PaxForex Review

2.657 • 56 REVIEWS
Updated: Feb 8, 2024

PaxForex is a forex broker with its corporate flag located in Saint Vincent and the Grenadines. This leaves PaxForex free to offer high leverage, up to 500:1 currently.

In terms of platforms, PaxForex offers MT4, MT4 mobile, and MT4 multermimal, which permits multiple accounts to be traded simultaneously. ECN accounts are offered. Scalping, news spike trading, and EAs are permitted. There is also a copytrading feature available.

PaxForex's support options include an FAQ, phone, email, contact form, and live chat.

PaxForex has been offering forex trading since 2010. In addition to many of the usual CFDs offered by many forex brokers, PaxForex also has a small number of cryptocurrencies available for trading.

September 2020:  The FBI has seized the domain name.  If you have any dispute with PaxForex, please submit your information to

PaxForex is still operating under

February-March 2019:  Large numbers of fake and highly suspicious positive reviews have been submitted for PaxForex.
If you were required to submit a review, forums post, or blog post as part of a bonus program, please CLICK HERE and submit evidence.

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:, +44 203 504 0303
Regional offices:
Regulators: SVGFSA #201973 IBC 2014 1825
Prohibited countries:
Trading platforms: MT4
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (60+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (40+) Gold, Silver, Stocks

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ❔ Unknown
Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Qiwi, Skrill, Uphold, WebMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Qiwi, Skrill, Uphold, WebMoney
* Please check broker website for more information
2.657 • 56 REVIEWS

Recent User Reviews of PaxForex

Roosendaal, Netherlands,
Mar 25, 2021,
Registered user


Service use: Live Length of use: 0-3 Months
hey fellow traders,
I experienced lots of difficulties when it comes to withdrawing my money.
I can't get my money back for some reason, in my opinion they are absolute imbecils.
please do not deposit your money on this broker, you will NOT get it back!
$3000 for me is gone right now, because of this criminal organization.
Reply by William-Paxforex submitted Jul 6, 2021:
Dear angelo2001
IF YOU ARE A Client With PaxForex
You can withdraw your funds at any time from your cabinet.
All Withdrawal Time: Instant Execution between 9:00 to 18:00 Server time (GMT+3) (Monday - Friday)

Again IF YOU ARE A Client Contact your personal manager or our support representatives to help you at all times
South Carolina, USA,
Feb 6, 2021,
Registered user

Good Broker Overall

Service use: Live Length of use: 3-6 Months
I have been using Pax for over 3 months now with no issues. It is easy to make deposits and withdrawals. You are assigned a personal account manager who is available to you by phone, email, and Telegram. My account manager actually calls me to see how things are going. High Five! The only negative is that BTC withdrawal fees are a bit high at 4.75%. I have told them this and they are working on other vendors to reduce this fee. I recommend Pax.
Reply by William-Paxforex submitted Feb 26, 2021:
Dear JediMasterRyon,
Thank you for your feedback and recommendation of our service here at PaxForex.

Regarding BTC fees, at the moment we use a third-party exchanger to convert BTC to USD and back. We already negotiated a decrement of withdrawal fee from 4,75% to 3,99% for BTC and we are trying to lower the fee by looking for a trusted and reliable exchanger in the nearest future.

Have a nice trading week.
Best of luck.
PaxForex Team
Mur, Switzerland,
Jan 6, 2021,
Registered user

Pax Forex just fine !

Service use: Live Length of use: over 1 Year
Have been with them now for about 5 years (demo account) and several months (live account) and there has never been any issue whatsoever. My account manager is always very friendly and co-operative and doesn't put one under pressure like others do. Their spreads are maybe a bit wider than elsewhere, but other advantages make up for that. Unless you're an M1 scalper, heartily recommended !
Reply by William-Paxforex submitted Feb 26, 2021:
Dear Maduet,

Thank you for your review about PaxForex. We consistently work on improving our conditions and make our spread even lower. Right now it starting from 0,4 pip for EUR/USD on our Standard & VIP Account.

Your feedback and recommendation of our service here at PaxForex are highly appreciated.

Wish you successful trading.
PaxForex Team.
bay area, USA,
Sep 28, 2020,
Registered user

paxforex has been seized by FBI!!!

Service use: Live Length of use: 6-12 Months
im trying to access my demo account and cents account to this broker. i cant access it and it say not secure. and later found out that this broker has been seized by the FBI.
too late i cant withdraw my live cents account.
Reply by William-Paxforex submitted Sep 30, 2020:
Dear Hustler328,
If you have an account with PaxForex Demo or Live you can visit our site and you will have access to all of your accounts trading terminal and everything is working as usual.

Please note for withdrawal you will need to make a request from your cabinet or get in contact with your manager He/She will help you more.

Sep 23, 2020,
Registered user

Not a good all

Service use: Live Length of use: 0-3 Months
I decided to try Pax after getting a call from an account manager to take them up on their "special" for no commissions if depositing >$300 into a mini account. Spreads were supposed to be "from .8" on majors. The deposit was quick using bitcoin (less than 30 minutes). I apply an indicator in charts before I start trading to check for conditions. I then notice their spreads on EU were 45, GU 60, etc. No where near "from .8). I did not make any trades to check slippage, but I can assume that would be horrendous as well. I immediately requested a withdrawal via bitcoin for the money I deposited. They said it takes "24 hours" to process. I have used 5 brokers in the last year and not one takes 24 hours to process a bitcoin withdrawal. Then, when asking online in IM, the guys says it can take up to 48 hours! During this time, I did not receive one confirmation email about the withdrawal. I have asked over and over for the email and they keep saying to request the withdrawal again. It has been 21 hours since my original withdrawal request. I seriously doubt I am going to see my money ever again. And regardless of that, you should not use a broker who has such HUGE spreads. There will be no way for you to make any money with them. You have been warned.
Reply by William-Paxforex submitted Sep 29, 2020:
Please be noted that your withdrawal request was processed within 24 hours from your request as we mentioned that on our website on the withdrawal page about the time of each withdrawal method
feel free to see it here on our website
Besides that your account manager was in constant contact with you by phone and emails and was replying to all your emails exactly after one minute of you sending them, also gave all the required info about the timing and the procedures and confirmed receiving the request with you.
About the spread Paxforex provide a very competitive spread regardless that we don't charge any extra commission for your trading
you can check our spreads on our website page
We understand that the Mini account the spread is higher than the standard account but you were offered a 50% discount for the standard account to enjoy the spread starting from 0.4 but you refused it.
If you will have any future query feel free to contact our support team
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 17, 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

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