Banana Miner (bananaminer.xyz) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: bananaminer.xyz.
Banana Miner (bananaminer.xyz) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Tax reports included|Comprehensive tools|Segregated accounts|Full transparency
Cons: Website design could be more modern|Minimum deposit could be lower
Banana Miner (bananaminer.xyz) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Multi-device support|Excellent charting
Cons: No integrated tax optimization|Website design could be more modern
My withdrawal request from Banana Miner (bananaminer.xyz) has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Educational resources|Reliable uptime|Automated trading options
Cons: Minimum deposit could be lower|Spreads widen during volatile periods
The mobile app from Banana Miner (bananaminer.xyz) is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Low minimum deposit|Reliable uptime|Detailed reporting
Cons: No live chat on mobile|Help articles are sometimes vague
I had a dispute with Banana Miner (bananaminer.xyz) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Copy trading available|Comprehensive tools|No hidden fees|Educational resources
Cons: Wish they had more educational resources|Limited ETF selection
The spread at Banana Miner (bananaminer.xyz) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a review site like this one and initially thought the platform was good - until I started trading seriously.
Pros: Good analytical tools|Easy to use platform|Smooth onboarding
Cons: Inactivity fee applies after 12 months
After for the past six months with Banana Miner (bananaminer.xyz) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Segregated accounts|Excellent charting|Responsive team
Cons: Search feature is basic|Nothing significant
The reporting at Banana Miner (bananaminer.xyz) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Good analytical tools|Portfolio tracking tools|Multi-device support
Cons: Inactivity fee applies after 12 months|Help articles are sometimes vague
The onboarding at Banana Miner (bananaminer.xyz) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Tax reports included|Demo account available|Good analytical tools|Multi-currency support
Cons: Research section could be deeper|Could offer more webinars
KYC with Banana Miner (bananaminer.xyz) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Helpful community forum|Transparent fees
Cons: No dark mode on mobile|Alert system is basic