Palestinian traders prefer to find trading companies operating in Palestine because they provide many of the required services
List of top five brokers in Palestine
High level regulation in multiple jurisdictions
Huge range of tradable assets including vanilla and gold options
Easily create accounts and the possibility of social trading that allows the trader to track trading patterns.
Allows the possibility of trading shares without commissions
Marketsi Strategies Builder helps traders trade smart
Competitive trading execution with low potential for slippage
Many investors in Palestine aim to trade in the online foreign exchange market, and this is what prompts them to search for the best reliable trading companies, or forex companies that suit the requirements of the Palestinian investor, as it provides him with credibility, transparency and a fair regulatory environment, where we advise you to deal only with Licensed trading companies, in addition to this, the possibility of withdrawing and depositing funds easily, but the problem is that the Palestinian investor knows that many trading companies prefer not to receive Palestinian traders to trade through their trading platforms, but this has become a thing of the past now, as today there are Licensed and trusted forex trading companies accept the Palestinian investor to trade through their trading platforms.
4.5/5 Company Rating
for dealers. The company has a high and strong level of regulation, which makes it a favorite for traders who are very concerned about the security of their deposits, which can be protected in Ireland by providing strong investor deposit protection.
AvaTrade Pros and Cons
4.5/5 Company Rating
Trade360 is the trading name of “Crowd Tech LTD”. It is a Cypriot market maker and investment company that has been operating since 2013, CFD brokerage. Trade 360 has emerged with its social trading activity in the financial market. This broker offers its traders and clients its own trading platform, developed by CrowdTrading, which provides trading information from all its clients to improve the decision making process, and as an attempt to benefit from knowledge research, explore the efficiency of crowd decisions over individual expert decisions.
Pros and Cons of Trade360
4.5/5 Company Rating
MarketsX, which many traders may know by its former name Markets.com, is a global forex broker that started in 2010. This broker started its journey as GFC Markets but was renamed Markets.com in 2010 after the merger with Safecap Investments LTD, which owns GFC Markets and TradeFX. In 2015, the game software company Playtech PLC, listed under the ticker symbol PTEC, acquired TradeFX for £458 million. This made Playtech the owner of Markets.com, which is now a trademark of MarketsX.
Financial Supervisory Bodies
CySEC, FCA, ASIC, BVIFSC, GFSC, FSCA
Forex company type
Pros and Cons of Markets Company
Availability of a demo account
Choice of many trading platforms
Excellent customer service
What should I take into consideration about choosing reliable trading companies in Palestine? Or how can I choose the right forex company for me that suits the requirements and conditions of the Palestinian trader, a question that many investors in the Middle East ask in general, and the answer is that there are many reliable forex trading companies in Palestine, yet these companies are rather few , The reason is due to this because of the difficulty of transferring and receiving funds in Palestine with the continuous siege imposed by the Israeli army, which forces the best international trading companies not to deal with Palestinian clients.
Today, through multiple and easy deposit methods such as electronic banks, etc., investors from Palestine can trade with the best reliable trading companies, and for this we must know how to choose the most suitable forex companies for you.When initiating forex trading online, as the best licensed trading companies must have specific qualities and capabilities that the Palestinian investor should not give up to trade in a transparent and credible manner. Whereas, you must take into account the following to open a forex account with the trading company:
- Search for company licenses – only trade with licensed trading companies
- Open Islamic forex accounts
- Easy withdrawals and deposits of funds
- Provide excellent customer service support in Arabic
- Providing training courses and market analysis on an ongoing basis
- Sophisticated, fast and easy-to-use trading platforms
- Extremely Low Spreads
Many reliable and licensed trading companies offer Muslim clients in the world the possibility of trading through an Islamic business system where they provide them with Islamic forex accounts, compatible with Islamic Sharia, and without the need to pay any additional costs for that in many cases, and this system works if used The investor is the leverage provided by the trading company, as in the normal case when using the leverage and overnight trading deals for the next day and when it exceeds twelve o’clock after midnight, interest is calculated on the trading contracts open with the company, and money may be added to your account or debited from your account on these contracts.
But in the Islamic system and according to the principles of the true Islamic religion, this work is considered forbidden by Sharia and is not permissible, as every loan that brings a benefit is usury. Therefore, reliable and licensed trading companies provide accounts that allow Muslim clients to swap contracts for trading for days or weeks without obtaining or paying any Additional money or costs, in addition to the price differences obtained by the trading company that they trade through their trading platforms, and this work is legally permissible according to what many fatwas on the subject of forex ruling from Islamic fatwa authorities.
There are a lot of payment and withdrawal methods from reliable and licensed forex companies, and the best ways to withdraw and deposit money with forex companies are bank transfers, which usually take from one to three banking days when sending or receiving money. It is also possible to withdraw and deposit through prepaid credit cards such as Visa or MasterCard. In addition, there are many reliable trading companies that offer their own withdrawal visa, through which you withdraw your money directly from any ATM, It is also considered the best and easiest way to withdraw and deposit now in Palestine and many Middle Eastern countries is through electronic bank wallets such as Skrill Bank, Bank Neteller and PayPal, which provides customers with the ability to deposit money within a few secondsIn addition, withdrawals usually do not take more than 24 hours at most, and the reason is due to the broker’s review of the withdrawal process and nothing else, but there are some forex trading companies that provide the possibility of withdrawing immediately without the need for any waiting or review processes.
Trading companies licensed in Palestine are granted licenses from the Administrative and Financial Supervision Bureau in Palestine, where this Palestinian institution was established in 2004, and it is a financially and administratively independent governmental institution. The Financial and Administrative Oversight Bureau, to monitor all trade and financial services in Palestine, and also includes monitoring and auditing many other official and governmental institutions such as the Presidency of the State and its affiliated institutions.
Trading with licensed forex companies has many advantages and advantages, as trading is in a safe environment and free from the risks that accompany the bankruptcy operations of trading companies, by separating clients’ funds from the trading company’s funds, in addition to securing clients’ funds against disasters, This makes the clients’ money completely safe against any risks that the trading company may be exposed to, in addition to that in the event of a problem between you and the brokerage company, the company will work to solve this problem as soon as possibleWhere, if you file a complaint, this trading company may impose heavy fines on the trading company and the regulatory authorities may impose heavy fines on the trading company and it may even cancel the trading company’s license.
Regulatory bodies are granted licenses for forex trading companies that agree to the standards of testing and monitoring by the regulatory bodies over all the work, activities and records of the forex trading company, to be authorized trading firms, including customer records and anti-money laundering policy, Monitor trading operations and investigate customer complaints submitted to regulatory bodies. The regulatory bodies have the right to impose penalties on these forex trading companies, such as imposing financial fines, or it may come to canceling the license in the event of repeating these violations.Therefore, maintaining the company’s credibility and transparency and solving all customer problems is necessary to remain under the licensing of regulatory bodies.
Before you consider trading with a forex company, you must first make sure that this trading company is licensed and regulated by the regulatory bodies that monitor and review the records of the trading company, and make sure that clients’ funds are separated from the company’s funds, in addition to the role of regulatory bodies in monitoring Forex companies also include reviewing and investigating customer complaints submitted against forex trading companies, in addition to that, unlicensed trading companies are also considered a scam, and they never work transparently. If the registration already exists, through it we can know the entire history of the trading company, the violations and fines that occurred on the forex trading company during the registration period and all the details related to licenses. The best global licenses for monitoring forex trading companies are as follows:
- UK Financial Supervisory Authority FCA
- Australian Financial Supervisory Authority ASIC
- Swiss Financial Supervisory Authority FINMA
- America’s Financial Supervisory Authority NFA
- Cyprus Financial Supervisory Authority CySEC
Licensed trading companies have an advantage over unlicensed Forex companies, as the regulated and monitored market by global regulatory bodies allows you to trade safely and you are sure that the brokerage company does not manipulate the market prices that it offers you on the trading platformin addition to the following:
- Continuously monitor the records of the trading company
- Separation of client money from the trading company’s money
- Investigation of customer complaints against trading companies
- Trade in the real market and with real liquidity providers in the market
- Execution of trading orders in the live market without a side trading room
- Transparency and credibility in the dealings of the trading company
Scam Forex companies are distinguished by several things, as all scam trading companies follow the same methods in the rhythm of customers, through their days with fantastic profits from the Forex market, but the real goal is to get depositors’ money, Scam trading companies can be distinguished in forex trading from several factors, such as:
- Unreasonable promotions
- Not licensing scam trading companies with any regulatory body
- Trading platforms are slow and difficult to use
- Promises clients of fake profits from the forex market
- Urgency in frequent calls from customer service to open the account
- Offer bonus on deposit 200% and more
- Lack of interest in educational content or providing educational courses for traders
The criteria for selecting the best reliable and licensed trading companies in Palestine or in any Arab country must include, as we mentioned earlier in this article, the supervisory licenses first of all, and then the company’s record of previous violations and how these violations were settled, if any, and whether they were repeated These violations again or not, in addition to many other things that we will work to mention, As the most important things to consider when choosing a reliable trading company after company licenses are the following:
- Separation of client funds from company funds
- Providing Islamic Forex Accounts
- Customer support service in Arabic
- Easy withdrawals and deposits
- Fast execution mechanism and tight spreads
- The reputation of the brokerage company among traders
- Fast and advanced trading platforms
Is forex trading legal in Palestine?
Yes, there is no law prohibiting currency trading in the Palestinian territories
Do investors in Palestine pay taxes on forex trading?
There are no special taxes on forex trading in Palestine, but it is necessary to ensure the legality of ordinary income taxes on profits from currency trading.
Is currency trading halal or haram?
According to the fatwas of the official authorities, currency trading is permissible through Islamic forex accounts.
Can a Palestinian trader open a trading account with a brokerage company outside Palestine?
Yes, traders from Palestine can open forex accounts with companies outside Palestine.
What is an Islamic forex account?
The Islamic account is an account through which the foreign exchange and global stock markets are traded without the need to pay overnight interest or also obtain interest through the use of leverage in trading.