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BUX Doing a Robinhood, Offers No Commission Trading on US Stocks

Zain Raza by Zain Raza - 11:12 AM May 27, 2020
BUX Doing a Robinhood, Offers No Commission Trading on US Stocks

It appears as low or no commission fee policy is the way forward.  BUX, a retail brokerage firm based in Amsterdam has followed in the footsteps of Robinhood, the no commission fee app in the US and is offering its users no cost trading of the US shares. The soft version of the short service is announced by the brokerage firm which also states that for advanced facilities, a small fee would be charged.

The decision might have to do something with the reception Robinhood received as it raised $280 million in funding in the latest round and has 13 million users as its popularity keeps on growing.  The firm acquired Blockport recently and renamed it to BUX crypto.  The platform offers crypto trading without commission too and offers services in more than twenty-five countries. It is also registered with the Dutch National Bank (DNB).

Multiples firms have lately adopted this strategy and it has been an instant hit with the people. The firms are cutting down on advertisements and promotional costs and the idea of having multiple physical locations. The amount saved is better utilized in ordering more affordable services to the customers.

BUX New Policy Could be a Masterstroke

With the no commission fee crypto trading and now US stocks, BUX is clearly looking to replicate the strategy of Robinhood and offer the same services to European traders. BUX crypto offers the trade of digital assets such as bitcoin, Ethereum and is also looking for ways to expand its crypto reach in the continent.

Many people believe the success of Robinhood had a lot to with the commission strategy they adopted and BUX would be looking to share a similar success story with their new strategy.

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About The Author
Zain Raza

Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

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