Tradologic’s new clothes – ParagonEX Dynamic

Tradologic turns ParagonEX Dynamic

In April 2019, Finance Magnates reported ParagonEX of Haim Toledano and Saar Pilosof, acquired all IP rights related to the Tradologic trading software to launch ParagonEX Dynamic. Other media have taken over the report and spread the news. Shortly thereafter, “Tradologic” disappeared from the title of and text of the Finance Magnates report and was replaced with “SuperDev“. It is, however, still tagged with Tradologic.

Today Finance Magnates runs a massive ad campaign for the new Tradologic clothes. The broker software is apparently offered under the ParagonEX Dynamic branding as Platform-as-a-Service (PaaS) for small and medium-sized Forex, CFD and crypto brokers. However, there are substantial legal discussions between the former Tradologic shareholders about the company’s IP rights. Tradologic founder Ilan Tzorya and his former partner Gal Barak are in the epicenter of this legal dispute.

Global FinTech Solutions with Gal Barak, Gery Shalon, Uwe Lenhoff and Gal Barak

Gal Barak and his co-partners claim that the IP rights sold by SuperDev are actually held by Tradologic Solutions Ltd, which in turn is denied by SuperDev. The legal fight is going to be interesting.

Gal Barak, the CEO of Tradologic Solutions Ltd and its sole shareholder Global FinTech Solutions Ltd, both registered in the British Virgin Islands, as well as his partner Uwe Lenhoff were arrested in February 2019 in the course of an EU-wide enforcement action on charges of financial crime, money laundering and fraud involving Tradologic and the platforms XTraderFX, SafeMarkets, GoldenMarkets, OptionStarsGlobal, Option888, XMarkets, TradoVest and others.

Apart from the broker schemes mentioned above, the Tradologic platform is also at the center of the investigations of the respective authorities. Hence, it will be interesting to see whether ParagonEX Dynamic will be impacted by these legal procedures.

ParagonEX is about to do a sort of reverse takeover (RTO) with the NASDAQ-listed MICT Inc and has been valued at around $165 million.