Understanding the Banxso Minimum Deposit Requirement

The Banxso minimum deposit requirement is $250. However, the rest of Banxo’s eight account types has a higher minimum deposit requirement, as Banxso upsells a better trading environment for higher deposits.

For additional up-to-date information in Banxso, read our full broker review.

Banxso Minimum Deposit Requirements Per Account Type H3

  • Intro - $250
  • Basic - $1,000
  • Plus - $2,500
  • Extra - $5,000
  • Advanced - $10,000
  • Premium - $25,000
  • Exclusive - $100,000
  • VIP - $250,000

The Banxso Minimum Deposit Overview

Traders can start with $250 but should read the account information on the Banxso website to learn what they will receive for a higher deposit and if they require the value-added services.

Minimum

Deposit
Banxso
Axi
InstaForex
Tickmill
Admirals

Commission-

Free
$250
$0
$1
$100
$100

Commission-

Based
N/A
$0
$1
$100
$100

The Pros & Cons of the Banxso Minimum Deposit

Before deciding which account type to fund, traders should consider the pros and cons of the Banxso minimum deposit process before making a deposit.

Pros of Banxso Minimum Deposits

  • Segregation of client deposits
  • No internal deposit fees
  • User-friendly deposit process
  • Third-party deposits

Cons of Banxso Minimum Deposits

  • No information on internal currency conversion fees.
  • Overly complex account structure.

How to Make a Deposit

Traders should consider depositing more than the Banxso minimum deposit of $250, as effective trading requires more capital than that.

How to Deposit Funds with Banxso

  • Log into your Banxso back office
  • Click “Deposit”
  • Choose the preferred payment processor
  • Enter your desired deposit amount
  • Follow the on-screen instructions

Banxso Deposit Fees and Deposit Methods

Banxso does not charge internal deposit fees.

Banxso Deposit Methods, Internal Processing Times & Transaction Limitations

Deposit Method
Processing Time
Deposit Currencies
Minimum Single Deposit
Maximum Single Deposit

Withdrawal

Option
Bank wires
Undisclosed
USD
$250
N/A
Yes
Credit/debit cards
Undisclosed
USD
$250
N/A
Yes
OZOW
Undisclosed
USD
$250
N/A
Yes
AstroPay
Undisclosed
USD
$250
N/A
Yes

Noteworthy:

  • The Banxso deposit screen lists all deposit methods, as geographic restrictions apply.

Banxso Deposit Methods vs. Similar Brokers

Deposit

Methods
Banxso
Axi
InstaForex
Tickmill
Admirals
Bank wires
Yes
Yes
Yes
Yes
Yes

Credit/debit

Cards
Yes
Yes
Yes
Yes
Yes
Skrill
No
Yes
Yes
Yes
Yes
WebMoney
No
No
Yes
Yes
No

China

UnionPay
No
Yes
No
Yes
No

Perfect

Money
No
No
Yes
No
No

Other

e-wallets
Yes
Yes
Yes
Yes
Yes

Localized

Methods
No
Yes
Yes
No
No

Crypto-

currencies
No
Yes
Yes
No
No

Banxso Deposit Currencies

Traders must know the difference between account base and deposit currencies to avoid confusion and potential currency conversion fees. The former is the base currency of a trading account, and the latter are currencies available for deposits through payment processors. Banxso does not disclose account base currencies or potential internal currency conversion fees.

Banxso supports the following account base currencies:

  • US Dollar

Banxso supports the following deposit currencies:

  • US Dollar
  • South African Rand

Banxso Trading Account Currencies Vs. Similar Brokers

Account Currencies

Banxso
Axi
InstaForex
Tickmill
Admirals
US Dollar
Yes
Yes
Yes
Yes
Yes
Euro
No
Yes
Yes
Yes
Yes
British Pound
No
Yes
No
Yes
Yes

Swiss Franc

No
Yes
No
No
Yes

Australian Dollar

No
Yes
No
No
No
Others
No
Yes
Yes
No
Yes
Total
1
10
3
3
10

Steps for Sending the Banxso Minimum Deposit

Making the Banxso minimum deposit is like online banking, and it is handled through the secure Banxso back office.

A Step-by-step Guide to Making a Minimum Deposit with Banxo

1. Log into your Banxso back office and click “Deposit.”

2. Choose your payment processor, enter your deposit amount, and follow the on-screen instructions.

3. Banxso notifies you once it credits the deposit to the trading account.

Bottom Line

The Banxso minimum deposit is $250 for the Intro account. Unlike most brokers, Banxso supports third-party deposits.

FAQs

How do I start trading with Banxso?

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After investing sufficient time in quality education, traders must open and verify a Banxso trading account. They can then download the trading platform, opt for the web-based alternative, or choose the mobile app before making a deposit to start trading.

What is the minimum deposit for Banxso?

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Banxso has a minimum deposit requirement of $250.

How do I withdraw money online with Banxo?

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Verified traders can withdraw money from their broker via the secure and user-friendly back office.

Is Banxso a legit company?

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Banxso is a legitimate company compliant with six regulators.

Is Banxso a good trading platform?

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Banxso offers equity traders with smaller portfolios a quality trading environment as it has 900+ fractional shares and ETFs. It also features AutoBanxso for code-free algorithmic trading, but traders should carefully consider trading fees and ensure they support their trading strategy.

DailyForex.com Team
By DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.