Ayondo Opens an Office in Singapore after Unifying Its Brand

Former spread betting and CFD brokerage, Gekko Global Markets rebranded to ayondo markets Ltd last month. The brand has been unified as the parent company ayondo Holding AG is also behind Frankfurt-based ayondo GmbH which is responsible for the firm's social Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. The company will be operating under the name ayondo Asia PTE Ltd.

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates' reporters have learned that the company is opening an office in Singapore to expand its operations looking for new partnerships in the region. As the firm has a rich CFD product, offering FX, indices, stocks, commodities and bonds and with an already integrated social trading platform, the firm is aiming to pick up market share across Asia by finding new partnerships in both retail and institutional spaces.

Earlier this year, the company obtained financing by Singapore-based private equity fund Luminor Capital totaling CHF 5.5 million ($6.2 million).

Commenting on the announcement, the firm's CEO Robert Lempka, stated, " The financial sector is undergoing a period of change, which is not limited to Europe and the Singapore office will serve as a bridge in order to implement our global vision of offering our services in all major financial markets."

We are seeing a company with a previously localized focus expanding into a new geographical area just a month after the brand was unified under the ayondo name. With the round of new funding obtained by the Holding company in the beginning of the year, the firm is targeting new markets as competition among FCA regulated entities for the European market has become increasingly intense.