Banxso Launches in South Africa, Fully Regulated by FSCA

Banxso.com, a new South African exchange, is scheduled to launch on 1 April 2022. The FSCA in South Africa will fully regulate the exchange. Additionally, Banxso plans to operate in 3 more countries by the end of the year (EU countries will be regulated by CySec, UAE by DFSA, and the UK by FCA).

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Banxso Trading Platforms

Banxso offers a variety of investment options, including trading in foreign currency (forex), stocks, indices, commodities, and cryptocurrencies. You can use several trading platforms to trade these markets, including Banxso X, MT4, MT5, and the mobile app platform.

South Africa is a top-rated destination for forex brokers. A recent study found over 150,000 traders in the country, with an average deposit of $740. In addition, the Banxso group has obtained licenses in Seychelles, Mauritius, and Saint Vincent & Grenadines. This puts them in a strong position to compete in the South African market.

In recent years, traders have increasingly turned to their mobile devices for trading. A sharp hike was seen in 2020 and 2021, primarily due to the pandemic of covid-19. Many retail traders used their smartphones for trading during this time, contributing to mobile trading usage spikes.

When it comes to mobile stock trading, eToro is far ahead of its rivals in Europe. Robinhood still maintains a significant market share in the United States despite launching its services just this year.

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