PaxForex Rated 2/5

PaxForex Guide - Read our In Depth 2021 PaxForex Review

This PaxForex review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, .

Benefits of Trading with PaxForex

PaxForex Review 2021 Quick Summary
💰 Min Deposit 10
👱‍♂️ Used By 350 PaxForex users and traders
📆 Founded 2010
🌍 HQ Saint Vincent and the Grenadines
👮‍♂️ Regulation Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825
🚫 Excluded Countries PaxForex is not available in the following countries :

Open PaxForex's Website

Your capital is at risk


learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is PaxForex?

PaxForex are a global online financial trading platform and multi asset broker founded in 2010

Over 11 years later PaxForex has grown to offering retail investors Forex trading, CFD trading, and trading.

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

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

We will dive deep in this PaxForex review and assess how well the PaxForex platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like PaxForex can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of PaxForex we breakdown the pros and cons. What PaxForex are able to offer, what countries PaxForex are available in. Who PaxForex are regulated by and more.

PaxForex Review Screenshot

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.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this PaxForex review useful.

This review of the PaxForex platform is very detailed. If you are interested in trading with PaxForex in any capacity please take the time to read and research the whole PaxForex review.

We have tried to explain the ins and outs of financial trading through the PaxForex platform as plainly as possible so that you the trader are as informed as possible before you start to use the PaxForex trading tools and depositing and withdrawing funds from PaxForex.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with PaxForex like Forex trading, CFD trading, and trading. You should have confidence in PaxForex and know that the management of your financial investments on the PaxForex platform are in good hands.

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

With this PaxForex 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 review
PaxForex is a Multi-Assets Trading Platform with over 188+ Assets

Learn more about PaxForex. PaxForex is a multi asset platform with 188+ tradable Assets. Assets available on PaxForex include Forex trading, CFD trading, .

PaxForex trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, CFD trading, are considered financial assets.

Features of PaxForex

PaxForex review
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 11 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.

Your capital is at risk

Is my money safe with PaxForex?

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.

What are Tier 1 banks and why should PaxForex use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in PaxForex deposited in a Tier 1 bank?

Having any money you deposit with PaxForex means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if PaxForex goes out of business for some reason.

Therefore, we can safely conclude that PaxForex is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, CFD trading, is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. PaxForex also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regarding PaxForex. let us look at the PaxForex features in more detail.

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.

How PaxForex as a Company Compare Against Other Brokers

Broker paxforex eToro XTB IC Markets
Year Established 2010 2007 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), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) 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, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 350+ PaxForex users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss Yes No No No
Learn More Visit PaxForex Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

PaxForex review
PaxForex Pros and Cons

What we like about PaxForex

  • Used by over 350 PaxForex users and 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 review
PaxForex Regulation and Licensing 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 for license approval, this is 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. Financial regulation and license approval is essential.

PaxForex is regulated, 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.

Is PaxForex Global?

Yes, PaxForex is global as PaxForex is available in over 194 countries.

PaxForex is a global trading platform in the sense that it operates in 194 countries including nations in Europe, Asia, Oceania, and Africa. Major countries PaxForex covers include the UK, Germany, Australia, South Africa, Thailand the United States and China. PaxForex has a total of more than 350 users.

PaxForex review
PaxForex Awards

PaxForex have won numerious industry awards over the 11 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 review
PaxForex Fees Explained

  • PaxForex withdrawal fees varies on payment method
  • PaxForex does not charge a fee for inactive accounts.
  • PaxForex does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How PaxForex Fees Compare Against Other Brokers

Broker paxforex eToro XTB IC Markets
Min Deposit 10 50 0 200
Withdrawal Fees 10 Yes varies No
Inactivity Fees No Yes Yes No
Deposit Fees No for deposits over $300 No No Varies
CFD Commission Fees No Yes Yes Yes

PaxForex Minimum Deposit

PaxForex require a minimum desposit of 10 GBP/USD/EUR when opening an PaxForex trading account.

A minimum deposit is the minimum amount of money required by PaxForex to open a new online brokerage account with them.

Dont be scared off by brokers like PaxForex charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

PaxForex Withdrawal Fees

PaxForex withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

PaxForex for example allow you to withdraw your funds to Credit cards, Debit cards, Bank Transfer, Neteller, Skrill, Perfect Money, WebMoney, QIWI, FasaPay, Bitcoin, Ethereum.

PaxForex Inactivity Fees

PaxForex does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

PaxForex Desposit Fees

PaxForex does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

PaxForex Commission Fees

PaxForex does not charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

PaxForex review
What can you trade with PaxForex?

Be aware that different entities under the PaxForex Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client. Additionally, the trading instruments offered by PaxForex may vary depending on the trading platform you choose to trade with.

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

If you are looking for Forex brokers to trade currency pairs on global Forex markets PaxForex offer over 62 currency pairs.

Compare PaxForex with eToro and XTB below.

Your capital is at risk

How PaxForex Trading Options Compare Against Other Brokers

Broker paxforex eToro XTB IC Markets
Instruments Available 188 2000 4000 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        
Forex pairs offered 62 50 57 65
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) Yes Yes Yes Yes
Commodity CFDs        
Commodities Offered 40 31 21 19
Metals Yes Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 42 2042 1696 110
UK Shares No Yes Yes Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit PaxForex
Your capital is at risk
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

PaxForex review
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.

A 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

Is the PaxForex Trading Platform Secure?

PaxForex safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. PaxForex also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating PaxForex.

PaxForex Trading Platform Options

PaxForex does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

PaxForex offer an their own custom trading platform developed and tested in house. The PaxForex trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The PaxForex platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With PaxForex you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the PaxForex platform including news and quotes. Discover possible trades with the strong charting tools found with PaxForex. PaxForex is available as downloadable applications or online through the cloud. Monitor your orders with PaxForex and receive breaking news in your positions.

PaxForex Trading benefits

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

PaxForex Trading Accounts Offered

Below we give an overview on the account types that PaxForex offer. Whatever you are looking to trade the varying PaxForex account types will be able to provide you with what you need.

  • 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

Your capital is at risk

PaxForex withdrawal and funding methods

Please note that the list of PaxForex payment methods below depend on the PaxForex Entity and the Clients Country of Residence.

All available PaxForex payment methods available to you can be found in your PaxForex members area checked on the PaxForex website.

PaxForex offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about PaxForex

PaxForex Payment Methods

  • PaxForex accepts Credit cards
  • PaxForex accepts Debit cards
  • PaxForex accepts Bank Transfer
  • PaxForex accepts Neteller
  • PaxForex accepts Skrill
  • PaxForex accepts Perfect Money
  • PaxForex accepts WebMoney
  • PaxForex accepts QIWI
  • PaxForex accepts FasaPay
  • PaxForex accepts Bitcoin
  • PaxForex accepts Ethereum
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 No
Neteller Yes Yes Yes Yes

*please note available PaxForex and other broker payment methods depend on the clients country of residence.

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. You will need to provide some basic documentation to prove your identity as part of PaxForex onboarding and normal KYC identity checks. These checks are standard practice and help PaxForex provide a safe financial environment for their 350 users.

Your capital is at risk

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.

CFD Trading on PaxForex

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

PaxForex offer CFD which 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 CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk

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. If your broker is regulated by the FCA Negative Balance Protection should be set in place by your broker as standard. 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. Make sure you make full use of all education tools. This includes eduction tools with PaxForex and externally.

PaxForex offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing 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

As part of our PaxForex review we review customer service options, response times and PaxForex trading platform problem resolution effectiveness.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, 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 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 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:

Be aware that the expiration date of Proof of address document for different entities under PaxForex Brand may be different.

  • 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 5 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 the PaxForex trading platform 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 October 21, 2021.

Watch this PaxForex Explainer Video

Is PaxForex A Good Broker?

We spent over 3 months examining PaxForex in depth. Although we found some very useful aspects of the PaxForex platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative PaxForex broker.

  • PaxForex have a good track record of offering Forex trading, CFD trading, .
  • PaxForex has a history of over 11 years.
  • PaxForex has a reasonable sized customer support of at least 10.
  • PaxForex are regulated by the 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 Tier 1 reputable regulators.
  • 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 Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

PaxForex not quite right?

If after reading this PaxForex review, PaxForex does not fulfill your needs check out these PaxForex Alternatives.

Click here to view the best 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 Vs Comparisons

We have covered allot in this PaxForex review, If you want to see how PaxForex compares side by side with other brokers check out our PaxForex Vs pages.

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 our indepth PaxForex VS pages below.

PaxForex review
PAXFOREX Frequently Asked Questions

Read our detailed PaxForex FAQ Section updated for 2021.

Can I try PaxForex before I buy?

PaxForex offer a demo account so you can try the PaxForex platform with virtual trading before you put down a payment. Virtual trading with PaxForex is zero risk. Learn more here

What funding methods do PaxForex accept?

Please note that the list of payment methods below depend on the PaxForex Entity and the Clients Country of Residence.

PaxForex offer the following funding payment methods Credit cards, Debit cards, Bank Transfer, Neteller, Skrill, Perfect Money, WebMoney, QIWI, FasaPay, Bitcoin, Ethereum, 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.

Your capital is at risk

Is PaxForex trading good?

PaxForex is considered good and reputable to trade with PaxForex. PaxForex is used by over 350 traders and PaxForex users. PaxForex offers Forex trading, CFD trading, and trading. Minimum deposit with PaxForex is 10.

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 11 years. PaxForex offers clients Forex trading, CFD 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, CFD 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 by 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 depending on the method but averages 2-5 days.

Is PaxForex regulated?

PaxForex is regulated by the Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. Regulatory bodies conduct regular reviews and audits as part of PaxForex maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

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 the 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 11 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 PaxForex users.

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 PaxForex users and 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 an Islamic account.

What are the funding methods for PaxForex?

Please note that funding methods and funding options available with PaxForex can be found in the PaxForex Members area and depend on the PaxForex client’s country of residence. Please check your specific available payment methods on the PaxForex website. PaxForex accept the following funding methods : Credit cards, Debit cards, Bank Transfer, Neteller, Skrill, Perfect Money, WebMoney, QIWI, FasaPay, Bitcoin, Ethereum.

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