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IMPORTANT UPDATE AND WARNING:

We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as FXORO.



ISRAEL: Trading Arenas Union, Israel Securities Authority and Binary Options Ban – What is Going on in Israel?

Israel Securities Authority

Last year in Israel the “Israel Securities Authority” (ISA) and the “Trading Arenas Union” decided to finally make the Forex industry a regulated arena and made all “trading arena companies” (as Forex companies are called in Israel) submit a formal request to join the union as a licensed trader or cease all activities, this is called an ultimatum. The regulation days had begun and the wild west of Forex brokerages pulling in Israeli clients without ever being regulated were now over as it seemed. The new regulations of the “Trading Arenas Union” officially became valid on the 26th of May 2015 after which unlicensed and unregulated Forex brokers were not allowed to legally practice in Israel anymore.

Regulation of Forex “Arenas” as They are Called in Israel

A hand-full of brokers submitted their requests to join the Israeli “Trading Arenas Union” and to be licensed and regulated by it, only about half of them were permitted to get a license and the other half had to either cease all activities in the Israeli markets or sell their company to a regulated broker that successfully got a license (consolidating the market). On the 10th of January 2016 a new Chairman  by the name of Tzah Druker was chosen (replacing former Chiarman – Izik Noy) as head of the Union. Tzah Druker is also the Chairman of “Colmex Capital Markets” since 2014. Colmex also bought out “Smart Capital”, an Israeli Forex brokerage that was refused a license, the former CEO of Smart Capital was non other than Izik Noy, the former Chairman of the “Trading Arenas Union”. This is probably just a coincidence though as the Israeli Forex market has been consolidating ever since the new regulations of 26th of May 2015.

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Israel Bans Binary Options

The Israel Securities Authority that regulates anything that has to do with Securities trading in Israel has also decided that binary options can and will not be part of the regulated trading arenas, that are licensed and regulated by the Union. The “Trading Arenas Union” operates from within the “Federation of Israeli Chambers of Commerce” and was established in 2010 but only really started to do its job on the 26th of May 2015. Companies in the capital market trading arenas (such as Forex brokers), whom provide investors with online platforms for trading in various types of securities, while reducing costs to the banking system, must be licensed and regulated by the Union. The Union took part in the legislative procedures of trading arenas (as Forex companies are called in Israel), overseen by the “ISA“. The new regulator of the trading arenas in Israel (the “Trading Arenas Union”) along with the “Federation of Israeli Chambers of Commerce” and the “Israel Securities Authority” decided to totally ban Binary Options trading in Israel during a committee in April of this year (2016), bringing all Hebrew binary options companies and websites to a halt.

Israeli Binary Options Companies

The ban on Binary Options means that Israeli companies with Hebrew language websites, had to close down those websites and stop recruiting any new Israeli customers. They also could not submit a request to join the Israeli “Trading Arenas Union” and could never be a licensed broker within Israeli territory. We have recently found out that many of the brokerages are still to this day recruiting customers from abroad, as they have companies with offices in Cyprus that are used as a front for binary options websites claiming to be CySEC regulated. These websites and companies actually operate in Israel.

So Whats up Israeli binary options brokers? Whats going on in the Israeli “Trading Arenas Union” that finally decides to regulate Forex but bans binary options and turns the other cheek when brokers continue to operate outside of Israel? Whats going on Israel, banning binary options trade from within your country but still happy to recruit customers from abroad? Well at least if you are going to be sneaky we hope you are really doing things in a smart manner and not using indecent practice towards traders, as many unregulated binary options brokers have been doing. Which one of these Israeli binary options operations are actually regulated?

Not many it turns out. Most of these brokers are illegitimate and use many indecent practices. It is hard to know how many brokers actually operate from Israel but hold offices abroad, regulated or not regulated. What is for sure is that with the current ban, no one in Israel will care much about it because no one can regulate the binary options market. This leads to one important point, if you are going to trade binary options, do it with a regulated broker, preferably a broker that holds a license in your own native country.

The only regulated binary options broker that we know of to be operating mainly from an Israeli location is Banc de Binary. Banc de Binary operates from Ramat Gan in Israel and has offices all around the world. Banc de Binary is CySEC regulated and licensed and it is also registered on the FCA website and registry.