The 5 best Binary Options broker in Israel – Comparison and reviews

The practice of trading FX (currency) is widespread among Israelis. Forex brokers are not needed to acquire the Israel Securities Authority (ISA) licenses to accept Israeli residents as clients. Thus, one can bid as per their will in binary options as forex as their trading instrument.

Are you looking to earn some extra money in less time? Well, we have got you covered. This master guide highlights the best binary options broker in Israel with every detail you need to know to become a pro trader.

List of the best 5 Binary Options broker in Israel

#1 Quotex

Quotex is a binary options broker established in 2020 and delivers market alerts and trading simulations using a bespoke web platform. Awesomo Ltd, a Seychelles-based firm regulated by the International Financial Markets Regulatory Center (IFMRRC), owns the trademark Quotex.

#2 RaceOption

In today’s industry, RaceOption is one of the most popular brokers for options trading. This broker also has the distinction of hosting a large number of users without being regulated. It has a simple user interface and offers a variety of account kinds.

#3 Olymp Trade

Olymp Trade is a completely licensed and regulated business. Since 2016, the International Finance Commission has regulated the broker “Olymp Trade.”

 We know that this authority regulates a variety of Forex Brokers based on our expertise. Olymp Trade is classified as a category “A” business, which provides customers with additional benefits and security.

#4 Binomo

Binomo has been a big name in binary options for many years. The platform aims at providing the best to its clients by providing over 60+ assets to trade with.

The IFC regulates Binomo, and it currently operates in the majority of the world’s major economies.

#5 Pocket Option

Gembell Limited’s Pocket Option originally debuted the binary options market in 2017 and since then has made a name for itself. The International Financial Market Relations Regulation Center (IFMRRC), stationed in the Marshall Islands, supervises this broker.

What is a Binary Options broker in Israel?

A binary options broker in Israel is a bid from which one can earn a high payout by simply answering yes/no. In this, a trader has to bid some assets to gain bonuses and profits.

Financial regulations in Israel

Forex trading is legal in Israel, according to Amendment 42 of the Securities Law, which was passed in 2015. 

The administration enacted this legislation in response to an increase in the number of foreign-licensed brokers operating on the Israeli market, leaving many local retail investors vulnerable to unscrupulous offshore firms. 

The current trading regulations and brokers are designed to safeguard traders from having a negative trading experience.

For the time being, binary options brokers wishing to operate in Israel must first receive a license from the Israel Securities Authority (ISA). 

To do so, businesses must demonstrate their ability to deal with market volatility by providing a solid operational capital of at least US$200,000. 

Furthermore, regulated brokers are required to submit monthly reports detailing their trading actions.

Furthermore, in order to safeguard minors, the ISA must adhere to specific openness rules in its operations. Additionally, brokers are accountable for informing individuals about the hazards connected with forex trading. 

Another critical point is that the ISA mandates forex dealers to have two separate accounts: receiving and sending money.

In this sense, the ISA assists traders in avoiding substantial losses. Furthermore, the Israeli regulator placed limits on maximum leverage based on the volatility of the traded assets. 

Brokers are not permitted to provide financial advice or recommendations to traders under Israeli legislation.

# Trading fee

#1 Fee: Quotex

The profit on Quotex.io is computed using its various tools and instruments, which fluctuate depending on factors such as the number of available assets, transaction time, and economic events.

For example, the EUR/USD is currently trading at an 80 percent profit. Therefore if a client or customer buys $1000+ assets and monitors the fluctuating curve of its value, they would finish up with a profit of $1800.

#2 Fee: Race Option

You can place a bet of a minimum of $1 on RaceOption.

#3 Fee: Olymp Trade

Olymp Trade’s fee approach is considerably different from those of its competitors. They charge a 15 percent overnight fee for trading that is deducted from your account.

On the other hand, the broker platform does not charge its traders for account maintenance or custodial costs. The accounts, however, are subscription-based. This means that after 180 days, you’ll need to sign up for a membership.

 Not only that, but if the account is ignored for an extended period, they levy an inactivity fee.

The sum is little. If the amount is meager, only $10 per month is required to keep the account open.

Olymp Trade charges an extra cost for every trade in FX mode, which is decided by the trade size, multiplier, specification criteria, and current market position.

#4 Fee: Binomo

They do not impose commission fees. However, if a trader’s account has been inactive for 30 days, the broker will assess a cost of $10/€10. 

If the account is not used for a month, the broker will charge the exact amount. This fee applies to all sorts of trading platforms and accounts.

#5 Fee: Pocket Option

As a binary options trading broker, Pocket Option has relatively low fees. When trading on a live account, they don’t charge fees. Therefore you won’t lose any money. There are also no charges for deposits, withdrawals, or inactivity.

Pocket Option should payout at a competitive rate to traders.

Features of Binary Broker platforms

#1 Features: Quotex

• A simple user interface with a dependable online trading platform; • A low minimum deposit amount and no withdrawal fees.

• It is available in more than 19 global languages, allowing English-speaking merchants in Israel to trade on it readily.

• There are copy trading support tools available.

• Quotex offers a variety of trading indications.

• Bonuses of up to 40% can be earned during a deal.

Overall Rating – 4.7/5

#2 Features: Race Option

  • Trading platform that is simple to use
  • There are numerous perks and contest opportunities.
  • Across 150 assets are available all over the world.
  • Processing times for deposits and withdrawals are quick.
  • Customer service is available 24 hours a day, seven days.

Overall Rating- 4/5

#3 Features: Olymp Trade

  • There are currently over 70 assets to trade.
  • The minimum deposit is $10, and the minimum trade fee is $1.
  • Exceptional educational attainment
  • The importance of the ‘client experience’ cannot be overstated.

Overall Rating –  5/5

#4 Features: Binomo

  • Low entry criteria, making it suitable for newcomers.
  • Account tiering is straightforward.
  • The minimal deposit is ten dollars.
  • A platform with a unique design that performs well on mobile devices.
  • Withdrawals are rapid and precise.
  • A fully functional demo account that gives traders the confidence they need to trade.

Overall Rating- 4.7/5

#5 Features: Pocket Option

  • There are over 130 assets to trade.
  • Deposits are made instantly, while withdrawals are processed within 24 hours.
  • Achievements, social trading, and tournaments
  • With your first deposit, you will receive a 50% incentive.
  • Trades with a minimum of $1
  • There is no obligation to sign up for a demo account.
  • It’s available in 22 different languages.
  • Regulated and trustworthy

Overall Rating – 5/5

Deposits

#1 Deposits: Quotex

Quotex is a company that requires a minimum deposit of $10. They provide both demos and live investment accounts. 

Quotex accepts a number of payment methods that vary by country, including the most popular and commonly used payment methods used by binary options brokers, such as bank cards, cryptocurrencies, e-wallets, and wire transfers!

#2 Deposits: Race Option

The minimum deposit for Race Option’s lowest tiered account is $250. 

Traders are facilitated with a number of payment methods for deposits that other broker platforms may not provide:

You can add funds to your binary account via:

  • Bank wire transfer
  • Bitcoin
  • Debit Card
  • Credit Card
  • Other cryptocurrencies – Ethereum, altcoins, tether, etc.
  • E-Wallets

RaceOption also takes PayPal, making its services more accessible and secure for traders. 

Apart from credit card payments, Race Option won’t charge you a penny for transferring the funds.

They do urge you to be aware of third-party fees, such as those paid by your bank.

Your money will reflect into your profile immediately after the transaction if you use a credit card, but all other methods can take up to an hour to complete.

#3 Deposits: Olymp Trade

To add money to one’s account, one can do so in one of the following ways:

  • Neteller
  • Debit or Credit Card 
  • Bank transfer 
  • Skrill
  • Cryptocurrency

Apart from the bank transfer, which takes time, other means of depositing the money will transmit the money instantly.

Although there is no commission cost associated with a bank transfer, the bank may charge you a fee for moving the funds.

You can get started right now with a £10 minimum deposit.

#4 Deposits: Binomo 

Binomo’s minimum deposit requirement is based on the account type you select to open. You can start trading with real money with a Standard account for as little as $10, but with a VIP account, you’ll need to deposit at least $1000 right away.

#5 Deposits: Pocket Option

When you first start with Pocket Option, we recommend conducting some research on deposits and withdrawals. 

You’ll notice that you may deposit with debit and credit cards, e-wallets (such as Skrill and Neteller), and even cryptocurrency. Bitcoin is accepted, as well as other widely accepted currencies. I

In fact, they have over 100 different payment alternatives.

Withdrawals

#1 Withdrawals: Quotex

In Quotex withdrawal methods include WebMoney, Skrill, QIWI, and Yandex. These are also the methods you’ll use to get money out of your account.

#2 Withdrawals: Race Option

RaceOption has a one-of-a-kind withdrawal mechanism. 

The best part of trading with Race Option is their withdrawal time. With Race Option, you can trade as much as you want and withdraw your money just within one hour, regardless of what withdrawal method you choose. 

The same is true for credit cards, bitcoin, and e-wallets.

You can make payments using the same techniques that you can make deposits. 

Some traders find this platform dicey due to its high performance, but in reality, there isn’t anything to worry about. However, one can have issues with speed and connectivity. 

#3 Withdrawals: Olymp Trade

At Olymp Trade, withdrawals aren’t a problem. Although the platform advertises that the transfer will take three working days, most withdrawals are completed within 24 hours, which is astonishing.

#4 Withdrawals: Binomo

You may be charged a 10% fee when withdrawing your funds, but only if you haven’t completed a particular amount of transactions.

Don’t worry. Your information will be encrypted end-to-end by the platform, and the broker will protect your essential funds worth up to $20,000 from fraud.

#5 Withdrawals: Pocket Option

Unlike many other brokers, the Pocket Option does not charge a commission on deposits or withdrawals. As previously stated, the minimum deposit is $50, and the minimum withdrawal is $10. 

It’s still a good idea to consider any transaction or currency conversion fees your supplier or bank may levy, as these can eat into your profit margin.

Customer Support

#1 Customer Support: Quotex

If you have any questions or need personal help about the platform, you can contact the Quotex staff directly through their interface via a ticket or the live 1:1 chat option.

If your issue isn’t resolved, you can always contact them by email at [email protected]

You can also write to their main office. The following is the address:

Awesomo Limited, Republic of Seychelles, Mahe Island, Victoria City, Francis Rachel Street, Sound & Vision House, 2nd Floor, Office 1. 

#2 Customer Support: Race Option

RaceOption makes it simple to contact them via a variety of methods. A chat window appears when you visit the site, in addition to email and phone help.

 RaceOption also prominently displays all additional contact options, including their phone number, at the top of each page. You can also utilize the contact form on their website if you don’t require quick assistance.

You contact the team at:

+1-829-947-6392; Fax: +1-829-947-6392

Contact: at [email protected] if you have any questions.

Address: Finance Group Corp, Transpacific Haus, 2nd Floor, Lini Highway, Vanuatu

They are also present on social networking sites such as Facebook, Instagram, and Twitter.

#3 Customer Support: Olymp Trade

Email, live chat, and hotline are available from Olymp Trade. Employees work a total of 24 hours per week, seven days a week. Furthermore, as a global broker, service is offered in over eight different languages.

Our experience has been that the support team responds fast and professionally. You can write an expert directly using the chat option if you have any questions.

 In addition, there are extensive FAQ articles that address the most often asked questions. VIP traders are assigned a private account manager who can really assist them directly. It’s nothing spectacular, but Olymp Trade makes an effort to maintain good communication with its clients.

+27 (21) 1003880 Cape Town, South Africa

 +54 (11) 59175747Buenos Aires, Argentina

#4 Customer Support: Binomo

For each customer, Binomo provides 24-hour support in over ten different languages. To contact support and assistance, you can utilize the chat or email functions. 

We put the broker’s support to the test, and we can tell that he responds quickly to our questions. In fact, the site has a large instructional section where you can rapidly get answers to the most often asked questions.

Mail: [email protected]

*No phone number available

#5 Customer Support: Pocket Option

You won’t have any trouble getting in touch with Pocket Option’s customer care because all of their contact information is readily available on their website.

They offer customer assistance 24 hours a day, seven days a week, and their phone number, email address, and mailing address are all listed on their contact page.

If you have a legitimate question but don’t have time to talk, you can submit the contact form on their webpage, and they’ll respond as soon as possible.

Use the following information to contact them through email, postal service, or telephone.

 Phone: 1 (800) 982-1251

 Email: [email protected]

Mobile App

#1 Mobile App: Quotex

For the time being, Quotex does not have a smartphone app. However, one can utilize their web application on their smartphone or tablet at any time.

Traders can keep an eye on the changing market and place deals with a few mouse clicks.

However, based on the platform’s current performance, they might be able to launch their mobile application soon.

#2 Mobile App: Race option

RaceOption’s mobile trading platform, along with its online trading platform, provides an even more accessible manner of trading. While earlier binary options companies took longer to develop mobile apps, RaceOption was the first to do so.

You may get the mobile app for Android and iOS, which has the same features as the web platform. CFD trading, 60-second trading, and One-touch trading are still available, and you can administer your account and portfolio from anywhere.

You won’t have to pay anything more because the app is free. Your data and funds are also safe with one login. You may also examine your account information and live CFD charts to keep up with what’s happening in the market.

#3 Mobile App: Olymp Trade

Olymp Trade’s mobile application is accessible for Apple and Android smartphones. You can also trade with a tablet. The app can be downloaded from the app store and installed in about a minute. 

The Olymp Trade app, like the web version, contains the same trading features and options. 

The advantage of using the mobile phone app is that you may access your portfolio at any time. You can access over 200 different markets with just your smartphone. Furthermore, just like the desktop version, order execution is quick. Overall, Olymp Trade’s mobile app is another reason for its popularity.

It is possible to trade on the go due to the following reasons:

  • The app is compatible with any smartphone (Android, Apple)
  • Desktop trading allows for quick execution.
  • Trade 24/ has the same features as the PC version.

#4 Mobile App: Binomo

Binomo claims to provide a smartphone-accessible platform for binary trading via its mobile app. The app is moreover well-suited for both iOS and Android handsets.

App updates and notifications are used intelligently to keep traders on the edge of their seats, allowing them to view present traders and forthcoming tournaments.

#5 Mobile App: Pocket Option

The Pocket Option mobile apps have access to all of the online platform’s functionalities. Because the platform is already so easy, mobile trading is a breeze.

The technique is the same for both high and low settings, and the UI is simple to set up and use. Because the app is free, you won’t have to worry about incurring any additional costs as a result of wanting to bring your investments with you.

You can use the iOS app on an iPad or iPod touch if you have iOS 11.0 or later installed. If you’re using Android, you’ll need version 4.4 or higher.

Conclusion

The Israeli economy has escalated to its peak in recent years. Looking at the trends from the past nine years, the country alone generates revenue of 5-10 billion dollars every year.

Thus, to safeguard the economy and rights of the Israeli traders, ISA has imposed strict laws with two years imprisonment for fraudsters.

The authority advises their residents and fellow traders from neighboring nations not to fall for any trap that boasts of paying high returns through illegal means.

About the author

Blogger at www.willascherrybomb.de Copywriter website: www.yvonnes-schreiberei.de

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