Frequently asked questions
How is Sonar Markets regulated?
Sonar Markets is trading name of BUX Financial Services Limited.
Trade execution services are provided exclusively by BUX Financial Services Limited.
BUX Financial Services Limited is a company registered in England and Wales under register number 03148972. BUX Financial Services Limited is authorised and regulated by the Financial Conduct Authority, FCA Register number 184333.
How long has Sonar Markets been established?
BUX Financial Services Limited has been providing execution only platform for trading Spread Betting and CFD since 2009.
What are your trading hours?
Our phone lines are open for trading enquiries between the hours of 2200h on Sunday night and 2215h on Friday night UK time (+44 (0)20 3326 2135).
Our phone lines are open for customer service related queries between 07:00 and 18:00, Monday to Friday. Outside of business hours, please send an email to firstname.lastname@example.org - your query will then be processed on the next working day.
Please send any trading or customer services related queries to the email above.
Please note that our online trading service is available 24 hours a day between 2200h on Sunday night and 2215h* on Friday night.
*Trading may be unavailable up to 1 minute before we close at 2215h on Friday night.
How can I retrieve my password?
You can retrieve your password by going to the TradeHub® Live or Demo login page, select ‘Forgot Password’ and then follow the instructions.
How do I retrieve my username?
To retrieve your Username, please email our client services department.
Is my money safe?
Yes, your money is safe. As an FCA regulated firm we are obliged to segregate all the retail clients’ funds from the company funds. Additionally, under the Financial Services Compensation Scheme (FSCS), client deposits are guaranteed up to a limit of £85,000. For more information visit the FSCS website.
What is FSCS?
The FSCS is the UK’s compensation fund of last resort for customers of authorised financial services firms. FSCS may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading or has been declared in default.
What happens if Sonar Markets defaults?
If Sonar Markets goes into liquidation, it would be considered a ‘primary pooling event’ in the FCA handbook. In case of a ‘primary pooling event’, a client’s main claim is for the return of the client money held in the client money bank account. A client may be able to claim for any shortfall against money held in a firm’s own account. For that claim, the client will be an unsecured creditor of the firm.
If after the liquidation of the company, any client claim is not settled in full the client could approach the FSCS. The FSCS would be able to cover the shortfall to the extent of £85,000 per person. Please refer to FSCS website for more details
How can I deposit funds?
You can deposit funds instantly on our trading platform TradeHub® using a debit/credit card. Alternatively you can deposit funds via a bank transfer. After opening an account at Sonar Markets you’ll receive an Email with detailed descriptions of the different deposit options including bank account details. For more information, or to fund your account now, please go to our Funds Management page.
How can I withdraw my money?
You can withdraw funds by accessing your account and selecting either a credit/debit card transfer or a bank wire transfer. Please note we do not return funds by cheque and we will only send funds back to source.