de | cn | ru

Market News

Israel drafts a law prohibiting the marketing of binary options abroad

The Israel Securities Authority has drafted a law that would ban locally-licensed brokers from marketing and advertising binary options outside of the country, online media Finance Magnates reported on Thursday. 

 

This draft comes as a result of the meeting held by the Israeli parliament’s State Control Committee earlier in January this year, where of Knesset members and the ISA discussed the matter. The new law is to be presented at a meeting on February 28th and the Treasury Minister has the power to ban additional products as he sees necessary.

 

The ban envisaged in the draft law in fact means that call centers of major binary options brokers located in Israel will have to shut down. Actually, most Israeli-based brokers have moved out of the country after the ISA’s prohibition on local binary options trading introduced in March last year, and have established units elsewhere, but kept their call centers running. They keep their businesses going by soliciting clients outside the country and ruining Israel’s reputation.

 

As a result, ISA received the grudges from a number of European regulators in relation to its policies regarding binary options, expressing concerns that the regulator is allowing fraudulent activities in the industry.

 

In October last year, the Chairperson of the ISA, Shmuel Hauser, announced that ISA will request amendments in the applicable law, prohibiting the marketing of binary options outside Israel. Obviously, he kept his promise.

 

In fact, many financial regulators lately have intensified their supervisory activity concerning risky instruments, and especially binary options. This week Dutch financial regulator announced its plans to ban advertising of FX, CFDs and binary options and to introduce a cap on leverage.  In August last year, Belgium banned the distribution via online channels of over-the-counter (OTC) binary options, spot forex, and CFDs with leverage. France has also banned the advertising of binary options, forex and CFDs with a leverage greater than 1:5.

TAGS: binary options  marketing ban  Israel  regulation  binary option brokers  ISA 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

ASIC warns against unregulated broker GFC Investment

May 23 2019 11:44:53

  The Australian Securities and Investment Commission (ASIC) has blacklisted unregulated forex broker GFC Investment. The regulator advised investors not to deal with this broker, as it is not authorized to provide financial services in Australia and could be involved in a scam. Read more

UK residents lost over £27 million to forex and crypto scams last year

May 21 2019 11:46:54

  UK’s Financial Conduct Authority (FCA) reported that local investors lost over £27 million to scams involving crypto and forex investments last financial year. Read more

UK’s FCA alerts investors of unregulated brokers 10-Capital and BeAlgo

May 17 2019 08:08:00

  The UK’s Financial Conduct Authority (FCA) has recently added to more unregulated brokers to its warning list: 10-Capital and BeAlgo. Read more

Spain’s CNMV warns HispaMarkets and Gallant Finance are not regulated

May 15 2019 09:36:29

  The Comision Nacional del Mercado de Valores (CNMV) has published a statement earlier this week, warning local investors against doing business with HispaMarkets and Gallant Finance. Read more

Bulgarian FSC opens insolvency proceedings against Matador Prime

May 14 2019 12:53:21

  The Bulgarian Financial Supervision Commission (FSC) has initiated insolvency proceedings against Matador Prime to settle the brokerage company’s relations with its clients, as announced on FSC’s website previous week. Read more

The Central Bank of Indonesia tightens forex trading platform rules

May 13 2019 14:48:01

  It seems that authorities in Indonesia have decided to tighten forex trading platform rules. According to a report from Reuters, the Central Bank of Indonesia (BI) will limit foreign forex brokers to less than 50%, and will also impose certain capital adequacy rules. Read more

Americans make 22 mln crypto exchange visits per month

May 10 2019 17:01:19

The USA is the country with the highest number of crypto account holders in the world, a recent report by the DataLight, an Estonian market research company, shows. Read more

Binance hacked for over $40 mln, halts all withdrawals

May 08 2019 17:45:38

Hour after Binance, one of the biggest crypto currency exchanges, announced that it was hacked for over 40 million USD, the company is still not sure how extensive the breach is and whether hackers are not continuing to siphon coins out of its system, the Financial Times reports. Read more

BaFin orders Olympus Markets to cease operations in Germany

Apr 24 2019 10:47:32

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered unregulated forex broker Olympus Markets to cease offering illegal cross-border trading services to German investors on Tuesday. Read more

CONSOB warns Swissinv24, 4xpremium, AGM Group, IWC Invest and GMT Crypto are clone firms

Apr 23 2019 13:00:37

 The Italian financial regulator CONSOB warned investors that Swissinv24, AGM Group, IWC Invest, 4xpremium and GMT Crypto are companies, and has ordered all o of them to cease their illegal operations in the country. Read more

de | cn | ru