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Is Charles Schwab available in Israel? Alternatives in 2024

Minho Investment Association| Updated April 3rd, 2024

Investors looking to buy and sell stocks will often look towards recognisable names and brands. Charles Schwab is an investment company that’s well-known and respected around the world, so it’s no surprise that investors in Israel want to know if it’s possible to invest using the platform!

Keep on reading if you’re keen to find out if the Charles Schwab platform is available to investors in Israel. We’re going to uncover everything you need to know about opening an account in Charles Schwab and other relevant alternatives in Israel.

Is Charles Schwab available in Israel?

Yes, signing up for the ‘Schwab One International’ brokerage account from Israel is possible. But there are some crucial things investors need to understand about using the platform in Israel.

Charles Schwab works primarily in the US; however, the company offers an ‘international’ service open to applicants from Israel. The downside is that there are some strict criteria to meet, which may limit who this brokerage is suitable for (more on that below).

How to use Charles Schwab in Israel?

Since Israel is an Asian country, there are some restrictions that this country’s residents must follow to open an account with Charles Schwab.

If you’re curious about using the Charles Schwab brokerage in Israel, you’ll need the following information to hand:

  • Your tax ID or social security number
  • Current ID – this will need to be your passport, or another suitable form of identification (depending on where you’re based).
  • Proof of residence – you’ll need a recent utility bill (gas, electric, water, cable) or some other proof of address (containing your full name, address, and date).
  • Employment details – you have to provide the name and mailing address of your current employer.
  • Access to a scanner – to upload all your documents with Charles Schwab, you’ll need a printer and a scanner. 

Some points you need to consider about opening a Charles Schwab account in Israel:

  • There’s a $ 25,000 minimum deposit to open an account;
  • You can only trade in US dollars;
  • Only using one currency means that if you use the Euro or any other currency, you’ll have to pay a currency conversion fee to invest;
  • For most US stocks, you don’t have a commission, but your investment choice is limited. For example, you can’t buy US ETFs.

Charles Schwab alternatives in Israel

If you’re in Israel and want to access the best brokerages and investing options, some alternatives to Charles Schwab provide more choice and flexibility. 

Here are some of the best brokerages available in Israel that may be more suitable than the limited Charles Schwab Account:

Interactive Brokers

Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options), and low currency conversion fees (FX fees). It also launched IBKR GlobalTrader, a modern mobile trading app to trade stocks, ETFs, and options, ideal for novice investors.

eToro

The leading social trading platform with 30M+ users worldwide. Copy other traders/investors, invest in one of the pre-built portfolios, or trade for yourself with 0% commissions on stocks and ETFs (other fees apply).
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Saxo Bank

Saxo is a multi-asset broker providing retail and institutional clients access to a full suite of investment products like stocks, bonds, funds, derivatives, etc. Saxo Bank also has a proprietary trading platform (SaxoTraderPRO) and high-touch customer support.

Plus500

Plus500 is a multi-asset online broker that offers no commissions when trading CFDs on Forex, Cryptocurrencies, Stocks, Commodities, ETFs, Options, and Indices. It also recently launched Plus500 Invest for those who want to invest in real shares (not available in all countries).
Disclaimer: 82% of retail CFD accounts lose money.

Broker Fees for US stocks Minimum Deposit
Interactive Brokers $0.0005-$0.0035 per share (min $0.35 per order) $0
eToro 0% (other fees apply) $10
Saxo Bank Classic Acc: 0.08% (min. $1); Platinum Acc: 0.05% (min. $1); VIP Acc: 0.03% (min. $1) $2,000
Plus500 up to 0.70% in US stocks $100

#1 Interactive Brokers

Is Charles Schwab available in Israel? Alternatives in 2024 2
Visit Interactive BrokersIs Charles Schwab available in Israel? Alternatives in 2024 3

Interactive Brokers at a glance

Products availableStocks, futures, options, Forex, commodities, bonds, mutual funds, hedge funds, ETFs, CFDs
Minimum deposit$0 ($2,000 for margin accounts)
Deposit methodsBank Transfer, Transfer from Wise Balance
Fees and commissionsBetween $0.0005 and $0.0035 per US share (min. $0.35 per trade); Between 0.01% and 0.08% for other markets

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker that surpassed major financial crises, showing resilience and a rigorous risk management process.

Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from +135 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.

The ISA, the financial market regulator in Israel, supervises the capital market and oversees all entities qualifying as financial market participants. Although IBKR is not regulated by them, they can operate in Israel due to their top-tier regulators.

Want to know more about Interactive Brokers? Check our Interactive Brokers Review and visit the Interactive Brokers website.

#2 eToro

Is Charles Schwab available in Israel? Alternatives in 2024 4
Visit eToroIs Charles Schwab available in Israel? Alternatives in 2024 3

76% of retail CFD accounts lose money.

eToro at a glance

Products availableStocks, ETFs, Cryptos, and CFDs on Stocks, ETFs, Commodities, Forex, Indices, and Cryptocurrencies
Minimum deposit$10,000
Deposit methodsInstant Bank Transfer, SEPA, Maestro, Credit Cards, Debit Cards, and PayPal
Fees and commissions$0 for stocks and ETFs (other fees apply)

Founded in 2007,  eToro is an international online broker with over 30 million users who can trade over 3,000 financial assets, including stocks, ETFs, Cryptos, and CFDs on Stocks, ETFs, Commodities, Forex, Indices, and Cryptocurrencies. Stocks and ETFs are traded commission-free, as a whole, or fractional shares (other fees apply).

eToro’s investment platform, accessible through web and mobile platforms, is a social trading hub. Here, investors can discuss investments, speculations, and market news with fellow investors. eToro also allows users to replicate trading strategies (CopyTrader™) and invest in ready-made investment portfolios (Smart Portfolios) based on thematic investment strategies.

The demo account is particularly useful for a beginner ($100,000 virtual money). It lets you have a real experience hands-on as you would be using real money. So, when switching to a real account, you will notice no difference between your training and the real-life of investing. On the downside, there is a withdrawal of $5, and the only base currency is the USD.

The ISA, the financial market regulator in Israel, supervises the capital market and oversees all entities qualifying as financial market participants. Although eToro is not regulated by them, they can operate in Israel due to their top-tier regulators.

For more details, visit our eToro review and check eToro’s website directly.

#3 Saxo Bank

Saxo-logo
Visit Saxo BankIs Charles Schwab available in Israel? Alternatives in 2024 3

62% of retail CFD accounts lose money.

Saxo Bank at a glance

Products availableStocks, ETFs, CFDs, Options, Futures, Forex, Bonds and Funds
Minimum deposit$2,000
Deposit methodsCredit/Debit card, Wire transfer
Fees and commissionsClassic Acc: 0.08% (min. $1); Platinum Acc: 0.05% (min. $1); VIP Acc: 0.03% (min. $1)

Launched in 1992, Saxo Bank is one of the most solid financial entities in the brokerage industry, with a proven track record of success. It lets you trade over 70,000 financial instruments through their trading platforms: SaxoTraderPRO (for PC) and SaxoTraderGO (on mobile).

The wide range of cash and margin trading products across global markets includes stocks, ETFs, bonds, mutual funds, cryptos, options, futures, CFDs, forex, and more! Saxo Bank presents its advanced research tools for “Buy and hold or trade on leverage”. 

Saxo features three trading platforms: SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. Each app builds upon the former in terms of available tools and sophistication–with SaxoTraderGO being an award-winning choice.

The company remains regulated by many top-tier authorities, such as FCA, SEC, FINRA, BaFin, and ASIC.

If you want to learn more about the broker, check our Saxo Bank review and visit Saxo’s website.

#4 Plus500

Is Charles Schwab available in Israel? Alternatives in 2024 7
Visit Plus500Is Charles Schwab available in Israel? Alternatives in 2024 3

80% of retail CFD accounts lose money.

Plus500 at a glance

Products availableCFDs on stocks, ETFs, options, commodities, Forex, indices and cryptocurrencies. Plus, real shares on Plus500 Invest
Minimum deposit$100
Deposit methodsBank Transfer
Fees and commissionsSpreads and additional fees

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares (on Plus500 Invest) and CFDs on Forex, Cryptocurrencies, Stocks, Commodities, ETFs, Options, and Indices. It is available in over 50 countries and is listed on the London Stock Exchange (ticker: PLUS). 

There are two distinct account types:

  • Plus500 CFD: It only focuses on CFD products;
  • Plus500 Invest: Where you can trade stocks (real shares);

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices, including a mobile app. All platforms are user-friendly and responsive, and you can start testing the features by opening a demo account.

Their customer support is helpful and easy to assess through a chat that is always shown on the trading platform. Their spreads are low, offering accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0,006/share).

The ISA, the financial market regulator in Israel, supervises the capital market and oversees all entities qualifying as financial market participants. Although Plus500 is not regulated by them, they can operate in Israel due to their top-tier regulators.

If you want to know more about Plus500, check our Plus500 Review or visit the Plus500 website.

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

The bottom line on Charles Schwab in Israel

Charles Schwab offers the option to open a Schwab One International account for residents in certain countries like Israel.

Even if it is accessible in your country, Charles Schwab might not be the ideal choice for everyone. It demands a considerably high minimum deposit and comes with limitations on investment options.

There are numerous reputable brokerages that offer more flexible account requirements and a wider range of investment options, making them attractive choices for those seeking to diversify their portfolios.

Minho Investment Association
Contributor

The Minho Investment Association (MIA) is a junior initiative from the University of Minho (Portugal), which aims to promote financial literacy among young people.

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