Alyaziah Hayat | March 31, 2022
Table of Contents
ayondo is an award-winning social trading platform that offers traders around the globe CFD trading and copy trading solutions via the brokers proprietary trading platform. Despite having a very good copy trading solution, they do not offer the popular MetaTrader platforms and are limited in terms of educational materials and account funding options. They also do not have live chat support and require a minimum of $2,000 to get started.
Broker Pros / Cons
- Regulated brokerage firm
- Award winning social trading platform
- Follow top trader signals
- Provide your own trading signals
- No MetaTrader platforms
- Lack of educational resources & trading tools
- Limited account funding options
- Minimum $2,000 to get started
- No online live chat support
ayondo offer online traders competitive spreads and an intuitive trading platform for trading by themselves and for copying other traders. They have won multiple international awards for their financial services.
Founded in 2008, ayondo specialises in financial trading technologies, covering both retail and institutional sectors, with users from more than 195 different countries. In 2013, ayondo was listed amongst the top 50 financial technology companies in the world, known as the FinTech 50. On 26th March 2018 ayondo Ltd. celebrated its first trading day and achieved becoming the first FinTech company to list on Singapore’s Stock Exchange (SGX).
ayondo aim to revolutionise the retail trading and investment space, always operating with complete integrity and transparency. They aim to empower clients by providing the most intuitive, rewarding and innovative execution of financial products in the marketplace. They state that they attempt to create a level playing field by providing a one-stop offering, the best possible service, and unique tools to help clients become happy and successful investors.
ayondo is a trading name of BUX Financial Services Limited. Trade execution services are provided exclusively by BUX Financial Services Limited. BUX Financial Services Limited is a company registered in England and Wales under register number 03148972.
BUX Financial Services Limited is authorised and regulated by the Financial Conduct Authority, FCA Register number 184333. You can see the trading brokers BUX Markets review for more information.
Social Trading services are provided exclusively by ayondo portfolio management GmbH who is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) with registeration number 145765.
Client funds are insured under the Financial Services Compensation Scheme (FSCS) which provides cover of up to £85,000 per person in the unlikely event that BUX Markets ceases business or defaults.
Client money is held in reputable global banks that are reviewed regularly to ensure that they are in good financial condition. In the event that a UK banks defaults, the FSCS can compensate clients with up to £85,000.
Eligible clients can also get free additional insurance of up to £1,000,000 per client in excess of the standard FSCS cover. Terms and conditions do apply to this and not every client will be eligible.
ayondo state that they use the highest levels of financial services security on all of the brokers software to help try and protect you from attack and fraud. They are constantly reviewing the systems implemented according to financial services industry best practice. They also review systems against both current and projected security threats.
ayondo do not offer services to clients in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. Such residents and countries include, but are not limited to, the United States.
ayondo provide traders with their award winning proprietary TradeHub® platform which combines advanced trading tools and charts along with an intuitive design. TradeHub®’s design lets you focus on your trading and tap into the markets straightaway. Users can access TradeHub® from wherever they are, on PC, tablet or mobile devices running on iOS and Android.
The TradeHub® platform is very user friendly containing a good selection of trading tools for conducting detailed market analysis. It supports multiple chart styles, time frames and order types. You can view real time price quotes from various markets and place trades in just a few clicks.
ayondo are primarily a social trading platform for traders to offer their signals through the TradeHub® and for followers to copy these signals into their accounts.
The trading tools provided by ayondo are built into the TradeHub® platform and these will usually suffice for most retail traders. This includes tools that make it quick and easy to analyse the performance of trading signals that followers can copyfrom the top traders. It would be beneficial if they had some additional standalone tools such as trading calculators to further support traders.
Unfortunately, ayondo do not have a trading academy or any significant educational resources to help beginners learn how to trade. It would have been beneficial if they provided some trading guides, tutorials, videos, webinars and daily market analysis.
ayondo have a generous range of global markets via their user-friendly online dealing platform. The broker offers CFD trading with flexibility and attractive conditions. The trading instruments include FX currencies, indices, shares, ETFs, commodities, Interest rates and bonds.
A contract for difference (CFD), is a derivative financial instrument enabling you to gain exposure to financial markets without physical ownership of the underlying asset. It is an agreement between the trader and broker to exchange the difference in value between the opening and the closing level of a particular contract.
CFDs have no expiry date, meaning that you can decide when you want to close out your position, at which point the difference in value will be exchanged (i.e. profits are paid to you, or losses are deducted from your account).
CFDs can be leveraged so that you only need to deposit a fraction of the total value of your investment in to your account in order to trade and the remaining amount is financed by a broker such as ayondo. It must be stated that leveraged trading comes with significant risks. You should have a clear understanding of what leverage is and all of the risks involved.
With ayondo, you can choose to either be a follower or a trade provider. As a follower, you are able to copy the trading signals of other traders whereas if you are a signal provider, you can offer your trading signals and receive a performance-based fee.
Being a follower with ayondo allows you to invest in the trading strategies of what ayondo call “top traders”. It must be strongly noted that past performance is by no means any guarantee for future results. It works as follows:
Find Top Traders
You can search and select top traders that are ranked by performance or number of followers. The ranking makes it easier for you to choose a top trader depending on your individual preferences. Traders are sorted by performance, number of followers, career and level and type of remuneration model. The trading career can help you to understand their experience, risk management and performance at a glance.
You can see the risk score for an additional understanding of their attitude to risk and explore the detail of their trades: their strategy, the mix of their investments and even the performance of each individual trade that they have made.
Build your portfolio
Users can drag traders into their portfolio to see how a hypothetical investment could have performed over the past months or years. This is based on historical data and thus not a reflection of what future results will be. Trading will always carry an element of risk and there are no guarantees.
You can click and drag up to 5 top traders into your portfolio, add or remove traders whenever you want, adjust the amount of investment following each trader and adjust the loss protection to a suitable level or keep the default setting of 15%.
Copy to your account
Followers can copy traders starting from £2,000 or try a risk-free demo account. You can fund your account or withdraw money by credit and debit card or bank wire transfer. Once you are up and running you can see the trades of each top trader you are following and track performance.
You pay a fee to top traders that you follow. The fees are dependent on the type of remuneration model your top traders have chosen. In the case of following more than one trader, it may be the case that both fee models are also applicable. That means the fee for each individual top trader is calculated separately on your ayondo account.
The ayondo top trader lets you offer your trading for others to follow. There are 5 levels you can work through as a top trader. Each level can increase your share of the rewards from followers as your career progresses. Higher career levels are more attractive to followers, and can be more rewarding for top traders. The ayondo trading career is designed to encourage top traders to have a consistent performance and risk management.
In addition to the career levels, ayondo also give each top trader a risk score from 1 to 10 based on numerous factors, including level of leverage.
If you start with £2,000 you can get a Real Money Trader tag on your profile. The Real Money Trader status attracts more income as it appeals to followers.
Top Traders can choose between two remuneration models: the volume-based and the performance-based compensation model.
Performance-based remuneration model
Top traders receive a percentage proportion of the performance fee, which is only due as soon as the traders achieve an individual high watermark on the follower account through their trades.
Furthermore, traders receive a percentage proportion of the followers’ daily management fee of 1% per year. This model is available for real money traders only and is targeted towards more long-term trading strategies.
Volume-based remuneration model
Top traders receive a percentage proportion of the spread gross income generated by the followers. This model is available for real money and virtual money traders whilst it is targeted towards more short-term trading strategies.
Based in London and Frankfurt, ayondo have an expert team recognised for their friendly, intelligent and fast support. The dedicated customer service team are happy to support you and deal with your enquiries as quickly as possible. The team is available from 8:00 to 17:00 (UK time), Monday to Friday, by phone or email. The trading desk phone lines are open for trading enquiries between 22:15 Sunday and 22:15 Friday (UK time). It would be beneficial if they could add a live online chat option for support as this is often the most convenient method of contact for potential clients.
ayondo have a limited selection of account funding options when compared to most other online brokerages. Clients can make deposits and withdrawals via bank transfer and credit/debit card.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
ayondo strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your ayondo trading account.
Opening an account with ayondo is quick and easy. There is a short online application form to complete on the brokers website. You will need to provide some personal information and documents such as a scan of your passport and utility bill as proof of identify and address. This is a normal part of a brokers KYC procedures.
Your account will be reviewed by a member of the ayondo accounts team. Once it has been approved, you can fund it and commence trading online when you feel ready to do so.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Overall, ayondo has a reasonable online brokerage service that includes a variety of asset classes to trade via a user-friendly trading platform. What makes them stand out from some other trading brokers is that they offer social trading where you can copy or provide trading signals. The copy trading process is smooth and has some useful features to filter traders according to your individual needs. The broker has also won multiple awards for the financial technology that they have implemented within their product range.
However, we believe that they could benefit from adding some additional tools and educational resources in order to support traders with daily trading activities. The account funding options are also very limited compared to other brokers whilst there is no live chat customer support. Furthermore, they do not offer the popular MetaTrader platforms which many online traders have become accustomed to.