Any feedback on Ayondo spread betting social platform?

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  • coyrls
    coyrls Posts: 2,432 Forumite
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    Zoea wrote: »
    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. *"

    OK, I've checked it myself and it's not true.
  • Zoea
    Zoea Posts: 38 Forumite
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    Ok. Thanks. I'll look again.
    I haven't invested yet.
    I hadn't made up my mind before this post (really!).
    I'll look again tonight and tomorrow and take a day to see what the deal really is.
    I am not prepared to write this one off. It's got too much potential.
  • Zoea
    Zoea Posts: 38 Forumite
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    coyrls wrote: »
    OK, I've checked it myself and it's not true.

    I'm going to take some time to show my quick bit of research to back up the initial impression I was trying to give in the previous quote. I hope no-one takes offence. I understand this is not the kind of thing most veteran experienced posters would suggest, endorse or partake in. Just humour this post :)

    This is as much for me as for the sake of posting for yourselve.

    EdleMetalle
    Winning trades
    92.56%
    Winning months
    72.00%

    Smartietrader
    Winning trades
    90.03%
    Winning months
    65.22%

    barbara [WARNING: Newbie!]
    Winning trades
    93.86%
    Winning months
    88.89%

    Positiv
    Winning trades
    98.10%
    Winning months
    81.82%

    Janhe
    Winning trades
    97.85%
    Winning months
    78.26%

    Ok so my quote looks exuberant now, but I think it's safe to say it's in the ballpark? At least with the best traders?

    Also I would like to just point out that the sort for following traders on wetrade.ayondo.com seems to be broken now. It was working before maintenance today.
    Ok take care :):T:T
  • Browntoa
    Browntoa Posts: 49,302 Forumite
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    I wondering what spread betting has to do with Savings and investment

    It's gambling
    Ex forum ambassador

    Long term forum member
  • Malthusian
    Malthusian Posts: 10,944 Forumite
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    Zoea wrote: »
    I'm going to take some time to show my quick bit of research to back up the initial impression I was trying to give in the previous quote.

    All past performance. All irrelevant. In the future, any investor who copies their trades can expect to lose money.

    If I get a thousand rats and put a button in their cages wired up to a stockmarket ticker, and buy or sell the share on display when the rat pushes the button, then at the end of the month some of the rats will have made a profit, some broken even and some made a loss. I can take the 1,000 share portfolios randomly selected by these rats and rank them in order of how many of their trades made a profit.

    What you are saying is that you are going to invest to your money with my top 5 rats because clearly they're geniuses at share trading.

    The reality is that next month the top 5 rats will be less lucky. Maybe they will do well again, maybe they will only break even or maybe they will make a loss. It is random, and due to the cost of trading, on average you will lose money.

    However, at the end of the month I will rank all the rats' portfolios again and advertise the terrific results achieved by the new top 5, and there will be more suckers along who will invest their money with the top 5 rats, not knowing that over half the people who did that last month lost money. Rinse and repeat.
  • jimjames
    jimjames Posts: 17,625 Forumite
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    Zoea wrote: »

    Ok so my quote looks exuberant now, but I think it's safe to say it's in the ballpark? At least with the best traders?

    How do you know if any of those numbers are true? I could say I've made 100% return on my portfolio this year and you'll have no idea if I'm right or not.

    How is best defined? Their house trader who rakes all the profit?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Ader1
    Ader1 Posts: 420 Forumite
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    I believe some people make money spread betting but it's the minority. Short term trading is a zero sum game. For every win there's an equal amount lost. That doesn't mean that for every winner there is a loser. More like thousands of little fish get taken to the cleaners by the big fish. If you're interested in Spread Betting have a look at the books by Naked Trader.
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    edited 1 January 2018 at 7:54PM
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    Dear Zoea,

    Please do yourself a favour and don't give any money to these people. It isn't a scam, but it is an outrageously risky "investment". You would be just as well served to go down to the bookies and place a few bets on long odds, or go the casino and risk everything on black at the roulette table. This is not an investment it is a complete gamble.

    I see from other threads that you have started that you show a lot of interest in "get rich quick" opportunities. I'm sorry to say that they don't work out for the overwhelming majority. The best you can do is hope to grow your wealth gradually through investing money in a well-diversified portfolio with limited costs over a lengthy time period. There are a number of people on this forum who will give you great advice on how to start that journey.

    Please don't throw your money away.
  • k6chris
    k6chris Posts: 738 Forumite
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    Ader1 wrote: »
    Short term trading is a zero sum game. .


    ...it's worse than that, it's a negative sum game, because every trade / spread bet incurs a cost, from your account to the broker, either as a transaction fee, or via the bid-ask spread. If you get particularly bored you can read more about some research into this;

    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2711214
    "For every complicated problem, there is always a simple, wrong answer"
  • daryah
    daryah Posts: 7 Forumite
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    I've taken "a punt" on Ayondo a couple weeks ago and will test drive it for a year or so. The minimum amount you need to put into "play" is £2000, and I've put in a bit more to make it more interesting.

    Is it truly gambling and risky as the lotto or horses? maybe, but it does have a greater lure of something more certain for right or wrong..

    There is a negative review of Ayondo on Google Maps from someone who claims to have made very significant losses, which I queried with my account manager. He responded as a salesman probably would, so no way of knowing actual facts.

    In any case, it is important to manage the risk based on whats stated on "the tin". The tin states that no one can ever lose more then what they have put in. That is important cause as it is a leveraged amount, it is conceivable to actually lose way more then the deposit.. Furthermore, you can also set a stop loss on any figure higher then 5%. In reality you have to understand the idea of drawdown, volatility, risk score and multipliers to tone the risk levels to a point where risk/return is palatable.

    if it works out then I have made tax-free returns and have a story to tell. based on first hand info..

    if it does not work then I have "learnt a lesson" and have a story to tell based on first hand info..
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