In Italy, all forex brokers are regulated by both the European Securities and Markets Authority (ESMA) as well as by the Italian Securities and Exchange Commission, in Italian known as the Commissione Nazionale per le Societa e la Borsa (CONSOB). Together, these regulators are tasked with looking after the interests of both brokers and traders, and in particular with protecting non-professional forex traders.
As a large European country, Italy is home to many active forex traders. However, brokers regulated in Italy are also allowed to operate in other EU countries without applying for separate forex broker licenses in those countries. The same of course also applies the other way, which means that many Italian forex traders may be trading with brokers based out of other European countries.