Economy
Financial Analysts Have Compiled A List Of The Best Prop Firms In Italy In 2023
Prop trading in Italy is an appealing option for traders, mainly because it lets them use significant trading money without risking their own. It’s a chance to make profits in Forex without using personal funds. Top prop trading firms also offer helpful resources like training and advanced tools, which can improve trading skills. Traders Union (TU) experts will help Italian traders find reliable Forex proprietary trading companies in Italy.
The best Forex prop trading firms in Italy
Proprietary trading firms in Italy offer exciting opportunities for traders to grow their investments. TU’s analysts have handpicked some of the best prop firms in Italy:
- TopStep
- Funding program: TopStep’s Trading Combine allows you to showcase your trading skills without risking personal funds.
- Quick qualification: you can qualify for a funded account in as little as eight trading days.
- Range of services: TopStep offers training, tools, and bonuses to help traders succeed.
- Platform variety: it supports multiple trading platforms, giving traders options to choose from.
- Pricing: pricing starts at $165 per month for a $50,000 account.
- SurgeTrader
- Profit split: SurgeTrader offers up to a 75% profit split for funded traders.
- Packages for all: traders can choose from six different packages, tailored to their experience level.
- Diverse assets: SurgeTrader provides access to various tradable securities, including cryptocurrencies and stock indices.
- Audition process: to join, you need to pass an audition, with fees ranging from $250 to $6,500.
- FTMO
- Three-step qualification: FTMO evaluates traders through a three-step process to offer funded accounts.
- Forex focus: FTMO is an excellent choice for Forex traders with access to 44 currency pairs.
- Platform support: it supports popular trading platforms, including MT4, MT5, and cTrader.
- Profit split: traders benefit from an 80/20 profit split, with opportunities for up to 90:10 under the scaling plan.
Italian traders can explore these prop trading firms with different offerings and find the one that aligns with their trading goals and preferences.
Does Forex prop trading make sense in Italy?
Forex proprietary trading means trading with a company’s money, not your own. This can be good and bad for Italian traders. Here’s a look at the main pros and cons, according to experts at Traders Union:
Pros of Forex prop trading:
- Risk-free practice: you can practice without risking your own money with risk-free accounts.
- Bigger trades, more profits: you get access to a lot of money, so you can make big trades and potentially earn more.
- Trusted companies: many prop trading companies in Italy are well-known internationally, so you can trust them.
- Training and help: these firms often offer training and support to improve your skills.
- Share profits: successful traders get a big part of the profits, usually 75-90%.
Cons of Forex prop trading:
- Qualification challenges: it can be hard to join a prop trading program since they have strict requirements for experience.
- Rules and guidelines: you have to follow the company’s rules, which can limit your freedom in trading.
- Less independence: you work under the company’s rules, so you might not have full control over your trading.
Italian traders should carefully think about these pros and cons to see if Forex prop trading suits their goals and risk level.
Legality of prop trading firms
TU’s experts confirm that international prop trading firms can legally operate in Italy, provided they adhere to relevant laws and regulations concerning financial services and investments. While Forex prop companies face less stringent regulation compared to financial brokers, it is advisable for individuals or firms to seek guidance from legal and financial experts well-versed in Italian regulations to ensure compliance with the specific requirements for operating as a prop trading firm in Italy.
Conclusion
Prop trading in Italy offers a unique opportunity for traders to access substantial capital without risking their own funds, with top firms providing valuable resources for skill improvement. Traders Union has identified reputable Forex proprietary trading companies in Italy, including TopStep, SurgeTrader, and FTMO, catering to traders of different experience levels and preferences.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange lost its gaining streak on Wednesday, July 22, after it fell by 0.24 per cent despite the presence of five price gainers.
Yesterday, the market capitalisation went down by N6.32 billion to N2.631 trillion from the previous session’s N2.637 trillion, and the NASD Security Index (NSI) depreciated by 10.49 points to 4,383.48 points from 4,393.97 points.
The poor outcome was caused by the losses recorded by two securities, led by FrieslandCampina Wamco Nigeria Plc, which lost N5.60 to settle at N147.55 per unit compared with Tuesday’s closing price of N153.15 per unit, and Central Securities Clearing System (CSCS) Plc, which tumbled by N1.01 to N98.32 per share from N99.33 per share.
On the flip side, Nipco Plc added N38.00 to sell at N422.00 per unit versus N384.00 per share, Afriland Properties Plc gained 75 Kobo to close at N15.76 per share versus N15.01 per share, Geo-Fluids Plc improved by 23 Kobo to N2.53 per unit from N2.30 per unit, Industrial and General Insurance (IGI) Plc appreciated by 2 Kobo to 52 Kobo per share from 50 Kobo per share, and Food Concepts Plc increased by 1 Kobo to N2.49 per unit from N2.48 per unit.
At midweek, the volume of securities surged by 3,438.9 per cent to 11.4 million units from 322,147 units, the value of securities rose by 122.2 per cent to N43.1 million from N19.4 million, and the number of deals jumped by 81.5 per cent to 49 deals from 27 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units exchanged for N5.4 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Dipo Olowookere
The domestic stock exchange slipped into the negative territory on Wednesday by 0.50 per cent after the consumer goods sector closed lower by 5.04 per cent despite the gains recorded by the other key sectors.
The insurance index shed 1.64 per cent, the banking space gained 1.51 per cent, and the industrial goods segment expanded by 0.81 per cent, while the energy counter closed flat.
At the close of business, the market capitalisation declined by N800 billion to N158.319 trillion from N159.119 trillion, and the All-Share Index (ASI) shrank by 1,241.19 points to 245,418.37 points from 246,659.56 points.
The duo of BUA Foods and Nestle Nigeria crumbled by 10.00 per cent each to N845.10 and N2,812.50, respectively. Mecure lost 9.94 per cent to trade at N69.30, International Energy Insurance slumped by 9.84 per cent to N4.40, and UAC Nigeria dipped by 7.75 per cent to N184.45.
On the flip side, the trio of Unilever Nigeria, Trans-Nationwide Express, and Cadbury Nigeria improved by 10.00 per cent each to quote at N137.50, N3.08, and N137.50, respectively. Thomas Wyatt moved up by 9.95 per cent to 4.09, and UPDC REIT jumped by 9.40 per cent to N12.80.
A total of 37 stocks ended on the advancers’ chart and 28 stocks finished on the laggards’ log, indicating a positive market breadth index and bullish investor sentiment.
Market participants transacted 1.3 billion shares worth N158.3 billion in 47,458 deals at midweek, in contrast to the 932.5 million shares valued at N49.3 billion traded in 50,059 deals in the preceding day. This implied that the number of deals declined by 5.20 per cent, while the trading volume and value increased by 39.41 per cent and 221.10 per cent, respectively.
First Holdco led the activity chart, with a turnover of 736.0 million units valued at N80.8 billion, Access Holdings exchanged 79.6 million units for N2.1 billion, GTCO transacted 34.1 million units worth N4.4 billion, Mutual Benefits sold 24.4 million units valued at N85.3 million, and Zenith Bank traded 21.5 million units for N2.6 billion.
By Adedapo Adesanya
The Naira further appreciated against the United States Dollar by N5.68 or 0.41 per cent to N1,369.63/$1 on Wednesday, July 22, from the preceding session’s N1,375.31/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX).
Similarly, the Nigerian currency improved its value against the Pound Sterling in the official market during the session by N8.01 to trade at N1,833.12/£1 compared with the previous day’s N1,841.13/£1, and against the Euro, it gained N4.75 to sell at N1,563.03/€1, in contrast to Tuesday’s closing price of N1,567.78/€1.
In the same vein, the Naira strengthened its rate against the US Dollar in the black market yesterday by N5 to quote at N1,400/$1 compared with the N1,405/$1 it was traded a day earlier, and at the GTBank FX desk, it chalked up N5 against the greenback to settle at N1,383/$1 versus N1,388/$1.
FX liquidity was boosted by inflows from foreign portfolio investors, exporters and non-bank corporates. The significant liquidity and strong investor sentiment aided the naira recovery from the recent slump.
As a result, total turnover settled at $416.420 million on Wednesday, up by 29 per cent from $322.664 million recorded the previous day.
The number of deals counted at the NAFEM window also increased to 198 from 110 on Tuesday, signalling higher demand for foreign payments matched adequate FX inflows.
With more than $52 billion in gross external reserves, analysts said the FX market is expected to remain stable in the near term.
As for the digital currency market, Bitcoin (BTC) slipped by 0.4 per cent to $65,658.75 as rising oil prices and higher Treasury yields pressured risk assets and weighed on major cryptocurrencies, which later saw some recovery.
Market sentiment was further dampened by an apparent escalation in US military strikes linked to Iran, while traders also looked at regulatory uncertainty as key US Senate Democrats criticised the latest draft of the Digital Asset Market Clarity Act, which is designed to define and separate regulatory oversight for cryptocurrency, stablecoins, and digital commodities.
Dogecoin (DOGE) crashed by 0.1 per cent to $0.0724, and TRON (TRX) dropped 0.01 per cent to trade at $0.3287, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
However, Cardano (ADA) rose by 1.6 per cent to $0.1741, Ethereum (ETH) gained 0.2 per cent to close at $1,921.85, Binance Coin (BNB) also grew by 0.2 per cent to $569.38, Ripple (XRP) increased by 0.1 per cent to $1.13, and Solana (SOL) soared by 0.02 per cent to $77.50.
