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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.
Disclaimer: | 67% of private investor (CFD) accounts lose money. |
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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.
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.
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.
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.
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 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.
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:
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:
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.