BUX Europe gains CIF license, appoints Jean-Raphael Naha as managing director

Dutch online broker BUX has obtained a Cyprus Investment Firm (CIF) licence, which gives the firm the authorization to offer financial services from Cyprus.

The fast-growing neobroker also revealed that it hired Jean-Raphael Nahas as a new Managing Director of its Cyprus CFD operations.

The move follows the appointment of veteran online brokerage executive Salim Sebbata, as CEO, BUX CFD, earlier in 2021.

Sebbata, CEO BUX CFD, commented:

Salim Sebbata, BUX

Salim Sebbata

BUX is looking forward to bringing onboard someone with Jean-Raphael’s track record of driving growth, business development opportunities and heading operational management. BUX’s CFD business is in a pivotal moment of development as we continue to build on the strong momentum of interest in the world of online trading. The EU and UK markets remain key hubs for the group and are also attractive target markets. Jean-Raphael’s previous experience aligns well with our plans to catapult BUX’s CFD business into the next phase of growth.


In his new role as managing director, Nahas will be responsible for all European CFD business of BUX, running the firm in Cyprus, and is part of the CFD leadership team.

Nahas, Managing Director Cyprus CFD operations, added:

BUX is a well-established and respected brand in Europe. Its vision and ambition are driven by a multi-cultural and highly talented team. BUX X is a unique in-house built mobile app, that is one of the most innovative trading apps in the world due to the unique combination of social and financial trading enhanced with gamification features.  BUX continues to differentiate itself within the CFD space, and with its strong growth plans, I look forward to working with the talented team and bringing BUX X to the next level.

Last year, BUX expanded its services in Europe with the launch of its zero-commission investing app, BUX Zero in Ireland.


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