PaxForex Review

2.609 · 54 REVIEWS

was PaxForex.com

Updated: Jan 7, 2021 · PaxForex.org  · 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.

PaxForex

September 2020:  The FBI has seized the PaxForex.com domain name.  If you have any dispute with PaxForex, please submit your information to www.IC3.gov.

PaxForex is still operating under PaxForex.org

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: 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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2.609 · 54 REVIEWS
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Traders Reviews

Puerto Rico,
May 4, 2017,
Registered user

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!!!
 
Qambari,
mazar, Afghanistan,
Aug 3, 2016,
Guest

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
 
Surin ,
, Malaysia,
Jun 13, 2016,
Guest


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.
 
zakaria,
nairobi, Kenya,
Mar 25, 2016,
Guest

i love the paxforex they are fast in responce to clients issues and friendly to clients.
 
Hilton,
Virginia, USA,
Dec 19, 2015,
Guest

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:
https://www.youtube.com/watch?v=GuL1c3RTMLU

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:
https://cabinet.paxforex.com/registration/standart?refid=4fbb7ae2-340f-4804-8401-8e5c13e4c792

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.

hilton

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,


Hilton M
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.
 
Eva,
Virginia, USA,
Dec 8, 2015,
Guest

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

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,
Guest

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,
Guest

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.
 
yambo,
, Spain,
May 31, 2015,
Guest

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 http://www.paxforex.com/paxforex. 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
 
Vladimir,
, Slovakia,
Jan 26, 2015,
Guest

Hello,
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,
Guest

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,
Guest

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.
 
Dphukan007,
Assam, India,
Jul 8, 2014,
Guest

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.
 
zone,
Miami, USA,
Jan 22, 2014,
Guest

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
 
saiful 310,
, Brunei Darussalam,
Dec 17, 2013,
Guest

Pax forex is one of the best broker,fast execution,latest fx news for client information,very helpful broker,keep it up guys.
 
Umberto,
, Italy,
Nov 11, 2013,
Guest

That's a joke broker. Their spreads are most of the time huge! Incomprehensible slippage too... Tested with their MT4 terminal.
However the $7 welcome bonus is available in few minutes for trading after opening account with them...
 
Pavel,
Moscow, Russian Federation,
Sep 11, 2013,
Guest

Put these broker in to my portfolio almost a year ago. Good broker with own pluses and minuses. Requotes happens but very rare, but I'm not a scalper. Spreads most of the day below average, makes them wide during the news time. But I saw such picture with every broker. Support is ok. Withdraw take some times few minuts, some time few hours. Only at once they make my withdraw next day.
 
Jason C,
Alaska, USA,
Aug 9, 2013,
Guest

Follow up review:
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).
  1 trader has found this review helpful
bxxxx,
uk, United Kingdom,
Jul 16, 2013,
Guest

the best brooker around is paxforex so get in today.
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.

 
Dxxxxx,
rawalpindi , Pakistan,
Jul 9, 2013,
Guest

excellent broker and good turms and conditionos for new user !! My Account Number: 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.
 
Лисогор Николай Юрьевич,
LIS39, Russian Federation,
Jul 4, 2013,
Guest

PAXFOREX one of the best centers with whom to work,everything is very clear and understandable,and most importantly,support,works very fast and very politely,continuing the network.
 
NAME REMOVED,
LOCATION REMOVED,
Jun 10, 2013,
Guest

Please. I want 100% bonus of my initial deposit. Thanks

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.
 
niuyue,
shandong, China,
Mar 4, 2013,
Guest

pax forex is truthful, this broker give me chance to trade with good conditions and I can withdrawal my profit now
 
kevin,
california, USA,
Feb 14, 2013,
Guest

requotes after requotes!!! normally 1 to 3 requotes and sometimes 8 requotes in a row which mean they do not want you to get out of losing trade at all!! spreads and excutions are not any better and sometimes mt4 freezes. is this a scam?
 

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