Best National Commission for Companies and the Stock Exchange (CONSOB) Regulated Brokers 2025
We’ve personally tested and ranked the top brokers regulated by Italy’s National Commission for Companies and the Stock Exchange (CONSOB), ensuring high standards of trust and reliability.
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1Saxo Markets is a renowned trading brokerage, investment firm and bank. It offers over 72,000 trading instruments, investment products, and managed portfolios, ensuring ample opportunities for clients. It operates under the regulation of more than ten agencies including FINMA, FCA & ASIC, thus providing the best protection. The firm is well-known for its transparent pricing.
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Safety Comparison
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Mobile Trading Comparison
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Comparison for Beginners
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Comparison for Advanced Traders
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Accounts Comparison
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Detailed Rating Comparison
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Fee and Cost Comparison
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Broker Popularity
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Broker | Popularity |
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Saxo Bank |
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Why Trade With Saxo Bank?
Saxo is ideal for frequent traders and large-scale investors due to its extraordinary range of tools, high-quality market research, and fee discounts. Moreover, its offering of 190 currency pairs with narrow spreads makes it suitable for forex traders.
Pros
- A top-tier research center providing market analysis and unique insights, including 'Outrageous Predictions' for traders.
- You can use thorough analysis tools like TradingView and Updata for trading.
- High-quality learning materials like podcasts, webinars, and expert videos are available for traders.
Cons
- Do not accept clients from certain regions, specifically the US and Belgium, for trading activities.
- The trading accounts require substantial funding.
- To view Level 2 pricing, a subscription is necessary.
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Understanding Regulation of Brokers in Italy
In Italy, the financial markets are governed by the National Commission for Companies and the Stock Exchange, more commonly known as CONSOB. This organization ensures that financial companies follow the rules and punishes those that do not. CONSOB, along with the European Securities and Markets Association (ESMA), makes these rules.
CONSOB is recognized as a reliable regulator. This means that traders in Italy can trust they are protected from fraudulent activities. If you are interested in trading, you should check out brokers that are regulated by CONSOB. We’ve verified that these brokers are listed on CONSOB’s Register of Investment Firms.
Methodology
To find the best brokers regulated by CONSOB, we:
- Reviewed our list of brokers claiming to be regulated by CONSOB.
- Confirmed their regulation status using CONSOB’s online database.
- Ranked them based on expert reviews and over 100 data points.
How to Verify a Broker’s CONSOB Regulation
CONSOB has a Register of Investment Firms that lists financial firms allowed to operate in Italy. Firms are categorized by location and whether they have branches in the country.
CONSOB keeps an updated warning list of companies that have broken the law and offers a searchable archive for traders. However, finding brokers can require some investigation, as CONSOB doesn’t offer a simple search tool.
For example, to verify FXCM’s authorization to operate in Italy, I searched CONSOB’s Register of Investment Firms and found the company listed as ‘Stratos Europe Limited’. This document confirmed its services and address.
Traders in Italy can also use brokers registered in other European Economic Area (EEA) countries. This is possible thanks to ‘passporting,’ a process that allows the free movement of services within EU and EFTA countries.
Rules for CONSOB-Regulated Brokers
To operate legally, brokers in Italy must comply with strict regulations set by CONSOB and ESMA. These rules are largely influenced by a framework called MiFID II, which aims to ensure transparency and protection for traders.
Under MiFID II, brokers must:
- Work to get the best results for clients, considering costs, speed, and execution likelihood.
- Clearly explain product risks and not mislead customers with advertising.
- Limit leverage to 1:30 for major forex pairs and 1:20 for others.
- Offer protection to prevent clients from owing money on leveraged products.
- Close a trader’s positions if account value drops below 50% of required margin.
- Use separate accounts to protect customer funds if the firm fails.
- Separate charges for research and transactions for better price transparency.
- Provide detailed trading data to help regulators prevent market manipulation.
CONSOB actively monitors and issues warnings against unauthorized trading websites. Since 2019, it has blocked over 1,110 such sites.
Bottom Line
It is crucial to ensure your chosen broker is authorized to operate, no matter where you are trading. In Italy, traders can feel secure knowing that CONSOB-approved brokers provide a layer of protection. However, be cautious of fraudulent activities and remember that trading is risky. Always trade responsibly and never risk money you can’t afford to lose.