Banxso Review · 2026

What is Banxso?

Banxso is an online trading brand that began operating in 2021 and has used several regulated and corporate entities. The current website identifies Banxso International with Éclat Technologies Limited in Port Louis, Mauritius. It describes the trading model as Straight Through Processing (STP), meaning orders route to third-party liquidity providers. The site offers forex and Contract for Difference (CFD) products, which track an asset without giving ownership of that asset.

The corporate picture has changed materially since the brand's South African launch. Banxso (Pty) Ltd previously held South African financial-services licence 37699. That licence is no longer active, and the South African company entered final liquidation in 2026. The website now presents the Mauritius entity as the operator for international services.

Where is the broker licensed?

Regulatory status requires separating current claims from former authorizations. The Financial Sector Conduct Authority (FSCA) finally withdrew Banxso (Pty) Ltd's FSP 37699 on 4 July 2025. The regulator said its investigation found material breaches of financial-sector laws and failures concerning client interests (source: FSCA, 4 July 2025).

The current website states that Éclat Technologies Limited holds Mauritius FSC licence GB23201707. The Financial Services Commission (FSC) is Mauritius's financial regulator. That specific licence claim could not be independently confirmed in the searchable FSC public records during the 22 September 2026 scan. The claim is therefore treated as not verified, rather than as an independently confirmed authorization.

Cyprus licence 413/22 also requires context. The Cyprus Securities and Exchange Commission (CySEC) register currently lists it under Nova Securities Ltd. The record identifies Bannxso Ltd as a former company name and lists nova-securities.com as the approved domain. It does not establish 413/22 as a current Banxso authorization.

What trading platforms does Banxso offer?

Trading platforms include Banxso X and MetaTrader 5 (MT5). Banxso X is the firm's proprietary platform, meaning software developed or branded for its own service. The current website also presents AutoBanxso, Cooma Social, and TipRanks as tools or platform-related services.

The website describes Individual, Joint, Demo, and Corporate accounts. A demo account uses simulated funds rather than real capital. The site also states that third-party liquidity providers execute trades. Platform availability does not by itself establish the regulatory status of the entity taking a client's deposit.

Banxso red flags and warning signs

Banxso's regulatory history contains several documented events that materially changed its South African operation. The FSCA provisionally withdrew FSP 37699 from 15 October 2024, then made the withdrawal final in July 2025 (source: FSCA, 4 July 2025). The authority stated that Banxso no longer met the fit-and-proper requirements for a financial services provider.

The FSCA imposed administrative penalties in December 2025 after its investigation. These included R2 billion jointly and severally against Banxso and two directors, plus a further R16 million against Banxso (source: FSCA, 9 December 2025). The regulator also announced penalties and lengthy debarments against other key individuals.

The Western Cape High Court placed Banxso (Pty) Ltd into final liquidation on 2 March 2026. The judgment recorded that the company had no licence, employees, operating premises, or active trading business. It also found commercial insolvency and loss of the company's business foundation.

What is the minimum deposit?

The minimum deposit shown in Banxso's current public material is $250. Its FAQ states that $250 is required to begin trading. The website also advertises higher account tiers, including a VIP level associated with a $250,000 investment amount.

Leverage is listed up to 1:200. Leverage means controlling a larger market position with a smaller amount of deposited margin. The published VIP conditions show spreads from 0.8 pip. A pip is a standard unit used to measure small forex price movements.

Is the broker on any regulator warning lists?

The main public record is stronger than a simple warning-list entry. South Africa's FSCA first announced an investigation in April 2024 and provisionally withdrew the licence in October 2024. It then finalized the withdrawal on 4 July 2025 (source: FSCA, 4 July 2025).

The regulator followed with enforcement findings on 9 December 2025. It stated that its investigation found misappropriation of client funds, false or misleading information, unrealistic return promises, and failures to act in clients' interests (source: FSCA, 9 December 2025). These are regulator findings, not conclusions inferred from customer comments.

What do user complaints say?

User-review data provides an additional signal, but it is not a substitute for regulatory evidence. The public user aggregate stood at 3.6/5 from 275 reviews during the September 2026 scan. Only two reviews appeared in the preceding 12 months, so the aggregate includes substantial older feedback.

Recent negative submissions describe payment discrepancies, slow transfers, and unanswered support messages. Older negative feedback also includes withdrawal-related complaints. These statements represent individual customer allegations and do not independently establish misconduct. The FSCA findings and court record provide the stronger evidence when evaluating the South African entity.

Withdrawal problems reported with the broker

Withdrawal processing is described differently across the broker's own pages and public user reports. Banxso's South African FAQ states that withdrawals are targeted for processing within 5-7 working days. The main FAQ instructs clients to initiate withdrawals from the account dashboard.

Public reviews include reports of delayed or incomplete payments, but individual submissions remain unverified allegations. The larger issue is the South African legal record. The March 2026 High Court judgment states that Banxso (Pty) Ltd's trading operations had ceased and client positions had been closed before final liquidation.

How to verify the broker for yourself

Licence verification works by matching the exact legal entity, regulator, number, and approved website. A brand name alone is not enough because one brand can operate through several companies. The following sequence separates those records:

1. Check the FSCA record for Banxso (Pty) Ltd, FSP 37699 and confirm its withdrawal status.
2. Search the Mauritius FSC for Éclat Technologies Limited and licence GB23201707.
3. Check CySEC licence 413/22 and compare the current entity name with the contracting company.
4. Match the regulator's approved domain against the website shown in the account agreement.
5. Check the legal name receiving deposits before relying on a brand-level regulation statement.

This process matters because the current CySEC record names Nova Securities Ltd, not the current Banxso operating entity. The Mauritius claim appears on Banxso's website but remained unverified in the FSC search conducted for this review.

How does customer support work?

Customer support is presented through the broker's website and account environment. The current site provides a support center, FAQs, educational resources, and contact functions. Some site pages state that support is available around the clock for specific products.

FXSharp has no currently verified general support phone number or email for the Mauritius operation. Public third-party profile information still displays South African contact details, but those details relate to the brand's earlier market presence. This distinction matters after the South African company entered final liquidation.

Where is the broker actually based?

The current operating address disclosed by Banxso International is Port Louis, Mauritius. The website names Éclat Technologies Limited, registration C201262, at 14 Poudriere Street, Premier Business Center, Sterling Tower. This is the location tied to the current international regulatory claim.

The brand also has a substantial South African history. Banxso (Pty) Ltd operated from Cape Town and held FSCA authorization before withdrawal. The High Court's March 2026 judgment states that the South African company had no employees or operating premises by the time of final liquidation.

Broker features and current verification status

Should you avoid Banxso?

Banxso's current risk profile is defined by unresolved regulatory continuity rather than by platform features. South African FSP 37699 is withdrawn, and Banxso (Pty) Ltd entered final liquidation in March 2026. The FSCA also issued substantial enforcement penalties after its investigation.

The website now relies on a Mauritius regulatory claim for Éclat Technologies Limited. That GB23201707 claim was not independently verified in the searchable FSC public record during this review. CySEC licence 413/22 currently belongs to Nova Securities Ltd and does not establish current Banxso authorization.

Banxso still publishes trading products, account types, Banxso X, MT5, a $250 minimum deposit, and leverage up to 1:200. Those operational details do not resolve the legal-entity and licence questions documented above. A current regulatory assessment therefore depends on matching the contracting entity to a regulator's live public register.

Forex and derivative products carry high leverage; some or all invested capital may be lost. This content is for information only, not investment advice. Verify the broker's current regulation status with the relevant authority's official site before any investment decision.