Just found their name on the web and I’m wondering if you think Banxso a legit broker?
Hi there, thank you for your message. I took a look at Banxso and it’s definitely not a scam broker. However, the regulation quality is not the highest as it has regulations from:
- South African regulator (FSCA)
- Cypriot regulator (CySEC)
- Seychelles-based regulator (FSA)
- Vanuatu-based regulator (VFSC)
- Mauritius-based regulator (FSC)
We consider UK FCA, and Australian ASIC among many others as the top-tier regulators. Banxso doesn’t have a license from any of this top-tier financial authority but has multiple licenses from off-shore regulators.
I hope this helps. Also, if you have any free time, we would really appreciate it if you can drop a review on BrokerChooser in Trustpilot: BrokerChooser Reviews | Read Customer Service Reviews of brokerchooser.com
If you have any other questions, please let me know.