PaxForex Review

2.735 · 51 REVIEWS
Updated: Jul 23, 2020 · PaxForex.com  · Is this your company?

PaxForex is a forex broker. Pax Forex offers the MetaTrader 4 and MT4 Mobile global forex trading top platforms. PaxForex.com offers over 55 forex pairs, shares, gold, silver, bitcoin and other cryptocurrencies for your personal investment and trading options.

PaxForex
February-March 2019:  Large numbers of fake and highly suspicious positive reviews have been submitted for PaxForex.
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Broker Details

Minimum Trade Size: 0.0001
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: 2010
Address: 1825, Cedar Hill Crest, Villa, Kingstown, Saint Vincent And Grenadines
Contact: info@paxforex.com, +44 203 504 0303
Regional offices:
Regulators: SVGFSA #201973 IBC 2014 1825
Prohibited countries:
Trading platforms: MT4
Mobile Trading: Yes
ECN: Yes
Currencies: (60+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (40+) Gold, Silver, Stocks
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Unknown
CopyTrading: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Qiwi, Skrill, Uphold, WebMoney
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Qiwi, Skrill, Uphold, WebMoney

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2.735 · 51 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Florida, USA,
Jan 17, 2020,
Registered user

Disregard my first review

Service use: Live

Length of use: over 1 Year

The withdrawal was successfully submitted. And the account support replied to my emails and even the contacted me via phone. It was just a miss-understanding.

They have excellent service and it just need time and patience to resolve any issues.

Please disregard the review below.

Jan 12, 2020 - 1 Star Since on Friday January 4th, 2020 I submitted a request for a withdrawal of $100.00. Then I got a notification, but did not get a confirmation Email. So I contacted support via chat and they said they would submitted again to account support. On Monday January 6th , 2020, I received an email for the following notification:

Thank you for choosing PaxForex as your trusted forex broker.

The amount of 100.00 USD has been deducted from your account xxxxxx55 and sent to Bank.

Part of PaxForex is about making forex trading easy for our users. The other part is about maintaining quality service delivery, always.

Which one did we fail at? We are here to listen.

Do you plan to continue in the nearest future or would you like to close your account with us?

We’ll really appreciate your reply; it will help us to improve our services!

Kind regards,
Anastasia Pavlik
Customer relationship manager
------------------------------------------------------------------------

So far I have not received any amount and no one has replied to my Email. How can you trust someone like them, be careful where you place your funds.
 
Usa, USA,
Jul 17, 2019,
Registered user

Stay away this is scam and fraud

Service use: Live

Length of use: 0-3 Months

The price are not accurate. The making there own price against u . Stay away guys . U will lose all money
  1 trader has found this review helpful
Reply by PaxForex Team submitted Dec 20, 2019:
Dear Roomal Ahmadzai,
please send to your personal manager an account number and order number where you experienced an issue with the spread. We will make an investigation if the price was accurate or not at that particular moment.

Also, we would like to pay your attention to the fact that you were our client for the last 2 years. And during this period you were making withdrawals from any of your accounts many times and you received it without any delay.

Roomal, we are always happy to help you with our expertise and service.

P.S. According to the events described, we have compiled a log of your activities. We choose not to post it for privacy reasons.

Best regards,
PaxForex Team
Indonesia, Indonesia,
Apr 24, 2019,
Registered user

PaxForex Is one of the best broker

PaxForex has good software, with small spreads, good market execution, and with fast customer service, I feel happy and comfortable trading with PaxForex
 
New York, USA,
Apr 18, 2019,
Registered user

Easy approval & no issues withdrawing my money (including profits - same day)

PaxForex really worked out for me very well. The Approval process was thorough but easy to pass and order execution was real quick. I made a nice few thousand dollars in a very short period. I was also able to withdraw all my money (including the profits) with no issues.

The only thing I didn't notice beforehand is that they charge 7% for withdrawing with BitCoin (US Customers can only deposit/withdraw using bitcoin due to US regulations so had no other choice available), but I made enough money so it didn't matter too much.

Thanks PaxForex team. See you again soon!
 
Seattle Washington, USA,
Apr 15, 2019,
Registered user

It’s important that I don’t overleverage my account or chase trades it’s the only reason why I lost my account

I can’t blame Pax for the loss of my account I was chasing the trades Pax an awesome brokerage.

Mar 21, 2019 - 1 Star I have traded live with this company over the course of a year with 3 accounts and it’s always the tragic emotionally deceptive feed worse trading conditions they place the little trader ($1000) mini. I have demo traded like a seasoned pro on mt4 using VPA. My rep over at Pax is with this scamming company. He waited for me to lose my money again to tell me about better trading conditions with a $2000 deposit with a standard account. Why is it not the same across the board! UNETHICAL is the correct response. When my account got down to the bare minimum I had no choice but to trade with proper leverage yet that made no difference. When the market went against me 15 pips the amount in the negative was like $20 bucks but when the market went in my favor like 45 pips I was only in the money maybe $6. The way they adjust there feed in the mini is treacherous. I pray that they loose all of there sleep for this robbery. When I questioned Will of this his response was that of acquiring a standard account. Then he said they have billions of dollars and they wouldn’t scam me for my little $800. My response to that was “ Will your brokerage makes there money on the little stupid trader like me that gets taken on an emotional rollercoaster that your feed is designed and programmed to do just that. PAXFOREX IS A HIGH IMMORAL AND UNETHICAL BROKERAGE. DO NOT TRADE WITH THEM THEY ARE SUPER THIEVES. Make them go hungry and homeless!

Reply by PaxForex Team submitted Apr 10, 2019 Dear Marcus Wayne Rauls

We are very sad and sorry to see that

It is all a misunderstanding situation from your side

Our support team and your account manager were in constant communication with you to explain it for you

If you would like you can download your Detailed history from the mt4 and compare all the deals with any other provider and you will see that there is no manipulation at all

If you don't know how to download the detailed history please contact our support team to provide it to you

you said it yourself you have been trading with us for almost a year and a half, during this time we were providing you with the best service and recommending for you the best trading conditions according to your investment as you mentioned it as well.

Feel free to contact us if you still need any explanation about your trades

Paxforex team
 
United States of America, USA,
Mar 12, 2019,
Registered user

Pax Forex amazing broker!

I have tried many brokers among my years in trading. Pax Forex is by far the greatest broker I have used, from quick easy deposits via wire transfer, bitcoin or debit card be well assured your deposits are handled in a very appropriate time. The spreads are just perfect for any type of trader from scalper to day and position trading. Excellent execution time with in seconds to have your trade placed. Pax Forex is very transparent with customer support available any time day or night for any questions or help customer support is very friendly and easy to talk to either thru live chat or a phone call away. I am beyond satisfied with the services Pax Forex has to offer they have accounts for any budget. I am so great full to have found them when I did. My experience with such a friendly broker has been amazing. Thank you Pax Forex!
 
Bangladesh,
Feb 7, 2019,
Registered user

PaxForex is real deal

PaxForex is very good since I started to work with them. But there are some good things and bad things about them. Like, they have not fast deposit. It takes three days ordering money for withdrawal from the account. But the good thing is they offer 1:500 leverage. That’s sound pretty good to me. There are no problems I had with them. If I have a problem there is always someone to help me to solve the problem. Finally, i can say that Thank You PaxForex team. I really appreciate PaxForex and recommend everyone.
 
New York, USA,
Jan 7, 2019,
Registered user

Worst broker ever

I 1st started out with them using a EA by a guy I used them for a few months pretty good for so I thought. I loaded my account using my debit card then after a few months I tried to withdrawal I couldn’t get back with my debit so I had to use a bank wire now I put my information in waited 2 weeks and got nothing I then emailed and they told it didn’t go through but these scam artist still took commission fees and never notified me the info was wrong. If I was you I wouldn’t deal with this broker at all not even a little bit run for the hills these guys suck and still having issues trying to get my money out from theses scam artist... they don’t even disclose there bank commission fees????
 
Reply by William-Paxforex submitted Feb 21, 2019:
Dear Client, We are very sorry for any inconvenience, Please contact us to solve this issue about Your withdrawal, any wire withdrawal can not take more than 15 working days according to banks rules unless you provided wrong wire details, So please contact our accounting department to solve this issue.
USA (Really the offices of PaxForex in Ukraine),
Dec 3, 2018,
Registered user

I work and spam for Pax Forex

I would like to take a minute and say THANK YOU Paxforex team. There are some really shady establishments out there but I have never had any problems with them. Nice market execution, spreads, support. worth trying.
  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
4 Star Rating Removed.

This review did not come from the USA.  It came from the Ukranian offices of PaxForex.

Per FPA Policy, the rating on this review has been set to Zero stars.

The FPA does not appreciate review spammers.
jeddah, Saudi Arabia,
Oct 26, 2018,
Registered user

Dirty company

They manipulate prices for your loss

Deals are executed at prices not recorded in the market

A question for the company's employees: Do you sleep in peace and you are a group of thieves
 
Reply by William-Paxforex submitted Feb 21, 2019:
We are very sorry for any inconvenience, The Client is happy and satisfied and started to trade again with us, As he is a loyal regular client of Paxforex, It was all just misunderstanding and has been solved.

Frequently Asked Questions

Is PaxForex regulated?

PaxForex is a trading name of Laino Group Limited, which is not regulated by any authority, but registered by (FSA) Financial Services Authority in St.Vincent & the Grenadines Registration Number 21973 IBC 2014 1825.

However the St. Vincent and the Grenadines Financial Services Authority (FSA) does not issue any licenses to carry on the business of FOREX Trading or Brokerage or Binary Options Trading nor does the FSA “Regulate, Monitor, Supervise or License” International Business Companies (IBCs) which engage in such activities.

What is the minimum deposit for PaxForex?

PaxForex introduces a variable minimum deposit based on the account type.

  • Cent account: the minimum deposit is $10
  • Mini account: the minimum deposit is $100
  • Standard account: the minimum deposit is $2,000
  • VIP account: the minimum deposit is $10,000

Does PaxForex offer Islamic (swap-free) account?

PaxForex does offer Islamic (swap-free) accounts.

Instead of swap, a settled commission is applicable on Islamic accounts and it bases on the asset traded and the amount of lots only, not on the interest rate.

How to open new Forex account with PaxForex?

The procedure of opening a new account with PaxForex is pretty straightforward.

  • 1. Click on the "Open trading account" in the site header
  • 2. Fill the personal data form
  • 3. Enter the SMS activation code
  • 4. Click the confirmation link from email you've received
  • 5. Choose the account type and the conditions which you prefer