PaxForex Review

Review

PaxForex, founded in 2011, is an online Forex broker domiciled in Saint Vincent and the Grenadines offering its clients low spreads and fast execution. It is not regulated.

Accounts

PaxForex offers traders a wide choice of accounts. The Cent account is designed for newcomers who want to experience trading with real money with the least risk. It requires a minimum deposit of only $10 to start but recommends that $100 be deposited. This account is with USD only, there is a minimum lot size of 1000, leverage of 1:500 and it does not offer trades in gold or silver. The spread is 3.0.

Account Types
Account Types

The Mini account is designed for new traders and can be started with as little as $10 but at least $500 is recommended in order to receive all the benefits. These include a minimum spread of 1.8, leverage of 1:500 and the ability to trade in USD, EUR and GBP. Gold and silver can be traded and there is a swap account available.

The Standard account recommends a deposit of $5000 but it can be opened with $2000. The spread is 0.3 and there is 1-on-1 education provided as well as a personal manager. Swap accounts can be opened.

$1000 is the recommended deposit for the Fix account but this account can be opened with as little as $100. It is designed for experienced Forex traders as well as for new Forex traders who do not like modern 5 decimal flexible quotes. CFDs on Forex can be traded in this account without exposing clients to high risk.

The VIP account is the premier account and it comes with many bells and whistles including a personal manager, 1-on-1 education, free VPS, a swap version and leverage of 1:500. $50,000 is recommended to open this account but $10,000 is enough to get started.

Each account type gives the Forex investor full access to the highly accredited MetaTrader4 trading platform, which includes unlimited charts and technical indicators, automated trading, mobile trading software and access to detailed forex account information.

Demo accounts are available using any of the above accounts. PaxForex provides the Metatrader platform in the free demo account mode in order for the trader to become familiar with the software features without having to risk real money in the learning process.

Features

Trading conditions as well as separate spot metal conditions are posted on the site in clear chart displays that include spreads, swaps and contract details.

Fundamental analysis and Forex recommendations are posted daily as is the news and the market calendar posts up-to-date financial events throughout the world.

Technical Analysis
Technical Analysis

A glossary of financial terms is available as well as a FAQ section which is rather limited in its information.

Forex calculators include a Forex Margin Calculator and a Forex Pip Calculator.

Forex Calculators
Forex Calculators

Partnerships are available as Introducing Brokers and White Labels. PaxForex also offers a "Rebate Program" whereby IB receives opportunities to pay their clients a part of the spread from every trade that is closed throughout the month by his clients. This account type was specially developed for IB’s that attracts clients using Forex rebates. There is no cost to join the Rebate Program and trading conditions (spreads, execution and service) will be the same as any other PaxForex account type.

Education

PaxForex offers a complete trading guide that is split into ten different parts that offer lessons for both experienced and new traders. There are also other services including several infographics and insightful blogs.

Bonuses/Platforms

A $7 No Deposit Bonus is available to every new registered client for anyone opening a Bonus Forex Trading Account. This money can be used for trading only.

Traders depositing $1200 or more at the time of this review received a match of the amount into their trading account.  The bonus is paid out over the course of one year and the first payment is sent as soon as the deposit clears.

A unique bonus offered at PaxForex is their blog bonus wherein anyone with a blog that draws up to 5000 monthly visitors receives a minimum of $20 into his/her account and $40 for blogs with monthly visitors above 5,000. The blog must be at least 1500 words and must be in English.

At the time of this review, PaxForex was offering free prizes through their Roulette program. Traders need only enter their email, ‘spin the wheel’ by clicking on the roving red gift box and see if they win a prize. No additional details were offered.

Deposits/Withdrawals

Deposits to traders’ accounts can be made using bank transfers, credit cards, WebMoney, Neteller, Skrill, Perfect money and other online wallets. Only in USD, EUR, GBP and CHF deposits are accepted.

PaxForex does not charge any fees for the external transfer of funds to a Forex account except for Credit/Debit Card deposits, and if used, a 2.5% charge is applied to cover a portion of the total charges made by the card processors involved in the transactions. For all other payment methods no fees are charged.

Customer Support

The PaxForex Customer Support Team is available 24-hours a day, 5 days a week via Live Chat, Skype, Email, Call Back Request and Telephone.

Conclusion

PaxForex is a good destination for new retail traders who enter the market because they offer all the standard features needed to be a successful trader. Their Forex trading course promotes understanding amongst new traders and gives them a strong fundamental foundation so they can create their own Forex trading strategy.

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Features

The feature that stands out the most at PaxForex is their choice of different trading accounts. There are five different accounts starting with a minimum deposit of only $10 and it goes all the way up to a VIP account where $50,000 is recommended. Leverage remains at 1:500 for all of them and spreads are some of the lowest in the industry. The account spread sheet is clear and informative and lists everything a trader should know before selecting the account he/she is comfortable with.

Company Information

  • Broker's Name : PaxForex
  • Headquarter : Saint Vincent and the Grenadines
  • Regulation : None

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Minimum Deposit : $10
  • Maximum Leverage : 1:501
  • Commissions / Spreads : Spreads
  • Account 1 : Cent
  • Account 2 : Mini
  • Account 3 : Standard
  • Account 4 : FIX
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mobile
      • Web
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :

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Platforms

MetaTrader 4

PaxForex uses the popular MT4 platform in web and mobile forms. The platform offers all the benefits of the MetaTrader4 and it accommodates demo accounts as well.

MetaTrader 4 Platform
MetaTrader 4 Platform

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



36 User Reviews
lindadz

I really feel comfortable trading with PaxForex. They are easy to get along with and my money has always been 100% under my control. I used another broker in algeria some time ago and noticed how my money was been invested without my approval. This is not happening with PaxForex. I recommend it to anyone looking for a professional and reliable forex investment company

lucky

pax-forex is one the best broker in market, there is different type of accounts and wast bonus scheme with pax-forex according to your need best order execution with competitive market execution price,time to time they provide offers their market prediction is just priceless no one will provide such service in industry with your account they are providing .

yehudi

" I have tested Paxforex broker and I can say without mincing words
they are the best. The spread are very low, no commission on deposits
and withdrawal. The market execution is very fast and I have not
experience reqoutes using their MT4 platform. Most of all, they have
an excellent customer support- the response rate is less than 12hrs
from experience and they tried to attend to your issues with much
courtesy as much as possible. Besides, I especially love their market
analysis. The analysis are detailed and comes with probable trade set
up that guarantees profit. I strongly recommend Paxforex. Excellent
service delivery! "

mazitoh

I've been using PaxForex since they promote $ 7 Welcome Bonus. Nonetheless, highly responsive customer service even offers a guide to the basic procedure of forex trading. Spread is very tight and allow me to scalping. deposit and withdrawal methods vary easier for me as an international client.

John.Razualan

very good broker
PaxForex broker trading in a very comfortable, no dealing desk no reqote
small spreads perfectly suited for scalping.
for new clients could try paxforex performance with a welcome bonus of $ 7

aleksandritdon

Я не очень опытный трейдер, но что-то, конечно, заметить успел. Немного погуглил, и понял, что компания надёжная. Это самое главное. Спреды:от 0.3 пунктов, для расчетов есть выбор различных платежных систем. К скорости исполнения ордеров претензий нет. Поддержка отвечает оперативно. Хочу отметить качественную аналитику, очень помогает. Спасибо, думаю с компанией можно работать и зарабатывать

hbakhtiyar

PaxForex very remarkable. What distinguishes the other is an online chat and customer service. Very friendly, very professional, will always answer to what you should know. They are the only one in this area that will even call you internationally to welcome and help you. Other brokers rarely do this. The broker has a highly competitive spreads, execution orders very quickly and without requotes, this is how you test the quality of your broker. Please test them.

hbakhtiyar

PaxForex very remarkable. What distinguishes the other is an online chat and customer service. Very friendly, very professional, will always answer to what you should know. They are the only one in this area that will even call you internationally to welcome and help you. Other brokers rarely do this. The broker has a highly competitive spreads, execution orders very quickly and without requotes, this is how you test the quality of your broker. Please test them.

tradeone2015

very good company, they provide very good spreads, and very good customer service, highly recommended

tradeone2015

very good company, they provide very good spreads, and very good customer service, highly recommended

kiteja

I like this broker because fast execution.
Low spreads.
high leverage.
minimum deposit
affordable with small money.
the server was very nice so not requotes.
live chat fast response.
thank you very much PaxForex.
always success.

kamel83

My experience with the company was simple and short duration.
But that does not mean i did not like the service . On the contrary I can assure many positive things and the most important At these points ;Low spread, Fast execution. very good customer service.
I hope that the company continue on this and more success .

maco


JAHCUTY.

I have used different brokers but I must confess that paxforex has the
best customer services so far, they have never disappoint me. Quick
response, Keep it up.
You need to try this broker, they have a great speed exececution, and
that shows how relliable they are. A trial will convince you.
Paxforex has a very high leverage and a low spreed that allows you to
maximise and bost your performance. Thanks for this great services

cooldesak

loyalti bonus deposit . its best bonus for experienced trader who want use bonus from broker because its tradable and marginable... 

syednabeelhashmi

Excellent and honest paxforex broker, the best customer care and account manager, Great!

manojkumar_pakistani

I have experience with paxforex company. Paxforex provide different types of deposit bonuses and no deposit bonuses. Paxforex also provide high leverage with minimum depsoit. Execution order syestem is very fast. Paxforex live chat supporter very quickly response. I recommend for every trader choose Paxforex company for trading.

ahmed01

My name is nagim ahmed when I start my forex trading carrier its about 1 year ago. at first I start with demo account .when I trad in demo account my first 10 trad are profited than I loss next two trad only for lot size because trad my last two trad in 0.1 lot .so i think lot size small is too good for new come trader .when I come my real trad I open a account in paxforex.com this account is 7$ bonus account . in this paxforex bonus account my first three trading are loss all are hit sl than I given a sell trading is eur vs usd this trading given me 10$ profit so it is my first turning point for my forex life because 13$ are lot more money for trading in mini account for this I trading lot more free . after this I traded more than 100 trad and total profit 20$ and total lot 1.52 .so now I am very happy because I withdrew my first forex money ………………….so happy ………………….




Paulino

“I would like to witness on PaxForex, this company has a very good time of execution, used this first bonus I received and could realize the efficiency in this regard, I might also note that the spreads are very fair, good to operate with other peers beyond the eurusd.
The customer service is very good, every time I cranked up the chat, I solved the questions always at the time, I am very excited to work with the Pax”

Ogudikefx

I have use diffrent brokers but I must confess that paxforex have one of the best customer services so far, they have never disappoint me, quick response. Keep it up.
You need to try this broker, they have a great speed exececution and that shows how relliable they are. A trial will convince you.
Paxforex has a very high leverage and a low spreed that allows you to maximise and bost your performance. Thanks for this great services, please keep it up.

mcclain

paxforex its good broker
very low spreads
fast execution
and good support for clients
happy pips

@krh.dayat

Pax recommended forex brokers ...
low spreads
good server no requotes
very fast response to customer support
suport various types of payment methods
can do scalping

broker is very good in my opinion
funds that we invest will be safe if the trade here

@krh.dayat

Pax recommended forex brokers ...
low spreads
good server no requotes
very fast response to customer support
suport various types of payment methods
can do scalping

broker is very good in my opinion
funds that we invest will be safe if the trade here

moin1407

i love their execution speed. really so fast. it has many deposit and withdrawal options and low sperade, the lack of slippage and swaps, low requote, fastest and friendly customer support

disanayake79

I Have started my cooperation with Paxforex recently. Personally I was tempted by low sperades, the lack of slippage and swaps,the minimal requote as well as the easy to understand and user-friendly website. Also like Pax forex Quick order execution.I was right to choose paxforex when I came on the financial market as a trader. Paxforex Personnel & Technical support service are really Friendly. I wish Paxforex company a flourishing business and big Growth.

Stephanie Lion

Wow, so many comments from people in love with PaxForex - can't help but wonder if the PF team themselves didn't wirte them.

mrkapsa

Please find interesting PaxForex deposit bonus. This is always extra money for trading and margin especially for novices.
You should try its services...

kusnanto

paxforex full brokerage platform quickly, and without reqouet ..
small spread, and the corresponding market prices. I have proved themselves. Suitable for the beginner or seasoned professional.
paxforex not a broker fraudulently, or swindler ...
i love you paxforex, may be the best brokers are still in service ..

arya

Before I know about PaxForex, I did trade my forex trading in several brokers. Then I found PaxForex with competitive spread. The main pair that I looking or is EURUSD, and here at PaxForex they has only just 0.3 pips spread. This is great and should be try by everyone. Another plus factor of PaxForex is the execution speed. In my country, Indonesia, we have very poor internet connection. The past broker that I've using are some time gives delay on opening and closing trade. But here at PaxForex I can do my trade JUST IN TIME when I want to trade by mouse clicking. This is great for slow internet speed.

maruf5bd

paxforex is ideal broker for new because they give no deposit bonus.there support is good i discover recently,they give very quickly response.spread is no bad but it should be dvrease.

kenqqqs


PaxForex uses several different platforms. These include Trading Station II,PaxForex Active Trader, Trading Station Gateway – a web based solution, as well as Mobile Trading Station II and the well-known MetaTrader4 platform. They also has many sources of customer service available to traders. There is a live chat feature, phone customer service, email, fax, and a trading desk phone number to call. There are toll-free and international numbers available to traders around the globe.

Account: 141367

hananto.sahaja

this broker have give me $7 in riil money,good broker, i am start trading and my balance is 186$, nice broker

Cezary

Hello Brokers

I would recommend a broker PAXFOREX / www.paxforex.com/. Especially for beginner traders. They have very good support. The website is clear. It's easy to use it. Accessible and intuitive massage investor, quick and easy recording and a quick check of the data. I have nothing but good experiences with PAXFOREX. I've never had any problems. Greetings to all.
Account: 123851
Musashi1970

Rambo35

Paxforex is a great broker who offers tight spreads and good liquidity, fast execution speed and no re-quotes. All my deposits where handled very fast and their customer service is very responsive. I also enjoy their forex blog as well as trading recommendations which are great for all forex traders.

Cezary

Hello Brokers

I would recommend a broker PAXFOREX / www.paxforex.com/. Especially for beginners brokers. They are available free bonuses $ 7. In addition, for those who run out of luck or made a mistake Paxforex offer a second chance in the form of additional free bonus of $ 5. They have very good support. Accessible and intuitive massage investor, quick and easy recording and quick verification of data. No other broker does not offer an additional bonus for those którzym run out of luck. Greetings to all.
Account : 104916
Cezary

SJ

I am not sure what barakat's problem is, but obviously it is not written by a real trader as a real trader does not hunt bonuses and tries to scam a broker which is what I assume happened here. Most of those bonus hunters do not read the terms and conditions when they hunt for bonuses.

Personally I have been trading with PaxForex for over two years and I was attracted to this broker due to their tight spreads and deep liquidity which allows me to trade and have my pending orders executed at the price I have entered.

Withdrawals are handled the same business day unless they were received after the finance department has left in which case it will be processed the following business day. I am glad I am trading with PaxForex and have met with them in person at their head office.

The fact that barakat deemed it necessary to plaster the internet with his unfounded claim in three different languages (most likely using a translator) turns his failed attempt to scam a solid broker for a bonus into a laughable agenda.

barakat

Advice for all forex traders " don't work with Paxforex"
Paxforex is one of the scams brockers which tries to attract clients by its fake bonus.
As soon as you deposit and start trade, they don't care about you as a client and if you achieve profit and you ask for a withdrawal, they will ask you to do more and more lots till you lose your money.
If you did the lots they asked you to do, they will find a reason to make you trade again and again till you lose all your money.
In all cases, you will never get your money back,
here is the history of my trades
In addition to this, there many many traders judge this scam company in the courts all over the world

نصيحه لجميع تجار الفوركس "لا تعمل مع Paxforex"
Paxforex هي واحدة من الحيل brockers التي تحاول جذب العملاء من خلال مكافأة لها وهمية.
بمجرد إيداع والبدء في التجارة، وأنهم لا يهتمون لك كعميل وإذا كنت تحقيق الربح وتسأل عن الانسحاب، وسوف يطلب منك أن تفعل أكثر وأكثر الكثير حتى تخسر أموالك.
إذا كنت فعلت الكثير طلبوا منك أن تفعل، وأنها سوف تجد سببا لجعل لكم التجارة مرارا وتكرارا حتى تخسر كل أموالك.
في جميع الحالات، وأنك لن تحصل على المال الخاص بك مرة أخرى،
هنا هو تاريخ الصفقات الخاصة بي
بالإضافة إلى ذلك، هناك العديد العديد من التجار يحكم هذه الشركة عملية احتيال في المحاكم في جميع أنحاء العالم

Советы для всех трейдеров форекс "не работают с Paxforex"
Paxforex является одним из мошенников brockers который пытается привлечь клиентов своей поддельной бонуса.
Как только вы вносите и начать торговлю, они не заботятся о вас как клиента, и если вы добиться прибыли и вы просите вывода, они будут просить вас делать все больше и больше много, пока вы потеряете свои деньги.
Если вы сделали много они просили вас сделать, они найдут причину, чтобы заставить вас торговать снова и снова, пока вы не потеряете все свои деньги.
Во всех случаях, вы никогда не получите свои деньги обратно,
вот история моих сделок
В дополнение к этому, есть много многие трейдеры судить этой афере компании в судах по всему миру

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Review info: PaxForex
Review Date:
Rating : 3.5
Reviewed By :