Israeli brokerage First Index has selected DM Communications to handle its PR representation in Israel.
First Index is one of the six forex firms that was given a license by the Israeli Securities Authority to operate in the country. The brokerage offers foreign exchange, commodity trading, and CFDs trading using the MT4 trading platform.
DM Communications is an international agency providing public relations services including crisis management. Operating for seven years, it specializes in areas including finance, technology, ICOs, regulation and law. It works with 70 clients from countries including the UK, South Africa, Thailand, India, Cyprus, Ireland, Ukraine, Russia, France and Switzerland.
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The ISA was given the mandate to regulate the forex market in 2015. 21 firms applied for a license, of which seven were denied and six cancelled their applications themselves. Apart from First Index, FXCM Israel, ATRADE, REAL FOREX, Plus500 and TGL Colmex Capital were given authorization to operate in Israel.
The company recently signed sponsorship deals with Israeli football team Hapoel Haifa and basketball team Maccabi Tel Aviv.
Hanan Tabakaru, CEO of First Index Israel, said: “We chose DM Communications for it combines a deep understanding of the sensitive financial worlds, regulation, and derivatives. In addition, DM Communications works with many international budgets in this specific area, a point that was important to us in view of our global reach. ”
Finance Magnates last reported on First Index when Tabakaru replaced Baruch Toledano as CEO back in July of this year. We last reported on DM Communications when CEO David Malitz attended the Finance Magnates conference in Tel Aviv last year. On the regulation panel, he said: “Opportunistic lawyers are raising dirt against brokers, besmirching their name without cause and no one is enforcing brokers’ rights…forex was an easy target to make a lot of headlines.”