Binary Options Italy – Learn More About Trading Laws in Italy

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The Best Italian Forex Brokers of 2020

We understand that finding the best forex brokers in Italy isn’t easy, as there are hundreds of sites to choose from. Luckily for you, at TopRatedForexBrokers, we’ve made it easy for you to find your perfect Italian forex broker.

Our forex experts have reviewed hundreds of Italian brokers, to create a complete list of the best places to trade. These sites are all trustworthy and reputable, with competitive fees and a wide range of instruments suitable for every type of trader.

All of our best forex brokers in Italy offer specific benefits to Italian traders too, including offering regulation from either CONSOB or another EEA authority such as CySEC. They’ll also offer excellent customer service in Italian, localized payment methods, competitive spreads on EUR pairs and professional accounts in line with European guidelines.

Use our list to register with the best forex brokers in Italy now, or continue reading to learn more about:

  • The recent history of forex trading in Italy
  • The different types of Italian forex brokers
  • The future of forex in the country

Best and most trusted forex brokers in April 2020

The rules and regulations for Forex Brokers in Italy

The Italian Forex market is one that stands out, and its development hasn’t been very rapid. There are strict laws, regulations and requirements set by the relevant governing bodies. The Italian government actually makes it rather hard for traders by limiting certain trading activities. Forex trading isn’t currently one of those forbidden forms of investment, and should this happen we will make sure our readers are kept informed.
Before Italy joined the European Union, the official currency was the Italian Lira. After joining the Union in 1999, it became one of the first countries to adopt the Euro. Euro banknotes and coins were introduced in 2002, following three transitional years when the Euro only existed as ‘book money’, even though it was the official currency.

CONSOB, otherwise known as the Commissione Nazionale per le Societa e la Borsa, or the Italian Securities and Exchange Commission, is responsible for the regulation of Forex brokers in Italy. CONSOB has always held a firm view with regards to what it sees as a high-risk investment. And this can be seen by their stance on binary options brokers. Currently, it seems that Forex isn’t set to suffer the harsh actions taken against binary options brokers, but who knows what will happen in the future.
There are a number of good Forex brokers in Italy, but the business has not developed as well as in other countries. Many Italian Forex traders prefer to use Forex brokers registered in other countries rather than a broker who is locally based.

Why has forex trading been slow on the uptake in Italy?

The main reason is the introduction of the Euro, which served to push other currencies into the deep recesses of history. When the Lira was Italy’s official currency Italy was a force to be reckoned with, which meant conditions were much better for the development of Forex market business in Italy. Once the Euro was adopted as the official currency it meant that Forex brokers in Italy had to compete against other European markets where conditions were much more favourable.
Recently, the Italian economy had to receive some help from the European Central Bank, in the form of a bailout, which further added to the woes of Forex brokers in Italy. Trade conditions are much better in other European countries and Italy seems unable to compete.
However, this doesn’t mean there aren’t some excellent Forex brokers in Italy. Some companies have decided to stay and weather the storm. A few of these Forex brokers in Italy are locally based companies, but there are also companies which are branches of bigger offshore Forex brokers, who only have a base in Italy.

Different types of Forex broker in Italy

Basically, there are two different types of Forex broker operating in Italy. The first are homegrown Forex brokers. Some are simply a customized brand based Forex broker based on the offerings of a foreign company. While others operate with their own proprietary platform.

The second type of Forex broker in Italy includes branches of other established brands who have chosen to operate in Italy. Most of these brands will already be operating in countries with more favorable conditions for Forex trading such as the UK, Germany, and Cyprus.

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Is the future rosy for the best Forex brokers in Italy?

Many experts are saying that Italy looks set to regain some of its former glory. One reason is because a number of Forex brokers are realizing Italy has a lot to offer. It is likely that the big brand names will enter the Italian Forex market in order to pick up more Italian business. The unfriendly attitude of CONSOB towards binary trading also means that Italian investors can only invest in stocks or Forex, which should make a difference to the number of Italian traders.

Investors will be pleased to know that CONSOB is keeping a close eye on Forex brokers who are operating in Italy. Full investor protection is at the top of their agenda. There is also a new initiative taking place between CONSOB, AMF in France, and the FCA in the UK, which is working to identify unregistered companies operating in either of the three countries. A Forex broker doesn’t have to be based in Italy, in order to advertise its products to the Italian public online. Some less trustworthy brokers are claiming to be licensed in either the UK or France and using the regulators logos, in order to hoodwink unsuspecting traders. The new initiative means they can no longer hide, as traders can inform one of the contributing regulators of the false claims.
We hope you’ve now got enough information to consider a dip in the ocean that is Forex trading. There are plenty of options to try the experience for free, so why not try this option before risking your own hard earned cash?

Regulated Binary Options & Forex Brokers

It is impossible to claim that regulated brokers are better than unregulated ones, but we at Fair Binary Options always recommend trading with regulated brokers. Regulated brokers are brokers who are registered with regulatory body of a certain country or market (for example, US or EU). Find out more about regulation in binary options. Brokers are obligated to follow and respect laws and directions provided by the state. This gives traders additional insurance when it comes to binary options trading, as they can always report scams to the authorities and get more support. Best regulated brokers can be found in the list below.

Regulated or Unregulated broker?

As we already stated if a broker is not regulated, it doesn’t mean it’s a bad broker waiting to scam the traders. The main task of Fair Binary Options is to recommend brokers that respect their clients and their money, whether regulated or not. Our main criteria are the quality of service and customer relations, and unfortunately, there have been cases when regulated brokers behaved unethically, and were blacklisted. Find more about this binary options scam.

Definition of Binary Options

As already stated above, every country or market area has a regulatory body for binary options trading. How they treat and define binary options varies from country to country. Some see them see binary options as financial services, like AMF in France, or betting, like CONSOB in Italy. Definition of binary options in your country of residence is of great importance, as it defines laws and directions that apply as well.

Binary Options Regulation in EU, USA, Australia and New Zealand

There are many regulatory bodies, as almost every country has its own agency. The most important one and the most famous one is CySEC from Cyprus, and most regulated brokers operating in the EU have CySEC license. Many think of it as of pioneer in regulations and best role model in binary options regulating. Another important regulatory body is CFTC, as it regulates US market that has a specific set of rules, quite different from European ones. There are also AMF (France), CONSOB (Italy), IIROC (Canada), FSC (Virgin Islands), ASIC (Australia), FMA (New Zealand), FCA (United Kingdom) and many more. Learn about binary options regulation.

In many countries, binary options are considered a grey area. It can because the government is not sure how to define them or simply because the slow political processes are not informed about the new trends in financial and trading industry and are not aware that binary options even exist. It is important to know that in most countries binary options are not illegal and that they can be traded safely. More about the legality of binary options.

Advantages of Regulated Brokers

As already mentioned, not all regulated brokers are good brokers, but the brokers available on our Regulated Brokers list are worthy of your time and money. One of the best characteristics of regulated brokers is that they must carefully follow regulations of a certain country. Traders who trade with them can, in case any problem occurs, contact not only the customer support but the regulatory body as well, especially if they doubt that their broker is not doing business in an ethical manner.

Transparency & Protection

Regulated brokers offer maximum transparency when it comes to depositing and withdrawing money, and clear and easy understandable terms and conditions. High-security standards for the protection of personal data are provided as well. Trading with a regulated broker from our Regulated Brokers list will lower the chances for any inconveniences. For all traders who are looking a good regulated broker, we suggest trying 24option that won FBO Best Regulated Broker Award 2020.

When it comes to placing complaints with our Regulated Brokers, the entire process is easy and quick, as they are obligated to follow rules provided by their regulatory body, but our strict criteria as well. We placed only the most reliable regulated brokers in our list in order to keep our readers safe. In case, you used our services for registering with the broker and experienced any suspicious behavior, feel free to contact us.

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Markets.com Review and Tutorial 2020

Go to the Brokers List for alternatives

Markets.com Facts & Figures

Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.

Awards
• Runner Up – Best Forex Broker 2020 – DayTrading.com

Trade 5 different cryptocurrencies via Markets.com feature rich platform. Leverage capped at 1:2 for EU traders.

Instruments CFD, Forex, Crypto, Stocks
Demo Account Yes
Min. Deposit $100
Min. Trade $2
Regulated By Safecap regulated by FSB, CySec
MT4 Integration Yes
Mobile Apps iOS, Android
Auto Trading No
Trade Signals No
Islamic Account Yes
CFD
FTSE Spread 1.2 pts
GBPUSD Spread 2 pips
Oil Spread 4 pips
Stocks Spread 0.1% Var
Forex
GBPUSD Spread 2 pips
EURUSD Spread 2 pips
EURGBP Spread 2.5 pips
Assets 50+
Cryptocurrency
Spread BTC 0.85%, ETH 2.95%
Coins BCH, DASH, ETH, LTC, XRP

Markets.com is the brand of online broker, Safecap. Offering trading in Forex, CFDs, Stocks, indices and ETFs. The brand offers a choice of trading platforms and a wide range of instruments while retaining regulation in numerous jurisdictions. This review of Markets.com will cover both the benefits and the drawbacks, including trading fees, mobile apps and demo accounts, before concluding with a final verdict.

Markets.com History

Safecap’s Markets.com came to life in 2006 and became regulated as a forex brand in 2008. In a relatively short space of time, the broker has built a dependable reputation. However, part of their expansion has been helped by a number of high profile trading partners.

The CEO and head office have also worked hard to offer innovative technology and top class customer service. As a result, Markets.com has won a number of prestigious awards, including:

  • Best Broker in Customer Service Europe 2020 (Global Banking & Finance Review)
  • Best Customer Service 2020 (London Investor Show Forex)
  • Forex Provider of the Year 2020 (UK Forex Awards)
  • Best Forex Trading Platform 2020 (UK Forex Awards)

Markets.com has a straightforward corporate structure. The brand is owned and run by SafeCap Investments Limited, who are the broker. SafeCap is then an indirect subsidiary of Playtech PLC which is traded on the London Stock Exchange.

Markets & Instruments

Markets.com delivers a very broad range of assets and markets to be traded:

  • Shares – You have access to over 2000 shares in more than 12 markets, with a maximum leverage of 1:5.
  • Forex – There is free access to over 50 currency pairs, including all majors, minors and exotics. Many of which are available 24/7, while spreads go as low as 2 pips with a leverage of up to 1:30. Leverage varies by asset and regulatory region.
  • Cryptocurrency – You have 12 different crypto pairs to choose from, featuring Bitcoin, Litecoin, Ethereum and Ripple. Maximum leverage is 1:2 for these more volatile markets.
  • Indices – Users have access to over 25 major global indices from 40 countries, with leverage of up to 1:20.
  • ETFs – There are over 1900 assets available with in excess of 30 ETFs to enter trades with. Maximum leverage is 1:10.
  • Commodities – You have access to over 15 commodities and up to 1:10 leverage.

Note Markets.com does not offer spread betting or binary options.

Minimum Initial Deposit

The minimum deposit amount to trade is $100. This is a relatively low minimum deposit, making Markets.com an attractive proposition for new traders with limited capital.

Commissions & Spreads

Markets.com does not charge trading fees or commissions. Instead, everything is covered in the spread. As a result, spreads are relatively high in comparison with competitors. Having said that, some brokers will charge a commission as well.

Leverage

Markets.com does offer leveraged trading. The amount of leverage offered to EU traders was severely limited during the summer of 2020 by the European Securities and Markets Authority (ESMA). Leverage allows traders to open positions with a value in excess of their account balance. This however, does increase the risk and reward in each trade, and as such, the European regulator decided to limit the amount of leverage available to retail traders. Professional traders can still request and arrange higher leverage.

Markets.com also offer negative balance protection, meaning you cannot lose more than your initial deposit. This also means however, that traders must keep a healthy balance in their account, or trades may be closed if prices move against them. Stop losses are another valuable way to manage risk.

Note maximum leverage will depend on your account type and instrument. Cryptocurrencies will generally have low levels of leverage, whereas more liquid and less volatile assets such as popular forex pairs, can see leverage of up to 30:1.

Other Trading Fees

There aren’t too many costs to be aware of when trading with Markets.com. You will have to pay an overnight rollover fee if you’re trading with CFDs. There are also inactivity fees where an account is unused for considerable time – full terms and conditions are on the website.

Markets.com Trading Platforms

Markets.com offers its own proprietary trading platform. Trader feedback is mostly positive. The platform is web-based and easily accessible if you have an internet connection. The user interface is simple and clean, while still offering advanced charting and technical analysis tools. In fact, the platform also comes with a range of technical indicators to enhance chart analysis.

A unique feature of the platform is the trading cubes. This allows you to view numerous instruments at once, helping to streamline the trading process.

On top of a range of forex signals and everything you need for Fibonacci trading or scalping techniques, you also get a real-time news feed. This ensures you can monitor and react to the markets with ease.

The platform has several main sections:

  • The header includes some non-trading functions, such as depositing funds, settings and access to customer support.
  • Under the header, you can alter the view of the main panel via a menu list.
  • The main panel is broken down into three sections: The left side is further divided into two sections. At the top, you can view tradable assets, while the bottom displays your account balance. The middle and largest section displays a chart of the asset you wish to trade. On the right side is your news bar.

Head over to the official website for video tutorials on how it all works and getting the most out of your platform.

MetaTrader 4 & 5

Markets.com users also have the option of the industry standard MetaTrader 5 (MT5) system. The download for MT5 is available for Mac and PC users. Once you have your MetaTrader login details you will have access to a powerful platform that offers advanced charts and in-depth analysis. You also have a long list of custom indicators at your disposal.

On top of that, you get sophisticated real-time trading tools and rapid execution speeds. The MetaTrader system is also easy to set up and there is a wealth of resources online to support you.

Note Markets.com also offer the MetaTrader 4 (MT4) platform on request.

Mobile Apps

Mobile trading app reviews are mostly positive. Firstly, there are apps for Android and iOS users. The app download is quick is and on-boarding takes just a few minutes once you have your mobile login details. You still get access to the diverse product list, allowing you to speculate on everything from oil to penny stocks.

Both iOS and APK apps are also powerful and packed full of charts and technical analysis tools. You also have numerous risk management features, including:

  • Stop loss
  • Take profit
  • Entry limit
  • Entry stop

Overall, the app is good, promising a straightforward transition from the desktop-based applications. However, it’s also worth noting the app doesn’t offer the following tools found on the web platform:

  • There are no alerts
  • You can’t access the news
  • You can’t add indicators to your charts
  • The economic calendar is not available

As a result, those who do a lot of trading from their mobile may want to consider how to replicate those missing elements, if required.

Methods of Payment

Markets.com offer a broad choice of deposit methods and account funding:

  • Major debit & credit cards
  • Bank wire transfer
  • Neteller
  • Skrill
  • PayPal

Note you cannot fund your account with Bitcoin cash.

Withdrawal reviews are also positive as you can use all the same methods. To comply with money laundering laws, withdrawals must first be withdrawn via the same method as the deposit. In addition, there are zero costs for withdrawing funds. However, there are minimum withdrawal requirements:

  • Credit/Debit Card – 10 USD/EUR/GBP
  • Neteller/Skrill – 5 USD/EUR/GBP
  • Wire Transfer – 100 USD/EUR/GBP

Average withdrawal times vary depending on the payment method but are all around the industry norm of within a few business days. Fortunately, this means if the market moves your way and you collect on 80 pips, withdrawing your balance will be quick and easy.

Markets.com Accounts

Part of registration will require choosing between several account options. Thankfully, the account types are straightforward. You have:

  • Real Account – This is the standard live trading account that most users sign up for.
  • Demo Account – The Markets.com practice account is free and available for an unlimited period of time.
  • Swap Free Account – This is an Islamic-friendly account that operates in line with the Islamic Sharia Principle of interest-free trading.

All three account types offer several of the same basic features:

  • Webinars
  • Daily market analysis
  • 24-hour customer support

Demo Account

As mentioned above, Markets.com does offer a free demo account. Funded with simulated money, their practice account is a fantastic opportunity to test drive a platform and explore intraday trading.

Then once you are comfortable with various trading tools and have built an effective strategy, you can open a live trading account. Both demo and live accounts can be open at the same time – this allows for strategies to be trialled and tested alongside real money trading.

Additional Features

Markets.com offers a range of useful additional resources and research materials. Head to the Education section and you can find tips on everything from trading zinc to Bitcoin. Reviews also praise the following services:

  • Market Consensus
  • Trading Central
  • Traders Trends
  • Events & Trade
  • Trending Now

All of the features above can help you learn how to trade, from spotting potential opportunities to conducting in-depth market analysis. Once account verification is complete, you can access most of these tools from within your trading platform.

In addition, there is access to a live news feed. This means instead of leaving the platform and heading for the likes of Bloomberg, you can stay up to date with announcements from within your desktop application.

User reviews of Markets.com did point out, however, that the broker could do more in terms of social trading. There are no chat rooms or forums where traders can exchange ideas and have concepts explained. This is a shame, as such features can be useful, particularly for beginners.

Another area Markets.com falls down in is automated trading. The broker does not have APIs or offer any sort of trading algorithms and EAs.

Regulation & License

With an increase in the number of fake and fraudulent brokers around, finding one you can trust is important. Fortunately, Safecap has regulatory oversight from the Cyprus Securities and Exchange Commission (CySEC). This should put customers from France, Spain and the rest of the Eurozone at ease. Safecap is also regulated by the Financial Services Board (FSB) of South Africa.

As forex reviews demonstrate, their extensive regulation should re-assure users that the Markets.com brand is legitimate and trustworthy.

Benefits

User reviews show Markets.com scores particularly well in several areas, including:

  • Choice – Individuals have a vast range of trading assets and markets available.
  • Platforms – You get a choice of trading platforms, including the proprietary web-based platform.
  • Regulation – Far-reaching regulatory oversight ensures users can trade with confidence from London and Madrid to Gibraltar and Vietnam.
  • Negative balance protection – This useful feature ensures users cannot lose more capital than is in their account. Take Markets.com vs eToro, for example, and you realise the former is one of the limited numbers of brokers that do offer this service.

Drawbacks

There are also some bad Markets.com reviews. Most complaints centre around:

  • No weekend support – Many day traders have to fit their trading around other commitments. But unfortunately, should there be a problem, weekend traders will not have access to any phone support.
  • Complex navigation – Ease of use is one complaint. Navigating across the Markets.com system is unnecessarily fiddly and detracts from the overall user experience. Brands such as AvaTrade and Plus500 may score better here.
  • Accessibility – Markets.com has opened its doors to traders from many countries, including the UK and most nations within the Eurozone. However, you cannot open an account if you are a citizen of the US, Canada, Australia, Belgium, Japan or India. Reviews will continue to improve, however, as the online broker opens its doors to more nations.

Markets.com Trading Hours

Markets.com opening and trading hours are fairly industry standard. For example, all major FX pairs will be available from Sunday 22:05 GMT through until 21:55 Friday GMT.

Note Markets.com will be closed for trading during certain holiday periods. See the official website for a break down of both instrument specific opening times and holiday hours.

Contact & Customer Support

User reviews are quick to praise the extensive customer support on offer. In fact, support is available in over 25 languages, 24/5. You can get in touch via email or live chat. Customer service agents can help you with a whole host of issues, from why your platform’s not working to helping you understand why an order was rejected.

There is also 24/5 phone support for users with funded accounts. Head over to the official website for the telephone number in your location.

In addition, Markets.com offers an extensive support centre and FAQ section where users can find their own answers. There you can find user guides, training videos or even just instructions on how to delete an account.

On top of that, the actual platform itself is available in 15 major languages, including:

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