BUX Reliability & Safety
Before you start trading at BUX Zero, you probably want to know if this is a reliable broker. In this article we’ll explore why investing with BUX can be in your best interest.
Our research has shown that BUX Zero is reliable & safe. Use the button below to open an account with BUX Zero:
Why is BUX Zero reliable?
- BUX Zero is under the supervision of the AFM
- You cannot have a negative balance with BUX
- Customer funds are kept in separate accounts
- You are insured in the event of the broker’s bankruptcy
- All communication takes place via SSL technology
BUX Zero regulation
BUX is under supervision of the AFM and therefore has to adhere to all European rules and laws. When you get into trouble, you can easily file a complaint.
What happens in case of bankruptcy?
The funds you deposit will be stored in a separate ABN AMRO bank account. These funds fall under a separate foundation, namely the BUX Custody foundation. This prevents you from losing your funds if BUX goes bankrupt: creditors can’t access these accounts.
Is your money insured?
Your money is insured at BUX Zero to an amount of €100,000 under the deposit guarantee scheme. It is recommended to not keep more than €100,000 on your account.
Your investments are insured up to an amount of €20,000 by the Dutch Bank. However, it is unlikely that these guarantees will ever be needed: your assets are already held by a separate foundation.
Securities lending
BUX Zero participates in securities lending. They won’t always do this, but the possibility is included in the terms and conditions. By doing so, BUX can earn extra money with your investments. A benefit to this is that they don’t have to charge any service costs, which means holding an account with BUX is always free.
Lending out securities is almost never a problem: however, there is a small counterparty risk. I don’t expect BUX to lose the shares, as this would be terrible for their reputation. Nevertheless, it is wise to take this into account when you want to invest with BUX.
Safety BUX
Furthermore, it’s nice to know that BUX implements proactive monitoring: they constantly update their security and the high level of encryption makes it difficult for hackers to access your account.
It is a pity that you can’t use 2FA with BUX. You log in at BUX with a username and a 5-digit code. Therefore, choose a code that is hard to guess to prevent third-parties from accessing your account.
And in case of issues or complaints?
In the unlikely event that something goes wrong, you can easily contact BUX’s customer service within the application. You can either use the live chat or call them to make a complaint. The customer service usually responds quickly, so your problems can be solved rapidly.
If you can’t work things out with BUX, you can always start an official complaints’ procedure, since BUX is supervised by the AFM.
Conclusion reliability BUX Zero
BUX is a reliable broker where you can invest your money with confidence. Your assets are safe, and your money is stored according to the latest guidelines that apply within the European Union.
Although BUX is a reliable broker, it is important to remember that investing is always a risky activity. You can lose money with your investments.
