Broker Details
Minimum Trade Size: | 0.0001 |
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Maximum Leverage: | 500:1 |
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Minimum to Open Live: | $10 |
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Established: | 2010 |
Address: | 1825, Cedar Hill Crest, Villa, Kingstown, Saint Vincent And Grenadines |
Contact: | info@paxforex.org, +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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Traders Reviews
However the $7 welcome bonus is available in few minutes for trading after opening account with them...
Stay away from this "broker", if they could even be called a broker.
Observe how people are posting their account numbers in the reviews recently and if you visit "http://www.bestforexbonus.com/no-deposit-bonus/paxforex5" you will find nothing but people posting positive reviews with their account number.
This broker is a scam; people post their account numbers to receive small amounts of money in return for leaving positive reviews. They would have absolutely zero positive reviews if not for this deceitful practice as they have truly TERRIBLE trading conditions and are simply out to own your deposit. Stay away, do not deposit any money. You will receive nonexistent price spikes just large enough to wipe you out, you will receive requote after requote in an effort to keep you in bad trades and out of good trades, they will not pay you if you do manage to get a little profit. You have been warned.
2013-05-28 1 Star To anyone considering this broker; DONT GIVE THEM A PENNY. All of the reviews here are people taking advantage of their referring broker offer (they tried to offer me $7 to post a positive review).
In reality this is a bucket shop like any other. They will raise the spread, send spikes, give you a requote every single time you place an order(if its a good one), and when all else fails and they had no way to keep me from profiting they began to resort to crashing the client. Please do me a favor and help them go out of business. This is the worst broker you could imagine. Once I did stop trading with them I began to receive multiple calls a day trying to convince me to resume trading (handing them money).
My account number is 1*****
Review Moderation Team Note: Name, rating, and account number removed. The FPA is not going to approve any more "Broker is great! My account number is 123456" reviews for this company.
Review Moderation Team Note: Name, rating, and account number removed. The FPA is not going to approve any more "Broker is great! My account number is 123456" reviews for this company.
FPA Review Moderation Team Note: 5 star rating, name, and location removed from this review.
The FPA does NOT support this abuse of giving bonuses in exchange for reviews. If a broker offers you money in exchange for submitting a review, please use the "Contact Us" link and let us know.
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