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Wonderinterest

Cyprus|5-10 years|
Regulated in Cyprus|Straight Through Processing(STP)|Suspicious Scope of Business|High potential risk|

http://www.wonderinterest.com/

Website

Rating Index

Contact

+357 25 056 419
support@wonderinterest.com
http://www.wonderinterest.com/
176, Makariou III Avenue, Paschalis Avenue House, Agia Zoni, Limassol, Cyprus

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+357 25 056 419

English

+420 510 015 304

English

+34 911 985 270

Broker Information

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Company Name

Wonderinterest Trading Ltd

Company Abbreviation

Wonderinterest

Platform registered country and region

Cyprus

Company website
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Warning: Low score, please stay away! 2
Previous Detection : 2024-02-26
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

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Wonderinterest · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation Regulated
Market Instrument CFDs on shares, indices, commodities, forex and physical shares
Account Type Coal, Water, Solar, Nuclear and Fusion
Demo Account yes
Maximum Leverage 1:30
Spread (EUR/USD) 3.3 pips on Coal account
Commission Vary on the asset type
Trading Platform MT5 & Mobile App
Minimum Deposit $20,000
Deposit & Withdrawal Method credit/debit cards and wire transfers

Wonderinterest, a trading name of Wonderinterest Trading Ltd, is allegedly a forex and CFD broker registered in Cyprus that claims to provide its clients with various tradable financial instruments with leverage up to 1:30 and floating spreads on the MT5 and Mobile App trading platform via five different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that Wonderinterest is currently regulated by Cyprus Securities and Exchange Commission (CYSEC). That is why its regulatory status on WikiFX is listed as “Regulated” and receives a relatively low score of 2.60/10. Please be aware of the risk.

General Information & Regulation
General Information & Regulation

Market Instruments

Wonderinterest advertises that it offers access to 1,000+ trading instruments in financial markets, including CFDs on shares, indices, commodities, forex and physical shares.

Account Types

Apart from demo accounts, Wonderinterest claims to offer five types of trading accounts, namely Coal, Water, Solar, Nuclear and Fusion, with minimum initial deposit requirements of $20,000, $50,000, $100,000, $200,000 and $500,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Account Types

Leverage

The maximum leverage at Wonderinterest is 1:30 for retail traders. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

As tested on the Coal account, spreads on the EURUSD pair are 3.3 pips. You should know that the industry average is only 1.5 pips. The commission for trading physical shares is 0.75% with a minimum of $20, and the one for trading CFDs on shares is 0.25% with a minimum of $25.

Trading Platform Available

The platform available for trading at Wonderinterest is one of the most notable and preferred trading platforms the market offers - MetaTrader5 and its own-designed Mobile App. The MT5 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Trading Platform Available

Deposit & Withdrawal

Like most brokers, Wonderinterest also accepts deposits and withdrawals via credit/debit cards and bank transfers. The minimum initial deposit requirement is extremely high - $20,000. The broker itself does not charge any deposit or withdrawal fees – but keep in mind that your payment method provider might.

Fees

Another thing that is worth taking into consideration is that Wonderinterest charges inactivity fees, maintenance fees, and special service fees, but they did not specify the size of those.

Customer Support

Wonderinterests customer support can be reached by telephone: +357 25 056 419, email: support@wonderinterest.com or send messages online to get in touch. You can also follow this broker on social networks such as Facebook, Instagram and LinkedIn. Company address: 176, Makariou III Avenue, Paschalis Avenue House, Agia Zoni, Limassol, Cyprus.

Pros & Cons

Pros Cons
• Regulated • Wide spreads and high commission fee
• Multiple trading instruments and account types offered • Extremely high minimum deposit ($20,000)
• Demo accounts available
• MT5 supported

Frequently Asked Questions (FAQs)

Q 1: Is Wonderinterest regulated?
A 1: Yes. Wonderinterest is regulated by Cyprus Securities and Exchange Commission (CYSEC).
Q 2: Does Wonderinterest offer demo accounts?
A 2: Yes.
Q 3: Does Wonderinterest offer the industry-standard MT4 & MT5?
A 3: Yes. Wonderinterest offers the MT5 and Mobile App.
Q 4: What is the minimum deposit for Wonderinterest
A 4: The minimum initial deposit at Wonderinterest to open the most basic account is $20,000.
Q 5: Is Wonderinterest a good broker for beginners?
A 5: No. Wonderinterest is not a good choice for beginners. Although it is regulated, and also, it offers demo accounts on the MT5 platform, the trading condition is uncompetitive and the initial capital is too high for beginners.

User Reviews

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4

Comments

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勇67862
more than one year
It is not recommended for novices to choose this broker for trading. The deposit threshold is too high, and the spreads are also too wide. Newbies should choose a broker that offers a Mini account. After all, investment is very risky, and investing too much at once without any experience is likely to lose everything.
2023-02-20 17:00
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0
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FX1168295528
more than one year
THE BEST, Wonderinterest. Loyalty to the company's features and customer service are the most two important points that a trader would demand. This is the best choice to join trading on MT5.
2022-12-13 16:05
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0
0
天下归一
more than one year
No relevant contents at all, their guys called me crazily to make investments here, but I find out this broker is just a joke, a stupid liar trying to defraud clients…
2022-12-09 14:21
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1
0
天下归一
more than one year
No relevant contents at all, their guys called me crazily to make investments here, but I find out this broker is just a joke, a stupid liar trying to defraud clients…
2022-12-09 14:20
Reply
0
0
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