Financial technology group ayondo has launched a new mobile app targeting investors who want to experiment and learn in a simulated trading environment.
Created by the group's Mobile Lab in Singapore, the ayondo academy mobile app allows users to trade virtual stocks, participate in trading competitions and learn about the latest news and tips.
The app draws real-time data from 35 stock exchanges, 45,186 global securities, 14 currency pairs, 10 index and 2,030 CFDs. Users start with $100,000 in virtual capital and can make trades to create their own virtual portfolio.
The app also features a leaderboard that identifies the most successful traders (known as "Heroes‟) by their returns - ranked by territory, monthly or quarterly returns, as well as overall returns.
By watching the top traders and viewing what they are trading in real time, participants can leverage what they learn from these experts and apply it to their own investment portfolio.
Users can also compete with other traders under the virtual trading competition component in the app to win prizes.
Commenting on the app, Raza Perez Head of Product at ayondo group, said: "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."
The launch of the new app is part of the ayondo group's strategy for expansion and brand awareness by growing the existing business with new developments in mobile technology.
The first country to launch the app is Spain. A further expansion into other markets is planned in the near future.
The app is currently available on the Apple iTunes App Store, while an Android version is soon to come.
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