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Banxso Spreads, leverage, minimum deposit Revealed

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
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 App✔Desktop, Mobile, Web/
MT5✔Desktop, 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

Related broker

No Regulation
Banxso
Company name:Banxso (PTY) Limited
Score
2.10
Website:https://banxso.com
2-5 years | Suspicious Regulatory License | White label MT5 | Self-developed
Score
2.10

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