Best CONSOB Regulated Forex Brokers For Italian Traders

Best and Trusted Forex Brokers in Italy Regulated CONSOB 2018Foreign exchange remains one of the most high-risk, high-reward income generation avenues. Most global movers and shakers maintain a firm standing in the forex playground. However, other European nations, including Italy, are just now catching up to the wave.

Historically, Italy has enjoyed a relatively robust economy. With innovations ranging from fashion to entertainment, the Italian business environment seemed just right. When the country adopted the Euro and dumped its currency, the Lira, it had a rough landing. The harsh economic times saw the once glorious nation result to bailouts. Unfavorable business conditions and a regulatory watchdog that bites down hard on risky investments’ has left Italy lagging behind its Euro-based counterparts in the foreign exchange space.

While the forex market in Italy is not as glamorous, some local companies are still dedicated to providing the services. They have to compete with brokerage firms that operate outside the countries, but there is hope.

Each participant in the forex business is backed by a regulatory body known as Commissione Nazionale per le Societa e la Borsa (CONSOB). This body was founded in 1974 and handed the mandate to handle the securities market- a field previously under the Ministry of Treasury in Italy. It is one of Europe’s most influential boards, despite Italy’s position in the global market.

Among other responsibilities, the Italian National Commission for Companies and the Stock Exchange was issued with the authority to oversee:

  • Market information disbursed by service providers and companies operating with public investments
  • The management of financial tools, markets, and prospective publications
  • The operations of financial service providers to boost transparency
  • Penalties resulting from unfair business practices by financial providers

FBS Free $50 No-Deposit Bonus ForexDespite its harsh stance, particularly on binary options, CONSOB is seen as extremely investor-friendly. This can be seen through its recent warnings about four unregulated players that had plans to set up shop in the country. Perhaps that explains why interest in Italian forex is slowly but surely resuming in the country.

The fact that forex and business, in general, are suffering in Italy does not mean that there aren’t any willing brokers. Those invested in forex opt to deal with brokerage firms operating in other countries. However, due to some slight shifts from the Italian regulatory body, brokerage firms are looking at Italy as a more viable market. That leaves investors with the Herculean task of choosing a trustworthy forex broker from a wide field.

Top Regulated Forex Brokers 2022

BrokerInfoBonusOpen Account
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), CySEC
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win.Visit Broker
new logo FBS Markets inc Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit BonusVisit Broker
xm best forex broker Min Deposit: $5
Spread: From 0 Pips
Leverage: 888:1 “*This leverage does not apply to all the entities of XM group.”
Regulation: ASIC, CySEC, IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program Bonus “*Clients registered under the EU regulated entity of the Group are not eligible for the bonus and the Loyalty Program”Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account DepositVisit Broker Gain Capital review USA Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 400:1
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FXOpen ECN Broker Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
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Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
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OANDA Logo USA Min Deposit: no minimum deposit
Spread: 1.2 pips
Leverage: 50:1
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etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
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City Index forex broker Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
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The following tips should help you feel safer during your forex broker evaluation:

1. Trading platforms

For Italian investors, there are 2 options to choose from when it comes to picking a broker based on the platform. If the investor opts for a local broker, they have to settle for locally tailor-made custom platforms that cater primarily to the Italian market. However, offshore brokerage entities operate using popular platforms. A legitimate brokerage firm should provide you with a range of stable trading platform options. One of the most prominent platforms is the Metatrader 4. Others include FXTM and SiriX. A reliable trading platform should also have these added benefits:

  • Responsive interface- This is to safeguard mistiming or misfires when making trades
  • Extra evaluation tools such as charting tools
  • Up-to-date news
  • Multiplatform operability
  • Free demo accounts- This helps entry-level investors to sharpen their trade before going live
  • Seamless funds deposit and withdrawal

2. Account details

Individual brokers have developed accounts that offer different benefits for their traders. These account details should help you settle on a viable broker in Italy.


Leverages are high-risk, high-reward loans provided to investors. Due to the high possibility of loss, these offerings are reserved for experienced traders.


This is how most traders make their profit. Commission-based profits depend on the spread, with traders taking a portion of the spread. Spreads are market-dependent and can vary. Popular currency pairs have narrower spreads and better probability for profit.

Entry deposit

Some accounts have deposit amounts as low as $250 while others will start off at $500. The reason for deposit amounts being as high as $500 could be to gauge the seriousness of traders. However, as most accounts have demo accounts with unlimited time frames, by the time a trader puts in actual money, they have learned enough to invest.

3. Round the clock support

The 4 most active forex exchanges are open almost 24 hours a day.

  • London: 3 AM to 12 PM (noon)
  • New York: 8 AM to 5 PM
  • Singapore: 3 PM to 12 AM (midnight)
  • Tokyo: 7 PM to 4 AM

Such times make additional customer support a vital resource from any broker. In addition to the colliding of trading hours, technology is also bound to suffer delays. This is why technical assistance is required at all times. Having an effective automated customer support line makes it easier to contact a broker in case investors need clarifications.

Customer service can even serve as an extra learning aide if it is human-operated, therefore generating more profit for the brokerage company and the investor. The difference between loss and profit could as well be timely after-sales support.

4. Regulation

Italy’s regulatory body CONSOB is the most important factor to consider when selecting a forex broker. Every broker has to be registered by this body. As one of the most respected bodies in Europe, CONSOB’s major mandate is investor protection. It works closely with the Bank of Italy under 4 key principles:

  • Valuation of the decision-making autonomy of authorized companies
  • Proportionality
  • Recognition of the international character of the financial market and safeguarding of the competitive position of Italian industry
  • Facilitation of innovation and competition

It is also responsible for the investigation, inspection, and mediation of disputes between parties. In a bid to further protect forex investors in Italy, it has teamed up with UK regulatory body, FCA and France’s Banque De France. All the 3 bodies can verify the credentials of brokers purporting to be registered in any of these countries, reducing the chances of falling prey to unscrupulous forex brokers in Italy.

When choosing a forex broker in Italy, you may encounter firms that claim to be registered in other countries. However, you can crosscheck for regulatory compliance by checking with the vast regulatory bodies all over the world.

Italy is a country where you can make it big in your forex trading exploration. All you need is to implement the above tips to avoid disappointments.

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