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. Verified traders can withdraw money by logging into their secure back office and requesting a withdrawal. 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. The South African Financial Sector Conduct Authority (FSCA) regulates Banxso under license number 37699. The Banxso minimum deposit is $250. Banxso is a legitimate company that complies with six regulators.FAQs
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