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5.32/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • $10
Trading platform:
  • MT4
Regulation:
  • FSA
Foundation date:
  • 2008
27
users picked this broker in 3 months
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Our Evaluation of PaxForex

5.32/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

PaxForex is a moderate-risk broker with the TU Overall Score of 5.32 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PaxForex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.

PaxForex is a universal broker for active trading, which is perfect for manual trading and use of classic strategies without using scalping technologies.

Brief Look at PaxForex

The PaxForex brokerage was incorporated in 2010. The company provides classic OTC (over the counter) trading services to both novice and professional traders. The PaxForex team consists of former professional traders who rely on technological developments that allow them to successfully compete with other European brokers. The broker's trading toolkit is represented by currency pairs, CFDs (contract for differences) on stocks and metals, and cryptocurrencies. The company operates under the jurisdiction of Saint Vincent and the Grenadines Islands (SVG FSA).

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Advantages of trading with PaxForex:
  • availability of cent accounts;
  • relatively small spreads;
  • expert assistance and support to create your own affiliate network.
Disadvantages of PaxForex:
  • a commission charged for each withdrawal. The broker does not charge his commission, but also does not cover the costs of the trader;
  • technical limitations when working with advisors;
  • work according to the hybrid A-Book/B-Book scheme;
  • no investment programs;
  • offshore regulation, no insurance fund.

TU Expert Advice

Andrey Mastykin

Author, Financial Expert at Traders Union

PaxForex provides a diverse range of trading options, including currency pairs, CFDs on stocks and metals, and cryptocurrencies. The broker supports trading through the well-known MT4 platform, and offers demo, Cent, Mini, Standard, and VIP v accounts. With a minimum deposit starting at $10, leverage up to 1:500, and multilingual client support, PaxForex caters well to novice traders seeking to explore financial markets.

Despite these advantages, there are notable drawbacks, including offshore registration without legitimate regulatory oversight and associated concerns about investor protection. Additional disadvantages are technical limitations with expert advisors and withdrawal fees imposed by payment systems. Therefore, PaxForex may be a better fit for beginners or those focusing on manual trading, while traders prioritizing robust regulatory oversight may consider alternatives.

PaxForex Trading Conditions

Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

💻 Trading platform: МТ4, All pips
📊 Accounts: Demo, Cent, Mini, Standard, VIP
💰 Account currency: USD, EUR, GBP (USD for the cent account)
💵 Deposit / Withdrawal: WebMoney, Neteller, Skrill, Perfect Money, FasaPay, Bitcoin, bank cards, bank transfers
🚀 Minimum deposit: From $10
⚖️ Leverage: Up to 1:500
💼 PAMM-accounts: No
📈️ Min Order: 0.01 (0.0001 for the сent account)
💱 EUR/USD spread: 0,4 pips
🔧 Instruments: Currencies, assets of stock and commodity markets, cryptocurrencies
💹 Margin Call / Stop Out: 10%/5% (55%/20% for cent account)
🏛 Liquidity provider: Credit Suisse, Barclays, Deutsche bank, Goldman Sachs, UBS, and Merrill Lynch
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Order execution: Instant execution, Market execution
⭐ Trading features: Cryptocurrency trade available
🎁 Contests and bonuses: Yes

PaxForex trading conditions are attractive to novice traders with a cent account with a minimum deposit of $10. The leverage is the same for all account types, 1:500. The stop-out level is 5% for all accounts, except the cent account.

PaxForex Key Parameters Evaluation

Video Review of PaxForex

User Satisfaction i

Score:
6.7/10

Share your experience

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pinut1250
17 weeks ago

I've been pleased with the availability of penny accounts at PaxForex. It's an excellent option both for beginners and for those who want to try out strategies with minimal risk. The ability to work with small amounts allows you to better manage your capital and not worry about large losses at the stage of learning or experimenting with new approaches. There is one drawback, however: withdrawal fees. Although the broker himself doesn't charge a commission, he also doesn't cover the costs associated with transfers. As a result, the trader has to pay the commissions of the payment systems, which can reduce the final profit, especially in the case of frequent withdrawals. This is not the most convenient time, and it's worth calculating possible costs in advance before funding your account.

J'ai été satisfait de la disponibilité des comptes en cents chez PaxForex. C'est une excellente option à la fois pour les débutants et pour ceux qui veulent tester des stratégies avec des risques minimes. La possibilité de travailler avec de petits montants vous permet de mieux gérer votre capital et de ne pas vous soucier des pertes importantes au stade de l'apprentissage ou de l'expérimentation de nouvelles approches.
Il existe toutefois un inconvénient : les frais de retrait. Bien que le courtier lui-même ne prélève pas de commission, il ne couvre pas non plus les coûts liés aux transferts. Par conséquent, le trader doit payer les commissions des systèmes de paiement, ce qui peut réduire le bénéfice final, en particulier en cas de retraits fréquents. Ce n'est pas le moment le plus pratique, et il vaut la peine de calculer les coûts possibles à l'avance avant d'approvisionner votre compte.

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marshadsaddique
20 weeks ago

PaxForex offers expert help and support to create your own affiliate network, which can be useful for those who want to earn money not only by trading, but also by attracting customers. The affiliate program is quite elaborate and gives you the opportunity to earn extra income, but there can be technical limitations when working with advisors. This applies to the use of Expert Advisors and automatic strategies - some functions may be limited on certain account types. Before starting work, it's worth studying the terms and conditions carefully to avoid surprises. I think the broker offers good conditions, but it's important to consider all the nuances before signing up.

PaxForex offre l'aide et le soutien d'experts pour créer votre propre réseau d'affiliation, ce qui peut être utile pour ceux qui veulent gagner de l'argent non seulement en négociant, mais aussi en attirant des clients. Le programme d'affiliation est assez élaboré et vous donne la possibilité de gagner un revenu supplémentaire.
Mais il peut y avoir des limitations techniques lorsque l'on travaille avec des conseillers. Cela s'applique à l'utilisation des Expert Advisors et des stratégies automatiques - certaines fonctions peuvent être limitées sur certains types de comptes. Avant de commencer à travailler, il vaut la peine d'étudier attentivement les conditions générales pour éviter les surprises. Je pense que le courtier offre de bonnes conditions, mais il est important de prendre en compte toutes les nuances avant de s'inscrire.

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danaa11
2 years ago

Trading conditions, it seems to me, PaxForex is worse than other brokers. I accidentally stumbled upon PaxForex, I just became interested in learning about it. I always open trading accounts only with verified brokers, and PaxForex did not pass my verification.

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dirowaa
2 years ago

Hidden commissions are the strong point of these scammers. Idesht on one condition - you get another. And you can't prove anything.

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WilliamWef
3 years ago

There are no unique offers in PaxForex. Just an honest broker who offers favorable conditions for trading. Spreads are not the lowest among competitors, but are compensated by the absence of additional fees. I liked the Allpips trading platform that the broker offers for trading. There are no freezes, slippages and other shortcomings that interfere with full-fledged trading. The speed of order execution is also at a high level. I work intraday, sometimes with one click trading. Orders due to price discrepancies are canceled very rarely - mainly when volatility increases before the release of the news. But in such situations, I try to be out of the market, and insure open positions with Stop loss.

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candrailmadayana
4 years ago

I‘ve been working with the HYCM broker for a long time, about 2 years. In general, according to the terms of trade, they are doing well. The spreads are small, there are practically no slippages, and orders are also executed with a good speed. It makes no sense to go to another broker, as long as trading is going well here.

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jhara
4 years ago

There are no problems with the money withdrawal, but the service needs to be improved, as there are minor flaws. This broker is no worse than others, you can trade with a profit, as I am)

Score:
4.72/10

Trading Account Opening

Before you start earning, register on the Traders Union website for free to receive your automatic rebates! Then go to the broker's website using the partner link.

How to register on the PaxForex website:

1

Click the “Register” button on the main page of the broker website.

PaxForex Review - Official website
PaxForex Review - Official website
PaxForex Review - Official website
2

Enter personal information, including telephone and e-mail. The code will be sent to your phone along with the verification link to your email.

3

The following is available in your PaxForex Personal account:

1. Personal profile management.
PaxForex Review - Client Cabinet
PaxForex Review - Client Cabinet
2. Overview of statistics on bonus funds.
PaxForex Review - Overview of statistics on bonus funds
PaxForex Review - Overview of statistics on bonus funds
1. Personal profile management.
PaxForex Review - Client Cabinet
PaxForex Review - Client Cabinet
2. Overview of statistics on bonus funds.
PaxForex Review - Overview of statistics on bonus funds
PaxForex Review - Overview of statistics on bonus funds

Other useful functions and features of the Personal account:

  • work with trading platform;

  • access to the training materials and videos;

  • personal manager;

  • affiliate program statistics.

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
2.5/10

Regulation and safety

PaxForex has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Advantages
  • Negative balance protection
  • Track record over 17 years
Disadvantages
  • Not tier-1 regulated
  • Not regulated

PaxForex Security Factors

Foundation date 2008
Negative balance protection Yes
Verification (KYC) Yes

PaxForex is Not a Regulated Broker

Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
7/10

Commissions and fees

The trading and non-trading commissions of broker PaxForex have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.

Advantages
  • Tight EUR/USD market spread
  • No inactivity fee
  • No deposit fee
  • No withdrawal fee
Disadvantages
  • Above-average Forex trading fees

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of PaxForex with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, PaxForex’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

PaxForex Standard spreads

PaxForex Pepperstone OANDA
EUR/USD min, pips 0,4 0,5 0,1
EUR/USD max, pips 1,8 1,5 0,5
GPB/USD min, pips 0,5 0,4 0,1
GPB/USD max, pips 1,9 1,4 0,5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

PaxForex RAW/ECN spreads

PaxForex Pepperstone OANDA
Commission ($ per lot) 2,5 3 3,5
EUR/USD avg spread 0,4 0,1 0,15
GBP/USD avg spread 0,4 0,15 0,2

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with PaxForex. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

PaxForex Non-Trading Fees

PaxForex Pepperstone OANDA
Deposit fee, % 0 0 0
Withdrawal fee, % 0 0 0
Withdrawal fee, USD 0 0 0-15
Inactivity fee ($, per month) 0 0 0
Score:
5.01/10

Account types

PaxForex broker offers several types of accounts designed for different audiences of traders. There are cent accounts for novice traders, standard accounts, and accounts for institutional clients as well as an option to trade stocks.

Types of accounts:

Account Type
Description
Cent account
have a minimum deposit of $10 and a low volume of 1,000 units of the basic currency. The spread is from 2.4 pips; and stop-out level is 20%;
Mini account
The minimum deposit is $100; Standard lot, spread is from 1.4 pips;
Standard
Is an account for professional trading: the spread is from 0.4 pips; and the minimum deposit is $2,000;
VIP account
Is for institutional customers; the spread is from 0.4 pips; and the minimum deposit is $50,000.The VIP server is rent free.

It is also possible to open a demo account, where you can get acquainted with the broker's trading conditions and platform without risking any capital.

Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
6.95/10

Deposit and withdrawal

PaxForex received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

PaxForex provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Advantages
  • Bank card deposits and withdrawals
  • Minimum deposit below industry average
  • Bank wire transfers available
  • BTC available as a base account currency
Disadvantages
  • Limited deposit and withdrawal flexibility, leading to higher costs
  • Wise not supported
  • Only major base currencies available

What are PaxForex deposit and withdrawal options?

PaxForex provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT.

PaxForex Deposit and Withdrawal Methods vs Competitors

PaxForex Plus500 Pepperstone
Bank Wire Yes Yes Yes
Bank card Yes Yes Yes
PayPal No Yes Yes
Wise No No No
BTC Yes No No

What are PaxForex base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. PaxForex supports the following base account currencies:

What are PaxForex's minimum deposit and withdrawal amounts?

The minimum deposit on PaxForex is $10, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact PaxForex’s support team.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
4.75/10

Markets and tradable assets

PaxForex offers a limited selection of trading assets compared to the market average. The platform supports 104 assets in total, including 40 Forex pairs.

Advantages
  • Indices trading
  • Crypto trading
  • 40 supported currency pairs
Disadvantages
  • Futures not available
  • Bonds not available

%1$s Supported markets vs top competitors

We have compared the range of assets and markets supported by PaxForex with its competitors, making it easier for you to find the perfect fit.

PaxForex Plus500 Pepperstone
Currency pairs 40 60 90
Total tradable assets 104 2800 1200
Stocks Yes Yes Yes
Commodity futures Yes Yes Yes
Crypto Yes Yes Yes
Stock indices Yes Yes Yes
Options No Yes No

Investment options

We also explored the trading assets and products PaxForex offers for beginner traders and investors who prefer not to engage in active trading.

PaxForex Plus500 Pepperstone
Bonds No No No
ETFs No Yes Yes
Copy trading No No Yes
PAMM investing No No Yes
Managed accounts Yes No No
Score:
4.19/10

Customer support

Information

The broker's Customer Support service is available for each trader 24/5.

Advantages

  • Competence and professionalism of managers
  • Multilingual support

Disadvantages

  • Customer Support is not open on weekends

There are several ways to contact Customer Support:

  • by phone, as indicated on the website;

  • via fax;

  • via email;

  • via chat on the broker’s website;

  • using a questionnaire on the website in the "Contacts" section;

  • using contacts on social networks.

Support is available on the broker's website and in your Personal account.

Contacts

Foundation date 2008
Registration address Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines
Regulation FSA
Official site paxforex.org
Score:
5.97/10

Education

Information

Several sections have been created on the PaxForex broker's website. They are full of fundamental informational education and support for novice traders who don’t have very much trading experience, but it is often used by professional traders, too.

Information available on the PaxForex website
Information not available on the PaxForex website
Scheme for making money on Forex
Calculators for margin, position, volume, and/or volatility estimations
General scheme of work with MT4
Examples of strategies; templates for indicators/trading advisors
Blog
 
Fundamental analysis
 

The information presented on the PaxForex.com website can be used to develop trading systems (strategies).

Comparison of PaxForex with other Brokers

PaxForex Bybit Eightcap XM Group LiteFinance
Trading
platform
MT4, MobileTrading, MultiTerminal, Allpips MetaTrader5 MT4, MT5, TradingView MT4, MT5, MobileTrading, XM App MT4, MT5, MultiTerminal, Sirix Webtrader
Min deposit $10 No $100 $5 $10
Leverage From 1:100
to 1:500
From 1:1
to 1:500
From 1:30
to 1:500
From 1:1
to 1:30
From 1:1
to 1:1000
Trust management No No No No Yes
Accrual of % on the balance No No No No 7.00%
Spread From 0.3 points From 0 points From 0 points From 0.8 points From 0.5 points
Level of margin call
/ stop out
10%  /  5% No  /  50% 80%  /  50% 100%  /  50% 50%  /  20%
Order Execution Instant Execution Market Execution Market Execution Market Execution Market Execution, Instant Execution
No deposit bonus $7 No No No No
Cent accounts No No No No Yes

Detailed Review of PaxForex

The PaxForex company is part of the “Liano Group” financial corporation, which provides services in the European Forex market. PaxForex is registered under the jurisdiction of Saint Vincent and the Grenadines(SVG FSA), and also has offices in the UK and other countries. The broker is a universal classic company providing CFD trading services, including cryptocurrencies.

These are a few other interesting conditions by PaxForex trading:

  • the minimum deposit is $10;

  • the leverage is up to 1:500;

  • withdrawal of deposits is completed in about 7 minutes.

PaxForex is the best broker for novice traders

PaxForex is a classic broker providing standard services on the Forex market. The broker's team is focused on the technological development of the order processing system and the electronic pricing system. The broker's IT infrastructure is deployed in leading data centers in London (Equinix LD4) and New York (Equinix NY4). PaxForex servers are connected to the servers of the largest exchanges and liquidity providers via optical fiber networks. Quotes update three times per second which guarantees traders with the best execution prices.

PaxForex has only MetaTrader 4 in its toolkit. That is a disadvantage since this version of the platform does not have a full-fledged depth of market and does not allow assessing the depth of the market. Per contra, it is one of the most popular platforms on the Forex market. For these and other reasons, PaxForex is convenient and intuitive for novice traders.

Useful services offered by PaxForex:

  • pip value calculator. It allows you to calculate the pip value depending on the currency pair, the currency of the trading account, and leverage;

  • economic calendar. It provides information about the fundamental events that may affect quotes.

Advantages:

1

relatively limited spread for individual trading assets;

2

it is possible to trade major cryptocurrencies (BTC, ETH, LTC, XRP); and

3

multilingual support for over 50 countries.

There is no information on the PaxForex website about any restrictions on the use of risk, hedging instruments, or trading advisors.

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