Any feedback on Ayondo spread betting social platform?

Zoea

Hi everyone

Ayondo advertise on Bloomberg TV and I believe I saw a short segment on them months ago, probably on the BBC or Bloomberg. I won't go into detail but the idea is you choose some traders to follow and then invest and the platform does their trades with your money and you keep the profits. So it's like being a successful trader without actually having to do trading (as far as I can tell).

I am thinking of using this platform. The markets have been good this year but some of the traders have done VERY well, like 140% well. Not all of course. Most are over 60% in the top 20.

Anyone have any lived experience with Ayondo? Their trustpilot doesn't look good. But there's only 2 reviews.

Thanks
N

BananaRepublic

When I see claims of 60% per year the first thought that comes into my mind is scam. The second thought is scam. And the third one. Spot the pattern?

martinthebandit

I wonder why it sounds to good to be true?

Zoea

I have asked on Reddit so if anyone sees this in the future they can find more information there too.

I do not believe it is a scam but it seems a bit shady judging by the trustpilot comments. Please read them.

https://www.reddit.com/r/UKPersonalFinance/comments/7i3kj8/savings_any_feedback_on_ayondo_spread_betting/

Kind regards

IanSt

Zoea wrote: »

I do not believe it is a scam but it seems a bit shady judging by the trustpilot comments. Please read them.

Although in my opinion you can't trust anything that's put on trustpilot, I'd certainly be more inclined to believe the three 1 star reviews that are currently on trustpilot then any marketing story that Ayondo push out.

I certainly wouldn't be putting any of my cash in them.

Malthusian

It's not a scam. If someone says to you "Hi, would you like to give me some money? You might lose all of it or you might get more back" and then you lose all of your money, that's not a scam.

It is however purely gambling and on average you will lose your shirt. If the supposedly successful traders on these platforms had a track record of day-trading shares that was long enough to be actually meaningful, they would be managing hedge funds and earning millions of pounds a year.

Zoea

Malthusian "and on average you will lose your shirt"

hmm ok!
what about this then?

"I understand CFD and spread betting are high risk but the best traders are winning around 85% of their trades and up about 80-90% of months."

coyrls

Zoea wrote: »

Malthusian "and on average you will lose your shirt"

hmm ok!
what about this then?

"I understand CFD and spread betting are high risk but the best traders are winning around 85% of their trades and up about 80-90% of months."

What about it? Putting quotation marks around a statement doesn't make it true.

greenglide

No it doesn't, until you tweet it in capitals.

So the idiot Trump thinks anyway!

Zoea

Ok that's below the belt surely. It's my statement. It's backed by my research. I don't see how you can't just check it yourself.

Anyway I'm decided personally. *"

dunstonh

Anyway I'm decided personally. *"

I suspect you already had before you posted on this site.