1 reviews | Active since Jun 2024
Very bad experience with BANXSO
My experience with Banxso has not been good. It started of with me filling in a link to start trading and although the "no commission" and "high interest rate" sound promising it's only there to fool you. I was assigned a success manager and we got along well in the beginning, that is when I still did what she wanted me to do. Unfortunately, things changed when I did not want to do what she wanted every time. In the beginning I was making small profits here and there but nothing sustainable. She was very persistent and called me every day wanting me to invest more and put more money in. Keep in mind I am 21 year old student who is not a millionaire already and 20k is a lot of money to me, basically all my savings up until now. She kept on promising me that if I deposit more money I will make more money. In the beginning, I trusted her and her intentions. I asked her many times how can she be so generous to help me without commission and like how did she make anything out of this. She said she receives a salary so she does not receive anything from me and if her clients did good she is happy and is also doing good. But this is not true, she only cares about your trading volume. I also asked her how Banxso is making money and she said basically from commission of the stocks they sell, but that cannot be the case I thought. I did a lot of research and found that the way Banxso and she also is making money via a better spread they get somewhere else. The spread they are offering is not the spread that they receive. They make money just by every trade you open regardless if make a profit or a loss, because everytime you open a trade and close they make money. So this "success manager" with al her "good intentions" actually does not give a damn about whether you win or lose, they just want you to trade as much as possible. My success manager would always tell me that it is not going to come overnight and I understand that but the things she advised me to invest in was not making any money.. The things is she also thought I was very stupid, I am an Actuarial Science student so I have a little background in the world of trading and that is not as moonshine and roses as everyone tells you. If they made that much money why would they help you and need you to make more money. It is because they are not making money on their own otherwise each success manager would have millions in their banks. I accepted the fact that this was not as promising as I thought but then my success manager started to put pressure on me to deposit money and open new trades and when I said no I do not have anymore money to invest she did not really call me again like she did like sometimes 3 times a day in the beginning. She also tried to talk down on me and make me feel stupid. She tried to convince I am making a mistake not investing more and that I do not know anything about the market and she does and just blatantly trying to manipulate me to do things I did not want to do. They say that it is still solely your right to press the button and invest but in some way they force you and the advice is really not good, they only made me lose money to be honest. When me and the success manager had this conversation she got angry and wanted to close out my account and gain force me to do that with my account still with open trades in the red and I would lose thousands I believe it stays my right to close my account when I want to because it is still my money. None the less I still have to withdraw my money, hopefully that will go somewhat better and there is not any more surprises. The thing that bothered me most is the success manager not being honest with me, not having my best interest at heart, trying to belittle me and make me feel stupid as if she is a millionare. She also told me that my amount of money if also not very much so she does not worry anyway. Very bad experience! Young people keep your money close to you and do not let anyone persuade to take your money if you do not want to. I decided to accept my fate and close out my account soon and take the losses with the open trades because I am loosing more as the days go by. Hope I helped someone in the same situation.
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- Phone (Dedicated for Hello Peter visitors): Give us a call at ***
