| Updated: May 15, 2024Traders looking for the best broker to offer forex trading to Israelians should take a look at the list we have compiled. We have reviewed a few of the top performers in the Israeli forex trading market, ensuring fair and secure trading conditions for all of their clients. All of the brokers we have covered have been thoroughly tested by our team of experts, evaluating anything from pricing to available platforms, ensuring our readers will be able to make informed decisions when picking the right broker.
Fusion Markets74-89% of retail CFD accounts lose money
Forex.com77.7% of retail investor accounts lose money
Pepperstone75.5% of retail investor accounts lose money
AvaTrade76% of retail investor accounts lose money
Eightcap76.09% of retail investor accounts lose money
Global Prime74-89% of retail CFD accounts lose money
Admirals73% of retail investor accounts lose money
Libertex74.91% of retail investor accounts lose money
Vantage FX
Iron FX67.62% of retail investor accounts lose moneyIsraeli Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1409 | 4.8 ⭐ |
| 2. Forex.com | 1288 | 4.7 ⭐ |
| 3. AvaTrade | 8469 | 4.5 ⭐ |
| 4. Pepperstone | 2398 | 4.5 ⭐ |
| 5. Eightcap | 2133 | 4.3 ⭐ |
| 6. Admirals | 1706 | 4.1 ⭐ |
| 7. Global Prime | 100 | 4.1 ⭐ |
| 8. Libertex | 9328 | 4.0 ⭐ |
| 9. Vantage FX | 3033 | 3.4 ⭐ |
| 10. Iron FX | 0 | N/A ⭐ |
Israeli Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Admirals | 0.1 | 10 | 0.7 | 0.5 |
| 2. Fusion Markets | 0.11 | 0.13 | 0.15 | 0.11 |
| 3. Global Prime | 0.13 | 0.28 | 0.28 | 0.22 |
| 4. Iron FX | 0.7 | 0.4 | 0.9 | 0.8 |
| 5. AvaTrade | 0.9 | 1.3 | 1.2 | 1.3 |
| 6. Pepperstone | 1.0 | 1.0 | 1.2 | 1.0 |
| 7. Vantage FX | 1.0 | 1.0 | 1.2 | 1.0 |
| 8. Eightcap | 1 | 1.1 | 1 | 1 |
| 9. Forex.com | 1 | 1.2 | 1.3 | 1.3 |
Israeli Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. AvaTrade | $0 |
| 2. Libertex | $0 |
| 3. Iron FX | $0 |
| 4. Forex.com | $0 |
| 5. Eightcap | $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts |
| 6. Vantage FX | $3 per side on Raw; $1.50 per side on Pro |
| 7. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 8. Admirals | $3 per lot |
| 9. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 10. Pepperstone | $0 (Standard Account), $7 round-turn (Razor Account) |
Important Note: Forex trading in Israel is regulated under the Securities Law of 1968, with the Israel Securities Authority (ISA) being the body responsible for the regulation of financial market services, including forex trading. To be able to offer forex trading services to Israeli traders, brokers must be licensed by the ISA. Additional information about the local regulator and any relevant updates on the forex trading market in Israel can be found on the ISA’s official website or its X account.
Top 10 FX Brokers in Israel
Fusion Markets Broker Details Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade Trustpilot Rating 4.8 out of 1409 reviews Number of Forex Pairs to Trade Over 200 Leverage Forex & Metals: 30:1
Index CFDs: 5:1
Cryptocurrencies: 2:1Spread EURUSD: 0.11
USDJPY: 0.13
EURGBP: 0.15
GBPUSD: 0.11Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple Founded by Australian trading experts, Fusion Markets was launched in 2017 and is currently one of the top destinations for traders all over the globe. While it is common for brokers to advertise low spreads, Fusion Markets was actually recognized by Brookerchooser, receiving the award “Lowest Spread Forex Broker” four years in a row.
In addition to offering traders tight spreads, Fusion Markets is committed to offering the best value for your trading, charging a significantly low commission of only $2.25 per lot ($4.50 per side). As you can see, const-effectiveness is one of the main values of this top-shelf broker.
Safety is always a priority for Fusion Markets, with major regulatory bodies like the Australian Financial Services (license No.385620), the Financial Services Authority of Seychelles (license No.SD096), and authorities in Vanuatu regulating the services provided by the broker. Under ASIC’s (Australian Securities & Investments Commission) regulation, the broker also provides a negative balance protection to some of its clients.
With no minimum on deposits and a wide range of popular trading platforms like MetaTrader4, MetaTrader5, cTrader, and more, it is no surprise that Fusion Markets is one of the top choices of traders. With an average score of 4.6 out of 5 on Trustpilot, this broker has received an Excellent rating from more than 1,300 happy customers.
Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
Global Prime Broker Details Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.1 out of 100 reviews Number of Forex Pairs to Trade 56 Leverage Forex & Metals: 500:1
Index CFDs: 100:1
Cryptocurrencies: 10:1Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 0.22Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Global Prime is a reliable brokerage that has been providing low-cost trading services since 2010. Regulated by the watchdogs of Vanuatu and Australia, the broker facilitates trading with over 150 financial instruments, including indices, bonds, commodities, cryptocurrencies, and more than 50 currency pairs. Major-pair spreads on raw accounts start at zero pips, with most orders being executed within 10 milliseconds on average. The broker works with MT4 only but plans to soon expand its range of supported platforms with cTrader, MT5, and TradingView.
These excellent trading conditions, coupled with a streamlined registration process, fee-free transactions to and from customer accounts, and round-the-clock support, have earned the broker a solid 4.1 score on Trustpilot. Still, there is scope for improvement as the company offers no cent and swap-free accounts for Islamic customers. The broker has no compensation scheme for client funds, either, which is yet another area Global Prime could improve in.
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
Pepperstone Broker Details Regulators UK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA Min Deposit $0 Trading Platforms TradingView, MT5, MT4, cTrader Trustpilot Rating 4.5 out of 2398 reviews Number of Forex Pairs to Trade 100 Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1.0
USDJPY: 1.0
EURGBP: 1.2
GBPUSD: 1.0Forex Commission per Lot per Trade $0 (Standard Account), $7 round-turn (Razor Account) Deposit Methods Visa, Mastercard, PayPal, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer Pepperstone was launched in 2010 by a group of seasoned traders but has greatly expanded its global presence since then, currently reaching over 400,000 traders worldwide. The company enjoys an immaculate reputation and operates with licenses from several top-tier regulators, including the FCA, ASIC, and CySEC. Pepperstone also ranks among the world’s largest brokerages, boasting an average daily trading volume of $12.6 billion.
Customers of the award-winning company can trade with more than 1,200 financial instruments, ranging from stocks, indices, and ETFs to commodities and currency pairs. FX traders, in particular, can go long or short on over 90 major, minor, and exotic currency pairs. Spreads are highly competitive at Pepperstone, starting at zero pips for majors like EUR/USD traded via Raw accounts. MT4, MT5, TradingView, and cTrader all pose as viable platform options for Pepperstone customers. All these factors combined have earned Pepperstone an above-average rating of 4.5 stars at Trustpilot.
Key Pros
- Winner of multiple industry awards
- Commission-free FX trades via standard accounts
- Over 1,200 instruments across all major asset classes
- Competitive spreads on FX trades via Razor accounts
- Seamless withdrawals within 1 to 3 workdays
Key Cons
- A somewhat limited range of deposit and withdrawal options
- High swap rates on overnight positions
Admirals Broker Details Regulators CySEC (No. 201/13), ASIC (No. 410681), FCA (No. 595450), JSC (No. 57026), FSCA (No. FSP51311) Min Deposit $100 ($1 for Invest MT5 Account) Trading Platforms MT4, MT5, WebTrader, MT Supreme Edition, StereoTrader Trustpilot Rating 4.1 out of 1706 reviews Number of Forex Pairs to Trade 82 Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.1
USDJPY: 10
EURGBP: 0.7
GBPUSD: 0.5Forex Commission per Lot per Trade $3 per lot Deposit Methods Visa, Mastercard, Skrill, Klarna, Bank Transfer, PayPal, Neteller, iDeal, POLi, Perfect Money, Cryptocurrencies Withdrawal Methods Bank transfer, Visa, Mastercard, PayPal, Neteller, Skrill, Perfect Money Formerly Admiral Markets, Admirals is a multi-asset online broker that commenced operations in 2001. The company’s commitment to excellence, innovation, and low-cost trading has earned it the reputation of one of the world’s leading and most reliable brokers. Licensed by ASIC and FCA, among others, Admirals gives its clients access to a broad range of financial instruments, including 82 forex pairs, hard and soft commodities, over 4,500 stocks, cryptocurrencies, bonds, and indices.
Admirals mainly specializes in CFD trading, offering leverage of up to 500:1 to professional forex traders. Fees on forex trades are largely built in the spreads, although clients with Zero/ECN accounts pay a $6 round-turn commission per lot. Those new to the financial markets can trade in micro lots or with fractional shares. Trading at Admirals is possible via familiar platforms like MT4, MT5, and MT WebTrader.
The broker offers negative balance protection to retail clients and fills 90% of all orders within 150 milliseconds. Customers can fund their live accounts for free via bank transfers, cards, digital wallets, and online banking. There is room for enhancement where withdrawals are concerned, though. Admirals customers can request no more than one free withdrawal per month.
Key Pros
- Over 8,000 markets available
- 80 forex pairs tradable through CFDs
- Swap-free forex accounts for Islamic customers
- Offers forex trading in micro lots
- No fees on deposits
Key Cons
- Only one free withdrawal per calendar month
- Does not trade publicly on a stock exchange
AvaTrade Broker Details Regulators FFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC(No.406684) Min Deposit $100 Trading Platforms MetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial Trustpilot Rating 4.5 out of 8469 reviews Number of Forex Pairs to Trade 250+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.9
USDJPY: 1.3
EURGBP: 1.2
GBPUSD: 1.3Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire Withdrawal Methods Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire AvaTrade is one of the most well-experienced brokers offering online trading since 2006. Licensed and regulated to operate across six continents, this brand focuses on offering CFD and Forex trading, with popular platforms like MetaTrader 4 and 5 available to members of the broker. Alongside the MetaTrader platform, AvaTrade also offers its AvaTrade WebTrader and AvaTradeGO platforms, which introduce several innovative features such as AvaProtect.
Those inexperienced in trading can also try copy trading with AvaTrade’s AvaSocial platform. Trading on the go is also a seamless process, with AvaTrade’s mobile platforms, all available on the AvaTrade mobile app, available both to Android and iOS users.
It is no wonder that so many traders have chosen to trust AvaTrade, with the brand offering some of the greatest trading conditions online. Hedging on short selling and scalping is allowed, with traders having no restrictions to worry about. Fast order executions as well as competitively low spreads are also some of the reasons that have earned the broker a score of 4.6 out of 5 on Trustpilot. A total of 9 jurisdictions regulate the services offered by Ava Trade, with the Financial Futures Association of Japan, the Cyprus Securities and Exchange Commission, and the Australian Securities and Investments Commission being some of them.
Key Pros
- Regulated by 9 jurisdictions in 6 continents
- Offers various trading platforms suitable for beginners and expert traders
- Enables smooth mobile forex trading via dedicated app
- Offers 55 forex options and numerous CFDs
- Easy copy trading via the AvaSocial platform
Key Cons
- Retail account pricing trails behind top brokers’ offerings
- Desktop platform may seem a tad outdated
- Many payment solutions are country-specific
Libertex Broker Details Regulators CySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686) Min Deposit $10 Trading Platforms Libretex Trading Platform, MT4, MT5 Trustpilot Rating 4.0 out of 9328 reviews Number of Forex Pairs to Trade 50+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.1
USDJPY: 0.3
EURGBP: 0.3
GBPUSD: 0.4Forex Commission per Lot per Trade $0 Deposit Methods PayPal, Visa, Mastercard, Sofort, iDeal, Trustly, Skrill, Giropay, Sepa International Bank Wire, Multibanco, P24, BLIK, eService, Neteller Withdrawal Methods SEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller Libertex’s roots date back to 1997, making it a broker with nearly three decades of experience in the field of trading. Forex, cryptocurrencies, ETFs, and bonds are a few examples of what markets are available, and cost-effectiveness is one of the broker’s key characteristics thanks to tight spreads and a lack of commissions when it comes to some assets.
Traders are presented with several options in terms of platforms, the first one being Libertex’s own. If you wish to trade on the go, the said platform can be downloaded from the App Store or Google Play. Both MT4 and MT5 are available as well.
Libertex’s efforts to provide traders with an excellent experience have paid off, resulting in the broker earning a 4.0 score on Trust Pilot and a range of accolades, including the one dubbed “Best Trading Experience” granted by the Ultimate Fintech Awards.
In the event that something goes wrong or you need to find a piece of information about Libertex, the broker’s Help Desk Portal can be of great help. You may also reach out to the customer support team via live chat when necessary.
Key Pros
- Great variety in terms of markets
- Users have a range of deposit and cashout solutions to pick from
- Available in English, Spanish, French, Portuguese, and other languages
- Negative balance protection
- Traders can contact the customer support staff via live chat
Key Cons
- No longer available for UK traders
- Does not accept traders from the US
- Somewhat lacking in terms of educational resources
Iron FX Broker Details Regulators FCA (licensing no. 585561), FSCA (licensing no. 45276) Min Deposit $100 Trading Platforms MetaTrader 4, WebTrader, VPS, PMAM, TradeCopier, Mobile App Trustpilot Rating N/A out of N/A reviews Number of Forex Pairs to Trade 80+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 0.7
USDJPY: 0.4
EURGBP: 0.9
GBPUSD: 0.8Forex Commission per Lot per Trade $0 Deposit Methods Visa, MAstercard, Bank Wire, Skrill, Neteller, China Union Pay, Fasapay, Perfect Money, Bitwallet, Paysafecard Withdrawal Methods Bank Wire Founded in 2010, Iron FX is a broker with extensive experience in the trading field, offering traders a vast selection of products. Providing CFDs on forex pairs, commodities, indices, shares, and futures, this online brokerage is a great place for a vast variety of traders. With seven different types of accounts, members of Iron FX can pick the option that suits their preferences the best, with each of the account types offering either low or low fees that offer the best value for your trading.
Unfortunately, while Iron FX was regulated by the Cyprus Securities and Exchange Commission (CySEC), its Bermuda entity currently holds no license authorizing its operations. Meanwhile, its UK and South African entities are regulated by the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority (FSCA), respectively. We would also like to highlight the company’s dedication to traders’ safety, with Iron FX utilizing enterprise-class security tools to keep you and your money safe.
Members of the broker will have access to trading platforms like MetaTrader 4, WebTrader, VPS, PMAM, and TradeCopier as well as the mobile app of Iron FX that enables seamless trading on the go. To fund your account, you are required to deposit $100, which is the minimum required for the standard account type.
Key Pros
- Offers a wide selection of trading instruments
- Supports several popular trading platforms
- Enables easy trading on the go via dedicated app
- Supports various deposit methods
- Traders can choose from 7 different account types
Key Cons
- Bahamas entity operates with no license
- Trustpilot score not available due to many fake review detected
- Withdrawals are possible only via bank wire
Forex.com Broker Details Regulators ASIC, MAS, FCA, CIRO, JFSA, CFTC , MiFID, CySEC Min Deposit $100 Trading Platforms MetaTrader 4, MetaTrader 5, TradingView, WebTrader Trustpilot Rating 4.7 out of 1288 reviews Number of Forex Pairs to Trade 80+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1
USDJPY: 1.2
EURGBP: 1.3
GBPUSD: 1.3Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, Skrill, Neteller, Bank Transfer Launched in 2001, Forex.com has been offering innovative trading solutions for over two decades. Traders will have the chance to trade more than 80 currency pairs or choose from numerous shares and commodities trading options. Advanced trading tools are definitely among the strengths of the broker, offering multiple platforms and even AI tools that allow easier analysis.
Whether you trade on your desktop device or wish to trade on the go, Forex.com offers a wide selection of platforms that enable smooth trading experiences on any type of device. MetaTrader 4 and 5, Web Trader, and the Forex.com mobile app will offer you access to a number of instruments that can make trading more intuitive and easy. Members of Forex.com can also use the TradingView platform, allowing them to handle their trades using a handful of exclusive trading tools.
Among the numerous reasons why many traders have decided to trust Forex.com, tight spreads are definitely a key factor. Execution speed is also one of the broker’s strongest suits, with about 99.79% of trades executed in under one second and an average execution speed for Forex trades of 0.03 seconds. While trading with Forex.com, you can be sure that your funds are always protected via industry-standard security tools, with the broker following guidelines imposed by major regulators. StoneX, which is Forex.com’s parent company, is regulated by ASIC, MAS, FCA, CIRO, JFSA, CFTC, CySEC, and MiFID in the EU market.
Key Pros
- Supports a great selection of trading platforms
- Enables easy mobile trading
- Offers over 80 currency pairs
- Provides a vast variety of products
- Forex spreads can be very competitive
Key Cons
- Navigating platforms can be difficult for beginners
- Instruments on MT4 platforms are significantly fewer than other platforms
- Charges monthly fee after 12 months of inactivity
Eightcap Broker Details Regulators SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296) Min Deposit $100 Trading Platforms MT4, MT5, WebTrader, TradingView Trustpilot Rating 4.3 out of 2133 reviews Number of Forex Pairs to Trade 50+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1
USDJPY: 1.1
EURGBP: 1
GBPUSD: 1Forex Commission per Lot per Trade $0 on Standard and TradingView Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, PayPal, Mastercard, Wire Transfer, Neteller, Skrill, Tether, Bitcoin, BPAY, Dragonpay, Fasapay, Interac, Pix Withdrawal Methods Mastercard, Visa, PayPal, Skrill, Neteller, Bitcoin, Tether, Wire Transfers, BPAY, Fasapay, Pix, Interac Eightcap was established back in 2009 in Melbourne. The brokerage has greatly grown over the years, currently reaching traders from more than 100 countries around the globe. The Australian company is licensed to conduct online trading by first-tier financial watchdogs like FCA, ASIC, and CySEC. It provides favorable trading conditions but its product range is a bit slimmer compared to competitors.
There are around 800 financial instruments to choose from, which puts the broker’s selection of tradable products slightly below the industry averages. Various asset classes are covered, including equity indices, shares, cryptocurrencies, forex, and commodities. The broker specializes in providing speculative trading via contracts for difference, with maximum leverage ratios capped at 30:1 or 200:1, depending on the country of access.
Traders at Eightcap can go long or short on approximately 50 forex pairs, with minimum spreads starting from zero pips on Raw accounts where a $7 round-turn commission is in place instead. Standard accounts allow for commission-free forex trading but have slightly higher spreads (from 1 pip) compared to their Raw counterparts. Capitalizing on currency price movements is possible via the TradingView, MT5, and MT4 platforms. Minimum deposit requirements align with the industry average ($100), with plenty of secure payment methods at customers’ disposal.
Key Pros
- Commission-free FX trading via standard accounts
- Spreads from 0 pips on major currency pairs
- Accepts cryptocurrency deposits
- Fantastic variety of deposit and withdrawal methods
- Insights section with webinars, trade ideas, and weekly forecasts
Key Cons
- Below-average range of tradable instruments
- Crypto withdrawals incur transaction fees
Vantage FX Broker Details Regulators FCA (license no. FRN: 590299), VFSC (reg. No. 700271), ASIC (license no. no. 428901), FSCA (license no. 51268), CIMA (no. 1383491) Min Deposit $50 Trading Platforms MetaTrader 4, MetaTrader 5, ProTrader, TradingView, Copy Trading Trustpilot Rating 3.4 out of 3033 reviews Number of Forex Pairs to Trade 40+ Leverage Forex & Metals: 30:1
Index CFDs: 20:1
Cryptocurrencies: 2:1Spread EURUSD: 1.0
USDJPY: 1.0
EURGBP: 1.2
GBPUSD: 1.0Forex Commission per Lot per Trade $3 per side on Raw; $1.50 per side on Pro Deposit Methods Visa, Mastercard, Union Pay, Boleto, Bank Wire, Skrill, Neteller, Crypto Withdrawal Methods Visa, Mastercard, Union Pay, Bank Wire, Skrill, Neteller, Crypto Vantage is an online broker offering traders over 1,000 CFD products, with competitive pricing offering members of the company to enjoy the best value for their investments and sales. Founded in 2009, the broker has proven to be one of the most trustworthy names in this industry, with authorities like ASIC, FCA, FSCA, CIMA, and VFSC regulating the services provided by Vantage.
Trading at Vantage FX is possible through several platforms, including MetaTrader 4 and 5, TradingView, and ProTrader. Copy Trading is also available to Vantage FX clients, with the broker receiving the ForexBrokers’ recognition for the Best in Class for Copy Trading in 2024. Copy Trading is available on the Vantage FX app, offering smooth trading on the go for both Android and iOS users.
Once they decide to top up their Vantage FX account, traders will be able to choose from methods like credit and debit cards, bank transfers, e-wallets like Neteller and Skrill, crypto wallets, and the instant banking service of Boleto. Keep in mind that some methods are country-specific and may not be available to all traders using the services of Vantage FX. You can fund your account with as little as $50 or the equivalent in another currency.
Key Pros
- Regulated by reputable authorities
- Offers over 1,000 CFD products
- Supports various popular platforms
- Enables easy copy trading on mobile app
- Tight spreads and low commission for forex traders
Key Cons
- Some banking methods are exclusive to certain markets
- Could add more currency pairs to its products
- Limited educational materials
Is Forex Trading Legal in Israel?
Forex Trading is a legal and completely regulated financial activity in Israel. As already mentioned, it is the ISA’s responsibility to authorize brokers’ operations within the country. The same body is also overseeing the forex trading market, making sure license holders are ensuring fair trading conditions for their customers.
Obtaining a license from the local authority requires meeting specific conditions that are typically related to the company’s financial stability, business plan, security strategies, and regulatory compliance. Once licensed, local brokers are subject to regular audits and checkups, ensuring they are following regulatory guidelines for fair and secure trading.
Even though brokers are required to obtain an ISA license in order to operate in the Israeli forex trading market, local traders can also join foreign brokers regulated in different jurisdictions. That said, it is worth saying that the ISA is regarded as a tier-2 financial market regulator, which means it is one of the strictest and most reliable authorities in the global trading scene.
With the ISA ensuring brokers catering to Israeli traders are compliant with local and global trading regulations, any entities breaching rules and endangering the security of Israeli traders and their funds can face financial penalties imposed by the ISA. The regulatory body is also authorized to revoke the licenses of companies that are no longer capable of offering safe and fair trading services to traders based in Israel.
Israel Securities Authority (ISA) Regulation Info
To be eligible to offer forex trading services to traders based in Israel, brokers are required to meet certain conditions in order to receive the ISA’s permission to operate. For starters, to ensure that they are financially stable and capable of fulfilling trading operations, license applicants must provide documents proving their operational capital. The minimum required for entities to qualify for an ISA license varies between 500,000 ILS and 4 million ILS (around $100,000 and $1 million), depending on the variety of financial services the entity will be offering to its clients. The most basic license that Israeli brokers can obtain will require a minimum starting capital of 800,000 ILS (about $200,000).
During the application review process, the ISA does thorough background checks of entities, assessing their integrity and honesty, and evaluating the competence of employees. License applicants are also asked to submit a business plan or an activity document.
Once entities receive an ISA license for forex trading, they are required to follow a set of regulatory requirements. Some of these include the prohibition of misleading advertising content, the establishment of a uniform fee structure, and regular reports submitted to the Capital Market Authority.
In addition to issuing operational licenses to Israeli forex brokers, the ISA is also responsible for taking regulatory action against entities who have illegally provided financial services, including forex trading to Israeli traders or have breached any license conditions. You can always check the official website of ISA to check the register of active license holders as well as any public notices about entities who had their licenses revoked by ISA.
How Can I Verify ISA Authorization?
Verifying whether you have come across a forex broker licensed by the ISA and following local guidelines for secure and fair trading is extremely easy. Any brokerage company that has been licensed by the ISA and is regulated by the local authority will list the relevant license information on its official website. Take a look at the bottom of the home page of any broker’s website to find out more about the jurisdictions where the company has been licensed and is currently regulated.
To verify whether a trading company has been licensed by the Israeli regulatory body, you can also head to the official website of ISA. Under the category Supervised Entities, you can find registries of licensed companies, with all trading companies operating under ISA licenses listed here. By clicking on every entity’s name, you can see more information about the company’s license and its validity.
Are Traders’ Funds Safe with Forex Brokers in Israel?
If you are worried about the safety of your funds while you trade with an Israeli broker, we can assure you that any brand that has an ISA license is following strict regulatory requirements. That means regulated brokers are obligated to implement a wide range of security measures to ensure the safety of their clients’ funds.
As already mentioned, only entities that have proven to have a certain minimum operating capital can be eligible for a trading license. Since the required minimum can be rather high, this ensures that only financially stable companies can qualify for an operational license. Even after they have obtained ISA’s permission, licensed brokers must go through regular audits to prove they are eligible to maintain their status as licensed trading entities.
You should also know that the ISA requires brokers to keep their customers’ funds segregated. This guarantees that even if the broker goes bankrupt or loses money in any other way, traders’ funds will not be affected as they will be kept in a different bank account.
To combat money laundering activities and other financial crimes, Israeli brokers are required to implement a variety of security tools such as KYC (Know Your Customer) practices. That means Israeli traders will be asked to prove their identity and provide information about their source of funds. That way, brokers are able to verify real accounts and prevent any suspicious activity.
Do Israeli Brokers Provide Negative Balance Protection?
It is worth mentioning that another security measure regulated Israeli brokers are asked to implement includes negative balance protection. As forex trading has the potential to be a risky activity due to leverage, traders, especially those who are inexperienced can suffer huge losses if they cannot assess the risks correctly. This is why negative balance protection is a useful security tool that all regulated Israeli brokers are required to offer to their retail clients.
Since high leverage can easily lead to losses that exceed your available balance, it is common that traders may end up owing the broker money. However, if you have negative balance protection applied to your account, your losses will be limited only to the amount you have deposited into your trading account. That means you will not owe the broker any money, even if the leverage indicated potential losses of bigger amounts.
Do Traders Pay Tax on Forex Trading in Israel?
As forex trading is a regulated activity in Israel, it is also considered a taxable source of income for Israeli traders. According to Israeli tax regulations, the income generated through forex trading falls under the category of capital gains. The rate of said tax may range anywhere between 20% and 50%, depending on the assets that have been traded and their volume.
To be sure they are following local tax requirements, Israeli traders are advised to contact local tax experts. That way, they can be aware of any recent changes in the tax rates and can be sure they have submitted the correct documents to local tax authorities. It is worth noting that individuals who try to avoid taxes linked to their forex trading capital gains may face serious penalties.
How Does the Available Leverage of ISA-Regulated Brokers Compare to the Leverage at Brokers Regulated Offshore?
As we have already shared, the ISA is extremely strict with its license holders, requiring brokers to implement a wide selection of measures that ensure clients’ safety. Leverage limits are also among the license conditions Israeli brokers must meet. The maximum allowed leverage depends on the volatility of the asset, with brokers operating in Israel being allowed to offer a leverage of up to 100:1 on major currency pairs. Meanwhile, assets with a medium risk level may have a leverage of up to 40:1, while exotic pairs may offer a maximum of 20:1 leverage.
While the ISA is stringent about every aspect of trading in the territory of Israel, compared to other jurisdictions, it has been more generous with allowed leverage limits. For instance, brokers in the US are permitted to offer a maximum leverage of 50:1 on major currency pairs. Meanwhile, tier-1 regulators like the FCA, ASIC, CySEC, and most watchdogs across Europe, have introduced maximum leverage of 30:1 on major currency pairs and 20:1 on exotic currency pairs.
In some Asian countries, the leverage can be even lower, with traders being offered maximum leverage of 10:1 or even 5:1 on currency pairs. While a leverage cap of 100:1 is quite high compared to the ratios adopted in other jurisdictions, we should also mention that regulators like the FSA have introduced a leverage limit of up to 5,000:1, with brokers operating in the Seychelles often offering such high ratios.
What Do You Need to Qualify to be Designated as a Professional Trader in Israel?
It should be noted that leverage limits are applied only to retail trading accounts. Meanwhile, investors who enjoy trading higher volumes, do not mind the high risk, and wish to take advantage of higher leverage ratios, can apply for professional trading accounts. Israeli brokers do offer their clients to upgrade to a professional trading status, but they are required to meet several conditions to classify as professional traders.
Just like other regulators, the ISA has introduced similar guidelines for professional trading accounts. Clients who wish to be designated as professional traders will need to prove they are capable of making high-volume transactions, they are well-experienced in this field, and they have the knowledge required to verify they are true professionals. Depending on the broker you have joined or you are planning to join, the steps required to open a professional account may differ. That said, in most cases, you will be asked to provide bank statements, a letter from your current or former employer, or other documents that will verify your professional status.
Most Israeli brokers offering professional trading accounts will request the following:
- The cumulative worth of your portfolio of financial instruments should be equal to or exceed 12 million ILS
- Traders should have made monthly transactions worth at least 10 million ILS in the previous six months
- Traders must have work experience of at least one year in the financial market industry
If you want to be prepared for the application process and speed up the verification, you can reach out to the broker’s support team. By contacting an agent, you can inquire about the documents you will need to submit when applying for a professional trading account.
What Trading Platforms are Available to Israeli Traders?
Trading websites operating under an ISA license will often feature popular trading platforms like MT4 and MT5, offering forex traders smooth and fast operation executions across various devices. Meanwhile, as Israeli traders may also choose to trade with offshore regulated brokers, they may also come across several proprietary platforms as well as the highly advanced cTrader.
MetaTrader 4: This is one of the most popular platforms for forex trading, suitable for both beginners and experienced traders. MT4 offers access to multiple forex quotes, allowing traders to execute several trades simultaneously. Automated trading is also a great feature of MT4 that many traders would appreciate as they decide to trade with any reputable Israeli broker.
MetaTrader 5: This platform is also a great variation, catering to multiple types of traders as it allows trading forex pairs, CFDs, stocks, and futures. Traders will have access to various tools such as algorithmic trading applications that can enable automated trades. Expert Advisors (EA) and trading robots are also some of the instruments that many Israeli traders will have access to while trading on the MT5 platform.
cTrader: This is considered a more advanced forex and CFD platform that many traders would enjoy. With plenty of charting and analytical tools, cTrader is a great platform for a more modern approach to trading. Fast entry and execution are also some of the platform’s features that many Israeli forex traders would appreciate.Below you can find some useful references with links to organisations that monitor the forex market in Israel.
- Israel Securities Authority (ISA)
- ISA licensed trading companies under the Supervised Entities category.