PaxForex Review

Minimum Deposit: $10 VISIT BROKER
Please note that trading in leveraged products may involve a significant level of risk and is not suitable for all investors. You should not risk more than you are prepared to lose.

PaxForex Review

Summary

PaxForex is an online CFDs and Forex retail trading broker founded in 2018. The broker’s parent company is Laino Group Ltd, registered in St. Vincent and the Grenadines since 2011. PaxForex provides a diverse range of Forex, Stocks, Options, and CFDs trading options via STP/ECN connection to its clients. The broker provides low spreads and commission-free trading through the adaptable and user-friendly MetaTrader 4 platform for web, desktop, and mobile devices. Traders also get access to educational content, daily market research, handy trading tools, a variety of payment methods, and 24/5 customer support. First, let’s summarise the pros and cons of PaxForex. Then we’ll closely address each feature and service provided.

8Expert Score
PaxForex Rating

PaxForex provides customers with some of the best possible conditions for forex trading. They have offers for both beginners and experienced traders alike.

Investment Products
8
Commissions and Fees
8
Platforms and Tools
8
Research and Education
8
Deposit and Withdrawal
8

PaxForex Review

Pros and Cons

The parent company of PaxForex has been offering its services since 2010. Various trading instruments over several asset classes with tight spreads and low commission make PaxForex a good broker. The broker requires a very low minimum deposit to start trading, offers demo trading, and also offers swap-free Islamic accounts. A wide range of educational and research resources also help traders in making the right decisions. New traders can benefit from free trade signals to grow their accounts. You can automate trading with a free VPS service provided by the broker.

On the other hand, PaxForex is not registered by any government regulatory authority yet. The broker is not a public company and does not hold a banking license. The broker has no financial statements available publicly. The broker only offers an MT4 trading platform. PaxForex does not offer cryptocurrency trading, and shares trading costs are comparatively high. In addition, the broker does not provide zero spread accounts.

Positives
  • User-friendly MetaTrader 4
  • Low minimum deposit
  • Tight spreads & swift executions
  • Zero commission
  • Various payment methods
  • Multiple account types
  • Daily analysis
  • Research and recommendations
  • Free VPS
  • Training resources
  • 24/5 multilingual customer support
  • Islamic account
  • Free trade signals
  • MT4 MultiTerminal
  • Copy-trading
  • Demo trading
  • Cent account
  • $10 minimum deposit
  • No inactivity fees
Negatives
  • Not regulated
  • MT4 trading platform only
  • No banking license
  • No cryptocurrency trading
  • High spreads on shares

PaxForex Review

Investment Products

PaxForex offers over 100 trading instruments over many asset classes such as forex, CFDs commodities, indices, and shares. The broker does not offer cryptocurrencies, options, bonds, or ETFs at all. Overall, the broker has a limited product portfolio when compared to some of the best forex brokers.

PaxForex Instruments Summary

InstrumentsPaxForex
Forex
Stocks
Indices
Commodities
Cryptosx
Optionsx
Bondsx
ETFsx
CFDs
PaxForex Instruments

PaxForex Review

Commission and Fees

Commission and Spread Fees

PaxForex offers commission-free trading with tight spreads. The spreads start from 0.4 pip on the VIP account and go beyond 2.4 pip on a Cent account. However, each account requires different minimum deposits. Therefore, traders of all types can open an account according to their needs.

Fee Cent Account Mini Account Standard Account VIP Account
Commission (per standard lot per side)$0$0$0$0
Spreads from2.41.40.40.4
PaxForex Fees

Deposit and Withdrawal Fees

PaxForex charges a deposit fee for some electronic payment methods and bank transfers. The broker does not charge any deposit fee on deposits above $300 from debit/credit cards. PaxForex charges a withdrawal fee for most of the payment methods. 5.5% withdrawal fee from debit/credit cards, bank commission on bank transfers, and on average 1% withdrawal fee on some electronic payment methods apply.

Inactivity Fees

PaxForex does not charge an inactivity fee from its clients who have not conducted any trading activity for a while.

PaxForex Review

Platforms and Tools

PaxForex offers a proprietary web trading platform. The broker also offers MetaTrader 4 and MetaTrader Multiterminal across web, desktop, and mobile devices.

PaxForex MT4 Platforms
PaxForex MT4 Platforms

MetaTrader (MT4) Desktop

All PaxForex clients have access to the popular MetaTrader 4 (MT4) trading platform. PaxForex’s platform is the only one accessible. Because of its speed, functionality, and intricacy, MT4 is frequently used by both brokers and traders. The MT4 platform is used by millions worldwide, and dozens of custom indicators and expert advisers are accessible. The PaxForex MT4 platform is offered as both a desktop and a mobile app. Here are a handful of the MT4’s features:

  • Market watch
  • Customisable charts
  • 3 chart types and 11 timeframes
  • 40+ technical indicators and many chart drawing objects
  • Support for expert advisers (EAs).
  • Price alert messages
  • Real-time price quotes
  • Market and pending orders
  • Stoploss and take profit orders
  • Available on windows
  • One-click trading and trading from charts
  • MetaQuotes marketplace
PaxForex MT4 Desktop Platform
PaxForex MT4 Desktop Platform

Web Trading Platform (Allpips)

PaxForex offers its proprietary web trading platform provided by Allpips. The trading platform is very modern and up-to-date. Salient features of the Allpips web trading platform are as follows:

  • Free for all
  • Demo trading
  • Safe and secure (cloud terminal)
  • Trading dashboard
  • Accounts management
  • One-click trading
  • Trade from the charts
  • Multiple order options
  • 3 charts types
  • Customisable chart templates
  • Technical indicators for technical analysis
PaxForex Allpips
PaxForex Allpips

Mobile Trading (MT4)

MT4 is also available for mobile devices running Android or iOS. The mobile programme may be downloaded from the PaxForex website’s traders’ cabinet area. The MT4 app is straightforward and easy to use. It is entirely compatible with accounts made with the desktop version. Here are the key features of the MT4 mobile app:

  • Live price quotes
  • Favourite instruments list
  • Simple design
  • 3 chart types and 11 timeframes
  • 30 technical indicators
  • 24 drawing objects
  • Market and pending orders.
  • Notifications alerts
PaxForex MT4 Investing App
PaxForex MT4 Investing App

MT4 MultiTerminal

Users of the MT4 MultiTerminal may handle up to 100 accounts at the same time. This approach is suitable for investment managers who want to easily combine different trading activities. MultiTerminal has all of the same capabilities as the basic MT4 terminal.

Virtual Private Server (VPS)

PaxForex provides all clients with a Virtual Private Server (VPS). On the other hand, VIP account members get free access to VPS, while other clients must pay a monthly subscription price of $25. The virtual private server (VPS) is appropriate for clients that employ automated trading systems such as expert advisors (EAs). The VPS provides low latency and dependable and consistent connection to PaxForex trading servers. A virtual private server (VPS) is used to remotely run trading platforms 24 hours a day, seven days a week, without the requirement for your own computer to be turned on.

Copy Trading

PaxForex’s copy-trading service allows you to manage an infinite number of accounts from a single account using the MT4 platform. When clients request to be linked to your copy trading service, all you have to do is open trades and you can start earning money through the PaxForex Revenue Share programme. It is important to emphasise that there is absolutely no guarantee on how good or bad the trading signals will perform. You should be aware of the significant risks involved with trading online.

PaxForex Platforms Summary

PlatformPaxForex
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTraderx
Proprietary
Desktop
Web
Mobile
Social Trading
Other x
PaxForex Platforms

PaxForex Review

Research and Education

Education Guides

PaxForex’s website has a number of educational resources. Several articles about forex and CFD trading are categorised under the ‘forex trading course.’ These article lessons are intended to provide novices with a solid foundation to build on. Lessons include a variety of trading subjects such as market research, trade positions, money management, platform, and much more. There is also a glossary of forex/CFD trading lingo. The vocabulary includes over 200 technical trading words, as well as their definitions or explanations.

Economic Calendar

This is a calendar of global economic events, including dates, timings, and locations. These occurrences are expected to have an influence on currencies or other trading instruments. Traders may base their trading decisions on historical data, analyst estimates, and a variety of other considerations. For traders who speculate on fundamental research, the economic calendar is an essential trading tool. It may also be configured to display only the trader’s preferred events, assets, country, dates, and so on.

Forex News/Blog

Forex News/Blog section contains various articles related to trading strategies and global economic events that can change the course of markets.

Daily Forex Technical Analysis

In this section, PaxForex offers daily technical analysis for popular currency pairs. These technical analyses explain all the technical aspects of those forex instruments and recommend action in the described case.

Daily Fundamental Analysis

In this section, daily fundamental analysis is provided for popular markets such as currencies and stocks.

Forex Calculator

This tool is intended to assist traders in calculating pip costs depending on the instrument of choice, leverage, and quantities traded. It provides a simple, quick, and economical method for calculating trading expenses. Forex Margin Calculator and a Forex Pip Calculator are included in this calculator.

PaxForex Research and Education Summary

ResourcesPaxForex
Market Analysis
Guides
Videosx
Webinarsx
Autochartistx
Trading Centralx
Economic Calendar
Other
PaxForex Resources

PaxForex Review

Deposit and Withdrawal

PaxForex offers many payment options for deposit and withdrawal, such as bank wire transfers, debit/credit cards, and popular electronic wallets. The broker is one of a few that currently offer cryptocurrency as a payment method.

PaxForex Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptos
PaxForex Funding Options

PaxForex Review

Regulation and Safety

PaxForex operates from St. Vincent and the Grenadines, where its parent company Laino Group Ltd is registered. The broker is not yet authorised or regulated by any known government regulatory body. Regulatory agencies safeguard traders by instituting programmes such as reimbursement plans that return the client’s money if the broker goes insolvent. Brokerage businesses must follow a number of regulations and criteria for licence approval, which are set by a recognised international organisation in order to guarantee secure trading and remain licenced. The goal of regulation is to safeguard PaxForex traders and to offer a secure trading environment.

PaxForex Regulation Summary

RegulatorPaxForex
ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
FCA (UK)x
CFTC (USA)x
Otherx
PaxForex Regulators

PaxForex Safety

According to the broker’s website, investors’ monies are reportedly housed in segregated accounts labelled ‘customers accounts.’ They claim that these funds are held in top-tier European banks. Client funds that have been segregated cannot be utilised for other business objectives such as operating expenses. The PaxForex trading and transaction environment is secured by a Secured Socket Layer (SSL), which is the industry standard for discouraging online fraudsters and protecting user transactions on the website and platforms.

PaxForex Review

Client Support

PaxForex offers 24/5 customer support via live chat, email, and phone. They also offer a get a call back service.

PaxForex Review

Conclusion

PaxForex is an online broker that provides competitive trading conditions for trading various assets such as Forex and Stock CFDs online. The usage of the user-friendly MT4 platform, as well as the variety of account kinds, demonstrate that PaxForex brokerage services are intended for all types and levels of online traders. The account signup procedure is quick and simple. There are many payment methods available, including cryptocurrencies such as Bitcoin and Ethereum. Demo accounts are limitless, free, and may be readily made in the traders’ cabinet area with a few clicks.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

PaxForex Review

FAQs

When was PaxForex founded?

PaxForex was founded in 2018.

Where is PaxForex located?

PaxForex is located in St. Vincent and the Grenadines.

Is PaxForex regulated?

Any known government regulatory body does not regulate PaxForex.

What trading instruments does PaxForex offer?

PaxForex offers forex, CFDs, stocks, commodities, and indices to trade.

What is the PaxForex minimum deposit?

PaxForex requires a minimum deposit of $10 to start trading.

What investing platforms does PaxForex offer?

PaxForex offers a web trading platform, MT4, and MT4 Multiterminal.

What is the PaxForex commission fee?

PaxForex charges zero commissions on trading.

Does PaxForex charge an inactivity fee?

PaxForex does not charge an inactivity fee.

What are the PaxForex spreads?

PaxForex offers variable spreads starting from 0.4 pip.

What funding options does PaxForex offer?

PaxForex offers various payment methods such as wire transfers, debit/credit cards, and popular electronic wallets.

Does PaxForex offer demo trading?

Yes, PaxForex offers demo accounts.

Does PaxForex offer Islamic accounts?

Yes, PaxForex offers swap-free Islamic accounts.

How do I contact PaxForex customer support?

PaxForex offers customer support 24/5 via email, phone, and live chat. You can also request a call back.

Does PaxForex offer any rebates?

PaxForex offers rebates under the “rebate program.”
PaxForex Review
PaxForex Review
Minimum Deposit: $10
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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