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).
Today we’re announcing a $280M Series F funding. Amid challenging times, we’re humbled that people are using Robinhood to build their financial future, and we look forward to continuing to serve our customers. https://t.co/yZigUw6JxO— Robinhood (@RobinhoodApp) May 4, 2020
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.
We’re proud to announce that BUX Crypto is LIVE ? To celebrate the launch we have a special promotion for everyone:Make sure to be one of the first 5000 users to trade commission-free and earn BUX Tokens as a reward for signing up! Link to article: https://t.co/cxQ4FgM131 — BUX Crypto Official (@buxcrypto) April 8, 2020
BUX New Policy Could be a MasterstrokeWith 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.
Articles You May Be Read.
- Best Bitcoin Management Mobile Apps In 2020 | Quick Guide
- Beginner Guide To Super Bitcoin From Scratch To Hatch
- What Is The Main Objective Of Bitcoin SV Hard Fork
About The Author
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.
Ethereum Address Holding 100,000 USDC Is Bann...Jyoti Singh 13:19 PM 09 Jul 2020
Animoca Brands Reports $7.34M Revenue Amid Pa...Vandana Malik 12:55 PM 09 Jul 2020
Cardano IOHK To Launch Goguen For Creating Ne...Jyoti Singh 12:28 PM 09 Jul 2020
Barry Thompson Expected to Plead Guilty in $7...Vandana Malik 11:48 AM 09 Jul 2020
Australian Comedian Jim Jefferies Owns More B...Jyoti Singh 11:16 AM 09 Jul 2020
Crypto Ban in India Might be Quite Alarming f...Vandana Malik 13:01 PM 09 Jul 2020
Coinbase Appoints Former US Magistrate Paul G...Jyoti Singh 09:44 AM 09 Jul 2020
Similarity And Difference Between Litecoin An...Aditya Nagar 09:54 AM 09 Jul 2020
PlanB Explains Reason Behind Bitcoin Being Hi...Vandana Malik 06:39 AM 09 Jul 2020
Brave Announces Partnership With bitFlyer to ...Vandana Malik 08:22 AM 09 Jul 2020