PaxForex Review 2020

PaxForex Rated 4/5

PaxForex Guide

PaxForex are an online broker founded in 2010 offering Forex trading trading, CFD trading trading, and trading.

PaxForex are a global broker and have a head office in Saint Vincent and the Grenadines.

PaxForex have a listed stock symbol. This means that PaxForex have publically listed and you can officially buy shares in PaxForex on one of the worlds global market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of PaxForex we break down the pros and cons. What PaxForex are able to offer, what countries PaxForex are available in. Who PaxForex are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with PaxForex

  • Regulated by: Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825
  • Headquarters Country : Saint Vincent and the Grenadines
  • Foundation year 2010
  • Min Deposit : 10
  • Used by over 350 traders
  • PaxForex is not available in the following countries :
Open PaxForex's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to PaxForex

With this review we hope to help you see if PaxForex is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding PaxForex that will help you get off to a good start in the world of online trading.

PaxForex Review Table of Contents

PaxForex what you should know

PaxForex offer three ways to trade: Forex trading, CFD trading, .

With PaxForex you will need a minimum deposit of $10. You can sign up for a demo account to acquaint yourself with PaxForex platform.

PaxForex are able to accommodate various levels of traders whether you are experienced or a beginner.


Are PaxForex safe?

When choosing a broker like PaxForex the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2010, and in operation for 10 years PaxForex have a head office in Saint Vincent and the Grenadines.

PaxForex is regulated. This means PaxForex are supervised by and is checked for conduct by the Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to PaxForex, this will be honored. If PaxForex violate any regulatory rules their regulated status could be stripped.

Any payments funded to PaxForex accounts by traders are held in a segregated bank account.

For added security PaxForex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with PaxForex. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit PaxForex

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker paxforex eToro XTB IC Markets
Year Established 2010 2006 2002 2007
Head Office Saint Vincent and the Grenadines Cyprus, UK Poland Australia
Regulation Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 350+ 12,000,000+ 250,000+ 60,000+
Negative balance protection Yes No Yes Yes
Guaranteed Stop Loss Yes No Yes No
Learn More Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk Losses can exceed deposits

PaxForex Pros and Cons

What we like about PaxForex

  • Used by over 350 traders
  • Established in 2010
  • Regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825
  • Min. deposit from $10

What we don't like about PaxForex

PaxForex Financial Regulation and Supervision in more detail

We have checked and PaxForex is regulated and supervised by reputable organisations. You are able to check every PaxForex supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with PaxForex. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect PaxForex traders and provide a safe trading environment.

PaxForex is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as PaxForex you should be sure they're legitimate online agent.

PaxForex Awards

PaxForex have won numerious industry awards over the 10 years they have been operating as a financial broker. We list the most notible awards and mentions for PaxForex below.

  • Award winning trading platform and mobile apps

PaxForex General Fees

  • PaxForex withdrawal fees varies on payment method
  • PaxForex doesn't charge inactivity fees
  • PaxForex does charge deposit fees
Broker paxforex eToro XTB IC Markets
Min Deposit 10 200 0 200
Withdrawl Fees 10 Yes varies No
Inactivity Fees No Yes No No
Deposit Fees No for deposits over $300 No No Varies
CFD Commission Fees No No Yes Yes

PaxForex Commissions

  • PaxForex doesn't charge commission on CFD instruments.

What can you trade with PaxForex?

You can trade a wide variety of instruments with PaxForex over 188 instruments infact.

If you are looking at trading currency pairs PaxForex offer over 62 currency pairs.

Compare PaxForex with eToro and XTB below.

Your capital is at risk

Broker paxforex eToro XTB IC Markets
Instruments Available 188 100 1,500 232
Platforms Web,iPad,mac,Desktop,iPhoneiOS Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Forex pairs offered 62 50 50 65
Major forex pairs Yes Yes Yes Yes
Minor forex pairs Yes Yes Yes Yes
Exotic forex pairs Yes Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Commodities Offered 40 0 21 19
Metals Yes Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Stocks Offered 42 957 1696 100
UK Shares No Yes Yes No
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on PaxForex web platforms and other applications

PaxForex offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An PaxForex IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

PaxForex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See paxforex's platforms

PaxForex Trading benefits :

  • Allows scalping
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

PaxForex Trading Accounts Offered :

  • Demo account
  • Cent (Micro trading)
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

Can I try PaxForex before I buy?

PaxForex offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

PaxForex withdrawl and funding methods.

PaxForex offer the below funding payment methods. learn more about PaxForex

  • Credit cards
  • Bank Transfer
  • Skrill
  • Neteller
Broker paxforex eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes Yes
Neteller Yes Yes Yes Yes

How can I start trading with PaxForex?

When opening a trading account with PaxForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on PaxForex trading platforms here.

Performing trades with PaxForex

PaxForex allow you to execute a minimum of trade of varies. This may vary depending on the account you open. PaxForex allow you to execute a maxium trade of varies. As PaxForex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

PaxForex Leverage and PaxForex CFDs Explained

let's take a look at some of the basics of using PaxForex leverage.

PaxForex offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

PaxForex leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the PaxForex trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The PaxForex leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

PaxForex CFDs are typically used for short to medium term trades. For example PaxForex intraday trading.

Limiting Your Risk When Trading with PaxForex Negative Balance Protection

We should say something about negative balance protection with PaxForex. When trading using leverage an adverse move could result in losing more than your trading account balance at PaxForex. Your PaxForex account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Education resources at PaxForex

To trade effectively with PaxForex, it's important to get a have a good understanding of the PaxForex trading tools and the markets.

PaxForex offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with PaxForex.

Take time to look around the PaxForex platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at PaxForex

PaxForex support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

PaxForex have a A grade support rating because PaxForex offer over three languages.

Livechat Support at PaxForex

We tested the PaxForex live chat and it works well. We sent messages to PaxForex livechat through their app and website and recieved a response within 8 minutes.

We tested communicating with PaxForex support in multiple languages in multiple countries. PaxForex where able to resolve our customer issues.

Email Support at PaxForex

We sent several emails to PaxForex and answer times overall were excellent. The fastest response from PaxForex was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with PaxForex, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from PaxForex.

Phone Support at PaxForex

We called PaxForex and the call was answered very quickly. The call was answered in less than 5 minutes.

The PaxForex phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual PaxForex team by calling in varying languages. PaxForex made an effort to make sure our queries were answered.

Overall the phone support from PaxForex was okay.

See how PaxForex Support Compares Against Other Brokers

Broker paxforex eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk Losses can exceed deposits

What you will need to open an account with PaxForex

As PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore PaxForex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with PaxForex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://paxforex.com/ on 12th August 2018.

Watch this PaxForex Informational Video

Is PaxForex A Good Broker?

We spent over 3 months examining PaxForex in depth. Although PaxForex are not perfect we found many really useful aspects with the overall offering from PaxForex. Our personal experience of trading with PaxForex was very good. Weighing up many points PaxForex is a good broker.

  • PaxForex have a good track record of offering Forex trading, CFD trading, .
  • PaxForex has a history of over 10 years.
  • PaxForex has a reasonable sized customer support of at least 10.
  • PaxForex are regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. This means PaxForex fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • PaxForex have regulation from a Tier 1 reputable country.
  • PaxForex has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • PaxForex have an international presence in multiple countries. This includes local PaxForex seminars and training.
  • PaxForex are able to hire people from various locations in the world who can better communicate in your local language.

PaxForex Risk Disclaimer

Your capital is at risk

PaxForex not quite right?

Check out these PaxForex Alternatives

We have spent years researching the best alternatives to PaxForex. Click the links below to learn more.

If you feel some of the above PaxForex are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of PaxForex alternatives below.

Related PaxForex Comparisons

If you would like to see how PaxForex stands up against other brokers you can read some of our PaxForex comparisons below. We compare side by side some of our top rated PaxForex versus comparisons. Read some indepth PaxForex VS pages below.

PAXFOREX Frequently Asked Questions

Can I try PaxForex before I buy?

PaxForex offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do PaxForex accept?

PaxForex offer the following funding payment methods accept Credit cards, Bank Transfers, Skrill, Neteller, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is PaxForex safe?

PaxForex are considered safe as they are regulated by and checked for conduct by the Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. Any payments funded to PaxForex accounts by traders are held in a segregated bank account. For added security PaxForex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is PaxForex trading good?

PaxForex is considered good and reputable to trade with. PaxForexPaxForex is used by over PaxForex active traders. PaxForex offers Forex trading trading, CFD trading trading, and trading. Minimum deposit with PaxForex is mindeposit.

Is PaxForex trading Legit?

PaxForex was founded in Saint Vincent and the Grenadines in 2010. PaxForex has been facilitating trade on the financial markets for over 10 years. PaxForex offers clients Forex trading trading, CFD trading trading, and trading. All funds deposited to PaxForex are held in segregated tier 1 bank accounts for security. PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 so can be considered legit.

Is PaxForex a good broker?

PaxForex is overseen by the top tier financial regulators Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 so can be considered a good broker.PaxForex allows Forex trading trading, CFD trading trading, and trading.

Is PaxForex trustworthy broker?

PaxForex can be considered trustworthy. All money funded to PaxForex is placed into a segregated tier 1 bank account. this means your money in not held by PaxForex directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.

What is the minimum deposit for PaxForex?

The minimum deposit to trade with PaxForex is 10.

How long do PaxForex withdrawals take?

Withdrawing money from PaxForex processing time varies but averages 2-5 days.

Is PaxForex regulated?

PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.

Is PaxForex a market maker?

PaxForex is a market maker. Stocks, currency and other commodities and instruments will be purchased by PaxForex even if no buyer is lined up.

How can I start trading with PaxForex?

When opening a trading account with PaxForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on PaxForex trading platforms here.

Is my money safe with PaxForex?

PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. One of the most important criteria for traders when choosing a broker like PaxForex is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to PaxForex, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is PaxForex a con?

PaxForex is regulated and well established having been in business for over 10 years. PaxForex is definitely not a con.

Can you make money with PaxForex?

Although traders have had great success with PaxForex. Trading on the financial markets with PaxForex is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does PaxForex have fees?

PaxForex withdrawal fees varies on payment method. PaxForex doesn't charge inactivity fees. PaxForex does charge deposit fees.

When was PaxForex founded?

PaxForex was founded in 2010.

How many people use PaxForex?

PaxForex is used by over 350 registered traders.

What is PaxForex Headquarters country?

PaxForex has its head quarters office in Saint Vincent and the Grenadines.

Does PaxForex offer negative balance protection?

PaxForex offers negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does PaxForex offer guaranteed stop loss?

PaxForex offers guaranteed stop loss protection. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does PaxForex allow scalping?

PaxForex offers scalping.

Does PaxForex allow hedging?

PaxForex does not offer hedging.

Does PaxForex offer CFD trading?

PaxForex offers CFD trading.

Does PaxForex offer STP?

PaxForex offers STP trading.

How many people use PaxForex?

PaxForex is used by over 350 traders.

Is PaxForex an ECN broker?

PaxForex offers ECN trading.

Does PaxForex offer a demo account?

PaxForex offers a demo account.

Does PaxForex offer an Islamic account?

PaxForex offers a Islamic accounts.

What are the funding methods for PaxForex?

PaxForex accept the following funding methods : Credit cards, Skrill, Neteller, Bank Transfer.

PaxForex review written by Andrew Blumer and Mark Hansen

We hope you found our review of the PaxForex brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

PaxForex review written by Mark Hansen of Comparebrokers.co