Active since Jan 2024
Stay far away from them. BIG **** Advertised on Facebook and price in ZAR. I placed an order but money deducted was more, It now showed in USD on the order. I tried to cancel the order, but without success. After a few days they auto deducted another amount from my bank account and then tried another amount.
I want to STRONGLY DISCOURAGE any person without any trading knowledge from engaging with Banxso. This was one of my BIGGEST FINANCIAL MISTAKES as I lost all my hard earned money traded and it was a lot. The initial reviews I read on Banxso were very positive and only afterwards the negative reviews (like my experience) followed. Banxso provides a Success Manager to you, and this was the biggest selling point to me (as I have no trading knowledge). This person is however not available via phone and only via their work email. So, a lot of times I could not contact them, or they did not respond to my email. Neither my Success Manager nor anybody else at Banxso ever asked me about my risk profile/appetite. So, the trades they advised me were extremely risky. Banxso is not transparent. Initially my trades were very successful, and I made money. Somehow no Swaps were involved in the initial trades. Then suddenly (without any explanation by my Success Manager or anybody else) Swaps were included (at a huge cost), and nobody explained this to me. Suddenly, I began losing money very fast and the only advice from Banxso was always to deposit more and more money.