| Updated: January 15, 2025Forex trading has become a significant aspect of the Italian financial landscape, with a growing number of individuals and institutions participating in the global foreign exchange market. As a major player in the European economy, Italy offers a unique blend of financial expertise and cultural influences that can shape the way traders approach the market. With a wide range of online forex brokers available, Italian traders can choose from a variety of platforms, tools, and services to suit their needs. Whether you are a seasoned trader or just starting out, the Italian forex market offers a wealth of opportunities to learn, grow, and succeed in the fast-paced world of foreign exchange trading.
Below you can find a list with Forex brokers regulated in Italy:
Top 10 Forex Brokers in Italy
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Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
-
FP Markets
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex CFDs
- Shares CFDs
- Metals CFDs
- Commodities CFDs
- Indices CFDs
- Crypto CFDs
- ETF CFDs
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading Instruments- CFDs on: Forex
- Crypto
- Indices
- Commodities
- Stocks
- Options
- ETFs
-
Vantage FX
- Broker offering some of the lowest spreads from 0.0 pips
- Operating in multiple markets under licenses from tier-1 regulators
- Provides a range of account types with great trading conditions
Trading Instruments- Forex
- Indices
- Commodities
- Shares CFD
- ETFs
- Bonds
-
Axi
- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading Instruments- Forex
- Stocks
- IPOs
- Indices
- Commodities
- Cryptocurrencies
-
Pepperstone
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex
- Indices
- Commodities
- Cryptocurrencies
- Share CFDs
- ETFs
-
FXTM
- Established brokerage company regulated by UK FCA, Kenya CMA, and Mauritius FSC
- MT4, MT5, Mobile Trading Platform
- $1M Lloyd’s of London account insurance
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XM Group
- XM provides great trading experiences using MetaTrader 4 and MetaTrader 5, which are improved by personalized features.
- Zero commission accounts are available
- Top-tier regulation from CySEC, ASIC, FSC, and DFSA oversee XM's operations, assuring transparency and client safety.
Trading Instruments- Forex
- Stocks
- Indices
- Commodities
- Thematic Indices
-
Tickmill
- Classic and Raw accounts available to suit various trading needs and requirements.
- Popular trading platforms, such as MT4 and MT5.
- Regulated by reputable authorities: ASIC and CySEC.
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FxPro
- NDD broker offering deep liquidity and ultra-fast execution
- Over 99% instant order executions with no requotes
- Supports MT4, MT5, cTrader, and a proprietary platform
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Fusion Markets | 0.93 avg (Classic) | $0 Classic Account, $4.50 round turn on Zero Account |
| FP Markets | 1.1 | $0 Standard Account; $6 round turn on Pro Account |
| Plus500 | 1.2 | $0 |
| Vantage FX | 0.2 | $3 per side on Raw; $1.50 per side on Pro |
| Axi | 1.2 | $0 on Standard Account; $7 round trip on Pro Account |
| Pepperstone | 1.00 (min) | $0 (Standard Account), $7 round-turn (Razor Account) |
| FXTM | 0.1 | |
| XM Group | 0.8 | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account |
| Tickmill | 0.1 | $0 on Classic Account; $3 per side on Raw Account |
| FxPro | 0.25 | $0 on Standard Account; $3.5 per side on Raw+ and Elite Accounts |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| FP Markets | |
$50 (AU$100) |
| Plus500 |  |
$100 |
| Vantage FX | |
$50 |
| Axi | |
$0 |
| Pepperstone | |
$0 |
| FXTM | |
$200 |
| XM Group | |
$5 |
| Tickmill | |
$100 |
| FxPro | |
$100 |
Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:30 (1:500 for forex and metals via VFSC) |
| FP Markets | |
1:30 |
| Plus500 | |
1:30 |
| Vantage FX | |
1:30 |
| Axi | |
1:30 |
| Pepperstone | |
1:30 |
| FXTM | |
1:2000 |
| XM Group | |
1:30 |
| Tickmill | |
1:30 |
| FxPro | |
1:30 |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
80+ |
| FP Markets | |
70+ |
| Plus500 | |
60+ |
| Vantage FX | |
60+ |
| Axi | |
80 |
| Pepperstone | |
90+ |
| FXTM | |
|
| XM Group | |
50+ |
| Tickmill | |
62 |
| FxPro | |
70+ |
Comprehensive Comparison of the Best Italy Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
0.93 avg (Classic) |
|
|
 |
$50 (AU$100) |
|
1.1 |
|
|
 |
$100 |
|
1.2 | ||
 |
$50 |
|
0.2 |
|
|
 |
$0 |
|
1.2 |
|
|
 |
$0 |
|
1.00 (min) |
|
|
 |
$200 |
|
0.1 |
|
|
 |
$5 |
|
0.8 |
|
|
 |
$100 |
|
0.1 |
|
|
 |
$100 |
|
0.25 |
|
Legal Forms of Forex Trading in Italy
The trading market in Italy is a vibrant and dynamic sector, with a wide range of financial instruments and products available to traders. From traditional stocks and bonds to more exotic assets, Italian traders have access to a vast array of markets and opportunities that are permitted by local regulators.
One of the most popular areas of trading in Italy is the foreign exchange market, where traders can engage in spot trading of currencies or trade pairs via contracts for difference (CFDs). Forex spot trading allows traders to buy and sell currencies at the current market rate, while CFDs enable traders to speculate on the price movements of currencies without actually owning the underlying asset.
Beyond forex, Italian traders can also participate in other markets, including indices, shares, commodities, and cryptocurrencies. Trading indices such as the FTSE MIB or the Dow Jones can provide a way to gain exposure to the overall performance of the Italian or global economy. Commodities, such as oil, gold, or agricultural products, can offer a way to hedge against inflation or market volatility. Cryptocurrencies, such as Bitcoin or Ethereum, have become increasingly popular among Italian traders in recent years as well.
Restrictions on Currency Trading in Italy
In general, forex brokers catering to an Italian audience are allowed to offer their clients forex trading in the form of spot trading of CFDs. The latter is only permitted if the brokers implement leverage caps, however.
Italian forex traders interested in binary options are out of luck. A ban on binary options, which took effect in 2019, prohibits the marketing and sale of binary options to Italian consumers. It also required that brokers that continued offering binary options cease operations in Italy and withdraw their marketing materials from the Italian market. The ban was part of a broader effort by the Italian government to regulate the financial services sector and to protect consumers from financial scams.
Who Regulates Forex Trading in Italy?
The regulation of forex trading in Italy involves several supervisory bodies. At the heart of the regulatory framework is the Italian Securities and Exchange Commission, known as CONSOB (Commissione Nazionale per le Società e la Borsa). CONSOB is responsible for overseeing the Italian financial markets, including forex trading, and ensuring that brokers and other market participants comply with relevant laws and regulations.
Another key regulator in the Italian forex market is the Bank of Italy, which is responsible for supervising and regulating banks and other financial institutions. The Bank of Italy works closely with CONSOB to ensure that forex brokers and other market participants meet the necessary standards for safety and soundness.
The European Securities and Markets Authority (ESMA) also plays a significant role in regulating forex trading in Italy. ESMA sets and enforces rules for forex trading across the European Union, including Italy. ESMA works in partnership with CONSOB and other national regulators. It is Italy’s status as a European member state that ensures local forex brokers must adhere to the Markets in Financial Instruments Directive II (MiFID II).
Overall, a number of entities work together to ensure that Italian forex brokers and other market participants comply with relevant laws and regulations and that consumers are protected from financial scams and other forms of financial harm.
Requirements for Forex Brokers in Italy
To operate in the Italian forex market, brokers must meet a range of stringent requirements designed to ensure fair trading practices. This includes the implementation of robust AML procedures to prevent and detect money laundering, and measures may take the form of transaction monitoring and the reporting of suspicious activities. KYC requirements also apply, with brokers needing to verify the identity and suitability of customers, including their financial situation and trading experience. This ensures that brokers are aware of their customers’ risk tolerance and can avoid working with suspicious individuals. Compliance with AML and KYC regulations is mandatory.
Requirements centered around consumer protection are also crucial:
- Negative Balance Protection: This ensures that traders cannot lose more than their initial deposit. In other words, even if a trader’s account balance falls below zero due to market fluctuations, they will not be required to pay any additional funds to the broker.
- Leverage Caps: Italy-friendly forex brokers are required to restrict the amount of leverage they offer to retail traders. The goal is to prevent clients from trading with money they cannot afford to lose. The maximum leverage limit for retail traders in Italy is 1:30, although some brokers may impose lower leverage limits.
- Risk Disclaimers: An obligation to provide clear and transparent risk disclaimers is another requirement. This includes information about the potential for significant losses, especially when it comes to forex CFDs.
- Fund Segregation: Italian forex brokers are obligated to segregate client funds from their own operating capital, which helps to prevent the commingling of funds and ensures that client funds are protected in the event of a broker’s insolvency. This is typically achieved through the use of separate bank accounts.
Overall, the requirements for forex brokers in Italy aim to provide a high level of protection for consumers and ensure fair trading practices. By meeting these requirements, brokers can demonstrate their commitment to transparency and fairness.
How to Identify Reliable Forex Brokers Accepting Italian Clients
Identifying a reliable forex broker is crucial for Italian traders, and one of the most important factors to consider is the broker’s regulatory status. In Italy, the primary regulator is CONSOB (Commissione Nazionale per le Società e la Borsa). It is responsible for overseeing the country’s financial markets.
To confirm a broker’s legitimacy, look for a CONSOB license, which serves as proof of the Italian regulator’s approval. A licensed broker has demonstrated its ability to meet strict regulatory standards, including capital requirements, risk management, and customer protection. Additionally, consider brokers licensed by other European regulators, such as Germany’s BaFin (Federal Financial Supervisory Authority) or Cyprus’ CySEC (Cyprus Securities and Exchange Commission), which are recognized by CONSOB.
Most regulators, CONSOB included, have a register of all entities that are permitted to operate in their respective jurisdictions. CONSOB’s register of authorized brokers can be accessed online, and it provides information on the broker’s licensing status, including the date of issuance and any conditions or restrictions.
By verifying a broker’s license legitimacy, you can ensure that you are trading with a reputable and regulated broker. This provides a higher level of protection for your funds and ensures that you are treated fairly and that if things ever do go wrong, you will be able to turn to entities that will offer assistance. In addition to licensing, consider other factors, such as the broker’s reputation, trading conditions, and customer support (ideally available 24/7), to make an informed decision.
Are There Taxes on Profits from Forex Trading in Italy?
As an Italian trader, it’s essential to understand the tax implications of forex trading to ensure compliance with the law. In Italy, traders are required to report their gains and losses on their tax returns. The Italian tax authority, Agenzia delle Entrate, imposes a capital gains tax on forex trading profits. The tax rate depends on the trader’s tax bracket and the type of financial income earned. Another tax to keep in mind is the Italian Financial Transaction Tax (Tobin), which is tied to Italian derivatives and ranges from 0.10% to 0.20%.
In summary, forex trading in Italy is subject to a number of taxes, which can impact traders’ profits and overall trading experience. Traders are advised to contact an Italian tax professional in order to stay abreast of any tax-related regulatory changes.
FAQs
What trading platforms do Italian brokers offer?
The platform selection you will be able to choose from is dependent on the Italian broker you pick. In general, MetaTrader 4 and 5 are common among brokers that target Italian traders, but you will also cross cTrader and TradingView. Unique platforms developed by a given broker are another possibility.
What are the requirements for trading forex with a professional account in Italy?
To qualify as a professional trader, you must meet at least two of the following requirements. Firstly, you need to have made no less than 10 substantial trades per quarter, with a minimum value of €50,000 per quarter. Additionally, you must have a portfolio of over €500,000, which demonstrates your ability to manage significant amounts of capital. A year of being a professional in the financial sector may also qualify you for a professional trading account.
Can I use a demo account to practice forex trading in Italy?
Indeed, many Italy-friendly forex brokers offer demo accounts that allow users to practice trading. These accounts come with a set amount of virtual funds that can be utilized to test out strategies and gain an understanding of how trading works in practice.
Can I trade forex on a mobile device in Italy?
Yes, many forex brokers that cater to an Italian audience offer diverse trading platforms to clients. This includes mobile trading applications that can be downloaded from Google Play or the App Store.
Can I trade forex with a broker that is not regulated by CONSOB?
Italy is a member of the European Union and CONSOB does consider licenses issued by other regulators across the continent valid. Brokers authorized by the Bank of Ireland, CySEC, and other Europe-based supervisory entities are permitted to target Italian traders.
Conclusion
The Italian trading market is characterized by a strong presence of online brokers that offer a range of platforms, tools, and services to traders. These brokers provide a convenient and accessible way for traders to enter the market, with features such as mobile trading apps, social trading, and educational resources. The instruments available typically include indices, commodities, forex, and more. Overall, the trading market in Italy is a diverse and dynamic sector, offering a wide range of opportunities for traders to succeed. Whether you are a seasoned investor or just starting out, the Italian trading market has something to offer.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it’s essential to rely on trustworthy sources. RationalFX, a company with over 17 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it’s clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker’s service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at [email protected] or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.