List of Authorized Brokers by Consob - Best Companies

The Commissione Nazionale per le Società e la Borsa (Consob) is the Italian financial regulatory authority responsible for overseeing the securities market in Italy. It was established in 1974 with the aim of protecting investor interests and ensuring the transparency and integrity of financial markets. One of its key functions is to authorise brokers operating in Italy and ensure they adhere to its strict regulatory standards. When choosing a broker, opting for one authorised by CONSOB is crucial, especially for traders in Italy. In this article, we will look at the list of authorised brokers by Consob, and highlight some of the best companies.

How The CONSOB Works

CONSOB regulates securities markets in Italy, including stock exchanges and trading platforms. It ensures that companies, brokers, and other financial institutions comply with both Italian and European financial laws. One of its primary roles is to protect investors from unfair practices. CONSOB ensures that companies disclose accurate and transparent information, reducing the risk of fraud. To further promote transparency, the CONSOB maintains different lists of the brokers that it authorises. These include:

• Register of Italian Investment Firms (SIMS). - 
• List of investment firms authorised in other EU states with branches in Italy. 
• List of investment firms authorised in other EU states without branches in Italy.

For this review, we are going to mainly focus on the third category of Consob-authorised firms in other EU states without branches in Italy. This includes a list of some well-known companies that may not necessarily have regulations by the CONSOB but are authorised to provide services within its jurisdictions. This is possible because of the European Economic Area (EEA) agreement.

The EEA is a free trade area that allows for the free movement of goods, services, capital, and people between the EU member states 

and three non-EU countries: Iceland, Liechtenstein, and Norway. This means that companies established in one EEA country can offer their services to customers in any other EEA country without having to obtain a separate license or authorisation in each individual country.

Without further ado, let’s have a look at some of the best brokers authorised by the Consob. We will specifically review the brokers’ regulations, collection of market products, trading platforms available, and the spreads involved.

Pepperstone

Pepperstone is a global forex and CFD broker that offers a range of financial instruments. While not directly regulated by the CONSOB, Pepperstone operates in Italy under its European arm (Pepperstone EU Limited), which has regulations from the CySEC in Cyprus. Additionally, it has regulations by other top financial authorities including the FCA, the ASIC, the BaFin in Germany, and the DFSA in the DIFC.

Notably, Pepperstone allows Italian traders to access popular platforms like MetaTrader 4, MetaTrader 5, TradingView, and cTrader, alongside its own Pepperstone Trading Platform. These platforms give Pepperstone some of the fastest order execution times in the market. Additionally, they give traders access to over 1,200 different assets. These include CFDs on forex, indices, commodities, cryptocurrencies, currency indices, ETFs, and shares. 

Further, Pepperstone provides some of the tightest spreads in the market. Its Standard account provides spreads starting from 1.0 pips with no commission fees required. In contrast, the Razor account offers spreads as low as 0.0 pips, with a commission that varies based on the trading platform. The commission for trading on MetaTrader 4, MetaTrader 5, the Pepperstone Trading Platform, and TradingView is $3.50 per side per lot. However, if you use cTrader, the commission is slightly lower at $3 per side per lot.

Finally, Pepperstone offers multilingual customer support, including Italian, ensuring local traders can access help in their language. There is no minimum deposit requirement on this broker site and there are plenty of payment options traders can use. These include credit/debit cards, MPesa, Flutterwave, Neteller, Skrill, PayPal, and bank transfers. 

76.3% of retail CFD accounts lose money

FP Markets

FP Markets is a reputable global online broker that can be added to the list of authorized brokers by Consob. While it might not be directly regulated by Consob, it operates in Italy under its European arm (First Prudential Markets LTD), which is regulated by the CySEC in Cyprus. FP Markets also holds regulatory licenses from the ASIC in Australia, the FSCA in South Africa, and the FSA in Seychelles.

FP Markets offers a wide range of financial instruments totalling over 10,000 individual assets. Investors can trade forex currency pairs, along with CFDs on indices, metals, stocks, commodities, ETFs, cryptocurrencies, and bonds. The ability to diversify a portfolio within a single broker platform is a highly attractive feature. Traders can access platforms like MetaTrader 4, MetaTrader 5, TradingView, Iress, and cTrader.

Positively, FP Markets offers competitive pricing to maximise trading profits. Its Standard account features spreads as low as 1.0 pips on major currency pairs without commissions. For traders seeking even tighter spreads, the Raw account offers spreads starting from 0.0 pips, but with a $3 commission per side per lot.

The minimum deposit to start investing with FP Markets is $100. Italian traders benefit from FP Markets’ Italian-language support and multiple payment options. These include Credit/Debit Cards, Bank Transfers, Neteller, Skrill, PayTrust (Local Bank Transfer), Crypto Payments, and more. 

72.92% of retail CFD accounts lose money

XTB

XTB LTD is a leading online broker under the regulation of the CySEC in Cyprus, allowing it to operate in Italy. It also operates under the supervision and regulation of other top financial authorities including the FCA in the UK and the KNF in Poland.

One of XTB’s standout features is its proprietary xStation 5 trading platform, which is popular for its intuitive design, fast execution speeds, and advanced charting tools. This platform allows investors to access a variety of market products including CFDs on forex, commodities, cryptocurrencies, indices, equities, and ETFs. 

XTB is also attractive due to its tight spreads. They start from as low as 0.5 pips for major currency pairs with no commission on the standard account. On the Swap Free account, the spreads start slightly higher at 0.7 pips with no commission.

Notably, XTB does not have a minimum deposit requirement. This means that traders can start investing with whatever amount they want. The broker offers multilingual customer support, including Italian, and has a user-friendly website. There are a variety of payment options to use including Credit and Debit cards, Paysafe, Neteller, Skrill, Safety Pay, and Bank Transfers.

74-76% of retail investor accounts lose money when trading CFDs with this provider.

XM

XM is a globally recognised broker offering forex and CFD trading with a strong reputation for customer-centric services. Notably, XM is also not regulated directly by the Consob. However, XM operates in Italy under its European branch (Trading Point of Financial Instruments LTD), which is authorised and regulated by the CySEC in Cyprus. This allows the broker to serve Italian traders under the framework of EU regulations. It also holds regulatory licenses from the ASIC in Australia and the FSC in Belize.

XM offers a wide range of trading instruments, including CFDs on forex, stocks, indices, cryptocurrencies, precious metals, and energies. In total, there are over 1,000 market products, allowing investors to greatly diversify their portfolios as they see fit. To trade these market products, XM provides access to MetaTrader 4 and MetaTrader 5, two of the most popular platforms for forex and CFD trading. 

The broker also offers competitive spreads across its various accounts. The Standard and Micro accounts offer spreads starting from 1.0 pips on major currency pairs, with no commission fees. The XM Ultra Low account features even tighter spreads, beginning at 0.6 pips, also without commissions. For the Shares account, a commission applies based on the specific share and trade volume.

XM is especially well-regarded for its low minimum deposit of just $5, making it accessible to novice traders. In addition, XM provides negative balance protection, which ensures that traders do not lose more than their initial deposit. Some of the payment options traders can use include Wire Transfers, Skrill, Neteller, Credit and Debit cards, and PayPal. The availability of Italian-language customer support further enhances the trading experience for local traders in Italy.

74.12% of retail investor accounts lose money when trading CFDs with this provider.

Tickmill

Tickmill is another popular broker with regulations from the CySEC in Cyprus (Tickmill Europe LTD), allowing it to operate in Italy. It also holds regulatory licenses from the FCA in the UK, the ASIC in Australia, and the FSA in the Seychelles. Tickmill offers a diverse range of trading instruments, including forex, stock indices, metals, bonds, commodities, and cryptocurrencies. Favourably, this broker offers investors competitively low spreads when trading these market instruments.

There are three different accounts that traders can use including the Classic account, Raw account, and Tickmill Trader Raw. The Classic account offers spreads starting from 1.6 pips on major currency pairs with no commission. The Raw account provides lower spreads from 0.0 pips on major pairs, with a small commission of $3 per lot per side. Similarly, the Tickmill Trader Raw account offers spreads starting from 0.0 pips, with a commission of $3.5 per lot per side. The trading platforms available to use include MetaTrader 4, MetaTrader 5, TradingView and Tickmill Trader.

Tickmill requires a minimum deposit of $100, and traders can fund their accounts using various payment options. These include bank transfers, credit/debit cards, Neteller, SticPay, FasaPay, and Skrill, among others. Italian-language support is also available, providing local traders with assistance when needed.

72% of retail investor accounts lose money when trading CFDs with this provider.

HFM

HF Markets (HF Markets Europe LTD) is a leading online broker that operates under the regulation of CySEC in Cyprus, allowing it to provide services in Italy. The CySEC is one of the top regulators in the world with stringent rules. On top of the CySEC’s regulation, HFM is also under the regulation of the FCA in the UK, the DFSA in the DIFC, and the FSCA in South Africa, among others.

HF Markets offers a variety of account types which determine the spreads that traders pay. These include the Premium, Cent, Zero, Top-up Bonus, Pro, and Pro Plus accounts. The spreads vary depending on the chosen account. The Premium and Cent accounts have spreads starting at 1.2 pips on major currency pairs, while the Top-up Bonus account has spreads starting at 1.4 pips. The Pro account offers spreads as low as 0.5 pips, and the Pro Plus account offers spreads as low as 0.2 pips on major currency pairings. None of these accounts charge commissions for forex trading. Meanwhile, the Zero account has spreads as low as 0.0 pips but requires a small commission of $3 per side for every lot.

On another note, HF Markets offers a wide range of trading instruments. These include over 1,000 CFDs on forex, energy, stocks, metals, commodities, cryptocurrencies, indices, bonds, and ETFs. To trade these market products, the broker provides three main trading platforms including MetaTrader 4, MetaTrader 5, and its own HFM Platform. 

Interestingly, HFM has a no-minimum deposit requirement for most of its accounts. HF Markets also provides Italian-language support and multiple payment options including Wire Transfers, Credit and Debit Cards, PayRedeem, Neteller, Skrill, FasaPay, and Cryptocurrencies. 

IG Group

IG Group operates in Italy under its German branch (IG Europe GmbH) which is under the regulation of the BaFin in Germany. Although it is not directly regulated by the CONSOB, it has permission to offer its services in Italy due to European financial agreements. Elsewhere, IG Group holds regulatory licenses from the FCA, the ASIC, and the FSCA, among others.

IG Group provides access to a wide range of market instruments totalling over 17,000 assets. Specifically, this broker allows its clients to trade CFDs on shares, forex, indices, commodities, and ETFs. Traders using this broker site benefit from the popular MetaTrader 4 alongside L2 Dealer and ProRealTime.

IG's spreads are very competitive, with some major currency pairs having spreads from just 0.6 pips without any additional commissions. This makes IG a good choice for many Italian traders. The minimum deposit on this broker site depends on the payment option a trader is using. For example, credit/debit cards have a minimum deposit of $50. There are various deposit methods available, such as bank transfers, and e-wallets like PayPal. The customer support is multilingual, including Italian.

74% of retail investor accounts lose money when trading CFDs with this provider.

Final Comments

Choosing the right broker is crucial for successful trading. When trading in Italy, opting for a CONSOB-authorized broker ensures a high level of security, transparency, and investor protection. While many top brokers may not be directly regulated by CONSOB, they operate within Italy with authorisation from the local regulator. Moreover, they have stellar regulations from other top financial organisations in Europe and around the world. This article has highlighted several leading brokers operating in Italy. Each broker offers unique features, trading platforms, and pricing structures, catering to different trading styles and preferences. 

It is essential to conduct thorough research and consider your individual circumstances before making any investment decisions. While every effort has been made to ensure the accuracy of the information, trading in financial markets carries a high level of risk and may not be suitable for all investors. Moreover, information contained in this article may be subject to change over time.