What Is Banxso?

Online trading platforms are all the rage these days; with the growth in self-directed trading by retail growing in demand, having trading platforms you can access on your desktop or smartphone has grown in popularity.

Investing today is no longer about sending an email to a broker or passively buying index funds or stocks through your local bank, yes this does still occur and makes up a large portion of the market, but when we look at younger demographics, they tend to want to get more involved in their finances.

Self-directed investing, day trading and speculative bets are not commonplace, and there is a platform for everyone; some cater to entry-level retail investors, while others focus on a more sophisticated crowd.

If you are looking for a broker to trade with, you will usually struggle to find the right balance between features for veteran traders and accessibility for newcomers. That's just the name of the game; choice provides you with options but also complications.

So who do you go with? Who do you trade with? Who do you deposit money with? Do they have the assets I want to trade? Can the list of qualifying metrics be as short or as long as you like?

If you're sitting with these questions and dealing with the anxiety of making a choice, I'm here to help you novice traders find a suitable platform for yourself.

I searched the web thoroughly and regularly take trading platforms for a spin.

In this review, I will break down a new service I started using called Banxso; I will go through how this platform gives individuals a complete trading experience and what it does best. I will talk about the Banxso broker platform and its various features and functionalities that are designed for the needs of new and inexperienced traders.

First of what or who is Banxso?

Banxso is an award-winning South African trading platform; it is a regulated South African multi-asset brokerage company that focuses on providing financial services such as Forex, stocks, commodities, and Cryptocurrency.

Banxso is also the official trading partner of the South African National Football Team, Bafana Bafana, so if you back the boys, you might want to do some banking with Banxso, right?

Banxo's key selling points are:

• 8.7% Interest on Equity
• Regulated by CySEC, FSCA
• Over 8,000 Trading Assets
• Diverse Trading Platforms
• Strong Security Measures

Simple User Interface and High Compatibility

To kick off my Banxso review, I will discuss the interface and compatibility of this online platform, which are important aspects for new traders.

Beginners and starters want a platform that is designed with easy-to-use features and functions so that they can learn to use it quickly.

If it takes individuals a lot of time to get used to a specific trading platform, then they are more than likely to bounce off to a new platform. For this reason, the Banxso trading platform is designed with a simple user interface for new users.

While using this online platform, beginners don't have to buy a new device as it is highly compatible with multiple devices and operating systems. It can be used on any laptop, tablet, or smartphone.

Basic-Level Trading Account Options

Most trading platforms are made specifically for professional traders, which means that newcomers will have to go through a steep learning curve. So along with not having a dedicated beginner account, but the account tiers will also have a much higher barrier to entry.

These accounts are not just costly but are also complicated for new traders to use. However, this is not the case when using the Banxso broker platform, as it has created a wide variety of trading accounts.

It has a diverse selection of user accounts for different levels of traders, which include some beginner-friendly options.

Their lower levels of accounts are ideal for novice traders as they come with simple features. They are also quite affordable compared to other account levels.

Trading Tools and Training Sessions

Banxso trading platform comes integrated with a variety of essential tools so that users don't have to try to look for a new platform. It has basic trading tools like a currency converter for accurate values.

Using these simple tools, traders can also set important dates on the digital calendar for upcoming market events. These trading tools are designed with simplicity so users can learn to use them quickly.

After you're done signing up and creating your account, you can start trading. But how are you going to do it if you don't have any experience beforehand?

Well, don't worry, as the Banxso broker platform has the option for training sessions by professional traders.

Library of Educational Resources and Materials

Besides providing all these helpful features and functions, the development team of the Banxso trading platform has also built an entire library of educational content.

This library includes various eBooks, guides, tutorials, articles, and other learning materials. Beginners can use these insightful materials to learn both basic and complex concepts surrounding trading.

They can read detailed ebooks or use step-by-step guides to learn forex, stock, crypto, indices, commodities, and many more types of trading from scratch.

They can also just go through short informative articles or watch video-based tutorials to learn things more easily and precisely.

Is Banxso a Scam or Legit?

Besides these beginner-friendly features and functions, I will discuss some cybersecurity measures that the platform offers, too.

This broker website verifies each user who signs up as a trader and flags any activity that seems suspicious to prevent illegal and nefarious activities.

It also encrypts traders' personal and financial information to reduce the risk of data and identity breaches.

Considering how it authenticates traders when they log into their accounts to prevent any unauthorized access, this platform looks legitimate to me.

My Final Take on My Banxso Experience

To conclude my Banxso review, I'd say that this online trading platform is a pretty good option for new and inexperienced traders. It is designed with easy-to-use features and functions and has high compatibility with multiple mobile devices to keep things simple for users.

It has basic-level trading account options that are ideal for beginners and starters. It comes integrated with all the essential trading tools and has the option for both private and group training so new traders can develop their skills.

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Recommended reading

If you enjoyed this post and have the time to spend diving deeper down the rabbit hole, then we suggest you check out the following posts about improving your finances in South Africa.

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Tags: Investing, Trading, Guest Post