5 Best Online Forex Brokers in Italy – In Depth Review 2024

Want to jump straight to the answer? The best forex broker for traders is Avatrade

The #1 Forex Trading Course is Asia Forex Mentor

Trading forex is perhaps one of the easiest and the best ways to get exposure into the financial market. The forex market is also huge, with a daily capitalization of trillions of dollars. It is also accessible for global investors, meaning that anyone and everyone can trade forex wherever they are.

Despite this, you will need a top-quality brokerage firm to be able to take advantage of this vast currency market. Well, in case you are a forex trader in Italy, then you are in luck because there is a huge variety of forex brokers who happen to be regulated by top-tier bodies, including the Financial Conduct Authority and others.

But it can also be quite hard to decide which broker to use for Italian forex. Well, do not worry because our team has done extensive research on some of the best forex brokers in Italy and came up with a list of 5 of the very best. Keep reading below and learn more.

Best Online Forex Brokers in Italy

5 Best Online Forex Brokers in Italy

Before we head over to the in-depth review of the best forex brokers for Italian investors, we must give you a disclaimer. Forex CFDs are complex trading instruments and a significant percentage of retail investor accounts lose money when trading CFDs. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money rapidly.

#1. Best Advanced for Non-US Traders: Avatrade

AvaTrade is one of the most recognizable forex trading brokers out there. The firm is regulated in 7 tier 1 jurisdictions, meaning that it’s safe and reliable. In fact, AvaTrade is regulated by the Cyprus Securities and exchange commission, The Seychelles Financial Services Authority, ASIC, and a host of other tier-1 regulators, including those in Italy.

In addition to this, the firm offers a wide range of powerful trading platforms for the average forex traders and the ones with vast trading experience. AvaTrade also has its own proprietary trading software that feels easy to use and quite straightforward as well. You also get a chance to open a demo account and hone your skills in Italian forex before jumping into real currency pairs.

AvaTrade has also done well to offer a great variety of asset classes to invest in. At the time of writing this review, the platform had over 1200 investable assets, including commodities, indices, and so much more. You will also enjoy state-of-the-art customer support, some of the lowest trading fees, fast trade execution, and superior trading technology as well.

How does it work?

Before you start trading forex with AvaTrade, please be aware of the possible risks. CFDs in particular are very complex and your capital is at risk if you don’t know what you are doing. Nonetheless, getting started with AvaTrade is actually not that hard. The first step is to sign up for trading accounts.

It would be best to start with a demo account and then upgrade to live trading accounts when you are ready. Some personal info will be needed before the account is approved including simple KYC questions and questions about your trading experience.

Once the account is active, you can go ahead and add some money. The min deposit at AvaTrade is $100 but you can deposit more depending on your trading needs. Once the deposit is reflected in your trading accounts, you can choose a trading platform and start investing in currency pairs and other asset classes on this platform.

Pros

• AvaTrade is regulated in 7 tier one jurisdictions
• One of the most recognizable brands in the forex trading world
• Offers a wide variety of trading platforms with superior tech and advanced trading tools
• Reliable customer support team
• Some of the lowest trading fees of any forex broker out there

Cons

• There is a minimum deposit of USD 100
• Very high inactivity fees

Price

As with many forex brokers these days, AvaTrade offers commission-free trading on currency pairs and other assets including stocks. Now, this of course does not mean you won’t be charged for trading. The bid/ask spread structure is often employed in determining payable fees.

The good news is that AvaTrade has some of the tightest spreads. For example, in the EUR/USD pair, spreads start from as low as 0.9 pips. For large volume traders with professional trading accounts, the spreads are even lower. Based on this, it is clear that AvaTrade fees are well in line with other competitors like Interactive Brokers and others.

#2. Best Intermediate for Non-US Traders: FXCC

If you are looking for the best forex brokers when it comes to trade execution and speed, then FXCC has to be your first choice. The broker also comes with easy-to-use trading platforms, making it a great choice for intermediate forex traders. You also get very low fees with spreads starting from as low as o.1 pips.

FXCC also has a superb variety of tradable assets including metals, commodities, currency pairs, and stocks. As for folks who would love to trade with leverage, FXCC offers 1:300, one of the highest in the industry. There is also a dedicated team of customer support reps standing by to help you with anything and in-depth educational materials to help you get started with trading forex.

FXCC is also regulated by tier 1 bodies in various jurisdictions, including the Cyprus Securities and Exchange Commission Cysec and ASIC in Australia. For these reasons, the broker makes it to the list of the best firms to work with in forex trading.

How Does it Work

In case you would love to use FXCC to buy and sell a wide range of assets, then you need to head over to their website and create an account. Only a small amount of personal info is needed here. You can also sign up with Facebook or Google if you so wish. FXCC will also ask you a few questions about your trading experience before they hand you an account.

Once this is done, your account will be screened and verified based on the documents you provide. You can now start trading forex and other assets. Please note that the min deposit at FXCC is $100. You also get a various deposit and withdrawal options in Italy for some added flexibility. Once your deposit is in, choose a trading platform and start investing.

Pros

• The broker is regulated by top agencies including CYSEC, ASIC, and others
• Offers the lowest spreads, starting from as low as o.1 pips
• Advanced trading platform with superb trading tools for fast execution
• A wide variety of deposit and withdrawal options
• Top-rated customer support reps

Cons

• A min deposit of $100 is required before you start trading
• Only has one trading platform
• Closed for US traders

Pricing

FXCC offers some of the lowest trading fees of any forex broker. There are even some trading accounts that come with commissions free trading on several supported assets. FXCC offers low spreads too, starting from as low as 0.1 pips depending on trade volume, liquidity, and type of asset.

The EUR/USD currency pair is the most liquid and has massive trade volumes. Here, you are likely to pay close to zero fees. The fees charged by the broker are below the industry average, making it a great choice for high-volume active traders.

#3. Best Overall Broker: Forex.com

Forex.com is a big-name brand in forex trading. It targets traders all over the world and comes with some of the most advanced trading platforms, including the popular MetaTrader 4 and MT5. The broker also allows you to trade with leverage although you will get a risk warning.

It is also regulated by some of the leading tier one agencies including ASIC in Australia, the Financial Conduct Authority, and others. There are 4500 tradable assets on Forex.com including currency pairs, stocks, CFDs, commodities, precious metals, and so many others. Forex.com has also done well to offer low fixed commissions, tight spreads, and superb customer support for its traders.

The broker has comprehensive educational materials to help you get started with forex and a copy trading feature that allows for profitable social trading. Risk management tools and advanced technologies are also included in the trading platform to give all traders the best trading experience possible.

How does it work?

Getting started with Forex.com is so easy. The first thing to do, as with all the brokers on the list of the best firms, is to open a trading account. You will need to key in some personal info and upload identity and address verification documents. It takes about 24 hours for these documents to get verified.

Once this happens, you can now head over to the deposit section and add some money into your trading account. Deposits can take up to 3 business days to reflect in the account. It all depends on the deposit method you have chosen. After that, go ahead and choose the trading platform you need to trade CFDs and other assets.

You can also set the min leverage you want and take advantage of the in-depth research provided by Forex.com on various assets. In case you have any issues, contact customer service in Italian. Please also note that the min deposit here is USD 100.

Pros

• The broker is regulated by the top tier Italian agencies and others including ASIC and the FCA
• Offers tight spreads on currency pairs and very low fixed commissions
• You get a variety of high-quality trading platforms to choose from
• Among the most recognizable brands in forex right now
• Offers extensive educational materials for traders
• Excellent leverage for CFDs and other assets

Cons

• The min deposit of USD 100 may be off-putting for low ticket investors
• Customer support needs to improve a bit
• Very high inactivity fees

Price

Forex.com charges both fixed commissions and spread-based fees depending on the account you are using. So, if you choose a commission-based account, you will pay a flat fee of USD 5 per standard lot, which is around 100K. You will also incur spread costs even if there is a fixed commission on the trade.

For instance, let’s say you decide to purchase 200, 000 EUR/USD with a maximum spread of around 0.2 pips. The flat commission charged here will be $10. However, the 0.2 spread will attract an additional fee of $2 per trade. This will translate to about USD 12 in fees. The trade volume is what determines how much you pay but even then, the fees at Forex.com are competitive compared to other brokers.

#4. Best International Forex/CFD Traders: eToro

For the cryptocurrency investors in the United States, eToro has a graphics-intensive web platform. At the same time, the clients who are not in Italy are advised to trade contracts and stocks for the difference. A key feature of such a special proprietary platform is that the client can easily implement copy trading.

The main point of your experience with eToro is the ease it provides to complete tasks and carry out basic operations. The more instruments include searching the market available, making watchlists, and directly placing trades from the watchlist.

How does it work?

EToro platform features investors who like to follow risk-control rules and want to be duplicated. The retail account holders are accessible to mimic trading strategies and trades of many successful customers in real-time and automatically.

Note that the copy trading in and itself does not hold a guarantee of losses or gains. This platform is a little pricier concerning its competitors for trading Forex and CFDs. Although the recent introduction of zero-dollars commission and cutting spread for the Italian trading stock is beneficial.

All the investors on the eToro are trading manually. EToro does not permit completely trading systems like those supported by M.T. Thus, when you copy trade the eToro, it is guaranteed that every placed trade is manual.

Pros

• 15 cryptocurrencies options
• Easy-to-use website
• Great community for traders

Cons

• Broad Spreads for trading cryptocurrencies
• $25 minimum deposit

Price

The clients in Italy who trade cryptocurrencies have to pay 0.75 percent to 5.0 percent; this depends upon which currency you trade. In contrast, customers out of Italy don’t have to pay any commission to close or open a long position. Small sales invite 0.18 percent commission of the trade value.

Italian clients are not charged for withdrawal of funds, except you are supposed to have a minimum withdrawal of 30 dollars. The withdrawal fee for non-Italian customers is 5 dollars.

#5. Best Forex Trading: HYCM

Although HYCM is not really among the most popular broker firms in the world, it is still a solid choice for Italian traders. First, the broker is regulated by two tier-1 regulators including ASIC in Australia and others. There are also two other tier-2 regulators in the mix. This gives HYCM a relatively safe ranking.

In addition to this, HYCM is among the oldest firms in the world. It was founded in 1977. You also get a wide variety of trading platforms to trade CFDs including its own proprietary trading software and the popular MetaTrader 4 and MT5 accounts.

There are also numerous trading instruments in fact, at the time of writing this review, the firm had over 350 assets to buy and sell. You also get low fees, fast trade execution, excellent leverage, and reliable customer support.

How does it work?

There are about three simple steps to follow for any Italian trader who wants to use HYCM. First, you may want to head over to the main HYCM website and click to sign up. You will need to fill in some details about yourself and upload some verification documents as well.

It takes less than a day to have the account approved. The next thing is to deposit some cash for trading. HYCM has a min deposit of $100. As soon as the deposit is reflected in your account, you can now start trading.

Pros

• Regulated by some of the leading tier 1 agencies in the world
• Among the oldest forex brokers in the world with a history of credibility in the forex market
• Offers a good variety of trading platforms for any trader
• You get easy account opening and verification

Cons

• Min deposit of USD 100 is needed to start trading
• Very high inactivity fees

Price

HYCM offers a spread-based commission system but how much you pay actually depends on the type of trading account you have. there are three account types here for Italian forex traders. They include the Fixed account, the classic account, and the Raw account. For the Fixed account and the classic account, spreads start from two pips, which is relatively higher compared to other brokers on the list.

However, in case you want a bit more of a competitive price range, then you must use the Raw account. In this account, spreads start from 0.7 pips, among the tightest rates in the market. However, you may pay a fixed commission on the Raw account depending on your trading volume. Fixed commissions start from USD 4 per round turn.

How we rank the Best Online Forex Brokers in Italy?

Our ranking of the best Italian forex trading brokers was based on several key factors. However, the team focused on 4 main ones. First, we looked at the trading fees associated with each broker. The firms that offered Italian forex traders the lowest fees while making sure they get a good trading experience were ranked higher.

The nature of the trading platform was also a huge consideration in this review. In fact, the team wanted to include firms that only offer tech superior trading platforms with fast trade execution and state-of-the-art trading tools. However, we also wanted to ensure that these tools were not too complicated and that an average trader could easily use them without too much hassle.

In addition, safety was also a key concern. The aim was to look at brokers that are regulated by some of the leading agencies out there including ASIC in Australia and the Financial Conduct Authority. Regulated firms are considered safer and less risky to trade with. Finally, the team also assessed the overall trading experience. This included looking at the nature of customer support and how reliable it is, analyzing deposit requirements, and looking to see the kind of trading leverage offered by the broker. All the five brokers in Italy in the list above met these high standards.

How to choose the Best Online Forex Brokers in Italy?

Different people have different priorities when choosing Italian forex brokers. But there are also some general factors that must always be considered before you sign up with a broker. First, regulation is everything. A forex broker in Italy that is fully regulated by the top-tier bodies will always be safe to use for an Italian trader out there.

Secondly, check the fees. These days the forex market is filled with small ticket retail investors who take advantage of small price movements in currency pairs to return a profit. They don’t need high fees to eat into their margins. The lower the fees the better. Finally, trade execution is also very crucial and this can only be guaranteed through the best trading platforms out there.

So, before you sign up with a broker, test out the trading platform using a demo trading account, including the Metatrader 4 and others. The best forex brokers in Italy will always have state-of-the-art platforms for you. You may also need to look at customer support, the min deposit requirements, and educational materials.

Choose Asia Forex Mentor for Your Forex and Stocks Trading Success

If you have a keen interest in establishing a successful career in forex trading and aspire to achieve substantial financial gains, Asia Forex Mentor stands as the optimal choice for the best forex, stock, and crypto trading course. Ezekiel Chew, renowned as the visionary behind trading institutions and banks, is the driving force behind Asia Forex Mentor. On a personal note, Ezekiel consistently achieves seven-figure trades, a distinction that truly sets him apart from other educators in the field. Here are the compelling reasons that underpin our recommendation:

Comprehensive Curriculum: Asia Forex Mentor offers an all-encompassing educational program that covers stock, crypto, and forex trading. This well-structured curriculum equips aspiring traders with the knowledge and skills necessary to excel in these diverse markets.

Proven Track Record: The credibility of Asia Forex Mentor is firmly established through its impressive track record of producing consistently profitable traders across various market sectors. This achievement serves as a testament to the effectiveness of their training methodologies and mentorship.

Expert Mentors: At Asia Forex Mentor, students benefit from the guidance and insights of experienced mentors who have demonstrated remarkable success in stock, crypto, and forex trading. These mentors provide personalized support, enabling students to navigate the intricacies of each market with confidence.

Supportive Community: Joining Asia Forex Mentor brings access to a supportive community of like-minded traders pursuing success in the stock, crypto, and forex markets. This community fosters collaboration, idea-sharing, and peer learning, enhancing the overall learning experience.

Emphasis on Discipline and Psychology: Success in trading necessitates a strong mindset and disciplined approach. Asia Forex Mentor provides crucial psychological training to help traders manage emotions, handle stress, and make rational decisions during trading.

Constant Updates and Resources: The financial markets are dynamic, and Asia Forex Mentor ensures that students remain up-to-date with the latest trends, strategies, and market insights. Continuous access to valuable resources keeps traders ahead of the curve.

Success Stories: Asia Forex Mentor takes pride in a multitude of success stories where students have transformed their trading careers and achieved financial independence through their comprehensive forex, stock, and crypto trading education.

In summary, Asia Forex Mentor emerges as the premier choice for those seeking the best forex, stock, and crypto trading course to carve a rewarding career and achieve financial prosperity. Through its comprehensive curriculum, experienced mentors, practical approach, and supportive community, Asia Forex Mentor provides the necessary tools and guidance to mold aspiring traders into accomplished professionals across diverse financial markets.

Conclusion: Best Online Forex Brokers in Italy

Choosing the best forex brokers in Italy can be hard for the average person since there are so many options for Italian traders. However, AvaTrade is a cut above the rest, and for good reasons. First, the brokerage is a big-name brand in the forex market and is available in a lot of countries.

It is also regulated by the best bodies including ASIC, CYSCEC, and the FCA. This makes it safe to use for Italian traders or investors. The low fees charged here will also be a huge draw for active traders looking for value. You also get top-tier trading platforms from this forex broker and superb customer support.

Despite this, there are a few downsides here. First, the min deposit requirements of $100 may not really be ideal for low volume traders. There is also the potential of paying high inactivity fees with this forex broker. But other than that, AvaTrade is among the best forex brokers in Italy with so much to offer Italian investors.

Best Online Forex Brokers in Italy FAQs

Is Forex trading legal in Italy?

Yes, trading forex, binary options, and a wide range of other assets is perfectly legal in Italy. There are of course some regulations that brokers need to meet but they have nothing to do with the trading itself. instead, they are mostly KYC screening measures designed to safeguard the integrity of the market.

What are retail investor accounts?

Retail investor trading accounts are normally individual accounts that are used by people to buy and sell currency pairs and other assets. Most of these trading accounts have a min deposit requirement but some brokers may allow you to open free of charge. They are run by the individual owner and tend to have small-scale investing in general.

Does forex broker lose money?

It is highly unusual for a forex trading platform or broker to lose money. In fact, top-tier brokerages are regulated by the leading government and private agencies in the world. These regulations are put in place to ensure the potential of loss is as low as possible. For this reason, it is highly unlikely that any of these top-tier brokerages will lose money directly.