Is Banxso a legit broker?

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.
Thank you,
Tomi

1 Like