Financial technology group ayondo today announced a partnership with KGI Fraser Securities Pte Ltd, a Taiwanese-owned brokerage in Singapore, to launch KGI Contrax, which uses ayondo’s platform TradeHub®.
The platform, under a white-label arrangement, enables investors to buy and sell Contracts for Difference (CFDs).
Edwin Lee, Head of Wealth Management, KGI Fraser said:
“We are excited about the partnership with ayondo, who brings with them extensive expertise as leaders and pioneers in innovative financial technology. CFDs are well known in Singapore and we believe that KGI Contrax may appeal to many investors because of its ease of use and innovative features.”
Robert Lempka, CEO and co-founder of ayondo, said:
“ayondo’s mission is to revolutionise trading and investing for individual investors. We are already a pioneer and leader in our core markets in Europe and we want to expand into Asia, and in particular in Singapore where you have very tech-savvy people who may be looking for a faster and more transparent way of executing their trades.”
In addition to the launch of KGI Contrax, ayondo is introducing the concept of social trading to investors in Asia. Social trading is one of the latest growth industries that tap innovative technology to change the way trading and investment services are traditionally provided. This modern way to invest allows retail investors to copy the trading strategies of successful experts at the click of a mouse or a few touches on their mobile devices.
Those who do not have sufficient time or expertise to trade on their own can automatically copy the performance of the “Leading Traders”, who share their trading strategy on ayondo and can generate additional revenues from their trading skills.
ayondo ranks traders over five different career stages, from Street Trader up to Insitutional Trader, based on their risk and return profiles. Better risk management and performance will get the trader to the next ayondo career levels.
ayondo social trading services are provided by Frankfurt based ayondo GmbH, a tied agent of DonauCapital Wertpapier AG and therefore registered in the intermediaries register of the BaFin, the German Federal Financial Supervisory Authority.
With ayondo, Singapore’s remisiers can digitalise their role and keep pace with changes in the industry.
Mr Lempka explained: “There have been a lot of discussions about online trading threatening the livelihood of remisiers. We see social trading as a possible way in which remisiers can have a profitable future by signing up to become Leading Traders and even increasing the number of clients or followers they have.
“ayondo is very well positioned with its business model and scalable solutions. The group already covers a broad spectrum of services in the Finance 2.0 field covering both retail and institutional sectors.”
At present, investors who wish to use ayondo’s social trading platform will have to open an account with its London office.
This latest move to Asia for ayondo comes just over a year after Singapore-based Private Equity Fund Luminor Capital became a significant stakeholder in the FinTech group. ayondo Asia Pte Ltd opened its Singapore office in July 2014.