As it turns out, it is the second clone of BUX in the UK within the last 12 months.
The
Amsterdam-based commission-free trading platform, BUX, has gained significant
popularity among retail investors in recent years by offering trades in stocks,
ETFs, and cryptocurrencies. One downside to this success is the increasing
number of companies and individuals impersonating the platform. This week, the
UK's Financial Conduct Authority (FCA) issued a warning about one such clone.
The FCA
cautions that clone firms often mimic authorized companies' details to deceive
people into thinking they're legitimate. It urges people to avoid any dealings
with these clones as they could result in financial loss.
"This
firm is not authorized by us but has been contacting people pretending to be an
authorized firm. This is what we call a clone firm," the FCA warned in its
latest statement.
The clone
operates under the website trader.bux-markets.com, contacting potential clients
via the email address service@bux-markets.com. The official BUX site is
buxmarkets.com, and the email address for official communication in the UK is compliance-lon@getbux.com.
Although
the clone company's website significantly differs from the original platform, the logo is identical.
It turns out that this is not the first time someone has tried to impersonate BUX. The FCA issued a warning in November 2022 about another company named BUX Forex.
The FCA
reminds people to only deal with financial firms authorized by them, as this
offers greater protection if things go wrong. They also encourage verifying any
firm's credentials in the Financial Services Register (FSR) to ensure they have
the appropriate licenses for providing investment services.
Simultaneously,
BUX has responded to market demand by extending its offerings to include
financial instruments usually exclusive to institutional investors. In
collaboration with investment behemoth BlackRock, the company has introduced
iBonds ETFs to its product lineup. These ETFs merge the features of traditional
bonds and ETFs, offering European retail investors an economical pathway to the
corporate bond market.
The
Amsterdam-based commission-free trading platform, BUX, has gained significant
popularity among retail investors in recent years by offering trades in stocks,
ETFs, and cryptocurrencies. One downside to this success is the increasing
number of companies and individuals impersonating the platform. This week, the
UK's Financial Conduct Authority (FCA) issued a warning about one such clone.
The FCA
cautions that clone firms often mimic authorized companies' details to deceive
people into thinking they're legitimate. It urges people to avoid any dealings
with these clones as they could result in financial loss.
"This
firm is not authorized by us but has been contacting people pretending to be an
authorized firm. This is what we call a clone firm," the FCA warned in its
latest statement.
The clone
operates under the website trader.bux-markets.com, contacting potential clients
via the email address service@bux-markets.com. The official BUX site is
buxmarkets.com, and the email address for official communication in the UK is compliance-lon@getbux.com.
Although
the clone company's website significantly differs from the original platform, the logo is identical.
It turns out that this is not the first time someone has tried to impersonate BUX. The FCA issued a warning in November 2022 about another company named BUX Forex.
The FCA
reminds people to only deal with financial firms authorized by them, as this
offers greater protection if things go wrong. They also encourage verifying any
firm's credentials in the Financial Services Register (FSR) to ensure they have
the appropriate licenses for providing investment services.
Simultaneously,
BUX has responded to market demand by extending its offerings to include
financial instruments usually exclusive to institutional investors. In
collaboration with investment behemoth BlackRock, the company has introduced
iBonds ETFs to its product lineup. These ETFs merge the features of traditional
bonds and ETFs, offering European retail investors an economical pathway to the
corporate bond market.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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