Best Online Forex Brokers In Israel

Best brokers for Forex trading in Israel compared

RoboForex

RoboForex Review

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In 2009, RoboForex Ltd. was established. RoboForex has been offering trading services on a global basis ever since it entered the market for Forex brokers. The broker specializes in trading automation solutions such as the CopyFx auto trading platform, as well as the bot builder. RoboForex supports both 12,000+ CFDs, as well as direct trading in US shares with extra low fees from 0.09 cent per share.

The account type selected on the interface at RoboForex will determine the spreads. For EUR USD, the spreads' is ranging from 0.03 to 1.4 pips for different account types. RoboForex provides 0% fee on all deposits and withdrawals.

RoboForex is generally governed by Belize's Financial Services Commission. At RoboForex, there is a civil liability insurance program in place that offers industry-leading defense against errors, fraud, omissions, negligence, and other risks that might result in losses for clients.

Admiral Markets

Admirals Review

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Admirals is a Forex and CFD brokerage that has been in business since 2001 and is subject to strict regulation. The Australian Securities and Investments Commission and the Financial Conduct Authority have registered the broker's activities and granted them licenses. Admirals has built a solid reputation as a reliable, open brokerage since its inception.

Regardless of the size of the transaction, Admiral Markets has performed well in trading operations. On the broker's website, you can access both tight spread accounts for experts and a demo account, which may be helpful for new traders. Admiral Markets' primary benefits include its commitment to providing excellent customer service.

Admiral Markets provides its clients with extra trading funds through the "Zero to Hero" program. It can be withdrawn only after bidding. From time to time, the company updates its bonus programs, offering favorable conditions.

XM Group

XM Group Review

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XM Broker offers optimal trading conditions suitable for both beginners and experienced traders. It provides cent, standard, and ultra low spreads accounts, accommodating minimum deposit requirements for loyal clients, and offers leverage in compliance with European regulatory standards.

The XM Broker is a market maker in the international financial market. This means that XM Group has direct liquidity access, enabling the provision of optimal quotes to traders. Ultra account spreads start from 0.6 pips, while Zero account spreads start from 0 pips. The company assures minimal slippage irrespective of market volatility and offers competitive spreads during sudden price fluctuations.

AvaTrade

AvaTrade Review

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AvaTrade is a good choice for traders from Israel since its broker complies with all the requirements of the top global regulators. AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs.

AvaTrade offers several educational resources and trading tools for Forex and CFD enthusiasts. They are among the best Forex brokers for beginners because of the attractive trading conditions they provide. AvaTrade offers a minimum trade deposit of $100 and leverage from 1:30 to 1:400.

eToro

eToro Review

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

eToro is a popular choice for Izralian traders seeking a user-friendly and regulated Forex trading platform. With its innovative social trading features, eToro allows traders to follow and copy successful investors, making it an ideal choice for beginners. The platform is regulated by the Cyprus Securities and Exchange Commission (CySEC), providing a level of security for Izralian  traders. For spreads, eToro offers competitive pricing, particularly on major currency pairs like EUR/USD starting at 2 pips with leverage up to 1:30. The minimum deposit requirement is $50, accommodating both new and experienced traders. eToro's forex trading options include a wide range of currency pairs, and their user-friendly interface makes executing trades seamless.  The platform's social trading community and educational resources are valuable tools for those looking to enhance their trading skills.

OANDA

OANDA Review

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OANDA is a forex broker with over 19 years of experience in the forex market. It is registered in the USA. It provides its clients with a fairly wide range of financial services in Israel and almost all countries of the world. OANDA clients have the opportunity to trade with a broad range of financial products in the US and Japan; Forex and CFDs (contracts for difference) in Canada, UK, EMEA, APAC, and Australia. OANDA’s platform offers exceptional execution, with sophisticated trading tools, and advanced charting packages with an extensive range of leading-edge indicators and drawing tools powered by TradingView.

OANDA provides the following withdrawal methods: Visa, Mastercard, PayPal, wire transfer.

It is important to note that most transactions are commission-free. The exception is withdrawals to credit cards. More than one withdrawal per month to a credit card is charged a commission of $15.

Is Forex trading legit in Israel?

Israel's government services and information website

In Israel, trading foreign currency pairs is fully legitimate, offering more lenient conditions compared to major markets like the UK and EU. Local regulations influence leverage levels, advising residents to opt for licensed local brokers. While trading with offshore brokers is legal, choosing a broker adhering to major regulators is recommended to avoid potential issues related to fraud or questionable business practices.

The Israel Securities Authority (ISA) overseas Forex trading regulation in the country. In response to offshore brokers exploiting lax regulations, the ISA implemented stringent licensing, monitoring, and auditing standards in 2015. Brokers must maintain specified capital levels, segregate customer deposits, and inform potential customers about market risks. Although leverage restrictions were introduced, they are slightly higher than those in the EU. Traders can verify a local broker's license on the ISA website, but offshore brokers remain an option.

To legally operate in Israel, Forex brokers must obtain licenses from the ISA, adhering to various restrictions and conditions. Foreign trading companies need substantial operational capital to manage market volatility and operating risks. Monthly trading activity records must be submitted to the ISA, and broker categories are determined by starting capital. The minimum capital requirement for a license application is ₪800,000 (approximately US$200,000), leading to limited licenses with robust regulatory oversight.

Is Forex safe in Israel?

Forex trading in Israel is considered safe, primarily due to the stringent regulation overseen by the Israel Securities Authority (ISA). The Bank of Israel actively manages the country's foreign exchange reserves, exceeding $200 billion, which is approximately 40% of its GDP. This measure aims to prevent undue strengthening of the shekel and provide support to exporters. Israel's removal of most foreign exchange controls in the 1990s allows individuals and companies to freely manage offshore bank accounts and conduct unilateral transfers. Despite recent geopolitical tensions between Israel and Palestine, the safe-haven status of the dollar and yen has contributed to a sense of security in the Forex market.

How to choose a Forex broker in Israel?

When selecting a Forex broker in Israel, several crucial factors demand careful consideration.

Despite variations in market activity, the Forex market operates 24 hours a day across different global regions, commencing at 5 p.m. EST on Sunday and concluding at 4 p.m. EST on Friday.

Best Forex pairs for Israel clients

Each of these below listed pairs presents distinct opportunities and considerations for traders in the Israeli Forex market.

Each of these pairs presents distinct opportunities and considerations for traders in the Israeli Forex market.

What is the best time to trade Forex in Israel?

What are the best Forex brokers for beginners in Israel?

For novice traders venturing into the world of Forex in Israel, selecting a broker tailored to beginners' needs is crucial. The ideal brokers for beginners offer a combination of features that facilitate a smooth initiation into currency trading.

Low minimum deposit

Forex brokers with a low minimum deposit requirement are advantageous for beginners. This allows individuals to start trading with a modest investment, minimizing the initial financial commitment and risk. Brokers offering flexibility in deposit amounts cater to a broader audience, including those who may be cautious with their initial investments.

Demo and cent accounts

A vital feature for beginners is access to demo and cent accounts. Demo accounts provide a risk-free environment for individuals to practice and familiarize themselves with the trading platform. Cent accounts, on the other hand, allow traders to engage in live trading with real money, albeit in smaller denominations, providing a valuable transition from theoretical learning to practical experience.

Passive income options

For beginners looking to ease into trading, brokers that offer passive income options such as copy trading and PAMM accounts are highly beneficial. Copy trading allows beginners to mimic the trades of experienced investors, providing an avenue to learn from seasoned professionals. PAMM (Percentage Allocation Management Module) accounts enable investors to allocate funds to experienced traders, letting experts manage their portfolios and generate returns, making it a passive income option.

Educational materials

A key criterion for selecting a broker suitable for beginners is the availability of comprehensive educational materials. Quality educational resources, including tutorials, webinars, and written guides, helps beginners with the knowledge and skills needed to make informed trading decisions. Brokers that prioritize education contribute significantly to the development and confidence of novice traders.

Here are the best Forex brokers in Israel:

RoboForex

RoboForex Review

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RoboForex, established in 2009, stands out as a prominent figure in the Forex industry, celebrated for its cutting-edge software development and high client satisfaction levels. The company has garnered recognition from esteemed financial market experts and boasts numerous prestigious awards, holding an international license from FSC Belize (license No. 000138/437).

As a reliable broker, RoboForex caters to those seeking to invest in the Forex market with a comprehensive suite of offerings. One standout feature is the RoboForex CopyFx investment program, a pathway to passive income requiring minimal effort. This program, highly praised in customer reviews, solidifies RoboForex's status as a preferred brokerage company.

For those considering entry into the Forex market, RoboForex beckons with a low minimum deposit of just $100, providing an accessible entry point for investors. Once initiated, investors gain access to professional traders' ratings, offering insights into account longevity, profitability, maximum drawdown levels, and other pertinent statistics. The direct communication channel between investors and traders adds an interactive dimension to the trading experience.

A notable feature of RoboForex is its Strategy Builder, a potent tool that helps traders to devise and test trading strategies without the intricacies of coding or the need for additional software downloads. This functionality, available at the click of a button, facilitates both seasoned and novice traders in automating their trading operations.

The Strategy Builder holds significant value for traders by streamlining strategy development and testing processes, saving valuable time and effort. Moreover, its automation capabilities eliminate the need for manual intervention, ensuring precise and timely execution. The RoboForex Strategy Builder emerges as a pivotal asset for traders, offering a user-friendly platform to optimize and enhance their overall trading experience through automated strategies.

eToro

eToro Review

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

eToro, renowned as a social trading and investment platform, distinguishes itself with an impressively low minimum deposit requirement, standing at only $10 in the United States and the United Kingdom. However, in other nations like Australia, Germany, and France, the minimum deposit slightly increases to $50.

Notably, the average spreads for EUR/USD and GBP/USD are one pip and 1.2 pips, respectively. Withdrawals incur a fixed $5 commission for each transaction, with additional fees applicable for certain payment systems. The minimum withdrawal amount stands at $30, rising to $500 for bank transfers.

A notable feature of eToro is its commission-free stock trading for all U.S. users, eliminating fees for buying and selling stocks and simplifying the stock market investment process.

eToro's investment programs, including CopyTrader, helps users to automate trading by mimicking the strategies of successful traders. Noteworthy is the commission-free trading of stocks and the straightforward process of buying and selling ETFs with low minimum investment requirements.

Offering two primary trading platforms, the web-based eToro platform (Webtrader) and the mobile app (Openbook), eToro provides a user-friendly experience. The WebTrader 2.0 allows clients to manage trades directly, place orders, and monitor positions. On the other hand, Openbook facilitates easy identification of traders to follow, along with streaming activity, trades, and discussions on a personalized wall.

In terms of education, eToro stands out as an excellent choice for novice traders. Beyond regular articles elucidating trading terminology and offering tips, eToro provides free webinars, FAQs, and videos tailored for beginners, fostering skill development in the world of trading.

XM

XM Group Review

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Founded in 2009, XM Broker initially focused on a niche market, providing intermediary services exclusively for the foreign exchange market. Over the years, it has evolved into an internationally recognized broker, operating in nearly 190 countries and attracting over 5 million traders with its innovative technological solutions.

XM Broker stands out for its reliability and safety, offering a diverse range of services. While the broker has traditionally catered to active traders, it acknowledges the importance of passive income for novice traders. XM Group, part of the XM Broker brand, presents various options for passive income to complement active trading strategies.

For those seeking passive income, XM Broker introduces investment programs that serve as a valuable addition to active trading. Although the broker primarily focuses on professional trading services and doesn't emphasize passive investment programs, it provides essential support services that merit closer examination.

Among these support services, MQL5 Trading Signals stands out. MQL5 is a global community of traders on the MetaQuotes platform, the developer of Metatrader. XM Broker offers direct access to MQL5 trading signals, allowing traders to tap into the expertise of seasoned traders with a track record of successful trading for over a month. Additionally, traders gain direct access to the programming environment, enhancing their capabilities directly within the broker's trading terminals. This comprehensive approach by XM Broker addresses the needs of both active and passive traders, making it a noteworthy choice in the competitive landscape of Forex brokers.

How to verify ISA authorisation?

To verify if a broker is authorized by the Israel Securities Authority (ISA), you can follow these steps in a straightforward manner:

Visit the ISA Website

Go to the Israel Securities Authority (ISA) website. On their site, you can find a list of companies and individuals who hold valid licenses for investment advising, marketing, and portfolio management.

Check the Database

The ISA provides an accessible database containing the names of licensed companies and individuals. You can search for the specific broker you're interested in to ensure they are authorized.

Contact ISA Office

If you have any doubts or need additional information, you can contact the ISA office directly. They can provide guidance and, if necessary, supply you with the required forms to fill out an ISA application.

Do I pay taxes for Forex trading in Israel?

In Israel, individuals engaging in securities trading, including Forex trading, are generally liable to pay capital gains tax on their profits. The applicable tax rate for capital gains is contingent upon various factors, including total income. It's essential to recognize that these tax rates can be subject to change, and staying informed about the latest regulations is advisable. To ascertain the most up-to-date information, consulting with a tax professional or referring to the Israeli Tax Authority is recommended.

The capital gains tax rates for individuals in Israel were structured as follows: