Banxso Review: The Next Big Thing for Gen-Z Investors

Overview of the Online Trading Platforms

Standing in queues and hustling through the crowd to make an investment is no longer a necessity, we can now make investments at the comfort of our homes in this age of digitization. It’s that simple, all the assets you want to invest in are just a click away, and you can now access them from your computer or smartphone. This is made possible only because of the advent of online trading platforms as the internet took over the world in the 21st century. An online trading platform lists assets ranging from the traditional ones, like stocks, commodities, and forex, to the recent assets, such as cryptocurrencies.

Banxso-Platform-Interface

Facilitation is not the sole purpose of online trading platforms. They essentially try to democratize the opportunities, which stayed within an exclusive group that knew and ran the market for a long time. Aside from the access given to the assets, these platforms provide many features and benefits to help the traders. With just a smartphone and internet connectivity, you could get started with trading and investments. The platforms also defer from the usually seen jargonistic outlook and provide a populist interface with simplified operativity.

One such online trading platform is Banxso i.e. built with the notion of bringing trading opportunities, especially to the people and regions that lack any infrastructure for it.

What is Banxso?

Banxso is a forerunner in the race of online trading platforms with a solid motto and seamless service. The brokerage platform is based in South Africa, licensed and regulated by the South African Financial Sector Conduct Authority. Through Banxso, one can trade with several assets, and the list includes deals from the commodity market to the cryptocurrency market. The platform is equipped with several state-of-the-art technological features to offer prompt support to investors whenever they need it. The technological advancement together with an inclusive interface has also made it one of the most sought-after online trading platforms in the world. The platform helps investors to participate in business deals from more than 150 countries worldwide.

Features of Banxso

Online trading and brokerage is a competitive field, and a platform needs to look beyond the obvious to be highlighted from the lot. An investor’s needs go far beyond the access they get towards the assets. It is the assistance during an investment that makes the platform look distinguished from others. Banxso, for that matter, is a platform that is equipped with up-to-date technological advancements to help the users in every step towards their investment. The following are some of the distinctive features found on Banxso’s platform.

  • Trustworthiness: It is commonly believed that trust is earned and not offered, the robust team of Banxso works arduously to build trust among its clientele by providing the best and seamless trading experience. The way a firm holds itself through the years since its establishment will impact reliability. Banxso, for that matter, has been successful in providing a secure and beneficial trading environment to more than 150 countries.
  • Economical: Often the processing fees and service tax become the biggest problem during trading as these markets operate on a global level. Banxso is a beginner-friendly platform that offers a better deal for brokerage and processing compared to its competition. In addition to this, these policies are transparent and no extra charges would be added in the later stages.
  • Safety: Security would be the foremost concern for the trader that is putting in their hard-earned money. Especially, in a platform that involves an unregulated asset, like cryptocurrencies. Banxso is not an independent online site as it is licensed and operates under the supervision of the South African Financial Sector Conduct Authority. The traders will be in full control of their money on the Banxso wallet.
  • Absence of Complication: Banxso brings one of the most inclusive interfaces, which allows even novice traders to trade with ease. Trading on this platform does not need any disciplinary knowledge, being familiar with how the internet works are enough to begin trading on Banxso. However, the platform will contain standard risks that come with any financial investment.

An Overview of Tradable Instruments of Banxso

The number of assets and tradable instruments listed on Banxso exceeds 8,000. It offers the traders a user-friendly environment to trade efficiently with these assets. Now, the types of tradable assets available are listed from different markets, ranging from forex or stocks to the latest addition, cryptocurrencies. Through this listing, Banxso easily becomes an all-in-one platform for people that prefer to trade on these assets. The flowing portion of the article introduces various tradable instruments available on Banxso.

Forex

The portmanteau term forex refers to the foreign exchange market. The Forex market is the space for trading fiat currencies. It is considered very integral for a country’s economy as the forex value decides the country’s position on the global stage. The currencies are usually exchanged for various reasons, like tourism. However, being one of the largest liquid asset markets, foreign exchange is thought to be one of the best investment options where investors can trade in currency pairs, like USD/SGD, USD/INR, and EUR/USD. More than that, the forex market helps one to gain access to several global business opportunities.

Banxso-Forex-Trading

Commodities

Fuels, livestock, energy, and metals are some of the popularly known commodities one can trade on Banxso. The commodity market has taken different forms throughout history and is one of the oldest forms of trading currently available. Online trading and brokerage platforms, like Banxso, are the contemporary mode of facilitation for this traditional market. The trader, here, prognosticates the price of a particular commodity and invests in it. 

Banxso-Commodities

Stocks

Undoubtedly, stocks are the most popular tradable instruments found on any trading platform. Stocks or shares refer to a portion of a company that can be bought or sold in the share market. The companies that bring value to their customers receive heavy investments. The trader here predicts whether the price of a particular stock will go up or down and invests its money. Banxso has listed prominent stocks, like Apple, Ford, IBM, and Tesla, among others for trading.

Indices

The next type of asset refers to a particular type of investment where the trader invests in a group of stocks known as indices. Here the focus shifts towards a significant portion of the economy instead of a particular company. NASDAQ, SP500, and NIFTY are some of the well-known indices listed on Banxso.

Banxso-Indices

Cryptocurrency

Cryptocurrencies were introduced in the late 2000s and emerged as one of the biggest successes in the financial market. Two decades later, today, Bitcoin is considered one of the best stores of value by expert traders. One of the popular altcoins has also shown potential in the market, particularly after the pandemic. Bitcoin, Litecoin, Ripple, and Dash are among the few coins available for trading on Banxso.

An Overview of the Trading Platforms on Banxso

Banxso puts its customers first and has developed an environment that contains several tools and instruments that enhance the customer’s investment experience based on their preferences. The trading firm is a multi-platform environment where one can choose the platform based on the market they are interested in. The nature of investment does not stay uniform across all the markets. Likewise, the nature of the assistance and the solutions needed also change with the market of investment. So, Banxso has designed several platforms with tools tailor-made for specific circumstances that may emerge during the trading. The following list enumerates the multiple trading platforms available on Banxso.

Banxso X

Banxso X is the principal platform for trading on Banxso. It is a platform designed particularly for helping out novice traders with its simplified outlook. The key point that is different from the jargonistic interface one usually witnesses on a trading platform, Banxso X offers the basics of trading to start with online investment. The educational and consultation tools help the traders when there is difficulty or confusion about what to invest in.

MetaTrader 4

After learning about the nooks and crannies of online trading, the traders can move up to advanced platforms, like the Meta Trader 4. This platform is designed specifically for the Forex market with analytical tools and other features of calculation. Using this platform, the traders can easily draft the models of other investments and set automatic actions. Additional features, such as delegation and duplication, enable the traders to invest in their stocks securely.

MetaTrader 5

This is still an in-progress project that expects to bring the advantages of Meta Trader 4 beyond the forex market. The tools would be modified to suit the trading of various kinds of assets on Banxso. The meta trader 5 is equipped with tools like the multicurrency tester and multi-thread features to make the experience on Banxso beneficial for the traders.

The Banxso Mobile Platform

The mobile platform helps the traders access the features of Banxso on the go. The simplified interface of the mobile platform imitates the features of a desktop site without compromising any of the advantages. Cross-platform communication offers the trader an update about their investments, which further helps them to act swiftly whenever there is a positive or negative market movement.

Banxso-Mobile-Platform

Trading CFDs on Banxso

CFD is the abbreviation of Contract for Differences. It refers to an advanced form of trading where the investors bet on the difference between the opening and the closing trading values of the assets. The trading of CFDs is virtual and agreement-based and involves no physical goods. This type of trading has gained traction on Banxso as it allows the investors to trade with various assets without having to own them, especially with regards to the commodities market where owning the physical goods would come with some overhead expenses. 

CFDs are very popular among investors on Banxso as an effective short-term investment option. Unlike long-term investments, the traders here anticipate the movement of the asset’s price to trade it, or not, as per how the value may change. The profit in CFD trading solely depends on the investor’s ability to sell the purchases right in time. The profits of trading CFDs can be optimized on Banxso through leverages and margin trading. However, trading in contracts comes with tax requirements and brokerage. which, if not understood properly, may result in a significant loss of one’s money.

Trading on Banxso

It can be stated without a doubt that Banxso is one of those platforms that offer ease of access to any number of assets and any kind of trade. An online platform should always have in store several strategies and objectives, as the people that use the platform would not necessarily have the disciplinary knowledge about finance and trading. These are a few of the aspects that make trading on Banxso better than other online trading platforms.

  • The AI technology on Banxso’s platform ensures that deals and transactions happen effortlessly with no place for any errors. The proprietary algorithm of Banxso oversees the operations and helps the investors easily get predictions and insights.
  • Banxso delivers the options for multiple platforms that suit the requirements of different market types. The tools that come with these platforms are designed with insights about what the investors would be needing. For example, the Meta Trader 4 trading platform comes with analytical tools designed to specifically suit the forex market.
  • The digital library on Banxso consists of articles, reviews, videos, and more material about market predictions. This knowledge center makes available the essential concepts of finance and investment free of jargon to help everyone understand them.
  • The digital analyst on the platform has the ability to bring tailor-made investment options as per the preferences of the investors. The goals would be better shaped with the digital analyst set in place increasing the chances for a better return.
  • The platforms of Banxso house some of the top-of-the-line technological aids, which assist the investors in every stage of their investment process. They enable the users to gain full control over their money and how they want to invest it.
  • Banxso also has features that encourage learning about finance and investments. The platform facilitates face-to-face consultation sessions with financial experts from all around the globe. 
  • The platform comes with 24/7 customer support that can be accessed through chat, telephone, or in-person. The service has a phenomenal rating with promptness in solving issues raised by the investors.

Educational Services & Investment Strategies by Banxso

We know that a profitable investment is a concoction of good knowledge and sufficient capital. That is exactly why Banxso offers learning and educational opportunities to the traders so that they can learn about different aspects and strategies of investment.

Learning on Banxso

  1. The Banxso trading platform comes with a depository of educational resources where one can find several articles, podcasts, and other kinds of materials to help clear their doubts regarding their investments and sharpen their trading skills. The depository is created solely to serve the investors and comes with no extra charges.
  2. The online courses and webinars covering various aspects of investments and trading are available on Banxso. These courses do not have a specific time requirement as they are uploaded and available for free. All the traders can access and listen to in their free time. 
  3. Although self-training comes with many advantages, some of the aspects need expert assistance to understand. Banxso’s panel of experts is available for the traders when they need them. These face-to-face consultations help get personalized trading answers that would come in handy during trading. This service helps one to learn especially about their previous mistakes and how to avoid them from happening again.

Trading Strategies

  1. Banxso allows the traders to invest with low-profit margins. This is a transparent deal that helps the users to deal with more assets to maximize profit.
  2. The tools available on Banxso allow for personalizing the investments that suit the goal of the client, may it be short-term, mid-term, or long-term.
Banxso-Tools

Is Banxso a Legit Platform Broker?

The con with brokerage platforms on the internet is that they often turn out to be unregulated or unreliable. So, what one must do as soon as entering the webpage is to ensure the platform comes under the jurisdiction and follows the laws and regulations of the region you reside in to avoid any difficulty in the future.

In the case of Banxso, the South African platform is regulated under the norms of the Financial Sector Conduct Authority. The brokerage firm is owned by a financial company, named Zenfin from South Africa. The firm, however, has no jurisdiction in any country from the European Union and a few other countries where the local laws obstruct the smooth flow of the financial services offered by Banxso. Unfortunately, the list includes larger economies, like the US, the UK, India, Canada, and Australia, among others. Nonetheless, the inclusive policies of Banxso help it to redirect its focus towards underdeveloped nations of the world that lack efficient trading infrastructures.

Banxso’s Customer Support

Banxso has a customer support system equipped with all the current technological aids. The system is responsive and has the solutions ready for almost all possible circumstances. There are 4 ways to access customer support on Banxso, which are as follows;

  1. Chat – The text-based customer support is the most popular and easily accessible of all. This AI-powered method helps one get the solutions without much trouble. However, it is optimal only for getting instructions and other not-so-serious issues.
  2. Email– The e-mails are an effective way to get personalized solutions on Banxso. Yet, it is not as fast as the text-based method. Because the solutions may take around 2 working days to reach you.
  3. Telephone – The best option for instant problem-specific solutions is the telephone. However, the telephone mode is available only on working days and at working hours.
  4. In-person– Although customer support can be accessed in-person from the Banxso headquarters, it is limited only to the residents of South Africa.
Banxso-Customer-Support

Conclusion

All the details are given above point to only one conclusion, that Banxso is simply one of the best trading platforms available around the globe. The fact that Banxso has no trading license to work in countries from the European Union may come as a shock to many. But what one should understand is that Banxso is able to focus on smaller economies that get slipped from the focus point of other brokerage platforms as they race towards the larger economies of the world. It also gives a noble cause to this trading platform as opposed to the business-oriented outlook of other popular sites. This motto of opportunity-to-all reflects in other aspects of Banxso, such as learning and investment.

FAQs

What are the wallet types available on Banxso?

Banxso primarily has a demo wallet that gets activated soon after the trader registers with the platform. The wallet comes with a sum of fake money that can be used during the simulations of the trading platforms. The procedures to activate the live account can be completed right after one finishes the simulations and gets confident about using the platform. The live wallet is universal and can be used across all the trading platforms on Banxso.

Who can trade on Banxso? 

Anyone over 18 years of age is allowed to trade on Banxso. The platform gives access to residents of nearly 170 countries. However, the residents of the European Union, along with a handful of countries cannot access the platform through their central banks due to legal restrictions. The small list of the banned countries includes the larger economies of the world, such as the US, the UK, India, and Canada, along with North Korea, Australia, Cambodia, Iran, New Zealand, Pakistan, Yemen, Panama, Israel, Syria, Nigeria, Ghana, the Philippines, and Cuba.