Sister Radhika Tho Midnight Boothu Dengulata

The forex industry is thriving in Israel. In a country of only 7 Million people, there are more than 20 active forex companies. With no regulation of this market, fraud is abundant.[citation needed] Even though the Israeli market is relatively small, the dimensions of fraudulent activity, and consequently the number of victims, have reached levels far beyond those in much larger countries like the U.S. According to current estimates there are tens of thousands of investors who fell victim to forex scams, and individual losses are up to 3.5 Millions NIS (about 1 Million US$).It is unclear why Israeli authorities ignore the forex industry. The agency who is supposed to regulate the futures market, which includes forex trading, is the Israel Securities Authority (“ISA”). But for reasons of jurisdictional confusion or sheer incompetence, for the many years that retail forex trading exists in Israel, the ISA has failed to take any action.The forex market is a zero-sum game,meaning that whatever one trader gains, another loses, except that brokerage commissions and other transaction costs are subtracted from the results of all traders, technically making forex a "negative-sum" game.