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Philip M

1 reviews | Active since Oct 2023

25 Oct 2023, 12:53

Sports Betting rather than Online Trading

Please be very careful when engaging with Banxso. I was enticed by the advertising to start trading and opened with the required R4800. Dale Anderson my success manager quickly informed me that I would not be able to do anything with that amount and should add more funds. I understand why they do that as they trade on volumes so they want as many people as possible to take a position so that they can use that to operate. Without the swap costs. I repeatedly told him that I wanted to build up slowly but he was persistent and I fell for his stories and deposited more funds. I followed some of his trade suggestions but lost a lot of money. He passed me on to another success manager Josh Jensen who tried but it went exactly the same way. I have up to date lost R136k and there is no accountability from the success managers, they just have a heap of excuses. Some of the pearls of trading wisdom: Gold will hit $2600, Crude Oil will hit $105, Silver will hit $40. Dale also explained that on the site the profit that is shown includes the swap, which was just a lie.

I will definitely not recommend this platform, they are more bookies than success managers, and they treat you like an ATM with unlimited funds.

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Replies (3)
BANXSO
BANXSO's reply25 Oct 2023, 14:20
Official
Good afternoon.
We would like to apologise for your experience.
You will be contacted by our relevant people to address.
Thank you.
PM
Philip M's update26 Oct 2023, 12:47
Reviewer Update
Thanks to Client Relations Manager Lexi Hadid for getting back to me and trying to resolve this issue. At least we have come to some sort of understanding and way forward to recover and have a better experience on the platform. At least there is someone who sees a person on the other end of this and not just an ATM.

Hopefully, I can recover some of my losses and Dale Anderson and Josh Jensen will get what they deserve.

I will now have yet another success manager, but maybe it's third time lucky. So let's see how it goes.
BANXSO
BANXSO's reply26 Oct 2023, 17:14
Official
Thank you for entertaining Lexi's efforts.

We trust your trading journey with Banxso will be a fruitful one.