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

March 14, 2017 11:52 am UTC, Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital

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.