PaxForex Review

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PaxForex

PaxForex is a well-established broker since 2010. PaxForex has headquarters in Saint Vincent and Grenadines and United Kingdom. They are generally well-suited for PaxForex to provide their Forex/CFD trading services to global clients.


Company Information

🌐 Website
paxforex.org

Year Established
2010

Features

💰 Bonus offers

🏆 Trading contests

📖 Free education

👩‍💼 Personal manager

☎️ Trading by telephone

📁 Segregated accounts

📈 Managed accounts

👔 Affiliate program

🕋 Islamic accounts available

🗺 Vps

Account Information

Apart from the forex demo account, this broker offers VIP, Islamic, Cent, Mini and Standard. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by PaxForex is up to 1:500. Meanwhile, you can open an account with a starting capital of $10.

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Min Deposit

$10

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Max Leverage

1:500

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Spread

Variable and Fixed

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:



💲 Min Deposit $10000

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, PaxForex also offers some instruments you would like to trade on, such as Forex, Gold & silver, Stocks and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for VIP account, PaxForex specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Gold & silver

Gold & silver
1:100

Cryptocurrencies

Cryptocurrencies
1:5


💲 Min Deposit $500

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, PaxForex also offers some instruments you would like to trade on, such as for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Islamic account, PaxForex specifically provides it with the following instruments and leverage:



💲 Min Deposit $10

💡 Min Position 0.0001 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, PaxForex also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Cent account, PaxForex specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Gold & silver

Gold & silver
1:100


💲 Min Deposit $100

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, PaxForex also offers some instruments you would like to trade on, such as Forex and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Mini account, PaxForex specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Cryptocurrencies

Cryptocurrencies
1:5


💲 Min Deposit $2000

💡 Min Position 0.1 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, PaxForex also offers some instruments you would like to trade on, such as Forex, Gold & silver, Stocks and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Standard account, PaxForex specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Gold & silver

Gold & silver
1:100

Cryptocurrencies

Cryptocurrencies
1:5

Payment Methods

Bitcoin : As a payment method, Bitcoin is reliable for its low cost and quick process. Brokers have been integrating Bitcoin as one of their funding methods especially after the cryptocurrency's rise in popularity. Now, traders who have digital wallets can easily transfer their funds to and from their trading accounts.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.

PaxForex also provides payment with UnionPay, Perfect Money, Ethereum and Credit/debit cards



Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, PaxForex offers you MetaTrader 4.

Customer Support

Do you have any question or find any trouble related to PaxForex? If you do, you should reach PaxForex's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Arabic
Chinese
English
Laothian
Portuguese
Russian
Thai

Office Support

Email Support

Call Support

Chat Support

Extensive Review

Founded in 2011, PaxForex offers online trading services to forex retail traders. The company is registered in St. Vincent and the Grenadines, a well-known offshore jurisdiction for CFD brokers with the intention of providing the most flexible trading environment for all types of traders. However, the broker is yet to be licensed as a financial service provider by the Financial Services Authority of St. Vincent and the Grenadines.

PaxForex embraces traders from all over the world, including the USA; an extremely unique decision as offshore-based forex brokers rarely allow traders from the US to register under their service. The trading instruments offered include Forex pairs (majors, crosses, exotics), Spot Metals, Shares, and Cryptocurrencies. The trading condition details for each asset are displayed thoroughly on PaxForex's official website, so anyone can attest to their products with no significant difficulties.

The account types are specifically designed to suit several types of traders with the following conditions:

Cent Account

  • Minimum Deposit: $10
  • Minimum Spread: from 2.4 pips
  • Shares: No
  • Priority Execution: No
  • Minimum lot size: 0.0001

Mini Account

  • Minimum Deposit: $100
  • Minimum Spread: from 1.4 pips
  • Shares: No
  • Priority Execution: No
  • Minimum lot size: 0.01

Standard Account

  • Minimum Deposit: $2000
  • Minimum Spread: from 0.4 pips
  • Shares: Yes
  • Priority Execution: No
  • Minimum lot size: 0.1

VIP Account

  • Minimum Deposit: $10,000
  • Minimum Spread: from 0.4 pips
  • Shares: Yes
  • Priority Execution: Yes
  • Minimum lot size: 0.01

From the specified details above, it is quite easy to see that traders with a small amount of capital and have low-risk tolerance would fit the Cent Account perfectly. Aside from the low minimum deposit, the account applies a minimum trade size as low as 0.0001, so traders can trade with only $0.001 pips value.

Meanwhile, Mini Account is the meeting ground between small capital traders and the need for low spread. This is because the spread given in Cent Account is not competitive for retail brokers' standards. For the more experienced traders who are finally ready to step up their game, Standard Account provides an even lower spread and the option to trade Shares. On the other hand, the high requirement of deposit amounts in VIP Account signifies that it is not for everyone.

There is nothing groundbreaking in terms of trading technology since trading in PaxForex serves traders with the choice of only using MetaTrader 4 as the main platform. The broker may upgrade their platform list by adding MetaTrader 5, as MetaQuotes itself confirm that the operation of MT4 would eventually cease in the future.

What PaxForex lack in the trading platform, they cover it with their commitment to providing traders with convenient payment methods, both for deposit and withdrawal purposes. In addition to bank transfer and credit cards, PaxForex enlists Neteller, WebMoney, FasaPay, Perfect Money, and Qiwi to complete the options of payment methods. Beyond the usual e-payments, this broker also manages to add Bitcoin and Ethereum as alternatives.

In terms of trading education, PaxForex creates the study resources in various forms of media, including written articles, infographics, as well as video tutorials. The analysis is also provided with two divisions of concepts, mainly by their focus on in-depth fundamental and critical technical contents.

All in all, PaxForex is an adequate choice for retail trading in the forex market with a minimum deposit and lot size. Their resourceful contents are also proved unique and insightful for traders with a high interest in continually expanding their knowledge.



FAQ About PaxForex

Is PaxForex a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if PaxForex is a good broker for you or not by reviewing the criteria. In general, PaxForex provides trading service in Forex , Gold & silver , Stocks and Cryptocurrencies . As for the payment methods, you can choose between Bitcoin, Credit/debit cards, Ethereum, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney and Wire transfer. The customer support is available via Callback, Email, Forum, Live chat, Office, Phone, Skype and Web form.


What is the minimum deposit for PaxForex?

The starting capital in PaxForex is $10.


Is PaxForex regulated?

PaxForex is regulated by None. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


Is PaxForex legit?

PaxForex is a brokerage company offering trading services for clients since 2010 with offices in Saint Vincent and Grenadines and United Kingdom.