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Contract reading

What BUX Markets legally published, but does not want you to read

Every clause below is published by BUX Markets itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: BUX B.V.

bank termsconflict of interestdeemed acceptancelimitation of liabilitysole discretionaccount closureaccount freezeassignmentbonus lockclient assets

BUX B.V. is a Dutch broker supervised by the AFM and owned by ABN AMRO, and your cash sits at a bank in your name.
You cannot move your shares to another broker, so leaving BUX means selling everything.
Fees keep running when your cash runs out, and BUX can sell your shares to collect them.
If shares go missing and BUX cannot blame a particular client, every holder of that share takes part of the loss, even after a BUX error.

Back to BUX Markets

Contract risk

Harder than average
4.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
1
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
19
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
17
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 19 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical1
Warning10
Notice8

section 24 of 34is where the deepest clause sits, 71% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

32.5%In the contract. Jump to the clause this comes from.Stock lending: most income to BUX, the risk to you$10Account limit. Jump to the clause this comes from.You give up shareholder rights, and voting costs €10

What the documents say

19 clauses worth knowing about, worst first, each quoted from BUX Markets's own files

01

If shares or cash go missing from the pool BUX holds for all its clients, you can end up carrying part of the loss. BUX's contract does this even when BUX itself made the mistake.

Why this matters

Your holding can shrink through no fault of yours whenever BUX cannot trace a shortfall to a particular client. BUX pays for losses only when it was grossly negligent, deliberately at fault or fraudulent, so an ordinary mistake can stay with you.

Exhibit 2CriticalHarder than usual

Despite these endeavours, it may occur that there is a deficit in money in a certain currency or in a certain Financial Instrument (Deficit), which BUX Custody holds for the Clients, for example caused by an error of BUX Custody or BUX. BUX may refuse Orders until the moment BUX is able to allocate the Deficit.
Clause 5.2 in Client Agreement, p.13
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA that hold client investments must reconcile them regularly and cover any shortfall they caused from their own money. This contract names a BUX error as one cause of a shortfall and still spreads the loss across clients.

BUX Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 9BUX's wider liability exclusions mean a shortfall spread under clause 5.2 leaves you little to claim back.
  • Worse together with Exhibit 8A shortfall spread across clients shows up in your statements, and six weeks of silence counts as accepting them.
02

BUX will not transfer your shares to another broker, although it accepts portfolios coming in. To leave, you must sell every position first, and fractional shares cannot leave BUX in any form.

Why this matters

Leaving BUX means selling everything at that day's prices and paying a sell commission on each position. You cannot wait out a bad market at another broker.

Exhibit 1WarningRarely seen

BUX does not offer the possibility to receive or transfer assets to a different party where You also have an account.
Clause 3 in Product Information Sheets, p.5
Read from the broker's site on Open the reference

What it costsClosing out 10 European share positions on BUX Basic takes 10 sell orders at up to €3.99 each, so up to €39.90 in commissions.

Our readingA securities account normally lets you move your shares to another custodian, often for a fee. Here the only exit is a sale, so every exit, including one BUX starts, turns your portfolio into cash.

  • Worse together with Exhibit 12BUX can close the account for any reason on 14 days' notice, and because your shares cannot leave, that notice ends in a sale.
03

When your cash cannot cover BUX's fees, they pile up as Unpaid Fees, a debt that any incoming money pays first. After six months of debt, BUX may close the account and sell your shares to collect.

Why this matters

An account you forgot about can quietly run up a bill, and you must pay whatever your cash and shares do not cover. BUX can also charge the bank account or card you linked.

Exhibit 3WarningHarder than usual

The Fees are deducted from your Available Cash. If there is not sufficient Available Cash to deduct the Fees, this results in Unpaid Fees.
Clause 26.6.2 in Client Agreement, p.26
Read from the broker's site on Archived copyOpen the reference

What it costsA BUX Prime account left with no cash still runs up €7.99 a month. On an empty account the debt can reach 12 months of fees, €95.88, which BUX can ask you to pay.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Each monthBUX takes the monthly and variable service fees from your cash.26.6.1
Cash runs outFees BUX cannot take become Unpaid Fees, a debt that keeps growing.26.6.2
6 consecutive monthsWith any Unpaid Fees still owed, BUX may close the account at its own discretion.26.6.7
30 days at the capOnce the debt hits its cap and stays there, BUX may close the account.26.6.5
After closureBUX can sell your shares to pay the debt, and you pay any rest on first request.14.2
  • Worse together with Exhibit 1When unpaid fees lead BUX to close the account, your shares cannot go to another broker, so they are sold.
04

With stock lending switched on under BUX Basic or Plus, you get 32.5% of what borrowers pay, and BUX and its agents keep the rest. If a borrower fails before collateral arrives, you may not get all your shares back.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

Your lent shares leave the protected custody structure, and the handbook says you then have no claim against BUX if they are lost. BUX can also act as the other side of your lending deal.

Exhibit 4WarningHarder than usual32.5%

In this specific situation it is unlikely that you will receive back all of your Financial Instruments. You will not have any recourse against BUX in connection with the Lent Financial Instruments.
Quoted in Stock Lending Handbook, p.6
Read from the broker's site on Open the reference

Buried at section 24 of 34 in the Stock Lending Handbook, 71% of the way through.

What it costsOf every €100 a borrower pays to borrow your shares, a BUX Basic or Plus client receives €32.50 and a Prime client €45.50.

05

In Spanish, BUX's homepage title and search description promise commission-free investing in shares and ETFs. Its own price list charges you up to €3.99 per market order on the basic account, plus a 0.75% markup on US shares.

Why this matters

Only Investment Plan purchases and the few free Zero Orders in paid accounts carry no commission. On BUX Basic, every sale costs a commission.

Exhibit 5Warning$3.99

Commissions up to €3,99 per order
Quoted in Affordable investing for any budget
Read from the broker's site on Open the reference
Our own capture of bux.com, taken on Oct 23, 2026The claim, on Search description and social-media title of the Spanish homepageThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of bux.com, taken on Oct 23, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

What it costsBuying €1,000 of US shares by market order on BUX Basic costs up to €3.99 in commission plus €7.50 in currency markup at 0.75%.

The bank behind BUX has charges of its own

BUX B.V.'s price list shows deposits and withdrawals at €0, but ABN AMRO Clearing Bank's contract adds charges the list never mentions. The bank can charge for closing within the first 12 months, for blocking an account and for investigating it. It can change those costs at any time.

Costs outside the price list1 clause flagged

ABN AMRO Clearing Bank, which holds your cash, can charge you for closing within your first 12 months, for blocking your account and for investigating it. None of these charges appears on BUX's pricing page.

Why this matters

The bank can set and change these amounts at any time, so you cannot know in advance what leaving early will cost. BUX's own price list shows deposits and withdrawals as free.

Exhibit 7WarningHarder than usual

If you terminate the Contract within twelve months after entering into the Contract, the Bank will be entitled to make a charge in connection with the termination based on the level of cost actually incurred.
Clause 20.6 in CTA Customer Contract, p.21
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must tell a retail client the total costs and charges of an investment service, including third-party charges, before providing it. Here the bank's charges appear only in the bank's contract, and BUX's price list leaves them out.

BUX Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

The bank can freeze your cash on its own internal grounds

BUX B.V. withdrawals are free and arrive in your own bank account within five working days at most. The cash itself sits at ABN AMRO Clearing Bank, which can block it under its internal procedures. Where the bank judges that telling you is unsafe or unlawful, it may never say why.

Access to your cash1 clause flagged

Your cash sits at ABN AMRO Clearing Bank, whose contract lets it block your account on grounds as broad as its own internal procedures. Where telling you could harm security or break the law, it may tell you later or not at all.

Why this matters

While the block lasts you cannot reach your money, and the contract sets no time limit. If the bank decides the block is permanent, it sends your cash to the bank account you registered.

Exhibit 6WarningHarder than usual

In addition to the grounds for blocking the CTA set out in article 13, the Bank may block the CTA on the following grounds:
Clause 15.1 in CTA Customer Contract, p.17
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 7The bank that can block your cash account can also charge you a fee for the block.

Every exit from BUX ends in a sale

On 14 days' notice, BUX B.V. can close your account for any reason or change its terms. Every exit ends in a sale, because BUX does not transfer portfolios to other brokers and fractional shares never move. BUX also decides corporate actions, signing shares up for takeover offers by default.

Exit and control3 clauses flagged

By signing, you waive your right to act on corporate events such as takeover bids, and BUX decides what happens instead. By default it signs your shares up for a takeover offer, and joining a shareholder meeting costs €10.

Why this matters

BUX has no duty to tell you about a corporate event, even when it knows. Where you have not set preferences in the app, BUX's defaults decide what happens to your shares.

Exhibit 10WarningHarder than usual$10

You hereby: (i) acknowledge and agree that We will have no duty to inform You of any Corporate Action, even if We become aware thereof, (ii) irrevocably waive Your right to exercise any Corporate Action that may be exercised by the holder of the shares that You beneficially own through our Service, and (iii) agree that We may in Our own discretion act on those Corporate Actions as We see fit (which may include - amongst others but not limited to - not to take any action at all).
Clause 13.1 in Client Agreement, p.18
Read from the broker's site on Archived copyOpen the reference

BUX can end your account on 14 days' written notice for any reason it chooses. Its listed grounds even include you starting a court case against it, and the notice can be a post on its website.

Why this matters

Because your shares cannot move to another broker, a closure leaves you only one way out: selling. Starting a court case against BUX gives it a stated reason to close your account.

Exhibit 12NoticeStandard wording14 days

BUX can close Your Account(s) or terminate the Client Agreement by giving You at least 14 days’ notice in writing (subject as mentioned below) if:
Clause 14.1 in Client Agreement, p.18
Read from the broker's site on Archived copyOpen the reference

BUX can change its terms by telling you 14 days ahead, and if you do not object in writing, the changes apply to you. It can also change its fees from time to time, and the contract sets no notice period for that.

Why this matters

Your only answer to a change you dislike is to close the account, and closing means selling. The bank that holds your cash must give you two months' notice of its own changes.

Exhibit 13NoticeStandard wording14 days

(b) these changes will be applicable to You unless You inform BUX in writing not to agree with those changes within fourteen (14) days after BUX has communicated the changes to You.
Clause 2.5.2 in Client Agreement, p.11
Read from the broker's site on Archived copyOpen the reference

Six weeks to object, and little to claim if BUX errs

BUX B.V. gives you six weeks to object to a trade overview or annual statement before your silence counts as approval. Its contract lets BUX reverse errors that benefit you while excluding its liability, even for direct losses, from errors, outages and unauthorised access.

Challenging a mistake2 clauses flagged

You have six weeks from receiving a trade overview or annual statement to object, and after that BUX treats your silence as approval. The balance that legally counts is the bank's own record, which you never see directly.

Why this matters

A wrong entry you spot late can become one BUX treats as accepted. BUX's records count as evidence, and it shares them with you at its own discretion.

Exhibit 8WarningStandard wording

If you believe that the Trade overview is incorrect, you must tell us immediately but no later than 6 weeks upon receipt. Failure to make objections within the aforementioned period of 6 weeks shall be deemed to be your approval and acceptance of the Trade overview.
Clause 11.4 in Client Agreement, p.17
Read from the broker's site on Archived copyOpen the reference

When an obvious error shows up on your account, BUX can correct it and take back anything you gained. If the same kind of error costs you money, the contract excludes BUX's liability, even for direct losses.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

The contract leaves you to carry losses from BUX's mistakes, outages and even someone else getting into your account. The exclusion reaches direct losses as well as knock-on ones.

Exhibit 9WarningHarder than usual

If you have benefitted from such an error, BUX may settle the balance in Your account to rectify the error.
Clause 5.3 in Client Agreement, p.13
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA may not use client terms to exclude or restrict any duty or liability they owe clients under the regulatory system. This contract excludes BUX's liability for direct losses from its errors, outages and unauthorised access to your account.

BUX Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

BUX's partners earn on your shares, trades and plans

BUX Basic and Plus clients receive 32.5% of what borrowers pay to borrow their shares, while the lending risk stays with them. ABN AMRO Clearing Bank, in BUX B.V.'s own group, holds client cash, executes orders and may act as the client's counterparty despite a conflict. BUX Prime's J.P. Morgan model portfolios appear in no BUX document at all.

Who earns from your account2 clauses flagged

BUX belongs to ABN AMRO, whose clearing bank holds your cash, executes your orders and takes the other side of your fractional trades. Its contract lets it act as your counterparty even where there is a conflict of interest.

Why this matters

The place in the bank's contract where its conflicts policy should be summarised still holds an unfilled template line. BUX's only published execution report covers 2022 and says BUX has no close links to the venues it uses.

Exhibit 11WarningStandard wording

We are also authorised to act as your counterparty, even if there is a conflict of interest.
Clause 1 in CTA Customer Contract, p.3
Read from the broker's site on Archived copyOpen the reference

BUX Prime sells model portfolios that J.P. Morgan Asset Management builds from its own actively managed ETFs. None of the 15 English documents mentions these plans, J.P. Morgan's role, or whether anyone pays BUX for offering them.

Why this matters

A fund manager choosing its own funds earns their yearly charges, and the target returns BUX shows leave out all fees. BUX's conflicts summary promises to disclose a conflict before doing business but says nothing about this one.

Exhibit 17Notice

receives or will receive from a person other than the client an inducement in relation to a service provided to the client, in the form of monetary or non-monetary benefits or services.
Quoted in Summary of Conflicts of Interest policy
Read from the broker's site on Open the reference

Commission-free in Spanish, interest for everyone in English: neither holds

BUX B.V. promises commission-free investing in its Spanish homepage title, while its price list charges up to €3.99 per order on the basic account. Its interest page says every customer earns interest, yet BUX Basic pays 0% and the bank can change any rate at any time.

Claims against contract1 clause flagged

BUX's interest page says every customer earns interest on uninvested cash. Its own documents say the rate depends on your account type and can be 0%, and BUX Basic pays none.

Why this matters

ABN AMRO Clearing Bank sets the rate and can change it at any time, even below zero. BUX's own pages quote different rates for the same account, 1.75% in one place and 1.50% in another.

Exhibit 16Notice

The applicable interest rate is dependent on the Account Type that you have chosen. This can also mean that the applicable interest rate is 0%.
Clause 8 in Product Information Sheets, p.18
Read from the broker's site on Open the reference

What it costsOn €10,000 of uninvested cash, BUX Plus at 1.75% pays €175 a year, while BUX Basic at 0% pays nothing.

BUX keeps the final say over promotion rewards

BUX B.V.'s €50 Dutch start bonus has short, fair terms, but its general promotion terms let BUX withhold rewards when it sees irregular patterns. The bonus page also says the offer combines with a referral programme that BUX's contract and referral page say has ended.

Promotions1 clause flagged

BUX can withhold a promotion reward if it sees irregular patterns, and it decides alone when you may cash out a free share. Its Dutch €50 bonus page promises a referral programme that its own contract says has ended.

Why this matters

If you join through a friend's invitation expecting a referral reward, BUX's contract says that programme no longer exists. Under clause 10.3, BUX can refuse profits from promotion trades it considers placed in an illogical manner.

Exhibit 15NoticeStandard wording

BUX reserves the right to withhold any rewards for which a participating user is selected if BUX is of the opinion that the spirit of This Promotion is being abused or that irregular patterns are being observed.
Clause Appendix 3, item 20 in Client Agreement, p.36
Read from the broker's site on Archived copyOpen the reference

Amsterdam courts for you, a wider choice for the bank

BUX B.V.'s contract and the bank's contract both put disputes before the courts in Amsterdam under Dutch law. The bank keeps the right to sue a client in any court with jurisdiction over them. Complaints about BUX can also go to Kifid, the Dutch financial complaints body.

Where disputes go1 clause flagged

Both contracts send your disputes to the courts in Amsterdam under Dutch law. The bank keeps the right to sue you in any court that has jurisdiction over you, and BUX can hand its rights to any third party.

Why this matters

A complaint about your cash goes to the bank, which will not pass it to BUX, and the English bank contract names an Irish ombudsman. Complaints about BUX itself go to Kifid, the Dutch financial complaints body.

Exhibit 18NoticeStandard wording

This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with, Dutch law, and the parties irrevocably submit to the exclusive jurisdiction of the courts competent in Amsterdam, The Netherlands.
Clause 32.1 in Client Agreement, p.28
Read from the broker's site on Archived copyOpen the reference

Two BUX documents disagree on marketing with your data

BUX B.V.'s client agreement lets it pass your details to group companies, which now include ABN AMRO, for their own marketing. Its privacy notice says BUX markets only its own products and shares contact details with no third party for marketing.

Your data1 clause flagged

Your client agreement lets BUX pass your details to group companies, now including ABN AMRO, to market their own products to you. The privacy notice says BUX markets only its own products and gives your contact details to no third party for marketing.

Why this matters

You cannot tell from the documents which promise BUX follows. The agreement also treats 30 days of continued app use after a notice as your consent to new uses of your data.

Exhibit 14NoticeStandard wording

BUX will also be entitled to pass Your Information to its Associated Companies which will also be entitled to use Your Information in the same way in relation to their products/services.
Clause 21.9 in Client Agreement, p.23
Read from the broker's site on Archived copyOpen the reference

A Dutch investment firm owned by ABN AMRO, under Dutch protection limits

The Dutch deposit guarantee covers up to €100,000 of your cash once it reaches ABN AMRO Clearing Bank. The Dutch investor scheme covers up to €20,000 of investments if BUX B.V. fails. BUX B.V. is an Amsterdam investment firm supervised by the Dutch AFM and owned by ABN AMRO Bank.

Who you deal with1 clause flagged

You contract with BUX B.V. in Amsterdam, under the Dutch AFM, not with a UK or Vanuatu company. The Dutch deposit guarantee covers your cash up to €100,000 once it reaches the bank. A Dutch scheme covers your investments up to €20,000 if BUX fails.

Why this matters

The deposit guarantee does not cover money still on its way to the bank, which can take up to three business days after a deposit. Shares you have lent out leave the protected structure while on loan.

Exhibit 19Notice

BUX B.V. is authorised as an investment firm and supervised as such by the Dutch Authority for the Financial Markets (AFM).
Quoted in Client Agreement, p.1
Read from the broker's site on Archived copyOpen the reference
Our own capture of bux.com, taken on Oct 23, 2026The claim, on Interest on uninvested cash page, section Invest with confidenceVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK)

Clients of a firm licensed by the FCA are covered up to £85,000 if the firm fails and cannot return their investments. The Dutch investor compensation scheme named in this contract covers up to €20,000.

BUX Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The security page says your cash and investments are safeguarded, while the contract spreads any shortfall it cannot trace to a particular client across every client holding that share.

Said in public, in English

In the unlikely event of bankruptcy, asset segregation makes investments fall outside of seizure. So your cash and investments are safeguarded, giving you added peace of mind.

Security page, section How we protect your assets

In the contract · clause 5.2

In case BUX will not be able to determine that the Deficit is caused by one or more specific Clients, BUX will allocate the Deficit to all Clients for whose Account such specific currency and or Financial Instrument (same ISIN) is or should be held, pro rata.

02

The page says collateral buys back your shares if anything goes wrong, while the handbook says a borrower failing before collateral arrives can cost you shares, with no claim against BUX.

Said in public, in English

To keep your stocks safe and sound, borrowers provide extra collateral that’s worth more than the loan. If anything goes wrong, this collateral steps in to buy back your shares.

Stock lending page, section How does it work

In the contract

In this specific situation it is unlikely that you will receive back all of your Financial Instruments. You will not have any recourse against BUX in connection with the Lent Financial Instruments.

03

The Dutch bonus page says the offer combines with BUX's friends programme and points to its terms, which sit under a banner saying the referral programme has ended.

Said in public, in Dutch

Deze actie kan worden gecombineerd met het vriendenprogramma van BUX.

Word for word in English: This promotion can be combined with BUX's friends programme.

Terms of the €50 start bonus on the Dutch promotion page

In the contract · clause Appendix 3

- HET REFERRAL PROGRAMMA IS BEËINDIGD -

04

The Spanish homepage promises commission-free share buying, while BUX's price list charges up to €3.99 per market order on its basic account.

Said in public, in Spanish

Compra acciones y ETF sin comisiones, en una app intuitiva y segura.

Word for word in English: Buy shares and ETFs without commissions, in an intuitive and secure app.

Search description and social-media title of the Spanish homepage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of bux.com

In the contract

Commissions up to €3,99 per order

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of bux.com

05

The interest page says every customer earns interest, while the Product Information Sheet says the rate depends on account type and can be 0%, as on BUX Basic.

Said in public, in English

Every BUX customer earns interest on uninvested cash. All balances up to €100,000 are eligible.

Interest on uninvested cash page, section Deposit

In the contract · clause 8

The applicable interest rate is dependent on the Account Type that you have chosen. This can also mean that the applicable interest rate is 0%.

06

The interest page calls your entire cash balance protected, while the client agreement excludes money still on its way to the bank, which can take up to three business days.

Said in public, in English

Your entire cash balance is protected up to €100,000 under the conditions of the DGS.

Interest on uninvested cash page, section Invest with confidence

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of bux.com

In the contract · clause 17.1

Money administered in Your Cash Trading Account (which does not include money in transit) up to EUR 100.000 is protected under the DGS

What changed quietly

No changes are listed yet, because BUX's documents have not been reviewed before.

  • ADDEDClause Appendix 3 · 01-07-2025 (December 2025 copy) to 01-07-2025

    BUX marked its referral programme as ended without changing the agreement's version date, and the old referral terms are still printed underneath.

    - THE REFERRAL PROGRAMME HAS BEEN DISCONTINUED -

  • REMOVEDClause 1 · 01-07-2025 (December 2025 copy) to 01-07-2025

    BUX deleted its defined term for interest on your cash, a term the agreement used nowhere else, so the agreement makes no promise about interest either way.

  • REWRITTENClause 5 · 10-13-2025 to 04-08-2025

    The current sheet says an Investment Plan can only buy, so selling plan positions takes ordinary orders, which carry BUX's normal commissions.

    It must be noted that the Investment Plan is solely applicable for the acquisition of Stocks and ETFs, and the Investment Plan cannot be used to sell the positions clients have acquired through the functionality.

The documents this reading is based on

17 files, all published by BUX Markets. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording BUX Markets publishes.

How this reading was done

Every clause above was read out of a document BUX Markets publishes itself

This reading was published on .

Documents
16 of 17downloaded from the broker's site, and 16 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
7public pages set against what the contract says
Languages
EN vs ES vs NLthe language it advertises in, against the language it contracts in
Position measured
1clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

BUX B.V.

You contract with BUX B.V., registered in Amsterdam under Chamber of Commerce number 58403949 and supervised as an investment firm by the Dutch AFM. Your cash sits in a Cash Trading Account in your name at ABN AMRO Clearing Bank N.V., under a separate contract with that bank. Your shares sit with Stichting BUX Custody, a foundation whose only purpose is holding client assets. BUX B.V. is a wholly owned subsidiary of ABN AMRO Bank N.V. None of the 15 English documents mentions BUX Financial Services Limited or any UK or Vanuatu licence, and buxmarkets.com and buxmarkets.xyz lead to no website today.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Your cash sits in an account in your own name at ABN AMRO Clearing Bank, covered by the Dutch deposit guarantee up to €100,000. Stichting BUX Custody holds your shares, outside BUX's bankruptcy estate. Deposits and withdrawals are free, and withdrawals go only to your own EU bank account, within five working days. Complaints can go to Kifid, an independent Dutch body, and BUX commits to acknowledging yours within five business days. Stock lending happens only if you switch it on, and BUX pays its staff no performance-related bonuses. The Dutch €50 start bonus has short, plain terms, and a falling market cannot cost you the bonus. The risk disclosure explains fractional shares, crypto products, stock lending and extended trading hours in plain terms.

This review covers all 15 English documents in full. ABN AMRO Clearing Bank's contract is an English translation, and its Dutch original prevails. The review does not cover the contract in other languages, apart from parts of the Dutch client agreement: its referral banner and its termination, fee and statement clauses, which match the English. The review compares eight older copies of these documents. Six are unchanged. The client agreement changed in two places without a new version date, and the Product Information Sheet changed. Today's Product Information Sheet is dated 04-08-2025, while the copy online in December 2025 was dated 10-13-2025, so its version labels cannot tell you which text is newer. The two copies differ in six sentences. No earlier copy of the other seven documents was available for comparison. The Product Information Sheet says BUX neither receives nor transfers assets, but BUX's website and help centre show it now accepts transfers in, and the help centre confirms it does not transfer portfolios out. The Spanish commission-free claim sits in the title and search description of bux.com/es/, not in its visible text. The two other web addresses listed for this brand, buxmarkets.com and buxmarkets.xyz, lead to no website today. The review does not cover the BUX app, where fees, interest and offers also appear.

How to check any of this yourself

Every quote above links to the BUX Markets file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document BUX Markets publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge BUX Markets on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 23, 2026.

If you represent BUX Markets and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on BUX Markets. Whether its licence is real and current is a separate check on the broker profile.

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