PaxForex Review

2.609 · 54 REVIEWS


Updated: Jan 7, 2021 ·  · Is this your company?

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.
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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:, +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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2.609 · 54 REVIEWS
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Traders Reviews

Virginia, USA,
Dec 8, 2015,
Guest 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!!!
  1 trader has found this review helpful
Michael Mardas,
Thessaloniki, Greece,
Nov 14, 2015,

I am a longtime trader with paxforex and the quick and reliable customer support was a big 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 highly recommended paxforex!
Awura Adeck Bina,
Lafia, Nigeria,
Aug 8, 2015,

I have been trading with Paxforex since 2012. The are wonderful when it comes to withdrawal and response to issues concerning their clients.
Vlad, ,
, Czech Republic,
Jul 28, 2015,

Paxforex is a decent broker where we copied some trades and enjoyed high IB commissions. These are paid to IBs only if their clients make new and new deposit each month. Because of this, we found another broker where commissions are paid regardless on clients deposits. Withdrawal of IB commissions and other funds was OK. They have high spreads on mini account but good ones on classic with 2K minimal deposit. Support is good. Overall we recommend this broker as a good trading partner.
, Spain,
May 31, 2015,

The Financial Services Authority wishes to advise that an entity called “PaxForex” claiming to offer Forex Services as a registered St. Vincent and the Grenadines International Business Company, is not and has never been registered by the St. Vincent and the Grenadines Financial Services Authority.

The purported entity PaxForex advertises its services through the website It also claims that its address is Cedar Hill Crest, Villa,
Saint Vincent and the Grenadines. The Financial Services Authority therefore advises that persons who have paid funds to PaxForex through its website and are experiencing difficulties recouping their funds, should consider contacting their relevant authorities.

Issued By:
Financial Services Authority
29th May, 2014
, Slovakia,
Jan 26, 2015,

I was IB for this broker. Broker talk very sweet and look ok. So i give him chance. Pay me big zero! But will pay, when i send in this company client with 1000 usd.

Stay away! This is scam.
Change terms in agreement and lie.
I reccomanded use some normal broker. Not lost time and money in Paxforex.
Zaman Suleman,
Lahore, Pakistan,
Nov 16, 2014,

I deposited 200 dollars in paxforex and earn 219$ in a single entry in eur/usd ....
they blocked my transcation and said it is illegal ... trade 25 standard Lots more then we will give you withdraw
They are just scammer dont Invest with them
Asif Gholamrasol,
Kabul, Afghanistan,
Sep 12, 2014,

As I have my own trading experiences in Forex specially in MT4 meta trader that I have used before with other forex brokers
then came to Paxforex and the Paxforex trading station is the best one for me and I am trading now with them because:
thier order accessing is very fast and quick. and also the spread is great.
the customer support is so friendly and quick responding.
have a lot of payment methods to withdraw your money.
they have also a great deposit and no deposit offer for new joiner.
so these are the reasons i have chosen paxforex as my best broker.
Assam, India,
Jul 8, 2014,

PaxForex have one of the best customer support service and low spread mt4 that helps traders to trade peacefully. I like to suggest PaxForex to everyone.
Miami, USA,
Jan 22, 2014,

After comparing their execution speed, spread differences, etc on a demo account with other brokers this broker is highly questionable, especially with luring people with their bonuses...I guess they make up their giveaways bonuses with their huge spreads lol

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