BUX, Europe’s fastest-growing mobile brokerage, is launching STOCKS, a new mobile app that will enable everyone in Europe to buy and sell shares for free.
Despite historically low interest rates across Europe having a negative impact on savings, many people have been reluctant to change their financial behaviour, according to research by ING. Most are wary of investing, with a majority citing risk and lack of capital as the main reasons.
STOCKS will enable users to trade European and US shares for free, with users who want access to more advanced functionalities paying a small fee for the execution of their transactions.
While traditional online brokers are mostly web-based with token ‘companion’ mobile apps, BUX is focused on providing a mobile-first trading solution. STOCKS users will be able to register, onboard, and trade stocks and shares via the app – providing the modern day investor with the convenience to trade anywhere at any time.
“In particular, millennials think investing is only for the wealthy due to the notoriously high associated costs,” said Nick Bortot, CEO and founder of BUX. “The stock markets have traditionally been inaccessible for the majority of Europeans, but we’re changing that with the launch of STOCKS. With some investors paying up to £11 per trade, their total return over time is limited, so we’re excited about enabling users to save money as well as help their investments compound at a faster rate.”
This is BUX’s second product after it launched its first app in 2014. BUX focused on offering users speculative CFD trading, and attracted nearly 2 million users across Europe since launching.
Bortot added, “The rise of mobile stocks trading has the potential to double the current market of private individual investors across Europe. To date, there have been limited opportunities for individuals to confidently invest. STOCKS is the answer to that problem. This new app is the next step in our journey to empower participation in the financial market in an easy and affordable way.”
“Ultimately, by 2020, BUX aims to be the single destination for those who would like to do more with their money. Whether it’s long-term investing or short-term trading – for every investment need, there will be a BUX solution.”
The app is currently in development and will be released in early 2019.