| Updated: August 12, 2024If you are interested in trading cryptocurrencies in Italy but are lost on where to start, you have come to the right place: Below, you will find a selection of some of the best brokers and exchanges that cater to an Italian audience, as well as information regarding the intricacies surrounding crypto trading in Italy and its legal status.
Fusion Markets74-89% of retail CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
IC Markets70.64% of retail investor accounts lose money
AvaTrade76% of retail investor accounts lose money
Eightcap76.09% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
Plus50080% of retail investor accounts lose money
Admirals73% of retail investor accounts lose money
XTB80% of retail investor accounts lose money
Tickmill70% of retail investor accounts lose moneyCrypto Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,662 | 4.9 ⭐ |
| 2. FP Markets | 6,706 | 4.8 ⭐ |
| 3. IC Markets | 37,770 | 4.6 ⭐ |
| 4. AvaTrade | 8,718 | 4.5 ⭐ |
| 5. Eightcap | 2,460 | 4.2 ⭐ |
| 6. eToro | 24,180 | 4.2 ⭐ |
| 7. Plus500 | 13,613 | 4.1 ⭐ |
| 8. Admirals | 1,770 | 3.8 ⭐ |
| 9. XTB | 1,168 | 3.6 ⭐ |
| 10. Tickmill | 541 | 3.0 ⭐ |
Italy Crypto Brokers Spreads
| Broker | BTCUSD | ETHUSD | SOLUSD | ADAUSD |
|---|---|---|---|---|
| 1. AvaTrade | 0.10% | 0.15% | 1% | N/A |
| 2. FP Markets | 1.27 | 2.7 | 0.2 | 0.0031 |
| 3. Eightcap | 12.26 | 2.6 | 0.21 | 0.0051 |
| 4. Plus500 | 0.30% | 8.1 (0.25%) | 3.21 (1.78%) | 0.00578 (1.39%) |
| 5. eToro | 0.75% | 1% buy, 1% sell | 1% | 1% buy; 1% sell |
| 6. Tickmill | Minimum spread - 12 Typical spread - 24.9 | Minimum spread - 1.01 Typical spread - 2.06 | Minimum spread - 0.15 Typical spread - 0.15 | Minimum spread - 0.007 Typical spread - 0.02 |
| 7. IC Markets | 8.71 | 4.56 | 0.10 | 0.001 |
| 8. XTB | 0.22% of market price | 0.25% of market price | 0.75% of market price | 0.45% of market price |
| 9. Fusion Markets | 10.63 | 2.59 | 0.143 | 0.0 |
| 10. Admirals | 0.3% | 0.3% | 1.5% | 1.5% |
Top 10 Crypto Brokers in Italy
- 1. AvaTrade
Min. Deposit €100 Regulations CySEC, Central Bank of Ireland, B.V.I Financial Services Commission, ASIC, JFSA, FSCA, ADGM, ISA Tradable Coins 15+ Software WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5 Crypto Leverage 2:1 Fees BTCUSD – 0.10% Over-Market Exchange/Wallet No Deposit Methods Visa, Mastercard, Wire Transfer, PayPal, Skrill, Neteller, Perfect Money, Boleto Withdrawal Methods Visa, Mastercard, Wire Transfer Narrow spreads, strict regulatory oversight, robust security, and an excellent selection of markets are what crypto enthusiasts can look forward to if they decide to make AvaTrade their broker of choice. The number of tradable coins at AvaTrade is modest but sufficient compared to other brokers, offering clients the opportunity to trade contracts of difference (CFDs) on Bitcoin, Ethereum, Litecoin, and more.
If you are new to crypto trading, you can rest assured that CFDs do not require ownership of cryptocurrencies. Moreover, deposits can be achieved via various fiat-based means, including but not limited to Visa, wire transfers, and a range of digital wallets.
If things ever go awry during your trading journey, you can get in touch with the support staff via email or live chat. As a resident of Italy, you will also be able to contact a representative of the support team via the phone number +(39)0289038621.
Key Pros
- Over 15 cryptocurrency CFD products
- AvaTrade supports Italian, French, Japanese, and various other languages
- Italian traders have access to customer support via phone
- AvaTrade has earned various rewards for its excellent conduct, including “Most TrustedBroker 2023” by International Investor
- Available in Italian, English, and other languages
Key Cons
- AvaTrade charges an inactivity fee if a client is inactive for three consecutive months
- Stop losses are not guaranteed
- No wallet service
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 2. FP Markets
Min. Deposit €50 Regulations CySEC, FSCA, SFSA, ASIC, registered with the regulator of St. Vincent & the Grenadines Tradable Coins 10+ Software MT4, MT5, TradingView, cTrader, WebTrader Crypto Leverage 2:1 Fees BTCUSD – 18.85 pips average spread Exchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Bank Transfer, Neteller, Skrill Withdrawal Methods Visa, Mastercard, Bank Wire Transfer, Neteller, Skrill FP Markets’ roots date back to 2005 when it was established and incorporated under the laws of Australia. The broker quickly grew, becoming one of the top online trading destinations for traders around the globe, and it now welcomes Italian blockchain enthusiasts as well.
The choice of crypto products includes CFDs in coins like Bitcoin, Ethereum, and Cardano, to name a few. As is the case with all Europe-friendly brokers, the leverage you can trade with should you pick cryptocurrency CFDs stands at 2:1, as is mandated in the Markets in Financial Instruments Directive 2014 (MiFID 2).
In terms of fees, traders will also find that FP Markets does not charge a commission, regardless of whether the client is using a Standard account or a Raw Account. Instead, in both cases, the cost is built into the spread. Deposits are fee-free, as are most cashouts, and there is no inactivity fee to be wary of should you leave your account idle for a prolonged period of time.
Key Pros
- Support is available 24/7
- Excellent range of deposit and cashout solutions
- Clients can trade crypto CFDs via platforms like cTrader, both MT suites, and more
- No additional costs are attached to deposits
- Negative balance protection
Key Cons
- Minimum deposit requirement of $50
- Content centred around education is somewhat lacking
- The selection of deposit and cashout solutions could be broader
10 per quarter for non-AU traders; 20 per quarter and notional volume of AU$1,000,000 per 4 quarters in the last 1 year 73.85% of retail CFD accounts lose money - 3. Eightcap
Min. Deposit €100 Regulations CySEC, ASIC, FCA, Securities Commission of The Bahamas Tradable Coins 100+ Software TradingView, MT4, MT5, WebTrader Crypto Leverage 2:1 Fees BTCUSD – 170 pips (min) Exchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Wire Transfer, Skrill, Neteller, Crypto Withdrawal Methods Visa, Mastercard, PayPal, Wire Transfer, Skrill, Neteller, Crypto If you are looking to trade cryptocurrencies like Bitcoin and Litecoin via CFDs, Eightcap should definitely be on your radar. This broker has been around since 2009, and it has earned the regulatory approval of a number of reputable entities, including the Cyprus Securities and Exchange Commission and the UK’s Financial Conduct Authority. Italy-based traders can therefore rest assured that Eightcap is up to snuff in terms of its regulatory conduct and that its trading rules are in line with European trading laws.
The above means that the maximum leverage retail crypto traders have access to 2:1 and that the broker offers negative balance protection to its retail users. Moreover, the broker has also assured that client funds are fully segregated.
Platforms-wise, there are several excellent options to pick from: TradingView, MetaTrader 4, and MetaTrader 5. Eightcap users can also utilise the Capitalise.ai tool in order to enjoy automated trading without the need to code.
Key Pros
- Eightcap does not attach fees to deposits or withdrawals
- The demo account options allows for risk-free practice
- The broker’s educational content has significantly improved over the years
- CySEC licence
- Sufficient choice in terms of platforms
Key Cons
- 24/5 customer support
- No search bar in the FAQ page, making for cumbersome navigation
- Small number of fiat currency pairs for crypto traders looking to diversify
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 4. Plus500
Min. Deposit €100 Regulations FCA, CySEC, ASIC, FMA (New Zealand), FSCA, SFSA, EFSA, DFSA Tradable Coins 20+ Software Proprietary Crypto Leverage 2:1 Fees BTCUSD – 193.58 pips (min) Exchange/Wallet No Deposit Methods Visa, MasterCard, PayPal, Skrill, Bank Transfer, Apple Pay, Online Banking, MyBank Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller, PayPal Established in 2008, Plus500 is a broker that has much to offer to Italian traders who are interested in cryptocurrency CFDs. Its state-of-the-art platform facilitates the trading of CFD products in Bitcoin, Litecoin, Cardano, and plenty of others. For traders who are looking for a versatile trading experience, we should highlight that, in addition to crypto, Plus500’s catalogue of markets includes forex, commodities, and shares, among others.
While the broker is a suitable option for Italians who are already experienced in trading cryptocurrencies, we should stress that Plus500 is a great option to go for if one is a novice. Plus500 offers a comprehensive suite of educational content that is easy to browse thanks to the search bar and the information being organised into various categories. Once one is satisfied with how much they have learnt, they can apply their newfound knowledge by using a Plus500 demo account and practice until they are comfortable enough to trade with real funds.
Key Pros
- Neither deposits nor cashouts involve fees imposed by Plus500
- Available in Italian, Portuguese, Turkish, and plenty of other languages
- The proprietary Plus500 platform is compatible with mobile devices
- Regulated by Cyprus’ financial supervisor
- Good range of crypto CFDs
Key Cons
- Monthly activity fee is enforced if a client does not log in to their account for 3+ months
- Does not support MT4 or other third-party platforms
- Conversion fees can reach 0.70%
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 5. eToro
Min. Deposit $100 Regulations Registered with the OAM (Italy), the AMF and the Bank of Spain; Listed in the public register of the DNB as a crypto service provider; Regulated by CySEC, the FCA, and the MFSA Tradable Coins 20+ Software eToro (proprietary) Crypto Leverage 2:1 Fees Spread plus a fixed fee equal to 1% of the quoted price. Exchange/Wallet eToro Money Crypto Wallet Deposit Methods eToro Money, Credit/Debit Cards, PayPal, Neteller, Skrill, Bank Transfer Withdrawal Methods eToro Money, Credit/Debit Cards, PayPal, Neteller, Skrill, Bank Transfer If you are looking for a reliable broker that boasts a vast number of tradable coins and offers trading on various other products, eToro might be just the broker for you. From Bitcoin to altcoins like Ethereum and meme tokens like Shiba Inu, the choice on offer is more than impressive. The broker secures long crypto positions with real assets. Leveraged positions, on the other hand, are offered in the form of contracts of difference (CFDs). The same applies to short crypto positions.
In terms of security, traders can trust that they are in the right hands. The broker ensures clients’ funds are not mingled with the money of the company, it utilises robust encryption technology to keep data, and provides users with tools like two-factor authentication in order to make sure that they can protect their accounts.
While eToro does not support third-party platforms, it offers its own in-house developed software which allows for trading on both desktop devices and smartphones.
Key Pros
- eToro Academy will teach novices a lot about how trading crypto works
- The broker is suitable for mobile trading
- Various trading options in addition to crypto
- 20+ tradable coins
- Demo account
Key Cons
- Clients are charged a $5 fee on withdrawals
- The trading costs are considered fairly high by clients
- No crypto deposits
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. - 6. Tickmill
Min. Deposit €100 Regulations CySEC; registered with BaFin, the ACPR, CONSOB, and the CNBM Tradable Coins 9 Software MT4, MT5 Crypto Leverage 2:1 Fees BTCUSD – 12 pips (min); 10% swap charge per year is applied to all long positions Exchange/Wallet No Deposit Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal, Trustly Withdrawal Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal, Trustly With its licence from the Cyprus Securities and Exchange Commission (CySEC) and a registration with Italy’s Commissione Nazionale per le Società e la Borsa, Tickmill is a broker that welcomes Italian blockchain enthusiasts with open arms. Its European regulation ensures compliance with MiFID rules, and Italy-based traders can therefore expect to have access to negative balance protection as well. This also means that the maximum leverage available for crypto CFDs is 2:1 if one is a retail client.
Trading crypto is achieved through CFD technology and the available cryptocurrencies include, but are not limited to, Bitcoin, Cardano, Litecoin, and Ripple.
Creating an account is a piece of cake thanks to the streamlined registration and verification, and users-to-be can pick between a classic account, a raw account, and several other options in terms of account types. Tickmill supports both popular iterations of MetaTrader (MT4 and MT5), and it offers tools, such as an economic calendar, a VPS service, an earnings calendar, and more to clients.
Key Pros
- Negative balance protection
- Tickmill is licensed by CySEC
- Average execution speed of 0.20s
- Also suitable for forex trading
- Mobile-friendly
Key Cons
- Does not offer alternatives to the MetaTrader platforms for crypto trading
- Relatively small selection of tradable coins
- No 2FA
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 7. IC Markets
Min. Deposit €200 Regulations CySEC, FSA, ASIC Tradable Coins 21 Software MT4, MT5, cTrader Crypto Leverage 2:1 Fees BTC/USD – 2.210 pips min spread;
No commission fees on crypto CFDsExchange/Wallet No Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Rapid Transfer, Wire Transfer Withdrawal Methods Visa, Mastercard, PayPal, Skrill, Neteller, Rapid Transfer, Wire Transfer Contracts of difference (CFDs) make up a significant portion of IC Markets’ trading catalogue. CFD trading encompasses a sufficient range of markets, with forex, commodities, and of course cryptocurrencies, being notable examples. Speaking of crypto, the coins include Bitcoin, Ethereum, and Dogecoin, to name a few. As is typical across all brokers that cater to a European audience, IC Markets has capped the retail leverage for blockchain token trading is 2:1.
What bears highlighting is IC Markets’ customer support service. The broker has managed to earn an almost perfect 4.8 score on the review platform TrustPilot, and a good number of its positive reviews are owed to the excellent support staff. The team is ready to assist clients around the clock, seven days a week, via live chat and email, and according to IC Markets users, they are helpful and quick to resolve issues. Users have also praised IC Markets for its relatively low spreads and swift withdrawals.
Key Pros
- cTrader and the full MetaTrader suite are available to crypto enthusiasts
- 24/7 customer support
- No inactivity fee
- Sufficient number of fiat-based banking solutions
- Registration is hassle-free
Key Cons
- No stand-alone smartphone app
- No wallet service
- Educational content is limited
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 8. XTB
Min. Deposit €0 Regulations CySEC, FCA, AMF, FSC Belize, KNF Tradable Coins 40+ Software xStation (proprietary) Crypto Leverage 2:1 Fees BTC/USD – 0.22% of market price, no commission fees on crypto CFDs Exchange/Wallet No Deposit Methods Bank Transfers, Credit Cards, Debit Cards, PayPal, Skrill, Neteller Withdrawal Methods Bank Transfers, Credit Cards, Debit Cards XTB is a broker that has been around for around two decades, and while it initially focused primarily on forex, its market selection has expanded substantially throughout the years. Now XTB is suitable for traders who are interested in crypto CFDs as it essentially has one of the biggest crypto CFD libraries on our list, with nearly 50 tradable icons being at the disposal of XTB users.
While XTB cannot be used with MT4 and other industry-standard platforms, the broker has developed its own in-house developed platform which has a user interface that will be comfortable for veterans and inexperienced traders alike. It is compatible with both desktop computers and mobile devices and facilitates CFD trading on cryptocurrencies, forex, commodities, and more.
Key Pros
- No minimum deposit requirements
- State-of-the-art proprietary platform
- Selection of tradable coins
- Compatible with Android and iOS smartphones
- Vast array of articles and other content focused on education
Key Cons
- 24/5 customer support
- Lack of versatility in terms of platforms
- Users who are inactive for 12 months must pay €10 per month
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Min. Deposit None Regulations ASIC, FSA, VFSC Tradable Coins 13 Software MT4, MT5, cTrader, DupliTrade Crypto Leverage 2:1 Fees BTCUSD – 10.63 pips (min)
ETHUSD – 2.59 pips (min)
SOLUSD – 0.143 pips (min)
ADAUSD – 0.0 pips (min)Exchange/Wallet No Deposit Methods Visa, Mastercard, Bank Transfer, PayPal, Crypto, BinancePay, Skrill, Neteller, Jeton, Perfect Money, MiFinity Withdrawal Methods Visa, Mastercard, Bank Transfer, PayPal, Skrill, Neteller, Perfect Money, Crypto, Jeton, MiFinity Fusion Markets is a broker that could easily be defined by its versatility. Its markets section presents users with a sufficient range of crypto CFDs, and those who enjoy numerous forms of trading may also pay a visit to Fusion Markets’ pages dedicated to metals, soft commodities, shares, and equity indices.
If you are picky in terms of the platform you plan on utilising when trading cryptocurrencies, Fusion Markets has got you covered: both MetaTrader suites are available to Fusion Markets clients, and users may also pick between cTrader and TradingView if these platforms suit their preferences more. As all of the aforementioned platforms are compatible with mobile devices, this makes Fusion Markets suitable for crypto trading enthusiasts on the go as well.
Those who decide that Fusion Markets could be a good fit for their trading needs will be able to register in no time, and we are happy to report that verification is also relatively quick and hassle-free.
Key Pros
- Various account types, including a demo account for inexperienced traders
- Plenty of platforms to pick from
- Clients can deposit via bank cards, digital wallets, crypto, and more
- Live chat support
- Forex, commodities, and other markets are also available
Key Cons
- Navigating the FAQ section is a bit frustration
- The selection of educational materials is subpar compared to other brokers
- Italian is not included among the language options
Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.- 10. Admirals
Min. Deposit €100 Regulations EFSA, FCA, ASIC, CySEC, JSC, CIRO, CMA, SFSA, registered with the CIPC Tradable Coins 27 Software MT5, MT4, Admirals Platform (Web) Crypto Leverage 2:1 Fees BTCUSD – 0.3 pips (min) Exchange/Wallet Admirals Wallet Deposit Methods Admirals Wallet, Visa, Mastercard, Bank Wire Transfer, Skrill Withdrawal Methods Visa, Mastercard, Bank Wire Transfer, Skrill Admirals, previously known as Admiral Markets, is an award-winning broker that has earned the seal of approval of CySEC, the UK’s FCA, and other excellent regulators. This ensures Italian traders will be able to take advantage of negative balance protection and other EU-mandated safety measures. In addition to ensuring that it is regulated by suitable supervisory entities, Admirals also caters to Italian traders by having Italian as one of its supported languages.
Traders can choose between CFDs on Bitcoin, Litecoin, Dogecoin, and more, and enjoy competitive spreads. The spread for BTCUSD, for instance, can go as low as 0.3 pips. As for what leverage clients have access to, EU regulations mandate that the maximum leverage permitted is 2:1.
If you are interested in crypto trading but are lost on how to start your journey with Admirals, you can pay a visit to the website’s education centre. There, you will find various articles, videos, and e-books. Attending webinars is also an option.
Key Pros
- Negative balance protection
- Supports multiple languages, including Italian
- 24/7 live chat customer support
- Licensed by top-tier entities like the FCA (UK), ASIC (Australia), and EFSA (Estonia)
- Bitcoin, Ethereum, and over twenty more currencies can be traded via CFDs
Key Cons
- Leaving one’s account unattended for too long results in an inactivity fee
- Minimum deposit requirement of €100
- The selection of deposit methods is limited
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Crypto Exchanges Trustpilot Score
Crypto Exchanges Trading Fees
| Exchange | Maker/Taker Fees | Staking | Deposits Fees | Withdrawal Fees |
|---|---|---|---|---|
| 1. Binance | Spot & Margin: from 0.1000% / 0.1000% to 0.0120% / 0.0240% (depends on tier); Futures: from 0.0200%/0.0500% to 0.0000%/0.0170% (depends on tier) | 2.94% (ETH) 0.3%~5.6% (SOL Simple Earn) 2.7%~3.88% (USDT Simple Earn); N/A in Australia | 2% for buying crypto with AUD; 2% (Bank Cards); €1 (SEPA Transfer) | Free; €1 (SEPA Transfer) |
| 2. Kraken | Spots: from 0.25% / 0.40% to 0.00%/0.10% (depends on tier); Margin: 0.02% opening fee; Futures: from 0.0200% / 0.0500% to 0.0000%/0.0100% (depends on tier) | Up to 28% annually |
| CAD:
|
| 3. KuCoin | BTC/USD - 0.0600% / 0.0200% |
| Free |
|
Top 3 Crypto Exchanges in Italy
Binance
The year 2017 marked the launch of Binance, an exchange that quickly rose to popularity and is now the top exchanges based on daily trading volume. The platform supports spot trading, futures trading, and margin may also be used to execute larger trading positions. As for what coins are supported, Binance’s catalogue encompasses markets surrounding over 500 coins, with notable examples being Bitcoin, Binance Coin, Cardano, and Ethereum.
Purchasing crypto is a breeze as Binance allows users to utilise fiat currencies like EUR, USD, and plenty of others. This, along with the wealth of educational material included in Binance Academy, makes Binance a good option for Italians who are new to the world of blockchain technology.
Binance also enables its users to se tup two-factor authentication, which is a security measure that introduces an additional confirmation step to one’s login process and makes it difficult for malicious third parties to gain access to legitimate users’ accounts. Another useful security feature lets clients enable an anti-phishing code, which will be included in all emails sent by Binance.
| Binance Exchange Details | |
|---|---|
| Min. Deposit | Effectively no minimum |
| Regulations | Registered with the AMF, OAM (Italy), FIU, the bank of Spain, KAS (Poland), SFSA, AFSA, FSRA, Central Bank of Bahrain, VARA, AUSTRAC, Indonesia’s Commodity and Derivatives Exchange, and Mexico’s financial regulator. Regulated by the JFSA. Licensed by the Thailand Ministry of Finance and El Salvador’s CNAD. |
| Tradable Coins | 500+ |
| Crypto Trading | Spot Trading, Margin Trading, Futures |
| Crypto Leverage | 2:1 |
| Fees | Regular User: 0.1000% / 0.1000% VIP 9: 0.0120% / 0.0240% |
| Wallet | Binance Web3 Wallet |
| Deposit Methods | Visa, Mastercard, Apple Pay, Google Pay, Bank Transfer |
| Withdrawal Methods | Bank Transfer |
Key Pros
- Over 500 tradable coins
- Binance has competitive maker/taker fees
- Registered with the OAM
- The platform can be utilised by traders on the go
- The customer support team is ready to answer questions around the clock, seven days a day
Key Cons
- Some beginners have faced difficulties while trying to get used to the platform
- Customer support is only available via live chat
- Binance has gotten in trouble with US regulators in the past
Kraken
Kraken is one of the biggest names in today’s crypto market, and the platform is registered in various jurisdictions across the globe, Italy included. Dozens of coins can be traded via futures and spot trading, and margin trading is possible. One should keep in mind that the leverage cannot exceed 2:1, however, due to the crypto regulations of Europe.
Kraken’s user interface is relatively easy to get the hang of, giving crypto traders of all crypto education backgrounds the chance to trade cryptocurrencies without much hassle. What is more, the platform is available not just to clients with desktop computers, but to traders who tend to use their smartphones or tablets to participate in the blockchain trading market.
We should also point out that you can reach out to a representative of the Kraken support team at any time. Customer support operates around the clock, seven days a week.
| Kraken Exchange Details | |
|---|---|
| Min. Deposit | 0.0001 BTC |
| Regulations | Registered with OAM (Italy), FinCEN, Wyoming Division of Banking, FINTRAC, FCA, AUSTRAC, FSRA, BoS (Spain), CBI, VASP (Netherlands). Filed for registration in some Canadian jurisdictions. Licensed by the Central Bank of Ireland (CBI). |
| Tradable Coins | 50+ |
| Crypto Trading | Futures, Spot Trading |
| Crypto Leverage | 2:1 |
| Fees | $0 – $10.000: Maker (0.25%)/ Taker (0.40%) $10,000,000+: 0.00% / 0.10% |
| Wallet | Kraken Wallet |
| Deposit Methods | Visa, Mastercard, Google Pay, Apple Pay, ACH Online Banking |
| Withdrawal Methods | SEPA (Bank Frick), SEPA (ClearJunction), SEPA (Banking Circle), Instant SEPA (Banking Circle), Instant SEPA (Clear Junction), BLINC, SWIFT (Bank Frick), SWIFT (Etana Custody) |
Key Pros
- Euro is among the supported fiat currencies
- 24/7 customer support
- Margin trading is available
- Staking program
- Relatively low fees
Key Cons
- Deposit minimum of 0.0001 BTC
- Fees are higher for non-Kraken Pro users
- Small number of available deposit methods
KuCoin
Launched in 2017, Kucoin is an exchange that is worth considering if you are looking to partake in spot trading, futures, or trade with margin. Kucoin offers a massive catalogue of markets that involve more than 700 tradable coins.
The barrier to entry is almost non-existent, seeing as purchasing crypto has a limit of just $5, and the broker offers various fiat-based deposit and purchase solutions to its clients. For those in Italy, the Euro is among the fiat currencies that are accepted, and the platform itself is available in Italian.
Kucoin operates with a maker/taker model in terms of its fee structure, and the size of the said costs is reliant on one’s VIP level. Those who are just starting out at Vip LV0 will pay maker and taker fees of 0.100%, while users who have achieved the highest level will have lower fees. Market makers’ fees are actually in the negative (-0.005%), while takers need to pay a fee of just 0.025%.
| KuCoin Exchange Details | |
|---|---|
| Min. Deposit | $5 |
| Regulations | SFSA |
| Tradable Coins | 700+ |
| Crypto Trading | Spot Trading, Margin Trading, Futures |
| Crypto Leverage | 100:1 |
| Fees | LV0: 0.100% / 0.100% LV12: -0.005% / 0.025% |
| Wallet | KuCoin Wallet |
| Deposit Methods | Visa, Mastercard, Bank Transfer, Crypto, SEPA Transfer, and more |
| Withdrawal Methods | Crypto Wallet |
Key Pros
- Kucoin is available in Italian
- Two-factor authentication
- Traders can purchase crypto with Euros
- 700+ tradable coins
- Intuitive platform
Key Cons
- Regulation is not up to par with competitors
- Users have reported negative experiences with customer support on the review platform Trustpilot
- Many users consider the fees to be too high
Legal Status of Cryptocurrency Trading in Italy
At present, trading of cryptocurrencies is not considered illegal in Italy as the Commissione Nazionale per le Societa e la Borsa (CONSOB), Italy’s securities regulator, has not prohibited the practice. Regulatory supervision of cryptocurrencies is in the works, however. In June 2024, the Markets in Crypto-assets (MiCAR) decree was officially approved by the Italian government. According to this piece of legislation, the entities that are going to oversee Italy’s crypto market are CONSOB and the Bank of Italy.
In addition, crypto exchanges are currently required to register with the Organismo Agenti e Mediatori (OAM). This measure was introduced with the goal of combating money laundering.
As for forex brokers that facilitate trading of cryptocurrencies through contracts of difference (CFDs) they need to be supervised either by CONSOB or by another regulatory entity that governs financial markets in Europe. This applies to both regulators of European Union Members, as well as the supervisory entities of jurisdictions in the European Economic Area.
In addition to ensuring regulatory compliance of the highest calibre, this licensing requirement also means that the brokers Italian blockchain enthusiasts have access to offer perks such as negative balance protection to their retail clients. However, if one is looking to trade with substantial leverage, the system has the caveat of the maximum crypto leverage being capped at 2:1 due to MiFID II regulations.
What Forms of Crypto Trading Are Legal in Italy
As established, legislation that will enforce MiCAR rules was recently approved by the Italian government. It will allow for the trading of both asset-reference (EMTs) and asset-reference tokens (ARTs) However, it is set to come into effect in December 2024.
The only requirements at present dictate that exchanges and wallet services secure a spot in the OAM’s register. Therefore, Italian traders will find that pretty much all popular forms of trading digital coins are not banned within the country’s territory.
For those who prefer to use online broker services, typically, the only type of crypto trading they will have access to will be through contracts of difference (CFDs). These derivative contracts allow clients to trade cryptocurrencies without actually owning any coins. Instead, the trading is executed solely based on the opening and closing prices for the settlement, and this speculative nature is why some have likened CFDs to spread betting.
Going with an exchange will provide Italian blockchain mavens with a higher degree of variety in terms of opportunities to trade crypto. There, one may choose to partake in spot trading or trading via futures contracts.
Traders must also keep in mind that regardless of how they decide to trade crypto, they will be able to take advantage of leverage. In Italy, margin trading can be achieved with leverage of up to 2:1, as European regulators have deemed higher leverage to be too dangerous for retail traders. Indeed, margin trading is essentially trading with debt, and while it can result in higher profits, Italian crypto enthusiasts must keep in mind that potential losses will also be higher.
Who Regulates Crypto Trading in Italy
At the time of writing, Commissione Nazionale per le Societa e la Borsa (CONSOB) serves as Italy’s main financial regulator. Once the MiCAR decree comes into effect, both CONSOB and the Bank of Italy will regulate the country’s cryptocurrency market.
It should be stressed that pretty much all brokers that offer CFD crypto derivatives to clients also include forex, commodities, and other products in their markets catalogues and thus do need to have a licence by either CONSOB or another European regulator. To confirm CONSOB licensing, you can pay a visit to the Participants and Markets section of the regulator’s website. If you would like to familiarise yourself with the various European financial regulators whose licences can make brokers eligible to operate in Italy, you can navigate to the European Securities and Markets Authority (ESMA).
Another regulatory body of note is Organismo Agenti e Mediatori (OAM). As established, exchanges and companies offering digital crypto wallet services need to gain a spot in OAM’s register in order to comply with Italy’s anti-money laundering and counter-terrorism policies.
Common Costs Associated with Crypto Trading in Italy
Crypto trading enthusiasts who are based in Italy should keep in mind that the costs of trading itself are typically in the form of the spread when we are talking about crypto CFDs. For trading on exchanges, the spread is also present, but you will typically also run across maker/taker fees.
We must also note transaction fees, which are associated with any crypto transaction due to blockchain costs. In the case of the Ethereum blockchain, they are referred to as gas fees.
Another aspect of trading that could prove costly is trading with leverage. Also known as margin trading, this way of trading is achieved by borrowing money from one’s platform. Losses may be amplified while trading with margin and thus be costlier than initially expected, which is partly why Italy and European regulators in general have capped crypto leverage at 2:1.
Last but not least, cashouts typically come with costs imposed by the platform or your bank, although there are a few exceptions. Deposits, on the other hand, are almost always free.
Are Profits from Crypto Trading Taxed in Italy
As is the case with pretty much all types of trading, partaking in the cryptocurrency market also means that one will need to pay taxes. Italy-based traders should be aware that a 26% capital gains tax applies to gains of at least €2,000. This tax regulation has been in effect since 2023. Another tax to be aware of is the Italian Financial Transactions Tax, which applies to contracts of difference in particular.
How to Pick Quality Crypto Brokers for Italy
One of the first factors you should consider when determining the quality of a broker or exchange is its regulatory status. It is highly recommended that Italians stick to platforms that are either licensed by Commissione Nazionale per le Societa e la Borsa (CONSOB) or one of the regulators included in the European Securities and Markets Authority’s list of supervisory entities. To confirm that a platform is truthful about its licence, feel free to visit the respective regulator’s register of licensed entities. In the case of CONSOB, the page you are looking for is the Participants and Markets. Other European regulators include CySEC (Cyprus), BaFIN (Germany), and FINMA (Switzerland). In the case of exchanges in particular, it is generally advised to go with a platform with an OAM registration.
Once you have confirmed that a broker or exchange is trustworthy, you can check out what it has to offer. In general, a sufficient variety of tradable coins is a must for any Italian blockchain enthusiasts, and this might influence whether you go with a broker or an exchange.
Brokers typically offer crypto CFDs on a limited selection of popular coins and also have a market catalogue encompassing forex, commodities, and more. Exchanges, on the other hand, are usually exclusive to crypto but support the trading of dozens or even hundreds of cryptocurrencies through spot trading or futures. As you can see, both platform types have their perks and downsides, so what you go with will be dependent on your preferences.
If crypto trading or cryptocurrencies as a whole are new to you, it is highly advised that you go with a platform that offers a good demo account option so that you can practise and hone your skills before you risk your real money.
Another really important aspect is the platform. Exchanges typically go with proprietary ones so the experiences will vary, but in the case of brokers, most go with at least one platform that is well-established in the crypto sphere. You cannot go wrong by going with a broker that supports either MT4, MT5, cTrader, or TradingView.
Continuing onwards, a good broker will strive to minimise fees to a reasonable extent. Thus, check out the spreads of cryptocurrencies on your potential platform of choice, the maker/taker fees if the platform is an exchange, and see if they charge anything on deposits and withdrawals,
Last but not least, it is recommended to go with a broker that supports a good range of fiat-friendly deposit and withdrawal solutions, especially if you are new to cryptocurrencies.
Italy Crypto Brokers Q&A
The vast majority of Italy-friendly brokers and exchanges support numerous fiat-based payment solutions, so you will not find it difficult to deposit or purchase crypto via your platform. Typically, you will be able to initiate transactions via credit or debit cards, bank transfers, or digital wallets.
Italian legislation permits brokers that have licences from the financial regulators of European jurisdiction to operate in Italy, even without a CONSOB licence. As for whether or not such brokers are safe, firstly, check if they are licensed with one of the regulators that oversee the operations of one of Europe’s financial markets. Next, you will need to make sure that they are being truthful about their licence, which you can do by going to the regulator’s register.
Yes, the Euro is one of the major fiat currencies in crypto trading platforms, and the vast majority of brokers and exchanges you come across will include it among their base currencies. You can also rest assured that each platform’s fiat-based deposit and cashout solutions will, typically, be Euro-friendly.
What leverage can I trade cryptocurrencies with if I live in Italy and do not plan on becoming a professional trader?
As brokers that are licensed to operate in Italy are governed by the laws of MiFID, you will have access to leverage of up to 2:1.
Italy’s government recently greenlit the decree that will see MiCAR implemented by the end of 2024. Crypto trading is not currently illegal, however, and there are plenty of reputable brokers and exchanges that cater to Italian crypto traders.