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:
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.
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 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 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.
#1 Interactive Brokers
Interactive Brokers at a glance
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.
76% of retail CFD accounts lose money.
eToro at a glance
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.
#3 Saxo Bank
Saxo Bank at a glance
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.
82% of retail CFD accounts lose money.
Plus500 at a glance
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 easy to use 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.