On Monday, European commission-regulated brokerage firm BUX announced rebranding its CFDs trading platform to Stryk, primarily to differentiate its distinct services. The move came after BUX aggressively expanded the reach of both its zero-fee training app and CFDs platform.
The CFDs platform, launched in 2014, was very similar to the company’s zero-fee trading app, BUX Zero. The company clarified that the CFDs platform was suitable for short-term investors, whereas BUX Zero is for medium to long-term investors looking to build an investment portfolio.
According to BUX’s CEO, Yorick Naeff, the company has two types of products in its portfolio: trading products like CFDs more suitable for active and short-term investors; and investment products like the BUX Zero app designed for long-term investors.
Expanding Presence in Europe
Earlier this year, BUX acquired a Cypriot license for its CFDs platform, ensuring that the firm continues to operate in the European Economic Area (EEA) continue even after Brexit.
The firm even appointed Jean-Raphael Nahas as Europe president of BUX Financials. The CFDs provider is now accessible in 13 European countries.
“We’re relaunching our successful CFD trading app, which has been used by over 2 million users in Europe and the UK since 2014, with Stryk,” said Salim Sebbata, BUX Financial Services CEO of its CFDs unit in the UK. “With a fresh new look and recently acquired Cypriot trading license, we’re confident that Stryk will provide an even better experience for our short-term investors.”