The word is commonly pronounced in English as /fiænˈtʃɛtoʊ/ (soft "ch" as in "cherry") but the original word is pronounced in Italian as /fjaŋˈketto/ (hard "ch" as in "chaos").
It is common for terms borrowed from other languages to take on 'erroneous' pronunciations if the orthography is ambiguous (or completely different) in the loanee language, e.g.
- pistachio (Italian: /k/; English /tʃ/)
- bruschetta (Italian: /sk/; English: /ʃ/)