Banxso forex broker Review

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Clients

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Assets

250 USD

Min Deposit

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Avg Spread

Banxso

2.1/10

Since 2024

South Africa

Trust: 9.2/10

Visit

Contact Info

phone

+27104464170

Environment

High Risk

WeConnectFX Trade Rating Guide

At WeConnectFX, we are committed to transparency. Below is an overview of our proprietary trade rating system, which assesses brokers based on platform reliability, user trust, financial transparency, and operational history to ensure your peace of mind.

Rating	Label	Meaning
AAA	Elite	Exceptional transparency and trust with long-term consistency.
AA	Excellent	Highly reliable with minor improvement areas.
A	Strong	Performs well overall but may lack deep market credibility.
B	Average	Meets basic expectations, moderate user concerns.
C	Weak	Lacks consistent performance or transparency.
D	High Risk	Significant red flags or repeated user complaints.

Our WeConnectFX rating model uses broker performance signals, licensing history, global presence, and client feedback. It's designed to assist our users in evaluating the safety and service quality of trading platforms effectively.

Social Media

Banxso

Licenses

2 licenses

WeConnectFX

NO:100367

Financial Sector Conduct Authority

Financial Service Corporate

Regulatory Status

Revoked

Regulatory Jurisdiction

South Africa

Licensed Entity

Brands

Phone

License No

FSP 37699

Effective Date:

Attached Documents:

Sharing Status:

Exclusive

WeConnectFX

NO:100368

Cyprus Securities and Exchange Commission

STP

Regulatory Status

Unverified

Regulatory Jurisdiction

Cyprus

Licensed Entity

Brands

Phone

License No

Effective Date:

Attached Documents:

Sharing Status:

Exclusive

Country Availability

1 location

Country

Rating

Authorization

Status

South Africa

2.1/10

Authorized

active

About Banxso

Company Overview & Analysis

Banxso (PTY) Limited is a regional broker based in South Africa that operated with a White Label MT5 platform. The company is currently involved in legal proceedings regarding a provisional liquidation order and has had its main operating license revoked by the FSCA.

Headquarters

South Africa

Registration 0

Business Model STP

Risk Assessment

Status

Risk Overrun Yes

High Risk Yes

Client Feedback

Total Reviews 5

Performance

Influence Score 349

Contribution 21.10%

Account Types

Choose the best fit for your trading style

High Leverage

Overall Rating

2.1

Poor

Accounts Variant

Account Specification

Min Deposit

Leverage

Min Position

Stop Out

EA Support

Hedging

Scalping

Protection

Islamic

Trading Conditions

Commission

Platforms

Instruments

Reviews

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Anonymous User

7 months ago

Banxso is scamer broker ，is scamming more clients and his employee

Anonymous User

2 years ago

Trading with banxso and have a good experience so far

Anonymous User

3 years ago

Very Bad Experience, since I have join almost lost USD 400, after the current balance I will delete my account.

Anonymous User

3 years ago

I had a some money in my account that i had saved there more than a year there without trading and I don't know how was it possible but my account was managed by someone who i really don't know.

Anonymous User

4 years ago

Not too bad, I can barely earn some living expenses.