When the whole contention of the Italian economy is raised, it is reasonable to say that it has witnessed its ups and down. Despite these fluctuations, it’s very beneficial to invest in a financially rich country like Italy but to do that you need to understand different ways to make it gainful. One of the most popular formats of investing that has been going on these days is Forex trading, and there are a number of reliable platforms like Fxgm that support this cause.
● Forex market regulation by CONSOB
When you study the working of a Forex market carefully, you will get to know that there is always some regulatory body governing it, similarly, in Italy it’s CONSOB. This term stands for Commissione Nazionale per le Societa e la Borsa infamously known as Italian National Commission for Companies and Stock Exchange. This authoritative body has crucial functions and responsibility which include regulating the role of intermediaries and overseeing investment services.
● Current scenario of the Forex traders
Italy lacks behind in Forex marketing when compared to other European countries which bag a more substantial market and impact because they have focused on developing Forex extensively. Moreover, Italy was never properly helped or backed up by the Central bank to start trade in this area. Though in recent years Italy has gradually begun to see the rise of various reliable platform like Fxgm Italia doing many developments in this specific area.
● Various kinds of brokers in Italy
When it comes to the type of brokers in Italy, there are numerous kinds you can find but the market is dominated mainly by the following two:
1) Homegrown brokers
These are unestablished, customized brands which make use of their own personal platforms to provide services to the clients yet they are still regulated by the CONSOB. Many of these brokers offer great services and products to the clients of Italy which are specifically tailored for their benefit.
2) Brokers originated from established brands
The main distinction between the above brokers and these is that they obtain a license from the regulating body in order to operate, thus making the whole process more authoritative and sanctioned. This in no way means that the homegrown brokers do not fall under the regulations of CONSOB, they are still answerable to the committee for any unfair means if used.
● Future aspect of Forex trading in Italy
There is a significant development potential in this market, and this country has grown to realize the importance of Forex trading immensely in recent years. It is great to see that the interest of the people are secured by the regulating authority so that a safe environment is created. CONSOB is further maintaining good links with the market of other countries to attract more investment. Talking from the aspect of traders and brokers, there is an excellent opportunity striking at every stride of the clock with the presence of platforms like Fxgm, and many more opportunities are created every second.