Banxso Review – Doing Banxso the Right Way

What is Banxso?

Banxso is a well-known commission-free forex broker that makes it easier to exchange, buy and sell different tradable instruments. Beginners, as well as professional traders, prefer Banxso as they can gain access to additional features and different order types through Banxso. Every trader has distinct interests and goals in trading, and this is the sole reason why Banxso tries to offer as many trading options as possible.

Banxso Review Interface

With Banxso, traders can trade forex, stocks, commodities, crypto, and indices from any part of the world. The platform is one of the best options for forex trading as it aims to create an endless investment and trading experience for anyone that wants to potentially gain profits from trading.

If a trader wants to start trading safely without losing money or without the constant fear of hidden commissions or fees, then Banxso should be on their list of the top 5 forex trading exchanges. The platform is committed to offering utmost safety, along with the transparency of the fee structure. All deposits made by the clients are stored in safe and segregated accounts.

Features of Banxso 

Irrespective of the level of proficiency and level of experience in the trading markets, Banxso promises to provide each trader with trading insights and knowledge so that new traders get a clear idea of how the financial world works. Some of the platform’s notable features include–

  • Banxso offers an array of financial products, including forex, stocks, indices, commodities, and recently they have added cryptocurrency to their list.
  • Two trading platforms are available at Banxso, the mobile platform and the popular MetaTrader 5.
  • Banxso has an enriching education section that includes online courses with insightful articles hosted by the platform’s trading experts, several webinars, and personal coaching.
  • Banxso helps traders in planning their investment strategies and executing the trades to their advantage.
  • The clients at Banxso can use their smart trading tools, real-time technical analysis, and the latest news on financial markets. These features tend to refine their trading strategies and hone their instincts.
  • The Banxso fees are fixed at low levels compared to the global industry average.
  • The platform is technologically advanced, which gives more power to the traders to trade on their own terms, regardless of their trading goals and experience.

Is Banxso a Regulated Broker?

Yes, being a regulated broker, Banxso is one of the safest and most reliable forex brokers. It is regulated and licensed under the leading financial regulatory framework of the Financial Sector Conduct Authority (FSCA). FSCS is a trading and market conduct regulator of financial institutions that provides financial services and products.

The forex market is swamped with unregulated brokers, and hence, it becomes extremely crucial to choose a safe, regulated, and reliable broker to suit the trading needs of a trader. Sometimes, this job of finding a regulated broker can be challenging. To make it easy, it is advised to choose those brokers that are licensed and registered by financial bodies such as FCA and FSCA.

Banxso is a regulated broker, which is why the platform is required to submit evidence of audits and their accounts regularly and adhere to the rules to remain on the list of FSCA.

Pros and Cons of Banxso 

Pros Cons
check Easy-to-use for beginners and seasoned traders cancel Not widely supported
check Supports cryptocurrencies cancel Does not offer MetaTrader 4
check Regulated and licensed broker by FSCA
check Several tradable assets are available

Is It Safe to Trade with Banxso?

Banxso uses industry-leading safety measures to keep their client funds and trading assets safe. However, there are some risks involved while trading on crypto exchanges, so it becomes crucial to follow the best practices to keep account information and deposits safe.

Worth mentioning, almost 99% of the funds are stored in segregated accounts using cold storage, supported by paper and digital backups. Banxso guarantees 100% safety of their client money and the investments are regularly supervised and monitored by the platform’s regulators so that traders can invest with full confidence.

The platform also uses data encryption on its website, along with other strong security methods. Since thousands of clients have fallen victim to fraudsters and hackers who have drained their trade accounts, it is essential for clients to use random and unique passwords on financial websites, like Banxso, to avoid these kinds of losses.

Banxso offers 100% transparency as there are no hidden fees on the platforms. Hence, the traders know exactly how much they are going to pay to make trades.

Assets Offered for Trading 

Banxso offers the following assets for trading –

Banxso - Trading


Banxso’s forex trading asset has a low entry point, which means that traders can enter the market with the smallest quantity of capital and still see significant returns on the low investment. Forex trading at Banxso is flexible where traders can trade forex 24 hours, 5 days a week with high liquidity. This means that forex trades can be performed instantly with low risks of volatile movements and smaller spreads. Banxso’s forex diversity, complexity, and liquidity can be used to the client’s advantage if traded rationally.

In addition, Banxso offers options trading that allows traders to predict the movements in the forex market. But for this, traders need to pay a small charge for purchasing the right to own a currency pair at the available exchange rate at a particular point in the future. There are no obligations to purchase and so, the traders can pull out and lose just the fee they paid.


Trading stocks is one of the basics and the most preferred option for investing and trading. Traders benefit significantly from the knowledge of global strategies and markets. But note that share prices are always fluctuating, which tends to pose a great opportunity for potential investors. Although most traders make profits from these stock price movements, there are many average traders that miss out on the profits and lose money instead. Banxso aims to better the chances of making smart trades.


Indices trading allows traders to focus their strength on regional and global markets instead of focusing on individual stocks. Banxso helps in building a diversified portfolio for the traders by including a range of indices for them to invest in. Nevertheless, the trade results from indices trading can be viewed in the long run as well as in the short-run but they can be quite tricky to invest in. Hence, Banxso aims to give information, wisdom, and insights to help in trading indices with 100% confidence and security.

Banxso indices are done in the same way as forex and stocks but since they are an average of trading assets, they need a wide view of the markets. For this reason, Bansxo recommends indices to those traders that know how to take a wide view of the markets and focus on the global details.


Commodities trading is not a new concept and it goes back to the ancient days when the barter system was in place. Since they have not lost their place on earth, Banxso has decided to incorporate commodity trading on their platform. It has included trading systems, specific tools, educational resources, and materials that prepare the traders while trading commodities.

Banxso invites investors and traders to trade and invest in different kinds of commodities available on the platform. Based on their trading style and preferences, they can trade energy, agricultural commodities, and metals. Even though these commodities react substantially to market fluctuations, they present opportunities to earn income through regular purchases and sales.

Different types of commodities at Banxso includes –

Energy trading includes trading commodities, such as natural gas, crude oil, gasoline, wind power, electricity, and other renewable and non-renewable resources.

Agricultural or Soft commodities, like cotton, coffee, cocoa, rice, wheat, corn, sugar and soybeans, are also traded at Banxso and these are largely considered to be stable assets compared to energy commodities.

Metal trading involves the trading of valuable commodities, such as silver, gold, copper and platinum, that become more valuable even during unstable times and are considered reliable assets.


Cryptocurrency trading has recently been introduced in the trading world and it is here to stay since there are a plethora of benefits that come with crypto trading. Cryptos are varied and tend to have a range of practical uses and Banxso believes that traders should possess full awareness of where their money is being spent or invested. The platform ensures that their clients are informed about the ins and outs of the cryptocurrency world and the functionalities of the digital coins that traders can buy through Banxso.

Order Types 

Banxso offers a range of advanced order types and features that can be easily accessed by anyone through the mobile or desktop platform. The order types offered by Banxso are as follows –

Market Order – Banxso market order instructs the traders to buy and sell a financial instrument at the best possible price. There is no particular price set while dealing with the Banxso market order. However, if liquidity is absent, the market orders are generally executed at the closest price available when the market order is placed.

Limit Order – Banxso limit order informs the traders to buy and sell trading instruments at a particular price or better but it does not guarantee the fulfillment of the order. A limit order enables traders to know how much exactly they are willing to buy and sell the instrument for. Here, the traders need to set a particular expiry time or leave it to the default setting, called GTC or good-till-canceled. GTC means that the order remains open till executed as a successful trade.

Stop Order – Banxso stop orders are used by the traders to enter a market at a relatively less favorable value. Stop orders are commonly used as stop-loss orders as a method of risk management. This enables traders to limit their losses and exit the trade if the market starts moving against them.

Stop-loss orders can be used for free and they shield trade accounts from adverse market movements but one must be aware of the fact that they cannot always guarantee a position.

Demo Account 

Almost every forex trading platform offers a demo account where the traders get a chance to experiment with the features and functions of the platform before registering for a real live account. Banxso, like other forex platforms, also offers a demo account, free of cost and extremely beginner-friendly. Any new investor can register for a free Banxso demo account to check out its user interface before making actual trades.

To create a demo account, traders do not have to provide any financial or sensitive information apart from their name, email ID, and a strong password. Remember that to trade on Banxso, having a demo account alone is not sufficient. The demo account only helps in familiarizing the traders with the functions and features of Banxso.

Account Types

Banxso offers two types of trade accounts – the demo account and the live account.

The demo account is offered to allow prospective traders to experiment with the platform before they put out real money. Banxso has included a demo account in their platform to coach their new users about trading practices and strategies and teach them how to make trades in the real and exchange markets.

A live account, on the other hand, allows the Banxso users to place trades on their preferred assets. While a demo account can be created by any user since it does not need any financial or personal details, a live account is offered to those that are willing to trade any of the supported assets offered by Banxso.

To open a live account, also known as a personal profile on Banxso, along with personal details, like name, email ID, and password, the users also need to provide their date of birth, phone number, account currency, citizenship, country, and address. Providing this sensitive information is mandatory as Banxso, being regulated and licensed by the FSCA, needs to abide by the rules and regulations laid down by the financial authorities. These measures help in protecting the sensitive information of the traders as well as their funds.

Account Opening Process

The account opening process at Banxso is reasonably easy and quick, quite similar to opening a brokerage account or new bank account online. All the traders need to do is go to the official Banxso website and click on the register tab. The next page will require the traders to enter certain personal details, such as name, address, date of birth, email ID, and a strong and unique password, in order to create a demo account at Banxso.

Banxso-Account opening process

New Banxso account holders may also have to submit a photocopy of a government ID for the live account and for tracking their transactions for regulatory reasons, such as tax reporting.

Once the account is set up, traders can start buying, selling, or trading different tradable assets available at Banxso. Note that trading on Banxso is beginner-friendly and easy for anyone that has basic technological skills. The platform is available in the desktop version as well as in mobile platforms. Note that the account opening process does not take more than five minutes to process.

Trading Platforms

Banxsos has successfully attracted thousands of traders from across the world because of its reliability and commitment to offer more than one trading platform that suits the trading strategies and goals of the traders. It offers platforms, like MetaTrader 5 and mobile trading platforms, that boast impressive features of trading services.

First things first, those that have been trading in the digital world would know that MetaTrader 5 is a leading multi-asset trading platform that is technologically developed to enable comprehensive and flexible trading operations. MetaTrader 5 provides a wide range of smart tools useful for fundamental and technical analyses.

The MT 5 platform was developed to expand trading activities beyond CFD and forex instruments, and this is why MT 5 is also popularly known as a multi-asset all-in-one platform. It involves both centralized and non-centralized markets, like futures, stocks, indices, and forex instruments. Compared to MT 4, MetaTrader 5 is a much faster and multi-threaded platform that offers a high market depth and allows traders to see where their bids and offers are valued in the market.

Secondly, Banxso offers a Mobile Platform that enables trading on the go from smart devices, like Android and iOS operating software. The app supports all the functions in the desktop platform and it offers a comprehensive and analytical resource through several technical indicators and graphical objects.


One of the main priorities of Banxso is to educate their traders and help them become successful and rich with their rich arsenal of various educational and knowledgeable resources, such as online courses, webinars, personal coaches, and trading ideas. Banxso gives complete access to such education resources and welcomes to improve their users’ trading skills through the following ways –

Online Courses

Banxso’s online courses include webinars and insightful articles hosted by the platform’s trading experts. The course covers topics on currencies, indices, stocks, trading strategies, cryptocurrencies, and commodities, among others. Anyone that signs up for the online courses at Banxso can get full access to these learning resources.

Personal Coaching

Banxso understands the value of teachers and their influence on students. Coaching helps in the professional growth and learning process of the students. Hence, Banxso has invited one of the first-rate trading experts to personally coach the platform’s traders face-to-face.

Trading Ideas

Banxso experts discuss financial markets and predict their future movements. They make in-depth technical analyses of different assets and predict their short-run and long-run movements with great precision. Banxso’s daily market reports aim to bring attention to environmental, economic, and political news that affect stock exchanges. Those who keep themselves updated with Banxso’s market reports are bound to feel on sturdy ground, even if the market suddenly changes its course.


Banxso also offers regular webinars, covering an array of topics on trading and giving informative answers to their client’s questions. The webinars are quite interactive where the traders get a chance to exchange opinions with others. Sharing views allows traders to gain in-depth insights into the functionalities of the financial market and the impressive art of trading.

Banxso Review – Customer Support

With so many forex brokers coming into being, choosing the best one becomes a difficult job. One of the factors that determine the quality of a trading platform is its customer support quality. Coming to Banxso customer support, the responsiveness and efficiency of the support team are worth mentioning. It promptly responds to every customer query within 24 hours. However, there are many channels through which the customers can get in touch with the Banxso support team –


Send an Email – Raise requests for Banxso support through an email sent to [email protected]. The platform requests mailers to send emails, along with their full name and valid contact details. Generally, the team replies within 24 hours.

Meet a Representative – Traders can physically meet Banxso’ representatives through personal human support. Visit their regional embassy at Byls Bridge Office Park Building 14, Block B Corner Olivenhoutbosch Road and, Jean Ave, Centurion, 0157, South Africa.

Telephonic support – Banxso customer service is also available via telephone support. Customers can contact them with their relevant information at +27-080-099-7915.

Live Chats- Customers can speak with the support team directly through the live chat function, available 24*5.


Do I Need a Broker for Forex Trading?

Yes, a forex broker is a must for speculating on the prices of different currencies from the broker account. The broker, however, should be reliable, trustworthy, regulated and have a valid license in the same country where the traders reside.

Are Forex Brokers Reliable?

Forex brokers that are trustworthy, regulated, and licensed tend to be the most reliable. The reliability of a forex broker is based on the requirements of the traders, which can substantially differ across brokers. You should rely on a reliable broker to protect your money from hackers and fraudsters.