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Bux

BUX is a European tech company that was established in early 1991. It is regulated by the Financial Conduct Authority (FCA) and the Dutch Authority for the Financial Markets (AFM). It is also listed on the Budapest Stock Exchange (HSE).

Buxapp is recommended for traders that enjoy the speed and versatility of trading on mobile devices. Users that are also looking to have a safe and fun experience of what trading feels like will appreciate its free demo version.

Pros:

Demo account for new users
Low Trading fees
App trading interface is straightforward and user-friendly
Very secure

Cons:

Only provides services for mobile trading platform
You don’t trade in actual stocks
It lacks sophisticated research tools for professional trading

2021 Ratings

4.5/5

4.5 out of 5

Trading fees and Costs

BUX Markets have a normal trading account for retail traders and a pro trading account for those who qualify as professional traders. Professional clients are not subject to some of the product intervention measures by ESMA. The broker can also provide demo trading accounts which allow you to practice trading online with virtual funds so that you can familiarise yourself with the trading platform and brokers service whilst testing out your trading strategies.

BUX Markets are constantly striving to keep the total costs, including spreads, rollover costs and financing costs, as low as possible. They are committed to transparency with all of their costs.

There is a charge for overnight funding, normally at the rate of 2.5% p.a. plus relevant interbank rate. Positions that are open overnight are subject to funding charges on a daily basis. Positions held on a Friday will attract a 3-day financing charge/credit for the weekend.

Long positions attract financing charges, but for short positions, financial interest may be credited to your account. In the event that your trading account is inactive, you will be charged with an Inactivity Fee after 180 days.

As broker fees can vary and change, there may be additional fees that are not listed in this BUX Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a BUX Markets broker account for online trading.

Trading platforms

Bux does not have provisions for desktop web trading platforms. The mobile-based platform is the only available option for trading.

Bux offers its customers a stable mobile trading platform that is efficient and user-friendly. Users can either opt for the Android version or the iOS option. And a newbie should be able to navigate the platform in just a few short minutes.

Bux is solely designed for mobile trading, and the design reflects the seamless execution that users associate with mobile devices.

Interestingly, account verification is performed through the mobile app and only requires you to scan your ID with the phone’s camera. The platform also features a Social side that allows you to chat and follow other professional traders. You can also copy trades by simply following the examples of your favorite traders.

Look and Feel

The Bux mobile trading platform is state-of-the-art and very user-friendly. You can master the platform in just a few minutes and begin trading seamlessly.

Login and Security

You can log into the platform by using your password with linked email. After a successful login, you can easily access the app from your mobile device at any time with no delays. You are also prompted to set up a pin code for accessing the in-app functions.

Search Functions

The Search functions of Bux’s mobile platform are decent enough with the appropriate filters applied.

Placing Orders

Bux makes use of a unique system for trade orders its clients can make. Bux users can trade with a Multiplier that effectively multiplies the profits/losses associated with such trade. Users will find the Multiplier system because; while your earnings are multiplied by the value of your multiplier, your losses will never exceed the amount you invested.

Suppose you place an order of £100 and apply a multiplier of 3. This means that the multiplier value influences your profits/losses. In this scenario, Bux has set it up so that while you stand a chance to make £300 in profits, your losses will NEVER be more than the £100 invested initially. This is called “guaranteed Stop-Loss.”

Alerts and Notifications

The Bux app has the standard alerts and notification functions that you would expect of a high-end mobile platform.

Safety

Bux is a UK-based broker that is regulated by several top-tier financial regulators like the FCA and HSE. It is also listed on the Stock Exchange. Bux customers enjoy a high investor protection amount of €100,000. They also offer users of their trading platform, negative balance protection.

If you’re wondering, is BUX safe? We advise that you evaluate two key factors: what is the broker’s background; and how you are protected if something goes wrong.

Background

Bux is a UK-based trading company that was founded in 1991. Owned by “Ayondo Markets Limited,” it has a stable banking background, and it is regulated by financial authorities like the FCA and AFM. It also publishes its financial statements regularly.

Protection

You must pay close attention to the investor protection amount that your broker can provide. The regulator is an equally important factor that must be considered when selecting your desired broker. The investor protection amount and corresponding regulator differ from one broker to another.

Bux is controlled by Ayondo Markets Limited and has high client risk coverage. Bux X clients are protected by the British Financial Services Compensation Scheme (FSCS). The FSCS protects investors against the loss of securities and cash if the broker goes bust. Investors are protected by up to £85,000. It is worth noting that this is quite high as far as investor protection goes.