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Bux CFD Trading App Review | Mobile CFD Investing Platform - YouTube
Channel: FBE Capital
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Hi and elcome to Finance and Banking
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Explained today we have a look at the
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BUX CFD
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trading app for those of you who don't
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know what cfds are these are a contract
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for difference
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and they allow you to trade on the rise
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and fall of an
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underlying asset such as stocks or
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currencies and in a separate video i'll
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go more into depth on
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what cfds are and how to trade them so
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what is BUX
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BUX is a fully mobile cfd trading
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platform where you can start trading
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cfds for as little as 50 euros or
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jump right in with larger amounts on the
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BUX cfd trading app you can trade the
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major indices such as
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u.s tech uk 100 hong kong 50 and many
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more
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next to this the app lets you trade most
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major european and u.s stocks
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and about 20 currency pairs brooks has
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slowly been expanding their available
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cryptocurrencies
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and these now include bitcoin bitcoin
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cash ethereum
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litecoin and ripple so overall they have
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a quite decent selection of
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assets that you can trade on however for
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any active trader you might find it
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lacking some variety
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especially when it comes to newer stocks
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they take some time to be added to the
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platform
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when it comes to functionality the books
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app has really been designed with
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usability in mind
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it feels quite intuitive and is easy to
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use you just place an order by selecting
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up or down
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then scroll to the amount you want to
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invest and then you scroll to the
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leverage you want to use
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this gives you a really good overview of
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how much capital you're actually risking
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unlike in some other cfd trading apps
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now the main area where the app is
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lacking is the ability to examine the
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chart of an online asset
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you can only select one day five days or
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one month
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and highlighting a particular area is
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not possible with other cfd brokers you
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can look at the chart in much more
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detail
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and even add some technical indicators
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in the app those other burgers also give
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you access to a desktop version where
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you can perform
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more technical analysis and look at the
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chart in more detail
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next it is the book see if the app also
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lacks the ability to create watch lists
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you get just one watch list called
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favorites where everything is placed
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and deleting items from this list is a
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bit cumbersome
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another minor inconvenience of the books
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app is the ability to place a stop loss
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or a take profit order
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while you're placing a buy or sell order
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this has to be done after you've placed
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your order
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and i suspect this was deliberately
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designed this way to keep everything
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nice and simple this shouldn't be much
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of a problem however it can lead to you
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forgetting to place the stop
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loss or take profit order before we move
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on to depositing and withdrawals please
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like and subscribe to the channel for
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more finance and banking information
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depositing and withdrawing funds in the
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books app you can deposit with ideal
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credit card or wire transfer
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the minimum amount is 50 euros and there
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is no minimum withdrawal
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depositing through ideal or credit card
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will be instant
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and the bank transfer will take about
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two to five business days to be
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completed there are no deposit overdraw
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fees if you transfer
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from within the eu for transactions from
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outside eu
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you will incur a transaction fee
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examining the book's cfd trading fees
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when trading cvds on the books app there
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are two types of fees
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the first is the initial fee for opening
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the position which is also applied when
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you close the position
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and the second is the financing fee for
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each day that you use a leverage on the
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order
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so if you place a 1 000 apple order with
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a four time leverage your order will be
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4 000 euros
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and thus you will pay 640 for opening
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and 640 for closing the position
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this 12.8 is then 1.28 percent
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and becomes quite significant when
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trading with smaller amounts
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so let's say you're placing a 100 euro
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order with a four times leverage
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this then becomes 400 euros and you will
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incur 1.6 euros in opening and closing
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fees
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which is a 1.6 percent so if you are
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making 10
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profit on your trade 16 of that will go
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to fees
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this means that if you're making a lot
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of trades you'll be handing a lot of
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your profit over to the broker
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is the box trading account safe so the
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books app is owned by bux financial
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services limited which is a private
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limited company registered in the uk
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they are regulated by the financial
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conduct authority or fca for short
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so they will have to comply with all
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their rules and regulations
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they also have to regularly file the
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status of their accounts
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and the directors in charge of them in
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addition to this being regulated by the
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fca means that your account
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on the books app is covered by the fscs
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and this covers all accounts
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up to 85 000 pounds if the company were
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to become insolvent
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so to sum up the book cfd trading app is
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a very user friendly and easy to use app
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that allows you to quickly place an
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order on your mobile phone
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the lack of chart evaluation option
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makes it hard to make any sensible
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predictions
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on asset movements which indicates that
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they just want you to place an order and
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not worry too much about actually making
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a well thought out order
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now of course see if these are
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inherently difficult to trade
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successfully however trading them on
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this particular platform makes that even
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more difficult
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so you would need a third party platform
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to analyze the charge to be able to make
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any sensible predictions
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in addition to this the fees that they
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use are quite steep so you will see a
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large percentage of your profits go to
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the broker
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on the plus side they are heavily
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regulated and backed by the fscs
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so technically you should never have to
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worry about losing the money in your
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account
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this is of course as long as it doesn't
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surpass the 85 000 pound
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this completes the book cfd trading
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review please like and subscribe to the
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channel for more finance and banking
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information
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take care
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