With BUX you have the ability to change your multiplier when you've already opened your trade. We call this feature the flexible multiplier and it allows you to increase your invested amount while keeping the value of your trade exactly the same. You can switch on this option in the Settings of the BUX app.
How does it work?
Say you have £500 in your account and you invest £100 in Ford with a multiplier of x4. So far you have only spent £100 of your account balance and your trade value for the trade is £400. If you decide to change your invested amount you can do so by adding money to your trade and decreasing your multiplier. For example, you could increase your invested amount to £200 and therefore decrease your multiplier to x2. Alternatively you could increase your invested amount further to £400 and therefore decrease your multiplier to x1 (no multiplier).
Please keep in mind that not all trades are able to implement this feature. For certain trade values, it is not possible to change your multiplier. Therefore, try to find a trade value that gives you a lot of possibilities. For instance, you could trade with a total value of £2000, which gives you a wide range of possible multipliers to use. Another thing that you will have to keep in mind is that you cannot increase your multiplier after you have opened a position. For example, if you open a position with a multiplier of 10, you can not move up to 20. However, should you open your position with 20 and move back to 10, you should be able to move back to 20, unless the maximum multiplier for that product has been decreased below 20 in the meantime.
It is important to note that the flexible multiplier is a feature that can be used to reduce the risk on your position. It is not intended as a feature that can be used to keep a postion open that is almost being closed due to the -100% guaranteed stop loss.
* The flexible multiplier cannot be changed outside office hours (from 22:00h Friday until 22:05h BST on Sunday).
We published a funny article related to this on our blog, Leverage Trading: 3 Reasons To Power Up Your Trades
Take a look also at What do I pay for the Financing Fee? and check out the BUX fee overview on our website
If you have any further questions in regards to this, please feel free to contact us via email at BUX Support.