Photo: BUX Zero
Danish broker BUX continues its expansion across Europe and announced on Monday the launch of its zero-commission investing app, Bux Zero, in Ireland.
The mobile-only platform will be available on both Android and iOS devices, allowing investors to trade more than 2,000 stocks listed on the platform. The latest expansion came after the neobroker raised $80 million in a recently closed funding round and said that it will utilize the proceeds for expansion.
“As the Irish financial services landscape undergoes rapid change, BUX Zero is giving consumers more options when choosing what to do with their money,” BUX CEO, Yorick Naeff said in a statement.
Expanding Across Europe
Launched in September of 2019, BUX is leveraging the commission-free trading frenzy and bringing the model to Europe. The platform is regulated in Denmark and claims to have more than 500,000 clients.
Apart from its Danish base and has recently entered Ireland, the platform is operating in five other European countries: Netherlands, Germany, Austria, France and Belgium. Now, it has plans to expand further across the continent in 2021.
“Providing an avenue for direct investment, BUX Zero is making commission-free investing accessible for both first time and existing investors by allowing them to easily invest in companies they know and believe in. Irish customers are conscious consumers who are tech and money savvy, with a strong appetite for digital-first financial services. This made our decision to launch in the Irish market an easy one,” Naeff added.
BUX is taking an alternate approach to educating investors as well, rather than only offering trading services.
“Investing has long been something for those with the capital and the knowledge to do so, and the rise of retail trading has left many new entrants to the space navigating an often complex environment,” the CEO continued.