BANX Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-08-01 17:19

Abstract：BANX presents itself as a professional online brokerage services provider based in Düsseldorf, Germany, allegedly offering its clients access to a wide selection of trading instruments, including Forex Exchange, Shares and ETFs, Bonds, CFDs, on more than 150 exchanges in over 30 countries in Asia, Europe, and North America. Please note that BANX is not subject to any regulation to provide trading-related services, please be aware of the risk, according to WikiFX.

　　General Information

　　BANX presents itself as a professional online brokerage services provider based in Düsseldorf, Germany, allegedly offering its clients access to a wide selection of trading instruments, including Forex Exchange, Shares and ETFs, Bonds, CFDs, on more than 150 exchanges in over 30 countries in Asia, Europe, and North America.

　　Please note that BANX is not subject to any regulation to provide trading-related services, please be aware of the risk, according to WikiFX.

　　Products

　　BANX says it offers its clients access to diversified trading instrument options, including Stock & ETFs, Options & Futures, Foreign Exchange, Bonds, CFDs, Mutual Funds, Metals, Spreads, Hedge Funds, and EFPs.

　　Opening a securities account

　　A Margin deposit (Reg T Margin) can only be opened at the age of 21. Traders on a margin basis are possible with this account and a deposit of at least 3,000 EUR or the equivalent amount of other currencies is required to open the deposit.

　　A Cash deposit can be opened at the age of 18. The minimum deposit is 3,000 EUR or an equivalent amount of other currencies. To buy shares, options, or futures via the Cash account, this account must always have sufficient liquidity.

　　Commissions

　　BANXs “Commission” section displays detailed commissions for a particular instrument. For instance, commissions for the EUR is 0.4 basis point trade value, minimum per order of EUR 4.00.

　　Example:

　　100.000 EUR/USD

　　Exchange Rate EUR/USD =1.05

　　Buy 100.000 EUR and sell 105.000 USD

　　Commission: 0.00004 x 105.000 USD=4.20 USD.

　　Trading Software

　　BANX offers a series of trading software, including Trading Software TWS 4.0, Mobile Trader, Smart Routing, and API Solutions.

　　Customer Support

　　Traders with any inquiries, or any trading-related issues can get in touch with this brokerage through the following channels:

　　Telephone: +49-211 – 971-77-850

　　Email: service@banxbroker.de

　　A contact form