Wonderinterest Trading Hit With €100k CySEC Fine Over Failures

CySEC has imposed an administrative fine of €100,000 on CIF license holder Wonderinterest Trading Ltd for breaches of the Investment Services and Activities and Regulated Markets Law of 2017. According to the regulator, the violations occurred during the period from 2022 to 2024.

Wonderinterest Trading Ltd operates several contracts for difference (CFD) brokerage brands that focus mainly on Eastern European markets, including Slovakia, Czechia, and Hungary. Its brands include Investago and Zetano, which offer leveraged trading products to retail clients across the region.

Wonderinterest Trading Hit With €100k CySEC Fine Over Failures

CySEC stated that the fine is in three parts. A €50,000 penalty was for violations of section 22(1) of the Law, relating to failures to meet authorisation conditions. The regulator found that the company did not establish adequate internal policies and procedures to ensure compliance with its regulatory obligations. In addition, Wonderinterest Trading did not define a clear target market for each financial instrument and failed to assess all relevant risks linked to those target markets, as required under product governance rules.

A further €30,000 fine was for breaches of section 25(1) of the Law. CySEC concluded that the firm did not act honestly, fairly, and professionally when providing investment services, and did not sufficiently safeguard the best interests of its clients.

The remaining €20,000 penalty relates to violations of section 25(3)(a) of the Law. CySEC said the company did not ensure that information and marketing communications addressed to clients or potential clients were fair, clear, and not misleading, in line with the requirements of Delegated Regulation (EU) 2017/565.

In explaining the penalty amount, CySEC highlighted the need for supervised entities to comply fully with regulatory standards. The regulator also stressed the role of strong internal controls, accurate client information, fair conduct, and proper product distribution in protecting investors. CySEC added that, during the period under review, the company did not adequately protect client interests, which weighed into the final decision.

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