Within two months, investors can trade in shares for free for the first time with a Dutch broker. This is Bux, which raised € 11.1 million from existing investors on Wednesday for a takeover and the launch of the mobile app Stocks.
Initially this was already planned for the first quarter. “We are entrepreneurs and were somewhat optimistic. Moreover, in the meantime there was the opportunity to take over ayondo, “says founder Nick Bortot.
By taking over this partner, Bux grows into a full broker, which performs all services including administration.
For several years, investors in the Netherlands and various other European countries have been able to trade in so-called CFDs via Bux’s mobile phone. These are investment products that allow you to respond more quickly to an expected rise or fall in the price of, for example, a share or a currency.
Via the Stocks mobile app, customers can invest in popular European and American stocks somewhere mid-summer without transaction costs. That is unique in the Netherlands, because even cheap brokers such as DeGiro charge at least a few euros per transaction. Stocks users who want more advanced applications pay a modest transaction amount.
More than one hundred thousand investors are now on the waiting list. Bortot expects especially the 25 to 45 year olds to use the app.