The current police as shown on their website runs from 14th June 2017 to 14th June 2018 and is provided by QBE Underwriting Limited and participating syndicates at Lloyd’s of London.
This basically means that if you account is above the £50k threshold protected by the FSCS you stand a good chance of getting your money back through this insurance policy if ayondo goes bust.
However calling it investing may be a bit of a stretch because if you automatically copy an amateur and unregulated (essentially) fund manager it’s far more risky than investing in a properly regulated fund through a stock broker like Hargreaves Lansdown.
ayondo, are also sticking to their guns and still offering client deposit bonuses up to 25% despite the FCA’s warning that they now frown upon them and will likely ban them at some point in the future.
Ayondo, is HQ’d in Germany so perhaps aren’t as worried about it as much as the UK based brokers who has all completely shied away from it. There is also talk of them swerving the UK markets and listing in Singapore instead.
PLUS 500 who are HQ’d in Israel (despite having a UK listing on the LSE) are still offering their £20 no deposit bonus.
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.