Israeli Regulator Issues Rare Warning Against Dubai-Based 'Trading King' Dmitry Osmolovsky
Dmitry (Dima) Osmolovsky, who brands himself as the "king of trading" from Dubai, claims to generate substantial daily profits through trading in stocks, crypto, gold, forex, and futures. He invests these earnings in Dubai real estate and promotes his services under names like dimafx and dimfx0 via the company Saving Capital. Osmolovsky targets Israeli investors remotely, offering investment portfolio management and directing them to trade on the unlicensed GODO trading platform. His outreach to Israelis is conducted in Hebrew through websites, social media, Telegram, and Discord groups.
The Israel Securities Authority (ISA) has issued an unusual public warning against Osmolovsky, stating that his activities may constitute unlicensed portfolio management and illegal solicitation to trade on an unlicensed platform. The ISA emphasizes that managing investment portfolios in Israel requires a license, and only licensed platforms may legally solicit Israeli investors. The regulator warns that engaging with unlicensed entities exposes investors to risks such as misleading information, conflicts of interest, lack of suitability assessments, and absence of regulatory oversight.
Osmolovsky presents Saving Capital as an educational platform focused on responsible trading, risk management, and developing independent thinking, highlighting that trading involves risks and is not suitable for everyone. However, the ISA's information suggests that his actual operations involve unlicensed investment management and directing Israelis to trade on GODO, which lacks Israeli regulatory approval.
Due to Osmolovsky operating from abroad, enforcement by Israeli authorities is challenging. So far, the ISA has limited its response to issuing the warning without initiating enforcement actions or penalties. The regulator also clarifies that the warning does not constitute a final legal determination and reflects information current at the time of publication.
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