The offering comes from ayondo, which has rolled out its ayondo academy app targeting investors who want to experiment and learn in a simulated trading environment. It will be first launched in Spain with other jurisdictions due to follow, said. Meanwhile, the company is working on a reverse takeover deal and aims to be the first fintech firm to be listed on the Singapore Exchange.

Created by the firm’s "mobile lab" in Singapore, the app allows users to trade virtual stocks, participate in trading competitions and receive news and tips.

“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 the firm.

The app is an example of the kind of fintech innovation being pushed by a variety of firms, including banks and wealth managers, as disruptive technologies ripple through the market. For example, OCBC's fintech “accelerator programme” has closed successfully, producing three upcoming pilot tests of three start-ups. One of these will be used by Bank of Singapore, the private banking arm of the parent bank.

Banks such as Deutsche Bank, Bank of China (Hong Kong), Standard Chartered, DBS and Citi have developed “innovation labs” to encourage brainstorming around financial technology, covering areas such as apps, mobile devices, “robo advisors”, use of artificial intelligence, distributed virtual ledgers such as blockchain, and biometrics for account verification. With fintech firms seen as challengers, such “labs” are seen as a way for established players to guard their turf.

Real-time data
The ayondo app draws real-time data from 35 stock exchanges, 45,186 global securities, 14 currency pairs, 10 indices and 2,030 contracts for difference (CFDs). Users start with $100,000 in virtual capital and can make trades to create their own virtual portfolio. The app’s leaderboards identify the most successful traders (known as "heroes") by their returns, and they are 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 use what they learn and apply it to their own investment portfolios. There is also a virtual trading competition component in the app where users can compete with traders to win prizes. The app is available on the Apple iTunes App Store. An Android version is soon to come.

The business is headquartered in Frankfurt, Germany.