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As the ‘Millennials’ have started earning extensively, investing has become a necessity these days. As per the ING International Survey 2019, 61% of Europeans are concerned about saving for their retirement while 54% believe that they will have to earn after retirement as well. The reason behind this concern is that many in the young generation are not able to rely on traditional options such as a pension. This is where options such as BUX Zero will be of help.
The introduction of zero-commission investing by intuitive apps such as BUX Zero empowers more Europeans leverage such solutions to take control of their financial future. In fact, almost 50% of Europeans who took part in the survey believe that investing is a good way to save for their future.
Founded in 2014 by Nick Bortot in Amsterdam, BUX aims to make it easy and affordable for users to do more with their hard-earned money. Since its launch, the Dutch fintech has served over 2 million users across 9 countries in Europe. It is backed by Holtzbrinck Ventures, Velocity Capital, Finch Capital and Initial Capital. BUX provides short-term trading via an in-app community. Now, with the introduction of BUX Zero, the company makes commission-free investing accessible to all and lets users invest in brands and companies they like via an easy-to-use and intuitive app.
What is BUX Zero?
BUX just announced the BUX Zero for its waitlisted users in the Netherlands. Following the windmill country, the app will be launched in Germany and Austria. The company eyes for a broader rollout across Europe next year. BUX Zero will offer a more welcoming experience via the app and makes exploring performance and investments effortless.
Lets everyone invest!
Potential investors who are not from a strong financial background might find it tough to invest as commissions can eat into profit. BUX Zero lets everyone safe by investing small amounts. This way brands that might potentially go out of reach will also see investors.
BUX Zero is one of the exclusive apps in Europe that is powered by its own back-end broker. Eventually, the fintech company has developed a full-fledged stockbroker simultaneously while building the app.
“Having this full-stack back-end gives us a tremendous amount of flexibility because we aren’t tied to a third party’s legacy system. It makes our operations incredibly cost-efficient, so we can offer zero-commission investing. We can also easily offer innovative features, like fractional stock ownership in the future”, said Nick Bortot.
Order types offered by BUX Zero
Currently, BUX Zero offers two order types – Market Orders and Limit Orders for commission-free investment until the year-end. In 2020, the app will introduce a third type called Basic Order, which will be commission-free forever. Later, Market Order and Limit Order will charge a commission of €1 and €2 respectively. When this option is chosen, their orders will be executed at a fixed time each day.
BUX Zero’s subscription plan
Besides the three order types, the Dutch fintech company has also introduced a subscription plan. It will provide users an option to pay a fixed monthly fee to access unlimited commission-free Market, Limit, and Basic Orders. Notably, the subscription fee will be much lower than the commission of a traditional online broker.
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