Founded in 2019, Banxso is a Forex broker regulated by South Africa’s Financial Sector Conduct Authority (FSCA). With a team of over 100 employees and more than 10,000 active traders, Banxso provides a secure trading environment featuring competitive conditions, including a minimum deposit of $250 and leverage up to 1:500.
Banxso serves professionals, active traders, and beginners by offering various account types, educational resources, and diverse customer support options.
Bonus offers and Promotions
Banxso offers various bonuses and promotions to enhance the trading experience and maximize returns. One highlight is an 8.7% interest rate on account equity for both new and existing clients. The Cash Back Program rewards traders with cash back on every trade, allowing for monthly earnings just by being active. The Refer a Friend program incentivizes clients to invite friends, earning bonuses of up to 30% based on their deposits.
Additionally, the Trust Deserves Rewards program offers a minimum 30% bonus on initial deposits for new customers, although some withdrawal conditions apply.
Safety and Security
Banxso places a strong emphasis on safety and security within the trading environment, allowing clients to trade with confidence. Recognized for its efforts in supporting underserved communities, Banxso has expanded its operations internationally while maintaining its leadership and innovation in the trading sector. The broker has earned the trust of over 50,000 clients, offering a secure platform backed by strategic partnerships, including a sponsorship with UFC World Champion Dricus du Plessis, which underscores its commitment to excellence and community involvement.
Account Types and Features
Banxso provides a range of account types to meet diverse trading needs and investment levels. The Classic Account tiers start with the Intro Tier at $100, offering essential benefits like a success manager and educational resources. The Basic Tier at $1,000 includes a trading academy and protected trades, while the Plus Tier requires $2,500 and enhances trading conditions. The Extra Tier, at $5,000, adds even more benefits.
For serious traders, the Platinum tiers begin with the Advanced Tier at $10,000, offering a 2x cashback rate and better trading conditions. The Premium Tier starts at $25,000 with additional features, while the Exclusive Tier requires $100,000 and offers a 4x cashback rate and advanced mentoring.
The VIP Account is for elite traders with a $250,000 minimum investment, providing a 5x cashback rate and starting spreads of 0.8 pips, along with dedicated support and enhanced conditions.
Trading Platforms
Banxso provides access to several trusted trading platforms, including MetaTrader 5, Cooma Social, and Trading Central.
MetaTrader 5 (MT5) is a top-tier CFD trading platform offering extensive customization and automated trading features. The MT5 app allows traders to execute trades and analyze markets on the go, supporting strategy back-testing and ready-made options for all experience levels.
Cooma Social enables users to learn from and copy professional traders, offering educational resources, real-time insights, and personalized risk management tools to help beginners refine their skills.
Trading Central delivers crucial market insights and analysis through award-winning AI, integrated into both Banxso X and MetaTrader 5. This platform provides real-time data and collaborative tools to support informed trading decisions.
Markets Available for Trade
Banxso offers a diverse selection of trading instruments, allowing clients to engage in various financial markets. Traders can access Forex, CFDs on stocks, indices, commodities, and ETFs, providing ample opportunities for portfolio diversification and the use of different trading strategies.
With robust platforms and analytical tools, Banxso equips traders with the essential resources to effectively navigate global markets.
Fees, Spreads, and Commissions
Banxso offers a competitive fee structure aimed at maximizing traders’ returns. Classic Account Tiers feature standard spreads, with the Plus Tier starting at 1.6 pips and the Extra Tier closely following. Platinum Tiers begin at 1.2 pips for the Advanced Tier and remain consistent in the Premium Tier, while the Exclusive Tier starts at 1 pip for elite traders. The VIP Account provides even lower spreads from 0.8 pips for high-volume traders.
Commission rates vary by account type and trading volume, with additional fees for withdrawals and potential inactivity charges.
Deposits and Withdrawals
Banxso provides a secure and efficient process for funding and withdrawals, allowing traders easy access to their funds. Deposits start at $250, and clients can choose from various methods, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are processed quickly, emphasizing transparency and security.
Education and Research
Banxso provides a robust Education and Research section aimed at empowering traders of all levels. The Economic Calendar keeps users informed about key financial events, while various Education Courses offer in-depth knowledge on trading strategies and market analysis. Additionally, traders can access informative Trading Videos and join interactive Webinars to enhance their skills and stay updated on market trends.
