Bux Zero launches in Italy

Dutch online broker Bux is launching its mobile app in Italy. The investment platform now operates in 8 European countries, after setting foot in Ireland and Spain last year. Recently, Bux started offering cryptocurrency and fractured investing to its users.

Bux is an investment platform from the Netherlands. On its mobile app Bux Zero, users can invest in stocks and Exchange Traded Funds (ETFs) and, only recently, crypto and fractional investing plans. The company has more than 700 thousand customers.

8th European market

Italy is the eighth European market for Bux Zero, including the Netherlands, Germany, Austria, France, Belgium, Ireland and Spain. The last two markets were added last year. Back in April 2021, Bux raised 67 million euros for further European growth.

In 2021, Bux raised 67 million euros.

At the beginning of this year, Bux introduced cryptocurrency and fractional investing. Now users can invest small, monthly amounts in over 30 American stocks as well as 150 ETFs. Investors also gained access to 30 cryptocoins on the platform.

Bux Zero is known for its commission free trading in stocks and ETFs. Instead, users pay a fixed fee of 1 euro, similar to German competitor Trade Republic.

‘Backdrop of high inflation’

“Our presence in Italy comes against a backdrop of high inflation and dwindling trust in pension systems and traditional banks,” says CEO Yorick Naeff. “That’s why it’s vital that Italian investors have access to an intuitive app like BUX Zero.”

“We expect to appeal to different users.”

He adds: “We expect to appeal to a range of different users, from experienced investors attracted by our low fees, through to new investors, who are entering the markets for the first time.”

Turbulent stock market

Investment platforms are feeling the effects of the turbulent stock market in response to inflation and the war in Ukraine. Online broker Robinhood’s stock price fell 70 percent since IPO for example, and FlaxDeGiro’s price almost halved.

“We want to offer passive investors extra solutions.”

Bux confirms to Dutch newspaper Financieel Dagblad this plays a part in the launch of fractional investing and crypto. “The majority of our customers were already not actively trading”, says board chairman Yorick Naeff. “Now that more investors are becoming passive, we want to offer them extra solutions.”