PaxForex Review 2020

PaxForex Awards

PaxForex have won numerious industry awards over the 8 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	XTB	eToro	Pepperstone
Min Deposit	10	0	200	200
Withdrawl Fees	10	varies	Yes	No
Inactivity Fees	No	No	Yes	Yes
Deposit Fees	No for deposits over $300	No	No	No
CFD Commission Fees	No	Yes	No	Yes

PaxForex Commissions

• PaxForex doesn't charge commission on CFD instruments.

Trading on PaxForex web platforms and other applications

PaxForex offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers 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.

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	XTB	eToro	Pepperstone
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	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 trader, accounts and 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 your account 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 XTB 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	XTB	eToro	Pepperstone
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, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, German, Spanish, French, and Italian	English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More	Visit PaxForex	Visit XTB	Visit eToro	Visit Pepperstone
Risk Warning	Your capital is at risk	Your capital is at risk	65% 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.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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

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

PaxForex review written by Andrew Blumer and Mark Hansen