CONSOB Regulated Brokers, All 13 in the Register

Thirteen brokers in the WIKILIX database are recorded as holding a licence from Italy's Commissione Nazionale per le Società e la Borsa, the CONSOB, and this page ranks every one of them by overall score. Eleven carry a clean status in our records. Two do not, and they stay on the list, because a register that hides its own flagged entries is worth less than one that shows them.

The scores run from 37.2 at the bottom to 72.5 at the top, with a median of 61.3. Interactive Brokers leads, open since 1996 and carrying eleven separate licences in our data with CONSOB among them. Seven of the thirteen opened before 2010, and the oldest by opening date is AKBANK, on the books since 1948, listed here as a bank with a CONSOB registration rather than a retail trading desk.

What a CONSOB entry means, and what it does not

CONSOB is Italy's market conduct authority, in operation since 1974, and in the WIKILIX tiering it sits at tier 2. A firm holding or passporting a CONSOB authorisation falls under the European product rules the authority enforces. Retail leverage on the major currency pairs is capped at 30:1. Client money must be held apart from the firm's own funds, and a retail account cannot be driven below zero. That is what the licence buys. It is not a ranking, and it says nothing about spreads, execution or how well the firm suits you.

Twelve of the thirteen also hold at least one tier-1 licence, from the FCA, ASIC or BaFin among others, which we read from our regulator records rather than from the broker cards. The one exception is Banca Akros, part of the Banco BPM group, whose only entry in our data is CONSOB itself.

The two entries we flagged

Ranked third and fourth by score, above several clean firms, sit the two a reader should not miss. Triomarkets carries a suspicious clone label in our records, and NSBroker a scam label. Both reference a CONSOB licence, which is exactly why they belong on a page like this. A scraped list that includes them unmarked, as regulated, is the failure this page exists to prevent. The label on each card is WIKILIX's own recorded status, and it is the first thing to read on those two rows.

Why most of these are not Italian firms

Only two of the thirteen, Fineco and Banca Akros, are companies headquartered in Italy. The rest reach Italian clients another way. Saxo Bank is domiciled in Hong Kong in our data and holds CONSOB next to the FCA and MAS. Admirals is a Seychelles entity with nine licences and a maximum leverage recorded at 1:1000. FXTIME and Numisma are Cyprus firms passporting in under European rules. A CONSOB line tells you a firm can be marketed to Italian traders. It does not tell you the company you contract with is based in Italy, and usually it is not.

Before you lean on a CONSOB line

• Confirm the firm on CONSOB's own register and check whether the entry is a direct Italian authorisation or an EU passport from another member state.
• Match the legal entity, not the brand: Admirals SC Ltd in the Seychelles is not the same counterparty as a European Admirals entity.
• Check which entity will actually hold your account, since a group can passport one licence while booking you against another.
• Read the two flagged rows as a prompt to verify, never as an endorsement, whatever score sits beside them.