Is Forex Legal in Italy?

Forex trading is permitted in Italy under the Consolidated Law on Finance (Legislative Decree No. 58/1998) and MiFID II regulations, provided it is conducted through firms authorized by the Commissione Nazionale per le Società e la Borsa (CONSOB) (1).

Retail forex trading services may only be offered by Italian or EU-licensed investment firms and banks; any unauthorized provision of such services online is prohibited and subject to enforcement actions by CONSOB (2).

"The Code is a set of global principles of best practices in the foreign exchange market, developed to promote its integrity, transparency and liquidity and to foster the harmonization of good practices at global level."

In addition, the Banca d’Italia oversees the stability and transparency of Italy’s foreign exchange markets, intervening as needed under the Treaty on the Functioning of the European Union to maintain orderly market conditions.

Source:
https://www.consob.it/web/consob-and-its-activities/-/consob-resolution-no-23276-of-october-9-2024
https://www.bancaditalia.it/compiti/operazioni-cambi/fx-global-code/index.html?com.dotmarketing.htmlpage.language=1

Last updated: 17-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.