SpotOption's office is located in Moshe Aviv Tower, on right.
Industry
Gambling and binary options
Founded
2010, 2011 or 2016 (uncertain)
Founder
Pinchas Peterktzishvilly also known as Pini Peter
Headquarters
Ramat Gan, Israel
Key people
Moshe Avrahami, CEO[1]
Production output
$5 billion in trades (claimed) (2015[2])
Services
Backend for 300 affiliates
Number of employees
150 (2016)
SpotOption was a privately held platform software provider based in Israel in the controversial binary option industry, which was banned in Israel starting in January 2018.[3][4] The firm announced that it has left the binary options business and is exploring other possibilities.[5] It had previously announced a downsizing of its operations in Israel and moving many functions to other locations.[6] The firm claimed to have 70 percent share in the market for binary options platforms, and charged binary options firms up to 12.5% of their revenues.[4]
The firm's office in Ramat Gan was raided in a joint operation between the Israel Police and FBI in January 2018. The FBI was searching for evidence in the case of Lee Elbaz. Elbaz, CEO of Yukom, a binary options broker, was accused of fraud. She was convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud in August 2019, and in December 2019 sentenced to 22 years in federal prison. As of March 2020 restitution to victims was still being decided but a figure of $28 million was being considered.[7]
Pini Peter, owner of SpotOption said his company has left the binary options business and "I’m considering closing the company down altogether."[8]
On 30 January 2018 Facebook banned advertisements for binary options trading as well as for cryptocurrencies and initial coin offering (ICOs).[9][10]
^Weinglass, Simona (9 August 2017). "Israel's coalition chief won't rush binary options ban to Knesset". Times of Israel.
^Cite error: The named reference bij1 was invoked but never defined (see the help page).
^Cite error: The named reference timesisrael1 was invoked but never defined (see the help page).
^ abWootfiff, Raoul (29 October 2017). "Israel gave taxpayers' money to key binary options firm to expand into China". Times of Israel. Retrieved 29 October 2017.
^"Exclusive: SpotOption Officially Stops All Binary Options Activity". Finance Magnates. 18 January 2018. Retrieved 18 January 2018.
^"SpotOption Shifts Focus to Global Branches". MarketWatch.com. PR Newswire Europe. 20 March 2017. Retrieved 21 March 2017.
^"US prosecutors: Israeli binary options scammer should pay back $28 million". Times of Israel. Associated Press. 24 March 2020. Retrieved 6 April 2020.
^Appelberg, Shelly (14 January 2018). "FBI Raids Tel Aviv Offices of Binary Options Platform Provider SpotOption". Haaretz. Retrieved 15 January 2018.
^Frier, Sarah; Verhage, Jules (30 January 2018). "Facebook Bans Ads Associated With Cryptocurrencies". Bloomberg. Retrieved 7 February 2018.
^Cornish, Chloe (30 January 2018). "Facebook and regulators move to halt cryptocurrency scams". Financial Times. Retrieved 7 February 2018.
SpotOption was a privately held platform software provider based in Israel in the controversial binary option industry, which was banned in Israel starting...
K} is the strike price and S {\displaystyle S} is the spot price of the underlying asset. Option contracts traded on futures exchanges are mainly American-style...
buyer's prospect (risk) of gain is limited to the option's strike price less the underlying's spot price and the premium/fee paid for it. The put 'writer'...
associate of SpotOption Exchange which sets the price of the option. The price of the option was not a market price, but was set by SpotOption Exchange itself...
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the underlying spot price and the strike price, to the extent that this is in favor of the option holder. For a call option, the option is in-the-money...
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barrier options are: Up-and-out: spot price starts below the barrier level and has to move up for the option to be knocked out. Down-and-out: spot price...
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A foreign exchange spot transaction, also known as FX spot, is an agreement between two parties to buy one currency against selling another currency at...
mid-2012. Spot Image also offers infrastructures for receiving and processing, as well as added value options. In addition to images, Spot Image proposes...
July 2009 and the "pay-on-the-spot" option was phased out on 22 July 2009, meaning cash was no longer a payment option, and stopping was no longer required...
below the spot price. A put option is in the money when the strike price is above the spot price. With an "in the money" call stock option, the current...
Makers must provide this service across one or more products, being Spot, Options and Forwards. There are thirteen LBMA Market Makers who provide the...
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