- Italy Forex Trading Brokers
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Italy Forex Trading Brokers
It monitors how operations are being conducted — whether financial intermediaries provide fairness and transparency, and it penalizes any unfair conduct, including insider trading, financial fraud, different scams, etc. When searching for a reliable Forex broker in Italy, traders should consider the payment options offered by brokerage firms. Suitable online brokers are those who process deposits and withdrawals through the most popular payment methods in Italy.
Just like in most of Europe, credit and debit cards are the most widely used way to pay online here. Most locally-issued cards, also Visa or Mastercard, can be used, as well. Depositing through a card is secure and almost instant but traders should know that withdrawing their funds may take a bit longer — anything from 3 to 5 business days.
Another fast, secure, and convenient option is to fund your trading account via an e-wallet. Most of the major digital wallets can be used in Italy, so Italian traders can choose from Skrill, PayPal, Neteller, and even less popular options such as the Russian e-wallet WebMoney. Traders who choose to use a digital wallet would also be able to withdraw their money within 48 hours. The vast majority of Forex brokers, however, offer bank transfers for deposits and withdrawals. This may be the safest and most reliable way to transfer money online but it also comes with higher fees.
In addition, traders should know that their withdrawal may take longer to reach their bank accounts. Of course, bank wires, SEPA or Western Union transfers may also be offered, while some Forex brokers also provide their Italian clients with locally available payment options such as the Neosurf prepaid cards, Postepay payments, and Sofort. Choosing the best Forex trading platform may not be easy, especially for beginner-level traders who are just entering the world of Forex.
The foreign exchange market is indeed a great entry-level option for new traders but it comes with its specifics. It is linked with high risk, it is very volatile, and it should be accessed only by individuals who know what they are doing. To do that, however, they need the services of a good, respected Forex broker and functional, fast-performing trading software. This type of software was released in by Cyprus-based company MetaQuotes Software and it is specifically catering to Forex traders. The platform is suitable for both novices and experienced traders although there are types of software that may be much better for professionals.
It features tons of convenient tools, more than 20 built-in indicators, and auto trading options. MetaTrader 5, on the other hand, is preferred by those who focus on stock trading. Traders based in Italy can also try another relatively popular platform, namely cTrader. The award-winning software offers advanced, customizable charts and even more technical indicators. It also supports 14 different languages, including Italian.
Traders can open multiple accounts and enter several trades — they will be processed at once. One of the most important things for traders nowadays is whether the online broker offers an intuitive, fully functional mobile app. Mobile trading is quickly growing, including in Italy, due to the fast development of mobile technologies and the introduction of faster and more powerful smartphones than ever before.
Italians, in particular, love their mobile phones — according to data, Italy ranked fifth in Europe by mobile penetration number of mobile devices per citizens.
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When choosing an online Forex broker, traders should check whether the firm offers a trading app for their device. Luckily, most brokers have native apps for both iOS and Android devices and they can be downloaded and installed for free from the App Store or Google Play. Traders should also check whether the app is available in Italian and whether local support is offered. Those who opt for a live mobile account can access all markets and trading instruments supported by the broker, open and close positions, manage their account, etc.
Best Forex Brokers for Finland. Fusion Markets Lowest trading costs. Lot Size. Ava Trade. XM Group. Is Forex Legal in Italy? Yes, trading on the foreign exchange market is a legal activity, available to anyone, interested in this type of investment. Binary options, on the other hand, are not seen as a fair and reliable form of trading by the local regulator. Until 1 January , when the Euro was introduced, the national currency of Italy was the lira. Software is generally used by professionals only to analyse past performance and to identify trends. All software should be formally and independently tested but caution is required when trusting the reviews themselves as these can be paid for.
If their product did exactly what they claimed then they would not be selling it but instead using it exclusively themselves. These accounts can be a type of Forex scam and there are many examples of managed accounts. These scams often involve a trader taking your money and instead of investing it, they use it to buy all sorts of luxury items for themselves. When the victim eventually asks for their money back there is not enough money left to repay. This is a very common form of affinity fraud. They promise high returns from a small initial investment up front.
The early investors usually do gain some sort of return on their money and motivated by this success they then recruit their friends and family into the scheme. When the investor numbers start to drop the scammers close the scheme and take the money. This type of scam involves the scammers usually getting people to buy shares in a worthless private company on the promise that when the company goes public their shares will increase substantially.
They depend on using "urgency" - suggesting that an opportunity will be lost if they do not act quickly which prevents the target from being able to research the opportunity properly. The single most important thing an individual can do to avoid being scammed is to actually learn to trade on the Forex market properly.
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The Forex market is not a casino but a very serious market where trillions of currency units are traded daily. Use demo accounts and learn to make long term profits first before trading for real. Be aware that like any professional skill, it can take years to master the Forex trade properly.
Do not take at face value the claims that are made, take the time to make your own analysis. An inexperienced trader should be critical in their approach, analysing statistics and making their own functions that they have tested and had success with on a demo account first. This will take time to achieve but will serve the inexperienced trader better than trusting an automated computer program.
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Do not be rushed into a "too good to be true" investment. If you have been scammed report the scam to the appropriate authority. As well as doing this it is also a good idea to tell your story to the Forex community so that other individuals do not fall foul of the same scam. Giambrone is a leading mid-size international law firms with a team of experienced lawyers specialising in Forex fraud. Giambrone assists traders in civil and criminal actions against unregulated Forex companies, online internet fraudsters and pyramid schemes created on a Ponzi-style structure.
Giambrone also specialises in legal actions against Binary Options trading companies. Giambrone advise investors caught in Finanzas Forex's scam.
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Finanzas Forex is now in liquidation and Giambrone is continuing to help traders recover funds from the perpetrators of this scam. Giambrone makes the process of starting your claim straight forward. All that a victim of a Forex scam has to do to start a claim is to complete an online claim form and send it back to Giambrone. Giambrone continues to fight vigorously for the protection of customers and to ensure the wrongdoers are held accountable. Alternatively, please click here to file an enquiry form online,. On - you agreed to accept cookies from this website - thank you.
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We use a range of cookies to improve your experience of our site. Find out more. Forex Lawyers - Forex Trading Scams. What is Forex? Giambrone's banking and financial lawyers point to the following features of the Forex market that make it susceptible to Forex trading scams and Forex frauds: There is no regulated centralised exchange.
Currencies are traded via computer networks between one trader and the next, often referred to as over-the-counter OTC.