Best Forex Brokers in Israel 2023

Recently, a huge number of forex brokers started from Israel while having registration in Cyprus or other offshore locations. However, the brokers don’t need to follow any local Israeli regulations. Therefore, if you are trading from Israel, you may face a dilemma in choosing a legit best forex broker. To remove any confusion from your end, we have researched the best forex brokers in Israel and come up with the top brokers’ list in this article.

Additionally, we also explained how did we choose each broker and what our benchmark was.

Best Forex Brokers in Israel List:

• FP Markets
• FxPro
• IC Markets
• FBS Markets
• XM
• BlackBull Markets
• HF Markets
• Axi
• Oanda
• Pepperstone

RANK	VISIT BROKER	REGULATION We only list licensed brokers that comply with the requirements of prominent regulatory agencies.	MIN DEPOSIT The minimum amount you need to deposit in order to start trading.	DEPOSIT BONUS	RATING	MAX LEVERAGE Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.	PAYMENT SYSTEM	SUPPORT	START TRADING
1		ASIC, CySEC, FSP	$100	No Bonus	99 Read Review	1:500		Telephone: +44 28 2544 7780	Open an Account More Information
Pros Excellent education tools Low forex fees Fast account opening Easy funding methods Cons No bonuses Platforms & Devices READ FULL REVIEW
2		ASIC, CySEC, FSA, SCB	$200	No Bonus	94 Read Review	1:500		Telephone: +248 467 19 76	Open an Account More Information
Pros Low forex fees Fast order execution Analytical training materials 90+ instruments Cons Slow live chat support Non-EU traders don’t get investor protection Platforms & Devices READ FULL REVIEW
3		FSA	$0	No Bonus	92 Read Review	1:500		Telephone:	Open an Account More Information
Pros 9 base currencies 24/7 technical service Direct market access VPS, FIX API, copy trading Superior trading conditions Cons No negative balance protection Withdrawal fees Platforms & Devices READ FULL REVIEW
4		FCA, CySEC, FSCA, SCB	$100	No Bonus	91 Read Review	1:100		Telephone: +44 (0) 203 151 5550	Open an Account More Information
Pros Excellent customer service Free deposit and withdrawal Negative balance protection Wide range of platform Cons Inactivity fee High Trading Fees for some CFDs Platforms & Devices READ FULL REVIEW
5		ASIC, FCA, CySEC, SCB	$100	No Bonus	90 Read Review	1:500		Telephone:	Open an Account More Information
Pros Fully digital account opening Low forex fees Research tools Free Education Resources Cons No bonuses Platforms & Devices READ FULL REVIEW
6		ASIC, CySEC	$1	100%	90 Read Review	1:3000		Telephone: +35 7251 23212	Open an Account More Information
Pros No withdrawal fee Low stock and stock index CFD fees Negative balance protection No inactivity fee Cons Average forex CFD fees No PAMM accounts Platforms & Devices READ FULL REVIEW
7		ASIC, CySEC, FSC	$5	Up to $5000	88 Read Review	1:1000		Telephone: +501 223-6696	Open an Account More Information
Pros Low withdrawal fees Great educational tools Wide range of leverage Multilingual customer support Cons Non-EU traders don’t get investor protection Lack of weekend customer support Platforms & Devices READ FULL REVIEW
8		FCA, DFSA, FSCA, FSA, CMA	$5	100%	85 Read Review	1:1000		Telephone: +44-2030978571	Open an Account More Information
Pros Low spread Controlled by several regulators Numerous deposit and withdrawal Favorable trading conditions Cons Few account currencies Only USD or EUR as base currencies Platforms & Devices READ FULL REVIEW
9		ASIC, FCA	$0	No Bonus	78 Read Review	1:500		Telephone: +61 2 9965 5830	Open an Account More Information
Pros Automatic insurance coverage Low entry threshold Fully digital account opening Low forex fees Cons Limited research tools Only forex and CFD trading Platforms & Devices READ FULL REVIEW
10		FCA, ASIC, DFSA	$200	No Bonus	75 Read Review	1:500		Telephone: +1786 628 1209	Open an Account More Information
Pros Digital account opening process Seamless deposit and withdrawal Attractive trading conditions No inactivity fee Cons No cent account Few analytical materials Platforms & Devices READ FULL REVIEW

Is Forex Trading Legal in Israel?

Yes, forex trading is legal in Israel as the Israeli Securities Authority (ISA) overlooks the forex, commodities and futures brokers. However, they only regulate the instructional brokers instead of the retail brokers. The country follows UK’s FSA model. That being said, you may ask if retail forex trading in Israel is legal.

Retail trading is also legal as long as you choose any regulated forex brokers in Israel that have offshore registration. So, you can choose the regulated forex brokers list in Israel that are regulated by CySEC, FCA, FSA or any top regulatory body. Thus, your investment will be in the safe hand.

How Did We Choose the Best Forex Brokers in Israel?

The goal is to enlighten you with the idea of what you should be looking into when deciding who you will trust with your hard-earned money. 

When looking at forex companies in Israel, there are several factors that you should consider. You need to know what to look for and what questions to ask before choosing forex brokers in Israel. The following factors will ensure you have chosen a company that has your best interests at heart and is the right fit for your trading style. In addition, it will prevent you from losing money because of a bad deal with a forex broker.

So, we have checked the following criteria when sorting out the Israel forex broker. These are:

Regulation and licensing

What are the legal requirements for operating in the country where the broker is located? Check if there are any disputes or pending activities against the company name before signing an account with them. Check out what kind of licensing or special permits they need to operate as a forex business in their country of operation.

Software and Platforms

What platform does the broker offer? Check if it is reliable and compatible with other indicators or Expert Advisors that you may use for analysis or fundamental research purposes. The platform should offer different charting tools for technical analysis, and you should also be able to use them to execute trades as well as monitor your open positions on mobile devices.

What type of trading platform does the broker use? Most brokers in Israel use MetaTrader 4 (MT4) as their base platform, but some also have proprietary platforms that they develop and sell to other traders, such as cTrader. However, the MT4 is considered the best Forex Trading Platforms Israel as it has many good tools and free indicators that you can easily plug into your plan or even use one of the many demo trading accounts offered by the broker to learn all about using MT4, before deciding on a broker.

Also, check what the platform’s stability is like. This can be determined by how often the platform crashes and how fast it is at receiving market updates, which are usually sent in real-time.

Also, check if the broker has apps for android and IOS platforms.

Does the Broker have Enough Capital?

The forex broker you choose should be well-capitalized at all times to avoid any possible insolvency or bankruptcy issues. Contact the local regulator where the company is located and get information on its latest financial status report and be sure that it is financially sound before opening an account at the broker’s platform.

Segregated Bank Accounts

Does the broker have segregated bank accounts for the traders? This will help you check your deposit status and how much money you have for trading. Also, it doesn’t mix with the company’s funds. So, your deposit remains separate safely.

Customer service

Does the broker provide efficient and responsive customer support? You want to be able to contact a live agent when you have questions, so you can get real-time help from an expert in the trading field. Whether it’s your first time using MT4 or your tenth time, you need someone who can help you learn about trading methods and how to use them effectively for success in forex trading in Israel.

Trading Fees

What is the broker’s trading fee schedule? Some Israel forex brokers charge different fees based on the amount traded, while others charge the same amount regardless of the magnitude of your trades. Before choosing the best forex brokers in Israel, find out all fees and commissions from the various trading platforms you are considering.

Ask for their trading fees, which should include spreads for all the currency pairs traded, plus any maintenance or other hidden fees that may be added on top of the trading fee. You especially want to avoid hidden fees that may be passed on to you as a commission by the brokers, like per-market fees or transaction charges.

Transaction Methods

Does the broker offer banking options or tools that they can use to transfer money from your account or accept deposits and withdrawals? This is extremely important because you need to make sure that you have a steady supply of trading capital without long delays to your funds and without any unnecessary fees being added on. Ensure that there are no hidden fees involved as well.

Does the broker offer trading use a credit card or debit card? This is important for you to consider, as a lot of foreign exchange brokerages will not accept it due to their stringent requirements. Also, most brokers offer bank wire transfers too. So, make sure the broker offers all types of options. It will help you alter the transaction methods if your preferred one doesn’t work at any moment.

Minimum deposit requirement

The minimum deposit requirements of a forex broker depend on many factors, such as the company’s location, financial standing, regulatory requirements and commission structure. But the main thing you should be looking at is the number of funds that you can use to qualify as a client of the brokerage.

Margin requirements

The brokerage you choose should have low margin requirements or a higher leverage ratio to help you increase your earnings. You may even want a broker that offers unlimited leverage for some currency pairs.

Currencies

Does the broker’s platform offer all of the currency pairs that you are interested in trading? Find out which currency pairs are available on their platform and also check if they have any exotic or less commonly traded currency pairs through their third-party liquidity providers.

Conclusions

The choice of the best forex brokers in Israel is an important decision. Do not make haste to deposit your hard-earned money with a forex broker unless you are certain that you have found the best one.

We have compiled some guidelines and things to look for when selecting a forex broker, as well as some information about what makes a company the right fit. Hope the guideline helped you to choose the best broker. But, if you don’t have much time to check all these criteria, you may just pick a broker from our Israel forex brokers list mentioned in this article.

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