You already know that starting investing is a significant milestone in your financial life, but now you may wonder, “Where should I open my investment account?”. The search for a online broker may be daunting!
Through cost-benefit analysis, we’ve compiled several online brokers as our top picks for the best brokers in Italy. We’ve listed the following factors that investors should always consider: fees, investment platforms, the range of markets and instruments available, regulation and education resources.
These are our suggestions for the best investing apps in Italy:
- eToro: Best for commission-free investing and social trading
- Interactive Brokers: Best broker overall
- XTB: Best for Forex and CFD trading
- Pepperstone: Best demo account, Forex and CFDs
- DEGIRO: Best for low-cost investing
- Trading 212: Best for commission-free ETFs
- Scalable Capital: Best for automatic investing (robo-advisor)
Disclaimer: Investing involves risk of loss.
51% of retail CFD accounts lose money.
76-83% of retail CFD accounts lose money.
74-89% of retail CFD accounts lose money.
Investing involves risk of loss.
When investing, your capital is at risk.
Comparison of international brokers in Italy
Online brokers to avoid ❌
Prioritize safety: safe beats cheap! Remember that investing is a long-term game, so it’s best to choose a provider that you can trust as years go by. Make sure that it is allowed to operate in your country.
Check our list of investment platforms, and filter by “Not approved” to check the list of platforms that we do not recommend.
If you’re still unsure about a specific platform, feel free to reach out to us – we’re happy to help!
Online brokers in Italy
eToro at a glance
Founded in 2007, eToro is an international online broker with over 30 million users who can trade over 3,000 financial assets, including stocks, ETFs, cryptos, and CFDs on stocks, ETFs, commodities, Forex, indices, and cryptocurrencies. Stocks and ETFs are traded commission-free, as a whole, or fractional shares (other fees apply).
eToro’s investment platform, accessible through both web and mobile platforms, is a social trading hub. Here, investors can engage in discussions about investments, speculations, and market news with fellow investors. eToro also allows users to replicate trading strategies (CopyTrader™) and invest in ready-made investment portfolios (Smart Portfolios) based on thematic investment strategies.
The demo account is particularly useful for a beginner ($100,000 virtual money). It lets you have real hands-on experience as you would be using real money. So, when switching to a real account, you will notice no difference between your training and the real-life of investing. On the downside, there is a withdrawal of $5.
eToro is fully regulated and supervised by top-tier regulators such as the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia. The subsidiary in Europe, formerly known as “eToro (Europe) Ltd,” is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC).
For more details, visit our eToro review.
eToro Pros and Cons
Pros
- Low stock trading fees (from $0 per trade)
- Commission-free ETFs (other fees apply)
- Social trading and other innovative products
- Wide variety of financial products
- Slick, modern, and easy for anyone to use
- European users have access to three account currencies: EUR, USD and GBP
- Top tier regulators
Cons
- Limited disclosed financial information
- Withdraw and inactivity fees
- Spread, overnight, inactivity, and currency conversion fees higher than average
- Doesn’t offer bonds, futures, or options
IB at a glance
Founded in 1978, Interactive Brokers is one of the largest international brokers listed on the NASDAQ exchange (Ticker: IBKR). It is regulated by many top-tier international regulators, including the FCA, and has no minimum deposit requirement.
It caters to both beginners and professional investors looking for any type of financial products (bonds, ETFs, shares, you name it!), an easy-to-use platform, advanced technical and fundamental trading tools, and a great educational component.
Interactive Brokers supports various account-based currencies, including GBP, USD, EUR, and other major currencies. However, funding these accounts is limited to bank transfers. They offer one of the tightest spreads in the market, ensuring favourable trading conditions, but their commission is tier-based, meaning it varies depending on your monthly trading volume.
IBKR GlobalTrader is a mobile trading app offered by Interactive Brokers that allows traders to engage in simple and worldwide trading. The app offers the flexibility to trade in fractions and invest with as little as $1, making trading accessible to traders of all levels. You can also open a simulated trading account to practice trading before opening a live account and gain access to $10,000 in simulated cash to trade in a simulated trading environment.
On the downside, you might be overwhelmed by the number of buttons and features available on each platform, especially if you are new to investing. However, Interactive Brokers offers a lot of educational materials and video tutorials to assist you in navigating and utilizing their platforms effectively. These resources can be beneficial regardless of the specific platform you are trading or using.
Want to know more? Check out our comprehensive Interactive Brokers review and visit IBKR’s website.
Interactive Brokers Pros and Cons
Pros
- Low commissions on US stock trading
- No monthly inactivity fee
- The broadest product and markets range in the brokerage industry
- Demo account
- Excellent reputation (founded in 1978)
- Extensive research and Education tools
- Has a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors, IBKR GlobalTrader.
- Offers interest on uninvested cash balances
Cons
- Complicated and lengthy account opening process (but fully online)
- Steeper learning curve for beginners
- Website is difficult to navigate
- Interactive Advisors (Robo-advisor feature) is only available for US customers
XTB at a glance
76-83% of retail CFD accounts lose money.
Founded in 2002, XTB presents itself as a market player with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) – and other local regulators like CONSOB – and listed on the Warsaw Stock Exchange. The platform offers 0% commissions on stocks. However, its software is more oriented to CFDs and forex trading with competitive costs.
XTB also offers other financial products, such as commodities and cryptocurrencies. XTB charges high commissions on CFDs of cryptocurrencies but low costs for Forex. Besides, you will face an inactivity fee of €10/month after one year of non-trading and if you have not made any deposit in the last 90 days. Opening an account and transferring money is a quick and hassle-free process (demo account available).
Still any doubts? Go through our XTB Review!
XTB Pros and Cons
Pros
- Free stocks trading (only applicable to some countries)
- Customizable trading platform (charts and workspace)
- Low Forex Spreads
- Demo account
- No minimum account deposit
- Valuable education materials
- Top-tier Regulators
Cons
- Complex trading platform for a beginner
- High Stock CFD spreads
- Limited product portfolio
- Withdrawal fees for transfers below $100
- Inactivity fee (€10/monthly after 1+ year with no activity plus no deposit in the last 90 days)
Pepperstone at a glance
74-89% of retail CFD accounts lose money.
Established in 2010, Pepperstone has become one of the world’s largest forex brokers.
Pepperstone is regulated by several top-tier financial authorities, including ASIC (Australia), FCA (UK), BaFin (Germany), Dubai (DFSA) and Cyprus (CySEC).
In the UK and Europe, leverage is capped at 30:1 due to EU regulations.
On the downside, Pepperstone focuses on CFDs – no real stocks, shares, or crypto -, and it offers no interest your cash balances, a valued feature offered by other brokers.
Pepperstone is best for traders focused on CFDs/forex – it is even endorsed by the r/Forex subreddit—the largest forex community on the internet—alongside Interactive Brokers, which further attests to its credibility in the forex/CFD community.
Pepperstone Pros and Cons
Pros
- Quick customer support response times
- No fees for deposits, withdrawals, or account inactivity
- Competitive spreads in the Razor account with active trader rebates
- High leverage options up to 1:500 for Pro clients; Max retail leverage 1:400 (depending on location)
Cons
- Limited to CFD trading; no direct asset ownership
- Higher Forex spreads in the standard account
- Crypto offerings are limited compared to competitors
- Limited educational resources
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
DEGIRO at a glance
Investing involves risk of loss.
Founded in 2013, DEGIRO is a low-cost brokerage firm that has become very popular due to its low rates! With almost 3 million users, the innovative platform has become widely known for its “do-it-yourself” philosophy in the sense that you have everything at your disposal to start investing on your own. It offers a wide range of financial assets to trade, including stocks, ETFs, bonds, options, futures contracts, warrants, investment funds, and some leveraged products (not quite the same as CFDs. More info here).
For instance, you can trade some ETFs for free (a €1.00 flat handling fee – external costs – still apply) with no minimum amount required. The web trading platform is basic, but it is efficient and straightforward to use. In a matter of minutes, you get used to it. The same applies to its mobile app. On the downside, there is an absence of any significant fundamental research, a €2.50 connectivity fee applies, a €1.00 commission on US stocks and pricing alerts are missing.
Regarding security, DEGIRO is the Dutch branch of flatexDEGIRO Bank AG (a German-regulated bank). In the unlikely event that the segregated assets cannot be returned to clients, DEGIRO falls under the German Investor Compensation Scheme, which compensates any losses from non-returned assets up to 90% (with a maximum of €20,000), so do bear this in mind if you are planning to invest much larger volumes. Furthermore, any money deposited on a DEGIRO Cash Account with flatexDEGIRO Bank AG will be guaranteed up to an amount of €100,000 under the German Deposit Guarantee Scheme.
Still any doubts? Go through our DEGIRO Review!
DEGIRO Pros and Cons
Pros
- ETF Core Selection list (external fees apply)
- User-friendly web and mobile app
- Wide range of investment options
- Education material: Investor’s Academy and Investing with DEGIRO
- Low overall commission structure
- No account opening, inactivity, or withdrawal fee
Cons
- 0.25% currency conversion fee (charged if you deposit or invest in a different currency than your base currency)
- €/£1 flat handling fee (charged in most transactions)
- €/£2.50 of connectivity fee (paid annually), per exchange where you’re invested
- Does not offer Forex, CFDs, and Cryptos
- No ISA account (for UK residents)
- Low-quality customer support
- No interest paid on cash balances
Trading 212 at a glance
When investing, your capital is at risk.
Founded in 2006, Trading 212 is a fintech based in London that aims to democratize the entire investment process through a simple mobile application. The company aims to do this by allowing anyone to invest in over 10,000 stocks and ETFs, Forex, commodities, CFDs, and cryptocurrencies. Over 15 million people have already downloaded the app.
In Trading 212, you will find commission-free stocks and ETFs trading, fractional shares, and even an automatic investment system (robo-advisor). Opening an account is extremely quick and easy. On the downside, it shows limitations regarding available products, such as the lack of bonds and options. It charges a 0.15% currency conversion fee when buying assets in a currency different from your base account.
Within the app, you will notice two distinct sub-platforms: Trading 212 Invest, where you can trade a range of assets free of charge, and trading 212 CFD, where you may trade leveraged financial products (CFDs).
If you want to learn more, check our Trading 212 Review.
Trading 212 Pros and Cons
Pros
- Commission-free Real Stocks and ETFs trading (other fees may apply. See terms and fees)
- AutoInvest & Pies feature
- Fast and easy account opening process
- Demo account
- Top Tier Regulators
- Free fractional shares worth up to €100
- High interest on uninvested cash
Cons
- Limited product portfolio (no Options, Bonds, Mutual Funds or Futures)
- No relevant Fundamental tools
- 0.15% of Foreign exchange fees
Scalable Capital at a glance
Founded in 2014, Scalable Capital is a German fintech that offers two services: Brokerage, where you can trade shares, ETFs, funds, crypto and derivatives and invest via a savings plan by yourself and a Wealth Service (robo-advisor), where you get a personalized portfolio managed by Scalable Capital.
On the brokerage side, the range of available products is considerable: 7,000+ shares, 2,000+ ETFs, 2,000+ Funds, 70+ Crypto ETPs and 375,000+ derivatives. It offers three pricing plans: “Free broker” for €0/month; “Prime Broker” for €2.99/month and “Prime Broker Flex” for €4.99. In all of them, you have free trading in a list of “PRIME ETFs”. Commission-free trading in shares is included in the “Prime Broker” plan.
Within the Wealth Service, you will only be presented with different portfolios/strategies using ETFs. First, you need to answer a short questionnaire to access your risk profile, and then an appropriate portfolio will be set for you. Up to €100,000, you are charged an annual management fee of 0.75%. You can pay the minimum annual fee of 0.49% if you deposit over €500,000.
Scalable Capital has regulatory permission from the German Federal Financial Supervisory Authority (BaFin) to provide securities services, and it is also supervised by the German Federal Bank (Deutsche Bundesbank). As such, it is a member of the investor compensation scheme, which protects your cash (up to €100,000) and your assets (limited to 90 %, up to a maximum of €20,000 per investor).
Scalable Capital Pros and Cons
Pros
- Stocks and ETFs commission-free (in PRIME Broker)
- €1 minimum deposit
- Interest on idle cash
- No custody fee
- Regulated by Bafin
Cons
- No access to US stock exchanges
- No fractional shares
- Limited crypto available
- €3.99 per trade on Xetra
Which platform should you choose?
Some factors you should know when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK, the range of products it allows you to trade (not all platforms allow you to trade EU stocks), among others.
The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!
A reminder that the above should not be seen as investment advice and should be considered information only. Investors should do their own research and diligence about the best-suited services and opportunities for their risk, returns, and impact strategy.
Other resources
- Check our Youtube channel! You will find step-by-step guides of how to invest in the S&P 500 on different brokers, as well as other educational videos about investing and investment platforms.
- Explore our tools: Check our comparison tool, reviews, BrokerMatch, brokers that offer the highest interest rates, signup bonuses, and others.
Other FAQs about brokers in Italy
How to invest in stocks from Italy?
You can use one of the online brokers shown above: eToro, Interactive Brokers, XTB, DEGIRO, Plus500, Scalable Capital and Trading 212.
What is a brokerage company?
There is no single answer. It depends on what you value most: fees, security, investment platform or any relevant feature.
Which broker is best in Italy?
There is no single answer. It depends on what you value most: fees, security, investment platform or any relevant feature.
What are the types of investments you can make with a brokerage account?
You can trade stocks, ETFs, Forex, Bonds, Futures and CFDs on stocks, ETFs, indices, cryptocurrencies, commodities.
