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Banxso

WikiFX | 2025-05-30 10:18

Abstract：　　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 Review Summary
Founded	2022
Registered Country/Region	South Africa
Regulation	FSCA (Revoked), CySEC/ASIC (Suspicious clone)
Market Instruments	Forex, Indices, Commodities, Cryptocurrencies, Stocks
Demo Account	✅
Leverage	Up to 1:200
Spread	From 0.8 pips
Trading Platform	Banxso X App, MT5
Minimum Deposit	$300
Customer Support	Live 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.

Pros and Cons

Pros	Cons
Banxso X, MT5 supported	No regulation
Demo accounts available	High 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 Country	Regulated Authority	Regulatory Status	Regulated Entity	License Type	License Number
	Financial Sector Conduct Authority (FSCA)	Revoked	BANXSO (PTY) LTD	Financial Service Corporate	37699
	Cyprus Securities and Exchange Commission (CySEC)	Suspicious Clone	Nova Securities Ltd	Straight Through Processing (STP)	413/22
	Australia Securities & Investment Commission (ASIC)	Revoked	ALTUS INVESTIUM LTD	Investment Advisory License	000458097

What Can I Trade on Banxso?

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

Trading Asset	Available
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 Type	Mnimum Deposit
Classic	$300
Platinum	$1,000
VIP	$2,500
Extra	$5,000

Platinum Tier

Account Type	Minimum Deposit	Spread from
Advanced	$10,000	1.2 pips
Platinum	$25,000	1.2 pips
Exclusive	$100,000	1 pip

VIP Account

Account Type	VIP
Minimum Deposit	$250,000
Cashback	5x
Maximum Leverage	1:200
Spreads from	0.8 pips
MinimumLot Size	1
Minimum Step Size	1

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 Platform	Supported	Available Devices	Suitable for
Banxso X App	✔	Desktop, Mobile, Web	/
MT5	✔	Desktop, Mobile, Web	Experienced traders
MT4	❌	/	Beginners

Deposit and Withdrawal

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

Leverage Broker Commission Currency Pair Dealer Forex trading Forex Broker Forex Currency pair leverage in forex forex market Stock

Related broker

No Regulation

Banxso

Company name：Banxso (PTY) Limited

Score

1.56

Website：https://banxso.com

2-5 years | Suspicious Regulatory License | Self-developed | Suspicious biz area

Score

1.56

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