Next Generation Social Trading technology provider ayondo has today announced that in order to further enhance its security initiative, the company has instigated additional customer insurance protection of up to GBP 500,000, putting the security and safety of its client’s assets as a top priority in order to offer its customers maximum comfort so that they can focus on their investments.
“ayondo has always devoted a lot of resources to providing a world-class service and an intuitive trading platform at the lowest possible cost, thereby optimising the customer experience.
By enhancing its client security, ayondo aims to respond to the most pressing customer issues insofar as client money being protected by an additional client money insurance of up to £500,000. Additionally, ayondo has confirmed that there is no negative balance funding obligation”, explains Robert Lempka, CEO of the ayondo group.
Additional customer insurance protection of up to GBP 500,000
ayondo has arranged to provide, at its own cost, all ayondo branded customers extra security of up to GBP 500,000 through additional insurance protection over and above the Financial Services Compensation Scheme (FSCS) of GBP 50,000. This extensive protection applies for all FSCS eligible clients.
This insurance policy is underwritten by QBE Underwriting Limited and other participating syndicates from Lloyd’s of London. Lloyd’s of London is the world’s leading market for specialist insurance. Lloyd’s is not a company, it is a market where the members join together as syndicates to insure risks.
“Through these safety initiatives modern forms of investment such as Social Trading become even more attractive for customers who want to invest large sums. The maximum sum of GBP 500,000 may even be raised individually for customers on request, subject to a nominal fee”, says Sarah Brylewski, responsible for sales and marketing at the ayondo group.
Introduction of insurance follows the removal of negative balance funding obligation
Prior to the introduction of FSCS excess cover, ayondo has removed negative balance funding obligations for all ayondo branded trading accounts. Therefore, ayondo customers have the opportunity to calculate their maximum loss in advance should a market move adversely. The customer must of course be sure to have sufficient funds in their accounts in order to provide adequate collateral, so that positions can be taken and held.
In addition to the above client security enhancements ayondo continues to support its clients with strong risk management controls. ayondo CFD/Spread Betting customers who trade on their own strategies can place guaranteed stops whilst social trading customers benefit from loss protection that applies to the overall portfolio. This increase of security initiative represents significant value to all ayondo social trading customers.