PaxForex review
PaxForex is a Multi-Assets Trading Platform with over 188+ Assets
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. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, CFD trading, are considered financial assets.
Features of PaxForex
- Virtual Portfolio, or what is commonly known as a Demo Account
- PaxForex offers Advanced Financial Chart comparison tools
- PaxForex offers Research-backed analysis on financial markets and investments from top analysts
- The PaxForex platform is available to use on multiple devices including Apple Mac computers, and online through a Web Browser.
- PaxForex offers a trading platform with tools for both New Traders and Seasoned Experts
- PaxForex users benefit from using the PaxForex platform in over 15 different languages
PaxForex review
What you should know
PaxForex offer three ways to trade: Forex trading, CFD trading, . The assets and products available to you on the PaxForex trading platform depends on the region of the world, you are in and the PaxForex entity you have an account.
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 considering PaxForex for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as PaxForex, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2010, and in operation for 14 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.
PaxForex withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like PaxForex are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. PaxForex are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of PaxForex and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. PaxForex has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, PaxForex will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like PaxForex, you can enjoy peace of mind and focus on your trading activities. If PaxForex violate any regulatory rules their regulated status could be stripped.
Your capital is at risk
Is my money safe with PaxForex?
All payments made to PaxForex by traders are securely held in a segregated bank account.
PaxForex uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should PaxForex use them?
PaxForex partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their PaxForex clients' funds.
PaxForex clients can have greater confidence in their financial security when working with a Tier 1 bank because PaxForex are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in PaxForex deposited in a Tier 1 bank?
Depositing funds with PaxForex ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if PaxForex were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that PaxForex is a secure and safe platform.
Please be aware that trading in financial assets with PaxForex carries a risk of loss. PaxForex trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, CFD trading, due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
PaxForex emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about PaxForex, let's closely examine its features.
To better understand the PaxForex trading platform, you can create two separate accounts - one with real money and the other a PaxForex demo account. A PaxForex demo account provides a risk-free environment for experimenting with the PaxForex platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in PaxForex trading decisions.
Open a demo account Visit PaxForex
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 | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Year Established | 2010 | 2007 | 2009 | 2007 |
Head Office | Saint Vincent and the Grenadines | Australia | Belize | Cyprus, UK |
Regulation | Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 |
Used By | 350+ PaxForex users | 180,000+ IC Markets users | 1,000,000+ Roboforex users | 30,000,000+ eToro users |
Negative balance protection | Yes | Yes | Yes | Yes |
Guaranteed Stop Loss | Yes | No | No | No |
Learn More | Visit PaxForex | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
PaxForex review
PaxForex Pros and Cons
PaxForex review
PaxForex Regulation and Licensing in more detail
PaxForex is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of PaxForex going into insolvency. PaxForex compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like PaxForex to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for PaxForex traders.
- Financial Services Authority (FSA)
- Registration Number 21973 IBC 2014 1825
PaxForex is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like 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 Africa, Asia, Oceania, and Europe. Major countries PaxForex covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. PaxForex has a total of more than 350 users.
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. A currency conversion fee may be applied as withdrawals and deposits from PaxForex are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
PaxForex Costs To Check
Modern brokers like PaxForex provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, PaxForex may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall PaxForex trading profitability.
How PaxForex Fees Compare Against Other Brokers
Broker | paxforex | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Min Deposit | 10 | 200 | 10 | 100 |
Withdrawal Fees | 10 | No | Yes | Yes |
Inactivity Fees | No | No | No | Yes |
Deposit Fees | No for deposits over $300 | Varies | No | No |
CFD Commission Fees | No | Yes | No | Yes |
PaxForex Minimum Deposit
PaxForex requires a minimum deposit 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.
Don't be scared off by brokers like PaxForex charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.
In the trading world, brokers like PaxForex, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
PaxForex Withdrawal Fees
The fees for withdrawing funds from your PaxForex account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your PaxForex withdrawal request is important.
PaxForex Withdrawal rules may vary across different brokers when it comes to transferring funds from your PaxForex or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with PaxForex may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the PaxForex withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from PaxForex. Researching and comparing PaxForex withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing PaxForex funds frequently or dealing with large sums of money. Awareness of these PaxForex fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your PaxForex funds.
For example, PaxForex allows 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.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by PaxForex terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all PaxForex fees and services. It's recommended that you check the PaxForex website before signing up. If you decide to close your PaxForex account, it's important to do so with the PaxForex broker customer support and obtain confirmation that no remaining PaxForex fees are due.
Brokers like PaxForex must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
PaxForex Deposit Fees
PaxForex do charge deposit fees.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
PaxForex Commission Fees
PaxForex does not charge commission on CFD instruments.
Brokerage firms like PaxForex may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the PaxForex trading account level held by the trader.
PaxForex may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing PaxForex terms and conditions to understand the commission fees and any other charges that may apply is essential.
PaxForex review
What can you trade with PaxForex?
It's essential to note that the trading instruments offered under the PaxForex brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the PaxForex trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with PaxForex over 188 instruments in fact.
If you want to trade currency pairs on global Forex markets, PaxForex offer over 62 currency pairs.
PaxForex Compared To Other Brokers
Compare PaxForex with IC Markets and Roboforex below.
How PaxForex Trading Options Compare Against Other Brokers
Broker | paxforex | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Instruments Available | 188 | 2250 | 100 | 5000 |
Platforms | Web,iPad,mac,Desktop,iPhoneiOS | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
FX / Currencies | ||||
Forex pairs offered | 62 | 61 | 35 | 50 |
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 | No | Yes |
Commodity CFDs | ||||
Commodities Offered | 40 | 20 | 21 | 31 |
Metals | Yes | Yes | Yes | Yes |
Energies | No | Yes | No | Yes |
Agricultural | No | Yes | No | Yes |
Indiced & Stock CFDs | ||||
Stocks Offered | 42 | 2100 | 0 | 2042 |
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 IC Markets
Losses can exceed deposits |
Visit Roboforex
Losses can exceed deposits |
Visit eToro
76% of retail investor accounts lose money when trading CFDs with this provider. |
PaxForex review
Trading on PaxForex web platforms and other applications
PaxForex provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do 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 trading apps help you stay on top of your trades and execute them on the go.
See PaxForex's platformsIs the PaxForex Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the PaxForex trading platform to protect you on PC and mobile PaxForex platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using PaxForex web trading platforms.
PaxForex Trading Platform Options
PaxForex does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.
PaxForex offers its custom trading platform developed and tested in-house. The PaxForex trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.
The PaxForex platform allows traders to filter the financial marketplace for trade opportunities that match criteria.
With PaxForex, you can 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
- PaxForex Allows scalping
- PaxForex Offers STP
- PaxForex Low min deposit
- PaxForex Guaranteed stop loss
- PaxForex Offers Negative Balance Protection
PaxForex Trading Accounts Offered
Below we give an overview of 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.
- PaxForex Demo account
- Cent (Micro trading)
- PaxForex Mini account
- PaxForex Standard account
- PaxForex ECN account
- PaxForex STP account
- PaxForex Islamic account
Can I try PaxForex?
PaxForex provides a demo account that enables individuals to explore trading before investing their funds. By creating a PaxForex practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the PaxForex demo account can help individuals to make informed decisions before investing their money.
Open a demo PaxForex account to practice and trade.
Your capital is at risk
PaxForex withdrawal and funding methods
It's essential to remember that the payment methods provided by PaxForex vary based on the PaxForex entity and the PaxForex client's country of residence. To view the PaxForex payment options available, you can log into your PaxForex member's area.
PaxForex offers various funding payment methods listed in your PaxForex dashboard if available in your region. To learn more about the PaxForex funding and withdrawal options available in your area, you can explore the PaxForex website.
PaxForex provides several payment methods for funding your PaxForex account. You may utilize any of these deposit options if they are available in your region. PaxForex ensures that users have multiple payment methods to choose from, making it more convenient for verified PaxForex account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the PaxForex user's location. learn more about PaxForex funding and withdrawal methods.PaxForex Payment Methods
Some PaxForex payment methods are local and are available only to specific regions. PaxForex account holders should check which payment methods are provided in your region.- 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 | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Bank transfer | Yes | Yes | Yes | Yes |
Credit Cards | Yes | Yes | Yes | Yes |
Paypal | No | Yes | No | Yes |
Skrill | Yes | Yes | Yes | Yes |
Payoneer | No | No | 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?
To open a trading account with PaxForex, individuals can sign up on the PaxForex website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for PaxForex account validation and making a deposit. Once completed, PaxForex users can download the trading platform of their choice.
It's important to note that PaxForex requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps PaxForex maintain a trustworthy financial environment for its 350 users. Detailed information on the PaxForex trading platforms is available on their website.
Your capital is at risk
Performing trades with PaxForex
When using PaxForex, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. PaxForex have a max trade of varies. With the ECN and STP execution methods offered by the platform, traders using PaxForex can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.
Like other brokers, PaxForex margin requirements can differ depending on the traded instrument.
CFD Trading on PaxForex
We will show you an example of the basics of using PaxForex leverage.
CFD trading on PaxForex allows traders to speculate on the price movements of various financial instruments against the broker PaxForex, without actually owning real assets. With CFDs, PaxForex traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.
PaxForex provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.
The effect of leverage on profits and losses magnifies them in both directions. In other words, PaxForex leverage profits and losses are magnified when trading. For instance, using CFDs, you use the PaxForex trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.
On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, PaxForex leverage magnifies both profits and losses in trading.
Trading CFD trades on the PaxForex platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
Experienced PaxForex traders can trade high risk CFD trades to hedge items in their portfolio.
Always be aware that CFDs are complex instruments 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
Negative balance protection is important for traders using leverage on platforms like PaxForex. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a PaxForex trading position does not go in your favour, this is where negative balance protection comes in handy.
Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, PaxForex trading losses are always limited to the current balance of funds in the trader's account.
Even if an PaxForex trader experiences a significant loss, they will never owe more money than what is available in their PaxForex account balance.
It's important for PaxForex traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that PaxForex losses are limited to the funds available in your PaxForex account when negative balance protection is in place.
Education Resources at PaxForex
To trade effectively with PaxForex, it's important to have a good understanding of the PaxForex trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with PaxForex and externally.
PaxForex . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with PaxForex. Familiarizing yourself with the PaxForex trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using PaxForex. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with PaxForex involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like PaxForex, and risk management techniques can help you become a more confident and successful trader.
Take an analytical approach to trading with PaxForex. Explore the PaxForex platform and train yourself to think systematically and logically about the markets.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with PaxForex, before live trading.
Customer Support at PaxForex
As part of our PaxForex review, we review customer service options, response times and problem resolution effectiveness on the PaxForex trading platform. The PaxForex trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
PaxForex Available Support Types
PaxForex have grade A support rating because PaxForex offer over three languages.
Livechat Support at PaxForex
Our experience with PaxForex live chat was positive. We tested their live chat feature through their app and website and received a response within 6 minutes, an acceptable response time. The support team was helpful and provided us with the necessary information.
We tested the effectiveness of communicating with PaxForex support in multiple languages and countries. Our customer issues were resolved promptly by the PaxForex support team, proving their ability to efficiently and effectively support customers in diverse locations and languages.
Email Support at PaxForex
After testing, we found that the email support provided by PaxForex was excellent, with a fast response time. We received the fastest response in less than 60 minutes, while the slowest response was in 11 hours. It's important to note that response times may vary based on your experience with PaxForex, but in our case, we sent 25 emails at varying times.
The support team resolved and answered our queries. Overall, we had a good experience with the email support provided by PaxForex.
Phone Support at PaxForex
We contacted PaxForex via phone, and our call was answered within a reasonable timeframe of 7 minutes.
The PaxForex phone support team was able to assist us with our queries and issues. We put their multilingual support to the test by speaking to them in various languages, and they were able to communicate effectively.
Overall, while the phone support experience was satisfactory, there is still room for improvement.
See how PaxForex Support Compares Against Other Brokers
Broker | paxforex | IC Markets | Roboforex | eToro |
---|---|---|---|---|
Support |
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Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, German, Spanish, French, Italian |
Learn More | Visit PaxForex | Visit IC Markets | Visit Roboforex | Visit eToro |
Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
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.
As a new client of PaxForex, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with PaxForex in your region. During the PaxForex account opening process, you will be asked to provide PaxForex with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with PaxForex have the following documents available.
- PaxForex require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for PaxForex compliance. This must be dated within the last six months.
- If you plan to fund your PaxForex account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the PaxForex platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under PaxForex Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring PaxForex's platform.
However, remember that you won't be able to make trades on PaxForex until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the PaxForex KYC compliance process as soon as possible to avoid any delays in accessing the PaxForex platform's features.
It is important to note that PaxForex may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the PaxForex platform and features immediately. However, you must pass the verification process to start live trading with PaxForex, which can take up to a few business days.
To start the process of opening an account with PaxForex you can visit the PaxForex trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://paxforex.com/ on March 16, 2024.
Is PaxForex A Good Broker?
We have spent over 5 years examining PaxForex in depth. Although we found some very useful aspects of the PaxForex platform that would be useful to some traders. We feel that a alternative to PaxForex may better suit you.
- PaxForex have a good track record of offering Forex trading, CFD trading, .
- PaxForex has a history of over 14 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. PaxForex is subject to strict regulatory oversight from its respective jurisdiction, which holds PaxForex (the broker) accountable for misconduct. This regulatory framework helps ensure that PaxForex operates fairly and transparently and provides PaxForex customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and PaxForex.
- PaxForex have regulation from reputable regulators.
- One of the advantages of using PaxForex is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from PaxForex are particularly important as PaxForex traders want to receive their money quickly. With the efficient PaxForex payment processing system, traders can enjoy faster access to their PaxForex funds.
- PaxForex have an international presence in multiple countries. Including local PaxForex seminars and training.
- PaxForex can 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 such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
PaxForex not quite right?
If after reading this PaxForex review, PaxForex does not fulfill your needs check out these PaxForex Alternatives.
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Throughout our comprehensive PaxForex review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing PaxForex against other popular brokers in the industry, check out our PaxForex Vs pages. Our team has compiled a series of detailed PaxForex comparison articles, pitting the PaxForex platform against some of the best-rated PaxForex competitors in the market. Dive into our informative PaxForex Vs pages below to find out how PaxForex stacks up against other leading brokers.
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PaxForex review
PAXFOREX Frequently Asked Questions
Read our detailed PaxForex FAQ Section updated for 2024.
Can I try PaxForex?
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 depends on the PaxForex Entity and the client's 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
Is PaxForex safe?
PaxForex have over 350 users. PaxForex are considered reliable 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 bank's financial health and strength.Trading with PaxForex is risky, and because the market is so volatile, losses could happen at any time. Do not invest with PaxForex unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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 14 years. PaxForex offers clients Forex trading, CFD trading, and trading. All funds deposited to PaxForex are held in segregated 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 allows Forex trading, CFD trading, and trading. 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.
Is PaxForex trustworthy broker?
PaxForex is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to PaxForex, money is in a segregated bank account that is separate from PaxForex company's funds. As a regulated broker, PaxForex cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by PaxForex. Instead, your PaxForex funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with PaxForex. Also PaxForex is regulated in its local jurisdictions including major financial regulators like 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 1-5 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 brought or sold by PaxForex even if no buyer or seller is lined up.
How can I start trading with PaxForex?
When opening a trading account with PaxForex, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on PaxForex trading platforms, you can follow the link provided below: Learn more about signing up with the PaxForex trading platform here. This will provide useful information and insights into the various trading platforms offered by PaxForex, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with PaxForex?
Yes your money is safe with PaxForex.
Overall, strict financial regulation is essential for ensuring that trading platforms like PaxForex operate fairly, transparently, and responsibly, which ultimately benefits all PaxForex stakeholders involved.
Trading platforms like PaxForex must have strict financial regulation for several reasons:
- Protecting PaxForex Investors: Strict financial regulation ensures that investors who use the PaxForex trading platform are protected against fraudulent or unethical behavior by the PaxForex platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the PaxForex platform.
- Maintaining PaxForex Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the PaxForex trading platform. Regulatory procedures reduce the likelihood of the PaxForex platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing PaxForex Transparency: Regulations require trading platforms like PaxForex to maintain detailed records and disclose PaxForex client information. Financial regulatory requirements enhances transparency and helps to build trust between the PaxForex platform and its investors.
PaxForex is regulated by the Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. When selecting a broker such as PaxForex, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, PaxForex ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like PaxForex.
Is PaxForex a con?
PaxForex is regulated and well established, having been in business for over 14 years. PaxForex is 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 vary on payment method.PaxForex doesn't charge inactivity fees. PaxForex do 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, 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, the risk is managed. Traders are guaranteed 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 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.