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Banxso is a forex broker located in Mauritius, regulated by the Financial Services Commission (FSC).
Banxso accepts clients from all over the world, excluding USA and some OFAC sanctioned countries.
Forex broker offers the following underlying assets for trading.
| 30+ Currency Pairs | Based on major and minor world currencies. |
| 20+ Crypto Pairs | Based on various prominent coins and tokens. |
| 10 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 6 Metal CFDs | Based on Gold, Silver, Platinum, Palladium, Aluminum, Zinc. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 7 Soft CFDs | Based on Coffee, Cotton, Soybean, Corn, Orange Juice, Wheat, Live Cattle. |
| 50+ Stock CFDs | Based on shares of top-rated US companies. |
Banxso is a forex broker registered in Mauritius that offers trading on a range of assets. As most offshore-registered forex brokers, Baxso gives traders access to high leverage, allows deposits and withdrawals in crypto, and accepts clients from nearly all countries in the world.
One thing that separates Banxso from most other forex brokers we have reviewed is its reliance on Bitcoin (BTC) as a funding and withdrawal method. Bitcoin, as well as payment cards and bank transfers, are the only funding methods accepted by Banxso. This probably simplifies many back office functions for the broker, and could therefore be a good choice for a relatively new broker like Banxso to keep costs down.
In terms of trading instruments available, Baxso has a fairly standard offering with some 30 forex pairs, around 20 crypto pairs, a handful of commodities and stock indices, as well as single stocks from around 50 companies listed on American exchanges. Among the things that are missing, however, are assets like government bonds, many exotic (smaller) forex pairs, and a selection of stocks listed outside the US.
The instruments can be traded on either MetaTrader 5 (MT5) or the proprietary Banxso X. While MT5 is available in separate versions for desktop and web, Banxso X only exists as a web platform that can be accessed from computers, tablets or smartphones.
In addition, Baxso also supports Cooma Social, a copy trading platform that makes it easy to jump on the “social trading” bandwagon. By doing this, newer traders can become profitable more quickly by copying trades made by more experienced traders. At the same time, those that are already profitable can earn an extra income by sharing their trades with the community.
As a supplement to its social trading functionality, Banxso has also developed a trading bot it calls AutoBanxso. This is a bot that basically allows traders to take an entirely hands-off approach to the market, with the bot making decisions based on artificial intelligence (AI).
Banxso's structure in terms of account types is slightly more complicated than that of other brokers. The way it works is that clients are first categorized as either Classic, Platinum or VIP, and each of the categories offers different types of trading accounts. As of this writing, the structure is as follows:
Classic
– Intro account, with a minimum deposit of $300
– Basic account, with a minimum deposit of $1,000
– Plus account, with a minimum deposit of $2,500 and spreads from 1.6 pips
– Extra account, with a minimum deposit of $5,000 and spreads from 1.6 pips
Platinum
– Advanced account, with a minimum deposit of $10,000 and spreads from 1.2 pips
– Premium, with a minimum deposit of $25,000 and spreads from 1.2 pips
– Exclusive, with a minimum deposit of $100,000 and spreads from 1 pip
VIP
– VIP account, with a minimum deposit of $250,000 and spreads from 0.8 pips
All of the trading accounts offered by Banxso are so-called STP accounts, which means that there are no commissions on trades. The only trading cost is therefore the spread between buy and sell prices, which unfortunately is quite high for all clients compared to what some other brokers offer.
All in all, we believe Banxso has come a long way since it was first established in 2023. Everything about the broker indicates a high level of professionalism, and the offering is strong with multiple trading platforms, copy trading functionality, and even algorithmic trading bots available. The one problem we see, however, is that the spreads are rather high, but with all of the tools traders get access to here it could certainly be worth it.
