BUX launches commission-free trading app in Ireland

European fast-growing neobroker BUX, announced the launch of its zero-commission investing app, BUX Zero in Ireland.

The investing app is available in the Apple, as well as the Google App Store. Traders using BUX Zero can invest directly in more than 2,000 stocks, open free accounts in minutes, deposit or withdraw money for free at any time. Users can also search for specific assets and make lists of their favourite stocks, and access investment plans, jargon-free news, and educational content.

Yorick Naeff, CEO of BUX, said:

Yorick Naeff, BUX

Yorick Naeff
Source: LinkedIn

At BUX, our goal is to create a new, more equitable financial future where anyone has the opportunity to invest and put their money to work. Against the backdrop of the 2008 financial crisis, followed by the tracker mortgage scandal, and, most recently, the impact of Covid-19, Irish people’s trust in the traditional banking sector has been eroded. This, combined with the imminent exit of two of Ireland’s largest banks from the market and the closure of other bank branches across the country, has left consumers with limited choice.

Naeff added:

As the Irish financial services landscape undergoes rapid change, BUX Zero is giving consumers more options when choosing what to do with their money. 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.

BUX launches commission-free trading app in Ireland

BUX revealed that its platform aims to provide not only intuitive investing tools but also the education and resources to do it responsibly.

Based in Amsterdam, the company recently secured an $80 million (€67 million) investment in a funding round. BUX highlighted that it has noticed a growing appetite across Europe for simpler ways to start investing among the younger generation. For that reason, the company is focusing efforts on scaling internationally.

The BUX zero app has a complex engine that allows the Dutch regulated BUX to process transactions, send clients to different stock exchanges, and process payments without relying on a legacy institution.

The broker leverages Yapily’s Open Banking infrastructure, which allows its users to make simple, hassle-free deposits into their accounts. Irish clients are able to connect and fund accounts through Open Banking with financial service providers like Revolut. According to the official announcements, others are expected to be added later this year.


Read Also: