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15 Best Forex Brokers in Israel

15 Best Forex Brokers in Israel

 

Forex Brokers Israel

 

Finding the list of the Best Forex Brokers in Isreal and worldwide can be a difficult process, especially finding a list of trustworthy brokers who accept Israeli traders and who allow these traders to invest in their currency, the new Israeli Shekel(ILS).

Israel is a country based in Western Asia with a population of approximately 8,884 Million Potential Forex TradersIsrael is considered the most advanced country in Western Asia and the Middle East with Tourism, especially religious tourism, playing a major economical role.

Here are our 10 Best Handpicked Forex Brokers in Israel:

 

Trading Forex is legal in Israel and the local market is regulated by the Israel Securities Authority (ISA) and Israeli Forex Traders can make their choice of the broker from 15 of the Best Globally Regulated Forex Brokers and Trading Platforms available.

 

IG Broker Review

 

IG

 

IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.

 

Pros and Cons

 

Pros Cons
Used by 178,000+ traders Inactivity Fee
Established in 1974 Limited range of instruments
Regulated by Financial Conduct Authority and ASIC
Min. deposit from $250

 

The country of a trader’s residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs, and options.  Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account PayPal
Low min deposit Payoneer
Guaranteed stop loss

 

Customer Service is available 24/7 via Phone, Live Chat and Email.

 

 

Swissquote Broker Review

 

Swissquote

 

Swissquote Bank offers traders the ability to trade in Forex, CFDs and Options on a variety of asset classes which includes Currency pairs, FX Options, Metals, Indices, Commodities and BondsTraders can choose to trade on a variety of trading platforms including the bank’s own Advanced Trader platform and MetaTrader 4 and 5.  Swissquote Bank Ltd holds a banking licence issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.

 

Pros and Cons

 

Pros Cons
·         Multiple Trading Platforms ·         Spreads are slightly higher on average in Swiss accounts than in EU accounts

 

·         Swiss accounts receive the benefit of funds held in Swiss Tier 1 bank accounts with an IBAN for seamless international trading ·         Confusing array of services
·         Zero-commission and from 0.0 spreads accounts ·         High minimum deposit amounts
·         Various plugins
·         Great educational resources

 

Trading benefits

 

Assets Offered: Accounts Offered: Funding Types:
Currencies Demo Credit
CFDs Standard Debit
Shares Premium Bank Wire Transfer
Stocks Prime Union Pay
Commodities Professional
Precious Metals
Bonds

 

Customer support is offered in ten different languages via Live Chat, Telephone, Email and an Online Contact Form.

 

Saxo Bank Broker Review

 

Saxo Bank

 

Saxo is a globally regulated, multi-asset class broker that offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.

 

Pros and Cons

 

Pros Cons
Segregates client funds Doesn’t allow hedging
Established in 2012 Limited range of instruments
Regulated by Financial Conduct Authority Not ASIC Regulated
Min. deposit from $6,500

 

The Saxo Group is regulated in 15 jurisdictions including authorization from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Offers STP Mini account Bank Transfer
Low min deposit Standard account Payoneer
ECN account

 

Customer support is available in nearly 30 different languages via phone, email and an FAQ section.

 

Interactive Brokers Review

 

Interactive Brokers

 

Interactive Brokers was founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

 

Interactive Brokers offers many account types, which fall into two big groups:

 

  • accounts for individual traders and investors
  • accounts for institutions

 

Pros and Cons

 

Pros Cons
·         Low trading cost ·         Pro users incur an account maintenance fee if multiple trades are not made
·         Invest globally in a multitude of products via a single account ·         Not everyone is eligible to open an IBKR Lite account
·         No minimum balance required
·         Tools to bring your trading to the next level

 

Trading benefits

 

Tradable Securities Accounts Offered Funding Methods
Stocks Lite Bank Transfer
Fractional Shares Pro
Bonds
Mutual Funds
ETFs
Options

 

Traders can choose between two different web trading platforms:  The Client Portal and Webtrader and IBKR Mobile, Interactive Brokers’ mobile trading platform, is available both for iOS and Android.  Users can trade on Stock, Forex, Option and Futures – to name but a few.

 

Customer Service is available 24/7 via Live Chat, Phone, and Email.

 

FXCM Broker Review

 

FXCM

 

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD, and Forex trading broker, authorized and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web, and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 1999
Regulated by Financial Conduct Authority
Min. deposit from $1

 

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader, and Professional Clients. A Free Demo account is also made available.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Payoneer
Low min deposit Islamic account

 

Customer Support is available via Live Chat, Phone, Email, and SMS.

 

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Pepperstone broker review

 

Pepperstone

 

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2010
Min. deposit from $200

 

Trading platforms on offer include MetaTrader 4MetaTrader 5, and cTrader. All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account PayPal
Low min deposit MAM/PAMM account Skrill
Offers Negative Balance Protection Islamic account Payoneer
Neteller

 

Pepperstone offers 24/5 multiple language support via email, phone, and live chat.

 

 

Tickmill broker review

 

Tickmill

 

Tickmill is a Forex and CFD broker with licenses from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2014 Not ASIC Regulated
Regulated by Financial Conduct Authority
Min. deposit from $25

 

Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities, and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android, and iOS.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Neteller
Low min deposit Zero spread account
ECN account
Islamic account

 

Multilingual client service is available via Telephone, Email, Online Contact Form, and Live Chat.

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Trading 212 broker review

 

Trading 212

 

Trading 212 is an online broker that was founded in 2006 and offers Stocks trading, Forex trading, Commodities trading, and Indices trading.  Trading 212 is a global broker and has a head office situated in the UK.  Trading 212 is Regulated by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) and is used by over 14,000,000 traders.

 

Pros and Cons

 

Pros Cons
Strict Regulation No US clients
Segregated Client Funds Limited leverage for non-professional clients
Financial Services Compensation Scheme No MT4/MT5
Commission Free Trading  
Intuitive trading platform  
Low Minimum Deposit  

 

Trading 212 are the UK’s number one trading and investment app with over 14,000,000 downloads, thus a large userbase but is not available in the following countries: US

 

Trading benefits

 

Trading Benefits Accounts Offered: Funding Methods:
Allows hedging Invest account PayPal
Offers STP ISA account Skrill
Low min deposit CFD account Visa
Guaranteed stop loss Demo account
Offers Negative Balance Protection

 

Trading 212 offers an outstanding, highly responsive customer service team available 24 hours a day across a variety of platforms and in 16 different languages.

 

HYCM Broker Review

 

HYCM

 

HYCM is an online broker that was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

 

Pros and Cons

 

Pros Cons
Segregates client funds Doesn’t offer VPS
Established in 1977 Inactivity Fee
Regulated by Financial Conduct Authority Limited range of instruments
Min. deposit from $1 Not ASIC Regulated

 

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

a wide variety of instruments and currency pairs are available for trade:

 

  • Over 100 instruments
  • Over 40 currency pairs

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Micro account Credit cards
Allows hedging Mini account Bank Transfer
Low min deposit Standard account PayPal
Islamic account Payoneer

 

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat, and Phone – 24/5.

 

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XM Broker Review

 

XM

 

XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.

 

Pros and Cons

 

Pros Cons
• Low stock CFD and withdrawal fees • Limited product portfolio
• Easy and fast account opening • Average forex and stock index CFD fees
• Great educational tools • No investor protection for non-EU clients

 

XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDsForex trading is available on over 55 pairs, including the major USD, GBP, EUR, and JPY pairs.  Traders must take note that XM does not offer binary options or futures.

 

Trading benefits

 

Trading Features Accounts Offered Funding Methods
Negative Balance Protection Micro Wire Transfer
Low Spreads Standard Credit/Debit
Low Commission XM Zero Neteller
Hedging Allowed UnionPay
Scalping Allowed WebMoney
Qiwi

 

Customer Service is available via live chat, phone, and email support.

 

IC Markets Broker Review

 

IC Markets

 

IC Markets is a regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web, and mobile.  IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2007 Not FCA Regulated
Regulated by ASIC
Min. deposit from $200

 

IC Markets offers traders three main types of live trading accounts to choose from, including  Raw Islamic swap-free accounts and the use of a free demo trading account.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account PayPal
Low min deposit Zero spread account Skrill
ECN account Neteller
Islamic account

 

Customer support is available 24/7 via Live Chat, Phone, and Email.

 

OctaFX broker review

 

OctaFX

 

OctaFX is an online broker that was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.  OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

 

Pros and Cons

 

Pros Cons
Used by 300,000+ traders Doesn’t offer VPS
Established in 2011 Limited range of instruments
Regulated by FSA Not FCA Regulated
Min. deposit from $5

 

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.

 

Trading benefits

 

Trading benefits Accounts Offered Funding Methods
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account Neteller
Low min deposit Standard account
Guaranteed stop loss Zero spread account
Negative Balance Protection STP account
Islamic account

 

Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp, and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

 

AvaTrade broker review

 

AvaTrade

 

AvaTrade is an online broker that was founded in 2006 and offers Forex, CFDs, Spread Betting, and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC, and FCA.

 

Pros and Cons

 

Pros Cons
Used by 200,000+ traders Doesn’t offer VPS
Established in 2006 Not FCA Regulated
Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE, and BVI
Min. deposit from $100

 

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Low min deposit Mini account PayPal
Standard account Skrill
Islamic account Payoneer
Neteller

 

Customer support is available by email, phone, or live chat.

 

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FxPro broker review

 

FXPro

 

FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies tradingFXPro is a global broker with a head office located in the UK. FXPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated brokerFXPro is also a member of the Investor Compensation Fund schemeFXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

 

Pros and Cons

 

Pros Cons
Easy Account Opening Only CFDs and Forex
Excellent Customer Service High Trading Fees
Free Deposit and Withdrawal Inactivity Fee

 

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Micro account Credit cards
Allows hedging Mini account Bank Transfer
Low min deposit Standard account PayPal
Negative Balance Protection Islamic account Payoneer
Neteller

 

FXPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.

 

Conclusion

There are thousands of Forex brokers around the world, and Israel residents can register and trade with each of them. Many Forex brokers may appear similar but there are understated differences that make each broker uniquely suitable for a different type of trader.

 

FAQ’s

 

Is forex trading legal in Israel?

Yes, it is

Which is Israel’s most used forex broker?

Avatrade

Is forex trading a gamble in Israel?

Forex trading anywhere is always a gamble.

How many forex traders are there in Israel?

The estimate is around 150 000 monthly forex traders.

Can you make money with forex trading in Israel?

75% of all traders lose money*

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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FINEXO Review

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