Overview of Online trading platforms
Trading and investment have come a long way in the last few years, along with the advent of various technologies. Writing bills amidst a bustling crowd or waiting in queues a whole day is no longer the case of buying and selling assets in an investment market. Everything has been made available from the comfort of our homes, which can be accredited to the online trading platforms. Investment is no longer a 9-to-5 thing as the platforms run 24×7 helping the traders be able to take instant actions regarding their investments as opposed to waiting for the market to open.
But, is that all there is to a trading platform? One should be quick to answer with a ‘no.’ Many online trading platforms out there intend to bring trading opportunities to people who lack the means to get to them. For instance, Paxful, a popular crypto exchange, is better known for its inclusive motto of ‘banking the unbanked’ and the banking projects particularly focusing on African countries. Likewise, Banxso is a trading platform operating on the same line but with opportunities not limited to a singular market. This article will bring some insights about the company and why it matters in the financial market.
What is Banxso?
Banxso is an online trading platform whose tremendous growth over the years, especially in developing nations, has caught the eye of the world of trading. Based in South Africa, this trading platform extends its services to not less than 170 countries to trade with various assets. Some of these countries are the smallest economies in the world. That is to say, Banxso’s modus operandi drifts it away from the larger economies and into smaller unattended markets. However, this is solely not the intended result as the model is a consequence of local laws and limitations in some countries that go against the policies of Banxso. Apparently, the platform has found the silver lining of this predicament and we can very well see that it has also adapted well to such a preamble. Moreover, the assets from the forex, stocks, commodities and the cryptocurrency markets have brought the number of listings on Banxso well over a whopping 8,000.
Features of Banxso
As said before, the usefulness of online trading platforms does not stop at the deals they bring to their users. The business model of online trading demands several more features to be brought to the users amidst a competitive environment. Banxso is easily one of the platforms that understand its customer base and tailor-makes the platform for it. Here is why the Banxso platform is considered to be among the best out there.
Security features of Banxso give the platform a solid foundation to operate smoothly. The accounts are verified, funds are regulated, and the platform is regularly audited to ensure security.
The motto of the trading platform provides its inclusive outlook. The platform operates to bring investment opportunities equal to that of professionals.
The platform is a simple, intuitive construct that carries no complications during trading. It helps to not be intimidated by the investment market.
The features are hard to list as they do not just stay with investment but extend towards education, inclusivity, support, and more. Most of these features would be discussed comprehensively in the upcoming portions of the Article.
Advantages of Banxso
Now the article comes to the million-dollar question, which is “why Banxso?” This seemingly short question cannot be answered in a few words. Hence, this article dedicates this portion to discuss in detail the advantages of trading on Banxso’s platforms.
- Banxso is a one-stop trading platform with various types of assets, such as forex, stocks and commodities. The platform even lists cryptocurrencies that seem to be getting a hold in smaller economies like El Salvador.
- The platform incorporates a learning atmosphere filled with materials on finance and investment from around the world. The available materials deal with forex to the latest development known as Cryptocurrencies.
- The interface of Banxso is AI-powered with no space given for human errors. It helps process the deals and transactions at a much faster rate from the platform’s side.
- The proprietary algorithm is designed based on the statistical data on the problems the investors are likely to face in a trading platform. It helps bring the solutions faster to users.
- Banxso has multiple market-specific platforms that tend to bring tools designed to help in certain situations. The forex platform called MetaTrader 4 has tools like drafting and duplication.
- The platform offers transparency in its fee structure and the fees too are lower by comparison. In addition, the platform offers a fee waiver for 3 months for every new registration.
- Highly motivated customer support is available at the demands of the investors active 24×7. The customer support has instant solution features with support from Artificial Intelligence.
Is Banxso Regulated?
The Banxso trading platform is owned by a South African finance firm known as Zenfin. Now, those who happened to know about it just now would naturally wonder about its credibility as the mother organization is hardly popular in the trading community. However, one can clear all such doubts about Banxso as it is legally licensed. This trading platform is regulated under the South African Finance Sector Conduct Authority, which is one of the credible supervisory bodies in the financial market. This licensing helps the platform offer its services to more than 150 countries.
However, there are few countries where the regional laws may stand in a clash with the policies under, which the platform works. The jurisdiction of this platform is also limited to just outside the European Union and larger economies, like the United States of America and the United Kingdom. The list includes other countries like India, Australia, New Zealand, Mongolia, Cambodia, Iran, Canada, Israel, Ghana, North Korea, Panama, Syria, Pakistan, Yemen, Philippines, Cuba, and Nigeria. Nonetheless, Banxso’s services are available to the residents of other countries than those mentioned above, entirely regulated and legal.
Overview of Tradable Instruments of Banxso
Banxso brings deals with multiple assets from across markets in the financial sector. The options for tradable assets on Banxso exceeds 8000 with different currency pairs, commodities, stocks, and more. The following are the tradable assets available on Banxso.
Forex is vital to a country’s growth and to establish a position on the global stage. The currencies are traded in pairs in the forex market on Banxso. For Example INR/USD, USD/SGD, EUR/USD, and more. The forex market brings domestic businesses overseas and the customer base can be acquired from other economies. Moreover, it is also a viable investment option where an investor trades against or with the flow of the currency.
Share market’s importance in investment does not need any separate explanation, as it is undoubtedly the most popular of the lot. Shares or stocks refer to a fraction of a firm that’s available for trading. One could invest in shares for long-term or short-term depending on investors’ preference. The price of a stock depends on the demand for it on the market, which is prone to change every day. ADOBE, 3M, AMAZON, APPLE, and Tesla are among the popular stocks available on Banxso.
Index trading is similar to stocks but refers to a group of stocks. Investors need to predict whether the value of the index would rise or fall. Unlike stocks, any change in the indices could result in a significant change in the economy. An index is a low-cost investment where one does not have to buy the stocks in question to trade with them. Banxso’s dashboard has listings of indices like NASDAQ, NIFTY, HENG SENG, SMI, and more.
Commodities can easily be stated as the oldest form of trading in vogue. The investments range from metal, like Gold, Silver and Aluminium, to livestock, energy, and fuels. Banxso has around 25 listings of commodities to trade with, including essentials like sugar, corn, wheat, coffee, and more. The real-world events affect these essential products and a well-timed purchase can bring better returns to your investments.
Cryptocurrencies are the newest addition to the financial market. These are decentralised assets that get the value entirely from the trust and support from the community. The coins with larger communities or following seem to have more value, like Bitcoin and Ethereum. However, it is not the only thing that affects the value of a cryptocurrency. Nowadays these currencies are trying to bring real-world utilities to their tokens, which could make cryptocurrencies more valuable than they are now. Bitcoin, Litecoin, Ripple, and Dash are a few among the cryptocurrencies listed on the trading site of Banxso.
Overview of the Trading Platforms of Banxso
An attractive benefit of online trading platforms, at least the popular ones, is that they come with multiple platforms. These platforms are designed for specific markets or purposes and enhance the investing experience, along with possibilities for great rewards. Banxso also has different platforms in its bag for investors to choose from. They are-
Banxso X – The primary platform on the platform is known as Banxso X. Designed for simplification, this trading platform is the best deal to kick start online trading. This platform also helps with the diversification of the trading atmosphere as per customer preferences. The simplicity does not affect the platform’s operations in any way as it is equipped with Al-powered analytical tools.
MetaTrader 4 – The best option for trading in the forex market out there is MetaTrader 4. It comes with specific improvements that come in handy during forex trading. The algorithm used on this platform offers just the thing needed to assess your investments and take measures with swiftness. The investigators can easily draft an investment model and set it for automatic action as per the market fluctuations. Due to the technical and analytical advantages MetaTrader 4 is widely preferred by forex brokers and trading platforms.
MetaTrader 5 – Next on the line of difficulty is MetaTrader 5. This edition goes beyond the forex market into other centralized and non-centralized areas of investment, like stocks, fixtures, and more. As the successor of MetaTrader 4, this platform comes with improvements like 64-bit processors, multi-threaded platforms, and others. Moreover, this platform supports multiple languages, which can be a good sign for a non-English speaking population in the investment market.
Banxso Mobile Platform – The mobile platform helps one to access their investments on the go. Without having to look for a desktop. This platform has optimized the features of a desktop platform to make it more accessible on the small screen. Moreover, a mobile platform cuts down the expensive requirements of online trading, like desktops, software and other subscriptions.
Overview of Trading on Banxso
No platform can offer only benefits leaving the risks out. What one must understand is that risks are a part and parcel of any investment, not just on trading platforms. However, these platforms have the ability to mitigate the level of risks by bringing in several options. The following are some of the aspects of trading on Banxso.
One of the perks of choosing Banxso is its low entry for trading. The price comparison shows that Banxso’s demands for minimum deposits are not as high as other popular platforms. It helps the traders to be involved in trading while being able to invest small amounts. A perfectly timed investment could bring millions for a nominal deposit while reducing the risks significantly.
The trading atmosphere is very much flexible and active 24×7. Except for some assets that would be available for trading only on working days.
Banxso offers the ability to change your goals for investment easily with the available tools. The properties of an investment can be easily modified with the help of analytical tools, be it long-term, short-term or mid-term.
Banxso allows margin trading on CFD. The costs do not go over the original price of the assets. It helps in maximizing the possibility for a great return for a small investment and lower fees.
Trading CFDs on Banxso
Contract for Difference or CFD is a popular method of investment on Banxso. This is a contract for derivative trading signed between a buyer and a seller. CFDs are a method of derivative trading whose value depends on the underlying asset on which the contract is signed. The profit level in this trade depends on the difference between the price difference between buying and selling. Banxso CFD trading is usually done in foreign exchange and commodities markets. Moreover, the platform allows the users to trade using leverages on CFD. These are low-profit margins offered by Bakxso to maximize the profit during CFD trading. Moreover, one can trade with assets like stocks, forex, commodities, and indices with CFDs. However, trading with contracts will attract taxes and other fees and it would be better to learn about local laws regarding CFDs before any investments.
Educational Services & Investment Strategies by Banxso
Learning is given due emphasis on Banxso. The educational facilities are directed towards the nascent customer base from smaller countries and others who are starting up with the investment market. The continual webinars and face-to-face consultations help novice investors with every crucial aspect of online trading. Starting up is made easy on Banxso in comparison to other platforms with a portion of the platform solely dedicated to learning.
Trading courses on Banxso are driven by a user-centric approach where the users get to choose the medium they are comfortable with for learning. The list includes written materials like books, journal articles and news articles and recent forms like podcasts, videos, and more. These courses come with no time constraints so that the users can freely access them without having to worry about scheduling their classes.
The Knowledge Center is a creative project by Banxso. The idea is to bring all the materials necessary for learning within the reach of the users. This accessibility is not just in terms of being able to access the files, but about making it intelligible to even a layperson. This depository of knowledge comes with no extra cost on the platform.
Banxso regularly conducts webinars and notifies the users of the platform about different programmes that bring innovative thoughts on finance and investment. It is a better way to get to know about the community of online trading and acquire practical knowledge from them.
One of the best proposals by Banxso is the facilitation of vis-a-vis consultations from financial experts around the world. These consultations help the users get perfectly fitted solutions for their problems. As learning on Banxso is mainly based on self-education of theoretical concepts, these consultation sessions help get insights about how to implement and what are the real-world consequences them.
Banxso Customer Support
One can never overstate the importance of customer support in a trading platform. Where finance involves, prompt customer service is a must for a platform to continue its success streak. Banxso, for that matter, comes with a customer support system that not just answers the calls during an error, but stays throughout their time on the platform to assist on any aspect.
The primary system is AI-powered, text-based customer assistance that is a click away. This AI model contains solutions for almost all the generic situations of difficulty. These solutions are prepared based on the user feedback on the platform and other forms of survey and input. The chat option would be available 24×7 and on all days of the week. If the user wants to get a more specific answer for their queries, email and telephone are other ways for communication. However, the mails take normally 2 days to receive an answer from the platform’s side. Telephone, on the other hand, is instant but available only on the working days of the week. Any in-person queries need to go to the Banxso headquarters and is limited to only the residents of South Africa.
Does Banxso offer benefits for new registrations?
Yes, Banxso offers a fee waiver for all trade instruments for the first 3 months after new registration. Even after the fee waiver expires, one does not have to worry about the processing charges or brokerage. Banxso brings one of the lowest and most transparent fee structures out there currently.
What are the types of accounts on Banxso?
Banxso’s demo account is activated as one completes the preliminary registration. The live account can be activated only after the verification process is complete. The demo account can be used to simulate trading prior to investing real money.
Does Banxso accept cryptocurrencies?
Yes, Banxso is, fortunately, one of the platforms that officially recognized cryptocurrencies and listed them on the site. According to Banxso’s statement, cryptocurrencies have become a major asset that no longer can be ignored. Bitcoin, Litecoin, Ripple, and Dash, are the popular cryptocurrencies available for trading on Banxso.