ISA head seems to take pride in suffocating the trading market and warns even with licensing it's not for everyone.
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.
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.
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.
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
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 🔗 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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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 🔗 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
📣 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 Africa’s 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 🔗 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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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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 Africa’s 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 🔗 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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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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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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