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Say hello to promising returns with the chance to earn 8.7% interest on your investment equities – a first for the South African trading industry.
Local Online Trading firm Banxso confirms that their online traders can now earn interest on their equity investments of up to 8.7% per year. The company ensures that this interest is paid out in weekly arrears and offers clients the chance to improve their overall trading success as well as grow their accounts.
The COO of Banxso, Manuel de Andrade, explains, “We believe this is a game changer for online trading in SA, and the interest is paid on customers’ net equity. We have exceeded expectations with 70% more active accounts than we had initially hoped for at this early stage.”
This decision by the brand, which only launched a year ago as a South African-domiciled online trading firm, is said to be a game changer for online trading in SA as a whole – as well as an industry first.
This new interest on equity feature will allow Banxso clients to earn interest while they are actively trading. The brand believes this will have a positive impact on the 30-40% success rate of their traders.
How it would work is – for every R100 000 a trader deposits with Banxso and R30 000 committed to trading on the platform – which will eventually grow to R50 000, they will have a net equity of R120 000. The interest of 8.7% will then be paid on that net equity amount of R120 000.
Andrade goes on to unpack why the Banxso firm has a higher success rate than its competitors, “One reason for Banxso’s higher success rate is its corps of ‘success managers’ who monitor client performance and intervene when they see the kind of reckless trading, amplified by high leverage, that can quickly burn through an account.”
“We want to see our clients succeed and earning interest will keep them motivated to persevere.”
Successful traders, Andrade points out, tend to be the ones who are usually prepared to put in the time to properly study the markets and understand the events, trends, and dynamics that move prices. Banxso also offers traders online tutorials on their website – to help them grow their trading success rates.
While the brand started out aiming their business to a younger, tech-savvy trader market – Banxso has expanded their reach to a much broader demographic who are drawn in by the ability to trade using a range of platforms.
- The state-of-the-art MetaTrader 4 and 5 platforms,
- Banxso’s proprietary mobile app – Banxso X,
- As well as educational and risk management tools to help their clients achieve their investment goals securely.
Meticulously supervised by regulatory frameworks – Banxso ensures your security and confidence with every investment and trading interaction. Their brand is authorised under the vigilant oversight of the South African Financial Sector Conduct Authority (‘FSCA’) No. 37699.
This means that they are liable to one of the license conditions that require them to operate segregated client accounts – i.e. the company itself has no access to these funds and cannot use them to run their business. Another condition of the FSCA license is for Banxso to submit monthly reports to the FSCA and Financial Intelligence Centre – maintaining accountability over their management of client accounts.
Andrade highlights the significance of this licensing and why they value having the credibility it offers, “Not everyone operating in this space is licensed, nor do they have a physical presence in SA. In some cases, they have little more than some trading software and a call centre. Our headquarters are in Cape Town, and we like our clients to come and visit us and see how we operate and to get to know them personally.”
To find out more about Banxso and their offerings – visit http://www.banxso.com/.
For those new to trading or looking to expand their knowledge, Banxso provides valuable online tutorials on its website, catering to novice traders eager to learn.
Banxso operates under rigorous regulatory oversight to ensure security and confidence. Authorised by the South African Financial Sector Conduct Authority (FSCA) with license number 37699, the company adheres to strict conditions, including the operation of segregated client accounts, ensuring client funds are protected from business use. Additionally, monthly reports are submitted to the FSCA and the Financial Intelligence Centre as part of their regulatory compliance.
Banxso offers exposure to a diverse range of financial instruments, including cryptocurrencies, indices, stocks, commodities, and forex.
This post was sponsored by Banxso and produced by Studio24.
