAQ, accounts for non-residents or Italians registered with AIRE are finalised at a Fineco Center. Derivatives, CFDs, Fineco certificates and crypto products need a separate free activation with the MiFID questionnaire and an appropriateness assessment. The document requirements of the online flow could not be read |
| Account types | Conto Directa (direct account)Indirect account via a partner bankInvesti Italia PIRCorporate account | Conto Fineco TradingFineco OneFineco ClassicFineco MaxCashPark |
| Payment methods | Bank transferSEPASEPA Instant | Bank transferSEPASEPA InstantCheque |
| Account currencies | EUR | EURUSDGBPCHFHKD |
| Deposit time | SEPA transfers are normally credited by the next business day; urgent transfers the same day if they arrive by 17:15; instant transfers from a registered IBAN within 60 minutes (the first transfer from a new IBAN within 2 to 3 business hours) | SEPA and instant SEPA transfers are credited the same business day the funds arrive; cash paid in at UniCredit group ATMs is credited by the next day, cheques become available after 4 business days |
| Withdrawal time | Free SEPA transfer to one of up to three registered IBANs in your own name, confirmed by OTP; Directa states no processing time on the pages we read | SEPA transfers are executed on the requested date; instant SEPA transfers are free and available to participating banks |
| Free withdrawals | n/a | n/a |
| Languages | ItalianEnglish | Italian |
| Channels | PhoneLive chatEmail | PhoneEmailBranch |
| Availability | Phone Monday to Friday 08:00–20:30, live chat Monday to Friday 08:00–22:00 (Italian time); e-mail at directa@directa.it | Operator line for codes, banking and credit Monday to Friday 08:00–22:00 and Saturday and Sunday 09:00–13:00 (Italian time); automated line and card blocking 24 hours a day. Phone support is included on Fineco Classic and Max; Fineco One is served by e-mail (phone only for Private and Apex clients or for card blocking and account security); the Conto Fineco Trading by e-mail to helptrading@finecobank.com, plus an automated codes line (02 3057 5859) that runs 24 hours a day. Prospects can use a chat and the toll-free number 800 92 92 92 |
Strengths and weaknesses side by side
Editorial assessment based on the recorded data.
Directa SIM
Online SIM since 1995 for investors in Italy: three commission profiles, no custody fee, a free ETF savings plan and tax handled under the regime amministrato.
Pros
- No custody, platform or market-access fee on the standard account, free transfers, and Directa pays the stamp duty on cash itself
- Italian shares and ETFs from EUR 5 per order (Semplice), down to EUR 1.50 per order for active traders (Dinamico), or 1.9 per mille with a EUR 1.50 minimum (Variabile)
- PAC in ETF savings plan free on every order, with more than 900 ETFs and ETCs and up to four dates a month
- Real-time quotes free for private clients on Borsa Italiana, NYSE, Nasdaq and AMEX
- Withholding agent under the regime amministrato: the 26% substitute tax is calculated and paid for you, and losses carry forward for 4 years
- Broad range: shares from Italy, the US, Germany, Switzerland and via Cboe Europe, ETFs on Euronext Milan, Paris and Amsterdam, bonds, certificates, options, futures on IDEM, Eurex and CME, and CFDs via LMAX
- Four in-house platforms (dLite, Libera, Darwin, Classic) plus an app, all free, and a free 15-day demo with EUR 100,000 of virtual money
- Listed on Euronext Growth Milan, audited by KPMG, with half-year reports that include client numbers: 166,261 active accounts at 30 June 2026
Cons
- Directa is a SIM, not a bank: cash held directly is covered by the Fondo Nazionale di Garanzia only up to EUR 20,000 (a EUR 100,000 bank deposit guarantee applies only to indirect accounts via partner banks)
- Several CONSOB and Banca d'Italia sanction procedures since 2024, and a pending criminal trial in Turin involving the company under d.lgs. 231/2001 and some of its officers
- Foreign markets at ordinary prices: USD 9 per US order, 0.025% with a EUR 9.50 minimum on Xetra, 0.03% with a CHF 20 minimum on SIX
- No interest on cash in the account
- Fractional shares not documented (we found no mention of them), and funding only by bank transfer from your own accounts in the SEPA area
- Built for residents of Italy: onboarding requires SPID, CIE or SelfID with a codice fiscale, and the website and tax service are Italian
Best for
Fineco
A listed Italian trading bank: ECB-supervised, broad market access and the regime amministrato — built for Italian residents.
Pros
- FinecoBank is an Italian bank directly supervised by the ECB as a significant institution, listed on Euronext Milan (FBK), with a CET1 ratio of 23.18% at 30 June 2026
- Conto Fineco Trading: no monthly fee and 0.19% per order with a EUR 2.95 minimum and EUR 19 maximum on Italian, German and US shares and ETFs
- Zero purchase commission on more than 700 selected ETFs from Fineco AM, Xtrackers, Amundi and iShares, in single orders and in Replay plans
- Regime amministrato: Fineco calculates and pays the tax on capital gains for Italian tax residents
- A very broad range in one account: shares on 26 markets, more than 4,000 bonds, BOT auctions, funds, ETFs, certificates, IDEM, EUREX and CME futures and options, and CFDs
- No custody fee, no inactivity fee and no minimum deposit; SEPA and instant SEPA transfers are free, and Fineco charges nothing for securities transfers
- Multicurrency service with 20 foreign currencies on One, Classic and Max, so trades in USD or GBP can settle without conversion
- FinecoX browser platform at no extra cost, with a multibook of up to 6 books at 10 levels, one-click orders and Excel DDE export
Cons
- Aimed at Italian residents: the service and documents are in Italian, UK operations ceased after Brexit, and accounts for non-residents can only be finalised at a Fineco Center in Italy, not online
- On One, Classic and Max an occasional investor pays EUR 19 per Italian order (USD 12.95 in the US) once the two-month entry price ends, unless monthly commissions reach EUR 100 or the holder is under 30
- Currency conversion carries a spread of 0.0033 points on EUR/USD, about 0.3%, and the Conto Fineco Trading has no Multicurrency, so every foreign trade is converted
- Fineco One and the Conto Fineco Trading come with e-mail support only for most clients; phone support needs Classic (EUR 3.95 a month unless EUR 50,000 of assets) or Max
- Replay ETF plans cost EUR 2.95 per instalment for one ETF outside the promotion, which is steep for small monthly amounts
- No real crypto coins, and we found no fractional shares or demo account; by Fineco's own disclosure, 65.44% of retail CFD accounts lose money
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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