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Banxso foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://banxso.com/registration-landing/, about the company's legal and temporary regulatory information, the company's address 117 On Strand De Waterkant, Capetown 8001, South Africa.

Banxso Forex Broker

Basic Information

Registered Region
South Africa
Operating Period
--
Company Name
Banxso (PTY) Limited
Abbreviation
Banxso
Company employee
--
Customer Service Email Address
cs@banxso.com
Contact Number
+27104464170
Company Website
Company address
117 On Strand De Waterkant, Capetown 8001, South Africa
Keywords
2-5 years
Suspicious Regulatory License
White label MT5
Self-developed
Regional Brokers
South Africa Financial Service Corporate Revoked
Suspicious Overrun
High potential risk

Company profile

Banxso Review SummaryFounded2022Registered Country/RegionSouth AfricaRegulationFSCA (Revoked), CySEC/ASIC (Suspicious clone)Market InstrumentsForex, Indices, Commodities, Cryptocurrencies, StocksDemo Account✅LeverageUp to 1:200SpreadFrom 0.8 pipsTrading PlatformBanxso X App, MT5Minimum Deposit$300Customer SupportLive chatEmail: cs@banxso.comSocial Media: Facebook, Instagram, YouTube, Twitter, LinkedIn, WhatsAppBanxso Information Registered in 2022, Banxso is a multi-asset trading platform based in South Africa. It claims to provide multiple market instruments such as Forex, Indices, Commodities, Cryptocurrencies, and Stocks. Banxso offers access to two trading platforms, MT5 and a self-developed Banxso X App. The minimum deposit required to start trading with Banxso is $300.Pros and ConsProsConsBanxso X, MT5 supportedNo regulationDemo accounts availableHigh minimum deposit requirementVarious account typesMultiple market offeringIs Banxso Legit? No. None of Banxso's licenses are currently effective, which means Banxso cannot be considered a legitimate company.Regulated CountryRegulated AuthorityRegulatory Status Regulated EntityLicense TypeLicense NumberFinancial Sector Conduct Authority (FSCA)RevokedBANXSO (PTY) LTDFinancial Service Corporate37699Cyprus Securities and Exchange Commission (CySEC)Suspicious CloneNova Securities LtdStraight Through Processing (STP)413/22Australia Securities & Investment Commission (ASIC)RevokedALTUS INVESTIUM LTDInvestment Advisory License000458097What Can I Trade on Banxso? Banxso claims to offer tradable products on its platform, including Forex, Indices, Commodities, Cryptocurrencies, and Stocks.Trading AssetAvailableforex✔commodities✔indices✔stocks ✔cryptocurrencies✔bonds❌options❌funds❌ETFs❌Account Type Banxso offers three tiers of live accounts, each with a different number of accounts and distinct conditions. In addition to the standard accounts, Banxso also offers a demo account, individual account, joint account, and corporate account. Here is a breakdown of each account tier.Classic TierAccount TypeMnimum DepositClassic$300Platinum$1,000VIP$2,500Extra$5,000Platinum TierAccount TypeMinimum DepositSpread fromAdvanced$10,0001.2 pipsPlatinum$25,0001.2 pipsExclusive$100,0001 pipVIP AccountAccount TypeVIPMinimum Deposit$250,000Cashback5xMaximum Leverage1:200Spreads from0.8 pipsMinimumLot Size1Minimum Step Size1Leverage The leverage is up to 1:200 for all account types on this platform. Leverage allows traders to control larger positions than their own capital would permit. While it can amplify profits, it also increases potential losses.Fees The spread starts from 0.8 pips and varies based on the account class on Banxso. A “spread” is the difference between the buying and selling prices of a currency pair.Trading Platform Traders on Banxso get access to two platforms: Banxso X and MT5. Banxso X is developed by Banxso, claiming to offer advanced features like enabling hedging, sophisticated charting, complex orders, customizable watchlists, flexible alerts, and complete control over stop-loss and take-profit levels. While MT5 is a more popular online trading platform, it is famous for multi-asset trading, advanced charting, analysis tools, algorithmic trading, market depth, and multiple order types.Trading PlatformSupported Available Devices Suitable for Banxso X App✔Desktop, Mobile, Web/MT5✔Desktop, Mobile, WebExperienced tradersMT4❌/BeginnersDeposit and Withdrawal Banxso accepts three payment methods: Debit/Credit Card (Visa and Mastercard), Bitcoin, and Bank Wire.

Rating Index

VIP

Minimum Deposit
$250,000

Exclusive

Minimum Deposit
$100,000
How to login to Banxso?
banxso Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a banxso Account Creating a banxso account is the first step in your trading journey. The registration process is designed to be straightforward and user-friendly.

Banxso Similar Brokers

2.28
Score

Latest Reviews

rain cloud

rain cloud

New Zealand

4 stars for their customer service. Miss Oriana was very patient and helpful in finding out if my documents were uploaded which for some strange reason i was unable to do.

Positive

2024-05-29

Lucas1.0

Lucas1.0

Cyprus

Am a beginner in this trade but you guys tries a lot to help me with lot of things and you patient with us so keep up the good work…

37130

2024-04-30

ING

ING

India

Honestly, dealing with Banxso has been a rollercoaster. Their relentless calls even after I closed my account has been pretty vexing. While I made some losses, things really started going south when I decided not to deposit more funds. On the brighter side, I received plenty of help navigating the shares platform, and was pleasantly surprised by the profits I made. As a newbie, their patient, competent staff built my confidence through training webinars and one-on-one interactions. I owe a special thanks to my account manager who treated my account with utmost care and provided valuable trading insights. Yet, I was later disillusioned by wide spreads, high swap fees and constant nudging to deposit more and make senseless trades. Despite detaching myself from their platform months ago, they just won't let me be. My advice? If you're considering Banxso, brace for both surprises and shocks before diving in.

37130

2024-04-19

Banxso

News

Banxso’s License Suspended by South African Regulator Amid Client Risk Concerns

News Banxso’s License Suspended by South African Regulator Amid Client Risk Concerns

South Africa’s Financial Sector Conduct Authority (FSCA) has suspended the license of the online trading platform, Banxso.

Banxso sponsors "Queens Park Rangers" Football Club

News Banxso sponsors "Queens Park Rangers" Football Club

South African broker, Banxso has signed a two-year collaboration with Queens Park Rangers (QPR), a football club.

WikiFX Broker Assessment Series | Something You Need to Know About Banxso

News WikiFX Broker Assessment Series | Something You Need to Know About Banxso

In today’s article, we are going to show you what Banxso looks like. WikiFX conducted a comprehension review on this broker to assist you in better understanding the truth.

Banxso's Online Currency Trading Can Help You Fund Your Children's Education

News Banxso's Online Currency Trading Can Help You Fund Your Children's Education

Online cash exchange is difficult as the masters online make us accept. WikiFX VPS. Many individuals find it an overwhelming undertaking to bring in cash reliably. Nonetheless, if one purposes the right procedures, devices and invests some energy in rehearsing, you will want to bring in sufficient cash as an afterthought to support your kids’ schooling effortlessly.

Banxso Forex Broker has an overall rating of 2.09, Regulatory Index 0.00, License Index 0.00, Business Index 6.41, Software Index 8.40 Risk Control Index 0.00.