4 best Forex Brokers and platforms in the State of Palestine –Comparison and reviews 

Due to numerous reports of scammers claiming to offer forex trading services, the Palestine government has banned institutions without trading licenses from operating in Palestine. 

This article covers five regulated and reputable forex brokers that accept Palestinian traders and what you require to start trading in the State of Palestine.

See the list of the best Forex Brokers in the State of Palestine:

Forex Broker:
Open account:
1. RoboForex
RoboForex logo
Starting 0.0 pips & $ 4.0 commission per 1 lot traded
(50+ currency pairs)
+ Huge variety
+ Micro accounts
+ Free bonus program
+ Leverage up to 1:2000
+ ECN accounts
+ MT4/MT5/cTrader
Live-account from $ 10(Risk warning: 78.1% of retail CFD accounts lose money)
2. BlackBull Markets
BlackBull Markets logo
Starting 0.0 pips & negotiable commission per 1 lot
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 78.1% of retail CFD accounts lose money)
3. Pepperstone
Starting 0.0 pips & $ 3.5 commission per 1 lot
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)
4. IQ Option
IQ Option logo
Starting 0.1 pips variable & no commission
(25+ currency pairs)
+ Easy to use
+ Binary Trading
+ Support 24/7
+ Min. Deposit 10$
+ Lowest spreads on main trading hours
Live-account from $ 10(Risk warning: Your capital might be at risk.)

Here is the list of the 4 best forex brokers in Palestine:

  1. BlackBull Markets 
  2. RoboForex
  3. Pepperstone 
  4. IQ Option 

1. RoboForex 

The official website of the Forex Broker RoboForex

It has had more than one million registered accounts since its inception in 2009. Trading instruments include stocks, commodities, energies, metals, forex, ETFs, and CFDs. The International Financial Service Commission in Belize regulates it. 

It has offered services for over a decade and has a wide range of trading resources. It has rebates and trading bonuses that traders can use to increase profits. It also offers multiple trading accounts suitable for different traders.

It has low trading costs and various trading platforms traders can select from. It has high leverage for forex traders who prefer high leverage rates. Traders can also use the CopyFX platform for copy trading.

High leverage trading with RoboForex


  • Minimum deposit-$10
  • License-FSC
  • Platform-R-stocks trader, c Trader, MT4 and MT5
  • Spreads-0.0 pips 
  • Support-24/7
  • Free demo-yes
  • Leverage-1:2000

Account types include the Prime, ECN, Pro, and Pro-cent accounts require a minimum deposit of $10, while the R-stocks trader has $100. Pro and Pro-cent have forex spreads from 1.3 pips, the ECN and Prime from 0.0 pips, and the R-stocks trader from $0.01.

The ECN has commissions of $20 for every $1 million, the prime account has $15 for every $1 million, the R-stocks trader commission starts at $1.5, while the Pro and Pro-cent have no commissions. 

RoboForex Logo

Disadvantages of RoboForex

  • It has limited trading instruments. Although RoboForex offers trading instruments, they are limited to categories such as forex pairs and cryptocurrencies. It also has a limited number of tradable cryptocurrencies offered.

(Risk Warning: Your capital can be at risk)

2. BlackBull Markets

The official website of the Forex Broker BlackBull Markets

Since 2014 it has registered thousands of traders on its trading platform. Trading instruments offered include CFDs, metals, forex, Commodities, Indexes, shares, and energies. It has a trading license from Financial Services Authority. 

It is a forex broker that offers quality trading features and fast execution speeds and supports MT5 and MT4. It has low trading costs, tight spreads, and low commissions for most trading instruments.

It also offers third-party social trading platforms such as Zulu Trade and MyFXbook. It also has a mobile application that makes it accessible wherever the trader is as long as they have a stable internet connection. Besides, the broker has a desktop and website version compatible with IOS and windows.

BlackBull Markets creation history


  • Minimum deposit-$200
  • License-FSA
  • Platforms-MT4, MT5
  • Spreads-0.0 pips
  • Support-24/5
  • Free demo-yes
  • Leverage-1:30

It offers three trading accounts, and the ECN Standard has a minimum deposit of $200; the ECN Prime requires $2000, and the ECN institutional with $20,000.Forex spreads on the ECN Standard start at 0.8 pips, ECN Institutional at 0.0 pips, and the ECN Prime from 0.1 pips. 

The Prime account has commissions from$6 for every $100,000, and the ECN institutional varies with the asset and the volume, and the ECN standards have no commissions. Deposits and withdrawals are free. It offers no inactivity costs, and the rollover costs apply. 

Disadvantages of BlackBull Markets

  • The FSA of Seychelles regulates it, and traders find this broker has light regulations compared to other forex brokers regulated in the EU jurisdictions.

(Risk Warning: Your capital can be at risk)

3. Pepperstone

The official website of the Forex Broker Pepperstone

Since 2010 when it started operating, it has registered thousands of trading accounts. Trading instruments offered include forex, indices, commodities, shares, and ETFs. It has a trading license from Financial Conduct Authority and Australian Securities and Investment Commission. 

It is a forex broker with low trading costs, fast execution speeds, and a secure trading environment. It is regulated by the FCA, which means it complies with investor protection rights and offers negative balance protection.


  • Minimum deposit-$200
  • License-ASIC, FCA
  • Platform-MT4, MT5,c Trader
  • Spreads-0.0 pips on the Razor account
  • Support-24/5
  • Free Demo-no
  • Leverage-1:400

It offers the Standard and Razor accounts, all with initial deposits of $200. Forex spreads from 1.3 pips in the Standard account, while the razor account has 0.0 pips. The razor account charges $7 per round turn for every $100,000, but the Standard account has no commissions. 

It has low trading costs, the deposits/ withdrawals are free, and it has no inactivity costs. Traders can transfer funds via bank transfers, credit cards, debit cards, Bpay, UnionPay, PayPal, POLi, Skrill, and Neteller. 

Disadvantages of Pepperstone

  • It has limited research materials. Traders require research materials when they want to start trading. These can be in news, articles, videos, and analysis of financial markets.

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

4. IQ Option

The official website of the forex broker IQ Option

It got launched in 2013 and has registered thousands of forex traders. Trading instruments offered include Commodities, Binary options, FX options, digital options, Forex, CFDs, Cryptocurrencies, and ETFs. It has a trading license Cyprus Securities and Exchange Commission.

It is a trading broker that offers a wide range of trading instruments. It is regulated by a tier-one jurisdiction, which has made it one of the trusted brokers. IQ Option is one of the few forex brokers that offer Binary Options (only for professional traders and outside EAA countries) in the financial markets.

It has low trading costs and almost no commission for most trading instruments. Traders can apply different trading features available on the platform like risk management tools, numerous indicators, and advanced charting software.


  • Minimum deposit-$10
  • License-CySEC
  • Platform-IQ Option trading platform
  • Spreads-from 0.8 pips
  • Support-24/7
  • Free demo-yes
  • Leverage-1:500

It offers the VIP account types with the initial deposits varying, and the Standard account has $10. Forex spreads change with the liquidity and volatility of the trading instrument. 

It has commissions of 2.9% for cryptocurrencies, and other trading instruments are free. Overnight costs range from 0.1-0.5%; deposits are free, although withdrawals using bank transfers have a $31 withdrawal fee. It has inactivity costs of $10 for three months of inactivity.

Disadvantages of IQ Option

  • It does not support MT4 and MT5. Most traders prefer to use the MT5 and MT4 trading platforms, unavailable on IQ Option.

(Risk warning: Your capital might be at risk.)

What are the financial regulations in Palestine?

The securities industry in Palestine started its official operations in 1997. It consists of insurance sectors, financial providers, banking, investment companies, Palestinian Exchange, and other financial services. The government is keen on attracting local and foreign investments by developing technological infrastructure and no taxes on capital gains. 

It has also established regulations and legislation to ensure the safety of forex investors, transparency, and fairness among participants. The finance ministry established the first legislation in 2004, which consisted of the Securities law (12) of 2004 and Capital Markets Authority law (13)of 2004. 

It led to the establishment of the Palestinian Capital Markets Authority PCMA, which is responsible for regulating the financial markets of Palestine. Forex traders in Palestine can start trading by registering a trading account with a regulated forex broker and start trading. 

Palestinian Capital Markets Authority PCMA logo

The securities and exchange industry is governed by the capital markets’ authority to land the securities laws. These laws are enforced by the PCMA, which has the mandate to supervise the non-banking sector of finance. 

The PCMA is headed by a board of directors and is divided into several departments that perform different functions. The general function of this regulated authority is to create the policies that regulate the capital markets of Palestine. 

It creates the regulatory framework for inspection, supervision, and investigating of the entities regulated by the PCMA. It also issues the guidelines on which financial dealers such as forex brokers should operate when disclosing crucial information and the promotions or bonuses allowed.

The PCMA reviews the application requests and gives licenses to companies that qualify the standards as required. It establishes and implements laws that ensure financial dealers offer trading tools that comply with Sharia laws for the Muslim trading population.

It has the authority to revoke licenses of market participants found illegally dealing in securities and report financial companies that engage in market manipulation, fraud, and insider trading. 

Security for traders from Palestine – Important facts

The PCMA ensures forex brokers have a safe trading environment by ensuring financial companies require a license to operate in Palestine. It aims at reducing the cases of forex scams to Palestinian investors. 

Forex brokers also must ensure they offer industry-standard trading equipment according to international standards. It regulates the financial technology used in the securities markets to prevent it from being used to infringe on investor rights. 

Can I legally trade Forex in the State of Palestine?

Flag of Palestine

It is legal to trade forex in Palestine if you register a trading account with a licensed forex broker. It is regulated by the PCMA, an independent agency with the authority to establish and implement regulatory legislations that govern the forex industry. 

The regulations ensure that the forex trading industry is transparent and secure. The government of Palestine has set up the PCMA to oversee stabilizing the financial sector and mitigating fraudulent activities that had developed in the forex industry. 

How to trade Forex in Palestine – Guide for traders

Open account for Palestinian traders

The forex industry in Palestine has been having issues with forex traders losing money to scams. Although the PCMA has put measures to reduce the number of unregulated brokers in the sector, the forex trader must ensure they check the validity of the trading license of a forex broker. 

Other factors to consider before choosing are the trading costs, the trading features offered, order processing speeds, customer care, and payment methods offered. These features are available on the website of the trading broker, or you can open a demo account to test the features.

Open a trading account with the forex broker you have selected by filling in your details on the online registration form. The registration form requires you to give your name, email address, telephone number, date of birth, account type, and password. 

Some forex brokers will request trading experience and financial background to evaluate the trader’s risk tolerance, such as employment status. The registration process follows the AML regulations that aim to identify registered clients and reduce money laundering and funding of terrorism. 

Forex brokers usually support various trading platforms, and others have their proprietary trading platforms. After registering a trading account, you need to download and install a trading platform that the forex broker supports. 

The trading platform allows traders to access the financial markets. Ensure to navigate the trading platform and customize the trading features such as the trading instruments, the time frames, and the technical tools offered. 

Start with a demo or real account

Traders can start trading on the real account, but starting with the demo account is advisable. The demo account uses virtual funds and offers the same trading conditions as the real account. Before trading on a real account, traders can practice their trading strategies and other trading instruments. 

A demo account is also a crucial tool for new forex traders. It helps to practice the trading strategies they have learned and apply different trading features.

Deposit money

Deposit funds to your trading account with the forex brokers payment methods. Forex brokers support various payment methods, including bank transfers, credit cards, debit cards, and digital wallets like Skrill. Link the payment method with the trading account to deposit funds. 

Ensure to practice the trading strategies before trading on the real account. Use risk management trading tools such as stop-loss and take-profit. Before opening a trading position, use technical and fundamental analysis and monitor the price action when trading. 


The payment methods are depending on your country of residence. Forex Brokers are offering all kinds of methods separately for each country.

Use analysis and strategies 

Traders require technical and fundamental analysis knowledge when evaluating favorable market conditions for opening and closing a trading position. The analysis enables investors to find opportunities for trading and make insightful decisions when trading. 

Technical analysis involves technical tools such as technical indicators, price patterns, and candlestick patterns. These tools help traders know the volume of the traders in the market, the volatility of the trading instrument, and the price movements. 

Fundamental analysis is equally crucial and helps traders predict the price movements by monitoring the direct and indirect factors contributing to the volatility of the trading instrument. They include announcements of interest rate changes from the central bank, trade between countries, price changes in related commodities, and political and economic stability of a country. 

Trading strategies

There are many trading strategies that Palestinian traders can employ, such as:

Scalping – forex traders use this trading strategy with forex brokers offering fast execution speeds and low trading costs. It requires the trader to trade the small price swings by opening small trading positions taking thirty to one minute. It needs the trader to be fast to make profits. 

News trading – is a trading strategy that relies on fundamental analysis. A trader needs to know how to evaluate the interest rates, news announcements, and financial policies related to the trading instrument they want to trade. The news events will help them speculate on the asset’s trend direction. 

Trend trading strategy – is easy for traders who can effectively apply technical and fundamental analysis to predict trends. It works by identifying and trading a trend while closely monitoring the price action for any changes in momentum. 

Position trading – is a trading strategy that relies on both technical and fundamental analysis to identify a trading instrument that has the potential to rise in value. The trader then buys the trading instruments and waits for the asset’s value to increase, and sells it at a higher price. 

Make profits 

Start by understanding the trading instrument through fundamental and technical analysis. Practice the trading strategy on the demo account before trading. Open a trading position when the market conditions are favorable. 

Apply risk management during the trade to limit the risk and increase the chances of profit. Have proper timing when exiting the trade, and follow your trading strategy, to have a higher chance of making profits trading. 

Conclusion: Final thoughts: The best Forex Brokers are available in Palestine

Registering a forex account in Palestine is easy but requires the forex trader first to choose a forex broker. Many forex brokers accept Palestinian traders, but not all of them are regulated, which requires forex traders to be careful when selecting a forex broker. 

We recommend selecting forex brokers regulated with accredited regulatory institutions. Ensure to check the forex broker’s trading features before registering a trading account. 

FAQ – The most asked questions about Forex Broker State of Palestine :

How can I trade as a forex broker in the State of Palestine?

Palestinian forex traders have been losing money to scammers, which is a problem for the market. Forex traders must verify the legitimacy of a forex broker’s trading license, even if the PCMA has set up a system to lower the number of unauthorized firms in the industry.

Before making a decision, you should also think about the trading fees, trading features available, order processing times, customer support, and available payment options. You can test these features by opening a sample account or visiting the trading broker’s website.

Most forex brokers offer support for various trading platforms, and some even have their own. Download and install the mobile version of your selected platform. 

Access to the financial markets is made possible through the trading platform. Make sure to learn how to use the trading platform and adjust the trading features, including the trading instruments, periods, and available technical tools.

What are the best trading platforms to use as a forex broker in the State of Palestine?

After thoroughly reviewing the trading market, we have listed the best trading platforms to trade in the State of Palestine. They are:

IQ Option
BlackBull Markets

Last Updated on October 20, 2023 by Andre Witzel