There is no way this broker has the many positive reviews. They are a complete scam. First, they require you to make a copy of your hash when transferring BTC into your account. No other broker I have used requires this. If you do not follow up with them, you will never get your deposit. Then, when trying to withdrawal money, they tell you there is a 20% fee for BTC. Again, no other broker I have seen charges this much. And since I was already suspicious of them on the deposit, I did not trade and just wanted my money back. They tell me about the BTC charge, their paypal is down and there is another 20% fee due to no trading. When following up again, they will not respond. Thank goodness I only tested them with $100. If you think you are going to get any of your money back from these guys - you are crazy. Complete scam.
I decided to try Pax after getting a call from an account manager to take them up on their "special" for no commissions if depositing >$300 into a mini account. Spreads were supposed to be "from .8" on majors. The deposit was quick using bitcoin (less than 30 minutes). I apply an indicator in charts before I start trading to check for conditions. I then notice their spreads on EU were 45, GU 60, etc. No where near "from .8). I did not make any trades to check slippage, but I can assume that would be horrendous as well. I immediately requested a withdrawal via bitcoin for the money I deposited. They said it takes "24 hours" to process. I have used 5 brokers in the last year and not one takes 24 hours to process a bitcoin withdrawal. Then, when asking online in IM, the guys says it can take up to 48 hours! During this time, I did not receive one confirmation email about the withdrawal. I have asked over and over for the email and they keep saying to request the withdrawal again. It has been 21 hours since my original withdrawal request. I seriously doubt I am going to see my money ever again. And regardless of that, you should not use a broker who has such HUGE spreads. There will be no way for you to make any money with them. You have been warned.
Reply by William-Paxforex submitted Sep 29, 2020:
Please be noted that your withdrawal request was processed within 24 hours from your request as we mentioned that on our website on the withdrawal page about the time of each withdrawal method
feel free to see it here on our website https://paxforex.org/withdrawal
Besides that your account manager was in constant contact with you by phone and emails and was replying to all your emails exactly after one minute of you sending them, also gave all the required info about the timing and the procedures and confirmed receiving the request with you.
About the spread Paxforex provide a very competitive spread regardless that we don't charge any extra commission for your trading
you can check our spreads on our website page https://paxforex.org/trading-conditions/forex
We understand that the Mini account the spread is higher than the standard account but you were offered a 50% discount for the standard account to enjoy the spread starting from 0.4 but you refused it.
If you will have any future query feel free to contact our support team
They have way too many errors on their website and for MT4. I made a deposit, had a couple of trades (losses) and wanted to withdrawal the rest of the money out of the account. Due to the errors on their site, there is not space for the bitcoin address. I emailed support and there is no response. And this is the second email address I had for them. The support email on their site does not work. When chatting with them on IM, they keep telling me their site is working for withdrawals, but it doesn't. They even remote accessed my computer and still could not get it to work. So, as of today, I will never get my money back from these crooks. STAY CLEAR!!!
I signed up and tried to put just $200 into a broker account. They make you use Vload to deposit and withdrawal. So, Vload charges $10 for deposit, then traders way charges $10 to withdrawal, then vload charges $30 to get back to checking account. I never made a trade because the spreads were too high. So, out of $200, I wasted $50 and never made a trade. What a complete rip off. Never again.
3 traders have found this review helpful
Reply by Mr.Max.TW submitted Jul 21, 2020:
The number of deposit/withdrawal options available to clients in your region is limited, however you can always feel free to use cryptocurrency to deposit/withdraw your funds, as these carry no fees on our end. Note that all fees involving Vload deposits and withdrawals are not charged by us, but by Vload. Trader's Way does not make any money on funds transfers.