There are now 111 firms, most engaged in binary options and forex activity, on the red list. Last June, when there were only 40 companies on the list, The Times of Israel
reported that more than one-third of these were Israeli. Despite widespread media exposure in the last year, and
calls from foreign governments to shut the industry down, most Israel-based fraudulent binary options and forex firms continue to operate with impunity, although legislation intended to ban all binary options firms operating from Israel has begun progressing through the Knesset.
The red list of the CFTC — a US government agency that regulates futures and option markets and protects US investors — warns about foreign entities that are operating in the US by soliciting through the internet without having registered with US regulators, a CFTC source said in June. In other words, these entities are breaking US law and it is unlikely that they act in accordance with regulations intended to protect US consumers.
Most of the new additions to the red list are binary options and forex companies targeting retail investors. Because such companies go to considerable lengths to hide the true identities of their owners — often using nominee directors as fronts — it is not an easy task to determine whether they operate from Israel. Nevertheless, The Times of Israel has seen documents showing that the following 15 companies, which are among the 71 companies newly added to the list, have a significant presence in Israel.
These are 10markets, OmegaOptions, Oracle Stone, FXGM, Glenridge Capital, iforex, InsideOption, GTOption, VisionBinary, Weathika, Wynn Finance, Cherry Trade, 33option, Finpari and Utrader.
The Times of Israel has also seen evidence that is not conclusive that an additional 15 companies also operate from Israel, for a possible total of 30 out of 71.
10Markets is owned by an Israeli man named Ben Givon. OmegaOption’s beneficial owner is Yevgenii Zon of Tel Aviv. The beneficial owner of GTOption is Anastasiia Chipysheva from Tollerton, UK, but the company that operates the platform is Wise Group Media in Holon, Israel, owned by Nir Dotan and Hanan Assis.
The owner of Vision Binary is Uri Katz, while Cherry Trade is operated by New Place Media in Tel Aviv. Until recently New Place Media was owned by Benjamin Spiro, who sold the company to David Cartu.
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