FinanceNews Fintech One to Watch: ayondo
The best traders. Now on your account. The idea is temptingly simple: Why should we make trades ourselves if we can get the best day traders on our accounts automatically?
Doing away with fees such as issue surcharges, transaction costs, and management and deposit commission? Build your own portfolio of top traders and change them as often as you like – for free!
The third generation of ayondo brings social trading to a complete new level in terms of usability, social interaction, and guidance of top traders.
Launched in Germany in 2009, Ayondo is currently one of Europe’s fasted growing social trading networks, though their client base seems to expand outside Europe as well. Their aim is to connect investors who want to benefit from the success of other traders with (what they call) their “Top Traders” via an easy to use interface and trading platform. So how does Ayondo fair on this goal?
Firstly it’s worth mentioning that this review is based on the latest Ayondo 3.0 platform and ayondo markets. Reason for this is that ayondo markets is their own broker solution launched in 2013 (well technically it’s a white labelled version of the Gekko Global Markets platform). In the past, when you signed up with ayondo you had to sign up with a separate partner broker. Now however they have their own broker solution making the sign up procedure easier and overall experience more integrated. With regards to the broker spreads, the ones offered on ayondo markets are some of the best you’ll see in the industry and because there’s no commission to pay to 3rd party brokers (like with some of the other social trading networks), that’s also the spread you’ll get charged when you follow and copy other traders.