Fintech startups seeking regulatory approval in the UK have asked the Financial Conduct Authority to revamp its authorisation process to help keep London ahead of the game in financial technology innovation.
Amsterdam's international outlook means that its startups aspire to grow at home and abroad. With an above-average gross national income, an English-speaking community and 58 million passengers travelling through its airport every year, the city is a magnet for early-stage founders.
BUX, a mobile equity trading game broker and widely used app in the UK and Netherlands, has welcomed its 500,000th user, amidst an announcement that it will be expanding to Northern Europe and Belgium, per a BUX statement.
There have been countless services and apps that have come along promising to bring stocks and shares to the masses.
Most have failed painfully.
The challenge of simplifying something so complex in a format that most people can not only understand, but actually enjoy playing with, is a challenge too far for most.
Whether its stocks, commodities or currencies, mention the very idea of trading and you’ll find that most laymen run a mile. To those outside of the industry, the idea of trading is an incredibly daunting one and that’s no surprise considering how completely unapproachable it has been for so long. It’s hard to deny that the world of trading has been one reserved exclusively for those with big money to invest and the technical knowledge to utilise that money.
After adding 150,000 new users to 350,000 registered traders since September 2015, mobile equity trading game broker BUX has announced that it have closed $6.9 million in new financing. Led by Berlin/Munich based Holtzbrinck Ventures, the funding round is the third closed by BUX and its latest since raising $1.9 million from VC Initial Capital in September 2015. Like in its previous round, BUX expects to use the current funds to help it grow across Europe.
Trading app Bux scooped up a third investment of 6.1 million euro, led by German VC Holtzbrinck Ventures, in January, the fintech startup announced today. The money will be used to expand the team, to develop their social network even further and to gain traction in Germany.
More VC being thrown at casual trading startup Bux. The app, which turns stocks and derivatives trading (via CFDs) into a game-like and social experience, thus potentially broadening the market to include a greater number of people who have never traded before, has pulled in a further $6.9 million in funding.
It was Gordon Gekko, the iconic slimeball trader in Oliver Stone’s 1987 movie Wall Street, who first espoused the theory that greed is good. For a generation of high-flying bankers—giant mobile phone in one hand, stock portfolio in the other—those words became a mantra. For most of us, though, the reality of trading stocks felt utterly alien, an incomprehensible ticker tape of numbers that concerned vast corporations but had little to do with everyday life.
Dutch startup Bux is on a mission to open stock trading to a much larger market — namely, those who have never traded before. Its casual trading app for iOS and Android attempts to gamify trading (as if wasn’t gamified enough already) by letting traders start off with virtual currency before investing with real money, as well as compete with friends.
Less than one year after launch, Bux has reached 200.000 user and announces 1.7 million euro investment round. Lead investor is international investment fund Initial Capital.
As surprising as this might sound, FinTech might be your best bet if you want to make the world a better place today. Lower barriers to entry brought about by the digitisation of the world are forcing the financial services beast to take a new shape – one that puts a higher premium on giving their customers what they truly need, how they truly need it.
Tracker funds and passively managed ETFs are generally considered to be the cheapest and most effective way to gain exposure to the stock market. If only seeking access to UK equities, this is probably just about the case – with a Fidelity UK index tracker costing 0.09% a year, or £5.85 on a £6,500 investment.
The stock market has always been a place for thrill seekers and risk takers. Betting ones hard earned money in a game of high risk high reward. It has a universal appeal even most Marxist can't deny. The core mechanics of the stock market are often seen in games. But unlike games the stock market isn't as easy to get into. That's why BUX, a stock market app is such a nice service. It distilles the stock market to its core. It uses the social games template to create a compelling experience we can all learn from.
In a year when gamification has become a buzzword, the financial industry has not been left on the side from the ongoing trend of introducing more entertaining ways to engage user behavior and retain clients.
In the wake of recent scandals, millennials have become disillusioned with the finance industry. But with the emergence of gamification, stock market trading apps are beginning to revive young people’s interest in the industry.
Angry Birds. Candy Crush. BUX. Most smartphone users will know the first two gaming apps, but what about that last one? “We want you to play BUX while you’re riding the bus or waiting in line for lunch,” says Nick Bortot, the CEO of this brand new entry to the mobile gaming world.
Twenty-something consumers raised on video games such as Grand Theft Auto and Angry Birds are being wooed by financial trading apps, keen to build bridges with a post-crisis generation that is disinterested in financial services or plain mistrustful.
* Launch of BUX followed that of Kapitall, invstr
* Apps offer chance to convert virtual money to real money
* Global smartphone market: http://link.reuters.com/qaj42v
Twenty-something consumers raised on video games such as Grand Theft Auto and Angry Birds are being wooed by financial trading apps, keen to build bridges with a post-crisis generation that is uninterested in financial services or plain mistrustful.
Rapid-rising Transferwise, Nutmeg, Funding Circle, GoCardless and Osper are among the 27 UK fintech stars named in the European FinTech50 for 2015, announced in London this week. Toni Sekinah reports.
It’s time for another Top 7 apps post. This week we have Nick Bortot, CEO and co-founder of BUX.
BUX is an Amsterdam-based tech start-up that sets out to rock the global world of finance. With the BUX App everyone can experience the excitement of the stock exchange even if you don’t have tonnes of trading experience or wads of cash to spend.
Let’s take a look through his list…
Gameification is a philosophy that has risen to stardom over the past few years. The theory goes that by adding game-like elements to an activity such as exercise, chores, or in this case, stock trading increases engagement and provides a more educational experience. We got to sit down with Robbert Bos, chief product officer of BUX about gameification and how it can help your business.
BUX is a trading app which brings the fun back into finance. BUX makes trading extremely straightforward and more accessible than ever. With BUX people can experience the excitement of the stock exchange, even if they don't have much trading experience or aren’t fortunate enough to have a fat wallet in their back pocket.
Three reasons you should be watching BUX:
1. Its co-founder previously helped set up BlinckBank, a company with a market capitalization in 2013 of €574m
2. It’s trying to make stock market trading “as easy as going to the pub and as safe as driving a Volvo”
3. It’s a new addition to London’s superhot fintech scene – it just launched here.
The Wolf of Wall Street revealed the highs - and lows - a broker can have when playing the stock market.
But for many people, the idea of trading in stocks and shares is overwhelming, and reserved for a select few - until now.
A Netherlands-based app called Bux is hoping to ‘bring the fun back to finance’ by teaching people how to trade using virtual currency. And it even let’s people trade with their own money - when they’re ready.
Over the course of the day I've made just over 100 Bux and then managed to lose it all before regaining half before I go to bed. I've been playing Bux you see, a new app that taps into the world of day trading allowing you to play certain stocks to see just how good you are at the stock market.
At BUX, we are building a mobile only stock market trading app that aims to make it easy and fun for (non-experienced) users to start playing the markets. Users start off with our virtual currency funBUX and can build a portfolio in selected stocks, indices, commodities and currency from the U.S. and Europe. If a user wants to, he or she can upgrade their account to real money (seriousBUX).
Listen to founder of Pocket-lint Stuart Miles reviewing BUX on Monocle Radio, form 39 minutes onward:
"What’s fascinating is that most trading apps are really dull, very boring, but this app has turned trading into a fun game"
‘It’s global, you can trade with commodities, indices and it’s all with real data but it’s just a way to have fun with it and give yourself a head start’
Politicians’ pronouncements are often evasive but when George Osborne declared his hopes for the future of financial technology in Britain, he did not mince his words.
Forex Magnates reached out to Nick Bortot, CEO of BUX, for an exclusive perspective and interview regarding the firm’s unique stock trading app for users in both the UK and Netherlands. His full length interview can be read here.
This week in London, the search started for the 2015 FinTech 50 – the leading startups in the UK financial technology space. With the sector looking so hot, it’ll be fascinating to see which startups succeed in 2015. Julian Blake asked four fintech experts for their view – Todd Latham (The Currency Cloud), Nick Bortot (Bux), Adam Tavener (Clifton Asset Management) and Debu Purkayastha (Octopus Investments).
Nick Bortot has been appointed as the CEO of BUX, the recently launched gamified trading app for equities and other asset classes in both the United Kingdom and the Netherlands.
BUX was co-founded by Mr. Bortot, along with, Robbert Bos, Joost van de Wijgerd and Egbert Pronk – the Netherlands-based firm is funded by Orange Growth Capital. In his new role, Mr. Bortot will be responsible for expanding BUX’s influence in both the UK and the rest of Europe, as the company presently holds a European license.
BUX is a fun new app that will help you learn how to crack the stock market, then you can play it for real.
It was the biggest blockbuster of the year. And if watching Leonardo Di Caprio as the Wolf of Wall Street made you want to don a pin-striped suit, help could be at hand.
It comes in the form of a new smartphone app called Bux. This stock exchange in your pocket lets you play with real shares for fun, and even gives you help and advice on becoming a real-life city boy.