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Banxso’s final liquidation
The Citizen
|March 04, 2026
COURT: GRANTED PROVISIONAL WINDING-UP
The Western Cape High Court has ordered that online trading platform operator Banxso (Pty) Ltd be placed into final liquidation, concluding that the company is insolvent, operated unlawfully, and can no longer function as a viable business.
The judgment, delivered on Monday by Judge Andre La Grange, follows a provisional winding-up order granted on 22 August, 2025.
The application was brought by a group of investors who traded contracts for difference (CFDs) on Banxso’s platform and suffered substantial losses.
They argued the company ran an illegal and fraudulent scheme and was unable to repay debts owed to clients.
Moneyweb has previously reported extensively on Banxso’s marketing practices and business activities.
A Moneyweb investigation found the company used fake social media advertisements — many featuring deepfakes of prominent figures including Johann Rupert, Patrice Motsepe and Elon Musk — to promote automated AI trading platforms that allegedly promised monthly returns of more than R300 000 from a once-off investment of about R4 700.
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