Bux Zero is a new online broker that opens its doors to the national market today. Spain will be the seventh European country in which it is present since its birth in January 2020 in the Netherlands.
Currently, it has 600,000 users in the Old Continent and aims to add nearly 200,000 in Spain by mid-2022.
The new investment platform for millennials is presented as a new Robinhood with the aim of reducing commissions to a minimum to democratize investment, a mantra with which the original was born on Wall Street, founded in 2013, although its popularization did not begin until a few years ago. years ago.
BUX Zero currently offers around 2,000 shares on the European and US market in addition to ETFs . In Spain, it has the shares of the 55 companies with the largest market capitalization. They are its three products at the moment, although before the end of the year it aspires to also have a catalog of cryptocurrencies. In terms of commissions, its policy is to invest at zero cost for those orders that are launched on the European market and whose execution occurs at the end of the session, that is, the investor does not decide the entry price or the moment. Otherwise, for market or limited orders (by price) the commission is 1 euro.
In the case of the American market, the operation has no cost , but the broker does apply a currency conversion fee of 0.25% on the nominal of the operation.
“The launch of BUX Zero in Spain marks a milestone in the race to offer a more accessible and intuitive investment experience for everyone. We believe that the profile of the investor does not matter if they have the appropriate advice and a platform that channels investment. buying and selling shares in a more affordable and simple way “, declares Yorick Naeff, CEO of BUX.
“Spaniards saved more than ever during the first year of the pandemic. The savings rate reached 14.8% of disposable income in 2020, the highest figure in the entire historical series. Confinement and restrictions on certain activities they made citizens accumulate forced savings, estimated at around 30,000 million euros. Now is a good time to make this money work, “adds Naeff.