Any firm that wishes to be regulated in Israel must end all binary options trading in just one month.
The Israeli Securities Authority (ISA) officially announced today that it has decided not to approve trading on binary options for companies wishing to be regulated in Israel. The ISA says that the complexity of binary options and the difficulty in pricing them as well as the lack of multi-party trading that enables the creation of a market price, all led to the decision not to approve binary options for trading arenas (as the law refers to brokers).
Taming the Jungle
The ISA adds that any company that included offering binary options trading in its request for an Israeli license will get its license rejected, unless it reports to the ISA within 30 days that it has ended all binary options operations, except for withdrawals, account closures and closing positions.
Prof. Shmuel Hauser, Chairman of the ISA, gave an interesting and colorful speech at a conference in Tel Aviv this morning, saying that the ISA views its role as helping consumers navigate a "dangerous jungle" of investments. Among other things, he said that there are many investment opportunities that disguise themselves as harmless while being sharp-toothed predators on the hunt for innocent investors.
"This is a jungle of unregulated investment opportunities. The operators of the jungle think that the jungle has a law of its own. Well they are wrong. In the state of Israel there is one law and that law applies to everyone. Whoever didn't understand that so far will understand it soon. We are going to bring order to the jungle."
As was leaked yesterday, the ISA writes today that βdue to their characteristics the service is essentially similar to gambling games. The ISA thinks that continued binary options activity will hurt not just all clients (including sophisticated investors) but the reputation of the entire market.β
Today's move is very harsh but has not come totally out of the blue. The Israeli regulators have been taking a very hard stand on certain aspects of Online Trading that they do not approve of, such as binary options and Algo Trading. An example of brokers getting ready for this might be seen in Israeli binary option provider iTrader's decision to launch a new forex venture under the same brand, called iTraderFX.
The Israeli Securities Authority (ISA) officially announced today that it has decided not to approve trading on binary options for companies wishing to be regulated in Israel. The ISA says that the complexity of binary options and the difficulty in pricing them as well as the lack of multi-party trading that enables the creation of a market price, all led to the decision not to approve binary options for trading arenas (as the law refers to brokers).
Taming the Jungle
The ISA adds that any company that included offering binary options trading in its request for an Israeli license will get its license rejected, unless it reports to the ISA within 30 days that it has ended all binary options operations, except for withdrawals, account closures and closing positions.
Prof. Shmuel Hauser, Chairman of the ISA, gave an interesting and colorful speech at a conference in Tel Aviv this morning, saying that the ISA views its role as helping consumers navigate a "dangerous jungle" of investments. Among other things, he said that there are many investment opportunities that disguise themselves as harmless while being sharp-toothed predators on the hunt for innocent investors.
"This is a jungle of unregulated investment opportunities. The operators of the jungle think that the jungle has a law of its own. Well they are wrong. In the state of Israel there is one law and that law applies to everyone. Whoever didn't understand that so far will understand it soon. We are going to bring order to the jungle."
As was leaked yesterday, the ISA writes today that βdue to their characteristics the service is essentially similar to gambling games. The ISA thinks that continued binary options activity will hurt not just all clients (including sophisticated investors) but the reputation of the entire market.β
Today's move is very harsh but has not come totally out of the blue. The Israeli regulators have been taking a very hard stand on certain aspects of Online Trading that they do not approve of, such as binary options and Algo Trading. An example of brokers getting ready for this might be seen in Israeli binary option provider iTrader's decision to launch a new forex venture under the same brand, called iTraderFX.
US Operator of Binary Option Brands Fined $516K for $10M Scam
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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