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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Traders Reviews
Very bad broker. high level of slipage and also freezes accounts of client.
This is company a big scam, I deposit in forex pax and in 2 days, I have a 100% profit, and I want to withdrawal my profit, but they delete all my profit. please to all the traders , do not trade in this company, because your profits will not be paid.
I don't see any scam about this broker, because I already withdrawal my profit without any problems
I dont understund people who have any problem with this broker.Of my experience with this broker can certainly say that is safe and perormant company.Good speed of procesing the orders.
I would be very careful about trading with this broker. There demo and live servers are the same and the account man for live accounts is Green! Sounds like a big red flag!! Live chat cant assist in this problem also
Just few days ago I joined myself in www.paxforex.com for trading but its service really satified me.Even its negative balance protection also attract me.
Very good broker all around. No hedging with my US account, all
the major pairs and more, lots of good indicators an the MT4 platform which is easy to use. Funds are secure, transactions fast, easy to enroll.
the major pairs and more, lots of good indicators an the MT4 platform which is easy to use. Funds are secure, transactions fast, easy to enroll.
I am writing this review about Pax Forex because I recently joined with their "Be Online" Live Account with a "No Deposit Scheme" for USD 200. But this review is not only for this type of broker, but also for other brokers which we can find here on this website.
First of all, I would like to mention that Pax Forex broker has lots of "Requotes" when I place orders which is well programmed by the Dealing Desk.
Second problem is that I cannot place Stop Orders less than 50 points between TP AND SL.
Third, when you place orders for Scalp trading, find out that I am losing the trade and I want to close the trade they won't accept this order and a message will come like this---"MARKET ORDER IS TOO CLOSE". So, you are bound to face a losing trade.
Fourth and the last problem is that when you chat with the company person online, they will simply say that I should send an email to solve the problem. This means that these persons who chat with us is trained to inform the clients like this when I put my problems in front of them.
There is nothing like that one would benefit, from this scheme of "Be Online" USD 200 deposit.
The final thing which I find and which I want to write in general is that after going through the reviews of many forex brokers I HAVE A VERY MIXED FEELING, BOTH GOOD AND BAD.
The reason for this mixed feeling is simple. Almost all Scamming and Non-Scamming or well established brokers with good reputations have some percentage of negative reviews. Their plan is simple. The first plan which I can understand is that they decide each year how much percentage of clients to be scammed and how much percentage of clients not to be scammed. Some forex brokers who are totally defamed and labeled as Scammed on this website is that their ulterior motive is to scam 90% of its clients and leave the rest of the 10% as happy and satisfied clients. It is just the opposite of the well reputed brokers like Dukascopy, FXCM, etc. that they keep 80% to 90% of their total clients happy and satisfied with their services and victimize the remaining 20% or 10% of their clients each year. HENCE, THE VALID REASON OF THIS MIXED FEELINGS!!
First of all, I would like to mention that Pax Forex broker has lots of "Requotes" when I place orders which is well programmed by the Dealing Desk.
Second problem is that I cannot place Stop Orders less than 50 points between TP AND SL.
Third, when you place orders for Scalp trading, find out that I am losing the trade and I want to close the trade they won't accept this order and a message will come like this---"MARKET ORDER IS TOO CLOSE". So, you are bound to face a losing trade.
Fourth and the last problem is that when you chat with the company person online, they will simply say that I should send an email to solve the problem. This means that these persons who chat with us is trained to inform the clients like this when I put my problems in front of them.
There is nothing like that one would benefit, from this scheme of "Be Online" USD 200 deposit.
The final thing which I find and which I want to write in general is that after going through the reviews of many forex brokers I HAVE A VERY MIXED FEELING, BOTH GOOD AND BAD.
The reason for this mixed feeling is simple. Almost all Scamming and Non-Scamming or well established brokers with good reputations have some percentage of negative reviews. Their plan is simple. The first plan which I can understand is that they decide each year how much percentage of clients to be scammed and how much percentage of clients not to be scammed. Some forex brokers who are totally defamed and labeled as Scammed on this website is that their ulterior motive is to scam 90% of its clients and leave the rest of the 10% as happy and satisfied clients. It is just the opposite of the well reputed brokers like Dukascopy, FXCM, etc. that they keep 80% to 90% of their total clients happy and satisfied with their services and victimize the remaining 20% or 10% of their clients each year. HENCE, THE VALID REASON OF THIS MIXED FEELINGS!!
I have not had any withdrawl problems (YET) but there trade execution and requotes are awful.
I addressed this with support and they were no help.
Now i am wondering if it's a scam,
I addressed this with support and they were no help.
Now i am wondering if it's a scam,
Hi,
They seem to be making money by cheating their clients. Seems like whenever their monthly revenue goes down(may be because the clients quitting the company) they find ways to make money by other means. I read thier bonus advertisement on a forex forum and I thought that I could use the bonus as an extra cushion during my trading. Before registering I had checked with their support team at least twice that in case if I can't complete thier volume lots trading then can I still withdraw my money in the future. They clearly said "Yes, you can take everything except the bonus amount ". After 2 months of hard work and with my friend's assistance in the setups I was able to make about #1296 USD. Due to unavoidable reasons I thought I would withdraw for now and may be start my trading after january. But now the broker does not want to give me my profits.. They are forcing me to complete 60 lots else I cannot withdraw my profits. I had confirmed this twice before I deposited my money and then once recently when they emailed me saying that I cannot take my profit. The support guy confirmed the same that I can withdraw everything except the bonus. I have the proof of that communication. It is my hard earned money, but I am now struggling to take my own money. More info here - http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/22419-fellow-traders-kindly-guide-me-paxforex-has-cheated-me.html
They seem to be making money by cheating their clients. Seems like whenever their monthly revenue goes down(may be because the clients quitting the company) they find ways to make money by other means. I read thier bonus advertisement on a forex forum and I thought that I could use the bonus as an extra cushion during my trading. Before registering I had checked with their support team at least twice that in case if I can't complete thier volume lots trading then can I still withdraw my money in the future. They clearly said "Yes, you can take everything except the bonus amount ". After 2 months of hard work and with my friend's assistance in the setups I was able to make about #1296 USD. Due to unavoidable reasons I thought I would withdraw for now and may be start my trading after january. But now the broker does not want to give me my profits.. They are forcing me to complete 60 lots else I cannot withdraw my profits. I had confirmed this twice before I deposited my money and then once recently when they emailed me saying that I cannot take my profit. The support guy confirmed the same that I can withdraw everything except the bonus. I have the proof of that communication. It is my hard earned money, but I am now struggling to take my own money. More info here - http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/22419-fellow-traders-kindly-guide-me-paxforex-has-cheated-me.html
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?
pax forex is truthful, this broker give me chance to trade with good conditions and I can withdrawal my profit now
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.
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.
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.
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.
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.
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.
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.
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).
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
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.
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...
However the $7 welcome bonus is available in few minutes for trading after opening account with them...
Pax forex is one of the best broker,fast execution,latest fx news for client information,very helpful broker,keep it up guys.
After comparing their execution speed, spread differences, etc on a demo account with other brokers this broker is highly questionable, especially with luring people with their bonuses...I guess they make up their giveaways bonuses with their huge spreads lol
PaxForex have one of the best customer support service and low spread mt4 that helps traders to trade peacefully. I like to suggest PaxForex to everyone.
As I have my own trading experiences in Forex specially in MT4 meta trader that I have used before with other forex brokers
then came to Paxforex and the Paxforex trading station is the best one for me and I am trading now with them because:
thier order accessing is very fast and quick. and also the spread is great.
the customer support is so friendly and quick responding.
have a lot of payment methods to withdraw your money.
they have also a great deposit and no deposit offer for new joiner.
so these are the reasons i have chosen paxforex as my best broker.
then came to Paxforex and the Paxforex trading station is the best one for me and I am trading now with them because:
thier order accessing is very fast and quick. and also the spread is great.
the customer support is so friendly and quick responding.
have a lot of payment methods to withdraw your money.
they have also a great deposit and no deposit offer for new joiner.
so these are the reasons i have chosen paxforex as my best broker.
I deposited 200 dollars in paxforex and earn 219$ 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
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
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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
I used Paypal and my deposit went through in under one hour... before I even traded one lot I turned around and withdrew a small amount of money to test things out on that end as well... no problems again my money went back to my Paypal account in under one hour...
For myself this is the smoothest I have found for any broker I have tried. I only have a micro account with Paxforex and have already made a few bucks with them... I will probably go to a standard account with them soon but so far I have no broblems with this broker.