Israeli Markets Watchdog Rejects Yet Another Broker, iTraderFX
- Clients of iTraderFX in Israel are requested to close all positions by Thursday, July 14th.
The Israeli Security Authority (ISA) revealed today that it has rejected the licensing application of iTraderFX. This brings the number of firms remaining in the process of acquiring permission to operate in the country to just ten - less than half of the 21 that started.
This subject will be among the topics discussed in the panel “Financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in Israel – Where Next?” at the Finance Magnates Tel Aviv Conference, June 29th 2016. To join the new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing register now.
iTraderFX was launched by Israeli binary option provider iTrader back in March of this year, less than two weeks before the ISA decided to ban all binary options trading for regulated firms. The watchdog did not provide any details about the reasons for the rejection today but it is obvious the shift away from binary options was not enough to satisfy it.
Before the crippling regulatory process started, the firm was a highly visible player in the Israeli online trading market. iTrader had a strategic partnership agreement valued at 1.2 million NIS with Maccabi Tel Aviv basketball club for 2015/2016 season. It previously had a sponsorship deal with Beitar Jerusalem, one of the most popular football teams in Israel, estimated as worth a million NIS a year.
Clients of iTraderFX in Israel are requested to withdraw their funds and close all positions by Thursday, July 14th.
Commenting to Finance Magnates, iTrader provided its view on the future: "We recently informed the ISA of our intent to sell all of the firm's trading activity and to focus on establishing an online college for a number of main subjects, and among these financial education. The initial investment for developing the college and creating the worthy infrastructure is over a million NIS.
We see as an utmost importance to provide basic tools in financial education to allow the many who are interested to do so while gathering as much valuable experience as possible, using judgment and not in a reckless fashion."
The Israeli Security Authority (ISA) revealed today that it has rejected the licensing application of iTraderFX. This brings the number of firms remaining in the process of acquiring permission to operate in the country to just ten - less than half of the 21 that started.
This subject will be among the topics discussed in the panel “Financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in Israel – Where Next?” at the Finance Magnates Tel Aviv Conference, June 29th 2016. To join the new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing register now.
iTraderFX was launched by Israeli binary option provider iTrader back in March of this year, less than two weeks before the ISA decided to ban all binary options trading for regulated firms. The watchdog did not provide any details about the reasons for the rejection today but it is obvious the shift away from binary options was not enough to satisfy it.
Before the crippling regulatory process started, the firm was a highly visible player in the Israeli online trading market. iTrader had a strategic partnership agreement valued at 1.2 million NIS with Maccabi Tel Aviv basketball club for 2015/2016 season. It previously had a sponsorship deal with Beitar Jerusalem, one of the most popular football teams in Israel, estimated as worth a million NIS a year.
Clients of iTraderFX in Israel are requested to withdraw their funds and close all positions by Thursday, July 14th.
Commenting to Finance Magnates, iTrader provided its view on the future: "We recently informed the ISA of our intent to sell all of the firm's trading activity and to focus on establishing an online college for a number of main subjects, and among these financial education. The initial investment for developing the college and creating the worthy infrastructure is over a million NIS.
We see as an utmost importance to provide basic tools in financial education to allow the many who are interested to do so while gathering as much valuable experience as possible, using judgment and not in a reckless fashion."