Ayondo is a trading name of BUX Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority, FCA Register number 184333. In addition, ayondo portfolio management GmbH is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin Register number 145765. That requires client money to be held in a segregated bank account, only in major banks.
Ayondo focuses its effort mainly on Social Trading. Clients are provided by the company’s own platform called TradeHub. It runs on a web browser and can be downloaded for iOS and Android devices. Unfortunately, the well-known MetaTrader platform is not available for trading here.
The company offers the following asset classes: Indices, Foreign Exchange, Commodities, Stocks, Interest Rates & Bonds, ETFs and Cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Ripple). The average spread for EUR/USD starts at 0.8 pips.
Social Trading allows customers to follow deals of some more experienced investors. Clients only need to choose their favorite investor, ranked by performance or by number of followers. Deals can be copied into the client’s account if there is at least 2.000 US dollars. Be prepared to pay a 25% fee for any successful investor deal. There is also an option for a risk-free demo account. There is an inactivity fee of GBP10 per month if the account is not used for more than 180 days.
On the F.A.Q. section in the website the company claims that the stop loss orders are guaranteed except the ones on stocks. However, ayondo warns that while the market is volatile, it may not be possible to place guaranteed stop losses. The Order execution policy explains that the guaranteed stop loss orders must be placed above the minimum required distance. If they are placed closer to the current market price, they automatically become non-guaranteed. In the Execution of Orders section, it is written that all types of orders may be executed at a much worse price than the proposed execution price. So, you must be prepared for slippage.
The risk disclosure document unveils that BUX Markets does not act as an Agent (Broker), but rather as a counterparty. In other words, the company is a market maker and there is a conflict of interest. However, the company is well regulated by the FCA and it must stick to the rules.
In addition, ayondo has implemented negative balance protection, which means that clients will never lose more money than they have invested. The other positive thing is the availability of a supplementary insurance that covers each customer up to GBP1,000,000 and this service is free of charge.
Payment methods at Ayondo are limited to Bank transfer and Credit or Debit Card. There is a 100 GBP/EUR/USD minimum deposit for Credit Cards but there is no minimum deposit for Bank Wires.
We can conclude that ayondo is a well-regulated market maker that offers CFDs and spread betting for online trading and focuses primarily on social trading. There is no MT4 platform, so if you want to take advantage of the other investor experience and not trade on your own, you can try ayondo.