Top Online Forex Trading Brokers in Italy

best forex broker in italy

Forex trading is very popular with residents of Italy. It is highly recommended that forex brokers, in order to do business in Italy, get authorization from CONSOB or the National Commission for Companies and the Stock Exchange. However, this is not strictly essential. 

The aforementioned CONSOB is the national financial regulatory body in Italy. Founded in 1974, CONSOB is responsible for regulating investment services, authorization of the operations of regulated markets, and monitoring of market management companies’ operations.

How to verify if there is a CONSOB authorisation?

Those residing in Italy can consult the CONSOB website for a list of authorized companies with representative offices and those authorized (but without on-site offices). Most forex brokers will be on the list without a physical representation.

Selection criteria

The brokers here have been selected following an exact research model of the operational and market advantages of forex (and a good else besides). We believe that practicing in the forex world requires the possession of a lot of extra knowledge and has to be always updated, so choosing the best broker must be a simple task.

We have  chosen the most advantageous and safe brokers that have the following features:

Simplicity

Just as investing in forex is simple from the first trades, choosing the broker for online trading should be simple. We have selected the brokers with the fewest steps required to access trades and open a trading account (whether it’s a demo or requires a minimum deposit to start).

Accessibility

The forex market never stops, and the opportunity to invest remain active at all hours. Everyone thinks that an internet connection is enough to operate effectively. Yet, according to our model, you also need a fast website, reliable from a technical point of view, safe on accounts, and easy to consult. This should all be without unnecessary information that could potentially distract and retard the trader.

Interactivity

updating market information is the basis of a trader’s success. The best brokers online we give space to are the ones who can offer additional services. This has to be at the level of offers and options of investment and information packages and training courses with video lectures, written guides, blogs, forums, and social pages. Here, professional traders and those beginners can exchange ideas and strategic considerations.

Wide offer 

Forex opportunities are vast, and our list is designed for those who want to invest independently of juggling with simplicity between proposals. Therefore, in the selection phase itself, space was given to those who presented the many offers most clearly and completely possible. In this way, the final choice of currency pairs to invest in was as simple as possible.

The possibility of high earnings

There is a turnover of several billion euros in online trading, and in forex, the value of daily trading exceeds 4 thousand billion dollars. Therefore, those who invest in the sector can access high profits in the face of equally high risks. Brokers who advertise only the former are risky without warning of the latter, especially for inexperienced investors.  We assess this aspect with the utmost attention.

Limited costs

one of the main advantages of online trading is the presence on the market of brokers who accept a low minimum capital from which to start for profit. It must be clear that it is possible to achieve excellent profits even with minimal capital. With CFDs and leverage, you can acquire buy and sell positions without owning the entire asset. Also very positive is the fact that the costs of online forex trading are low on average, although they can vary depending on the chosen broker. Finally, trading platforms almost never require periodic payments but charge commissions for trades. We have based our choice on such parameters                                                                                                                    

Online Broker: certifications and permission to trade

We can only request that you trade only with brokers that have the requisite certifications as well as permission to trade.

What requirements must a broker fulfill in order to exercise its rights legally and safely?

 At the time of incorporation, brokers must have corporate form and be licensed to operate even before entering the market.  The latter is issued by the competent public authority in the state where the company is based.

In Italy, the authority used to issue the authorization is CONSOB (National Commission for Companies and the Stock Exchange). Also, the CySEC (Cyprus Securities and Exchange Commission) is also based in Cyprus. Many brokers start and register their business here because the regulation is more convenient, but this is not an indicator of the poor quality of the broker. Nevertheless, according to the recent MiFID directive, brokers who have a license issued by the authority of an EU member state can operate in all markets.

To verify whether the broker is in possession of the license or not, just enter the broker’s website by verifying the license number and the entity that issued it. It is then possible to search the license number on the regulatory body’s website for further certainty.

Choosing the best forex brokers:  golden rules

Choosing a forex broker is one of the most important elements for traders starting to invest in online trading. The “companions” that you meet during trading can be very impactful. These can include national and central banks, investment funds, insurance companies, and large international traders.

We have  identified three golden rules for the small investor, both professional and beginner:

To understand what client needs are, particularly how much you are willing to invest, your experience and your risk appetite, and your expectations. there is no best broker in the absolute sense – but there is the best broker concerning the particular needs of the trader who wants to invest;

In forex trading, clients ought to learn to read the prices and trends of all currencies.  Charts and tables updated in real-time are the most powerful tool that an online broker can offer;

Many brokers are reliable, but those to choose with confidence do not perform investment operations unless expressly ordered by the trader. In addition, they promptly service requests for withdrawal of liquidity.

These rules are especially aimed at the small investor in forex.  This is because there is a tendency to believe that trading in forex is extremely simple and does not require great knowledge and self-control. Nothing could be farther from the truth. Even operating with the best broker, not following these rules can lead to failure and capital loss.

Who are the best brokers in online forex trading for Italians?

The broker is a key subject of investments in forex and online trading in general. It must have the capability to give the maximum guarantees. The best broker trades the instruments on the market, carries out its activity with the permissions provided by the legislation, and is transparent in its activity.

Also, Online brokers allow you to trade on multiple assets:

  •         Forex and Cryptocurrencies,
  •         Indices and stocks,
  •         CFDs and ETFs,
  •         Binary options,
  •         Commodities and bonds.

Each trader has asset preferences based on strategic factors, but some brokers are more established than others in trading each instrument. here is the some best forex broker in Italy. Be sure your broker is in sync with your trading plan.

TradedWell

Tradedwell Regulated by CySEC, the broker has matured fast despite its recent founding (2020). Headquartered in Limassol, Cyprus, the brokerage welcomes you to start trading with $250.

Maximum leverage is up to 500 for professionals. The trading desk type is STP. 

iTrade Global (Cy) Ltd, the parent company, has license number 298/16 and registration number 335424. CySEC being the regulator, standard measures are in place to safeguard client funds against volatility or broker insolvency. 

There are individual assets in excess of 170.

There are three account types. While the silver account offers an average spread of 2.8 pips on the EUR/USD pair, it also boasts of a dedicated account manager. This is particularly useful if you are a beginner trader down from the demo account simulations, still wishing to trade real with real mentoring. 

On the EUR/USD pair, the next two account types offer spreads to the tune of 2.0 pips and 1.8 pips. Over and above its preceding account type, the gold account offers free VPS, the fifth decimal, and 25% swap discount. Over and above what both previous account types offer, the platinum account presents the account owner with 50%  swap discount. 

Great trading platform 

You can trade multiple asset classes across 9-time frames. With advanced charting and 50 inbuilt indicators, you just can’t lose with TradedWell!

Brokereo 

Brokereo CySEC regulated, the broker is wise beyond its years (founded 2020). Headquartered in Cyprus, the brokerage invites you to start trading with $250. Brokereo is one of the best forex broker in Italy

The trading desk type is STP. This ensures transparency, while CySEC regulations ensure trader accounts are safeguarded against unforeseen accidents. 

The parent company Concorde Investments (Cyprus) Ltd is licensed and registered by CySEC (license number 189/13, registration number 300828). 

More than 300 individual assets are available for trading. 

Account types

There’s no commission at all while trading with any of the three account types. Silver, gold, and platinum accounts await your 5 step application process. 

Ease of trading 

With over 20 technical indicators, you can trade multiple asset classes. You can access real-time quotes. 

Swap discounts will make trading with Brokereo worth your while!

ROinvesting

ROinvesting CySEC regulated, the broker has a solid history going back to the founding year 2015. It is the CFD partner of AC Milan. ROinvesting is one of the  best forex broker in Italy

The parent company, Royal Forex Ltd., has been licensed and registered (license number 269/15; registration number 336694). These details are on the CySEC(Cyprus Securities & Exchange Commission) register. 

Account types

There are three account types – silver, gold, platinum. 

Hedging is allowed for all account types. Only retail traders use the silver account, the leverage being 1:30. The account shares the features of the ‘fifth decimal’ with the other two accounts. 

However, the gold and platinum accounts have more features. Both provide leverage up to 1:500 for professionals, as also a dedicated account manager. While the swap discounts for the gold account stays 25%, the next account type offers twice the quantum of solace. 

Trading 

ROinvesting offers all the services available through the MQL5 community in the MetaTrader platform. Copy-trading services are included. 

IGM FX 

This is a CySEC regulated CFD broker. IGM FX  concentrates on the EEA. based in Cyprus, it answers to MiFID 2. 309/16 is the license number granted to this broker by CySEC. 

As per regulations, the broker holds a  minimum capital of Euros 730,000. Clients’ accounts are segregated from broker accounts, besides Investor Compensation Fund. 

Account types 

There are four account types: 

Silver, gold, platinum, VIP. 

These are to be had by retail and professional traders alike. There are better features for the professionals. The latter can trade up to leverage 400:1. The retail trader may not aim higher than 30:1. Spreads are the same for silver and gold accounts. 

2.5 EUR/USD; 2.8 GBP/USD; 2.8 USD/JPY; $0.10 Crude Oil. 

The platinum account gives spreads as hereunder: 

1.8 EUR/USD; 2.3 GBP/USD; 2.3 USD/JPY; $0.08 Crude Oil.

For VIP account, the spreads are: 

0.9 EUR/USD; 1.4 GBP/USD; 1.4 USD/JPY; $0.06 Crude Oil. 

The platinum and VIP accounts will also be eligible for: 

Trading signals via SMS from MTE; full account overview; webinars; dedicated account manager. Actually, there’s more than meets the eye since the overview for the VIP account will be weekly, not monthly. Also, that account type gets an additional dedicated senior account manager. 

More than 160 individual assets await your perusal.

You can bank on IGM FX!

You can start trading with $250. There are no deposit fees. 

Customer support 

The customer support staff awaits your queries Monday through Friday, in several languages, 8:00-19:00 GMT.

With so many features to its trading, IGM FX  deserves your attention: scalping, hedging, negative balance cover, automated trading, trading signals, server-side orders, trailing stops, guaranteed stops, guaranteed limits, live economic events data,  one-click trading. 

BDSwiss

BDSwiss is regulated by BaFin, CySEC, FSC, NSA. Founded in 2012, it is headquartered at Apostolou Andrea Street 11, Hyper Tower, 5th Floor, Limassol 4007. You can start trading with a $100 deposit. 

Users may trade on  250+ financial CFD instruments, including Forex, Commodities, Cryptocurrencies, Equities, and indices. There are three account types, namely Classic. VIP, and Raw. This can be done on the MetaTrader 4 and MetaTrader 5 trading platforms. Additionally, for this selfsame purpose, there’s BDSwiss Webtrader and BDSwiss mobile app. 

The broker also presents you with the opportunity to avail of educational events through live analyses and webinars, and seminars. The trading academy gives you a grounding in beginner to advanced courses. Though the offer varies with account type – users may also access AutoChartist and live trading alerts through Telegram. 24/5 customer support. 

IC Markets 

Regulated by ASIC, CySEC, and FSA. Founded in 2007, IC Markets is headquartered in Sydney, Australia. With a minimum deposit of $200, you can start trading. 

You can choose to access between three core trading accounts: Raw Spread (cTrader); Raw Spread (Meta Trader); Standard Account (Meta Trader). 

Spreads begin from zero pips on the raw spread accounts with commission payable. The standard account lets you access commission-free trading with spreads from just one pip. Semo-free accounts and swap-free accounts are available as well. 

Owing to their NY Equinix NY4 data centre, processing 500,000+ trades per day, the brokerage promotes itself as the preferred choice for high volume traders, algos must-have, and scalpers. 

Notable additional features include social trading integration with Zulu Trade and MyFXbook. 

Conclusion

Though naturally, it would be good if Italians could choose homegrown talent rather than global names, they can make the best of what is currently available. Primera Liga’s pride, AC Milan, is both Italian and global. That they partner with ROinvesting ought to be enough endorsement. The other brokers we mentioned are also promising performers. We have every reason to believe a positive outlook will see Italy and the world out of the Pandemic Era. 

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