10 Best Forex Brokers for Italian Traders with EUR-Only Accounts

In this post finding the Best Forex Brokers for Italian Traders with EUR-Only Accounts with EUR-only accounts isn’t just convenience; it’s an advantage. With EUR accounts, forex brokers eliminate account-based conversion fees, simplify tax reporting to local authorities (CONSOB and ESMA), and streamline local payments through SEPA.

Brokers such as Saxo Bank, Pepperstone, Fusion Markets, and ActivTrades offer EU-compliant and fully regulated platforms that Bank ITalian traders the ability to stay within the Eurozone’s strict regulatory borders, manage their risk, and trade efficiently in the global forex markets.

Why EUR-Only Accounts Matter for Italian Traders?

Make the Most of Your Money

Italian traders can make the most of their capital by avoiding fees related to currency conversions. Brokers charge anywhere from 0.3%-1% of the transaction for each currency conversion. Traders can save money by doing more deposits, withdrawals, and trading with an account in EUR.

Less Complicated Accounting

Traders can make their accounting significantly less complicated by keeping their account balances in EUR. They won’t need to make calculations to re-factor any swing trades due to differing currency values which saves time on the multi-trader capital gains and trade summaries.

A Shield From Unwanted Risk

The euro is one of the most stable currencies in the world and is used in more than 30% of the world’s FX transactions. By using the euro as the base, Italian traders do not have the unwanted risk of fluctuating currencies in the world like the dollar and the pound.

Reduced Time for Transactions

Cross currency payments can take from 2 to 5 business days, whereas SEPA Payments in EUR can take only one business day. Being able to transfer money reasonably fast can make managing liquidity and withdrawals much more efficient.

Increased Compliance with Regulations

Keeping EUR accounts helps Italian traders comply with financial and trading laws from the EU more easily. It helps with funding, transparency of the accounts, segregating the funds, and protecting the investors.

Less Costly Trading

Trading accounts in single-currency helps to eliminate multi-currency spreads. This helps traders with managing their costs much better. Predictable costs and easier calculations for risk and position sizing can help Italian traders a lot.

Local Banking Integration

Establishing direct EUR connections with Italian banks streamlines transfers and strengthens operational trust. This will lead to fewer rejections and more engagement from Italian traders in the Long term with higher volumes.

Key Point

Broker	Key Features
Saxo Bank	Banking license, institutional-grade platform, wide range of instruments
Pepperstone	Low-cost spreads, strong tech, copy trading, trusted by 400k+ traders
Fusion Markets	Ultra-low fees, no deposit charges, Fusion+ copy trading
Global Prime	Transparent execution, institutional liquidity, strong governance
FxPro	MT4/MT5/cTrader, no dealing desk, 2,100+ instruments
XM Group	15M+ clients, fast execution, multilingual support, 1,400+ assets
eToro	Leading social/copy trading platform, stocks + crypto access
IG	LSE-listed, 17,000+ markets, proprietary platform + MT4
Plus500	User-friendly proprietary platform, 2,800+ CFDs, FTSE 250 listed
ActivTrades	Strong fund protection (insured up to $1M), MT4/MT5 + TradingVi

1. Saxo Bank

Saxo Bank was founded in 1992 in Denmark. It’s a licensed investment bank, and it’s regulated by the FCA (UK), FSA (Denmark), ASIC (Australia), FINMA (Switzerland), and the MAS (Singapore). There are minimum deposits, which vary by account type, starting at approximately €500.

There are also spreads, starting at 0.4 pips, and leverage of 1:200. The advanced platforms offered by Saxo are highly recommended. It also has a liquid and diverse range of instruments.

Of the top tier brokers, Saxo Bank stands out as having strong regulations in the EU and offers EUR-denominated instruments as a forex broker

Saxo Bank – Key Features

• Established in 1992, Denmark
• Investment banking and multi jurisdictional licenses (FCA, FSA, ASIC, FINMA, MAS)
• Use of advanced platforms SaxoTraderGO & SaxoTraderPRO
• Use of multiple Forex, Stocks, ETFs, Commodities, Bonds, Futures, and Cryptos
• 0.4 pips and 1:200
• Institutional Grade Liquidity and Bank Grade Security

Saxo Bank Pros & Cons

Pros:

• Licensed investment banks with robust international regulations (FCA, FSA, ASIC, FINMA, MAS)
• Developed own trading platforms (SaxoTraderGO and SaxoTraderPRO)
• Wide variety of investment instruments (forex, stocks, ETFs, bonds, futures crypto)
• Banking-grade security to protect funds

Cons:

• High minimum deposit (about €500+) in comparison to competitors
• Complex trading platform which may intimidate some new traders
• Compared to ECN brokers, their trading spreads can be better

2. Pepperstone

Pepperstone is a broker that started operating in 2010 and is regulated in Australia (ASIC), the UK (FCA), Dubai (DFSA), and Germany (BaFin). It has no required initial deposit, offers raw spread (starting from 0.0 pips), and allows leverage of 1:500. It also has support for algorithmic and copy trading on MT4, MT5, cTrader, and TradingView.

Pepperstone is a low-cost broker with great transparency, and it is estimated that more than 400,000 traders trust the company. Due to its fast execution, low costs, and EU-regulated EUR account support, Pepperstone is for Italian traders with EUR-only accounts one of the best forex brokers.

Pepperstone – Key Features

• Established in 2010, Australia
• Active regulation ** by ASIC, FCA , DFSA , BaFin**
• Use of platforms MT4, MT5, cTrader, Trading View
• 0.0 pips, 1:500
• No NDD required
• ** $Fast Execution $Copier**

Pepperstone Pros & Cons

Pros:

• Strong regulatory listing (ASIC, FCA, BaFin, DFSA)
• Trading fees are relatively low and they offer raw spreads from 0.0 pips
• Compatible with MT4, MT5, TradingView, and cTrader
• Quick in trade execution and has great copy trading

Cons:

• No in-house broker. Do not create their own investment platforms
• Small product offering, mainly focused in forex and CFDs
• Leverage is more limited within the EU (retail trading only 1:30)

3. Fusion Markets

In 2017, Fusion Markets started operating with regulation in Australia (ASIC), Vanuatu (VFSC), and Seychelles (FSA). Fusion has no minimum deposit, and offers spreads from 0.0 pips (zero account) along with a leverage ratio of 1:500.

Fusion is primarily recognized for ultra low commissions (2.25 Euro per side), having no deposit fees, and responsive customer support.

The broker allows trading with MT4, MT5, and Fusion+ copy trading. Due to having the lowest trading fees in the market, Fusion Markets has been considered one of the best forex brokers for Italian traders with EUR-only accounts.

Fusion Markets – Key Features

• Established in 2017, Australia
• Active regulation ** by ASIC, VFSC, FSA**
• Use of platforms MT4, MT5, Fusion + copy
• Commission of 2.25 in both sides.
• No NDD, 0 pips
• Trading on a Budget & EUR account

 Fusion Markets Pros & Cons

Pros:

• Very low commissions (€2.25 to open and close every trade)
• Zero minimum deposit, good for beginners
• Has the proper regulatory checks (ASIC, VFSC and FSA)
• Compatible with MT4, MT5 and Fusion+ for copy trading

Cons:

• Relatively new broker (2017) which means their track record is shorter
• Compared to bigger brokers, they have less educational material available
• Not as many products as IM or Saxo

4. Global Prime

Established in 2010 in Sydney, Global Prime is regulated in Australia and Vanuatu (VFSC). It has a minimum deposit requirement of €200, provides raw spreads starting from 0.0 pips, and a maximum leverage of 1:200.

Global Prime has a reputation for genuine ECN execution, institutional liquidity, and transparency reports. It is one of the pioneers in providing MT4 and MT5 platforms with robust governance and strong client-first policies.

Global Prime is, for Italian traders especially, one of the best forex brokers because they offer strictly EUR ECN accounts with raw spreads and unhindered liquidity.

Global Prime – Key Features

• Sydney-based since 2010
• ASIC, VFSC regulated
• MT4, MT5 platforms
• Starting deposit at €200, spreads from 0.0 pips
• 1:200 leverage
• ECN execution with institutional-grade liquidity and trade receipts

 Global Prime Pros & Cons

Pros:

• Real ECN execution with institutional grade liquidity
• Streamlined trade receipts for transparency
• Spread and liquidity from 0.0 pips
• Strong regulation from ASIC

Cons:

• Min Deposit 200€ (more than Fusion/XM)
• More limited geographical reach than IG or eToro
• More limited product offering outside forex

5. FxPro

Having been founded in 2006 in London, FxPro is licensed under FCA (UK), CySEC (Cyprus), FSCA (South Africa), SCB (Bahamas), FSA (Seychelles). The minimum deposit is €100, spreads start from 0.1 pips, and leverage is up to 1:500.

FxPro provides MT4, MT5, cTrader, and TradingView, and has access to more than 2,100 instruments across 8 asset classes. FxPro is best known for NDD (No Dealing Desk) execution and strong global regulation.

FxPro is, for Italian traders with EUR-only accounts, one of the best forex brokers with the offer of multi-platform EUR accounts and extensive instrument availability.

FxPro – Characteristics

• London-based since 2006
• FCA, CySEC, FSCA, SCB, FSA regulated
• MT4, MT5, cTrader, TradingView platforms
• Starting deposit at €100, spreads from 0.1 pips
• 1:500 leverage
• 8 asset classes with 2,100+ instruments

FxPro Pros & Cons

Pros:

• Multi-regulated (FCA, CySEC, FSCA, SCB, FSA)
• Compatible with MT4, MT5, cTrader, TradingView
• Over 2,100 instrument offerings
• Strong execution with no dealing desk

Cons:

• Minimum deposit is 100€ (more than XM’s €5)
• Wider spreads than Fusion/Global Prime
• Platform complexity may make it more confusing for beginners

6. XM Group

In 2009 XM Group opened its doors in Cyprus. They are regulated by CySEC, ASIC, FSCA, DFSA. They have a €5 minimum deposit, spreads start at 0.6 pips, and offer leverage up to 1:1000.

Their clients can use MT4, MT5, and TradingView and they have over 15 million clients globally. They are recognized for multilingual support, quick execution, and 1,400+ assets. They are especially considered a good option for beginner clients.

For Italian clients XM Group is among the best forex brokers as they provide EUR accounts, low entry barriers, and robust EU regulation.

XM Group – Characteristics

• Cyprus-based since 2009
• CySEC, ASIC, FSCA, DFSA regulated
• MT4, MT5, TradingView platforms
• Starting deposit at €5, spreads from 0.6 pips
• 1:1000 leverage
• Supports 15M+ clients globally

 XM Group Pros & Cons

Pros:

• Minimum deposit is very low (€5)
• High leverage up to 1:1000
• Regulated in: CySEC, ASIC, FSCA, DFSA
• 15M+ clients served globally, multilingual support

Cons:

• Spreads starting from 0.6 pips (ECN like pricing not available)
• Proprietary platform is limited to MT4/MT5
• Beginners may find the high leverage risky

7. eToro

eToro began in 2007 in Israel. They are regulated by FCA (UK), CySEC (Cyprus), ASIC (Australia), FinCEN (US). Spreads start at 1 pip, the minimum deposit is €200, and they offer leverage up to 1:400 (pro accounts).

eToro began as a social trading platform (CopyTrader™ and Smart Portfolios) and continues to offer the ability to copy the top traders.

In addition, they have stocks, crypto, ETFs, and forex. For Italian clients eToro is one of the best forex brokers as they allow EUR deposits and have social trading features.

 eToro – Characteristics

• Founding year 2007, based in Israel
• Regulated by FCA, CySEC, ASIC, FinCEN
• Customized proprietary platform with CopyTrader™ & Smart Portfolios
• Starting deposit at €200, spreads from 1 pip
• 1:400 leverage on (Pro accounts)
• Available in forex, stocks, ETFs, crypto, and social trading

eToro Pros & Cons

Pros:

• Most popular social trading platform (CopyTrader™, Smart Portfolios)
• Ability of holding forex, stocks, ETFs, and crypto in a single account
• Regulated by FCA, CySEC, ASIC, FinCEN

Cons

• Higher initial investment required (€200)
• Spread costs start at 1 pip (averagely higher)
• Fewer specialized trading tools for experienced users

8. IG

With more than 45 years of experience in its field, IG received FCA regulations in 1974, in London, and also has regulations from Australia, the US, Germany, Switzerland, and Singapore.

After making a first deposit of 250 euros, traders can expect a spread of 0.6 and a leverage of 1:30, applicable to EU retail clients. IG provides 17,000+ market options, like shares, ETFs, and more. It is also one of the few brokers to offer MT4 along with its proprietary platform.

Italian traders with EURO-only accounts can trust IG as one of the best forex brokers with European accounts. It has top-tier broker security and is listed on the LSE.

IG – Key Features

• Established in 1974, London-based
• Regulation in FCA, ASIC, CFTC, BaFin, FINMA, MAS
• Platforms: MT4 + IG custom-built platform
• Starting investment €250, 0.6 pips spread
• Leverage 1:30 for EU retail clients
• Provides 17,000+ market offers. Listed in London Stock Exchange

IG Pros & Cons

Pros:

• Established in 1974, trusted reputation
• Worldwide regulation (FCA, ASIC, CFTC, BaFin, FINMA, MAS)
• Over 17,000 available assets
• Traded on the London Stock Exchange

Cons:

• Minimum deposit € 250 (more expensive than competition)
• Retail clients in the European region are limited to 1:30 leverage
• Beginner users may find the proprietary platform more complicated than other options

9. Plus500

Plus500 is an Israel-based trading service provider that has been active in the market since 2008. Plus500 offers services in active trading to clients across the FCA (UK), ASIC (Australia), MAS (Singapore), and Cyprus.

The service is user-friendly, and has garnered traction particularly among novice traders. Trading accounts can be opened with an initial balance of €100, enabling clients to benefit from spreads of 0.8 pips, and a leverage of 1:30.

Additionally, for Italian traders with EUR accounts, Plus500 has been recognized among the best forex brokers in the market for providing straightforward trading along with negative balance protection.

Plus500 – Key Features

• Established in 2007, based in Israel
• Regulation in FCA, CySEC, ASIC, MAS
• In-house developed platform + 2,800+ CFDs
• Starting investment €100, 0.8 pips spread
• Leverage 1:30 for EU retail clients
• Customer-friendly interfaces and strong EU regulations

 Plus500 Pros & Cons

Pros:

• Easy to use in-house developed platform
• Licensed by the FCA, CySEC, ASIC, MAS
• Over 2,800 CFDs available
• Minimum deposit of €100

Cons:

• No MT4/MT5 compatibility (platform offering is limited)
• Spread costs start at 0.8 pips (averagely higher)
• Minimal premium trading tools

10. ActivTrades

Established in 2001 in London, ActivTrades has regulations from FCA (UK), CSSF (Luxembourg), SCB (Bahamas), CONSOB (Italy). The minimum deposit is €100, spreads from 0.5 pips, and leverage is up to 1:400.

Trading platforms include MT4, MT5, and TradingView. Traders have access to insurance coverage of up to €1 million per client. Under EU regulations, ActivTrades is noted for its strong fund protection.

For Italian traders, ActivTrades is regarded as one of the best forex brokers because of the provision of EUR accounts along with local CONSOB regulations and high fund safety.

ActivTrades – Key Features

• Established in 2001, London-based
• Regulation in FCA, CSSF, SCB, CONSOB (Italy)
• Platforms: MT4, MT5, Tradeview
• Starting investment €100, 0.5 pips spread
• Leverage 1:400
• Each client €1M insurance coverage + strong presence in EU

ActivTrades Pros & Cons

Pros:

• Licensed by FCA, CSSF, SCB, CONSOB (Italy)
• Insurance cover of €1 million for each trader
• MT4, MT5, and TradingView are available
• Strong presence and fund protection in the European region

Cons:

• Minimum deposit of €100
• Spread costs start at 0.5 pips (no raw ECN)
• Not as many products as IG or Saxo

Risks & Compliance for Italian Traders

Regulatory Framework in Italy

Primary Regulator: Commissione Nazionale per le Società e la Borsa (CONSOB) is Italy’s main regulator for Forex trading.

EU Oversight: They operate with European Securities and Markets Authority (ESMA) for the implementation of European regulations.

Broker Licensing: CONSOB or any other European Authority recognized by the broker is required for licensing.

Leverage Limits: 1:30 is the maximum leverage available for retail traders to ensure that they don’t take on too much risk.

Taxation: 26% flat tax is levied on gains made from Forex and is classified as capital gains.

Key Risks for Italian Traders

Unlicensed Brokers: Non-EU and Non-CONSOB regulated brokers are the main avenue through which traders will get conned with no legal backing to mitigating the risk of fraud.

High Leverage Abroad: Losses will be accumulated at a fast rate due to the high risk involved in offshore brokers.

Market Volatility: Forex is fully backed with volatility and high custom leverage which is why risk management is a huge necessity.

Hidden Costs: Profit will be eroded from overnight financing fees and other spread charges as well as fees related to the conversion of currencies.

Tax Non-Compliance: Italy will be harshed for the failure to declare Forex gains in compliance with laws and regulations put in place by taxation.

Conclusion

Italian traders have good reason to select forex brokers with EUR-only accounts to cut down on conversion expenses, ease compliance issues, and streamline local banking integration. Brokers that come to the forefront include Saxo Bank, Pepperstone, Fusion Markets, Global Prime, FxPro, XM Group, eToro, IG, Plus500, and ActivTrades due to their strong regulations, competitive pricing, and custom-tailored accounts.

Brokers that offer only EURO accounts create faster communication with banking systems, provide stability and faster tax compliance reporting on SEPA, CONSOB, and ESMA. Saxo and IG offer the best of class platforms, Pepperstone and Fusion are the best priced, and ActivTrades has the best fund protection. These brokers are reputable, cost effective, and efficient.

FAQ