Product Overview
Broker Account – BUX Zero
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Bux Zero is an online social trading platform that offers commission-free stock and ETF trading. Bux Zero is available for all investors in Germany to trade and invest in various financial assets. However, considering the available markets in the platform, the investment options are relatively limited as Bux Zero offers US and EU stocks only. Currently, the broker provides a mobile-only trading app and has gained over 100 000 users. Bux Zero created the Zero Order to users who would like to invest in shares and ETFs commission-free. Hence, Bux Zero is a better option for investors as it provides several advantages to its users.
- Trade the various products such as stocks, ETFs, Forex, CFDs, cryptocurrencies, commodities, shares, and more.
- Best suited for beginner traders, as the mobile-based platform is simple and easy to use.
- German clients can easily make withdrawals and deposits through Open banking, supported by various banks such as Unicredit, Comdirect bank, Landesbank, Revolut, N26, Commerzbank, and others.
- Low commission fees on Market and Limit Orders and a completely commission-free EU trading on Zero Orders.
| Disclaimer: | 67% of private investor (CFD) accounts lose money. |
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How to Sign Up
- Download the mobile app and click the sign-up button.
- Enter the required details in the registration form and submit.
Pricing and Fees
Bux Zero is very transparent on its fees. Investors in Germany can open accounts free of charge. Furthermore, the company does not charge any commission on deposits and withdrawals, custody fees, and real-time quotes. The broker also introduced a Zero Order among other orders such as Market and Limit.
Fees
- FX markup fee of 0.25% to the EUR/USD FX spot rate on every dividend bought or sold from the US stocks.
- Commission-free zero orders for EU shares and ETFs.
Zero Orders are executed at the end of every trading day, and to avoid overpay or undersell, Bux Zero may not allow a sell order to have a pricing difference that is higher than 5%. Similarly, the platform may cancel a buy order if the pricing difference is higher than 4%. The pricing difference occurs when the market price at the end of a trading day is higher than a specific amount than at the moment an order was placed.
- € 1 commission fee for all Market Orders on EU shares and ETFs.
- € 1 commission fee for all Limit Orders on EU shares and ETFs.
- Inactivity fee: € 5 per month of inactivity.
Bux Zero charges an inactivity fee on users whose accounts have been inactive for 90 days. Users with a cash balance that is less than or equal to zero in their accounts are not charged the inactivity fee. The inactivity fee recurs every month until the account user contacts customer care or becomes active.
- Financing fee: Varies depending on the product and the multiplier.
- Varying overnight fee.
Benefits of Using Bux Zero
- Bux Zero offers a free share bonus for new users through a promo code: Once you have made your first deposit, Bux Zero will give you a free share of a value between €0 and €200. Shares are randomly selected every weekday.
- Supports margin trading with varying limits.
- No withdrawal or deposit fees and charges very low commissions for market and limit orders.
- Provides user-friendly mobile interface for seamless trading experience.
- Provides a relatively wide range of trading markets.
Bux Zero provides EFTs and stocks from the EU and US markets. Even though the market list is relatively small, the company is interested in adding more products based on the feedback they receive from platform users. Currently, the Bux Company offers several other assets such as cryptocurrencies, commodity derivatives, forex, and indices through Bux crypto and Bux X.
- Offers a transparent fee structure.
- Excellent customer service.
Bux Zero does not offer an extensive research system; however, novice traders can ask and receive responses from expert traders using the in-app chat functionality. There are also articles, forecasts, and insights in the platform that are helpful.
- BUX Zero is a registered and regulated broker.
- Competitive rates for all users using live accounts.
Mobile App
Bux Zero offers a mobile-only trading option. The mobile app is free and available in the App Store and Play Store. Even though the mobile app is state-of-the-art and user-friendly, there are limited technical and fundamental analysis tools. Expert traders who may need to use more advanced tools may be disadvantaged in this platform.
Documentation Needed.
Bux Zero collects various information as part of the sign-up process and in accordance with the Bux Zero Client agreement. The pieces of information collected include:
- Nationality
- Name
- Date of birth.
- Place of birth.
- Place of residency.
After submitting the required information, users are asked to scan valid proof of identification. The valid proof of identification includes any of the following documents:
- Valid Driver’s License.
- Government-issued Identification card.
- Passport
New users must verify their accounts to begin trading. They are also required to set a Personal Identification Number for logging in. Users must ensure that they can always access their email account that is linked to the trading app.