European neobroker BUX today revealed it has rebranded its derivatives trading app from BUX X to Stryk.
This rebrand aims to differentiate Stryk and BUX Zero along with the customer groups they provide services to. While Stryk users focus on leveraged products trading at a more frequent and flexible pace, with access to inbuilt social channels in the app, BUX Zero users, are looking to build wealth over the mid to long term, investing in a wide range of asset classes including stocks, ETFs, and crypto.
Salim Sebbata, CEO at Stryk, commented:
Salim Sebbata
With Stryk, we are relaunching our successful CFD trading app, that has been used by over 2 million users in Europe and the UK, since 2014. With a new design and recently acquired regulatory licences, we are expanding our footprint in Europe and offering more clients an easy and exciting way to trade CFDs – all with the support of the in-app community, social trading features, and daily news localised for all markets.
In addition, Stryk is expanding across Europe. The trading platform is now available in 13 countries with recently entering the markets of Finland, Luxembourg, Slovenia, and Portugal. According to the official press release, the company aims to position Stryk as a Pan-European platform for traders to share knowledge, experience, and strategies.
Yorick Naeff, CEO at BUX, added:
BUX X was launched in 2014 as a platform to trade CFDs. Year after year, it has continued to evolve and now the next iteration is ‘Stryk’. With these two brands we aim to differentiate between two types of investors: those in it for the long term can choose BUX Zero, and those trading for the short term can continue to use all of the functions loved in BUX X, but now with Stryk. While we are diverging the brands, BUX will still be able to cater to the needs of our clients across Europe, whatever their financial goals are.
The new brand of Stryk
The newly re-designed app will maintain BUX X’s blue colour. All the other colours such as red, green, purple, and orange have been removed to create a clean, professional look. The company highlighted that the the diagonal lines in Stryk’s new logo represent the active markets. In a similar way, the app icon displays “up and down” arrows, illustrating the core nature of trading.
Executive leadership and management changes
As part of its expansion plans in Europe, BUX has made several business changes over the last year. In July 2021, Salim Sebbata was named new CEO of the UK CFD unit. Jean Raphael Nahas, was later hired as managing director of the BUX Cyprus CFD operations.
BUX has also secured a new regulatory licence that allows it to further expand within the post-Brexit environment of the EU.
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