The Italian Forex market has experienced a resurgence with the emergence of a new wave of domestic Forex traders. This market is closely regulated by CONSOB, known for being one of the strictest and most proactive regulatory authorities.
Despite the reputation of the Italian Forex market as a challenging environment for brokers, we have curated a list of brokers that comply with CONSOB’s regulations. This compilation aims to assist you in finding the ideal online broker in Italy that meets your specific trading needs.
In 1974, CONSOB was founded with the responsibility of overseeing investment services, granting authorisation for regulated market operations, and supervising the activities of market management companies.
Take a look at our shortlist and select the best Forex broker for your trading endeavours.
Top 11 Forex Brokers In Italy
These are the best forex brokers in Italy that provide amazing services to traders with appropriate compliance and regulation.
Brokereo:
The brokereo platform was started in 2020 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The platform offers 300+ CFDs instruments on various assets like forex, cryptocurrency, metals, stocks, commodities, and indices.
Brokereo is the brand name of Concorde Investments Ltd. The broker uses the MetaTrader 4 platform for trading. Brokereo offers three types of trading accounting silver, gold, and platinum, and each account has unique features and services for the traders. The minimum deposit for the trading is $250.
IGM FX:
IGMFX is a great broker in the market, and it is authorised and regulated by the Cyprus Securities and Exchange Commission (CSEC). The broker offers 170+ CFDs instruments on various assets like forex, commodity, stocks, metals, indices, and cryptocurrency.
The data of all the trader’s translations are completely secure by the broker. The broker provides educational resources to the traders for a better trading experience with the help of ebooks, VOD, tutorials, courses, and articles. The broker offers three types of trading accounts for trading such as silver, gold and platinum.
Tradedwell
The TradedWell platform was started in 2020, and it is a brand name of ITrade Global. TradedWell is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers 170+ CFD instruments on various assets like forex, cryptocurrency, metals, commodities, and indices.
The platform doesn’t charge any commission from the traders. The maximum leverage is offered up to 1:500 to professional clients. The broker provides educational material like articles, VOD, courses, tutorials, and ebooks to the traders of the platform. The technology which is using by the broker is the latest as well as upgraded in the market.
ROinvesting
ROinvesting was founded in 2015, and it is authorised and regulated by the Cyprus Securities and Exchange Commission (CYSEC). It is the brand name of Royal Forex Ltd. The platforms offer 350+ CFS instruments to the trader on various assets like forex, cryptocurrency, metals, indices, stocks, and commodities.
The platform also provides educational resources for a better experience trading with the help of articles, courses, VOD, tutorials, and ebooks. The broker offers three types of trading accounts for trading.
BDSwiss
The BDSwiss is the oldest broker in the market, founded in 2012. It is a brand name of BDSwiss Holding Ltd. BD Swiss is authorised and regulated by the Cyrus Securities and Exchange Commission (CySEC), Mauritius Financial Services Authority (FCA), and last Seychelles Financial Services Authority (FSA).
The broker offers 250+ CFDs instruments on various assets like forex, commodity, indices, and shares through the MetaTrader 4 platform. The broker provides three types of accounts for trading: classic, VIP, and raw, which has different amazing features for the account holders.
IC Markets
IC Markets is based on an Australian broker, and it was founded in 2007. IC Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the last Seychelles Financial Services Authority (FSA).
The platform offers three types of trading accounts for trading such as cTrader, Raw Spread, and Standard account. The broker provides commission-free trading for all the traders of the platform.
eToro
eToro is a trading platform that offers CopyTrader and CopyPortfolios, allowing users to replicate successful traders’ strategies and access managed thematic investment portfolios.
eToro also offers valuable educational resources through eToro Academy, eToro Plus, and The Bull Club.
For the Italian market, eToro is expanding its services to include eToro Money, which offers a debit card, and this development is set to be provided by eToro Malta, establishing eToro as one of the top Forex brokers in Italy.
Peppestone
Pepperstone, established in 2010, is renowned for its excellent research capabilities and multiple platforms designed for copy trading.
The broker prioritises the security of its clients’ funds by segregating them from its own. Withdrawals typically take 1-3 business days and offer various options for the client’s convenience.
A minimum deposit of $200 is required to start trading with Pepperstone. It is an attractive option for traders seeking low-cost offerings, various account types, and reliable customer support.
Pepperstone’s entry into the Italian market came after obtaining its license from CONSOB, indicating its compliance with local regulations.
The platform offers two types of accounts: standard accounts and razor accounts. The razor account is recommended for traders seeking lower fees.
Overall, Pepperstone provides a robust trading experience for both beginners and experienced traders alike.
SwissQuote
Swissquote has emerged as a major and highly respected name in the online trading and investing sector since 1996, evident from its impressive statistics.
Swissquote holds multiple top-tier licenses from trusted financial regulators, which adds to its credibility, and it has been listed on the SIX Swiss Exchange since 2000.
The Advanced Trader platform stands out with its user-friendly interface and a wide array of supporting tools, making it suitable for implementing various trading strategies.
Swissquote’s access to deep liquidity ensures swift and precise execution of orders, contributing to an efficient trading experience.
XM Group
XM Group is a well-established CFD and Forex broker known globally for its significant presence in Italy. The company holds regulatory licenses from ASIC in Australia, CySEC in Cyprus, and IFSC in Belize, one of the most dependable and secure brokers in the industry.
XM offers attractive features such as low withdrawal and stock CFD fees, a low minimum deposit requirement of $5, and generous leverage of up to 1:20. This combination of benefits makes it an appealing choice for traders.
With an extensive range of over 1,000 trading instruments, including commodities, metals, stocks, and CFDs, XM provides highly competitive spreads, with rates as low as 0.0 pips, which contributes to its appeal among traders seeking favourable trading conditions.
AvaTrade
AvaTrade is a reputable online forex and CFD broker established in 2006. It holds authorisation and regulation from regulatory bodies across all six continents it operates in, including CBI, BVI FSC, ASIC, FSCA, FSA, and ADGM, ensuring its compliance with international standards.
AvaTrade provides excellent customer support and offers competitive fees and spreads. The broker offers a diverse range of financial instruments, going beyond forex and CFDs to include ETFs and FX options, making it suitable for those looking to diversify their investment across various assets.
AvaTrade offers various account types, including Retail, Professional, Spread betting, and Options accounts, each catering to different trading needs.
Conclusion
In this article, we discussed the best forex brokers in Italy and the features and services of the broker towards traders. All the brokers have unique features and services for the traders. These forex brokers are reliable and secure as most of them are regulated by higher regulatory bodies, which ensures the safety of traders funds.
FAQs
Is forex trading permitted in Italy?
Yes, forex trading is legal in Italy, and it is subject to regulation by the Italian regulatory authority CONSOB as well as the EU regulator ESMA.
Which countries have the most successful forex traders?
The United States, Japan, the United Kingdom, Australia, and Switzerland are among the countries with a high number of successful forex traders. These nations boast well-regulated forex markets, robust economies, and stable political environments, making them appealing hubs for forex trading activities.
Do Interactive Brokers operate in Italy?
Yes, Interactive Brokers are operated and considered one of Italy’s best international online brokers in 2023. The platform offers low trading fees and provides high-interest rates, with cash balances earning up to 4.58% for USD.
What makes Italy favourable for trade?
Italy boasts a rich trading tradition. Its geographical location, jutting out into the Mediterranean Sea, provides strategic significance, offering excellent trade opportunities not only with Eastern Europe but also with North Africa and the Middle East. This advantageous position enhances Italy’s potential as a thriving trading hub.
Are Indians allowed to use Interactive Brokers?
Indian residents are permitted to trade all available products on domestic Indian markets, which includes futures and options. However, on non-Indian markets, Indian residents are not allowed to trade futures, options, or margin-based products.
They are only allowed to trade stocks, bonds, and ETFs on these non-Indian markets.
What are the primary sources of income for Italians?
Italians generate income through various avenues, with one significant source being their prowess as manufacturers and exporters. Italy is known for producing and exporting a wide array of products, ranging from machinery, vehicles, pharmaceuticals, furniture, and food, to clothing. This strong manufacturing and export sector led Italy to achieve a substantial trade surplus, contributing significantly to the country’s overall economic prosperity.
Which broker has the highest number of users in India?
Zerodha is the number one stockbroker in India, surpassing ICICI Direct.
