PaxForex Review

2.53 · 53 REVIEWS

was PaxForex.com

Updated: Oct 16, 2020 · PaxForex.org  · Is this your company?

PaxForex is a forex broker. Pax Forex offers the MetaTrader 4 and MT4 Mobile global forex trading top platforms. PaxForex.org offers over 55 forex pairs, shares, gold, silver, bitcoin and other cryptocurrencies for your personal investment and trading options.

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.
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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: 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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2.53 · 53 REVIEWS
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Traders Reviews

Jerry,
Canada,
Jul 15, 2011,
Guest

I just recently opened a live trading account with Paxforex... I must say it was a very nice surprise as to how fast my deposit and withdrawal went through...

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.
 
Mobolarjee,
Nigeria,
Jul 26, 2011,
Guest

Very bad broker. high level of slipage and also freezes accounts of client.
 
TUTY SUMARYANTI,
BOGOR , Indonesia,
Jan 8, 2012,
Guest

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.
 
FJ,
Moscow, Russian Federation,
Feb 17, 2012,
Guest

I don't see any scam about this broker, because I already withdrawal my profit without any problems
 
agronomik,
Lozova, Moldova, Republic of,
Mar 7, 2012,
Guest

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.
 
James,
Perth, Australia,
Apr 20, 2012,
Guest

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
 
manikah,
Dhaka, Bangladesh,
Jun 19, 2012,
Guest

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.
 
Guy McElroy,
Florida, USA,
Jul 16, 2012,
Guest

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.
 
JNANENDRA KISHORE,
JAMSHEDPUR, India,
Oct 20, 2012,
Guest

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!!
 
sean,
idaho, USA,
Dec 4, 2012,
Guest

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,
 

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