Banxso Review – Comprehensive analysis of banxso.com?

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External Analysis

In the ever-evolving landscape of financial transactions and investments, exercising caution and thorough research is paramount before committing your assets. In this analysis, we will conduct a comprehensive examination of Banxso, providing valuable insights for individuals contemplating investments with the firm.

Banxso exhibits notable similarities to now-defunct South African trading entities such as Oinvest and Primefin. These companies, once brimming with potential opportunities, eventually faced demise. The common thread among them lies in the utilization of auto traders, including immediate momentum, bitcoin code, ethereum code, and immediate edge. It is noteworthy, however, that Banxso does not explicitly mention these automated trading robots on their official website. South African regulations explicitly prohibit companies like Banxso from offering such automated trading solutions.

Internal Analysis – Regulation & Investor Protection

Banxso asserts its status as a registered and regulated entity under the Financial Sector Conduct Authority (FSCA) No: 37699 in South Africa. Nevertheless, it is crucial to acknowledge that Oinvest, a previously registered company, faced insolvency without ensuring investor protection. Authorities may remain inert in the face of fund losses. While Banxso pledges the flexibility for investors to withdraw funds at any time, the stark reality is that withdrawing profits or amounts exceeding the initial investment might prove challenging.

  • Banxso proudly showcases its role as the official sponsor of the national team Bafana Bafana. However, it is imperative to recognize that sponsorship alone does not guarantee credibility. Oinvest, which also sponsored Kaizer Chiefs, serves as a cautionary example of how sponsorship affiliations do not necessarily ensure the safety of your funds.
  • Banxso’s alignment with prestigious media outlets like Forbes, Business Insider, Fast Company, and GQ might create a positive impression. However, it is crucial to exercise discernment, as articles on these platforms can often be bought. Oinvest followed a similar trajectory, featuring in articles on investing.com before abruptly ceasing operations and departing with investor funds.

Despite any claims of an enduring presence in the market, Banxso’s domain was registered on 17/02/2021.

This relatively short period on the market raises legitimate concerns about the company’s experience and overall stability. Investors should carefully evaluate the implications of Banxso’s brief tenure in the financial landscape before making any investment decisions.

Our Verdict on Banxso

In conclusion, our thorough examination of Banxso reveals a myriad of red flags that warrant careful consideration for potential investors. The echoes of past defunct South African trading companies, regulatory ambiguities, and a brief market presence all contribute to an overall sense of caution. While Banxso may boast sponsorships and media affiliations, these alone do not guarantee the safety of your investments. The absence of transparency regarding automated trading robots, coupled with concerns about investor protection, underscores the need for prudence. In light of these findings, we advise potential investors to proceed with caution and carefully evaluate the risks associated with engaging with Banxso in the dynamic realm of financial investments.

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    7 COMMENTS

    1. The efficiency impressed me with which my initial query was managed. Soon after my introduction I had a call from a success manager who seemed to express interest in me being a potential investor and with that came the explanation of how the Banxso strategy is implemented. Also the availability of the success manager’s expertise to guide me with caution and prodding was, initially, impressive. I decided to commit to a single transaction more than half of my savings. What a disaster. The first day I made R6000, but a few days later emails flooded into my inbox to recharge my account. My success manager arranged an emergency meeting with a senior analyst. The additional funds deposited, supposedly to rescue me were lost within the space of less than a day. Again, a disaster, a bad experience to say the least! Can you make money with Banxso? No doubt. Yet, if you are new to trading, be aware that you do not own shares of any kind. Trading is based on you predicting whether the share you wish to follow on the trading market will go up or down, and trade accordingly. This type of trading demands a lot of research information to discern possible market movement and trends. Here the success manager is supposedly to serve as a guide to caution and prompt. Not least, electricity load shedding also did not help, as it kicked in as I was about to set limits to my trade, guided by my success manager. A timely caution would have saved me most of my savings.

    2. This post is to warn new traders about Banxso. Myself, my wife and my daughter invested money at Banxso to do some day trading. But what we got was a company that cleans you out of all your money.We transferred an amount over to Banxso to open our platforms to trade. The first month the trades did well, and we were making profit. Sadly, this did not last but every day they will phone you to deposit more money to hold the trades. After I told the success manager that all I have is with them, he called me and said that I was greedy and that is when everything really turns around to lose. They started giving us trades that went so high into losses together with their swaps, their swaps finish you before you can get profit, and we lost all our money. We started trading around June 2023, and lost around R700 000 in just 4 months. JUST TO BE CLEAR, THE SUCCESS MANAGER GAVE US ALL THE TRADES, WE DID NOT OPEN OUR OWN TRADES. My account was closed all funds were lost to their bad trades. Our Success Manager arranged an emergency meeting with a senior analyst after I enquired about my account that was closed by them. They close your account without warning and instead will ask for more money to be deposited. They deposited additional funds into the account, supposedly to rescue me, even this was lost within two weeks. Again, they gave the trades that made no profit and swaps drained the funds. My account was closed again. The funds that they transferred to my platform to help rescue the account was only to stop me from going to social media to warn people against Banxso. We are accountants and we are submitting this to our financial boards and FSCA to investigate Banxso.

    3. I put a lot of my savings with Banxso hoping to grow it but it went the other side. Their swops finishes you before you make profit and by the end of the week you can loose a lot of money due to swops which reduces your free margin on daily basis. What puzzles me again when you close the trade you are still charged the same amount which they have already deducted from your free margin. For example lets say you have NASQAG trade which is not closed on the day without fail they will deduct an amount lest’s say ZAR500 including weekend because on Wednesday its triple to cover for weekend that’s what I was told when I enquired about it and if you keep for the whole week. When you are closing the same trade ZAR 10500 will be ducted from your profit. I was also told the less amount you deposit the heavy your swops will be .I tried to enquire why is it deducted twice but until now I don’t have a clear answer. Last week I had NASDAQ mini opened I remember looking at the chart the market value was ZAR 16129 and on my open trade it was ZAR15884 I enquired again why there is a difference. I was told its the spread that how the company makes money especially when your balance is low so in other words when you open a trade you are doing it at higher price,your market price on your open trades is lower than the market price and the swops which grows more than your profit and deducted twice from you with a low balance chances of you making profit is nill but end up loosing everything. I was told some trade don’t have swops tried to go for those once but after a week swops were introduced on every trade without any notice. Also when you go to chart it gives you the information whether the trade will expire I had Russel opened and on the chart didn’t show expiry date not sure but on Monday it was automatically closed at 1:00 am the opening of market day.I know what was my free margin was about ZAR 32000 and my total equity was about ZAR45000.I had less than ZAr 14000 on used so if it didn’t expire I am not sure how was it automatically closed causing my whole account to be closed My advise to anyone who wants to trade if you have less than ZAr100000. your charges will be high and you will end up miserable just like me .I am saying this statement because I was told the less balance you deposit the more charges you get

    4. I looked for a trading platform with AI to guide me in making decisions. No sooner had I registered with them, I got a call from a very friendly account manager called Fayaz. He put me in contact with success manager. I had deposited R 11000 to get the hang of trading and wanted to learn more. Long story short, I was asked to deposit at least R 100000 which I did, explaining that that was all I could afford so had to be careful. He put me into a short position on Silver. As he left the call, he told me to watch out for his call price which was 4336. so being shoved into the deal so quickly made me double check on my position a bit later only to see that the position was short, but 4336 was above my purchase price! so I called them and left two urgent messages after holding for a long time, sent three emails with URGENT written all over them. when I got no response, I decided that since his close was at 4336 I should sell and get into a long position. well as I did that the market tanked. when It did, some time later I got the call asking why Id changed my position. I told him. He apologized and said he meant 3336!!! so he requested that I deposit another 25k NOW to save the position. So, I did. the next day it carried on falling. I suggested taking a loss and getting out. He said no I should deposit more funds to keep it open. (I also noticed a R 6800 swap fee that I had no idea was chargeable). just before the position was about to close out i Managed to get hold of him again after leaving urgent messages. He said OK, you’ve kept your side of the bargain, I’ll make a plan to keep the trade open. Ill call you at 5 pm. he called me after 6 pm, and put down the phone, then I looked and saw 130k had gone down the drain! no assistance as he promised. I haven’t spoken to him since. now I get a retentions officer. He has promised me assistance, as long as I deposit ANOTHER 50k. now that I’m gun shy after that loss how do you think I’m going to react? All in all, IF ONLY I could have contacted that success agent, he would have left me in the short position and it would be a different story now, But I couldn’t get ANY assistance from anyone, until it was too late. Oh, and also don’t pull funds out of your credit card, that is very bad advice and should actually be reported to the FSCA. it is simply wreck less advice. When I said I was short of funds he said use the credit card!! no ways. They are registered so The FSCA needs to be aware of these guys asking people to use credit to invest!

    5. In October 2023 I deposited R5K into my Banxso account as I am brand new to trading and just wanted to try it out with a small amount of money. I was promised that I will be assisted all the way and that they will “hold my hand” until I am comfortable, however I needed to deposit more funds to make my trades profitable. I then deposited a further R350K into my Banxso account. First I was promised a 8.7% interest on my funds, to this day, that has never happened. Second, they were quick to help me open trades and then just leave me to deal with those trades as I saw fit, knowing very well that I had NO experience in trading. The only trade I made a R40K profit on was in a multi day trade and there the swap fees (which no one told me about) depleted all my profit and I made a total of R5K profit on that trade. At this point I have only opened a few trades and I have lost over R100K in trades. When I started complaining about how I was being treated, no transparency, no guidance, no training on the platform to understand the workings of it and the reckless management of my account and my money, only then was I given the opportunity to attend webinars and one on one training… However, since then, no assisted trades… Now I am expected to trade on my own, still with limited experience and the fear of losing more of my money to bad trades. I have been handed from one (un)success manager to another and yes they make empty promises about calling, getting back to you, following up on queries and complaints… The R100K I lost was not just savings, this was money I needed to survive on, I was trying to make a passive income as I am unemployed, they knew this and still they felt no shame just leaving me on my own. Oh and when I complained, I was told that I could have closed the trades at any time, I chose not too until they were in a loss. How should I have known when to close a trade if I don’t know how to read the market, the trends, the technicals, the news, or even understand how a candle work

    6. I just want to say thank you to all of the people above, sorry that you lost allot of money. I clearly won’t be investing in this. As this is not even why I got this far. I thought I was signing up to Elon Musk’s new Crypto currency platform, then this guy from Branxso called which was part of the process, but his storey & the information from the Elon Musk video didn’t add up. So now I am even more glad that I decided to check out Branxso.

    7. Sadly I am in the same boat as you but do not plan it leave it here. I will do everything in my power to challenge Banxso to pay back my lost funds.
      For those who would like to contact me me my email address is ************************

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