Best Forex Brokers in Italy
Best Forex broker in Italy is RoboForex
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RoboForex - Best Forex Broker With The Lowest Spread in Italy
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Tickmill - ECN trading fee is only $2 per lot
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FxPro - Good Option for Beginners in Italy
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Admiral Markets - Excellent all-around offering for professional traders in Italy
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IC Markets - Extra tight spread from 0.1 pips
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XM Group - Wide range of MT4/MT5 features
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AvaTrade - Top features for beginners
The Forex market is widely recognized as one of the biggest markets in the world, boasting a daily trading volume that has exceeded $6 trillion. This market witnesses enormous volumes of trading activity every day, regardless of location. Many countries attract a significant number of traders who participate in Forex trading.
Forex trading conditions in Italy are subject to regulations imposed by the Italian Securities and Exchange Commission (CONSOB), which includes measures to protect retail investors and ensure transparency in the market. Italian traders have access to a wide range of forex brokers and trading platforms, with competitive spreads and leverage options, but they must adhere to specific reporting and compliance requirements set by the regulatory authorities. Traders Union experts have, however, identified the best Forex trading brokers that cater to Italian traders, and this article highlights their recommendations.
The best brokers for Forex trading in Italy compared
Traders Union's team of analysts have created a comprehensive comparison table of the best Forex brokers in Italy for 2023 using their Forex broker comparison tool. The data gathered is useful for inexperienced Italian traders looking to evaluate brokers. With this information available, traders can select a broker that best fits their individual needs. The table can be viewed below.
| Position | Rating score | Minimum Deposit | Regulation | Bonus For Deposit | Leverage | Open an account |
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Minimum Deposit: $10 | Regulation: IFSC, CySEC | Bonus For Deposit: 120% | Leverage: From 1:1 to 1:2000 |
Open an Account
STUDY REVIEW
Your capital is at risk.
58.42% of retail investor accounts lose money when trading CFDs with this provider. |
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Minimum Deposit: $100 | Regulation: FSA, LFSA, FSCA, CySEC, FCA | Bonus For Deposit: 30% | Leverage: From 1:1 to 1:500 |
Open an Account
STUDY REVIEW
Your capital is at risk.
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Minimum Deposit: $100 | Regulation: SFSA, ASIC, CySEC | Bonus For Deposit: 0% | Leverage: From 1:1 to 1:200 | |
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4
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Minimum Deposit: 1$ | Regulation: CySEC, FCA, ASIC | Bonus For Deposit: 100% | Leverage: From 1:25 to 1:500 |
Open an Account
STUDY REVIEW
Your capital is at risk.
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5
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Minimum Deposit: $200 | Regulation: SFSA, ASIC, CySEC | Bonus For Deposit: 0% | Leverage: From 1:1 to 1:500 |
Open an Account
STUDY REVIEW
Your capital is at risk.
75.93% of retail investor accounts lose money when trading CFDs with this provider. |
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6
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Minimum Deposit: from $5 | Regulation: ASIC, FCS, CySEC | Bonus For Deposit: 100% | Leverage: From 1:1 to 1:30 |
Open an Account
STUDY REVIEW
Your capital is at risk.
77.74% of retail investor accounts lose money when trading CFDs with this provider. |
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7
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Minimum Deposit: $100 | Regulation: CBI, ASIC, FSCA, FSA, FFAJ, BVI FSC, FSRA | Bonus For Deposit: 0% | Leverage: From 1:30 to 1:400 |
Open an Account
STUDY REVIEW
Your capital is at risk.
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RoboForex
RoboForex is a brokerage firm that has been in operation since 2009 and is considered one of the best Forex brokers for beginner traders in Italy. The broker is regulated by the International Financial Services Commission (IFSC) and holds a CySEC license for its European operations. With over 12,000 trading instruments and eight asset types, RoboForex uses advanced trading platforms and technologies to meet the needs of its Italian clients. Additionally, the broker offers low commission fees, making Forex trading more accessible for Italian traders.
RoboForex is a well-known brokerage firm that is recognized for its quick order execution and exceptional trading atmosphere. The brokerage charges trading fees that begin at $2 USD for ECN accounts, with spreads varying from 0.01 to 1.3 pips, depending on the type of account chosen. A RoboForex account can be opened with a minimum deposit of $10 USD.
RoboForex is a popular choice for Italian traders, offering a variety of live trading accounts, including the Swap-Free account for Muslim traders who follow Islamic financial principles. In addition, RoboForex provides exceptional insurance and negative balance protection. The brokerage firm's advanced trading platforms, cTrader and RTrader, offer Italian traders access to a wide range of trading instruments, ensuring optimal trading results.
Extra features
Presence of an advanced copy trading platform, CopyFX
There’s a demo account to practise trading
Advanced social trading tool
Direct US stocks trading
No cost VPS server
👍 Pros
•The broker has a wide variety of trading tools
•Tight spreads starting at 0 pip
•Executes orders quickly, and
•Quick money withdrawal
👎 Cons
•Don't accept clients from the US, Canada, Australia, or Japan
Tickmill
Tickmill is a Forex and CFD brokerage platform that has been in operation since 2014. The company is regulated by financial authorities such as the UK's Financial Conduct Authority (FCA). Tickmill works with highly reputable liquidity providers to offer customers the lowest spreads and minimal risks for the assets that they trade. Italian traders using Tickmill can access over 85 different instruments including stocks, bonds, precious metals, CFDs, and indices.
Tickmill is a top Forex and CFD brokerage platform that has earned a reputation for offering its customers the lowest spreads and minimal risks. Forex trading is one of the most popular activities on the platform, and the MetaTrader 4 platform allows trading in 62 different national currencies, including minor, exotic and major currencies. The leverage for Forex trading on Tickmill goes up to 1:30, while the spreads start from 0.0 pips. There are no requote trading costs, and no limits on trading. The minimum deposit is $100, and the minimum leverage is 1:20. Tickmill is a popular choice among traders worldwide, including those from Italy, for trading in a variety of assets such as global Forex, CFDs, stocks, and cryptocurrencies.
Extra features
Autochartist feature for innovative trading
Forex calculator that helps streamline the Forex trading process for traders
Myfxbook that allows social copy trading
Tickmill offers a highly functional mobile version for traders on-the-go
There’s a demo account for beginners
👍 Pros
•Low spreads from 0 pips
•Protection against negative balance
•Deposit and withdrawal transactions are fast and transparent
•There’s a mobile trading platform
👎 Cons
•There is no cent account
•There is no trust management
FxPro
FxPro is a leading Forex trading platform that has been providing Italian Forex traders with advanced trading tools, high liquidity, and an extensive range of trading instruments since 2010. The platform is regulated by several authorities, including the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority, and the Securities Commission of the Bahamas. Italian traders can trade contracts for differences in six asset classes, including Forex, shares, spot, futures, spot metals, and spot energies, with FxPro.
To start trading with this particular broker, a minimum deposit of $100 USD is required. Italian traders who choose this platform can anticipate facing fees that commence at $3 USD, spreads that can go as low as 0.01 pips, and leverage that varies at 1:20 based on the type of account they select. Additionally, FxPro provides a mobile Forex trading application known as FxPro Direct.
FxPro assures Italian traders of high-quality liquidity and advanced execution of trades with no external intervention. The platform provides traders with access to over 2100 trading instruments and offers a wide variety of account types with competitive trading conditions and rapid execution rates. FxPro is highly regarded for its reliability and trustworthiness, which stems from its negative balance protection and regulation by multiple financial authorities. Italian traders can be confident while trading on FxPro.
Extra features
There’s a free Virtual Private Server
There’s a Forex calendar that keeps Italian traders informed
Presence of a MetaTrader suit
Advisors for beginner traders
👍 Pros
•Competitive spreads without a fee
•Has an Ultra-Fast execution
•Provides Deep Liquidity
•There’s a negative balance protection policy
👎 Cons
•Has high trading fees when compared to other trading platforms
•The platform's educational area is lacking in details on CFD and Forex principles
Admiral Markets
Admiral Markets is a well-known Forex broker which has been in operation since 2001. The company is regulated and authorized by top-tier regulatory institutions such as the FCA and CySEC, which guarantees financial confidence and investment security for Italian traders. It is a major online trading service provider that offers investment services to trade Forex and CFDs on a variety of instruments such as indices, metals, energies, agriculture, stocks, ETFs, and bonds. With a strong global presence and excellent reputation, Admiral Markets offers seven different account types for Italian traders, including a risk-free demo account for practice and an Islamic or Swap-Free Account.
Admiral Markets is a popular trading platform that enables Italian traders to benefit from leverage rates as high as 1:30. With this, traders can execute trades in any direction without incurring extra charges on short sales. However, it's essential to note that trading with Admiral Markets may attract fees as low as $0.02 USD, and spreads can go as high as 0.05 pips, based on the chosen account type. Additionally, the minimum deposit requirement to register an Admiral Markets trading account is $25 USD.
Extra features
There’s a Copy Trading platform
A demo account for trading practice
It offers a multi-functional mobile application, users can trade on the go
Offers over 8000+ markets to trade
👍 Pros
•Clients of Admiral Markets have a vast range of deposit and withdrawal options to select from
•It’s well-regulated
•The Forex broker provides commission-free trading
•Has MetaTrader Supreme Edition
•Has an extensive list of educational materials
•Easy-to-use website
👎 Cons
•The availability of customer support from the broker is limited to five days in a week
IC Markets
IC Markets is an online brokerage firm established in 2007 and is based in Australia. As a reputable broker, IC Markets offers a range of advanced trading solutions to traders in Italy, with top-notch trading platforms that cater to all types of traders. With IC Markets, traders in Italy can enjoy low latency connectivity, superior liquidity, and cutting-edge trading platforms. Depending on the account type selected, fees start at $3 USD, with commission-free trading and spreads starting at 0.0 pips. Moreover, Italian traders can access more than 2250 trading instruments for trading on different markets.
IC Markets is a regulated broker that has been authorized and overseen by top international regulatory bodies such as ASIC, CySEC, FSA, and SCB. With a minimum deposit requirement of just $1, IC Markets is highly accessible to traders. Italian traders can also access a variety of trading instruments including futures, stock indices, and commodities, in addition to Forex trading. IC Markets is known for its high leverage, low spreads, and low commission fees, making it a popular choice among traders.
Extra features
IC Social for copy trading
Presence of multiple trading platforms
Islamic/swap free accounts
API trading feature
👍 Pros
•Straightforward registration process
•Low spreads and commission fees
•Demo account
•No commission fees on deposits and withdrawals
•Fully regulated
👎 Cons
•Traders who are located outside the European Union do not have the benefit of negative balance protection
•Delay in payments for a couple of days
XM Group
XM Group is a globally recognized CFD and Forex broker with a significant presence in Italy. The company is regulated by ASIC in Australia, CySEC in Cyprus, and IFSC in Belize, making it one of the most reliable and secure brokers in the industry. XM offers low withdrawal and stock CFD fees, a minimum deposit of $5, and high leverage of up to 1:20. With over 1,000 trading instruments, including commodities, metals, stocks, and CFDs, XM provides some of the most competitive spreads in the market, with rates as low as 0.0 pips.
XM Group is a widely recognized Forex and stock trading platform with a large global user base. It has been operational since 2009 and is currently regulated by two securities commissions, namely the Cyprus Securities and Exchange Commission and the Australian Securities and Investments Commission. XM offers a range of educational resources, such as webinars and a demo account, to Italian traders, enabling them to test their trading platforms and services.
Extra features
Demo account to test out the various trading platforms
Gain access to trading signals on MQL5
Powered by a free virtual private server
Tradepedia for top-notch education in Forex and CFD trading
👍 Pros
•CFD trading and withdrawal fees are incredibly affordable on this platform
•Creating a new account is a quick and straightforward process, designed to be user-friendly
•Numerous educational resources are available on the platform, and webinars are frequently conducted to enhance traders' knowledge
•A demo account with unlimited time and simulations of all features is available to users
👎 Cons
•PAMM accounts are not currently offered
AvaTrade
Avatrade is a Forex broker that has its base in Ireland and caters to traders from Italy. The company was established in 2006 and is presently one of the most reputable brokers globally; with over 200,000 registered traders from different parts of the world. Avatrade is regulated by some of the most reliable regulatory bodies in the world such as the Central Bank of Ireland, FSCA (South Africa) & ASIC (Australia), which guarantees the safety of trading with them. As a fixed spread broker, traders are charged a fixed fee for every trade, and they offer a competitive fee structure according to TU experts.
AvaTrade provides traders with a range of proprietary platforms, including WebTrader and AvaTradeGO, in addition to the popular MetaTrader platform. These platforms offer innovative features such as AvaProtect to help traders manage their risk. The broker offers a wide range of trading instruments, including more than 60 currency pairs, major stock indices, cryptocurrencies, commodities such as gold, silver, sugar, and coffee, bonds, individual shares, and ETFs, with more than 1000+ instruments available on various platforms. The AvaOptions mobile app, powered by Sentry Derivatives, provides Italian traders with an excellent Forex options trading platform. AvaTrade also offers social copy trading options such as AvaSocial, ZuluTrade, and DupliTrade.
With AvaTrade, traders can easily open an account with a minimum deposit of $100. The Italian traders are offered a commission-free pricing environment, but they have to deal with high spreads. For instance, the EUR/USD starts with 0.9 pips or $9 per 1.0 standard lot. Traders in Italy get a maximum of 1:30, in line with ESMA policies. However, it is worth noting that AvaTrade does not offer volume discounts or guaranteed stop losses.
Features
AvaProtect is a tool that is indispensable for mitigating risks
The AvaTradeGO mobile app
AvaSocial allows you to replicate the trades made by the most skilled traders
There’s a demo account
👍 Pros
•Avatrade is regulated by the Bank of Ireland, FSCA and other top regulators. This means they are safe as they are well regulated
•Fixed spread account, with very competitive spread
•They have an Italian phone number for support
•Avatrade offers the latest MT5 platform. Metatrader 4 is also available
👎 Cons
•Inactive account fee
•Support is only available during company’s European business hours
Key Forex trading rules limitations in EU
The European Securities and Markets Authority (ESMA) oversees the trading of CFDs (contracts for difference) in Italy, as the country is an EU member. To safeguard retail clients, ESMA has imposed restrictions that regulate the offerings of Italian Forex brokers. As per these limitations, brokers are prohibited from providing incentives or bonuses when trading CFDs. Furthermore, brokers must provide negative balance protection to limit clients' losses, and close out open CFDs for clients at 50% of the minimum required margin, following the ESMA regulations.
In Italy, retail clients who engage in CFD trading through brokers are bound by specific leverage constraints. The most substantial leverage for major currency pairs is limited to 1:30, whereas minor Forex pairs, major indices, and gold have a cap of 1:20. Commodity CFDs are limited to a maximum leverage of 1:10, while individual stocks and other benchmarks are restricted to 1:5. Trading cryptocurrency CFDs is also limited, with a maximum leverage of 1:2. These limitations are in place to protect traders from excessive risk and potential losses.
Rules and Regulation
Licensing in Italy
In Italy, the primary supervisory bodies are the Italian Companies and Exchange Commission (CONSOB) and the Bank of Italy (BI). Forex brokers in Italy must observe the provisions of the European Securities and Markets Authority (ESMA) and the Markets in Financial Instruments Directive (MiFID). The main requirements to obtain a license are:
- registration as a legal entity in compliance with the local law.
- registered capital from €30,000 to €500 000.
- professional liability insurance.
- compliance with CONSOB’s internal rules, including the rules for accounting, financial statements, risk management, and client protection.
CONSOB-regulated brokers must file financial statements at least once a year.
Investor protection in Italy
CONSOB regularly investigates violations of financial norms, protecting the financial market of Italy. The Commission guarantees EUR 20,000 compensation for every user deposit made with all brokers it oversees.
Taxation in Italy
Residents of Italy pay a 26% tax on income from all types of investments, including stocks, bonds, cryptocurrencies, and futures. There is also a 0.02% tax on high-frequency trading collected from every trade executed after an established trade limit.
How to choose a Forex broker in Italy?
The popularity of Forex trading has resulted in a high demand for Forex brokers. However, it is important to note that not all brokers are suitable for all traders. To make an informed decision and trade Forex confidently in Italy, experts from TradersUnion have provided the following tips:
Regulation:
When searching for a reliable Forex broker, one of the key factors to consider is regulation. Regulated brokers are bound by law to keep their clients' funds in separate bank accounts, apart from their own operational funds. It's crucial to check whether the broker is regulated locally or adheres to European regulations. This measure is essential in guaranteeing the safety and security of your investments and funds.
Trading Costs:
When it comes to trading in the Forex market, it is essential to remain vigilant about your expenses. You will encounter various costs such as spreads, commissions, and swaps, just like in any other business. These costs can significantly impact your overall profitability, so it is crucial to carefully consider them. Therefore, it is imperative to always keep the underlying trading costs in mind, which can assist you in making better decisions and maximising your profits.
Account Types:
It's common knowledge that traders have different trading objectives and preferences. Because of this, a top-notch broker will offer varied account options that can accommodate the specific needs of each trader. This way, traders can select an account type that fits their trading goals and enables them to attain favourable outcomes.
Tradable Assets:
It is important to note that while having access to a wide range of tradable assets may present more opportunities for trading, it is essential to ensure that the trading instruments provided by your broker are in line with your trading objectives. A trustworthy broker should offer a variety of assets to select from.
Execution Speed:
As a Forex trader, it's important to consider the role of execution in the fast-paced and dynamic Forex market. Choosing a broker that prioritises speedy and reliable trade execution can enhance your ability to capitalise on market opportunities. Optimal execution speeds can help you stay ahead of the game, which is why it's important to choose a broker that values execution quality. By doing this, you can make the most of the opportunities available to you in the Forex market.
What is the best time to trade Forex in Italy?
Determining the best time for Forex trading in Italy is not a straightforward task. However, according to experts, the most favorable trading time is during the overlap of the U.S. and London markets, which is from 8 a.m. to noon EST. This period is known for having the highest trading volume and providing the best investment opportunities for Italian investors.
Best Forex pairs for clients from Italy
TradersUnion experts suggest that novice traders from Italy should consider trading major currency pairs such as USD/JPY, EUR/USD, AUD/USD, and USD/CAD. These pairs are characterised by high liquidity and low spreads, which makes them a suitable option for traders who want to maximise their profits.
What are best Forex brokers for beginners in Italy?
For new Italian traders, it is important to choose a Forex broker that offers low minimum deposits, demo and cent accounts, copy trading options, PAMM trading capabilities, and high-quality educational resources. It is crucial to ensure that brokers provide trading instruments that align with traders' objectives and prioritize speedy and reliable trade execution. During the overlap of the U.S. and London markets, it is recommended to trade major currency pairs with high liquidity and low spreads. Among the best Forex brokers in Italy are RoboForex, IC Markets, FxPro, and XM Group, which offer the aforementioned features and more.
FAQs
What is the safest Forex broker?
For maximum security, it is advisable to opt for brokers that possess local regulation, European regulation, and deposit insurance.
How to trade Forex in Italy?
Finding a reputable and properly regulated broker is crucial before proceeding to set up and finance an online trading account. Once that's done, acquire a trading platform that caters to your requirements and commence trading.
Is Forex safe in Italy?
As long as you select a broker regulated by the EU/Italy, trading in the foreign exchange market in Italy is considered secure.
Do I pay taxes for Forex trading?
Yes, you do. When trading in the Forex market in Italy, it is important to note that the Italian government imposes a tax of 26% on any capital gains realised from such transactions.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).