Israeli Securities Authority Warns Against Unlicensed Dubai-Based Trader Targeting Israelis

On Wednesday, the Israeli Securities Authority (ISA) issued an unusual public warning about Dmitry (Dima) Osmolovsky, who operates through the company Saving Capital, also known as Dimafx or Dimfx0. The ISA alerted the public that Osmolovsky's activities may constitute unlicensed investment portfolio management and that he directs Israeli investors to trade on the unlicensed GODO trading platform.

Saving Capital also owns an inactive Israeli domain (co.il). According to the ISA, Osmolovsky, who operates from abroad, markets investment management services to Israelis through Hebrew-language websites, social media, Telegram, and Discord groups. In May, he appeared in a video shared by an Israeli influencer, where he was praised for his trading skills and shown enjoying luxury lifestyle symbols in Dubai, including upscale restaurants and luxury cars. The video claimed returns of thousands of percent within 3-4 months.

The ISA emphasized that managing investment portfolios requires a valid license from the authority unless a legal exemption applies. Additionally, offering trading services is only permitted through platforms licensed by the ISA. Unlicensed activity is not subject to regulatory oversight or investor protections. The ISA noted that once funds are transferred abroad for investment management, it has limited means to monitor these transactions, which often occur privately and outside Israeli jurisdiction.

The authority urged investors to verify that any financial service provider holds a valid ISA license before engaging. It warned that unlicensed services carry heightened risks, including misleading information, conflicts of interest, lack of suitability, and absence of regulatory controls. The ISA clarified that its warning does not constitute a final legal judgment and is accurate as of the publication date.

This announcement serves as a caution to Israeli investors about the risks of dealing with unlicensed foreign traders and platforms, highlighting the importance of regulatory compliance and due diligence in financial activities.