PaxForex Guide – Read our In-Depth PaxForex Review
This PaxForex review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this PaxForex review does not apply to US users.
If you're a new entrant in the realm of trading and brokerage, so many facts will be confusing for you. Getting into the area of trading requires expert assessing skills and comprehensive knowledge. You will get proficient at all the concepts of brokerage since you continue trading. For starters, you have to choose the ideal agent who will be transparent with you always.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment plan will generate hefty returns. PaxForex is just one such stage which will take you along with your investment to great heights. It's important to know about PaxForex before you trust them with your cash.
Our full PaxForex Review covers everything you will need to know about trading using PaxForex. A good broker can multiply your initial investments and provide you positive profits. If you would like to earn profits, you must trade with a broker service that aligns with your investment goals.
There is no sure-fire way to guarantee profits; therefore, you must carefully assess your broker before you select them. It's a frequent misconception that all agents are the same, but that is not true. Wrong judgment, in the beginning, can put your investments at risk.
PaxForex is a broker which has forged its way successfully into the broker world. In this review, we've attempted to collate a number of the vital facets of PaxForex. This review can allow you to understand whether PaxForex is a fantastic match for your own investments or not. We've tried to breakdown all the qualities and fees for your convenience.
PaxForex Review, Table Of Contents
- Who are PaxForex?
- Benefits Of Trading With PaxForex
- Everything you should know about trading with PaxForex
- Is PaxForex Safe To Trade With?
- Pro's & Con's Of Trading With PaxForex?
- Compare Brokers Similar To PaxForex
- Regulation And Licencing In More Detail
- PaxForex Awards
- Minimum Deposit Required For A Live Account With PaxForex
- PaxForex Commission And Fees Explained
- Compare broker fees against PaxForex
- PaxForex Withdrawal Fees Explained
- PaxForex Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With PaxForex?
- Alternatives To PaxForex
- Frequently Asked Questions About PaxForex
Who are PaxForex?
PaxForex is a foreign exchange broker headquartered in Saint Vincent and the Grenadines and provides a range of instruments for online trading. Since its establishment in 2010, PaxForex has emerged as a top-tier player in the industry of online brokerage. PaxForex has a highly competitive and full-featured trading website that's focused on forex, indices, metals, stocks and commodities.
Over the past 11 years, PaxForex has grown into one of the leading online brokers.
After launching in 2010, their customer base has become as big as 350+ clients.
PaxForex is the favorite for many dealers because of its negative balance protection. Our PaxForex review found that they're an superb alternative for automated trading options. It's best suited for investors that are searching for an assortment of assets. Social and automated trading solutions are the core at PaxForex.
Technology plays a significant role at PaxForex. PaxForex features trading on Web,iPad,mac,Desktop,iPhoneiOS. PaxForex is fair, transparent, and a well-regulated agent by the Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The educational section at PaxForex is very insightful for new dealers as it allows them to get a closer look at the financial markets. PaxForex caters to all types of traders and are a must-have broker for any well-diversified method of trading.
If you feel that PaxForex is not right for you then at the bottom of this PaxForex review you wil find a lot of alternatives to PaxForex.
Everything you ought to know about trading with PaxForex
PaxForex is a dynamic platform that provides various procedures of trading online. These tools cover the financial markets substantially. The Majority of the brokerage platforms provide fewer procedures than PaxForex
If you would like to exchange with PaxForex, you will require a minimum deposit of $10. This deposit is required if you wish to begin trading using PaxForex. This 2021 PaxForex review will guide you easily about trading with them.
PaxForex is as flexible as another brokerage platform. PaxForex is ideal for traders that want a manageable array of low-cost services. The programs supplied by PaxForex are third party, white-label offerings. All traders can select from Web,iPad,mac,Desktop,iPhoneiOS.
Along with everything, PaxForex has multiple benefits to new and verteran traders and should be investigated. There's no minimum time over which a trade has to be kept available. The brokers offer premium customer service that rewards clients with benefits.
Many less reputable brokers attempt to pressurise customers into bigger funding for premium services. PaxForex, on the other hand, is much more focused on trading volume. Traders can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the more advantages will come along.
PaxForex accounts are available around the world and provides excellent service everywhere they have clients. There are some select few countries where PaxForex accounts are not available. Traders in the following countries cannot open or use a PaxForex account:
Is PaxForex Safe To Trade With?
Launched in 2010, PaxForex has been open for 11 years, they have a head office in Saint Vincent and the Grenadines.
PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. These bodies have rules that ensure that trading platforms have ploicies in place to keep investor's resources secured. This means that PaxForex users do not need to worry about their money since it is segregated and safely kept in banks that are established. SSL encryption simplifies each user's personal information as well.
You are able to make use of a choice for 2 Factor Authentications (2FA) with PaxForex for heightened security. An SMS with the verification code will be sent to a mobile phone. You'll be asked to input this code to log into your account.
Another concern with fiscal brokers is in respect to security might be manipulation of trading. This is highly disadvantageous for consumers on those platforms. Nonetheless, this is more prevalent in the example of Market Maker brokers who compete with customers on the platform.
Pro's & Con's Of Trading With PaxForex
Every online trading platform will have some ups and downs, and no PaxForex review would be complete without having a balanced approach. This PaxForex review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- PaxForex is trusted by 350+ clients
- PaxForex offers Negative Balance Protection
- PaxForex offers Guaranteed Stop Loss
- PaxForex doesn't charge withdrawal fees
- PaxForex doesn't charge inactivity fees
- PaxForex doesn't charge deposit fees
- PaxForex doesn't charge CFD fees
- PaxForex offer trading on Web,iPad,mac,Desktop,iPhoneiOS
- PaxForex offer 188 trading instruments
- PaxForex trades major forex pairs
- PaxForex trades minor forex pairs
- PaxForex trades exotic forex pairs
- PaxForex offers trading on cryptocurrencies
- PaxForex can communicate in English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian
PaxForex Review - Compare Brokers Similar To PaxForex
|PaxForex||Corner Trader||ATFX||IKON Finance|
|Headquarters||Saint Vincent and the Grenadines||Switzerland||Cyprus||London|
|Regulated By||Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825||Unregulated||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA)|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Your capital is at risk||Losses can exceed deposits|
PaxForex Review - Regulation And Licencing In More Detail
PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.
PaxForex, as a company, has a powerful set of rules for ensuring fair trading on its own platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, client information is to not be shared with some other institutions or individuals. This includes credit history and other financial details.
PaxForex Review - Awards
- At the time of writing this PaxForex review, they had not received any awards.
PaxForex Review - Minimum Deposit Required
The minimum deposit that you need to begin on PaxForex is $10. This is a decent amount for people just starting out. It's possible to create more advanced deposits as you go along. But, make certain you know how to make the most of your money before investing in larger amounts.
PaxForex Review - Commission And Fees Explained
PaxForex is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online brokerages are scaled much better. In other words, an online broker is not necessarily influenced by the number of customers they have.
But this doesn't mean that online brokers do not charge any fees. They charge fees of varying rates for various services to earn money. There are primarily three types of penalties for this purpose.
The first kind of fees to look out for are trading fees. Whenever you make an actual trade, like purchasing a stock or an ETF, you are charged trading fees. In such instances, you're paying a spread, funding speed, or even a commission. The sorts of trading charges and the prices differ from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the other hand, a spread refers to the difference between the buying and selling price. Financing or overnight rates are people that are billed when you maintain a leveraged position for more than a day.
Apart from trading fees, online brokers also bill non-trading fees. These are determined by the actions you undertake on your account. They're charged for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, PaxForex does not charge high fees compared to other online agents. For operations other agents charge for, they do not charge a broker fee, or they charge a lesser sum. This is beneficial for people who regularly trade, such as daily or weekly trading.
But, non-trading fees billed by PaxForex are relatively lower. Consequently, you're billed more for non-trading actions in your trading account, like deposits and withdrawal. These are not about the purchase and sale of resources.
This PaxForex review breaks down every one of the relevant non-trading charges for you in detail.
Compare broker fees against PaxForex
|PaxForex||Corner Trader||ATFX||IKON Finance|
|Deposit Fees||No for deposits over $300||0||No|
PaxForex Review - Withdrawal Fees ExplainedPaxForex doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from your PaxForex account. You can withdraw sums up to the amount of your account balance, keeping aside the margin used. One thing to remember is that you don't necessarily have to have any cash on your account.
In addition, the withdrawn money will be moved directly to the accounts you use to make deposits. Thus, in the event that you used a credit card for deposits, the withdrawn money is going to be sent to the card. PaxForex will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the money you are opting to draw in.
PaxForex Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your mind while open an account with PaxForex. An inactivity fee is an amount charged to registered dealers that have not engaged in purchasing or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee differs from one broker to another and is not standardized. If a traders account does not have a buying or selling trade, it's maintained by the broker as an inactivity charge. The traders need to pay this commission under conditions and terms that they had agreed while registering.
PaxForex doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no fees are implied by PaxForex, it's better for you to close the account if you're inactive. Inactivity fees aren't only charged by broker firms but also many financial services.
For additional trading platforms, the inactivity fee is contingent upon the type of account you've chosen. The inactivity fee is exposed to a lot of circumstances and should be revealed clearly by the broker beforehand.
PaxForex Review - Deposit Fees Explained
When you move money into your trading account from the bank account, a deposit fee can be charged by the broker. Most brokers do not charge an excessive amount of money for this particular operation.
PaxForex doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the PaxForex trading platform is easy. You simply have to finish a single-user profile survey to begin depositing money into your trading account. You will have to provide an identity evidence and proof of residency to deposit large amounts.
PaxForex Review - Compare Broker Deposit Methods
|PaxForex||Corner Trader||ATFX||IKON Finance|
What Can You trade With PaxForex?
Note: PaxForex provides a lot of different trading instruments due to regulatory restrictions in many countries. Trading instruments offered will be different based on the country of residence of the client.
PaxForex has a wide variety of over 188 instruments available for you to trade with.
If trading forex pairs is of interest to you then PaxForex offer over 62 currency pairs.
Compare PaxForex, Corner Trader, ATFX & IKON Finance below.
Alternatives To PaxForex
If, after reading this PaxForex review, PaxForex does not quite meet your needs check out these PaxForex alternatives.
We have scoured the internet to find the best alternatives to PaxForex. Click the hyperlinks below to learn more.
Frequently Asked Questions about PaxForex
Can I try PaxForex before I buy?
Yes, you can most definitely try PaxForex before you buy. PaxForex offers demo accounts for the ease of new traders. You can use this feature to build your faith in the machine and yourself and your trading strategies.
If you sign up to get a demonstration account on PaxForex, you will set out with a decent amount of virtual money. It's to establish a feeling of safety and confidence in you until you choose to invest your own money.
With this virtual PaxForexdemo account, you are able to experiment at all, to whatever length you wish. You might even open positions, examine different trading strategies, and much more.
PaxForex specifies on its official site which you can trade real time stocks in a demo account.
Is PaxForex safe?
It is possible to drop all your worries because we believe that PaxForex is totally safe to use. It is in compliance with all the rules of Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.
Fortunately, PaxForex provides assured stop-loss protection.
Why does PaxForex ask for my passport?
The reason that PaxForex asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, PaxForex has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, PaxForex must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with PaxForex?
The process to start trading withPaxForex is perhaps simple enough to be a cakewalk. You need to begin by signing up on the PaxForex website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with PaxForex is $10. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with PaxForex.
The best way to kickstart your trading career with PaxForex is to open a demo account facility before risking any real money
What funding methods do PaxForex accept?
There are multiple ways to fund your account with PaxForex. The process is effortless and quick, with various payment methods in your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing money. You have to keep in mind that PayPal is not available in all country. The currencies PaxForex
Is my money safe with PaxForex?
Yes, your money is safe and secure with PaxForex. As you know, PaxForex operates with proper conformation to. It has established lots of measures to protect all of its investors.
PaxForex protects its clients' private and sensitive data under SSL encryption. Your funds will be retained highly secure in top-tier banks.
If you wish to further safeguard your accounts, you can empower Two-Step Verification also. It requires an SMS affirmation that you access your account.
Is PaxForex trading good?
Yes, trading via PaxForex is a pleasant and good experience indeed. It is a great and intuitive platform with useful features for your simplicity. In addition, you can also obtain access to a huge collection of educational tools and assistive substance to kickstart your trading expertise.
If you remain skeptical, you can start a eToro demo account and assess the credibility of the platform on your own.
Which Countries does PaxForex support?
PaxForex operates across the globe. However, due to regulations there are some countries that PaxForex do accept clients resident in
Is PaxForex legit?
PaxForex is a legit company headquarted in Saint Vincent and the Grenadines since 2010. They are regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825. PaxForex is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is PaxForex a good broker?
PaxForex is a great agent, and its own users may vouch for it. The highlight of the platform is its fast order execution on transactions.
You'll discover the clean design of the platform and the commendable features a pleasure to work with.
Is PaxForex a trustworthy broker?
Yes, PaxForex is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 350+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for PaxForex?
The minimum deposit to open a live account with PaxForex is $10
How long do PaxForex withdrawals take?
Normally, withdrawal of money from PaxForex is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from PaxForex to show in your bank account.
Are PaxForex regulated?
PaxForex are regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825
Is PaxForex a market leading broker?
PaxForex is currently one of the business leaders. It supports over 350+ registered customers and over 11 years of experience on its own record. They're among the world's top trading platforms and also a prominent figure in the Fintech revolution.
It majorly owes this status to its incredible platform and broad selection of tools plus resources so you may invest in capital markets.
Is PaxForex a con?
No, PaxForex is not a con. They are regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 and must adhere to their rules. Thus, it is safe to say that PaxForex is not a scam.
Can you make money with PaxForex?
Using PaxForex, many traders make a lot of money. However, typically, through consistent trading, you can create between 2% - 10% profit a month.
This can look like a small number, but over the entire year, this adds to a substantial amount of gains. Even though PaxForex provide you all the tools to make money, they cannot guarantee that you will gain.
Does PaxForex have fees?
Yes. To begin trading using PaxForex, you have to deposit $10. Certain commissions while trading additionally applies. Any processing fees from your bank might need to be incurred by you.
When was PaxForex founded?
PaxForex was founded in 2010 in Saint Vincent and the Grenadines. PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.
How many people use PaxForex?
PaxForex is a worldwide recognised broker with 350+ customers.
Where is the PaxForex head office?
PaxForex has its head office in Saint Vincent and the Grenadines
Does PaxForex offer negative balance protection?
Yes, PaxForex has Negative Balance Protection. It's especially offered when the market volatility keeps customers from allowing their account go in the red. In such a scenario, PaxForex provides the ability to reset a customers account balance to zero.
You should go through the critical terms and conditions on PaxForex's site to understand their policies.
Does PaxForex offer guaranteed stop loss?
Yes, PaxForex offer a guaranteed Stop Loss order.
If there's absolutely no free margin left together with the client, PaxForex will cease your own positions. If the losses in the stopped out location exceeds your account balance, you may encounter a negative account balance.
Does PaxForex allow scalping?Yes, PaxForex do permit scalping. Several traders across the world select PaxForex due to their services that are trading. They offer trading on Web,iPad,mac,Desktop,iPhoneiOS which let this.
Does PaxForex allow hedging?
Yes, PaxForex does allow hedging.
Can you trade energies with PaxForex?
No, unfortunately you cannot trade energy stock with PaxForex
Can you trade agricultural shares with PaxForex?
No, unfortunately you cannot trade agricultural stock with PaxForex
Can you trade cryptocurrency with PaxForex?
Yes, you can trade cryptocurrency with PaxForex
Can you trade metals with PaxForex?
Yes, you can trade metals with PaxForex
Can you trade UK Shares with PaxForex?
No, unfortunately you cannot trade UK shares with PaxForex
Can you trade US Shares with PaxForex?
Yes, you can trade US shares with PaxForex
Can you trade Japanese Shares with PaxForex?
No, unfortunately you cannot trade Japanese shares with PaxForex
Can you trade German Shares with PaxForex?
No, unfortunately you cannot trade German shares with PaxForex
Does PaxForex accept bank transfers?
Yes, PaxForex accepts bank transfers for depositing money.
Does PaxForex accept credit cards?
Yes, PaxForex accepts credit cards for depositing money.
Does PaxForex accept PayPal?
No, PaxForex does not accept PayPal.
Does PaxForex accept Skrill?
Yes, PaxForex accepts Skrill for depositing money.
Does PaxForex accept Payoneer?
No, PaxForex does not accept Payoneer.
Does PaxForex accept Neteller?
Yes, PaxForex accepts Neteller for depositing money.
Does PaxForex offer Live Chat customer support?
Yes, PaxForex offers customer support through live chat.
Does PaxForex offer phone customer support?
Yes, PaxForex offers customer support over the telephone.
Does PaxForex offer email customer support?
Yes, PaxForex offers customer support through email.
What languages can PaxForex communicate in?
PaxForex has the ability to communicate and support customers who speak: English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian
Does PaxForex have a wikipedia page?
No, PaxForex does not have an official wikipedia page.
Does PaxForex offer demo accounts?
Yes, PaxForex offers demo accounts so you can learn their systems before risking any real money.