ISA head seems to take pride in suffocating the trading market and warns even with licensing it's not for everyone.
Bloomberg
Who ever said that a regulator needs to be objective?! The Israeli Securities Authority (ISA) hasn't exactly tried to hide its hostility to online retail brokers before with its head alluding to them being sharp-toothed predators on the hunt for innocent investors. However this type of harsh language is a step up for the body charged by lawmakers to regulate the firms long operating in the Israeli market.
Speaking at a Globes Capital Markets conference in Tel Aviv, Prof. Shmuel Hauser, Chairman of the ISA, was asked about his stance on trading arenas (as online brokers are referred to in Israel) to which he gave a resoundingly negative answer despite admitting that decisions forcing brokers to shut down should not be taken lightly.
Prof. Shmuel Hauser said: “Trading arenas, binary options arenas and the like can sometimes be used as a cover for allegedly unfair activity, which burns the money of orphans and widows, innocent investors and pensioners. This was not lost on us so we have decided that the field must be ordered once and for all.
The law passed a year ago. Today, out of 21 companies that filed requests for licenses only 11 remained and the procedure is expected to end in the third quarter of 2016. We are looking at the firms, their reliability, their capital, who the people behind them are and more. The goal is that only worthy companies will be able to operate for the good of investors.
Prof. Shmuel Hauser, Chairman, ISA (Photo: ISA)
We need to make sure that a company that needs not be with us will not be here. This is a very delicate and important process – on the one hand we need to make sure that those that are not fitting will not get a license and on the other hand this is a decision whose meaning is shutting down companies and that is also not a small matter.
Still, it's important to emphasise that even when the licensing process will be completed, trading in these arenas is not suitable for anyone and it holds high risk. The companies are the counter-party to the clients’ deals and the meaning is that when the client loses the company benefits and vice-versa, thus it is different than investing in the stock market.
Additionally, last March we decided to ban offering binary options in Israel as the instrument is essentially similar to gambling and not a financial investment. I repeat and say, it is never redundant to say, be careful, don’t be tempted to invest without checking that it’s with a licensed entity and don’t be seduced by false charms of high returns with no risk.”
Under Prof. Hauser's leadership the ISA has taken its mandate from the Israeli parliament to regulate the market for the benefit of traders and used it to crack down on many aspects that made it popular to begin with. Beyond the ban on binary options the ISA drafted limitations on CFDs and FX pairs that are uniquely harsh in any relevant international comparison.
Who ever said that a regulator needs to be objective?! The Israeli Securities Authority (ISA) hasn't exactly tried to hide its hostility to online retail brokers before with its head alluding to them being sharp-toothed predators on the hunt for innocent investors. However this type of harsh language is a step up for the body charged by lawmakers to regulate the firms long operating in the Israeli market.
Speaking at a Globes Capital Markets conference in Tel Aviv, Prof. Shmuel Hauser, Chairman of the ISA, was asked about his stance on trading arenas (as online brokers are referred to in Israel) to which he gave a resoundingly negative answer despite admitting that decisions forcing brokers to shut down should not be taken lightly.
Prof. Shmuel Hauser said: “Trading arenas, binary options arenas and the like can sometimes be used as a cover for allegedly unfair activity, which burns the money of orphans and widows, innocent investors and pensioners. This was not lost on us so we have decided that the field must be ordered once and for all.
The law passed a year ago. Today, out of 21 companies that filed requests for licenses only 11 remained and the procedure is expected to end in the third quarter of 2016. We are looking at the firms, their reliability, their capital, who the people behind them are and more. The goal is that only worthy companies will be able to operate for the good of investors.
Prof. Shmuel Hauser, Chairman, ISA (Photo: ISA)
We need to make sure that a company that needs not be with us will not be here. This is a very delicate and important process – on the one hand we need to make sure that those that are not fitting will not get a license and on the other hand this is a decision whose meaning is shutting down companies and that is also not a small matter.
Still, it's important to emphasise that even when the licensing process will be completed, trading in these arenas is not suitable for anyone and it holds high risk. The companies are the counter-party to the clients’ deals and the meaning is that when the client loses the company benefits and vice-versa, thus it is different than investing in the stock market.
Additionally, last March we decided to ban offering binary options in Israel as the instrument is essentially similar to gambling and not a financial investment. I repeat and say, it is never redundant to say, be careful, don’t be tempted to invest without checking that it’s with a licensed entity and don’t be seduced by false charms of high returns with no risk.”
Under Prof. Hauser's leadership the ISA has taken its mandate from the Israeli parliament to regulate the market for the benefit of traders and used it to crack down on many aspects that made it popular to begin with. Beyond the ban on binary options the ISA drafted limitations on CFDs and FX pairs that are uniquely harsh in any relevant international comparison.
iFOREX Adds Saudi and South Korean Equity CFDs as IPO Is Delayed
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
