BUX, a mobile equity trading game broker and widely used app in the UK and Netherlands, has welcomed its 500,000th user, amidst an announcement that it will be expanding to Northern Europe and Belgium, per a BUX statement.
Having launched just two years ago in the UK and Netherlands, BUX has already expanded to its area of operation to Germany and Austria in 2015. With its pool of users growing at a healthy rate, the group has already eyed an expansion across continental Europe. These sentiments were echoed by BUX’s CEO Nick Bortot, who stated: “Our target is to expand throughout the rest of Europe before the end of 2017. This milestone is an important step in the right direction.”
BUX has had success in its implementation of its market permeation, namely given its disruptive approach across financial markets in Europe. Its versatility and user-friendly interface has made it easy to assimilate across the exchange trading community, making concession to user and communal experience in a bid to foster greater use and enjoyment from clients.
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The group’s clientele is relatively diverse – while the average age of retail brokerage customers is 45 years old, approximately 61% of BUX’s users are aged 35 years or younger, while 78% of clients possess little to no trading experience. One of the main draws of BUX has been its ability to cater to millennials and novice traders, many of whom find BUX an ideal bridge into the trading realm that is often dominated by more experienced and professional traders.
In addition, BUX has also made a number of upgrades to its app, including several community features within the interface itself – BUX Battle was given an overhaul, while the group also rolled out BUX Chat Groups and BUX Channels, a portal to help foster multilateral trading communication between traders of varying skill levels.
“With BUX, we’re constantly experimenting with new app features, which are predominantly inspired by industries other than finance, like social, messaging and gaming. We believe that this is the only way to be truly innovative so that we’re not developing a ‘me-too’ financial product”, saidd Mr. Bortot.
“BUX is an interface and brand play: brokerage has become a commodity, so the main distinguishing factors are our interface and brand. We have a great and unique team of top notch mobile developers and designers – high quality mobile developers are extremely hard to find these days – who focus on the interface 100%, as we outsourced the whole backend (customer admin, trading, risk, legal, compliance) of the company to ayondo markets,” he added in an exclusive statement to Finance Magnates.