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BUX

Company type	Private
Industry	Financial services
Founded	July 18, 2013; 11 years ago (2013-07-18)[1]
Founder	Nick Bortot[2]
Headquarters	Amsterdam , Netherlands
Area served	Netherlands,United Kingdom,Germany,Austria,France,Belgium,Italy,Spain,Denmark,Sweden
Key people	Yorick Naeff (CEO)
Services	Stockbroker Electronic trading platform
Number of employees	125 (2020[3])
Parent	ABN AMRO
Subsidiaries	BUX B.V. BUX Financial Services Limited BUX Alternative Investments B.V. BUX Technology B.V.
Website	getbux.com

BUX is aEuropean mobilebrokeragecompany, based inAmsterdam andLondon. Retail investors buyshares,ETFs andcryptocurrency through the BUX app. BUX allows usersCFD trading through its Stryk app and crypto trading using the BUX Crypto platform.^[4]

BUX was founded in July 2013 by Nick Bortot, a former executive atDutchonline brokerBinckBank.^[5][6] The initial funding came from the founders and Orange Growth Capital.^[7][8]

The company launched its first BUX app in September 2014 in the Netherlands and several months later in the UK.^[9][10] It was based onCFD trading.^[11]

In September 2015, BUX raised€1,700,000 from the American/British venture investorInitial Capital.^[12][13][8] In February 2016, it raised anotherUS$6,900,000 from Holtzbrinck Ventures, and existing shareholders Orange Growth Capital and Velocity Capital.^[12][14] Also in February 2016, the app became available inGermany.^[12][5]

In 2016 the company won "Accenture Innovation Awards".^[15] AlsoWired UK included the company into its "Europe's hottest startups 2016" list.^[16] In October 2016, the company removed the BUX app fromapp stores forBelgium just 1 month after launch, due to local law prohibiting the commercialization of leveragedCFDs.^[17]

In January 2017, the app was launched inItaly.^[18] In October 2017, the firm raised another €10,600,000 from two existing shareholders, Holtzbrinck Ventures and Velocity Capital Management, as well as from a number of private investors (such as Arthur Kosten, the formerCMO ofBooking.com,BinckBank founder Thierry Schaap and the CEO and founder of Mollienl:Adriaan Mol).^[19][20] BUX also launched acrowdfunding campaign onSeedrs, where it raised an additional €1,400,000.^[21][22]

By November 2018, the BUX app had 2 million users in 9 European countries.^[23]

In May 2019, BUX partnered withABN AMRO to use the bank’sblockchain-based technology in its new zero-commission investing app.^[24]

In June 2019, the firm raised US$12,500,000 in venture capital funds.^[25][26] Some of that money was put towards acquiring Ayondo Markets Limited (AML), a UK subsidiary of aSingapore-based broker Ayondo, in a deal estimated at£5,700,000.^[27][28][29] Also in June 2019, the BUX app was renamed to BUX X.^{[citation needed]}

In September 2019, a new app named BUX Zero, was launched in theNetherlands.^[30][31] In June 2020, it was launched inGermany andAustria and one month later inFrance.^[32][33] In August 2020, it became available inBelgium.^[34][35]

In January 2020, BUX acquired Blockport, a Europeancryptocurrency exchange.^[36] The firm registered it with theDutch Central Bank, rebranded and launched as BUX Crypto in April 2020.^[37]

TheFinancial Times andHandelsblatt reported that German neobankN26 wanted to acquire BUX for€200 million, but the deal collapsed after N26 pushed for new conditions and a lower price.^[38][39]

In December 2023, BUX was acquired byABN AMRO for an undisclosed amount.^[40]

The BUX app, launched in September 2019, allows users to trade European and US stocks andexchange-traded funds.^[33] Financial services are provided by BUX B.V. and regulated by theNetherlands Authority for the Financial Markets.^[41][42] As of October 2020, BUX Zero was available in theNetherlands, inGermany,Austria,France, andBelgium.^[34]

The revenue of the company is generated through € 1 commission on market and limit orders, however BUX invented a new order type, called the Zero order, which is free of charge. In the future, BUX will also generate revenue through securities lending, e.g. by lending out the shares held in custody against collateral. However, this service is not yet live. The statement by the company says "You have become a client of BUX and explicitly given approval for the lending of Your Financial Instruments. The aim of lending Your Financial Instruments is to achieve a return for BUX, make it possible to offer certain services free of charge and keep other costs as low as possible for You."

BUX X, launched in September 2014, is an app forCFD trading, amidst criticism that CFD trading was too complicated and risky for consumers.^[9][11][12] The service is provided by BUX Financial Services Limited, regulated by theFinancial Conduct Authority.^[43] As of September 2019, the app was available in the Netherlands, the UK, in Germany, Austria, Italy, Spain, France, Sweden and Denmark.^[44]

• Official website

• Bitcoin exchanges
• Financial services companies of the Netherlands
• Online brokerages
• Companies based in Amsterdam
• Financial services companies established in 2013
• Dutch companies established in 2013

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