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Owner of the ForexMart and InstaForex brands fined 130 000 EUR
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Owner of the ForexMart and InstaForex brands fined 130 000 EUR

created Paweł MosionekAugust 2 2018

Instant Trading EU Ltd, the parent company of brands such as ForexMart (forexmart.com), InstaForex (instaforex.eu) and InvestCity (investcity.com), has been fined by the Cyprus Financial Supervisory Commission (CySEC). Grounds? There are at least a few of them.

"Only" EUR 130 fine

The aforementioned Cypriot-licensed investment firm was fined for "failure to act honestly and professionally in the best interests of clients" (fine of EUR 90) and for "failure to obtain from clients the necessary information regarding their knowledge and experience necessary to assess whether a given product or the investment service is suitable for them ”(compensation of EUR 000).

This means that CySEC decided to impose a fine in the total amount of 130 000 euros. It can be said that this is a relatively mild punishment due to the fact that the regulations allow for financial burdens even for the 350 000 EUR. A mild sentence is the result of immediate intervention by Instant Trading in order to improve the mechanisms of protection against the emergence of debit and the exclusion from its offer of all kinds of promotional activities in the form of contests and deposit bonuses.

The brands belonging to Instant Trading EU Ltd are known all over the world. The most famous of them is InstaForex, which is highly recognizable on Asian markets, and at the same time is a sponsor of the British football club Liverpool FC. The company itself is also currently recruiting employees for the newly opened Polish branch of the company.

The official CySEC message

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.
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