Banxso Artificial Inteligence trading.

I saw an adverti*****t on Facebook whereby you deposit R4800 to be traded with the assistance of Artificial intelligence. Liane Mannas was used in the Facebook add. The Adverti*****t stated that all South Africans now has the Opportunity to become a millionaire depositing R4800 and then Artificial Intelligence will trade on your behalf. I fell for the **** and deposited R4800. Immediately after i deposited the R4800 somebody from Banxso in Cape Town contacted me and advised me that they are opening an online trading platform account for me at Banxso and that a Wealth Manager will contact me shortly. I recall the same day the wealth Manager Mr Ace Kingston contacted me. I asked him several times to confirm that this trading is all automatic using Artificial intelligence as per the Facebook Adverti*****t and he then immediately told me that I must not be ridiculous and that it is impossible that you can become a millionaire with R4800 and then started telling me that he will guide me into huge money by trading CFDs and he needed me to deposit more money. He advised me that we are going to open a USD account as the South African Rand is going to be destroyed and he is going to open a Scalping account to take advantage of data on the Financial markets being released. I deposited my entire life savings into a Main ZAR account R1.5Mil approximately and about R200K into the scalping Account. The wealth manager then advised me to make trades on the main account and initially he made a lot of money on the main account. On the Scalping account some trades were placed and some money was made when Data was released from Financial events like the US Non Farm Payroll or interest rate data, however some trades did not go through and were in the incorrect direction of the market and made a loss with Swop fees being added every night at market closure. These swop fees Mr Kingston never advised me about. Eventually the swop fees added up to thousands of Rands and both accounts got in trouble. All trades at a loss in the scalping account had to be closed and the little money that was left in the Scalping account was transferred to the main account to try and rescue the dire state of the main account. I think from R200k in the scalping account there were only R95K left to transfer. During this initial run where lots of money was made one Friday Mr Ace Kingston advised me that he is leaving office and told me to let one trade on Palladium close on the Take profit and if it closes, I must open another trade same volume in lots and same Take profit. This trade on Palladium then made money however did not close on Take profit before market closed at 2300 Friday evening. Monday Morning Mr Ace Kingston was off sick, and I had to work. When I returned home and opened the account on my computer the single Palladium trade that did not close Friday evening ran into a R800K loss because the market reversed. I sat and watched the market all night till 23:00 and saw more and more and more of my money disappear. On Tuesday morning Mr Ace Kingston phoned me and said I must Immediately transfer more Money otherwise the account could Stop out and all will be lost!!!! I had already deposited my entire life savings into this account. I then sold the remaining shares on my South African share trading account all at a loss to try and save the Banxso account, but it took a week to release the funds thus Mr Kingston suggested a Hedge to be placed on the Palladium buy trade to the same amount on a sell trade. This released some extra Margin in the account and together with my Share money more trades were opened. Mr Ace Kingston advised me one day that he is going into an important meeting however he put some trades together for me and he said that his fellow trader Mr Josh that he trusts 100% with all his money is going to phone me and assist me with the trades. Josh then phoned me and advised me to open Buy on Zinc which made some money. A sell on Brent which immediately lost money, a Sell on Copper that immediately lost money and a Sell on Gold that immediately lost money. According to Trading Central as per Mr Josh these trades were gong to make a fortune. Only the Zinc made a bit of money. These trades all put the account in more trouble. Mr Kingston stopped talking to me and eventually I sent urgent msgs to Banxso and a new success manager contacted me. I then told the new manager I want to immediately cut my losses and close everything. He then advised me that he is setting up a professional team to rescue my account and that there is always a way out and he sees huge potential in my account. He then told me to deposit more money. I loaned money against my property and he advised that the money will be used to Unhedge the Paladium trade and then eventually everything will slowly return to normal. One trade was opened on natural gas that did make some money but it was all a little too late.

I was never advised that the CFD contracts expire after a certain amount of time and then a new contract is issued and whatever you hold in negative on a loss is immediately lost into the market reducing your equity and also your free margin! Whatever Swop fees you have on that trade is also lost immediately when the contract is renewed reducing your equity even further.

Once I transferred the money that I borrowed against my home loan, that I was told will be used to enhedge the Palladium I was advised by the new Success Manager that the Team has decided to rather put the money in a USD account and open new trades. Some trades made money but most lost money and swop fees and Natural gas was on a lost and the contract renewed and a fortune was lost after the new contract was issued . I was advised every time by the Success manager that Bloomberg suggests the trade or Trading Central suggest the trade or Investor.com suggest the trade and the USD account also slowly deteriorated to eventually a stop out and all was lost. the ZAR account also stopped out. i was told by the last success manager to get more money from my pension fund to deposit to try and rescue the accounts.

Artificial intelligence trading was never used as per the adverti*****t. It was all a **** to lure me into investing everything I had with Banxso. Take extreme care before investing. I lost my entire life savings.