Clarifications and Explanations for Foreign Securities Trading
Leumi Trade enables Trading in Foreign Securities from your Securities Portfolio
What type of Foreign Securities can be traded via Leumi Trade?
Leumi Trade enables trading in American Stocks and ETFs on the following US Markets: NASDAQ, AMEX, NYSE, including in Israeli Stocks traded on Wall Street, according to the Trading regulations in each of the above markets.
In addition, European Stock Trading is also available in the following countries: Germany, England, France, Belgium, Holland, Switzerland.
- Trading Hours in American Securities, via Leumi Trade, are 6:00 AM till 23:15.
- Trading hours in US Markets in local Israeli time are 16:30-23:00 (In accordance with Daylight Saving Time), Monday through Friday, when Markets are open.
- Trading Hours in European Securities via Leumi Trade are 10:00 AM till 18:30 local Israeli Time, when European markets are open.
- Trading Hours in Canadian Securities via Leumi Trade are 16:30 till 23:00 local Israeli Time, on trading days only.
Real Time Quotes and additional information
Leumi Trade enables viewing Real Time Quotes of US Stocks and US ETFs, with no additional charge (The service requires enlisting with the above Markets. For your comfort, you can enlist via Leumi Trade). In addition, Leumi Trade includes comprehensive information in Hebrew about American and European Stocks.
When trading in foreign securities via Leumi Trade you are charged with a reduced Buy/Sell Commission: Every transaction of either Buying or Selling foreign Stocks or ETFs will be charged a commission of 0.3% of the transaction*, with a minimum fee of 25 US$ (If the transaction is lower than 75US$, the minimum fee will be one third of the total transaction sum).
*Up to a maximum of 15,000$ per transaction. Customers that have other benefits will receive the higher reduction.
No Charge for Changing/Cancelling orders, and for Unexecuted Orders
Changing or Cancelling orders via Leumi Trade, and orders that had not been executed, are fully exempt from commissions (For comparison, the commission for changing or cancelling orders in a bank branch is 27 Shekels).
Do I need to open a foreign currency account?
In order to trade in foreign securities, it is necessary to open a foreign currency account, since all activity relating to holding foreign securities (corporate actions, benefits etc.) is carried out in foreign currency. You must request that your branch connect your foreign currency account to your securities portfolio.
Validity of Foreign Security Orders placed on Leumi Trade
- One day
- Orders with a future date: If order was placed till the 15th of the month - till the end of the current month. If order was placed after the 15th - till the end of the following month. In any case no more than 45 days maximum.
After transaction is completed - when is the Monetary Value calculated?
When trading in stocks or in ETFs that are traded in the USA markets, debit/credit time in your account (including commission charges) will occur 3 business days following transaction time.
When trading in stocks or in ETFs that are traded in the European markets, debit/credit time in your account (including commission charges) will occur 2 business days following transaction time.
You can view transactions that have not yet been financially calculated in "Transaction History" (Transaction that have not yet been credited/debited).
Changing and Cancelling Orders that have not yet been executed
- Changing\Canceling American Stock Orders that have not yet been executed, can be done starting from one hour before the USA Opening Trading times and until Closing times.
- Changing\Canceling European Stock Orders that have not yet been executed, can be done only during European trading hours, 10:00-18:30 Israel Time, on European trading days.
- Note, changing and cancelling orders always depends on and is subject to receiving final approval from the Broker.
- Following order status can be done in "Orders and Transactions" screen<