Today I continue to delve into the world of social trading networks, with a service built to provide access to some of the top traders in the world, Ayondo. The developers of this service believe that by mixing and matching different traders, and trading styles, that you will be able to create a portfolio that meets your needs and expectations. Traders who get involved with this service, will be able to copy trades from multiple different accounts.
Founded by Thomas Winkler and Robert Lempka, the company has offices in London, Frankfurt, Singapore, Madrid, and Zug. The London offices are located at ayondo markets Limited, 10th Floor, Linen Court,10 East Road, London N1 6AD, United Kingdom. Support can be accessed via email email@example.com or +44 (0)20 3330 0865. The website really comes across as a professional outfit.
After registering with Ayondo, traders can sort through the top traders, build a portfolio which comes with built in historical analysis and then copy these trades to your account. Traders have the option to “Start with as little as £2,000 or try a risk-free demo accounts,” which is a good option for traders that are interested, but not sure how viable an opportunity this is. For my readers, I definitely recommend that you trade on demo first before going live whether that’s with this service or any other Forex trading system available.
There are certainly some aspects of this social trading network provides, that I haven’t seen in other similar services. One of the most advertised elements of their service, is their portfolio builder which lets traders drag-and-drop up to 5 signal providers into their portfolio. In the portfolio, traders can add and remove signal providers whenever they want, and also adjust the specific amount of funds they want attributed to each provider.
There is also a loss protection feature which allows traders to set a specific amount of money they are willing to lose, before the account automatically freezes and stops trading. This is certainly an aspect that other networks should be providing, like CopyFX, Dupli Trade, FX Junction and Collective2.
- Type: Signal Copying
- Price: Performance and Management Fees
- Strategy: Multiple
- Timeframe: All
- Pairs: All
The payment structure for Ayondo trade followers, is much more convoluted than the services I highlighted earlier. There is a performance fee of 25% which is “only do as soon as the traders performance reaches an individual high on the followers account.” I’ll be honest, I really don’t know what this means, and reading through their account fees page makes very little sense to me. The language being utilized is complicated, and not straightforward.
I highly recommend contacting the team for a further explanation as to how these performance fees work, because the last thing you want to do is sign up with the service where you are handing all your money away to the signal providers.
After clicking the find top traders button, you get access to 69 Ayondo signal providers that you can follow. You can sort through the traders by risk score, last open trade, max drawdown, percent increase in value and my personal favorite, followers. I generally appreciated when services like these allow me to sort through the providers based on who has the most followers. This doesn’t do all of the research for me, but it gives me a general idea of who the majority of the community is putting their trust in. This is very important to me, because I prefer systems and trading approaches that are validated by the Forex community.
The most followed top trader shows consistent gains on a monthly basis. In 2016 he earned over 44%, in 2017 over 14%, and 2 months into 2018, 2.5%. These are the type of numbers that will make you jump out of your chair and excitement, but this steady approach is clearly why this trader has the most followers.
There are both positives and negatives to the Ayondo social trading network, but from what I can see so far, the positives outweigh the negatives. There are a few aspects that this network provides, that other networks should work towards. I like the fact that they have built-in loss protection, and that their portfolio builder is very easily managed. I hope that other social trading networks will analyze these tools, and implement them into their own systems.
If you have ever tested this service, I would appreciate it if you leave a review or comment with your experiences and thoughts. Thank you for spending time with us today, and please come back if you have any Forex needs.