Banxso plans to operate in 4 countries by the end of 2022.
Banxso to offer trading in forex, stocks, CFDs and cryptocurrencies.
Banxso in South Africa to be regulated by FSCA.
Banxso in EU countries to be regulated by CySec .
Banxso in UAE to be regulated by DFSA.
Banxso in the UK to be regulated by FCA.
“Our ultimate aim is to make investing as fun as it can be profitable without eating into profits by taking commissions at every step and disappearing when they need support. ”As our slogan says, we're not your grandfather's bank. We're here to help our investors build a secure future with a secure account that covers all their investment needs.
Banxso Trading Platforms
Banxso offers trading in forex (including forex options), stocks, indices, commodities and cryptocurrencies . Traders may choose several trading platforms to begin trading the markets including Banxso X, MT4, MT5 and a mobile app platform.
The Banxso group also obtained licenses in Seychelles, Mauritius and Saint Vincent & Grenadines.
Many brokers in recent years targeted South Africa. It has been estimated that South Africa has over 150,000 traders with an average deposit of $740 (approx.).
There are over 40 forex brokers operating in South Africa at the time of this writing.
The number of traders that use their mobile for trading has been on a steady rise since since 2019. A sharp increase was seen in 2020 and 2021. Due to covid-19, many retail traders used their smartphones for trading, which contributed to the spike in mobile trading usage.
For mobile stocks trading, eToro is far head of its competitors in Europe. In the United States, Robinhoood still holds a large share of the mobile trading market.
