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Best Forex Trading Platforms In Palestine 2024

Written By

Michael MacKenzie

Written By

Michael MacKenzie

Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.

» Michael MacKenzie Profile Page

Edited By

James Barra

Edited By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Apr 16, 2024

Forex trading has proven popular in Palestine, with investors looking to speculate on Israeli shekels (ILS), Jordanian dinars (JOD), and US dollars (USD), among other currencies.

However, despite Palestine’s financial markets being overseen by the Palestine Monetary Authority (PMA) and Capital Market Authority (PCMA), they don’t have a strong framework to regulate forex brokers. As a result, many Palestinians turn to forex trading platforms registered elsewhere.

Explore our list of the best forex brokers in Palestine, chosen for their reliability, platform offering, value for money, and selection of currency pairs.

Top 5 Forex Trading Platforms In Palestine

Following years testing hundreds of brokers, these 5 platforms stand out as the best for forex traders in Palestine:

1. Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
2. IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
3. AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
4. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
5. Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.

Best Forex Trading Platforms In Palestine 2024 Comparison

Best Forex Trading Platforms In Palestine 2024 Comparison

Broker	Forex Assets	EUR/USD Spread	Forex App Rating	Minimum Deposit	Regulator	Islamic Account	Visit
	55+	0.0	4 / 5	$50	FCA, ASIC, FSCA, VFSC	✔	Visit
	75	0.02	4.8 / 5	$200	ASIC, CySEC, FSA	✔	Visit
	50+	0.9	4.3 / 5	$100	ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM	✔	Visit
	80+	1.2	4.9 / 5	$100	NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA	✔	Visit
	100+	0.1	4.7 / 5	$0	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB	✔	Visit
	55+	1.6	4.7 / 5	$5	ASIC, CySEC, DFSA, FSC, FSCA	✔	Visit
	50+	0.0	3.6 / 5	$100	ASIC, FCA, xCySEC, SCB	✔	Visit
	45+	Variable	3 / 5	$0	-	✘	Visit
	60+	14 pips	4.5 / 5	$10	-	✔	Visit
	80+	0.8	4.9 / 5	$0	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA	✘	Visit
	70+	1.58 pips (Ave)	2.5 / 5	$100	FCA, CySEC, FSCA, SCB, FSC	✔	Visit
	70+	0.2	3.4 / 5	$0	CySEC	✔	Visit
	70+	1.0	4.8 / 5	$0	FCA, CySEC, KNF, CNMV, DFSA, FSC	✔	Visit
	60+	0.6	5 / 5	$100	FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA	✔	Visit
	67	0.70 pips (var)	3.9 / 5	$100	FCA, CySEC, ASIC, FSCA, FSC	✔	Visit

#1 - Vantage

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Review

Why We Chose Vantage

Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

- DayTrading Review Team

• GBPUSD Spread: 0.5
• EURUSD Spread: 0.0
• EURGBP Spread: 0.5
• Total Assets: 55+
• Leverage: 1:500
• Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

About Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

Pros

• There are no short-term strategy restrictions with hedging and scalping permitted
• The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
• It’s quick and easy to open a live account – taking less than 2 minutes

Cons

• The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
• It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
• Unfortunately, cryptos are only available for Australian clients

Visit Vantage

#2 - IC Markets

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Review

Why We Chose IC Markets

IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team

• GBPUSD Spread: 0.23
• EURUSD Spread: 0.02
• EURGBP Spread: 0.27
• Total Assets: 75
• Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
• Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade

About IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

Pros

• IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
• With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
• IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.

Cons

• The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
• Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
• Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.

Visit IC Markets

#3 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team

• GBPUSD Spread: 1.5
• EURUSD Spread: 0.9
• EURGBP Spread: 1.5
• Total Assets: 50+
• Leverage: 1:30 (Retail) 1:400 (Pro)
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform

Cons

• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• Traders from the US are not accepted
• It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

Visit AvaTrade

#4 - FOREX.com

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Review

Why We Chose FOREX.com

FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team

• GBPUSD Spread: 1.3
• EURUSD Spread: 1.2
• EURGBP Spread: 1.4
• Total Assets: 80+
• Leverage: 1:200 (Retail), 1:500 (Pro)
• Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

About FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Pros

• With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
• FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
• There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.

Cons

• Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
• There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
• FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.

Visit FOREX.com

#5 - Pepperstone

Visit

Review

Why We Chose Pepperstone

Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team

• GBPUSD Spread: 0.4
• EURUSD Spread: 0.1
• EURGBP Spread: 0.4
• Total Assets: 100+
• Leverage: 1:30 (Retail), 1:500 (Pro)
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade

About Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

Pros

• Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
• There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
• Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.

Cons

• Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
• There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.

Visit Pepperstone

How We Rate Forex Trading Platforms In Palestine

There are several criteria we look at when evaluating forex brokers and recommend you do too:

Trust

Choose a trustworthy platform to protect your funds from increasingly sophisticated forex scams. The Economy Ministry in Gaza even declared a ban on forex trading without its permission due to the massive scale of losses to scammers.

Our recommendation is to open an account with an established, well-regulated forex broker – this is the best sign a firm can be trusted.

Unfortunately, Palestine’s regulatory organizations haven’t yet put a strong framework in place to regulate forex brokers, so consider platforms authorized by ‘green-tier’ regulators, such as Australia’s ASIC and the UK’s FCA.

Forex Markets

Select a forex broker that offers short-term trading on the currency pairs you’re interested in.

Although the Palestinian Territories do not have a sovereign currency, Jordanian dinars (JOD), Israeli shekels (ILS) and US dollars (USD) are widely used and this should give Palestinian traders a broad range of pairs to choose from, particularly with USD.

Pricing

Look for a forex broker with competitive pricing since fees from frequent short-term trades can add up.

We assess spreads on popular currency pairs as part of our exhaustive testing process, factoring in minimum and average spreads where possible, creating an accurate picture of costs.

Importantly, currency pairs with a Palestinian currency component, such as USD/ILS, may have higher spreads due to comparatively low trading volumes, coming in around 60 pips during testing compared to the approximate 1 pip on the EUR/USD.

We also consider non-trading fees like conversion charges if depositing Israeli shekels to a forex account denominated in another currency, and weigh the full pricing schedule against services offered.

Forex Platforms

Choose a responsive platform that suits your trading style and provides the tools you need, typically a strong charting package if you’re forex day trading.

Experienced traders often gravitate toward MetaTrader 4, MetaTrader 5 and cTrader for their pro-level charting, indicators and auto-trading capabilities. However, we’re seeing an increasing number of proprietary platforms and forex apps match these features while delivering a more user-friendly trading experience for beginners.

I particularly rate TradingView. The modern platform offers powerful charts and a huge suite of integrated tools to inform forex trading decisions.

For Palestinian traders, this includes comprehensive economic data from the US, Israel and Jordan that will impact USD, ILS and JOD prices as well as news feeds to keep abreast of regional developments.

Michael MacKenzie

Author

Account Funding

You should look for a forex broker that accepts a base currency that’s convenient for you and has a good selection of affordable payment methods which work in Palestine.

Digital payment methods are increasingly popular, with the Palestine Monetary Authority estimating that around 410,000 people in the Palestinian Territories used e-wallets in 2022 with the value of transactions rising by 23% that year.

Although many of the most popular international digital payment methods are unavailable in Palestine, Google Wallet is both supported and accepted by some leading forex brokers, and Palestinians are also increasingly making use of local e-wallets like PalPay.

FAQ

Is Forex Trading Legal In Palestine?

Forex trading is popular in Palestine, however the different Palestinian territories have various political authorities and the legal status can sometimes be unclear. For example, the authorities in Gaza banned forex trading for those without express permission in 2022 due to the number of forex scams reported.

We recommend checking with the government in your area whether forex trading is permitted and what the specific rules are before you start trading.

Who Regulates Forex Trading In Palestine?

There are organizations in the Palestinian Territories that broadly oversee financial markets, notably the Palestine Monetary Authority (PMA) and Capital Market Authority (PCMA).

However, there is no specific body that regulates retail forex trading in the way established bodies like the Financial Conduct Authority (FCA) in the UK or the Australian Securities & Investments Commission (ASIC) in Australia.

How Much Money Do I Need To Start Trading Forex In Palestine?

The exact amount you’ll need depends on the minimum deposit of the Palestinian forex broker you sign up with.

However, we’ve found after testing hundreds of forex brokers that it’s unusual for a broker to need more than $250 for a first deposit, with some firms having considerably lower minimums, and Pepperstone having no minimum.