The €100,000 penalty against BDSwiss is not a current or pending fine. Cyprus’s securities regulator, CySEC, decided to impose it on June 26, 2023, and announced the decision on July 27, 2023.
The penalty was imposed on BDSwiss Holding Ltd, a Cyprus Investment Firm formerly associated with CySEC licence 199/13. CySEC said the company enabled associated offshore entities to use the Cyprus-regulated firm’s status when attracting CFD clients, while avoiding certain retail-CFD protections.
What CySEC fined BDSwiss for
CySEC’s finding concerned conduct examined during 2021. The regulator said BDSwiss Holding Ltd enabled associated offshore companies to refer to the company’s status as a Cyprus Investment Firm licensed by CySEC when attracting customers for contracts for difference, or CFDs.
According to CySEC, those customers were offered CFD investment services by the offshore entities without two protections that would have applied if the Cyprus-regulated firm had provided the services directly:
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errors#1 Best Overall
- 〖Classic Design, High Quality 〗This tranditional black vintage desk telephone for landline has been popular from 19080s is built by Metal base and ABS materials, with Twice Injected large buttons, makes it well operate in most demanding environment and keeps working for long time in school, home, hotel and popular from 1980s.
- 〖Powerful Features, Easy Installation〗The old school 2500 desk phone works Without External Power, just need plug the telephone line into LINE port. Long handset cord (144 inches) and Long extension line (180 inches) together with Perfect Weight, it can well fit any table. So you can freely make and answer calls in long distance.
- 〖Never Miss Any Call 〗The vintage old analog desk telephone owns comfortable ear cup and red indicator, which will auto flash when there is call, helps you Never Miss Any Important Calls.
- 〖Hearing Aid, Gift for Elder〗The old fashioned corded desk landline telephone enjoys classic design, large buttons and hearing compatible handset, so this basic desk phone is good choice for Elder Persons, who are hard of hearing or not used to operating cell phone. Good gift choice for Elder, Grandparents and Parents.
- 〖Backup Emergency Telephone 〗 This old corded analog phone can work well with different telephone system WITHOUT Adapter. It can be used as Backup Emergency Telephone.
- the applicable initial-margin protection; and
- the required risk warning for retail CFD clients.
CySEC characterized the arrangement as avoiding or circumventing statutory requirements. The regulator did not describe the matter as a simple advertising mistake, nor did its announcement say that all of the offshore entities were unregulated in their home jurisdictions.
The rules cited by the regulator
CySEC identified the legal basis for the administrative fine as:
- Article 42 of Regulation (EU) No. 600/2014, commonly known as MiFIR; and
- paragraph 5 of CySEC Directive DI87-09, which covers restrictions on the marketing, distribution and sale of CFDs to retail clients.
CySEC linked the circumvention finding specifically to paragraph 4(1)(a) of the directive, concerning initial margin, and paragraph 4(1)(e), concerning risk warnings.
What the €100,000 penalty means
The €100,000 was an administrative fine imposed on BDSwiss Holding Ltd. CySEC did not announce it as a criminal penalty against a director, employee, affiliate or introducer.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
It was also not described as compensation for traders. The 2023 announcement does not say that the fine would be distributed to affected clients or that customers were automatically entitled to refunds because of the penalty.
CySEC cautioned that its English press release was informational and did not replace the board’s decision. The regulator said fuller details and justification were available in the Greek-language version of the announcement.
Rank #2
- Ergonomic & Adjustable Design: Fight "text neck" and improve your posture. Designed for comfort, it offers an adjustable height (7.1in-8.5in) (1.4in adjustable range) and angle (5°-85°) Please note: cell phone stand is only 9 inches tall—the length of a standard pencil
- Without blocking subtitles Perfect for office desk Tiktok Face Time Zoom video—this is the ultimate kitchen desk essential for phones! Perfect viewing experience while reducing neck back strain, A must-have for gamers streamers desk, and anyone who values both style and support!
- Sleek & Stable Design fits Otterbox Case: Say goodbye to bent cables, tangles, and tip-overs! LISEN’s stylish adjustable desk phone holder features a built-in charging hole and smart cable management, keeping your phone secure and your workspace clutter-free cool gadgets for men
- ANTI-SLIP DESIGN free hands: The under 10.00 items easy gadgets back and the bottom of this kitchen essentials for women are fully covered by anti-skid silicone, which LISEN stand up desk decor can provide maximum protection device from any scratches and slides
- Your Perfect Viewing Companion:If your product arrives damaged or breaks within 365 days, reach out to LISEN for a quick and hassle-free solution. Struggling with assembly, like tightening the screw? We’ve got your back! Your experience matters to us. (Product including: phone Holder stand*1, screw*1, hexagon screwdriver*1, specification*1)
The company’s later name and licence status
BDSwiss Holding Ltd later operated under the name Viverno Markets Ltd. CySEC’s records list the entity’s previous names as:
| Entity name | Relevant status |
|---|---|
| BDSwiss Holding Ltd | Entity fined €100,000 in 2023 |
| Keplero Holdings Ltd | Former name listed by CySEC |
| Bdswiss Holding Plc | Former name listed by CySEC |
| Viverno Markets Ltd | Later operating name; licence withdrawn in 2025 |
CySEC decided on March 17, 2025, and announced on May 9, 2025, that it had withdrawn Viverno Markets Ltd’s Cyprus Investment Firm authorization. The regulator said the company had not provided investment services or carried out investment activity during the six months before its licence was suspended on October 24, 2024. CySEC stated that the inactivity had existed from January 1, 2024.
CySEC’s current former-firm listing marks licence 199/13 as withdrawn. This means articles or broker pages that still present BDSwiss or Viverno Markets as holding that CySEC licence are out of date.
What the 2025 withdrawal required
The licence-withdrawal decision is separate from the €100,000 fine. Among other requirements, CySEC said the company had to:
- notify clients about the withdrawal;
- return client funds and financial instruments, including profits;
- deal with outstanding complaints;
- stop providing investment and ancillary services; and
- keep offices available to handle those matters.
These client-fund and complaint-handling requirements arose from the later licence-withdrawal decision. They were not announced as part of the 2023 €100,000 administrative fine.
Investor Compensation Fund position
CySEC announced on September 4, 2025, that Viverno Markets’ membership in Cyprus’s Investors Compensation Fund had been withdrawn following the withdrawal of its CIF authorization.
Rank #3
- The 2602 supports 2 lines of service, making it a great phone for small businesses and start-ups. With the 2.2” display and functional buttons, you can see who is free to take a call or if you should send it to voicemail.
- This phone only works with the award-winning Ooma Office phone service. Plans start at $19.95/user/month and include 50+ features. Upgrade to get features like Videoconferencing, Call Recording, CRM Integration and more.
- If your work environment gets loud at times, you’ll appreciate this phone’s noise shield technology to reduce background sounds. That, coupled with Ooma’s VoIP technology, will make sure your calls are crystal-clear.
- Work from anywhere using the Ooma Office desktop and free mobile app. Make and take calls from your business number on the go, send messages and more.
- With Ooma Office, you can select a new phone business number or keep an existing one. Give your business a nationwide presence with a toll-free number—it’s free and includes 500 minutes of inbound calls each month.
That announcement included an important qualification: losing ICF membership does not automatically remove covered clients’ rights to compensation for investment operations carried out before membership ended, provided the legal conditions for compensation are met.
Conversely, the withdrawal of membership does not mean every client is automatically entitled to compensation. Eligibility depends on the relevant facts and the conditions of the compensation scheme.
Earlier BDSwiss regulatory actions
The 2023 fine is easy to confuse with earlier actions involving similarly named BDSwiss entities.
€150,000 settlement in 2017
On January 23, 2017, CySEC announced a €150,000 settlement with Bdswiss Holding Plc. The investigation concerned suspected or possible breaches of investment-services legislation, authorization conditions and conduct-of-business obligations. CySEC said the company had paid the settlement.
Quick wins for a faster PC:
Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →A settlement is not the same type of proceeding as the 2023 administrative fine. The 2017 announcement referred to possible violations resolved through CySEC’s statutory settlement powers.
€5,000 fine in 2016
On March 16, 2016, CySEC announced a total €5,000 administrative fine against BDSwiss Holding Ltd concerning conduct reviewed in 2014:
Rank #4
- Easy to set up - Connect the phone to your RJ11 telephone jack by the phone line included in the parcel, no need extra batteries or accessories to start working.
- Caller ID Display - the LCD Phone screen displays the number, real time and date. 50 groups of incoming calls memory; 16 groups of outgoing calls memory;
- Functional and Practical: This corded phone includes caller ID display, phone number record, Hold and redial functions. It is a traditional simple functional basic landline for home or office daily use.
- Clear Voice: The call quality is stable and clear, very practical for home or office use.
- Battery Free: this basic desk phone is landline powered and works without batteries. No worry about constant power off.
| Amount | Issue cited |
|---|---|
| €2,500 | Authorization and operating conditions, including systems, resources and procedures |
| €2,500 | The obligation to act fairly, honestly and professionally in clients’ best interests |
Do not merge the CySEC case with the UK FCA action
The 2023 CySEC case was separate from action taken by the UK Financial Conduct Authority in 2021.
On July 27, 2021, the FCA issued a revised first supervisory notice concerning BDSwiss Holding Plc, reference number 607761. The notice prohibited the firm from conducting regulated activities for UK residents, subject to limited wind-down exceptions, and prohibited marketing regulated financial services to UK residents.
Free tools Windows power users keep installed
One-click scans. No signup required.
The FCA notice referred to BDSwiss, Swiss Markets and BDS Trading group brands, as well as overseas entities including BDS Markets in Mauritius and BDS Ltd in Seychelles. It stated that those overseas firms did not have permission to conduct regulated activities in the UK.
That UK notice should not be treated as evidence that the €100,000 CySEC penalty was imposed for UK conduct. CySEC identified a different basis: the 2021 arrangement involving CFD clients, initial-margin protection and risk warnings under MiFIR and Directive DI87-09.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What clients should check
Anyone researching an old BDSwiss account should verify the legal entity named in the account agreement, trade confirmations and payment records. Brand names alone may not identify the company that provided the service.
- Check the entity name and licence number in your account documents.
- Compare that information with the current CySEC register and former-firm listings.
- Keep statements, deposit records, withdrawal requests and complaint correspondence.
- Do not assume that the 2023 fine creates an automatic refund claim.
- For a compensation question, check the applicable Investors Compensation Fund rules and any official instructions from CySEC.
Use CySEC’s official records rather than broker-review pages that may show the former licence as active. The regulator’s records identify the €100,000 measure as an administrative fine decided in 2023, the later licence withdrawal in 2025 and the subsequent withdrawal of ICF membership.
The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Best Value
- Custom Logo Printing for Corporate Branding & Events-Supports both single-color screen printing and full-color UV printing, allowing flexible branding options for different business needs. Ideal for trade shows, corporate events, employee onboarding kits, client appreciation gifts, and promotional campaigns.
- Bulk Custom Orders for Business & Promotional Use-Available in 50-pack bulk quantity for efficient corporate procurement. Perfect for office desk setups, trade show giveaways, employee incentive programs, and business marketing promotions requiring consistent branded products.
- Wide Device Compatibility for Phones & Tablets-Supports smartphones and tablets up to 12.9 inches, including iPad and large-screen devices. Stable dual-arm structure ensures secure placement in both portrait and landscape viewing modes for daily office and personal use.
- Adjustable Height & Multi-Angle Viewing Design-Features metal telescopic rod and dual-hinge structure for flexible height adjustment and 360° viewing angles. Easily adapts to different desk heights and usage scenarios such as video calls, meetings, streaming, and reading.
- Foldable Design with Anti-Slip Protection-Fully foldable structure for easy storage and portability. Equipped with full silicone padding on base and support areas to prevent slipping, wobbling, and scratches while ensuring stable desk performance in office or travel environments.
FAQ
Was BDSwiss fined €100,000 in 2026?
No. CySEC decided to impose the €100,000 administrative fine on June 26, 2023, and announced it on July 27, 2023.
Why did CySEC fine BDSwiss?
CySEC said BDSwiss Holding Ltd enabled associated offshore companies to use the Cyprus-regulated firm’s status to attract CFD clients while avoiding requirements concerning initial-margin protection and mandatory risk warnings.
Was the €100,000 a settlement?
No. CySEC’s 2023 record identifies it as an administrative fine. A separate €150,000 settlement involving Bdswiss Holding Plc was announced in 2017.
Does the fine mean BDSwiss clients automatically receive refunds?
No. CySEC’s 2023 announcement did not order automatic refunds or describe the fine as compensation. Client-fund return obligations appeared in the later 2025 licence-withdrawal decision concerning Viverno Markets Ltd.
Does BDSwiss still have CySEC licence 199/13?
No. The licence was associated with Viverno Markets Ltd, the later name of the entity, and CySEC withdrew the authorization in 2025.
Does losing Investors Compensation Fund membership automatically end client rights?
No. CySEC said that losing membership does not automatically remove covered clients’ rights for qualifying investment operations carried out before membership ended. It also does not guarantee compensation to every client.
The Bottom Line
Bottom line: CySEC imposed a €100,000 administrative fine on BDSwiss Holding Ltd in 2023, not 2026. The case concerned the use of associated offshore entities to attract CFD clients while avoiding initial-margin and risk-warning requirements. It was not announced as a criminal penalty, a settlement or an automatic compensation scheme. The entity later became Viverno Markets Ltd, whose CySEC authorization was withdrawn in 2025 and whose licence 199/13 is now listed as withdrawn.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
