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5 Best Forex Brokers in Italy for 2024

Looking for the top broker in Italy? Based on our hands-on analysis, we’ve identified 5 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Plamen Stoyanov
Reviewed By:
Ola Alder
Updated: Apr 8, 2024

List of the Best Forex Brokers in Italy

Ultra-fast order execution. Below-average trading costs. Proprietary ActivTrader platform, MT4, MT5. 1,100 tradable instruments.

Multiple licenses by top-tier regulators. Proprietary AvaTrade, AvaTradeGO, and AvaSocial platforms. MT4 and MT5. Reliable customer support. Wide range of research and educational materials.

A wide choice of trading accounts. Below-average trading fees. Comprehensive in-house research materials. Research content from TradingCentral.

Top-tier regulations. Listed on the SIX Swiss Exchange. Advanced Trader platform, MT4, MT5. Trading Central, Autochartist. 3+ million trading and investing instruments.

Well-regulated broker. MT4, MT5, cTrader, iRESS platforms. Free VPS for algo trading. 800+ tradable instruments. Competitive fees.

Regulatory Landscape in Italy

Trading forex and CFD in Italy is legal and regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB). Operating under the framework of European financial legislation, particularly the Markets in Financial Instruments Directive (MiFID), CONSOB ensures that brokers meet stringent guidelines focused on transparency, investor protection, and market integrity.

To legally operate in Italy, forex or CFD brokers must obtain a license from CONSOB or another European Economic Area (EEA) authority. Italian regulations enforce leverage limits of 1:30 for forex and 1:20 for other assets, along with requirements like segregated client funds and negative balance protection. These rules aim to ensure a secure, transparent trading environment.

How Did FX Empire Select the Best Forex Brokers in Italy?

FXEmpire's Methodology

  • EU regulations. We only selected brokers regulated by CONSOB or other authorities from the EU that adhere to ESMA’s safety requirements.
  • Availability in Italy. We only chose brokers that accept clients from Italy.
  • EUR as a base currency. Each of our picks affords retail accounts with EUR as a base currency.
  • Services in Italian. We were looking for brokers with localized websites, customer support, and platforms available in the Italian language.
  • Trustworthy broker. We checked each broker’s legal documents and evaluated their reliability.
  • Choice of trading instruments. We picked brokers that offer a wide selection of tradable instruments from different asset classes.
  • Low trading fees. We looked for brokers that offer low floating spreads and round-turn commissions per traded volume.
  • User-friendly and feature-rich platforms. We picked brokers with a diverse offering of trading platforms and a wide range of analytical and supporting tools.
  • Diverse accounts. We only considered brokers with a good choice of account types that can serve traders with different preferences, experiences, and trading strategies.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s dive into the selected brokers.

Best Overall

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $0
  • Tradable Instruments
    1253
  • Fees
    Medium

Founded in 2001 and headquartered in the United Kingdom, ActivTrades is a veteran CFDs and forex broker. It offers over 1,100 lower-risk and higher-yield/risk instruments from different asset classes, allowing for the implementation of multiple trading strategies.

Regional Features:

  • Entity for Italian Traders: ActivTrades Europe SA, regulated by CSSF (Luxembourg), registered with CONSOB
  • Italian Instruments: 52 share CFDs
  • Customer Support and Platforms in Italian: Yes
  • Trading Platforms: MetaTrader 4&5, TradingView, ActivTrader
  • Cost of Full-Sized EURUSD Trade: $9
  • Localized Website: Yes

I conducted a comprehensive review of ActivTrades and determined that the broker has one of the most well-rounded offerings both in Italy and globally. I was most impressed by its average execution speed of 4 milliseconds, which ranks ActivTrades among the top 5 brokers in the world. It also has below-average trading costs and a very versatile trading platform. The broker also affords Italian traders a wide range of share CFDs of local companies.

I opened an Individual ActivTrades account with the broker, which affords commission-free trading and floating spreads starting from 0.5 pips, which is quite low. I recorded an average EURUSD spread of 0.9 pips, which is how I calculated that trading one full-sized position would cost around $9.

ActivTrades has developed a user-friendly platform with more than 200 analytical tools and chart configurations. Some of the platform’s standout features that I found quite useful include a progressive trailing stop order and the availability of pullback entries. Both allow more sophisticated trade execution.

Pros
  • Tight regulation
  • Progressive in-house platform
  • Wide range of instruments
  • Competitive prices
  • Ultra-fast order execution
Cons
  • Only one account type

Best for Beginners

Trading CFDs and FX Options entail risk and could result in the loss of your capital.
  • Min Deposit
    $100
  • Tradable Instruments
    853
  • Fees
    Medium

AvaTrade is a Forex & CFDs broker that was established in 2006 and is headquartered in Ireland. It offers access to over 1250 tradable instruments from the biggest asset classes in the industry. The broker also has multiple European-style options, giving traders extra flexibility on the market.

Regional Features:

  • Entity for Italian Traders: DT Direct Investment Hub Ltd., regulated by CySEC (Cyprus)
  • Italian Instruments: 1 Index
  • Customer Support and Platforms in Italian: Yes
  • Trading Platforms: MetaTrader 4&5, WebTrader, Ava Options, AvaSocial, DupliTrade
  • Cost of Full-Sized EURUSD Trade: $9
  • Localized Website: Yes

I determined AvaTrade is the best choice for beginners because it has accessible trading accounts, a low minimum deposit of $100, reliable customer support, and a rich collection of research and educational materials. The broker also affords commission-free trading. AvaTrade’s market analyses and trading ideas, provided by Trading Central, are also very high-quality.

The broker incorporates MetaTrader 4 and 5. It also has developed a proprietary platform for trading CFDs WebTrader as well as for options trading Ava Options. The broker also provides access to DupliTrade and AvaSocial for algorithmic and social trading. With $0 volume-based commissions and floating spreads from 0.8 pips, I assessed AvaTrade’s trading fees to be lower than the industry average.

Pros
  • Platforms with easy learning curve
  • Low minimum deposit
  • Insightful research and education materials
  • Top-tier regulation in multiple jurisdictions
Cons
  • Unintuitive website

Best Research Content

Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
  • Min Deposit
    $0
  • Tradable Instruments
    321
  • Fees
    Medium

IronFX is a multi-regulated forex and CFD broker founded in 2010 and headquartered in Cyprus. It offers over 500 tradable instruments from all major asset classes. IronFX provides excellent research materials developed in-house, and it also incorporates content from the seamless TradingCentral.

Regional Features:

  • Entity for Italian Traders: Notesco Financial Services Limited, regulated by CySEC (Cyprus)
  • Italian Instruments: 20 FX Pairs, 2 Metals, 1 Index, 2 Futures
  • Customer Support and Platforms in Italian: Yes
  • Trading Platforms: MetaTrader 4
  • Cost of Full-Sized EURUSD Trade: $9
  • Localized Website: No

I was impressed by IronFX’s rich and diverse assortment of research content which includes plenty of market breakdowns, trading ideas, technical and fundamental analyses, and more. This diversity provides traders with a nuanced perspective on currently developing market trends and the opportunity to examine viable trading opportunities from multiple angles.

The broker incorporates the MetaTrader 4 platform which features about 50 analytical tools, such as technical indicators and drawing tools, and accommodates the execution of basic technical analysis. MT4 also supports automated trading via its Expert Advisors (EAs) feature.

I opened IronFX’s No Commission trading account with $0 commissions and floating spreads from 0.9 pips. I executed a full-sized EURUSD position and recorded a net cost of $9, which falls below the industry average of $10.

Pros
  • ECN and STP accounts
  • Excellent in-house research materials
  • Access to content from TradingCentral
  • Low trading fees
Cons
  • Lack of alternative trading platforms

Best Trading Platform

Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
  • Min Deposit
    $1000
  • Tradable Instruments
    506
  • Fees
    Medium

A Swiss-based bank Swissquote holds multiple top-tier licenses from some of the most trusted financial regulators. Founded in 1996, the broker offers access to the remarkable over 3 million trading and investing instruments. Swissquote has also been listed on the SIX Swiss Exchange since 2000, which is yet another indication of its overall safety.

Regional Features:

  • Entity for Italian Traders: Swissquote Bank Europe Ltd, regulated by CSSF (Luxembourg)
  • Italian Instruments: None
  • Customer Support Platforms in Italian: Yes
  • Trading Platforms: MetaTrader 4&5, Advanced Trader
  • Cost of Full-Sized EURUSD Trade: $20
  • Localized Website: Yes

As a high-frequency trader, I have always looked for highly customizable platforms that afford me the extra flexibility to manipulate price action and examine every small detail. And I found it in Swissquote’s proprietary platform Advanced Trader. In addition to its customizability, the platform is also beginner-friendly. One of its standout features is the rich database of information about implementing all the tradable instruments available on the platform.

Swissquote also incorporates the MetaTrader 4&5, including MetaTrader’s Master Edition plugin which affords enhanced charting capabilities. The broker also offers trading signals and market analyses from Autochartist and Trading Central – two of the most renowned signal providers in the industry.

I also tested Swissquote’s fees and found them to exceed the industry average. The broker affords commission-free trading and floating spreads starting from 1.7 pips. This puts the cost of a full-sized EURUSD trade at around $17, which exceeds the $10 industry average.

Pros
  • Very versatile platform
  • Listed on SIX Swiss exchange
  • Multiple top-tier licenses
  • Extremely wide choice of instruments
Cons
  • No Italian instruments

Best for Professional Traders

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

FP Markets is a well-balanced broker with diverse offerings and accessible trading accounts. The broker was established in 2005 and is headquartered in Australia. I chose FP Markets as the most suitable for professionals because of its professional-grade trading tools and extensive offering of instruments from different markets.

Regional Features:

  • Entity for Italian Traders: First Prudential Markets Ltd, regulated by CySEC (Cyprus)
  • Italian Instruments: Unspecified amount of share CFDs, ETFs, 1 index
  • Customer Support and Platforms in Italian: Yes
  • Trading Platforms: MetaTrader 4&5
  • Cost of Full-Sized EURUSD Trade: $10
  • Localized Website: Yes

In addition to its already low-latency trading capacity, I discovered that FP Markets provides free VPS hosting to those who trade over 10 lots per month on a Standard account and 20 lots on a Raw account. The broker also incorporates a Traders Toolbox for MetaTrader, granting traders access to advanced charting tools.

I opened a Standard account with FP Markets, which affords commission-free trading and floating spreads starting from 1.0 pips. The account type has an incredibly low minimum deposit requirement of just $50. It also supports VPS hosting, though swap-free trading via Islamic Accounts is unavailable.

In addition to MetaTrader 4, FP Markets also incorporates its successor (MetaTrader 5) and the seamless IRESS platform. The latter is only available with the broker’s offshore entity and is specifically designed for stock trading as it includes over 10,000 share CFDs of companies from some of the biggest exchanges in the world. The IRESS also affords professional-grade charting tools and order types.

Pros
  • Rigid regulation
  • Fast order execution
  • VPS hosting
  • Advanced trading tools
Cons
  • No proprietary platform

Our Methodology

Here at FX Empire, we have pioneered a unique methodology for evaluating forex and CFD brokers worldwide. Our goal is to provide a comprehensive picture of a broker’s pros and cons so that our readers can make informed decisions. We understand their need to choose the best partner for their particular goals and needs.

Our team of dedicated professionals is working continuously to improve our system and keep it up-to-date with current market trends. We test each broker systematically by employing over 250 variables across nine categories:

  • Trust
  • Fees
  • Account Types
  • Tradable Instruments
  • Platforms and Tools
  • Deposits and Withdrawals
  • Customer Support
  • Research
  • Education

We strive to be as objective as possible, which is why our rigorous examinations are devoid of any personal bias as much as possible. We review the licenses of all the subsidiaries of a broker and check the fine print in the Client Agreement. The reliability of a broker is further determined based on the website’s regulations, fees, and general transparency.

We collect essential information by opening a live account with a broker entity and testing its services in real time. We measure the spreads, swaps, and commissions on its most popular account type and compare our findings to the industry average. We also test the functionality of the available platforms, the number and types of tradable instruments, the reliability of customer support, and the quality of the research and educational materials.

For this guide, we only considered CONSOB and EU-regulated brokers that are authorized to provide trading services to clients from Italy. We assessed each broker’s adherence to safety regulations and its maximum leverage. We measured spreads and commissions, comparing them to the industry average, and selected the brokers with the most competitive pricing.

We checked whether brokers have localized websites for Italian traders, whether their platforms and customer support are available in Italian, and whether trading accounts can be opened with EUR as a base currency.

Also, we evaluated the usability of brokers’ platforms and confirmed whether they are integrated for implementing longer-term strategies, such as swing and day trading, or shorter-term, like intraday trading and scalping.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

Meet Our Writers

The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

How to Choose a Forex Broker in Italy?

Now, it’s time to go over the specific considerations traders in Italy must make when choosing a forex broker:

How to find a safe broker?

In order to make sure you are dealing with a trustworthy partner, you need to check whether the broker entity you choose is tightly regulated and complies with all industry safety requirements.

Brokers operating in Italy must adhere to MiFID II requirements as Italy is an EU member state. MiFID II (Markets in Financial Instruments Directive II) is a European Union regulation that aims to increase transparency and investor protection in financial markets. Adhering to MiFID II guidelines standardizes broker practices across Europe, thereby boosting trader confidence. Additionally, it makes it easier for brokers to offer their services in multiple EU nations.

Read more about Best MiFID regulated brokers.

Below, I have broken down the most important safety mechanisms under MiFID II, which is important for traders in Europe.

  • Segregation of client funds. Brokers must keep their clients’ funds in separate bank accounts from the ones used for their corporate capital. This is crucial for mitigating the risk of accounting errors.
  • Negative balance protection. Negative balance protection means that trader’s losses cannot exceed their account balance. This protection is indispensable when trading high-risk instruments, such as CFDs.
  • Limited market exposure. Beginners are especially susceptible to the risk of adverse price fluctuations, which is why the maximum leverage for retail traders is set at 1:30. Anything beyond that can be too risky for inexperienced traders.
  • Compensation scheme. Financial regulatory bodies operating under ESMA mandate (from brokers) participation in the Investor Compensation Fund (ICF). In the unlikely event of the company becoming insolvent, traders can be compensated by up to 20,000 EUR.

Check out our guide on Best European regulated brokers.

How to verify if a broker is regulated?

  • Check the Broker’s Website: Legitimate, regulated brokers typically display their license number and the name of their regulator on their website, often in the footer or “About Us” section.
  • Visit the Regulator’s Website: Every country’s financial regulator has a website where they list all the brokers they regulate. Search for the broker’s name to see if they’re listed.
  • Contact the Regulator: If you can’t find the information you’re looking for, you can contact the regulator with the broker’s name and any other identifying information you have.
  • Check for Memberships: Regulated brokers often belong to compensation schemes or organizations that protect clients’ funds. Check if the broker mentions such memberships on their website.

Read more about Best regulated forex brokers.

How to check if a broker’s fees are competitive?

A broker may have several account types, each with different pricing mechanisms. The question is, how to know which one is best fitted for your particular style of trading? I will try to answer this question by providing an example with two distinct accounts, one STP and the other ECN:

The biggest difference between STP and ECN accounts, apart from the execution model, is the pricing mechanism. Usually, STP accounts afford commission-free trading and floating spreads, whereas ECN accounts have fixed commissions and raw spreads (typically starting from 0.1 pips). At first glance, the former sounds more favorable because you only have to pay one cost – the spread – rather than two.

Read more about Best STP forex brokers and Best ECN forex brokers.

Many brokers recognize the psychological significance of this sort of thinking and seek to exploit it by raising the spreads on their STP accounts to the point where they are no longer the more competitive option. I will now demonstrate how to do a quick test for yourself to evaluate the competitiveness of a broker’s ECN and STP accounts.

Pick an instrument, say, the EURUSD. Suppose also that the spread on the pair is 0.9 pips on a broker’s STP account and 0.1 pips on its ECN account. There is also a $6 commission for trading a 1 lot (100,000 units) contract. If the EURUSD pip value is $10, you can do a simple calculation to determine the value of a hypothetical position on the EURUSD executed on both account types. The formula is the value of a trade = spread x pip value + commission.

This is just a hypothetical example, but hopefully, it illustrates how more can be less in trading. So, it’s worthwhile evaluating the costs of a broker you consider opening an account with for yourself before doing so. And if you are still uncertain, you can always check out our database of reviews to sort out the most competitive brokers.

Check out our list of best lowest spread forex brokers.

Why does liquidity matter?

The deeper the liquidity pool that a broker has access to, the better the order execution conditions it can serve its clients. That is why high-frequency traders should always check the speed and quality of order execution. The easiest way to do that is to see whether the broker has a ‘best execution policy.’ It means that the company is committed to providing the best price quotes, given the underlying market conditions, when an order is placed.

Precision and speed of order execution are also likely to be enhanced when a broker provides Virtual Private Server (VPS) hosting. As a rule of thumb, look for brokers that can accommodate ultra-fast order execution speeds of no more than 50 milliseconds.

Check out our guide on Best forex brokers with VPS hosting.

You can confirm a broker’s performance by going to the Legal Documents section of its website and opening its latest execution statement/review. Keep in mind that not all brokers are mandated by their regulators to post such reviews yearly. However, the ones that do are more likely to afford you precise order execution and diminished risk of negative slippage.

How to choose a trading platform?

A trading platform is your window into the market. It allows you to observe price action behavior and study potential opportunities for placing orders. Technical traders use a platform’s array of indicators, drawing tools, and other features to examine various price patterns, changes in volatility, liquidity, and so on in order to gauge the most favorable times to enter or exit the market.

The best platforms are also the most versatile ones. They include a wide spectrum of technical indicators, such as Fibonacci retracement levels, oscillators, trend-based and range-based indicators, and others, as well as drawing tools, such as trend lines, channels, wedges, etc. They are also the ones that allow you to easily scale price action up and down.

In addition to these components, when looking for a suitable platform, you must also look for efficiency. Ask yourself: Does the platform facilitate easy and rapid order placement through one-click trading? Does it support algorithmic trading via Expert Advisors (EAs)? Can it handle market, limit, and stop orders? These factors, and more, contribute to a platform’s overall effectiveness.

The two most popular retail platforms in the industry are MetaTrader 4&5. Over the years, the two have become the benchmark for simplicity and reliability. The two entries in the popular franchise have a decent range of technical indicators and drawing tools and afford multi-timeframe analysis.

However, despite MetaTrader’s easy learning curve, its rugged design becomes apparent when contrasted against newer and sleeker platforms. In my estimation, MetaTrader is a good choice for newbies wanting to learn the ropes, but to take your trading to the next level, you may need something more sophisticated.

Read more about best MT4 brokers and best MT5 brokers.

The answer of some brokers is to develop their proprietary platforms. The advantage of most such platforms is their convenience. The ability to search for instruments by asset class, scale price action up and down with ease, or execute complex box orders are benefits you cannot find in MetaTrader. To summarise, the question of choosing the best platform for you is one of simplicity vs. practicality.

Check out our dedicated guide on Best forex trading platforms.

What to avoid when choosing a broker in Italy?

Here is a quick rundown of what traders must avoid:

  • Unregulated brokers. Trading with an unregulated broker exposes you to a higher risk of fraud or unethical business practices, as they are not bound by any regulatory standards or rules. Additionally, in case of any disputes or if the broker goes bankrupt, there might be no legal recourse or compensation schemes available to recover your funds.
  • Lack of client protection. Avoid brokers that cannot ensure more than two of the following: segregated funds, negative balance protection, compensation scheme, and maximum leverage for retail traders no bigger than 1:100
  • Low execution quality. Try to avoid brokers that cannot ensure more than two of the following: best execution policy, regular quality execution statements, and average execution speed under 100 milliseconds.
  • High spreads and commissions. Sidestep brokers with floating spreads from 1.8 pips or above on STP accounts and with round-turn commissions above $7 on ECN accounts.

How to Avoid Forex and CFD Scams?

Scammers rely on the gullibility of traders. A common tactic fraudsters employ is to promise quick and easy profits at no risk to the trader. Often scammers would use labels that closely resemble the brands of real and legitimate companies. That is why regulators like the FCA have registers where traders can read about such fraudulent companies pretending to be others.

The best and easiest way to protect yourself is to make sure you work with a trustworthy and transparent broker. You can find a comprehensive list of reliable brokers by jurisdiction here.

Another important consideration is online safety. Be cautious about where you leave your personal information. Registering your details on suspicious pop-ups that promise enormous profits could lead to your contact information landing on a scammer’s dialing list. Remember, no licensed broker would make unsolicited cold calls.

The next time you get contacted out of the blue with promises of becoming the next Warren Buffet, you must remember that you are most likely speaking to a scammer. In my opinion, nowhere is the “if something sounds too good to be true…” saying more accurate than in the world of trading. That is why you should do your due diligence before opening an account with any broker.

FAQ

Yes, forex trading is allowed in Italy and is regulated primarily by the Commissione Nazionale per le Società e la Borsa (CONSOB). Brokers operating in Italy are generally required to adhere to European financial regulations, including MiFID II, to ensure transparency and protect investors.
CONSOB, which stands for Commissione Nazionale per le Società e la Borsa, is the government authority responsible for regulating the Italian securities market. Established to protect investors and ensure market integrity, CONSOB oversees various financial activities, including the operation of forex and CFD brokers in Italy. It works under the broader framework of European financial laws, such as MiFID II, to standardize practices and foster trust among market participants.
To verify if a forex broker is regulated in Italy, consult the official CONSOB website where they list licensed brokers. You can also check the broker's own website for a CONSOB license number and cross-reference this with the official list. For added assurance, you may contact CONSOB directly to inquire about the broker's regulatory status.
The European Securities and Markets Authority (ESMA) is a European Union agency responsible for overseeing and regulating financial markets across EU member states, including Italy. ESMA sets common regulatory standards, such as leverage limits and investor protection measures, which are implemented by national authorities like Italy's CONSOB. Thus, ESMA plays an indirect yet influential role in shaping the regulatory landscape of the Italian forex market.
MiFID II (Markets in Financial Instruments Directive II) is an EU regulation aimed at increasing market transparency and investor protection. In the Italian forex market, it sets the framework for licensing, governance, and operational standards that brokers must adhere to. The regulation is enforced by Italy's national regulator, CONSOB, ensuring that brokers comply with these high standards to operate legally within the country.
Yes, profits from forex trading are subject to capital gains tax in Italy. Please check with Italy’s National Revenue Agency for further information.
EU-regulated brokers are required under ESMA to ensure segregated client funds, negative balance protection, maximum retail leverage of 1:30, and participation in the Investors Compensation Fund (ICF). Offshore brokers do not participate in a compensation scheme, usually allow much higher leverage, and may not guarantee negative balance protection.
Yes, you can trade with a broker regulated outside Europe while residing in Italy but doing so comes with increased risks. These offshore brokers may not adhere to the same high standards of investor protection and transparency that EU-regulated brokers are mandated to follow. Therefore, it's essential to conduct thorough due diligence and be aware of the risks involved when opting for an offshore-regulated broker.
We determined that AvaTrade has the most well-balanced offering suitable for beginner traders thanks to accessible trading accounts, a low minimum deposit of $100, reliable customer support, and a rich collection of research and educational materials.
FP Markets has the most cost-effective offering catering to the needs of professional traders due to its professional-grade trading tools and extensive offering of tradable instruments.
Yes, cryptocurrency trading is available in Italy. However, it's worth noting that the regulatory environment for cryptocurrencies is less stringent than that for traditional financial markets like forex.
While you can technically engage in forex trading directly through the interbank market, this approach is largely impractical for retail traders. Brokers serve as a more accessible entry point, offering necessary tools like trading platforms and leverage. So, although it's theoretically possible to trade without a broker, it's not a viable option for most individual traders in Italy.

About the Author

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.