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Banxso

South Africa | 2-5 years |
Suspicious Regulatory License | White label MT5 | Regional Brokers | South Africa Financial Service Corporate Revoked | Suspicious Overrun | High potential risk

https://banxso.com

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

Banxso-Production

Finland
MT5
2

Influence

C

Influence index NO.1

South Africa 4.22

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
Banxso-Production MT5
Server Location Finland

Influence

Influence

C

Influence index NO.1

South Africa 4.22
Surpassed 20.90% brokers
Biz Area Search Statistics Advertising Social Media Index

Contact

+27 104 464 170
cs@banxso.com
https://banxso.com
117 On Strand De Waterkant, Capetown 8001, South Africa
Warning: Low score, please stay away!
2025-06-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
5

Basic Information

Registered Region
South Africa
Operating Period
2-5 years
Company Name
Banxso (PTY) Limited
Customer Service Email Address
cs@banxso.com
Contact Number
+27104464170
Company Website

rain cloud

Unverified

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

Unverified

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…

Neutral

2024-04-30

ING

Unverified

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.

Neutral

2024-04-19

Jared Hughes

Unverified

United Kingdom

Traded with Banxso and my overall verdict? Mostly pretty good. Their spreads are competitive, managed to trade USD/EUR amidst tight ranges, it was consistent even during volatility. The trading platform is straightforward, didn't face much hiccup placing trades, setting stop losses, or creating price alerts. However, one area that somewhat dulled the shine was the speed of withdrawal. Longer than my preference and industry average, took about a week to reflect in my account.

Neutral

2023-10-09

Nathan Turner

Unverified

United States

Trading with Banxso? Solid. Fair spreads, good platform. Withdrawal was slower than I'd like, though.

Positive

2023-10-09

Kenneth Wright

Unverified

United States

Gotta admit, I really dig the fantastic variety of trading instruments they've got. It has allowed me to craft a diversified and resilient portfolio that would make any trader glow with pride. Another major clincher for me has got to be their great spreads, it's been consistently tight, like right on money! And, the clear-as-daylight fee structure? Simply refreshing, mate, no sneaky charges lurking in the dark corners. Now, about their platform - it's as intuitive as they come. Even for a technical klutz like me, navigating through it has been as easy as pie. Withdrawals? Fast and fuss-free, no nail-biting wait involved.

Positive

2023-10-09

Abo Adam

Unverified

Philippines

I stepped into the trading world with Banxso a few months ago, right off the bat their vast array of instruments caught my attention. I've been trading a mix of currencies (mainly USD/EUR & GBP/JPY) and dabbling in oil, and the ride so far has been a blend of ups and downs. Starting with the good, Banxso keeps their spreads competitive, around 1.0-1.2 pips for the USD/EUR pair and 7-9 pips for oil. These reasonable spreads, coupled with the absence of any hidden fees, is definitely a perk. My long positions on GBP/JPY, held over several weeks thanks to a leverage of up to 30:1, resulted in a decent profit margin. Their trading platform is pretty intuitive, it didn't take me long to figure out how to open and close positions, and the chart tools make for good market analysis. However, during a few high-volatility events, I noticed a bit of a lag. It didn't affect my trading outcomes, but the momentary panic wasn't pleasant. Now, for the thorny bit. When it came to withdrawals, it was a bit of a waiting game. Having to wait about a week to receive my own profit of $5,000 was a bit of a stretch, especially when profits from oil trading were sitting around 30%.

Neutral

2023-10-09

Niko.

Unverified

Malaysia

The spreads on cryptocurrencies are very competitive compared to other brokers I've explored, which is a huge advantage. It’s fulfilling to see that my orders are executed at the expected prices with no slippage - really adds a level of trust in the platform. Their security measures are remarkable as well, with robust encryption to protect my funds and information. When it comes to withdrawing my earnings, the process on Banxso platform has been exceedingly smooth. My last withdrawal of approximately $2500 was processed within just two days! This efficiency is very rare based on my experiences with other brokers. There were no surprises – everything was transparent and as stated. In a nutshell, Banxso has been a reliable and effective trading partner for me. It's platforms like these that make cryptocurrency trading simpler and more enjoyable. Highly recommended !

Positive

2023-09-13

Eason85782

Unverified

Mexico

It seems that this company offers very attractive trading conditions! Zero commission, low spread, high leverage, MT5... but I see that your supervision may not be so reliable. I think the most important thing is safety. If your money is scammed, what is the point of other trading conditions?

Neutral

2022-11-28

Berlin44615

Unverified

Australia

That is a good thing, this platform providing 7/24 customer support, demo account, mt5 trading platform, but I decide not to trade with it, it make me feel unsafe. 1’d better find some brokers under strict regulation.

Neutral

2022-11-24

10
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Website

banxso.eu
172.67.215.144
banxso.com
104.21.83.120

Company Summary

Banxso Review Summary
Founded2022
Registered Country/RegionSouth Africa
RegulationFSCA (Revoked), CySEC/ASIC (Suspicious clone)
Market InstrumentsForex, Indices, Commodities, Cryptocurrencies, Stocks
Demo Account
LeverageUp to 1:200
SpreadFrom 0.8 pips
Trading PlatformBanxso X App, MT5
Minimum Deposit$300
Customer SupportLive chat
Email: cs@banxso.com
Social Media: Facebook, Instagram, YouTube, Twitter, LinkedIn, WhatsApp

Banxso 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.

Banxso's homepage

Pros and Cons

ProsCons
Banxso X, MT5 supportedNo regulation
Demo accounts availableHigh minimum deposit requirement
Various account types
Multiple market offering

Is 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 Number
South Africa
Financial Sector Conduct Authority (FSCA)RevokedBANXSO (PTY) LTDFinancial Service Corporate37699
Cyprus
Cyprus Securities and Exchange Commission (CySEC)Suspicious CloneNova Securities LtdStraight Through Processing (STP)413/22
Australia
Australia Securities & Investment Commission (ASIC)RevokedALTUS INVESTIUM LTDInvestment Advisory License000458097
Revoked FSCA license
Suspicious clone CySEC license
Suspicious clone ASIC license

What Can I Trade on Banxso?

Banxso claims to offer tradable products on its platform, including Forex, Indices, Commodities, Cryptocurrencies, and Stocks.

Trading AssetAvailable
forex
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 Tier
Account TypeMnimum Deposit
Classic$300
Platinum$1,000
VIP$2,500
Extra$5,000
Classic Tier account comparison
  • Platinum Tier
Account TypeMinimum DepositSpread from
Advanced$10,0001.2 pips
Platinum$25,0001.2 pips
Exclusive$100,0001 pip
Platinum Tier account comparison
  • VIP Account
Account TypeVIP
Minimum Deposit$250,000
Cashback5x
Maximum Leverage1:200
Spreads from0.8 pips
MinimumLot Size1
Minimum Step Size1
VIP account features

Leverage

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 AppDesktop, Mobile, Web/
MT5Desktop, Mobile, WebExperienced traders
MT4/Beginners
Banxso X App
MT5

Deposit and Withdrawal

Banxso accepts three payment methods: Debit/Credit Card (Visa and Mastercard), Bitcoin, and Bank Wire.

Payment methods

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

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