One of the largest CFD brokers has improved its product offering by acquiring a leading trading gamification app. ayondo, the leading social trading developer for the financial services sector, has acquired TradeHero, a Singapore based trading brand.
TradeHero is an app that allows users to experience a virtual stock market and advance their financial literacy. It functions as a gamified virtual investment network where users share real-time insights and trades and compete to win real cash.
TradeHero is similar to the Invstr app which lets users predict the markets and gain insight into live community predictions in a fun, free and safe way.
ayondo – widely regarded as one of the best social trading brokers – have acquired the TradeHero brand outside of China and the United States. It expands the company’s presence in Singapore almost a year after it announced a partnership with KGI Fraser Securties to launch KGI Contax, a platform for investors to trade Contracts for Difference.
Robert Lempka, CEO of the ayondo Group, said: “For ayondo, mobile technology is a big part of the Group’s strategy for expansion and growth. The TradeHero brand is extremely well established in Asia and was the missing piece in our product range.
“Following Top Traders and taking social trading to the next level, in offering fully automated execution is exactly what is in ayondo’s DNA.”
Top CFD broker looking to ‘democratise the world of investing’
The co-founder of TradeHero, Dominic Morris, has become the new Head of Innovation for ayondo Group. He said: “ayondo and TradeHero share the same vision, that is to democratise the world of investing through easy-to-use disruptive technology and knowledge sharing.”
TradeHero’s mobile technology team built the foundation for ayondo’s Singapore Mobile Lab, where the group’s latest research and development takes place.
ayondo could become the first fintech company to be listed in Singapore
The top CFD broker is also engaged in advanced negotiations with a SGX-listed company on a Reverse Takeover transaction. This could result in ayondo being the first fintech company to be listed on the Singapore Exchange and the head office being moved to Asia’s fintech hub.
Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.