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- Not guilty0
Bad for one, but not bad for everyone. - Very good for me because they pay my salary
I disagree with Ajt1970. Not all his issues are broker faults. Here is my vision:
An interesting fact about regulation is that it really doesn’t guarantee anything. I view it more as a false layer of security. A good broker is a good broker, period. On top of that, most regulated brokers are regulated in places where regulation is nothing more than a word. Anyone who truly believes that a Cyprus, Belize, Mauritius, Seychelles, etc. broker is a well regulated one may wake up one day very surprised. I never picked a broker based on regulation, but I tried brokers in order to weed out the good from the bad. In this case, the trader did get his funds back which is one reason why Paxforex is not a scam broker. The purpose of scamming is to enrich the broker while the trader faces partial or total loss. Is $115 in fees ridiculous? Of course it is, but that’s part of the issue with the global banking system. Make smarter banking decisions, and this can be avoided.
Let’s take a look at execution time; 2-9 seconds is not acceptable regardless of strategy you use. I am with Paxforex for a little over three years now and can’t remember a trade taking that long to be executed. It usually happens in way less than 2 seconds, there may have been a trade here and there which took 2-3 seconds but less than a dozen trades in three years which is OK with me. In general the execution is good. Should any broker have permanent issues to fill orders, run!
I always advice traders to skip reviews by others (including this one) and know what you are looking for, then go out there and find it. Forget demo accounts, make a small deposit in a live account ($100-$500) and use the broker. Place trades, request withdrawals and do everything you need and want to do unless you are satisfied with the broker. After that make a real deposit. Yes, this takes a lot more time than reading a review and blindly trusting a stranger. It is no secret that the majority of reviews are either written by disgruntled traders who faced losses due to their own mistakes (accepting bonuses and not reading the fine print would be a big one) or sponsored by brokers in order to attempt to lessen the reputation of competitors.
I have tried Paxforex with a small deposit as mentioned above and after one year of no issues I increased my deposits and Paxforex is now one of my main brokers for various reasons. I like to not worry about what the broker may do and focus on my trading. It is hard to get an environment like that and I am glad that in my case Paxforex has given me and continues to give me just that.
Extremely Bad Broker
This broker is horrible. I traded with them for about two weeks and it only took that amount of time for me to realize what a mistake it was. Firstly, their order executions were terrible. I was looking at most fills falling somewhere in the 2 second range and some were as high as 9 seconds. When I hit the button to enter I should be getting a near immediate fill. Instead with them, I hit the button to enter and it was “one thousand one….one thousand two….etc.” and then it would be filled. In those few seconds price can move a lot, so precision is out of the question with them, and precision is crucial for short term traders. Imagine that…in this day and age of technology and it takes that long to get a fill? With other brokers it is more like one TENTH of a second or so. Certainly nowhere near 2-9 seconds. As an intraday trader, those seconds can be agonizing waiting for confirmation of a fill, whether that be for an entry or an exit. And it is not because of my computer or Internet speed as they are both top notch speed. It was all on their end with their server.
Second, their bank fees just to withdraw funds is ridiculous. They say it is because of their bank processors for bankwires. Whatever. I was charged $85 by them to withdraw my initial 3,000. And then an additional $30 to get my small $144 profits in another transaction (because they initially would not send me my profits with the 3k withdrawal due to what they said were some unverified corporate documents, which is B.S. because all my documents and verification were taken care of during the initial stages of opening the acct.).
And lastly, their slippage is incredibly bad. I was slipped 11 pips on my stop-loss in EUR/USD during a liquid part of the day (approximately noon Eastern time). This lead to an additional $450 loss ….money they robbed me o on a 4 lot trade…..because of what they say was a credible fill. Trading the most liquid pair during a very liquid time, and with no news announcements…there is NO WAY anyone should ever be slipped 11 pips in this pair! They claim there was “extreme volatility” at the time my stop-loss was filled and that is why it was slipped so much. To them, a 30 pip spike is “extreme volatility” and warrants 11 pips of slippage. So every time EUR/USD moves 30 pips I have to expect 11 pips of slippage??! Ridiculous! They also said if I deposited more money with them I would be able to open an account on their VPS server, which would allow for better fills and less slippage. But if I can’t trust them with order fills and slippage with a small account, I certainly will not trust them with a larger account.
When I tried to bring up all these issues with my account manager and his boss, I got nowhere. So my advice, stay FAR AWAY from this broker. They cannot be trusted.
Lightening fast withdrawals!
Deposited USD 2000 on the standard account. Made a profit of USD 7620 in a month (I am a long-run investor). Received the total of USD 9620 to my Neteller account within an hour. Wow!
The client area is the best I have ever seen. The house is full of good people.
Overall an excellent broker out there. Long live PaxForex!
Very dishonest broker, will cancel your winning trades to their likes and leave you the losing trades. Don't trade with those scams.
Excellent and great support in this broker, i recommend it!
This broker is awesome, my experience with this broker when open account is too fast and my experience with the page is very friendly that can anyone person understand with clarity. Offer a lot of variable oppportunities for every trader who can join it. Have it diiferents types of account for different tradig styles of each person, great scalping, hedging. Also if you are a beginning trader is recommendable start with a demo account that is offer. Process time of deposit and withdrawal is too excellent. This broker is transparent have a regulation, this is accurate for each person that will trade safe with this broker. The trading conditions in this broker are so good. I see in different review that this broker have too much positive review and in my opinion the process when open account is too fast and so good!. Have a section for learn if you have doubt, you can clarify in their sections. Really you know if a broker is too good when update your system of work for better. Also this broker have research , his is very important because have fundamental analysis of pairs commonly traded, this is great, have it recommendations, blog, calendar if you want check news that will impact the market and create volatility, blogs, and calculators. Have many testimonials of different person in the page. Appears in Media in company of have recognition. If you want contact it this broker you can do it using different media like twitter, facebook, google, VK, skype. Also and this is excellent have contact via telephone. You can see that this broker is very interesting in the wellness of every client that decide open account. I recommend this broker because demonstrate me that i can comfortable and is my best decision. Also you can contact if you have any questio using the live chat. If you asked me if is recommendable open account, i will tell you do it with confidence because the treat exceeds my expectations. Thank you Paxforex for exceed my expectations!!!
hello i register in paxforex every thing is good they have difrent type account and dfrent promotion the live support is fast and good try it and be succes
I am a loyal trader with Paxforex and the fast and reliable customer support was a main reason why I am staying with them.
Apart from that, I get my expected number of pips without any issues or delays.
I never felt any concerns when trading with them because everything is transparent thru the report they send.
I would definitely recommended Paxforex.
i love the paxforex they are fast in responce to clients issues and friendly to clients.
Paxforex is a good broker. I'm an IB with them as well as a real world trader with them and Max, my account manager, has done well by me. I got all my IB commissions on the 1st of December. As far as execution speed is concerned, Paxforex is good. I've experienced sub one second execution speeds on ALL my trades, experienced fast withdrawal executions and great customer service. Period. For example, this past Friday, I made $9,300 in less than 15 minutes without execution issues or getting out of the trade that size. I traded 100 standard lots with ZERO issues or problems. Here's the video I took of that trade:
As you will see, the trade was awesome and the couple I did it for is happy as well.
I trust Paxforex. They have the potential to be the #1 forex broker in the world according to the results that I have gotten from them.
Some will say that they are a scam, but my results do not conclude this. I have gotten plenty of calls from Max, the account manager and I hear and see nothing but sincere actions.
For all those that read negative thoughts or words about Paxforex, I sincerely think you need to see that the reality is that Paxforex is competing against other brokers who also has intentions on beating the competitions. Paxforex is sound and sincere. Don't think twice about joining them. Go back and look at my video above and if you want to join Paxforex, I can help you a great deal with your trading. You can sign up here:
I will help you to see that Paxforex is NOT a scam but a sincere forex broker that is willing to bend over backwards to help you.
2015-06-05 No Rating TESTIMONIAL based on Paxforex.com as MY broker:
It was April 27, 2015 and I needed desperate help. As a result of my wife and I splitting up; and not amicably on her part I might add, I was in a world of trouble. On April 26th, 2015 I had told my wife that since there were trust issues in the marriage, after 1 year and 1 month of marriage, it was best that we separate. On the same day, we went to a restaurant to eat and then we came back home. I was in the bathroom and once I came out of the bathroom I went to my bedroom and saw that my computer bag was open and that my wallet was gone. I confronted her and, as usual, she lied and told me that she did not take my wallet and that maybe I left it at the restaurant. So, we went back to the restaurant. Long and behold, within 30 seconds of stepping foot into the restaurant, I came back outside to find that her and the vehicle we came with completely gone. I had to ultimately call the deputy sheriff department to come and pick me up from the restaurant to bring me home.
What she did was she went home, claiming that she was picking up her daughter from her daughters friend house, but in reality, she was taking my computer items and hiding them in undisclosed locations that I could not find. On the 26th of April(on a sunday), she stole my trading computer(samsung galaxy 12.2" Tab Pro) and she also took my wallet with all my identification as well as my debit card, social security card, drivers license, and even my birth certificate! She even took my phone.
I called the Deputy Sheriff department, from a neighbors house, but they kept telling me that it was 'community property' and that I had to solve my issue in civil court since it was a civil issue.
She wanted to make sure that I did not get away from her since I was doing well with my trading the market and she wanted as much money from me as she could get. As a side note, I am the one who funded my trading account with my own money that I got as a result of a federal tax return. So, it was not her money that allowed me to trade the market. It was my money. Anyway, I had no money and no way to identify myself. I could not go to the atm because she stole all of my identification and debit card.
On Monday, April 27th, 2015 I left my wife for good without any identification. If a woman does this to any man, it is time to leave her because she is not worth living with.
I went next door to a neighbor to borrow $40 for a taxi ride so that I could go to my bank and close my account. While closing my bank account and opening up a new bank account, while also transferring money from my old bank account to my new bank account, I was able to solve my money issue temporarily. I then went to a good hotel on the same day, April 27, 2015 and have been at the same hotel ever since.
Paxforex to the rescue.....
I contacted Paxforex immediately and told them that my account had been compromised. By the time I was able to contact Paxforex, my wife, had changed my gmail account password so that I could not get into my gmail nor my trading account! My wife, thinking that I had no recourse or sources to help myself, made a $10,780.40 withdrawal from my trading account. She wanted that money to go to my bank account because she banks with Navy Federal and Navy Federal has no Swift Code so the money could not go to her own bank account. She thought that the money would go to my bank account so that she would easily withdraw the money from my bank account to her Navy Federal bank account. So, on that very same day she opened her own Wells Fargo bank account and made a second withdrawal attempt for the same amount of money. This second withdrawal attempt went to her own Wells Fargo Bank account that she just opened(April 27, 2015). Lucky for me, after nearly 3 weeks and not seeing any money hit my bank account, and after going through hell to prove my identity to Paxforex, I was able to get confirmation, from Paxforex, that my wife did indeed go into my trading account to not only upload her own identification documents to my trading cabinent but to also upload her own bank account information to my trading cabinet!
Kate, in Accounting, put a stop to all this by changing my password and registration email so that my wife would not be able to log into my trading account nor would she be able to inquire about my trading information since she does not know my new email address.
For two weeks, paxforex and kate(accounting dept) worked with me to get my situation straightened out. Finally, the bank wire that my wife had tried to send to her own Wells Fargo bank account, was stuck in the banking system and it did not reach it's final destination. Kate, in Accounting, was able to reverse the payment and bring the $10,780.40 back to my trading account. The proces for the wire trace investigation as well as getting some of my funds re-withdrawn to my new bank account was nearly two weeks.
From the bottom of my heart, I want to thank Kate, in Accounting, and everyone else who helped with my situation, at Paxforex, and all the Paxforex team for helping me.
I bank with Wells Fargo. Kate, in Accounting Department, was able to withdraw money from my trading account on a Wenesday. By Friday, I saw that the money was bank wired and deposited into my Wells Fargo Bank account!!
Now, I am trading the market again and I no longer have the financial issues I had on April 27, 2015. Just today, Wenesday June 3, 2015 I made an easy $550 without blinking a single eyelid.
I am now a happy man. I hope and pray that Paxforex remains in business for decades to come. I hope and pray that Paxforex keeps there integrity in tact. With honesty and good business skills, Paxforex will do very well in the now and in the future.
By the way, my wife now has 8 felony counts against her. Even with a good lawyer on her side, she will still be charged with at least two felony counts. I am going to divorce her within the next 6 months so that I can move on with my life.
With all my love,
P.S Yesterday, June 4th I made $1,800 in less than 4 hour and on June 5th, because of Non Farm Payroll, I made $850 in less than 30 minutes. All these can be verified by Paxforex.com
2015-05-19 2 Stars On April 27, 2015, a bank wire request was made to my Wells Fargo Bank account. It is now May 18, 2015 and I have yet to see my bank wire. Paxforex, on monday, told me that they would have there bank do an investigation, instead of simply doing a bank wire Trace that should be free, and that there bank would charge me 100EUR which would come out of my trading account; if I receive my $10,780.40 to my bank account or...the 100eur would be taken out of my $10,780.40(U.S dollars) if the money returned to my trading account. It's been 4 weeks now and I still have not recieved my bank wire of $10,780.40. I don't know what's wrong or what to do.
Paxforex.com allowed my husband to steal $10,780.40 from our trading account by changing information and password to the account. DO NOT TRUST!!! PAXFOREX IS A SCAM!!!