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  Forex trading gains much popularity in Italy, according to a recent survey, over 10% of Italians trade forex. This situation partly lies in the fact that Italy is a member of the European Union, and the euro is the official currency of the EU, thus making it easy for Italians to trade forex, as they save much trouble in exchanging their currency into another currency before trading. Another reason is Italian government's relatively relaxed regulatory environment for forex trading, easy for Italians to open a forex trading account and start trading.

  Regarding regulation, the Commissione Nazionale per le Società e la Borsa (CONSOB), is the major regulator of forex trading in Italy. On the one hand, CONSOB is responsible for ensuring that forex brokerage firms operate in a fair and transparent manner. On the other hand, it also protects investors from fraud and market manipulation.

  Large numbers of forex brokers, domestically and internationally sourced, have been actively operating in Italy, targeting millions of traders there. Thus, picking reliable and trusted brokers among them can be, honestly, daunting. Here we genuinely select the best forex brokers in Italy to help you avoid scams and gain more confidence in trading.


8 Best Forex Brokers in Italy

Globally regulated and recognized, a good reputation among traders.

Patient customer service team always on your side to provide assistance.

Regulated by tier-1 FCA and ASIC, giving traders more confidence.

Ability to trade both cash CFDs and Index Futures for indices.

Over 9000 currency, stocks, ETFs, indices, and commodities are available.

Advanced trading tools allow you to analyze markets and execute trades with confidence.

more

Comparison of Best Forex Brokers in Italy

Forex Broker

License

Minimum Spread

Maximum Leverage

Minimum Deposit

Open account

Details

Compare

8.49
Domestic Regulation
1 pips
1:200
$250
Regulated
0.0 pips
1:500
$1
8.46
Domestic Regulation
0.0 pips
1:500
$100
8.24
Regulated
0.1
1:30/1:100
$2,000
7.53
Regulated
0.75 pips
1:30
$10
7.86
Regulated
0.5 pips
1:30
$0
6.48
Regulated
0.0 pip
1:500
$0

8

XTB
6.66
Regulated
0.35 pips
1:30
$0

Best Forex Brokers in Italy Overall

Broker Why are they listed as the Best Forex Brokers in Italy?
IG

√ Globally regulated, including FCA in UK, AMF in France.

√ A well-established broker with a long operation history of over 20 years.

√ Transparent trading fees, responsive customer service, highly recognized by a large number of traders.

admiral markets

√A solid regulation, including FCA in the UK, and CYSEC in Cyprus, well operated so far.

√ Powerful MT4 and MT5 trading platform offered, making trading smoothier with the help of EAs and VPS.

√ A comprehensive suite of quality educational contents, including video, webinars and demo account, invaluable tools for beginners.

forex.com

√ Heavily regulated by multiple regulators, a long-standing player, one of premier brokers in Italy.

√ Faviorable trading conditions, including competitive spreads, fast order execution, solid trading platform performance.

√ Carrying high ratings, including high user satisfaction, a high score of 9.43 ( full mark of 10) on WikiFX.

saxo markets

√Heavily regulated in European areas, like France, Italy, and locally regulated.

√An average rating of 4.2 out of 5 based on over 1,000 reviews, very rare among brokers.

√ Traders in Austria trust this broke a lot for its solid performance.

etoro

√ Heavily regulated by multiple regulators, especially FCA and CYSEC, offering a degree of safety.

√ Famous for its social trading feature, chased by millions of traders, beginners and seasoned traders.

√ Over 20 languages for customer service and trading services.

plus500

√ A Cyprus-located broker, heavily regulated by various regulators, including CYSEC, FCA, a considerable player in Europe.

√ A high satisfaction rate amongst its users on various review platforms.

√ Known for its efficient withdrawal process, 7/24 customer service helpful and professional.

blackbull

√ Strictly regulated by FMA, one of the top brokers in the world, with a solid reputation.

√Benchmark execution speeds reliably hitting under 15ms for seamlessly fast trading.

√ Transparent trading fees, and responsive customer service, making your trading much easier.

xtb

√Heavily regulated in Europe, including CYSEC in Cyprus, FCA in the UK, CNMV in Spain.

√ Access to 54 global markets, investing real stocks without any commissions.

√ with over 20 years' operation in the financial markets, the choice of over 840,000 customers.

IG

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, FCA, FSA, NFA, AMF, FMA, MAS, DFSA

  Best for professional traders

  Founded in 1974, IG is a British multinational over-the-counter (OTC) derivatives trading services company and trading broker, operating from five global offices as IG Group Holdings Plc. IG Trading is considered a safe platform because it is highly regulated by several top-tier regulators. Notably, the customer support team performs professionally, reacting quickly with what traders concern, thus having a good standing among investors. Honestly, this platform fits for seasoned traders, providing access to various advanced trading platforms. On the negative side, higher trading fees on stock CFD occur.

Pros Cons
  • Strong regulatory frame
  • High Stock trading fees
  • Demo accounts provided
  • Limited product portfolios
  • Responsible customer support

  • Quality educational tools

  • Suitable for professional traders

  • Free deposit and withdrawal

Admiral Markets 

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, FCA, CYSEC, FSA

  Best for quality educational tools and Metatrader features provided

  Established in 2001, Admiral Markets is a globally-recognized forex and CFD broker regulated by the UK's Financial Conduct Authority (FCA). The company also operates in Australia under Admirals AU Pty Ltd, holding Australian Financial Services Licence number 410681, regulated by the Australian Securities and Investments Commission (ASIC). It offers a comprehensive suite of trading products, including forex, indices, commodities, stocks, bonds and ETFs. With trading platforms like MetaTrader 4 and 5, and WebTrader, Admiral Markets stands out for its competitive spreads, prompt execution and exceptional customer support.

Pros Cons
  • A globally regulated broker
  • Product range limited to CFDs
  • Access to 8000+ markets

  • Multiple trading platforms

  • Useful trading tools, like Stereo Trader, VPS

  • Demo trading accounts offered

  • Low threshold for real trading

  • Rich and quality educational and Analytics tools

FOREX.com

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, FCA, CYSEC, FSA

  Best for active traders, low-cost trading

  FOREX.com is a reputable online forex and CFD broker based in the United States. Established in 2001, it has built a strong reputation in the industry. This broker offers a diverse selection of trading instruments, such as forex, commodities, and indices, to meet the needs of both individual and institutional traders. One of the standout features of this platform is its user-friendly and versatile trading interface. Traders can choose between the popular MetaTrader 5 (MT4) platform, tradingview or the proprietary web-based platform. These options offer a robust and intuitive experience for executing trades and managing portfolios.

Pros Cons
  • A well-established broker with a good repuation
  • Lack of MT4 trading platform
  • Access to various international markets

  • Competitive fee structure

  • Negative balance protection

  • Quality research tools

  • Tradingview provided, robust charting tools

 Saxo Bank

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, FCA, FSA, SFC, AMF, CONSOB, FINMA, MAS

  Best for advanced trading tools provided

  Saxo Bank is an online multi-asset trading and investment specialist that was established in 1992 and is based in Copenhagen, Denmark. Saxo Bank is authorised across Europe, Asia, and Australia and holds banking and investment banking licences issued by the Danish Financial Supervisory Authority. Saxo provides a wide range of trading options, including forex, CFDs, stocks, futures, options, bonds, and other asset classes. These can be accessed through the user-friendly SaxoTraderGO platform and the advanced SaxoTraderPRO platform. With a single margin account, clients have the convenience of accessing over 35,000 instruments across global markets.

Pros Cons
  • Operating under strong regulation
  • Minimum deposit a little bit high
  • Access to various markets
  • Online chat not available
  • A well-established broker with a good reputation

  • Advanced trading tools

  • Low spreads and commissions

  • Cash rewards offered

  • Global presence

eToro

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, CYSEC, FCA

  Best for copy and crypto trading

  eToro represents one of the leaders in the global fintech revolution. Established in 2007 and headquartered in Cyprus, this innovative social trading platform allows users to connect, share strategies and replicate the performance of successful investors. eToro boasts unique features such as “CopyTrade,” which enables users to mimic the trades of top-performing traders, and a user-friendly trading dashboard with real-time charts, pricing alerts, and multi-asset support. eToro offers a broad range of assets from stocks, ETFs, and commodities to cryptocurrencies.

????Pros ????Cons
  • Stringent regulation
  • Limited customer support options
  • Advanced trading platforms
  • Withdrawal fees
  • Low minimum deposit required

  • Commission-free on most trading instruments

  • eToro Academy

  • Copy trading feature

  • Crypto staking offered

Plus500

logo

  Overall: ⭐⭐⭐⭐⭐

  Regulation: ASIC, CYSEC, FCA, FMA, MAS

  Best for low-cost trading in currencies

  Established in 2008, Plus500 is an online trading platform that offers retail investors a diverse selection of financial instruments. These include stocks, cryptocurrencies, commodities, forex, and more, all accessible through Contracts for Difference (CFDs). Operating in multiple countries and being regulated by various financial authorities, it offers users a sense of trust and security. Traders have the option to access the platform through web and mobile applications, providing convenience for individuals interested in participating in leveraged trading across global markets.

Pros Cons
  • Features on 30,000 markets
  • Higher CFD fees
  • Global presence in 50 countries

  • Free demo accounts available

  • Competive trading fees

  • Advanced trading platforms

  • Free demo accounts

Blackbull 

logo

  Overall: ⭐⭐⭐⭐

  Regulation: FMA, FSA

  Best for high-frequency and scalping trading

  Blackbull is a New Zealand-based online forex broker that was established in 2014. They offer trading in currency pairs as well as equities, commodities, futures, cryptocurrencies, and indices. There is no minimum deposit necessary to start a live account with Blackbull, and the astonishing maximum leverage is 1:500, which is great news for high-frequency brokers and scalpers. Blackbull not only provides a wide selection of robust trading platforms, but also a wide variety of trading tools for a wide variety of trading strategies, such as VPS trading, copy trading, and more. Finally, Blackbull offers 7/24 multilingual customer care to help customers quickly resolve any trading-related issues they may have.

Pros Cons
  • Cryotocurrency coverage
  • Order executed delays sometimes
  • VPS & Autochartist offered
  • Robot online services
  • 7/24 Multilingual customer service
  • Not open to all traders
  • Spread and commissions favorable

  • Many trading platform choices

XTB 

logo

  Overall: ⭐⭐⭐⭐

  Regulation: CYSEC, FCA, CNMV

  Best for stock trading with zero commissions

  XTB stands as a global online trading and investment brokerage firm, specializing in the provision of contracts for difference (CFDs) across a wide spectrum – from forex, indices, commodities, stocks, ETFs, to cryptocurrencies. With a founding year of 2002, XTB boasts a rigorous regulatory standing, accredited by numerous financial authorities across the globe. These include the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). For traders seeking diverse trading platforms, XTB extends an array of choices. Among them, the award-winning xStation 5 web and mobile platforms take the spotlight.

Pros Cons
  • Regulated by FCA, CYSEC
  • Access to 5,400 popular markets
  • Limited crypto options
  • Zero commissions on stock trading

  • Demo accounts for practice

  • Market making model

  • Innovative xStation platform


Forex Trading Knowledge Questions and Answers

Is forex trading legal in Italy?

  Yes, forex trading is legal in Italy, and the regulatory environment for forex trading in Italy, more precisely, is relatively favorable.The Commissione Nazionale per le Società e la Borsa (CONSOB), which is the Italian Securities and Markets Commission, responsible for ensuring that forex brokers operating in Italy comply with certain requirements, such as having a license, segregating client funds, and providing risk warnings to clients.

Consob

  Some key regulations that apply to forex trading in Italy include:

  •   Negative balance protection:Brokers must offer negative balance protection, which means that if clients lose more money than they put into their account because their investments didn't work out, they won't owe more than what they originally invested.

  •   Leverage limits: The maximum leverage that can be offered to retail clients is 30:1 for forex pairs and 20:1 for other assets. Brokers use this lever tool to allow trades to gain more flexibility in trading. However, this is very risky. So, regulations that lower leverage limits can reduce retail traders' trading risks.

  •   Segregated client funds:Client funds must be segregated from the broker's own funds. On the one hand, this action can prevent brokers from appropriating clients' funds. On the other hand, clients' money is protected in the event of the broker's insolvency.

  •   Risk warnings: Brokers need to give their clients warnings about risks, especially in forex trading, to explain all the potential dangers. Additionally, CONSOB puts certain scam brokers on a blacklist every year to caution investors to avoid falling into scams.

Can I trade forex without a broker?

  The answer is No.You can not trade forex without a forex broker because forex brokers are the only entities that have access to the interbank market, the market where currencies are traded at wholesale prices. Individual traders do not have access to this market, so they need to go through a forex broker to trade currencies.

broker

  Furthermore, forex brokers offer an array of additional services to forex traders. Among these are margin accounts, trading platforms, and market research. Margin account, or we can say leveraged trading, enables traders to borrow funds for trading, potentially increasing profits but also raising the risk of losses if the market goes against their positions. Trading platforms, especially Metatrader platforms, serves as the software through which traders execute trades with the tools and resources necessary for effective decision-making.

Can I trade with a broker regulated outside Europe in Italy?

  Trading with a broker regulated outside of Europe is possible in Italy under specific circumstances. Italy's regulatory body, Commissione Nazionale per le Società e la Borsa (CONSOB), permits Italian residents to trade with brokers regulated by other jurisdictions, provided those jurisdictions meet specific equivalency criteria.

  Yet, one piece of advice for traders considering this notion, seek out established leaders in the forex industry like Exness, IC Markets, XM, IG, and others, and never engage with brokers whose names you aren't familiar with.

international-broker

Is cryptocurrency trading available in Italy?

  Yes, cryptocurrency trading is legal and available in Italy. Italian citizens can freely purchase, sell, and trade cryptocurrencies on various cryptocurrency exchanges. There are a number of cryptocurrency exchanges that operate in the country, and many Italian citizens are interested in trading cryptocurrencies.

  The most popular cryptocurrency exchanges in Italy include Binance, Coinbase, and Kraken, offering lots of trading pairs, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). They also offer a variety of features, such as margin trading, staking, and lending.

What are scam brokers that traders should avoid in Italy?

  Scam brokers are widespread in forex world, especially targeting unsuspecting traders in Italy. They employ deceitful tactics to entice traders into opening accounts, subsequently manipulating the market to lead traders into financial losses. So, here we highlight five scams that traders should steer clear of when trading forex in Italy.

Broker Logo Registered Country Regulation Establishment of Years Trading Platform Customer Support
Axi24
logo
United Kingdom
logo
1-2 years Unknown Phone & Email
Prime Invest
logo
Unknown
logo
1-2 years Unknown Email
XTB Empire
logo
Cyprus
logo
Within 1 year Unknown Phone, Email
Simple Trading
logo
United Kingdom
logo
Within 1 year Unknown Phone, Email
Primus LTD
logo
United Kingdom
logo
Within 1 year Unknown Phone, Email

  Axi24asserts regulation and authorization, but upon checking the FCA website, no trace of the company or broker exists. Axi24, a relatively young broker founded in 2022, lacks an accessible official website, indicating it might have ceased operations. Moreover, although the broker claims to offer web trading platforms, our attempts to access them have failed, raising doubts about its credibility in providing these services.

regulation
website

  Prime Invest, a recently established broker, lacks regulation from any regulatory authority. Verification on the FCA's website reveals Prime Invest is not an authorized firm. The broker's official website is inaccessible, and reaching its customer support team proves to be as challenging as scaling a mountain, with no response received.

regulation
fca
website

  The domain of XTB Empire was registered in October 2022. This broker operates without regulation from any authorized regulatory body. Moreover, on May 12th, 2023, Italy's regulator, CONSOB, issued a warning, labeling XTB Empire as fraudulent. Subsequently, CONSOB took action by blacklisting the website and officially declaring it an unlawful financial intermediary.

regulation
fca

  Simple Trading, yet another forex broker, operates without regulation from any authorized authority, including the FCA. The domain of Simple Trading was registered in 2022, less than a year ago. However, their official website remains inaccessible, and attempts to contact their representatives only result in promotional content. Numerous complaints from victims highlight cases of being defrauded by this scam broker.

regulation
offcial-website

  Primus LTD, an unregulated forex broker registered in the United Kingdom, doesn't appear on the FCA website. Additionally, the broker's official website remains inaccessible. Numerous victims have reported being defrauded by this broker.

regulation
offcial-website

Do I need to pay taxes for trading forex in Italy?

  Italy considers forex trading profits to be capital gains, which are subject to a tax rate of 26%. This means that if you make a profit from trading forex, you will be required to pay taxes on that profit. The amount of tax you will owe will depend on the total amount of your profit.

  To calculate your forex trading profit, you will need to subtract the total cost of your trades from the total proceeds of your trades. The cost of a trade includes the initial purchase price of the currency, any commissions or fees charged by the broker, and any interest or other charges that you may have incurred.

taxes

To Wrap Up

  On WikiFX.com, our evaluations of online forex brokers, along with their offerings and services, are derived from the data we've gathered and the informed insights and professional perspectives of our expert researchers.

  We conduct a thorough review of each broker's regulatory compliance, commission rates and charges, minimum deposit needs, leverage availability, performance of the trading platform, and the speed of withdrawal processes. Through our technologically-backed assistance, we strive to ensure you have a solid understanding of these aspects.

  We sincerely maintain an updated leaderboard of top brokers and offer extensive forex guides. With a catalog of over 50,000 brokers regulated by 30+ authorities,boosting confidence and simplifies trading experiences for your forex journey.

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