This study compares the self-perception of first (L1) and second (L2) language competence and dyslexia awareness in two groups of dyslexic students, one German and one Italian, learning English as a second language. Based on a survey, we investigate the relationship between students’ self-perception of their L1 and L2 competence, and how perceived L1 competence, L2 learning motivation, time of dyslexia diagnosis, and typological similarity between L1 and L2 modulate their perceived L2 competence. The findings indicate that L1 and L2 self-perception are interdependent, and that high motivation for language learning predicts better self-perception of L2 competence. Differences emerged between the two groups’ perceived L2 competence and motivation for language learning. Moreover, while students themselves are aware of the implications associated with dyslexia, they perceive a lack thereof amongst their teachers and peers, leading to negative emotions, such as shame, lack of self-esteem, and motivation to engage in foreign language learning.