BUX Markets is a UK based investment company that is aiming to disrupt trading and make it accessible to everyone. The company is part of the BUX Group, an award winning FinTech company that is disrupting the world of finance. BUX Group has over 2 million users and offers a number of mobile and online applications on trading and investments. The BUX Group now serve clients in more than 100 countries and have offices in London and Amsterdam.
BUX Markets offers a sophisticated proprietary online trading platform for individuals investing in CFDs and spread betting – TradeHub. The platform is web based, although mobile applications are also available.
Markets Covered
BUX Markets clients get access to a good range of instruments and markets to choose from. For instance, you have access to:
- CFDs
- Precious metals
- Interest/bond rates
- Over 30 FX currency pairs
- Major Asian, European and US indices
- Shares in Major blue-chip companies, including Starbucks and Coca-Cola
Clients from the United Kingdom and Ireland can also open a spread betting account. Moreover, users can speculate on the latest cryptocurrencies, such as Bitcoin.
Average Spreads & Commissions
Spreads at BUX Markets are variable, with the EUR/USD spread starting from 0.8 pips. This is quite competitive when compared to other brokers as many offer this in the 1.0 to 1.5 pip range for this pair.
The Bux Markets website is quite easy to navigate and the user-friendly trading interface means it would be suitable for newer traders looking to try out their hand at CFDs.
Leverage
BUX Markets does permit trading on margin. Essentially, this allows you to borrow money from your broker to capitalise on a potential opportunity. However, leveraged trading comes with risks. However, BUX is different to other providers in that it permits you to manually adjust your leverage limits to a level you feel comfortable with.
Other Trading Fees
There are some additional costs to be aware of:
- You will pay an overnight rollover fee of about 3% for long positions.
BUX Trading Platform
The core component of any brokerage operation will be their trading platform. BUX’s TradeHub platform is intuitive and easy-to-use. It is also customisable which helps to speed up trading analysis and execution. Cash balances, margin information and financial instruments are readily visible. Information and lot sizes are also clear, while the trading interface is clean and sleek. The platform also supports OCO orders and guaranteed stop loss orders.
One limitation with BUX Markets is that you can only have one active watchlist. You can still create multiple watchlists but you can only have one visible at a time. Also, the positions box seems to be hidden by default.
Safety and Security
Giving the increasing security risks on the internet it is also important to ask – but how safe are BUX Markets? We are satisfied by their regulatory status and the safety measures they’ve taken to protect client monies:
- Segregated bank accounts to keep customers’ funds separate from Bux operating capital.
- Negative balance protection that ensures you cannot exceed your account balance.
- Advanced encryption technologies to guard against attacks and frauds.
- Daily internal reconciliations are undertaken to ensure solvency.
- An annual audit is carried out by an independent auditor.
- BUX also have a free insurance policy for all accounts. Introduced in 2015, this covers up to £1,000,000 in excess of the standard FCSC cover for each client. In fact, this is among the most comprehensive cover in the industry.
If you wish to check BUX you can open a demo trading account by clicking here.
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