Satirical stab at binary options fraudsters makes its way into Jewish festival of Purim

Young Jerusalem resident Meir Rubenstein takes an amusing shot at the binary options ‘industry’ this year

Who would have thought that the important Jewish festival of Purim, which centers on the triumph of Mordechai having foiled King Haman’s evil plot in ancient Persia with the help of his cousin and adopted daughter Esther would make its way toward a moot point that troubles financial markets regulators and electronic trading executives around the world?

Purim was celebrated in Jewish communities across the world between the evenings of Saturday March 11 and Sunday March 12 this year, and the usual array of fancy dress costumes were abound as is customary, to represent the story of Purim which is chronicled in the book of Esther – otherwise known as the Megillat Esther – in which against every possible circumstance, the entire future of the Jewish people was turned on its head, with Mordechai and Esther having outsmarted the establishment of the time.

The tradition of wearing fancy dress costumes has been longstanding, and each year there are always very amusing displays of current affairs or satirical attempts at making light of situations that have been in the news.

Among the more traditional clown outfits or circus performers on stilts, are often parodies of prime ministers that have made faux pas, or public figures that have set themselves up for amusing anecdotes to be aimed toward them, often portrayed by Jewish students wishing to amuse their peers.

This year, however, the political figures and movie star parodies paled into insignificance as a modern take on something unpleasant within society became the subject of high spirited Purim-related mockery, that being binary options and the dark shadow that it has cast over Israel’s previously lauded business environment.

FinanceFeeds has made considerable investigations into the binary options sector and has documented several reasons why it should not be categorized as part of the same industry as genuine retail electronic trading businesses, however it has now become the priority of police forces, national governments and global investigatory bodies, hence its high profile and largely nefarious nature, along with the bandits that operate many of the binary options brands has attracted public attention at large in many parts of the world.

Young North London resident Gidon Addleman published a photograph of equally youthful Jerusalem resident Meir Rubenstein, whose Purim costume this year consisted of an orange prison inmate uniform with a prison inmate serial number written on it, accompanied by a board around his neck which read “Binary Options.”

Amusing, yes indeed. Will it catch the attention of the powers that be? Who knows, however public discourse and awareness such as this has to be a good thing and is often effective. Here is Mr Rubenstein in full tongue-in-cheek regalia.

Main image: Purim festival in Jerusalem, 2015

Read this next

Digital Assets

Crypto exchange Bittrex exits US market amid regulatory woes

Bittrex said on Friday it plans to wind down operations in the United States and voluntarily liquidate because of the uncertain regulatory environment surrounding their business.

Institutional FX

Tradeweb completes integration of Nasdaq’s US fixed income platform

Tradeweb Markets has completed the technology integration of Nasdaq’s US fixed income electronic trading platform, formerly known as eSpeed, which it acquired two years ago in a $190 million, all-cash transaction.

Digital Assets

FTX Europe to allow client withdrawals via new website

The Cypriot unit of failed cryptocurrency exchange FTX has launched a new website that it says would allow customers to withdraw deposits of fiat currency and crypto assets after months of suspension.

Retail FX

Liquidators apply to cancel SVS Securities’ FCA license

An update published today by Leonard Curtis said the UK high court of justice has approve their application to bring the special administration of the failed wealth manager SVS Securities to an end.

Digital Assets

Japan forms government panel to pilot digital yen

Japan’s Finance Ministry has created an advisory panel to look at the feasibility of issuing a central bank digital currency, otherwise known as “CBDC”.

Digital Assets

USDC sees massive $10.4 billion outflows in March

Cryptocurrency traders have withdrawn more than $10 billion from the world’s second largest stablecoin, USDC, in less than three weeks even as concerns over the fallout from the Silicon Valley collapse have receded.


OSTTRA’s Joanna Davies goes beyond 30-30-30 data standard at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Joanna Davies about OSTTRA.


CloudMargin’s Stuart Connolly on how to manage collateral amid high rates at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Stuart Connolly about CloudMargin’s SaaS platform, said to be the only cloud-native collateral and margin management system in the industry, at a time of stress due to rising interest rates.


Baton Systems’ Alex Knight on solving post-trade with DLT at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Alex Knight about Baton Systems’ about rising settlement fails, collateral management, and the profile of DLT beyond cryptocurrencies.