What is Banxso?
Online trading platforms have become a big deal in the digital age for providing trading and investment options to users. The reason for such a boom is faster connectivity and on-screen accessibility to assets, stocks, and commodities through these platforms. In addition, they bring insights backed up with statistical data to assist traders and investors to hold their position in the market. To reinstate its reputation, a trading platform has to promise profitable returns to the businesses and people who invest their money in various assets through these platforms. Banxso is one of the pioneering firms in trading and investment with business associations extending to more than 150 countries. The worldwide business associations and calculative outlook of Banxso make it one of the in-demand trading platforms in the world.
Features of Banxso
One tends to essentially look into the features and properties of the trading platforms before investing. As a consequence, these platforms offer varied features and peculiarities to users with a promise to boost their profit. Being one of the most trusted platforms, Banxso too extends several features to traders that are promotional as well as data-driven to ensure they add to the value of the users’ money. The features are as follows:
- Tailor-made Training Analyst– This trading site offers each trader a digital analyst that observes the user’s investment preferences and brings insights and suggestions to help them add value to their assets and commodities. This personal analyst also helps traders better shape their investment goals.
- Technical Aid– Banxso comes with gilt-edged investment tools to help users access and trade their assets with much efficiency. The different tools offered by this platform put the users in command of the entirety of their assets.
- AI Technology– The business operations at Banxso are AI-driven with absolutely no discrepancies or mistakes made during the trade. The site has also created a proprietary algorithm that oversees the operations and helps traders keep their investment several steps ahead of the competitors.
- Knowledge Center– Banxso keeps an inventory containing articles, reviews, and footages of webinars on recent trends and development in the field of investment. The vision of the knowledge center is to impart knowledge about trading and investment equally to everyone.
- Multiple Trading Platforms– Banxso offers several platforms to suit the unique needs of users. These platforms are equipped with a variety of tools and features and users can accordingly choose the platform that is likely to optimize their trading.
- Prompt Customer Support– A live-chat 24-hours customer support is available for the users on all the working days of the week. The customer service is very responsive and prompt in solving the issues raised by the customers.
Is Banxso a regulated broker?
Banxso is a regulated and licensed trading platform with legalized operations stretching into several jurisdictions. The Banxso trading platform is owned and controlled by Zenfin Financial Services and is authorized and regulated by the South African Financial Sector Conduct Authority. Moreover, the platform offers its services to residents of all countries outside the European Union, excluding only a small number of countries. This small list primarily includes the residents of Australia, Canada, Cambodia, Cuba, Iran, Ghana, India, Israel, Mongolia, New Zealand, Nigeria, North Korea, Pakistan, Panama, Philippines, Yemen, Syria, United Kingdom, and the United States of America.
Despite being a regulated platform, Banxso comes with what are considered to be the standard risks of investing in Foreign Exchanges or cryptocurrencies. So, the users must understand the different kinds of investments and the risks involved to be able to withhold market fluctuations and earn a profit.
Pros and Cons of Banxso
|Offers an integrated platform to access a variety of assets such as Forex, stocks, indices, commodities, and cryptocurrencies.||Despite having one of the most prompt customer support services in the trading business, the Banxso customer service operates only 5 days a week. This might come as a shock for users who keep trading as a side-hustle for the weekends.|
|Banxso supports a large number of cryptocurrencies which gives the users a regulated environment to trade crypto.||The platform is not able to establish itself in some of the larger economies of the world as its services are affected due to the existing laws in some countries.|
|The availability of different platforms gives the user an edge to invest efficiently in the assets with specific tools and optimizations to boost the possibility of profit.|
|Banxso’s interface is an attempt to simplify the trading environment from the jargonistic outlook to keep the gates open for everyone to trade freely.|
|Banxso makes cross-platform communication and instantaneous processing of trading and investment possible with the mobile application.|
Is it safe to trade with Banxso?
It can be said without a doubt that Banxso is one of the safest trading platforms currently operating in the investment market. Apart from the technological features, a platform must carry a few other foundational characteristics on which its reputation would be built. The following are some of the peculiarities of Banxso that made it one of the leading trading platforms in the world:
- Reliability – A platform cannot just offer reliability to users like it is one of the features. Because the reliability of a firm is based on constant performance and the efforts taken to ensure the value of the user’s money. Being one of the widely preferred trading platforms, Banxso has won the reputation of being a reliable platform from users. It is this aspect of the platform that even provides a safer environment for independent markets such as bitcoins and altcoins.
- Simplicity– The technological advent has brought everything within the reach of users. Yet, firms have to constantly review and make their platforms accessible. The official motto of Banxso is based on the simplified outlook it provides for users to make trading opportunities available to everyone. The platform brings AI-based technical support to assist even beginners during complex investment levels.
- Affordability – Affordability is one of the core concerns of the users of trading platforms. Any user is likely to begin the review of the trading platform by learning about the various fees they would incur during the various stages of the investment. Banxso, given its focus on inviting beginners to trade, offers a better deal and brokerage compared to other noteworthy trading platforms.
- Security – Where money flows, there arises a natural need to fasten the security features. A trading platform must be licensed under a valid supervisory body and should follow all the regulatory guidelines to maintain a secure trading environment. Banxso is licensed under the South African Financial Sector Conduct Authority and has legal trading associations with more than 170 countries. Moreover, this platform invests much interest in the transparency of operations to keep users informed about every aspect of their investment.
Assets Offered for trading
Banxso offers a variety of assets to trade with, ranging from the financial market to the cryptocurrency market. This platform brings an inclusive trading environment by integrating various digital investment options. Additionally, it becomes the go-to site for beginners because it gives access to a wider market while also providing an uncomplicated interface. Banxso is a one-stop trading platform with investment options extending to assets such as-
- Forex – Forex is a portmanteau term that refers to the market of foreign exchange. In a Forex market, users can trade one fiat currency for the currency of another country. Foreign exchanges are vital for overseas business opportunities and are one of the largest markets for liquid assets in the world. The profit in forex trading is based on the interest and exchange rates of the currencies.
- Stocks – Trading in stocks is one of the most common methods for profit-based investment. An investor in stock trading essentially buys shares from a company and sells them when there is an increase in the value of the shares.
- Indices– Index trading is another investment option where the investor trades a group of stocks instead of the stocks of a particular company. The companies whose shares are included in the group form the index. Trading indices are generally considered more stable than stocks because they focus on a section of the entire economy instead of a single firm.
- Commodities – Banxso also enable investments in commodities such as fuels, energy, metals, livestock, and more. The recent developments in commodity markets such as Banxso have made the commodities market much more accessible than before. Trading in commodities is rendered through contracts and agreements based on the value of the commodity in the future.
- Cryptocurrency – The recent development of cryptocurrency as an investment option is the reason for most of the ongoing contentions in the trading and investment market. Despite conflicting perspectives, users are still increasingly investing in cryptocurrencies like Bitcoin. Banxso is a regulated platform that allows users to trade cryptocurrencies in a hassle-free and legitimate environment.
The Banxso accepted orders range from simple types, like market orders, to even the most advanced ones. The users are kept in full control of their orders to choose and modify their preferences. The following list gives the names of some of the commonly accepted order types when it comes to trading securities and forex through Banxso.
- Market Order
- Limit Order
- Stop Loss Order
- Entry Order
- Limit Entry Order
- Stop Entry Order
Upon completing the registration process in Banxso, the users are given access to a demo account before going further with live trading options. A demo account helps users gain a perspective about and get acquainted with the trading platform. Before depositing their money, the users can learn about the steps involved in buying and selling the assets through a demo account. The Banxso platform even offers fake deposits to give the users a close-to-real perspective and help them learn about the risks involved in online trading. After gaining some insights into the nooks and crannies of online trading, the users can switch to a live trading account. Once the account is verified with a Banxso Account Manager, the wallet is activated and the users can deposit their money to trade in different markets.
Anyone over 18 years of age is free to open their trading account with Banxso. The trading platform brings a step-by-step procedure to help users easily navigate through the levels. A single Banxso account is enough to access various platforms offered by Banxso, including Banxso X, MetaTrader 4, MetaTrader 5, and the mobile platform. Once the users have completed every step involved in the account opening process, they are free to trade in the market of their preference.
As the platform is focused on simplifying the financial market, it essentially brings two types of accounts to the users. They are,
- Demo Account
- Live Account
Account Opening Process
This portion of the review brings a step-by-step guide to opening a trading account with Banxso.
- Personal Information – The account opening process begins with the trader providing personal details, including name, contact number, country code, email, and the password for the trading account. Once the process is complete, the user is given provisional control over the account.
- Completion of Details – The user on the next level would be asked to give more information regarding the location, preferred currency type, and other details.
- Verification – Access to the Banxso wallet is provided after the user verifies the financial details with their Banxso Account Manager. The user has to send an email regarding the wallet activation. Once the verification is complete, the user can deposit money into their Banxso wallet.
- Investment Preferences – Upon completing the levels mentioned above, the user is permitted to view the dashboard from where the assets can be accessed with information about market fluctuations.
- Trading – Once the deposit of user money into the wallet is completed, users can participate and invest in live trading. In Banxso, the buying and selling of assets are just a click away with a well-constructed interface to bring essential information. So, even users who are just starting out in the world of trading would have no difficulty in participating.
Providing a tailor-made trading atmosphere is one of the promises made by Banxso. For this reason, the platform experiments with and has developed a variety of tools empowered by Artificial Intelligence and Proprietary Algorithm. Banxso had created different trading platforms to suit the specific trading needs of users. The following are the different trading platforms offered by Banxso:
- MetaTrader 5 – This platform brings the tools of MetaTrader 4 beyond the forex market into various kinds of trading investment options. With a multi-threaded platform and multi-currency tester, this platform brings offers from across markets.
- Mobile Platform – The Banxso mobile platform brings all the features and peculiarities of a desktop platform to the palms of users. The uncomplicated interface and easy-to-go model of this platform make trading simpler and easily accessible.
Besides the efforts taken to ensure the security and accessibility of the trading platform, Banxso also invests much interest in educating the users who are just beginning to trade. Banxso Education is a service brought to every user of the platform free of cost. The courses cover various aspects of trading in financial and commodities markets. There are no time constraints and the courses can be accessed anytime by users. Banxso has also established a knowledge center that contains materials on various aspects of trading and exchange by experts in the field. Moreover, this feature is compatible with all devices, like desktops, mobile phones, and other hand-held devices.
Furthermore, users are given the opportunity to receive consultations from the experts through vis-a-vis interactions. This helps them bring about user-specific questions and prepare clear frameworks and goals for online trading. Apart from the learnings, the users have a better understanding of the risks involved in online trading through these courses and consultations.
Banxso Review- Customer Support
When directing a business model towards a nascent customer base, customer support gets prominence for earning a reputation. Prompt customer service is also an indicator that the firm is concerned about the well-being of the customers. For the same reason, Banxso has a customer support system that provides assistance to traders on different levels. The live chat and telephone facilities help users to get instant solutions to their queries and problems. Banxso also has email support which usually gets answered within 24 hours of being sent. Besides these facilities, users can also visit the Banxso Representative at the local embassy. However, this is limited only to traders accessing the platform from South Africa.
Is Banxso a beginner-friendly platform?
Yes. As a matter of fact, Banxso primarily operates with the intention of widening the trading circle, making it an all-inclusive field. It opens the gates for even novice traders to reach the opportunities of financial markets and other investment options, including cryptocurrencies.
What are the assets offered for trading by Banxso?
Traders can access around 8000 different assets stretching from foreign exchange to cryptocurrencies through Banxso. Once deposited, the users’ money can be invested in fiat currencies, stocks of prominent firms, profitable indices, commodities including energy, metals, fuels, livestock, etc., and cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and more.
What are the countries supported by Banxso?
Banxso has business associations with more than 150 countries. The trading platform offers its financial services to virtually all residents outside the European Union. Yet, there is a small list of countries where the services offered by Banxso would either be unauthorized or against the extant laws. The list includes the residents of countries such as Australia, Canada, Cambodia, Cuba, Iran, Ghana, India, Israel, Mongolia, New Zealand, Nigeria, North Korea, Pakistan, Panama, Philippines, Yemen, Syria, United Kingdom, and the United States of America.
- Offers an integrated platform to access a variety of assets such as Forex, stocks, indices, commodities, and cryptocurrencies.
- Banxso supports a large number of cryptocurrencies which gives the users a regulated environment to trade crypto.
- Despite having one of the most prompt customer support services in the trading business, the Banxso customer service operates only 5 days a week. This might come as a shock for users who keep trading as a side-hustle for the weekends.
- The platform is not able to establish itself in some of the larger economies of the world as its services are affected due to the existing laws in some countries.