How Americans Can Buy Stocks on the Tel Aviv Stock Exchange (TASE)

U.S. investors can access Israeli equities through international brokers that offer TASE connectivity.

Step-by-Step

1. Choose a Broker with TASE Access
   • Interactive Brokers (IBKR) — direct TASE routing, low commissions.
   • Saxo Bank — global platform, TASE coverage.
   • eToro — social trading, Israeli stocks as CFDs or real shares (region-dependent).
   • Firstrade, TradeStation, Charles Schwab (via Global Account) — verify current TASE eligibility.
2. Open & Fund Account — Standard KYC/AML; W-8BEN for tax treaty benefits (15 % dividend withholding under U.S.-Israel treaty).
3. Search by Ticker — TASE uses 3-4 letter symbols (e.g., TEVA, NICE, BANKLEUMI).
4. Place Order — Market/limit; TASE hours: Sun–Thu 9:30–17:30 IST (UTC+2/3).
5. Settle & Custody — T+2; shares held in broker’s omnibus account or local custodian.

Costs & Caveats

• Commissions: ~$0.01/share or 0.08 % (IBKR); higher at others.
• FX spread: USD→ILS conversion.
• Tax: 15 % dividend withholding (treaty); capital gains per U.S. rules.
• Liquidity: Small-caps thin; use limit orders.
• Regulatory: TASE reports to ISA; U.S. investors subject to PFIC rules for some ETFs.

Alternative

ADRs (Teva, Check Point, CyberArk) trade on NASDAQ/NYSE — simpler, no FX, same economic exposure.