Best Forex Brokers in Italy 2019
FXCM
AMF, ASIC, BaFin, CONSOB, FCA, FSB
N/A
Your capital is at risk
AvaTrade
ASIC, BVI, FSA(JP), FSB
N/A
Your capital is at risk
eToro
ASIC, CySEC, FCA
N/A
76% of retail investor accounts lose money
FBS
CySEC, IFSC
N/A
Your capital is at risk
Markets.com
CySEC, FSB
N/A
CFDs carry risk. 73% of traders lose
XTB
BaFin, CNMV in Spain, CySEC, FCA, IFSC
Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom
Your capital is at risk
Italian Forex Brokers Comparison Table
Broker | Rating | Regulations | Headquarters Country | Foundation Year | Min Deposit | Max Leverage | Trading Platforms | Publicly Traded | Restricted Countries | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Cryptocurrency | ETFs | Bonds | Futures | Options | Mutual funds | Deposit | Withdrawal | Commission on trades | Fixed spreads | OS Compatibility | Mobile trading | promotions | Visit Broker |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMF, ASIC, BaFin, CONSOB, FCA, FSB | United Kingdom | 1999 | $50 | 1:30 | MT4 | No | Russian Federation, United States | No dealing desk | Yes | Yes | Yes | No | No | No | No | No | No | No | Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer | Neteller, PayPal, Skrill, Wire Transfer | No | No | N/A | N/A | No | Open Account Your capital is at risk | ||
ASIC, BVI, FSA(JP), FSB | Ireland | 2006 | $100 | 1:400 | ActTrader, MT4 | No | United States | Market Maker | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer | Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer | No | Yes | N/A | N/A | No | Open Account Your capital is at risk | ||
ASIC, CySEC, FCA | Cyprus | 2007 | $200 | 1:30 | cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, ZuluTrade | No | Canada, Indonesia, Iran, Isle of Man, Israel, Jamaica, Japan, Niger, North Korea, Sweden, Syria, Trinidad and Tobago, Turkey, United States | Market Maker, No dealing desk, STP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer | Yes | No | N/A | N/A | No | Open Account 76% of retail investor accounts lose money | ||
CySEC, IFSC | Russian Federation | 2009 | $1 | 1:3000 | MT4, MT5 | No | Russian Federation, United States | ECN, No dealing desk, STP | Yes | No | No | No | Yes | No | No | No | No | No | Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer | Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer | No | Yes | N/A | N/A | No | Open Account Your capital is at risk | ||
CySEC, FSB | Cyprus | 2008 | $100 | 1:300 | MT5 | No | Belgium, Japan, Russian Federation, United States | Dealing Desk, Market Maker | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Wire Transfer | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Wire Transfer | No | No | N/A | N/A | No | Open Account CFDs carry risk. 73% of traders lose | ||
BaFin, CNMV in Spain, CySEC, FCA, IFSC | United Kingdom | 2002 | $250 | 1:200 | MT4 | No | United States | STP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | Credit Card, Neteller, PayPal, Skrill, Wire Transfer | Wire Transfer | Yes | Yes | Desktop platform (Windows), Desktop platform (Mac), Web platform | Android, iOS | Yes | Open Account Your capital is at risk |
Unlike forex trading in the UK or other major economies in the EU, there is very little interest in online forex trading in Italy. This is largely due to the fact that the Italian financial regulatory Commissione Nazionale per le Societa e la Borsa (CONSOB) has maintained a hard stance against investments which are considered high risks investments. As such, Italian forex traders have very few choices when it comes to finding an Italian forex broker. In fact, most of the forex brokers that are currently serving Italian forex traders are forex brokers that are based in other EU member states such as Cyprus or the UK. Nevertheless, there are still a few home-grown Italian forex brokers that are trying to establish their presence in this ultra competitive industry.
In Italy, the main financial regulatory agency that that is tasked with regulating the financial services industry is CONSOB or the “Italian National Commission for Companies and the Stock Exchange” as it is known in English. Established in 1974, CONSOB main responsibilities include the following:
- Verify the information provided to the market by financial services providers or companies soliciting investments from the public.
- Authorize the centralized management of financial instruments, regulated markets and the publication of prospectuses.
- Monitor the operations of financial services providers in the industry to ensure transparent and orderly conduct.
- Regulate the operations of financial services providers in the industry.
- Penalizes any unfair conduct by financial services providers in the industry
Trading Platforms & Software
Forex brokers in Italy can generally be classified into 2 categories, homegrown and offshore based. For most local Italian forex brokers, they usually operate on proprietary trading platforms as opposed to generic trading platforms used by most forex brokers that are headquarters in other EU states. This is because these homegrown brokers have tailored their services to cater for the specific needs of Italian forex traders. For “passporting” forex brokers, their trading platforms tend to be white labeled generic platforms such as the popular MetaTrader 4 platform or the Sirix WebTrader as they have to cater to a larger audience around the world.
Commissions & Spreads
Italian forex brokers like most brokers in the industry only charge their clients a small spread on the trades that they make which can range from 0.1 pips to 2 pips for the majors. Commissions are only applicable when traders are trading from Italian forex brokers that offer ECN trading facility.
Account Types & Deposit Methods
Catering to retail traders, most forex brokers in Italy do offer their traders a choice of several types of trading accounts. These trading accounts can be:
- Micro/Mini accounts that let traders trade in lots smaller than a standard lot
- a standard trading account for the majority of traders.
- a VIP trading account for institutional traders or those trading large daily volumes
Funding of these trading accounts is usually done through credit cards, eWallets or Bank wire transfer.
Customer Service
With most brokers lacking a physical presence in the markets that they operate in, their only point of contact is the Customer support service. As a broker that is serving the Italian forex trading industry, it is essential that the broker is also able to provide support in Italian as well. In addition, it is a plus point for the broker if its website is also translated in Italian. It’s ideal if the broker, no matter where they are based has a localized Italian telephone number.
Additional Services
Often forex brokers try to differentiate their services from other brokers in the industry, as there are so many out there. To do this, they usually offer their clients additional value added services such as free trading signals and market analysis. In some cases, you will also find some brokers going to the extent of providing free VPS service to enhance the quality of their trading services, which speeds up trade execution times.
Conclusion
To find the best forex brokers in Italy often requires extensive research and knowledge about the brokers operating in the industry. In order to help our Italian readers make a more informed decision, we have thoroughly reviewed a variety of forex brokers and created a drilled down list that meet our strict criteria in terms of security, customer service, trading platforms and regulatory oversight. These recommended Italian forex brokers will be able to adequately serve the needs of forex traders based in Italy.