MD
Matthew D
1 reviews | Active since Jan 2024
31 Jan 2024, 10:21
Don't be fooled by the slick marketing and glossy website
Before opening a trading account with Banxso please ensure that you have done sufficient due diligence. I have worked in the financial industry for over 25 years and would consider myself to be a sophisticated investor yet even I ended up being duped by this company. The website is very user-friendly and at first glance appears impressive. The bid/offer spread while not overly competitive is reasonable initially and then you start receiving incessant calls to deposit more money and "elevate" your account. I succumbed and for the first 24 hours was impressed with the new trading conditions on offer and started increasing my order flow on the platform. Then inexplicably the bid/offer spread (essentially the cost of trading) suddenly ballooned. I lost R30k exiting trades at off-market prices as I was hostage to the Banxso platform. This type of behaviour needs to be properly scrutinised and I have alerted the regulator in South Africa to investigate.
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BANXSO's replyOfficial
31 Jan 2024, 17:16Good day,
Thank you for reaching out and sharing your concerns with us. We deeply value your feedback and appreciate the opportunity to address the issues you've experienced.
We're genuinely sorry to hear that your experience with Banxso has not met your expectations. Our team strives to provide exceptional service and support to all our clients, and we regret any inconvenience or frustration you've encountered. Please accept our sincerest apologies as we take full responsibility for any dissatisfaction caused.
Your feedback is crucial to us, and we take these concerns very seriously. Upon receiving your complaint, we immediately launched an investigation to understand the root cause and ensure such situations are promptly and effectively addressed. Our commitment to continuous improvement drives us to learn from each interaction.
We are determined to resolve this matter to your satisfaction. Our team has already initiated corrective actions to prevent such issues from occurring in the future. We are committed to making the necessary improvements to serve you better.
To assist you further and ensure a more personalized resolution, we invite you to share additional details or contact information through the following methods:
- Email: Reach out via email at complaints [at] banxso.com
- Facebook Page: Connect with us on our Facebook page at https://www.facebook.com/Banxsocom/
- Phone (Dedicated for Hello Peter visitors): Give us a call at ***_ 6_1_8_0
After our thorough investigation, we will reach out to you by your registered email to discuss our findings and the steps we've taken to address your concerns.
Thank you again for bringing this to our attention. Your insights are invaluable in helping us enhance our services. We sincerely hope to have the opportunity to regain your trust and demonstrate our dedication to your satisfaction in the future.
Kind regards,
The Banxso Team🦩
BANXSO's reply31 Jan 2024, 17:16
Official
Good day,
Thank you for reaching out and sharing your concerns with us. We deeply value your feedback and appreciate the opportunity to address the issues you've experienced.
We're genuinely sorry to hear that your experience with Banxso has not met your expectations. Our team strives to provide exceptional service and support to all our clients, and we regret any inconvenience or frustration you've encountered. Please accept our sincerest apologies as we take full responsibility for any dissatisfaction caused.
Your feedback is crucial to us, and we take these concerns very seriously. Upon receiving your complaint, we immediately launched an investigation to understand the root cause and ensure such situations are promptly and effectively addressed. Our commitment to continuous improvement drives us to learn from each interaction.
We are determined to resolve this matter to your satisfaction. Our team has already initiated corrective actions to prevent such issues from occurring in the future. We are committed to making the necessary improvements to serve you better.
To assist you further and ensure a more personalized resolution, we invite you to share additional details or contact information through the following methods:
- Email: Reach out via email at complaints [at] banxso.com
- Facebook Page: Connect with us on our Facebook page at https://www.facebook.com/Banxsocom/
- Phone (Dedicated for Hello Peter visitors): Give us a call at ***_ 6_1_8_0
After our thorough investigation, we will reach out to you by your registered email to discuss our findings and the steps we've taken to address your concerns.
Thank you again for bringing this to our attention. Your insights are invaluable in helping us enhance our services. We sincerely hope to have the opportunity to regain your trust and demonstrate our dedication to your satisfaction in the future.
Kind regards,
The Banxso Team🦩