Securities Authority warns against 'King of Trading' from Dubai

The Israel Securities Authority has issued a formal warning against Dmitry (Dima) Osmolovsky. He is suspected of managing investment portfolios and referring clients to trading arenas without the required license.

According to the Authority, the activities of Osmolovsky, who also operates through the company Saving Capital and under the aliases dimafx and dimfx0, may constitute unauthorized portfolio management and the promotion of trading on unlicensed platforms.

Information held by the Authority indicates that Osmolovsky, operating from abroad, reaches out to Israeli investors, offering portfolio management services and directing them to open accounts on the GODO trading arena, which does not hold a license from the Authority. This activity is conducted via websites, social media, and Telegram and Discord groups in Hebrew.

In a podcast published last year, Osmolovsky explained that he operates from Dubai, engaging in day trading in the forex market, gold, crypto, and futures contracts:

«Everyone knows that Dima is the King of Trading. We do mentoring, courses. We have a group and we make piles of money every day. We are here (in Dubai) because all the profits from all the businesses I do go into real estate.»

In promotional material for Saving Capital, Osmolovsky describes it as «an educational platform whose goal is to provide practical tools for responsible trading.» He emphasizes a focus on learning the process and risk management, while acknowledging that trading involves risk.

Osmolovsky's location in Dubai is likely the reason the Authority is settling for a warning rather than pursuing substantive proceedings or sanctions. The regulator emphasizes that unlicensed activity is not subject to the supervision or protection mechanisms applied to licensed entities. The Authority urges the public to verify that any financial service provider holds a valid license before investing.