iFOREX Gives Up on Israeli Licensing Process, Leaves the Market
Posted: Sun May 29, 2016 2:28 pm
The harsh regulations on online margin trading in Israel have caused another brokerage to withdraw from the market. Israeli clients of iFOREX (CLIO Financial Trading LTD) have just been told that the firm has decided to cancel its application for an ISA license and end its operations effective immediately.
Tzah Druker, the head of the Israeli Trading Arena Association, which represents the industry in its dealings with the regulator, commented: “Despite that iFOREX was in an advanced stage in the Israeli license process, the firm decided that in light of the limitations imposed by the ISA on the field, the business ... (read more)