Wikilix
Banxso logo

Banxso

Regulated
South Africa
,
Last Updated:

Trading Conditions

Min Deposit:
USD300
Max Leverage:
200
Account Types
StandardJointCorporate

User Reviews

—
Total Reviews
—
This Month
—
Avg Rating

Funding Methods

5 methods

Debit/Credit Cards

credit card
Instant
Fee:
Free
Fee:
Free

Bank Wire Transfer

bank transfer
3 days
Fee:
Free
Fee:
Free

Bitcoin (BTC)

crypto
days
Fee:
Free
Fee:
Free

E-wallets (e.g., Astropay)

e wallet
Instant
Fee:
Free
Fee:
Free

Local Payment Methods (e.g., Ozow)

other
Instant
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 17%, 2: License 0%, 3: Software 0%, 4: Spread 0%, 5: Account Type 18%, 6: Symbol 0%
Regulation
17%Poor
License
0%Poor
Software
0%Poor
Spread
0%Poor
Account Type
18%Poor
Symbol
0%Poor

Regulatory Licenses

Regulatory Licenses:
Tier 3
Mauritius flag
Offshore
FSC | Mauritius

Company Information

Full Name:Banxso (PTY) Limited
Founded:N/A
Headquarters:South Africa
Enterprise Offices:N/A

Customer Support

Phone:
+27 104 464 170
Live Chat:
Not Available
Response Time:
—
Languages:
English
Scroll Down
Editorial review
Updated

Broker Summary

What Wikilix has recorded about Banxso: its history, the licences it holds, its trading conditions and its fees.

Summary of Banxso's Review

Banxso is a South African multi-asset brokerage that began its operations in 2022. It says it has an extensive catalogue of products, which includes forex, commodities, currencies, stocks, and crypto, and users can trade via their proprietary app (Banxso X) or by downloading MetaTrader 5 after a minimum deposit of $300 to get started.

- The platform launched in 2022

- Registered in South Africa

- Offers access via FSCA ( revoked and banned), CySEC/ASIC (suspicious clones)

- Allows various types of trading instruments including forex (pairs), commodities (gold, etc.), indices (stock indices), cryptocurrencies (Bitcoin, etc.), stocks (Apple, Amazon, etc.)

Many features available to customers include:

- A demo account to practice on before trading with real money.

- Different types of accounts including Classic, Platinum, VIP, Extra, and several types of Joint accounts.

- Trading accounts in three tiers.

- Minimum deposit required per account type.

Banxso is an unregulated business that has no licences available for its customers to see. All of the current licenses held by Banxso are either suspended or revoked. They are not considered to be in good faith until further regulation is received from the authorities. Customers of Banxso should trade with caution and to ensure that all funds deposited into your account will be paid back either through the account's trading account or through an available alternative payment method.

The information contained within this reviewing summary should be used as a guide. Please remember that past results may not guarantee future success. You should carefully consider your own situation before investing with Banxso and make sure that all of the requirements outlined above are met below.

Regulation check

Regulatory Licenses

Every licence Banxso has in force is from an offshore regulator. Most carry no compensation scheme — each licence's record says what the issuing regulator actually requires.

0 of 1 checked
Licences on record
1
Confirmed on register
0
Tier 1 or 2
0
Offshore
1

WIKILIX

Licence intelligence

The only licence on file

Licence Verification Record

Financial Services Commission GB23201707

Recorded from the firm's own disclosure. Not yet checked against the register.

Jurisdiction
MauritiusOffshore
Authority strength
Tier 3
Not yet checked on the register

Client protection under this licence

  • No compensation scheme
  • Complaints routeFSC Complaints
  • Maximum leverage1:1000

These are the rules FSC sets for the firms it licenses. They are not a statement about how Banxso applies them, or about which of its companies would hold your account.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

Open the FSC licence recordAbout FSC
Trading accounts
Updated

Account Types

3 account types on record. Minimum deposit from USD 300. Leverage up to 1:200.

3 account types
AccountMin DepositLeverageCommission
StandardUSD 3001:200Zero commission fees
JointCorporateUSD 10,0001:200Zero commission fees
CorporateUSD 250,0001:200Not specified
Account names and conditions as published by Banxso, recorded by Wikilix.
Deposits & withdrawals

Funding Methods

5 ways to fund an account. 4 with no deposit fee. 3 credit instantly.

5 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Debit/Credit CardsCredit Card
Withdrawals processed back to original deposit method up to deposited amount; widely accepted for South African clients.
FreeFreeUSD 250Not recordedNot recordedInstant
Bank Wire TransferBank Transfer
Reference number required for tracking; available to South African clients.
FreeFreeUSD 250Not recordedNot recorded3 days
Bitcoin (BTC)CryptocurrencyNetwork fees apply; available to all clients.Not recordedNot recordedNot recordedNot recordedNot recordedday
E-wallets (e.g., Astropay)E-Wallet1FreeFreeUSD 250Not recordedNot recordedInstant
Local Payment Methods (e.g., Ozow)Other1FreeFreeUSD 250Not recordedNot recordedInstant

Broker's notes on these methods

  1. Withdrawals processed back to original deposit method up to deposited amount; available to all clients. · applies to 2 methods
Fees, limits and processing times as published by Banxso, recorded by Wikilix.
Websites

Global Domains

2 domains on record. All active and served over HTTPS.

2 domains
  • banxso.comMain siteActiveHTTPS
  • banxso.euListed domainActiveHTTPS
Domains recorded by Wikilix. Only a domain listed here is known to belong to this broker.
Social channels

Social Presence

5 official channels on record.

5 channels
Channels as published by the broker, recorded by Wikilix.
Frequently Asked Questions

Frequently Asked Questions

Common questions about Banxso

Most Popular Questions
According to WIKILIX data, Banxso offers trading in regulated financial instruments including Forex, funds, and derivatives. Details about specific trading platforms or the number of available instruments are not specified in the provided context.
Banxso offers customer support in English. Clients can contact support via email at cs@banxso.com or through WhatsApp at the number +27 661 861 782. The broker also maintains social media profiles on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
The minimum deposit amount to open an account with Banxso is 300 USD. Some funding methods, like debit/credit cards and e-wallets, require a minimum deposit of 250 USD. Specific minimum deposit details for Bitcoin are not specified.
Banxso supports deposits via major debit and credit cards, bank wire transfers, Bitcoin, e-wallets like Astropay, and local payment methods such as Ozow. Deposits are generally processed instantly except for bank wire transfers, which take 1-3 business days. There are no deposit or withdrawal fees for these methods.
Banxso is regulated by the Financial Services Commission (FSC) of Mauritius, an offshore regulator. It holds an Investment Dealer (Full Service) license and operates under a medium transparency level. The broker offers leverage up to 200 and covers most countries worldwide, excluding North Korea and UN-sanctioned countries.
Still Need Help?

Can't find what you're looking for?

Our support team is here to help you get the answers you need.

Comments

Share your thoughts and experiences with Banxso