Spreadbetting account with Ayondo as a pseudo ISA

Delburn

I would be very cautious about placing any money with Ayondo.

Related company is insolvent:
https://www.ayondo.com/en/about/ayondo-gmbhs-status

However, it is all OK because money is placed with BUX Financial Services.
Their latest accounts say:
"The directors... cannot confirm with absolute certainty that there is reasonable evidence that the company has sufficient support and resource...to continue in operational existence for the foreseeable future."

Auditors: "Material uncertainty related to going concern...This has resulted in the Company's Balance Sheet having a net liabilities position of £3,469,989 and has resulted in a shortfall of the regulatory Common Equity Tier 1 capital ratio..."

https://beta.companieshouse.gov.uk/company/03148972/filing-history

Their treatment of client money is rather puzzling because the T&Cs say client money is segregated, but the accounts then include a £28m client funds liability and cash of only £24m.

In 2017 they and their auditors thought computer software was a tangible asset, before the FCA and KPMG put them straight. Somehow the auditors have continued in position for 2018 following this problem.