Soon-to-be SGX-listed social trading platform ayondo has announced the launch of its new mobile app ayondo academy.
The app, created by the group’s Mobile Lab in Singapore, is an investment simulation platform. Users will be able to trade virtual stocks, participate in trading competitions and receive latest investment/finance-related news and tips.
The app will pool data from 35 stock exchanges, 45,186 global securities, 14 currency pairs, 10 index and 2,030 CFDs on the app. Each user will start off with US$100,000 to make trades for their virtual portfolios.
A ranking system is also available on the app. The leaderboards will identify the top traders (or “Heroes” as the app terms it) and rank them based territory, monthly or quarterly returns, as well as overall returns. Users can also participate in trading competitions to win prizes.
The idea behind the app is to help investors experiment with trades in a risk-free environment, as well as pick up tips and tricks from top traders on board, and subsequently apply them to their real investment portfolios.
“The ayondo academy app was built to educate and empower our future clients. It enables them to view the capital markets as a viable investment opportunity that they can confidently partake in while understanding the risks by providing them with a playground that is educational, fun, and free”, said Raza Perez Head of Product at ayondo group, in an official press statement.
The foray into app development is also part of ayondo’s strategy to boost brand awareness and expand its presence. The app will be launched first in Spain. Other markets will follow in the near future. It is only available on the iOS but will soon be released on Android.
Approximately four months ago, the UK and Germany-based fintech company (which also established an office in Singapore in 2014) made headlines when it announced it will exit on SGX via a reverse takeover (RTO) deal — making it the first fintech company to be listed on the local stock exchange.
On June 21st, ayondo announced it had sealed the RTO deal with Singapore-based property developer Starland for S$157.5 million (US$118 million).
In 2013, the company was ranked among the top 50 fintech companies globally.
Image Credit: ayondo