TRADING APP BUX WELCOMES 500,000TH USER
German and Austrian roll-out successful. Scandinavia and Belgium up next.
London - July 14, 2016: BUX, the app that makes trading on the financial markets accessible and exciting for everybody, welcomed its 500,000th user yesterday. After a successful launch in the UK and the Netherlands in 2014, followed by Germany and Austria at the end of 2015, BUX will be rolling out in the Scandinavian region and Belgium soon. “Our target is to expand throughout the rest of Europe before the end of 2017. This milestone is an important step in the right direction”, says Nick Bortot, CEO of BUX.
The reason for BUX’s success lies in its disruptive approach to trading on the financial markets. Where traditional trading platforms are very complicated, expensive and don’t limit risk sufficiently, BUX makes trading extremely easy, affordable, relatively safe, educational and fun. The community features in the app, such as a WhatsApp-like functionality that allows users to start discussion groups to exchange trading information with each other, make playing the markets a communal experience as well.
With this approach, BUX has managed to attract a completely new audience. Whereas, up until now, the average age of the self-directed investor has been 45 years old, 61% of BUXsters are younger than 35 years old and 78% of them have little to no trading experience.* BUX is the app that opens up the financial markets to the generation of Millennials.
The BUX Community: Innovating Finance
As an experiment, BUX introduced new community features within the app at the end of 2015. The personal profile page was made more prominent, BUX Battle functionality was improved, ‘BUX Chat Groups’ were introduced, as well as ‘BUX Channels’, a one-to-many chat functionality through which, for example, an experienced trader can share trading tips and tricks with newbie traders.
Already a third of all BUXsters are currently using these community features, of which users say they make them feel much more ‘confident’ with their investing and trading decisions. “With BUX, we’re constantly experimenting with new app features, which are predominantly inspired by industries other than finance, like social, messaging and gaming. We believe that this is the only way to be truly innovative so that we’re not developing a ‘me-too’ financial product”, says BUX CEO Nick Bortot.
* Source: BUX Typeform Client Survey 2015/2016
WHAT IS BUX?
BUX is a trading app that makes playing the markets super easy and relatively safe for everybody. You can now experience the excitement of the stock exchange, even if you don’t have tons of trading experience or wads of cash to spend. BUX brings the fun into finance and makes stocks trading accessible for everyone.
WHY DID WE START BUX?
Most people think the world of finance is super-complicated and mind-numbingly boring. But at BUX we know that the financial markets are, in fact, the most important, the biggest, the most influential and the most exciting game in the world. The financial markets are inseparably connected to international business, politics and our world economy, which makes trading stocks actually something super-interesting to do. But go and try to get this point across over a few drinks at a party: before you’ll know it, you’re the one standing in the corner, all by yourself, sadly trying to maintain a posture by nibbling on a party snack. We feel this needs to change. Now, finally, technology enables us to create an app which opens the markets for everyone and makes trading stocks as easy as liking a post on Facebook. Whereas traditional finance is as boring and elitist as classical music, BUX rocks the world of finance and let’s everyone experience how exciting trading stocks actually is. Enjoy the party!
ABOUT THE COMPANY
Four Dutch entrepreneurs founded BUX: Egbert Pronk, Nick Bortot, Robbert Bos, and Joost van de Wijgerd. BUX’s CEO Nick Bortot co-founded BinckBank, with over 550 employees, the largest online discount broker in the Netherlands, listed on the Euronext stock exchange. From the headquarters in Amsterdam, BUX sets out to rock the global world of finance. The team currently consists of 35 employees that have rolled out BUX in the Netherlands, United Kingdom, Germany, Austria and Italy, with plans to expand globally. BUX has received the honour of being listed in the Fintech50 2015 – the annual list of Europe’s most promising fintech start-ups. Holtzbrinck Ventures, Orange Growth Capital, Velocity Capital and Initial Capital have funded BUX. BUX’s trading partner is Ayondo Markets Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) and is covered by the Financial Services Compensation Scheme (FSCS).