Exploring the Variety of Banxso Account Types
Traders can choose between eight commission-free Banxso account types.
Banxso Account Types
Banxso Account Types Features | Banxso Intro | Banxso Basic | Banxso Plus | Banxso Extra |
|---|---|---|---|---|
Minimum Deposit | $250 | $1,000 | $2,500 | $5,000 |
Minimum Forex Spreads | 0.8 pips | 0.8 pips | 1.6 pips | 1.6 pips |
Commissions | Commission-free | Commission-free | Commission-free | Commission-free |
Maximum Leverage | 1:200 | 1:200 | 1:200 | 1:200 |
Minimum Trade Size | 0.05 lots | 0.05 lots | 0.05 lots | 0.05 lots |
Account Base Currencies | USD | USD | USD | USD |
Banxso Account Types Features | Banxso Advanced | Banxso Premium | Banxso Exclusive | Banxso Extra |
|---|---|---|---|---|
Minimum Deposit | $10,000 | $25,000 | $100,000 | $250,000 |
Minimum Forex Spreads | 1.2 pips | 1.2 pips | 1.0 pips | 0.8 pips |
Commissions | Commission-free | Commission-free | Commission-free | Commission-free |
Maximum Leverage | 1:200 | 1:200 | 1:200 | 1:200 |
Minimum Trade Size | 0.05 lots | 0.50 lots | 0.50 lots | 1.00 lots |
Account Base Currencies | USD | USD | USD | USD |
How to Open a Banxso Account
A three-step online application handles the Banxso onboarding process for all account types.
A Step-by-step Guide to Opening a Banxso Account
1. Click “Register” on the Banxso homepage.
2. Banxso asks for your name, e-mail address, phone number, and desired password. Follow the on-screen instructions and finalize the application by clicking “Sign Up for Free.” Banxso will send a confirmation e-mail.
3. Account verification is mandatory, as Banxso complies with global AML/KYC requirements. A copy of a government-issued ID and one proof of residency document suffices to pass verification for most traders. Banxso may ask for additional documents on a case-by-case basis.
Restricted Countries
- Banxso does not provide a list of restricted countries but explicitly states that US-resident and Canadian-resident traders cannot open accounts.
Banxso Account Features
All Banxso account types offer some identical features, but higher deposits receive value-added services. Trading costs differ notably, and traders should evaluate them before anything else.
Features Available with All Banxso Account Types
Every Banxso account type offers traders the following:
- Success Manager
- Social Trading
- Educational Videos
- Welcome Bonus
- Refer a Friend Bonus
- Signals Newsletter
- Trading Central
- TipRanks
- User-friendly account application
- MT5 trading platforms
- Algorithmic and copy trading
- Maximum Forex leverage of 1:200
- Negative balance protection
- AutoBanxso for code-free algorithmic trading
- Cooma Social for copy trading
- Unrestricted, customizable demo accounts
Differences Between Banxso Account Types
The primary differences among the Banxso account types are the Forex trading fees.
Here is how the Banxso account types differ:
Banxso Account Types Features | Banxso Intro, Basic, and VIP | Banxso Plus and Extra | Banxso Advanced and Premium | Banxso Exclusive |
|---|---|---|---|---|
Minimum Deposit | $250, $1000, $250,000 | $2,500, $5,000 | $10,000, $25,000 | $100,000 |
Minimum Forex Spreads | 0.8 pips | 1.6 pips | 1.2 pips | 1.0 pips |
Commissions | Commission-free | Commission-free | Commission-free | Commission-free |
Total Fees per 1.0 standard round lot | $8.00 | $16.00 | $12.00 | $10.00 |
Banxso Account Pros & Cons
Consider the pros and cons of the various account types before choosing one.
Pros of Banxso Account Types
- MT5 trading platform is offered
- Algorithmic and copy trading support
- AutoBanxso for code-free algorithmic trading
- Cooma Social for copy trading
- 1:200 maximum leverage with negative balance protection.
- Balanced asset selection
Cons of Banxso Account Types
- Complex account structure
- Upselling of better services for higher deposits.
Bottom Line
Traders can choose between eight Banxso account types, and the minimum deposit dictates trading fees and value-added services. All Banxso account types offer commission-free trading.
FAQs
How do I withdraw money online?
Verified traders can withdraw money by logging into their secure back office and requesting a withdrawal.
What is the interest rate for Banxso?
Traders can earn an unusually high 8.70% annual interest rate on the entire account balance, as stated by Banxso during my Banxso account types review. I have not reviewed a broker with a competing offer.
Is Banxso regulated in South Africa?
The South African Financial Sector Conduct Authority (FSCA) regulates Banxso under license number 37699.
What is the minimum deposit for Banxso?
The Banxso minimum deposit is $250.
Is Banxso a legit company?
Banxso is a legitimate company that complies with six regulators.
