Just came in via email, Bux is raising the prices of non-zero trades and introducing a service fee of €2.99 per month. What does the community think about this?
Personally I’m not interested in paying for a broker, and certainly not for a broker like Bux. To me it comes across as an act of desperation to raise more money. I intend to either transfer or sell my shares. Placing the responsibility for a failed business model on your customers in this way is just disrespectful.
Totally agree with you… what a sketchy move
This is terribly disappointing… i would be ok with this, if Bux as a broker would introduce improvements on a faster pace and become a more professional platform in general. But every new addition or improvement to the app takes months or years to complete and lately it feels like the team is completely abandoning the project and the community.
Wat een teleurstellende prijs wijzigingen. Het argument dat het aantrekkelijker wordt om met grote bedragen te beleggen is natuurlijk gek omdat het platform altijd is gepresenteerd als laagdrempelig. Voor het Platform wat Bux Zero biedt is 2.99 echt teveel en waarom niet meteen bewaargeld rekenen dan hebben we die pijn ook gehad. Ik ben meteen geen promotor meer van dit platform en overweeg mijn geld elders onder te brengen. Snel wat verkooporders plaatsen. De Giro is in dit geval aantrekkelijker als je voornamelijk in geselecteerde Etf’s wilt beleggen.
I understood that the €2.99 is a service fee you can pay as a premium user. What I’m missing is the real benefit for premium users. Like will the transaction cost go down? Or unlimited zero orders and free us trading? In that case the 2.99 would be fair.
There is no premium version of BUX. You have to pay 2,99€ per month to keep using the same functionalities. If you don’t have the money sitting in the app, you can go in negatives and after 12 months, BUX can basically end your account.
You can also check DEGIRO Ontdek de lage tarieven van DEGIRO this is their price list. I like there “kern selectie” for ETFS they have a super friendly price model.
Ah… I read again… that’s sad.
Interesting last paragraph in the email though.
Deze wijzigingen zullen op jou van toepassing zijn tenzij je BUX binnen 14 werkdagen schriftelijk informeert dat je niet akkoord gaat met de wijzigingen.
These changes will apply to you unless you inform BUX in writing within 14 working days that you do not agree with the changes.
Just sent an email to support-zero@getbux.com regarding this, lets see what happens.
Neen, met deze wijziging I’m done with Bux. Weet iemand hoe je je assets kan transferreren van bux naar een andere broker?
@ oxania
We do not offer the service to transfer your portfolio away from BUX Zero to another broker at this point.
Wat een bijzondere situatie. Waar betalen we straks 2.99 voor als veel dingen niet goed werken en het overzetten van een portefeuille naar een andere broker niet mogelijk is.
Ik heb de mail nog niet ontvangen. Dit is wel een tegenvaller. De belangrijkste reden om bij Bux te beleggen was de lage kosten. Dan heb je daarnaast de investering ronde die abrupt wordt stopgezet. En ik las dat Bux laatst een ontslagronde heeft gehad. Wat gebeurt allemaal bij Bux? Gaat alles wel goed?
Met deze servicefee ga ik zeker verkopen en volledig overstappen op IBKR en DEGIRO. De kosten van 2,99 per maand zijn simpelweg veel te hoog. Jammer, gemiste kans BUX.
Het goedkoopste is alles liquideren, transfereren naar je bankrekening en dan op je andere broker account plaatsen
It’s way to expensive, I do like BUX as a broker and they have a nice service team, but paying 3 euro’s and no zero orders (theoretically 3, but you already pay 3 euro’s so you basicly pay 1 euro per zero order) and then also every transaction thereafter is a fee. I do like BUX, I do understand the move but I think they also understand our point of view if we switch to brokers which are way cheaper. I personally am going to transfer everything to my other broker, trading 212 they are commission free and unlimited orders
It’s really sad… Something is wrong.
First, there was a partnership with BlackRock concerning the iShares ETFs, then, a crowdfunding which was cancelled without any clear reasons.
Like @FromHolland asks, is everything going well? I think somebody’s exerting influence. The question is: what is the next move?
Influence as in: they probably hired a “consultant” for 700 euro a day, or some other investment company is preparing a takeover. We had some Belgian companies with the same “cool vibe” attitude as Bux, such as Mobile Vikings (telecom) and Switch (Apple products), whom were suddenly acquired by a not-so-“cool vibe” company. The startups start with the best intentions and then see dollar signs. Switch was the worst, it was bought by an insurance company, and the salesmen, whom before were very passionate and engaging, were suddenly given quotas and direct instructions to target handicapped, elder and (sic) ‘autistic’ people, selling them useless insurances.
Wouldn’t be surprised if something similar would be happening…
I don’t think so. The ceo had an interview last year on BNR and they were already in doubts. They didn’t know if the would go IPO or do another fundinground and they were doubting if they were go for growth or profibility. And with the economic situation nowadays I am not surprised that they picked profibility. I would the same myself with those interest rates.
This sounds logical, I doubt how this will create profitability though. They are now more expensive than most competitors (even in the Netherlands like ING) without offering a web version, without analyst insights etc., without GTC limit orders, with limited reporting possibilities (no downloading transactions etc.), you name it. The small young investor with a small portfolio will surely run away, but I don’t really see how they are supposed to hold on to bigger investors either.