PaxForex was founded in 2010 and it operates from St. Vincent and the Grenadines. The broker offers low spreads on over 70 forex and CFD assets, such as 0.4pips on the EUR/USD and offers trading on the MT4 platform.
|#||Broker's Features||PAXFOREX Availability|
|#||Accepts US traders||❌|
|#||24 hour trading||❌|
|#||Trading by phone||❌|
|#||1st deposit bonus||❌|
|#||Forex contests competitions||❌|
|#||Interest charges on the balance||❌|
|#||24 hour support||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review PaxForex.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. PaxForex offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Stocks, Cryptocurrency.
Tradable Products: On the PaxForex platform, 60 currency pairs, 2 metals, 7 stock shares and 3 crypto assets can be traded.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. PaxForex is ECN, STP.
Features: PaxForex website has a forex blog and features daily technical and fundamental analysis as well forex recommendations for its users.
As PaxForex offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. PaxForex recommended minimum capital is $10.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. PaxForex is regulated by Not regulated. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: PaxForex does not provide its regulatory information, which one assumes to mean that they are unregulated, but it claims to comply with AML policy. The brand also claims to have implemented SSL and clients’ account segregation.
Languages Available: Next lets have a look at each broker's different Language options. PaxForex offers Arabic, English, Russian.
Payment methods: Next lets have a look at each broker's payment options. PaxForex offers Credit/Debit Cards, Cryptocurrencies, FasaPay, Neteller different payment methods for each account types.
Deposit and withdrawal: Credit/debit cards, Bank Transfers, Skrill, Neteller, WebMoney, Perfect Money, QIWI, FasaPay, Bitcoin and Ethereum are the acceptable payment options on PaxForex,with really low minimum deposits.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, PaxForex makes MT4 available to clients.
Web & Desktop Trading Platforms: The only platform provided by PaxForex is the MT4 foe download and mobile.
Mobile Trading Platforms: The MT4 mobile version is available as android, iOS and on windows mobile operating systems.
Trader education on Paxforex is very basic. The website has lessons on Forex basics. A glossary of trading terms is also provided.
PaxForex rewards clients with a 100% deposit bonus for deposits of up to $1,200
PaxForex has a responsive customer support desk. The desk operates 24 hours a day, 5 days a week. Customer support can be obtained via phone, web chat, email, web forms and social media
PaxForex is an offshore broker that could serve as an alternative to those traders who cannot afford the margin requirements on UK and European forex platforms. It provides multiple account funding options and the MT4, which has become a standard for retail forex trading.
The broker further provides educational resources and daily analysis, but these are a bit scanty and cannot compete with other offshore brokers who offer better quality trading resources. PaxForex is therefore a broker for beginners. To cater to intermediate or advanced level traders, the brand needs to improve its offering.
PaxForex is a broker that has resources that are best for beginner traders. Intermediate and advanced traders may not find the available resources appealing enough for their trading activity.