Most of the Forex traders in the market prefer brokers who are regulated in their own country. Commissione Nazionale per le Società e la Borsa (CONSOB) is the government authority of Italy responsible for regulating the Italian securities market.
The Forex brokers who look to accept the traders from Italy must be regulated through CONSOB. But mostly the forex brokers get the regulation for the entire European market.
Markets in Financial Instruments Directive (MiFID) is the European regulation which most of the Forex brokers are willing to get as they can use that for the entire European market (MiFID is upgraded to MiFID II in 2018).
Since CONSOB is so lenient, most of the local Forex brokers take advantage and run their companies without proper licensing. These are unregulated Forex broker platforms. A trader should only involve with brokers which have proper regulations to safeguard their investment.
Here in this article, tradingcritique.com explains and lists the Top 3 Forex brokers in Italy after in-depth research on most of the Forex Brokers. Many factors like regulations, trading platforms, customer service, user reviews, etc., were considered in selecting these Top 3 Forex brokers.
tradingcritique.com analysed most of the broker platforms that accept traders from Italy to prepare this Top 3 ranking of Forex brokers. All these broker platforms follow CONSOB or MiFID or CySEC regulations properly. The Top 3 Forex brokers are much liked by the traders in Italy due to their efficiency and user-friendly interfaces.
Read further to know about its features, fees, commission, spreads, customer service, etc.
1. eToro
| Website link | eToro Italy |
| Regulations | MiFID, FCA, CySEC, and ASIC |
| Minimum Deposit | £200 |
| Forex Pairs | 48 Currency Pairs |
| Trading Platforms | Social + copy Trading, Stockbroking and eToro Trading Platform. |
| Fees | Withdrawal fees, Spread cost, overnight fees, and Inactivity fees. |
| Guaranteed Negative Protection | Yes |
| Guaranteed Stop Loss | No |
| Demo Account | Yes with $100,000 |
| Deposit Method | Visa, Master Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking and Bank Transfer. |
| Monthly visitors from Italy | 16.4Million (14.96% from total visitors) |
eToro is an Israel based social trading platform. It was founded as RetailFX in 2007 by Yoni Assia, Ronen Assia and David Ring. It is famous for financial and copy trading services.
eToro is a multi-asset brokerage company that introduced the social trading platform (eToro OpenBook social investment platform) globally in 2010 with a feature of copy trading. These two features make eToro stand out from other broker platforms in the trading field.
Social trading is like social networking inside eToro where you can follow and view the activities and updates of other traders. You can copy the trades and moves of the successful traders automatically using the copy trading feature. These two features are the first of their kind in the field of trading.
eToro is a multi-asset platform where traders can access more than 2000 different financial assets (48 currency pairs) with short-term and long-term investment. It offers a very minimal commission and spreads with no hidden charges.
eToro is considered to be one of the safest brokers as they have purchased an insurance policy from Lloyd’s of London for its clients’ benefits. The insurance covers up to 1 million (EUR, GBP or AUD) based on the client’s country and its regulatory body.
eToro serves clients from all over the world. It has head offices in 4 major countries.
2. Plus500
| Website link | Plus 500 Italy |
| Regulations | CySEC, FCA, ASIC, FMA, FSCA,MAS, and FSA |
| Minimum Deposit | $100 |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | Plus500 trading platform |
| Fees | Spread cost, Overnight funding costs, Currency conversion fees and Inactivity fees. |
| Guaranteed Negative Protection | Yes |
| Guaranteed Stop Loss | Yes |
| Demo Account | Yes with €40000 |
| Deposit Method | Visa, Master Card, PayPal, Skrill, and Bank Transfer. |
| Monthly visitors from Italy | 10.8Million (12.58% from total visitors) |
Plus500 is a global fintech firm founded by six alumni of the Technion – Israel Institute of Technology, namely, Gal Haber, Alon Gonen, Elad Ben-Izhak, Shlomi Weizmann, Omer Elazari and Shimon sofer in the year 2008. It was started with an initial investment of $400,000 contributed by Gonen.
Plus500 is listed on the London Stock Exchange, and it is a constituent of the FTSE 250 index.
Online trading in CFDs is mainly focused on Plus500 with more than 2500 financial instruments. Plus500 offers two types of accounts, Retail and Professional. In both the accounts most of the features are the same except Leverage, Cash rebates and Financial Ombudsman Service.
Plus500 is available for trading in more than 50 countries. It has offices mainly in the United Kingdom, Cyprus, Australia, Singapore, and Seychelles under their respective regulatory bodies.
3. FXTB or ForexTB
| Website link | FXTB Italy |
| Regulations | CySEC |
| Minimum Deposit | $250 |
| Forex Pairs | 55 Currency Pairs |
| Trading Platforms | MetaTrader 4 (MT4) and Proprietary trading platform |
| Fees | Spread cost, Overnight funding costs, Withdrawal fees and Inactivity fees. |
| Guaranteed Negative Protection | Yes |
| Guaranteed Stop Loss | Yes |
| Demo Account | Yes with $100,000 |
| Deposit Method | Visa, Master card, e-Wallets and Bank Transfer. |
| Monthly visitors from Italy | 312.5K (31.63% from total visitors) |
ForexTB or FXTB is Cyprus based broker founded in 2015 by the company Forex TB Ltd. They are regulated and licensed by CySEC to provide trading services throughout European Economic Area (EEA) and Switzerland except for Belgium.
ForexTB offers 2 account types, Retail and Professional with 4 subcategories Basic, Gold, Platinum and VIP. Every account has different specifications on Deposits, Spreads, live Webinars and Withdrawal fees.
ForexTB allows the traders to choose the trading platforms. First is a proprietary platform developed by ForexTB for web-based trading and the other one is MetaTrader 4 (MT4).
One Final Conclusion
The research team of tradingcritique.com has listed the Top 3 Forex brokers in Italy considering various features and uniqueness of these above-mentioned broker platforms. These are the best and regulated Forex brokers in Italy according to our research team. Choosing the broker is the most important thing and choose it according to your trading requirements considering our experts’ advice.
