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
BUX is a tech company that aims to rock the world of finance by offering a single destination for everyone who wants to do more with their money. BUX makes it easy and affordable for people to participate in the financial markets through its mobile platforms for commission-free stock investing and speculative trading. Since launching in 2014, BUX has made the markets accessible for nearly 2 million users across 9 countries in Europe. Headquartered in Amsterdam, the Netherlands, the company is backed by Holtzbrinck Ventures, Finch Capital, Velocity Capital and Initial Capital.