PaxForex Review: Is PaxForex Broker Good?
Broker overview and general information
PaxForex was founded in 2010 under the Laino Group Limited in Saint Vincent and the Grenadines, and is unregulated by any major financial authority. The broker offers a wide range of account types and offers trading in a variety of assets, including Forex, stocks, precious metals and cryptocurrencies, via the MetaTrader 4 platform. PaxForex has a strong focus on educational resources and trading tools, but concerns about transparency and accessibility of the website remain.
Broker Licensing and Regulation
If you ask whether PaxForex is good or not, you must first consider the license factor, which is the broker.It operates under the company Laino Group Limited, registered in Saint Vincent and the Grenadines with registration number 21973 IBC 2014 and has its offices at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines. However, this broker is not regulated by any major financial authority and investors should consider the risks before investing.
⚠️Warning: No licensing and regulatory information was found for this broker, although it claims to be registered with FSA St Vincent & The Grenadines
The CFTC has sued PaxForex for fraud, alleging that it conducted illegal over-the-counter transactions in cryptocurrencies, precious metals, and foreign currencies with retail clients without being legally registered with the CFTC. The paxforex.com domain was seized by the FBI, but PaxForex continues to operate through paxforex.org.
Investors should be aware of the risks. It is recommended that they study and consider carefully before investing.
PaxForex Products and Services
Trading products
Forex - Trade global currencies, major, minor and exotic currencies 24/100 with the tightest spreads of 0.4
Stocks - Trade CFDs on 20+ leading global companies with a margin level of 25%.
Indices - Trade the world's most popular indices such as France CAC40, Germany30 (DAX), US Dow Jones 30, UK 100, FTSE with Paxforex's platform.
Precious Metals - Traders can trade precious metals such as gold and silver, which are popular assets for many traders to speculate on.
Trading Platform
MetaTrader 4 (MT4) is a widely popular trading platform with features and benefits that make it a favorite among traders around the world:
MetaTrader 4 Features
Advanced analysis tools: MT4 comes with a wide range of charts and technical analysis tools. Charts and indicators can be customized to suit the trader’s needs.
Automated Trading (Expert Advisors - EAs): Supports programming of automated trading, allowing you to set up and test trading strategies.
Supports multiple devices: Can be used on computers, smartphones, and tablets. Supports Windows, iOS, and Android.
High security: Data and transactions are encrypted, ensuring that your trading is secure.
The Allpips platform is a browser-based trading platform. Traders do not need to install programs or download complicated applications.
Allpips Advantages and Features
It's FREE, no additional costs. Whether you trade on a live or demo account, there are no additional costs. Allpips is a cloud-based platform, so your personal account and strategies are always safe.
PaxForex Review: Account Types
There are 4 types of trading accounts as follows:
| Account Type |
| Cent |
| Mini |
| Standard |
| VIP |
| Minimum spread (points) |
| 2.4 |
| 1.4 |
| 0.4 |
| 0.4 |
| Personal Education |
| - |
| - |
| + |
| + |
| Minimum deposit |
| $10 |
| $100 |
| $2,000 |
| $10,000 |
| Account Currency |
| USD |
| USD, EUR, GBP |
| USD, EUR, GBP |
| USD, EUR, GBP |
| Maximum leverage |
| 1:500 |
| 1:500 |
| 1:500 |
| 1:500 |
| Minimum lot quantity |
| 0.0001 |
| 0.01 |
| 0.01 |
| 0.01 |
| Margin call |
| 55% |
| 10% |
| 10% |
| 10% |
| Stop out |
| 20% |
| 5% |
| 5% |
| 5% |
| VPS on demand |
| $25/month |
| $25/month |
| $25/month |
| Free |
| Swap free |
| - |
| + |
| + |
| + |
Deposit and Withdrawal Review
Deposit
| How to deposit money |
| Deposit time |
| Minimum deposit |
| fee |
| Netteller |
| 1 hour |
| 10 USD |
| 3.2% - 3.7% + $0.29 min. $1 |
| Bank Transfer |
| 3 - 5 business days |
| 100 USD |
| Bank Commission |
| Skrill / Moneybookers |
| 1 hour |
| 10 USD |
| 2.9% - 3.9% + 0.38 USD |
| Perfect Money |
| 1 hour |
| 10 USD |
| 0% |
Withdrawal
| How to withdraw money |
| Withdrawal time |
| Minimum withdrawal |
| fee |
| Bank Transfer |
| Process within 1 business day |
| 100 USD |
| Bank Commission |
| Credit/Debit Card |
| Processed by us within 1 business day |
| 15 USD |
| 5.5% (minimum 10 USD) |
| Skrill (Moneybookers) |
| 1 business day |
| 10 USD |
| From 1% to 3.9% + 0.35 USD |
| Netteller |
| 1 business day |
| 10 USD |
| 0% |
| Perfect Money |
| 1 business day |
| 10 USD |
| 2.50% |
Promotions and bonuses
100% Deposit Bonus
Deposit 1,200 USD or more and receive a deposit bonus equal to the deposit amount. This bonus can be used to enhance trading security or to increase trading volume. PaxForex pays the bonus for a period of one year, with the first payout sent to the account immediately after the deposit is completed.
PaxForex Customer Service
Summary: PaxForex Broker Review: Is It Good?
Although the broker looks attractive in terms of account types and bonuses, it is not advisable to invest with this broker due to suspicions of falsely using the FSA St. Vincent & The Grenadines license and the past seizure of the domain by the US FBI.PaxForex.com
Currently, operations are being carried out underPaxForex.orgInstead, these give investors a clearer picture that account types, bonuses and offers alone are not enough to make an investment decision, and that the broker’s license and history are also very important.
PaxForex FAQs
Q - Are there any fees?
A - BrokerThere is no fee for transfers, except for credit/debit card deposits, which are subject to a 2.5% fee. There is no additional fee for all other payment methods, but users should check with their external transfer provider for additional fees.
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PaxForex Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.
