BUX Markets Review
Richard Montana | November 17, 2022
BUX Markets is a regulated broker that provides you with CFD trading on various asset classes via its proprietary TradeHub platform. I think it is great that they support social trading for clients who wish to provide or copy trading signals. This makes them an option for those who do not have the time or knowledge to trade by themselves. I found them to have reasonable spreads and fees but thought that they were lacking in terms of funding options. They do not offer the popular MetaTrader platforms so you will need to look for another broker if that is your platform of choice. There is also no live chat support on the brokers website but this isn’t really a deal breaker for me.
Pros & Cons
- Award winning trading platform
- Good range of markets covered
- You can copy and provide trading signals
- Educational resources for beginners
- Free demo accounts
- Limited account funding options
- No additional trading tools
- No live chat support
- Account inactivity fees
BUX Markets is a UK based global brokerage that makes trading online easily accessible to traders of all experience levels. Founded in 2014, they have good trading condition including competitive spreads along with an intuitive platform for trading by yourself or to follow the trading signals of other traders known as “Top Traders”.
You will find that they have a sophisticated online trading platform for you to trade CFDs as well as business-to-business services that have been designed to help partners expand their product reach. I like that there is a range of markets covered, including shares, indices, currency pairs and commodities. This is a good variety with plenty of choice for everyone.
The broker is part of the BUX Group who are an award winning FinTech company that has millions of users and offers a multitude of mobile and online applications for trading and investments. They serve clients around the globe in more than 100 countries.
If you are looking for a reliable broker with modern technologies for trading a range of popular markets, I think you can’t really go wrong with BUX Markets.
BUX Markets is a Trading Name of BUX Financial Services Limited. BUX Financial Services Limited is a company registered in England and Wales under register number 03148972. BUX Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) with registration number 184333.
I like that they are regulated by a top-tier regulator in the FCA. It means that they need to comply with rules put in place to protect investors and operate in a transparent manner. This gives me reassurance that my funds will be safe so that I can focus on my trading without worrying. If regulation is as important to you, Plus500 are one of the most well-regulated alternatives you can find.
BUX Markets offer free Negative Balance Protection to protect you from losses exceeding your capital. In the event your losses exceed your account balance, the broker states that they will not seek to recover those losses from you. This can make you feel safer while you are trading with them and enables you to calculate in advance your maximum loss should the market move unexpectedly.
They also offer free additional insurance of up to £1,000,000 per eligible client in excess of the standard Financial Services Compensation Scheme (FSCS) cover. Furthermore, an annual client money audit is carried out by an independent audit firm.
The broker uses some of the highest levels of financial services security on all software to help protect you from attack and fraud. They are constantly reviewing their systems against both current and projected security threats according to financial services industry best practice.
BUX Markets service is not directed nor is intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. Such residents and countries include, but are not limited to, the United States. If you are in a country they do not serve, feel free to take a look at our broker reviews for an alternative.
BUX Markets have an advanced charting package known as TradeHub. It comes loaded with an impressive choice of 13 different chart types and 170 chart analysis tools that you can use in your daily trading activities. Whatever your trading style, you can create and save customised templates of your strategies. The platform utilises award-winning and sophisticated technology that is combined with a simple interface and reliable execution speeds.
I found the platform was easy to use and feel that it can meet the demands of most retail traders. That being said, I personally prefer MetaTrader due to its automated trading capabilities. If you plan on running trading robots, you might want to take a look at HYCM.
The BUX Markets TradeHub platform has the following features:
- Real time price quotes
- Intuitive, user friendly design
- Choose from 13 different chart types
- Choose from over 170 studies
- Modern technical indicators
- Pattern recognition
- Simple filters make searches fast, easy and accurate
- Customise your chart settings
- One-click trading from the charts
- Transparent fees
- Variable margin rates
- 24 hours dealing desk
The TradeHub platform can be used wherever you are, on your PC, tablet or mobile. You can download the TradeHub app for iOS and Android devices for trading whilst on the go provided you have an internet connection. I like that the web version of the platform can also be used directly within your web browser without needing to download or install any additional software. It means that you will always be using the latest version of the platform and can access your account from any device.
The BUX Markets TradeHub app has the following features:
- Live streaming prices and charts
- Trade on the go and respond to market events and opportunities
- Monitor your positions at all times
- Fund or withdraw from your trading account via the secure app
The customer service team can give you a personalised guided tour of the platform by one of their experts if required. I actually found the app to be self-explanatory. The sleek modern layout made it a breeze to navigate. I didn’t have any problems viewing charts and conducting analysis using some of the built-in indicators. I would personally use the trading app more than the desktop platform as I often like to check my trades and don’t want to always start my laptop to do so.
Unfortunately, BUX Markets do not provide any additional standalone trading tools. However, the TradeHub platform has plenty of built-in tools that should meet the needs of most traders. I think it could be beneficial if they added had some extra tools such as calculators and analysis software to help you with your daily trading activities. Saxo Bank have plenty of tools at your disposal if this is something you look for in a broker.
This is an area in which they really shine. You will find an extensive range of helpful content including webinars, trading guides, glossary of terms, FAQs and tutorial videos. It is great that these can be accessed free of charge from the website. I like that they aim to make it as simple as possible for beginners to learn more about trading online. It shows that they care about you making informed trading decisions. You can also discover more about the brokers products and how they can benefit you. If you want a little more help along the way, CM Trading have an excellent library of educational materials.
BUX Markets have a good choice of CFDs for trading online via their intuitive platform. You can choose from thousands of assets including indices, FX currency pairs, cryptocurrencies, shares, commodities, ETFs, interest rates and bonds. This is a very diverse selection, up there with what some of the top brokers like IG offer. You will find all the major forex pairs, popular cryptos and stocks of the largest companies.
A contract for difference (CFD) is a derivative financial instrument enabling you to speculate on the financial markets without physical owning the underlying asset. A CFD acts an agreement between you and the provider (BUX Markets in this case) to exchange the difference in value between the opening and the closing level of a particular contract.
CFDs have no expiry date, meaning that you can decide when you want to close out your positions, at which point the difference in value will be exchanged, either for a profit or loss. CFDs can be traded with leverage which means that you can open a position larger than you would have been able to without it. However, trading with leverage comes with significant risks that you should have a clear understanding of before trading online with any broker.
BUX Markets have a normal trading account for retail traders and a pro trading account for those of you who qualify as professional traders. Just be aware that professional clients are not subject to some of the product intervention measures by ESMA. They are a market maker which means that the spreads are not the lowest you will find. You can have a look at XM Group if tight spreads are important to your trading strategy.
The broker can also provide demo trading accounts which allow you to practice trading online with virtual funds so that you can familiarise yourself with the trading platform and brokers service whilst testing out your trading strategies in a risk free environment.
BUX Markets are constantly striving to keep the total costs, including spreads, rollover costs and financing costs, as low as possible. They are committed to transparency with all of their costs.
There is a charge for overnight funding, normally at the rate of 2.5% p.a. plus relevant interbank rate. Positions that are open overnight are subject to funding charges on a daily basis. Positions held on a Friday will attract a 3-day financing charge/credit for the weekend.
Long positions attract financing charges, but for short positions, financial interest may be credited to your account. In the event that your trading account is inactive, you will be charged with an Inactivity Fee after 180 days.
I actually found the fees to be very low and in-line with what you can find from direct competitors such as Trading 212.
It is quick and easy to open a real live trading account with BUX Markets. There is a short online application form that requires you to enter some personal information. You will also need to provide a form of identification and proof of address as part of the KYC procedures. This can be a passport or drivers licenses and utility bill or bank statement. Once your account has been verified by the brokers accounts team, you can fund it and commence trading CFDs online.
The BUX Markets customer support team are available to answer all of your general, technical and account related questions. The client services team are available from 8:00 to 17:00 (UK time), Monday to Friday, by phone or email. The trading desk phone lines are open for trading enquiries between 22:15 Sunday and 22:15 Friday (UK time).
The broker has offices in London and Amsterdam. It would be beneficial if they could provide online chat support as I find this to be a more convenient way of asking questions prior to opening an account.
You will see that they have a limited choice of account funding options. You can only make deposits and withdrawals using credit/debit card and bank wire transfer. Most other brokers would provide some convenient online payment processors such as PayPal, Skrill and Neteller. Thus, I believe this is another area that they could improve in. If you want more choice when it comes to funding, easyMarkets have a better variety.
When making card payments, the name on the card must match the name on your trading account. Credit/debit card deposits are free of charge. Only cards that are issued outside of the EEA will be charged a 1.75% transaction fee. To help keep your money secure, BUX Markets only accepts card payments that are 3-D secure. If your card isn’t 3-D secure, the broker may not accept your deposit. Your card provider may charge you additional fees. BUX Markets have an internal policy not to accept 3rd party payments where it is able to identify such instances.
The broker uses 3-D Secure for added security. 3-D Secure was developed by Visa to help make internet payments more secure. It adds an extra security check for online payments, therefore decreasing the risk of internet fraud. This step is usually simply your bank or card provider asking you for a password, only known to you and your bank.
Wire transfers can be made in EUR, GBP, USD, SEK, DKK, SGD and CHF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. If you’re withdrawing money with a credit or debit card, funds will be debited from your trading account when they receive your request.
If you made your withdrawal request after 12:30 (GMT), they will be processed the following working day. Your funds will be processed within 5 working days. Whilst it is possible to make a withdrawal via bank wire transfer, debit/credit cards are the brokers preferred method.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I found BUX Markets to have a simple and efficient trading service that can serve for the basic needs of the average retail trader. The proprietary TradeHub platform is easy to use and has advanced charting capabilities. It allows you to enjoy a smooth trading experience on your desktop and mobile devices.
There is a generous selection of financial markets available to trade, including stocks, bonds, forex and cryptos. You can trade with competitive trading conditions that are comparable to some of the best broker you will find. There are some educational resources and a copy trading solution for those of you who wish to provide or follow trading signals. I also like that they are regulated as this gives me peace of mind.
Despite the positives, I found the funding options to be limited and also believe they would attract more clientele should they offer the popular MetaTrader platforms. Furthermore, the broker provides no additional trading tools and no online chat support.
That being said, they should be more than adequate for the average day trader. Institutional clients who would prefer to trade with an ECN rather than a market maker, may consider IC Markets as an alternative.