Best Forex Trading Platforms In Palestine 2024

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Written By
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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.
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Edited By
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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.
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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
Vantage logo
55+ 0.0
$50 FCA, ASIC, FSCA, VFSC Visit
IC Markets logo
75 0.02
$200 ASIC, CySEC, FSA Visit
AvaTrade logo
50+ 0.9
$100 ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM Visit
FOREX.com logo
80+ 1.2
$100 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA Visit
Pepperstone logo
100+ 0.1
$0 FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Visit
XM logo
55+ 1.6
$5 ASIC, CySEC, DFSA, FSC, FSCA Visit
Eightcap logo
50+ 0.0
$100 ASIC, FCA, xCySEC, SCB Visit
PrimeXBT logo
45+ Variable
$0 - Visit
IQ Option logo
60+ 14 pips
$10 - Visit
IG logo
80+ 0.8
$0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA Visit
FxPro logo
70+ 1.58 pips (Ave)
$100 FCA, CySEC, FSCA, SCB, FSC Visit
FXCC logo
70+ 0.2
$0 CySEC Visit
XTB logo
70+ 1.0
$0 FCA, CySEC, KNF, CNMV, DFSA, FSC Visit
Plus500 logo
60+ 0.6
$100 FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA Visit
Markets.com logo
67 0.70 pips (var)
$100 FCA, CySEC, ASIC, FSCA, FSC Visit

#1 - Vantage

Why We Chose 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.

"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

#2 - IC Markets

Why We Chose 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.

"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

#3 - AvaTrade

Why We Chose 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, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

"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, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

#4 - FOREX.com

Why We Chose 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.

"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: 1:400
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

#5 - Pepperstone

Why We Chose 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.

"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

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.

  • IC Markets continues to earn our trust – it’s licensed by two ‘green-tier’ regulators (ASIC and CySEC) and has attracted over 180,000 traders since it launched in 2007, including some of our experts who have used the forex platform for real-money trading with no withdrawal problems.

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.

USD/ILS on TradingView via Forex.com
Trading USD/ILS on FOREX.com
  • FOREX.com continues to impress with its extensive range of 80+ major, minor and exotics including some of the most relevant for Palestinian traders, such as USD/ILS. It also offers an Islamic account, providing a halal trading environment, catering to the vast majority of Palestinians.

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.

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Beginners may prefer a straightforward, commission-free account with floating spreads, while advanced traders may be willing to pay a commission to access ultra-tight spreads, often starting near zero.

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.

  • Pepperstone continues to offer some of the best pricing for serious forex traders, with average spreads of just 0.12 pips on EUR/USD, an active trader program with rebates of 25%+, plus ultra-fast execution speeds of 30ms, helping day traders secure optimal prices in volatile foreign exchange markets.

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.

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Michael MacKenzie
Author
  • We love Vantage for its forex trading tools, comprising MT4, MT5 and TradingView plus the proprietary ProTrader, providing everything that traders at all experience levels need to analyze the foreign exchange market.

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.

  • XM’s range of convenient payment methods, including Google Wallet, and accessible minimum deposit of $5, make it a top choice for convenient account funding in Palestine.

FAQ

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.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com