Financial and Business News

BUX Quietly Shuts Down Its Cyprus-Regulated CFDs Platform

Wednesday, 03/07/2024 | 07:36 GMT by Arnab Shome
  • The decision came after BUX was acquired by Dutch lending giant ABN AMRO.
  • It offered CFD clients the option to migrate their accounts to AvaTrade.
A notice on the website of Stryk
A notice on the website of Stryk

BUX, the Dutch neobroker now fully owned by ABN AMRO, has quietly closed down its contracts for differences (CFDs) platform, Stryk, as it focuses “more on mid and long-term investing via the BUX app.” It has also allowed customers to migrate their accounts to AvaTrade, another CFDs broker.

Stryk Decommissioned

“We are reevaluating the position of speculative trading products within our group’s overall offering,” the FAQ section of the now-closed platform noted. “As part of this change in strategy, we are decommissioning Stryk, our CFD trading app.”

Elaborating on the decision to close the platform, BUX highlighted that it has been increasing its focus on “long-term wealth creation” and the “decommissioning of Stryk completes the strategic pivot.” It will also allow the company to “streamline [its] operations and allocate resources more efficiently.”

Further, the regulatory environment also played a role. “The landscape for CFDs has changed significantly since we entered the CFD market,” the website of the closed platform added. “In this environment, we believe that our resources are better directed towards the BUX mobile app, which focuses on mid and long-term investing and is poised for healthy growth in the coming years.”

Rebranding to the Strategic Path

BUX initially launched its CFDs offerings under the brand BUX X but rebranded it to Stryk in July 2022 to differentiate it from the company’s zero-fee trading app, which was also rebranded to BUX from BUX Zero in mid-2023.

Also, the group operated the CFDs business under its UK-regulated entity. However, it shifted the CFDs business under the Cyprus-regulated BUX Europe to expand the services in the European markets. Although the Stryk brand has been decommissioned, according to the regulatory registry, BUX Europe still holds the Cyprus Investment Firm licence.

Details of the Cyprus Investment Firm license of BUX Europe on CySEC's registry
Details of the Cyprus Investment Firm license of BUX Europe on CySEC's registry

While it is unclear when exactly Stryk was closed down, Wayback Machine shows that the step was taken at the beginning of this year.

Meanwhile, the acquisition of the Netherlands-based BUX was recently completed by the local lending giant ABN AMRO, which will now mark its presence in the retail investment markets. However, the financials of the deal remain unknown.

BUX, the Dutch neobroker now fully owned by ABN AMRO, has quietly closed down its contracts for differences (CFDs) platform, Stryk, as it focuses “more on mid and long-term investing via the BUX app.” It has also allowed customers to migrate their accounts to AvaTrade, another CFDs broker.

Stryk Decommissioned

“We are reevaluating the position of speculative trading products within our group’s overall offering,” the FAQ section of the now-closed platform noted. “As part of this change in strategy, we are decommissioning Stryk, our CFD trading app.”

Elaborating on the decision to close the platform, BUX highlighted that it has been increasing its focus on “long-term wealth creation” and the “decommissioning of Stryk completes the strategic pivot.” It will also allow the company to “streamline [its] operations and allocate resources more efficiently.”

Further, the regulatory environment also played a role. “The landscape for CFDs has changed significantly since we entered the CFD market,” the website of the closed platform added. “In this environment, we believe that our resources are better directed towards the BUX mobile app, which focuses on mid and long-term investing and is poised for healthy growth in the coming years.”

Rebranding to the Strategic Path

BUX initially launched its CFDs offerings under the brand BUX X but rebranded it to Stryk in July 2022 to differentiate it from the company’s zero-fee trading app, which was also rebranded to BUX from BUX Zero in mid-2023.

Also, the group operated the CFDs business under its UK-regulated entity. However, it shifted the CFDs business under the Cyprus-regulated BUX Europe to expand the services in the European markets. Although the Stryk brand has been decommissioned, according to the regulatory registry, BUX Europe still holds the Cyprus Investment Firm licence.

Details of the Cyprus Investment Firm license of BUX Europe on CySEC's registry
Details of the Cyprus Investment Firm license of BUX Europe on CySEC's registry

While it is unclear when exactly Stryk was closed down, Wayback Machine shows that the step was taken at the beginning of this year.

Meanwhile, the acquisition of the Netherlands-based BUX was recently completed by the local lending giant ABN AMRO, which will now mark its presence in the retail investment markets. However, the financials of the deal remain unknown.

Topics
Stryk
bux
About the Author: Arnab Shome
Arnab Shome
  • 7241 Articles
  • 132 Followers
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.

More from the Author

Retail FX

Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

Blueberry Broker Review 2026: Regulation, Platforms, Fees & Trading Conditions | Finance Magnates

In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights

In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
More Videos

  • Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy

    Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy

    Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how. Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss: - Exness’s marketing approach in South Africa - What makes their trading product stand out - Customer retention vs. acquisition strategies - The role of local influencers - Managing growth across emerging markets 👉 Watch the full interview for fundamental insights into the future of trading in Africa. #Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates

    Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how. Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss: - Exness’s marketing approach in South Africa - What makes their trading product stand out - Customer retention vs. acquisition strategies - The role of local influencers - Managing growth across emerging markets 👉 Watch the full interview for fundamental insights into the future of trading in Africa. #Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates

  • How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?

    How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?

    Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility. ⚖ Balanced reporting 📞 Right of response 📰 Responsible journalism #FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards

    Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility. ⚖ Balanced reporting 📞 Right of response 📰 Responsible journalism #FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards

  • Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25

    Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25

    Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex. We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry. Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market. We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.

    Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex. We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry. Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market. We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.

  • Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets

    Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets

    According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting. 📰 Verified reporting 🔎 Human-led scrutiny ✅ Facts over noise

    According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting. 📰 Verified reporting 🔎 Human-led scrutiny ✅ Facts over noise