Your current account was opened and it’s currently managed by BUX Financial Services Limited (BFS), a UK entity regulated by the FCA. After the Brexit transition period ended, and with no deal in place for Financial Services, BFS could no longer service new clients resident in the EU.
The BUX Group has been working on setting up a new EU-based entity to allow for the onboarding of new EU residents; BUX Europe Limited (BEU), a Cyprus-based, CySEC regulated entity and will allow services to be passported to other EU countries.
We now need to ‘Migrate’ your account to the new BUX Europe Limited entity to keep it open. Your positions will stay open and nothing will change in your Portfolio.
This process requires you to provide your consent to migrate.
A 14-day deadline would be set for all existing clients and if no action is taken by the deadline date, then the account will be automatically suspended. In order for you to continue accessing your account once suspended, you will be required to agree to the new BEU terms and conditions and the migration to the new entity.
If after a further 14 day period of time, you did not consent to migrate your account, then the account will be scheduled to be closed. If the account has open positions, they will be closed and any funds will be returned to the original source.
We are sorry for this additional work and we are happy to help if you have any questions regarding this.