Banxa Brokers 2025
Banxa is a cryptocurrency payment gateway that aims to meet the increasing demands of the market for faster digital currency payments with lower fees. The platform is an on-ramp financial system that warrants its popularity through reliability and trustworthiness. This 2025 review will explore the company’s details, platform features, advantages, disadvantages and more.
We have also produced a list of the best brokers that accept Banxa deposits.
Best Banxa Brokers
We've compiled a list of the top 2 brokers that support Banxa payments, based on our hands-on tests:
Here is a short summary of why we think each broker belongs in this top list:
- Deriv - Established in 1999, Deriv is an innovative broker now serving over 2.5 million global clients. The firm offers CFDs, multipliers and more recently accumulators, alongside its proprietary derived products which can't be found elsewhere, providing flexible short-term trading opportunities.
- OKX - OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Compare The Best Banxa Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| Deriv | $5 | CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs | Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView | 1:1000 |
| OKX | 10 USDT | Spot, futures, perpetual swaps, options | AlgoTrader, Quantower | - |
Deriv
"Deriv is ideal for active traders seeking alternative and unique ways to speculate on global financial markets, from multipliers and accumulator options to its bespoke synthetic indices, which mimic real market movements and are available 24/7, allowing for continuous trading opportunities regardless of market hours."
Christian Harris, Reviewer
Deriv Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs |
| Regulator | MFSA, LFSA, BVIFSC, VFSC, FSC, SVGFSA |
| Platforms | Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP |
Pros
- Account funding is a breeze with a very low minimum deposit of $5 and a huge selection of payment options, plus Tether was added to the cashier in 2023.
- Although response times trail alternatives in our personal experience, Deriv offers 24/7 support and is one of the few brokers to offer WhatsApp assistance.
- Deriv stands out with its innovative products, from multipliers and derived indices to its addition of accumulator options, providing exclusive short-term trading opportunities.
Cons
- Apart from the MFSA in the EU, Deriv lacks top-tier regulatory credentials, reducing the level of safeguards like access to investor compensation.
- Leverage up to 1:1000 will appeal to traders with a large risk appetite but frustratingly there is no ability to flex the leverage in the account area.
- Although there’s a basic blog, there's little in terms of technical analysis or market reports which could help active traders identify potential opportunities.
OKX
"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."
William Berg, Reviewer
OKX Quick Facts
| Bonus Offer | $10 in BTC |
|---|---|
| Demo Account | Yes |
| Instruments | Spot, futures, perpetual swaps, options |
| Regulator | VARA |
| Platforms | AlgoTrader, Quantower |
| Minimum Deposit | 10 USDT |
| Minimum Trade | Variable |
| Account Currencies | USD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR |
Pros
- Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
- Traders can access historical market data for spot and futures combining OHLC data, aggregate trades and trading history
- OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority
Cons
- The broker's platform and features may be complex for novices
- The firm offers limited regulatory oversight, though this is common among crypto brokers
- The quality of customer support was inconsistent based on testing
How Did We Choose The Best Banxa Brokers?
To reveal the top Banxa brokers, we:
- Analyzed our database of 500 online platforms and brokers, focusing on all those that accept Banxa payments
- Confirmed that they support Banxa deposits and withdrawals for day trading
- Sorted them by their ranking, drawing on over 100 data entries and our personal insights
What Is Banxa?
Banxa is a financial payment platform that is used to connect traders with exchanges and wallets.
Founded in 2014 by Domenic Carosa, the company aims to provide people around the world with a gateway to cryptocurrencies, facilitating entry-level coin swaps whereby traders can purchase cryptocurrencies such as Bitcoin (BTC), Ripple (XRP) and Tether (USDT) using fiat currencies.
The head office location is in Melbourne, Australia, with additional offices in Amsterdam, Netherlands and Vilnius, Lithuania.
Banxa was the first exchange payment system to become a publicly listed company and is currently listed on exchanges and marketplaces such as TSX (ticker is BNXA.V) and OTCQX, though not NASDAQ.
Since its launch, Banxa has grown rapidly, with transparency and regulation at the forefront of the company’s image and partnerships with many other financial platforms and wallets like Ascend, Bybit, Edge, Okex and Phemex.
The company operates globally with a list of supported countries including Germany, the UK, the USA (including New York), Nigeria and the Philippines.
Fees
The exact fees charged per transaction when you use Banxa will vary depending on the payment method, where you are based and the exchange or wallet you are using. For example, if you make a payment on Kucoin, there are zero fees applied.
The company has previously run a promotional offer whereby users received a 10% discount on cryptocurrency purchases, so keep an eye out for any future promos you can benefit from.
Payment Methods
Several available deposit methods can be used for payments in fiat currency. Visa, Mastercard and Apple Pay are all allowed across the world, though Banxa charges a 1.99% fee.
Other methods such as SEPA in Europe, Interac in Canada, OSKO and Pay ID in Australia, bank transfer in the UK and iDEAL in the Netherlands are all fee-free.
Limits
The maximum daily transaction limit depends on the payment method. For example, on the cryptocurrency wallet Edge, there is a daily transfer limit of $50,000 when using a POLi bank transfer.
Additionally, an Interac e-transfer in Canada has a maximum limit of CAD 3,000. For the complete list of transaction limits, contact the Banxa support team. The minimum order limit is just $30.
Speed
The exact transaction processing time when using Banxa depends on several factors such as the account verification, payment method used and network congestion.
Traders that have only verified their email account can expect longer wait times compared to those who have completed the Banxa know-your-customer (KYC) process. Fully verified traders can expect anywhere from five minutes to three hours for completed deposit time.
Visa, Mastercard, Apple Pay, bank transfers, Interac and iDEAL are payment options that are accepted instantly. Cash deposits at AusPost branches can take around 45 minutes, with SEPA, OSKO and POLi taking one to three business days.
Finally, as Banxa processes its transactions using the Ethereum network, cryptocurrency transactions may take longer than usual during busy periods.
Security
It is understandable to ask whether Banxa is legitimate or not as there are many financial platforms across the globe that you cannot trust. However, the gateway is a reputable and secure method of transferring funds from fiat to crypto and vice versa.
When you register and login to your account, you will need to complete the KYC process to access all the features and the highest transaction limits. This involves submitting personal information such as a phone number, home address, government-issued ID and a selfie of you holding the submitted ID, as well as verifying your wallet address.
When making a transaction, you must complete verification with a two-factor authentication (2FA) process by entering a PIN that is sent to your mobile for the order to be placed.
Additionally, Banxa undergoes annual audits to ensure that the security measures are maintained and regulations in the countries of operation are complied with.
Support
There are several avenues for traders to access support and advice if there are any problems.
Firstly, there is a dedicated support page on the Banxa website with answers to FAQs and common issues like a payment declined, order cancelled, order delay, acquire refund information or if you wish to delete your account.
If you have more complicated problems then the live chat support or email ticket may be best. Finally, you could also seek advice online via the webinar events or day trading communities on YouTube.
You should keep up to date on any news and announcements so following the Banxa message board and social media channels on Twitter and LinkedIn is recommended.
How To Deposit Using Banxa
Purchasing cryptocurrencies through Banxa to then fund a trading account is a simple process:
- Enter the amount of either fiat currency or cryptocurrency you wish to purchase. If your account is not yet validated, you will need to input your email address, mobile number and complete an ID verification.
- Select your payment method, for example, bank transfer, wire transfer or other digital options.
- Verify the transaction by inputting the PIN sent to your mobile to place your order.
- Once the verification is complete, the order is sent and you will receive your purchased assets.
- Banxa allows you to track your order status by following the transaction tracking option on one
of the emails you will receive.
Withdrawal
Banxa has only recently announced that they are introducing a selling feature that will allow users to withdraw their cryptocurrency in the form of fiat currency. As it is a new feature, it is rather limited as only withdrawals in AUD, EURO and GBP are supported.
Pros Of Banxa For Traders
- Quick deposits
- Many payment methods are available
- KYC is in place to help protect the account
- Partnerships with major exchanges and wallets
Cons Of Banxa For Traders
- No Banxa mobile app
- Limited withdrawal facilitation
- High fees for Visa and Mastercard payments
Banxa Competitors
Below are examples of some alternative fiat to crypto gateways.
- Simplex – On-ramp system supporting over 50 fiat currencies and over 90 cryptocurrencies that provides customisable UI and flexible APIs.
- Moonpay – System that supports both retail and business investors for cryptos and NFTs with high user fees.
- Mercuryo – Global payment system that offers instant fund transfers for a wide range of fiat and cryptos.
Is Banxa Good For Day Trading?
Banxa is a reliable method of making fiat to crypto payments for trading purposes. The company has plans for further growth via more partnerships with exchanges and wallets. As Banxa is an entry-level payment method, budding traders looking forward to making large revenue from cryptocurrency trading are best suited to this option.
FAQ
Is Banxa Safe To Use With My Trading Account?
Banxa is partnered with many reputable exchanges and wallets, including Binance and Kucoin, suggesting it is reliable and trustworthy. It is a good idea to follow the KYC and 2FA requirements for added security. You should also ensure any correspondence has the correct Banxa logo and links, so you avoid phishing attacks.
How Long Will My Broker Take To Process A Banxa Deposit?
Transaction times can be anywhere from five minutes up to three hours on average when using Banxa on Binance and Kucoin, for example, as long as you have registered an account with a completed KYC. Verification time can take up to 12 hours according to the website’s support pages, however, there are comments from the community on Reddit that have stated longer wait times.
Which Brokers Accept Banxa Payments?
Banxa is becoming more widely used among crypto brokers and exchanges. Some top firms that accept Banxa payments include OKX and Deriv.com. You can check our list of top brokers with Banxa to find the most suitable option for you.