Forex Brokers in Italy
Despite the size and the potential of the Italian Forex market, the scene for local operators is rather sleepy, due in no small part to the economic woes the country is currently experiencing and to the lack of overall competitiveness ushered in by the rise of the single currency. These days, it is not exactly a secret that Italy didn’t really benefit much from the introduction of the Euro. As a PIIGS member, the country is still not out of the economic dire straits it has been stuck in for the last few years, and its prospects in this regard are rather bleak too.
With the above in mind, it’s easy to see why not many Forex companies feel like setting up physical shop in Italy these days. Obviously, Fx trading is quite popular in the country, but most Italian traders prefer to make use of the services of forex brokers located and licensed in other EU countries, leaving the local regulator, CONSOB (Commissione Nazionale per le Societa e la Borsa), with not much to regulate.
CONSOB is indeed one of the higher-profile European regulators, well known for the firm stand it has taken against single market-maker based binary option trading. CONSOB’s directives in regards to Fx trading are much more lenient though, and it is indeed well possible for an operator to obtain an Italian license which allows it to offer financial services all over the EU. The reality of the situation is that the Italian Forex market has been underserved for a while, and thus, for some brokers, it may yet prove attractive.
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