BUX

4.5
Bux is a major UK-based discount broker and is regulated by top financial authorities. It is ideal for investors that enjoy low-cost trading and professionals who appreciate a fully functioning mobile trading platform.
Trading Platform:
BuxApp
Max Leverage:
1:30
Instruments:
Stock, ETF, Forex, CFDs, Options, Futures
Regulation:
FCA, HSE
Min. deposit:
€50
Open an account Read full review

Summary

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).

The BUX was launched in 2014 and has since garnered over 2 million users. It provides mobile trading services to clients in 9 European countries, and it offers a secure platform for new traders to learn the ropes. Users can opt for the demo account — where you trade with play-money (FunBux) — that has no risks. Or upgrade to trading with real money for more rewards and inherently more risks.

For prospective clients who are wondering, is BUX safe? You might be glad to know that BUX has a long history of outstanding client service and well-established banking background. Owned by Ayondo Markets Limited, it is listed on a stock exchange, and it has the FCA as its primary regulatory body. Additionally, it is also regulated by the AFM and HSE respectively and features a high investor protection amount.

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

Overall

Pros
  • Demo account for new users
  • Low Trading fees
  • Diverse CFD product portfolio
  • 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

Fees

Pros
  • Detailed and transparent fee structure
  • Relatively low trading fees
  • Free demo account for all new users
  • Does not charge any non-trading fees
  • Withdrawals and Deposits are also free
Cons
  • They charge inactivity fees

Account Opening

Pros
  • Fully digital experience
  • Speedy and user-friendly process
  • Low minimum deposit amount
Cons
  • There is no apparent problem with the whole process of opening a Bux account

Deposit & Withdrawal

Pros
  • User-friendly process
  • Zero charges for deposits and withdrawals
  • Multiple base currencies supported
Cons
  • Bank wire transactions can be slow

Mobile Platform

Pros
  • User-friendly interface
  • Simple design
Cons
  • Inadequate research functions

Markets

Pros
  • Stock
  • ETFs
  • Options
  • Cryptos
  • Futures
  • CFD
Cons
  • Bonds
  • Funds

Research

Pros
  • User-friendly design
  • Excellent chat system
Cons
  • No sophisticated research tools
  • No third-party recommendations
  • No charting available

Customer Service

Pros
  • Efficient service with relevant answers
  • Fast response time
  • Live chat available
Cons
  • Email ticketing is outdated

Education

Pros
  • Demo account
Cons
  • No sophisticated education tools

Regulation & Safety

Pros
  • Top-tier financial authorities regulate it
  • It is listed on the stock exchange
  • There is negative balance protection
Cons
  • None

Full Review

Bux is a major UK-based discount broker and is regulated by top financial authorities. It is ideal for investors that enjoy low-cost trading and professionals who appreciate a fully functioning mobile trading platform.

It charges low trading fees, delivers a wide range of products, and provides clients with an impressive array of CFD options.

Credit cards and bank wires are accepted for making deposits and withdrawals. The account opening process is fast and seamless, and its overall design is very user-friendly.

Fees

Bux uses a comprehensive system that charges specific percentages as the Trade fee from the total Trade Size. They also employ a Multiplier function that lets you perform larger trades with smaller amounts. Bux does not charge clients any non-trading fees; rather, they gift all new users a Demo Account with free “practice money” for learning the basics of trading.

Let’s first go through the fess terminology:

Trading Fees occur when you trade (spreads, commissions)
Financing or overnight rates are charged when you hold your leveraged positions for more than 24 hours. Leveraged position means that you borrow money from the broker to trade.
Non-trading fees are withdrawal fee or inactivity fee, hidden fees.

We have been able to rank Bux by comparing it to our list of reviewed brokers. To put this review in a proper perspective, we will go over some necessary details about broker fees. The key points to pay attention to are Trading fees, financing rates, and non-trading fees.

We also made direct comparisons of Bux fees to that of two similar brokers: Interactive Brokers and DEGIRO. These two brokers were also evaluated on factors such as product/service offered, fee structure, client profile, etc. 

Non-trading fees

BUX Interactive Brokers Degiro
Account fee No No No
Inactivity fee No Yes No
Withdrawal fee $0 $0 $0

These usually comprise of things such as inactivity and withdrawal fees.

Bux does not yet charge its customers inactivity fees. Withdrawals and deposits charges, however, are free.

Trading Fees

They are usually charged when you make a trade. It can be in the form of commissions or spreads.

We made comparisons using the respective fees for basic trades and found that Bux has low trading fees when compared to similar brokers. They offer all new users a free demo account with a sizable amount of play-money (FunBux) to practice with.

We deemed the entire fee structure to be transparent and straightforward to understand. Customers can choose to only trade with FunBux (the platform’s currency) or upgrade to real money trading, with real stakes.

Stock Fees

Like we covered earlier, Bux operates a system that makes trading very easy for new users and also protects against crippling trading costs. Because Bux users trade in CFDs – which are only derivatives of a real stock – they are trading exclusively on the difference between the entry/exit prices of every contract made.

Bux uses a trading style that only charges users for Financing fees when they use a Multiplier. This is good news for users because the multipliers enable traders to make larger leverages, for smaller amounts of money. While the risk of losing money to bad trades is ever-present, a Bux user never loses more money than they put in the deal initially.

Stock fees of a $2,000 trade

BUX Interactive Brokers Degiro
USA $0.04 $1.0 $0.6
UK $0.04 $8.7 $2.4

Bux uses the table below to calculate trading fees for their CFD Stock options

Stocks (excl. Italian stocks)

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 5,000 0.15%
More than €5,000* 0.12%

 Italian stocks

Minimum Fee €0.80
Total Trade Size Trade Fee
€0 — 2,500 0.20%
€2,500 — 5,000 0.18%
More than €5,000* 0.16%

 *For CFD Stocks there is currently a maximum Trade Size of €10,000

Futures Fees

Bux charges very low fees for clients trading in Futures.

Stock index futures fee of 10 contracts
Bux Saxo Bank DEGIRO
USA $2.5 $60.0 $6.5
UK $2.5 $72.5 $30.2
Germany $2.5 $68.4 $10.3

Indices Fees

Bux allows its users to trade on a range of CFD Indices. Specific options are only available to China and Singapore, while the rest is open to all users. It calculates fees based on the forms below.

Indices (excl. China A50 & Singapore)

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 5,000 0.06%
€5,000 — 25,000 0.05%
€25,000 — 75,000 0.04%
€75,000 + 0.03%

 Indices China A50 and Singapore

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 5,000 0.12%
€5,000 + 0.10%

 US Volatility Index

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 50,000 0.6%

 *For this product there is currently a maximum Trade Size of €50,000

Currencies & Commodities Fees

Prime users of Bux can trade in a variety of CFD Commodities and Currencies that the platform has to offer. The charges for these trades are these

Currencies (excluding cryptocurrencies)

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 5,000 0.05%
€5,000 — 25,0000 0.04%
€25,000 — 75,000 0.03%
€75,000+ 0.02%

 Commodities

Minimum Fee €0.25
Total Trade Size Trade Fee
€0 — 5,000 0.10%
More than €5,000 0.08%

Crypto Fees

Bux charges clients the following for trading in their range of CFD Cryptocurrencies on offer.

Cryptocurrencies

Minimum Fee €0.25
Product Trade Fee
Bitcoin 0.55%
Ethereum 0.70%
Litecoin 1.50%
Bitcoin Cash 1.00%
Ripple 1.40%
Total Trade Size: €0 – 5,000**

 **For all CFD cryptocurrencies there is currently a maximum Trade Size of €5,000

If you need accurate information on Crypto Trading with some professional recommendations, check this Expert’s Guide to Trading Crypto.

Finance Rates

These are charges that are made when you hold a leverage position for more than 24 hours. A leverage position/trade means that you borrowed trading money from a broker.

Bux has really low Financing rates across the board. When compared to other competitor brokers, it charges the least fees from trades made by its customers.

Bux yearly financing rates.
Bux Saxo Bank DEGIRO
Apple financing rate 2.7% 7.1% 4.3%
Vodafone financing rate 2.7% 5.3% 2.5%
EURUSD financing rate 2.7% 15.5%
EURGBP financing rate 2.7% 6.7%

Account Opening

Bux has a fully-digitized account opening process that is fast, smooth, and quite user-friendly. Users can open an account with zero cash and later upgrade to trading with real money. This means that you have complete freedom over how much you’d like to invest.

Can You Open an Account?

Bux is open to all users with a mobile phone, and the desire to trade in CFD options. All accounts are automatically gifted a sizeable amount of FunBux after signup. Users can then play-trade with these FunBuxs while getting the hang of the trading on the platform. Residents of the US are the only ones exempt from trading on the Bux platform.

What Is The Minimum Deposit at Bux?

Bux operates minimum deposits for users that have upgraded to trading with real money. The minimum deposit amount is £50.

Account Types

Bux has two main account types: the Bux-Zero and the Bux-X accounts for users. This system allows users to signup with no money and still trade with the platform’s currency (FunBux) without the risk of losing your money. When you eventually decide to play for real stakes, Bux has a system in place to help make sure you never lose more money than you invested in a trade.

 How to Open Your Account

Getting a Bux account is as simple as downloading the BuxZero app and signing up with your details. You will be required to scan your ID with your phone, and you get verified shortly after. That’s all it takes to have an account with Bux. They have succeeded in completely cutting out the paperwork and lengthy waiting period for opening trading accounts.

This identification process is pretty standard and is required by financial companies. In financial jargon, this process is known as KYC (know-your-customer).

Deposit & Withdrawal

Bux supports multiple currencies, and users can make deposits with their cards, or opt for bank wires. While transfers that are made with card transactions are instantaneous, bank wire transfers will usually take up to 5 working days for full processing. It is refreshing to note that transaction charges are free according to the Bux system.

Base currencies vs similar brokers

BUX Interactive Brokers Degiro
Number of base currencies 9 21 9

The currency limit is relevant because funding your account in the same currency doesn’t attract a conversion fee from a different currency. Additionally, you pay no conversion fees for trading assets in the same currency as your base currency.

A smart solution to help you save on conversion fees is to open a multi currency bank account. Transferwise or Revolut are good options that offer bank accounts in multiple currencies and at great conversion rates. They also offer cheap and free international bank transfers. You can open an account from your phone in just a couple of minutes.

Deposit options

BUX Interactive Brokers Degiro
Bank transfer Yes Yes Yes
Credit/Debit card Yes No No
Electronic wallets No No Yes

Bux does not charge any deposit fees. Clients can quickly transfer funds to their Bux-X accounts with zero hassle. The platform supports the use of Debit/Credit cards as well as bank wire transfers. Users outside the EU might be required to pay conversion charges.

Card deposits are quick and seamless. You can only make deposits from accounts in your name, and the minimum transfer amount is £50.

Withdrawal fees and options

BUX Interactive Brokers Degiro
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

Bux does not charge withdrawal fees when clients make transactions. The withdrawal process is user-friendly and smooth as users can easily withdraw funds to their bank accounts with a few button taps. Your bank details are saved to aid convenient reuse and avoid time-wasting.

Below are the steps required to make a withdrawal from your Bux account:

  • Log into your Bux account
  • Navigate to the green screen and select “CASH”
  • Click on the “Deposit/Withdraw” menu
  • Your country of residence determines the payment options available to you
  • Your card/bank details are automatically linked to your account once you’ve made deposits with it.

You can go ahead and withdraw funds at any time with no hassles at all.

Trading Platform

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.

Desktop Trading Platform

Bux does not offer any desktop trading platform services to its customers and users.

Markets

Bux offers an impressive range of trading markets for its clients.

Markets & Products General

BUX Interactive Brokers Degiro
Stock Yes Yes Yes
ETF No Yes Yes
Forex Yes Yes No
Fund No Yes Yes
Bond No Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
Cfd Yes Yes Yes
Crypto Yes Yes Yes

Bux allows its many users to gain access to trading in various products according to preference. The trademark low financing fees make trading on the Bux platform very profitable for users, as evident by a large number of Bux-X subscribers.

Stock

Bux grants access to many of the major stock markets.

Stocks and ETFs
Bux Saxo Bank DEGIRO
Stock markets (#) 90 36 32

Forex

Bux offers an impressive range of currency pair options for trading clients.

Currency pairs
Bux Saxo Bank DEGIRO
Currency pairs (#) 23 182

Options

The options on offer with Bux are also impressive in their coverage. You can readily find option markets like Nasdaq, AEX, and Nikkei.

Options markets
Bux Saxo Bank DEGIRO
Options markets (#) 15 5 13

Futures

Bux offers its clients the chance to trade massively on Futures with access to 2 markets.

Futures markets
Bux Saxo Bank DEGIRO
Futures markets (#) 2 23 12

CFDs

CFDs are a high-risk market that leads to most investors losing money rapidly on leverages. As much as 62% of retail investor accounts fall victim and lose funds to the volatile nature of the CFD trading market. We advise that you seriously consider your CFD trading experience before venturing into this market. Bux has a relatively average offering on CFD stocks for trade.

CFDs
Bux Saxo Bank DEGIRO
Stock CFDs (#) 150 29

Crypto

Bux users can enjoy a diverse offering of cryptocurrencies to trade in. The platform has all the main cryptocurrencies for the preference of each trader, and you will find Bitcoin, Ethereum, Litecoin, and more. 

Research

Bux does not support a robust research function. However, they try to make up for it with an outstanding in-app chat system that connects all users trading on the platform. 

This system allows novice traders to connect with professionals that can offer useful tips and general advice on trading. It facilitates a somewhat laid back atmosphere for the exchange of trading knowledge.

Chat System

The platform has a state-of-the-art chat system that connects all users that trade with the app. Traders of all experience levels can collaborate and share tips on the trending products to look out for.

Customer Service

Bux has an efficient customer service that provides clients with relevant answers to queries. There are several communication channels like live chat, email, and phone. The staff is helpful and cooperative, and they provide efficient solutions to user queries.

Clients can enjoy their outstanding customer service in multiple languages, including English, Dutch, French, German, Italian, and Spanish. Communication channels like email, live chat all respond with reasonable speed, and the service provided is excellent.

Education

Bux provides all its users with a demo account at signup. The demo account contains FunBux that traders use to “play-trade” while learning the intricate workings of CFD trading.

Clients can use the demo accounts to get familiar with the platform’s many functions. You can also trade with play money before upgrading to a professional account with real monetary benefits.

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.

What Other Review-sites and Customers Say About BUX

To provide you with a more context about this broker, we will take a look at what other traders have to say about BuxApp. Keep in mind that the reviews – by their nature – are subjective, yet the overall sentiment should be clear and straightforward.

Trustpilot   4.1/5.0

Bux has an average rating of 4.1 on the Trustpilot review website. While a good number of clients praise the potentials of the app, some are a bit disgruntled with the amounts of money they lost while trading.

 Glassdoor   4.7/5.0

The prestigious employee review website, Glassdoor, scores BUX an overall rating of 4.7 on its employee satisfaction scale. Most employees have glowing things to say about the company, while a few staff clamor for an environment where they feel heard and understood professionally.

Product Hunt   5.0/5.0

Product Hunt has an impressive average score for Bux reviews – a full 5.0/5 — from its users. While it could be argued that two opinions aren’t enough for a solid impression, customer satisfaction is evident and speaks well of the app.

BUX Brief Overview

?️ Country of regulation 9
? Trading fees class Low
? Inactivity fee charged No
? Withdrawal fee amount €0
? Minimum deposit €50
? Time to open an account 1 day
? Deposit with credit card Yes
? Depositing with electronic wallet Not available

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