Trading terminals:
Trading terminals:
Summary of PaxForex Trading Company
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).
We work exclusively with the accounts opened through Traders Union.
👍 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.
Overall
PaxForex is a universal broker for active trading, which is perfect for manual trading and use of classic strategies without using scalping technologies.
Visit PaxForexTop 3 PaxForex Customer Reviews
I rate the trading conditions of this broker as a solid B. The spreads mentioned on the website are just for advertisement and are different for each instrument and tend to expand at the most inopportune time. Tip: Read the MetaTrader 4 specifications for each instrument. Second, when the adviser starts processing orders, they sometimes simply disappear. Attempts to sort out the support for the trades log did not help as they said that I had problems in the adviser code. Third, another problem is with the withdrawal of money. The withdrawal takes at least 24 hours.
Conclusion: There are other brokers with much more favorable and interesting conditions.
My friend recommended PaxForex, and I was most attracted to the cent accounts. For me Forex is more of a hobby; therefore, I like the opportunity to work with a small deposit of $40-50. The only drawback is that there is a very large spread on cent accounts, so you have to choose assets with high daily volatility. I have not worked with other brokers, so I can’t say if PaxForex is better or worse. I feel comfortable working with it and I'm not going to change brokers for a while.
PaxForex works directly with individual liquidity providers; therefore, spreads for individual currency pairs are quite competitive here. But I prefer to work with other companies when trading metals and cryptocurrencies. The inaccuracy of quotes is discouraging. I unloaded quotes for previous periods in Excel, compared them with other brokers and came to the conclusion that there are a lot of gaps and inaccuracies. I definitely do not recommend using scalping here.
PaxForex Latest Comments for 2020
The reviews by customers of the PaxForex indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of PaxForex published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.
PaxForex has its pros and cons. I have been working with this broker for several years now, I had some issues at the beginning, but now I’m used to the conditions. I solved all my issues using Customer Support. There are no problems with that service. A big plus is that the broker does not charge any additional fees for withdrawing funds. The only commissions charged is by third-party service agencies like when withdrawing funds to a bank or an electronic wallet. I haven’t found any hidden fees or other commissions yet. When I apply for a withdrawal, I know the exact amount that I will receive. All transactions are executed without delay.
I already have several small deposits with other brokers but I started working with PaxForex after a recommendation. While I work on a cent account, I decided not to open a standard one here. I am a bit concerned about spreads, but considering that many brokers don’t even have a cent account, it’s not that bad. So far, I like this broker. Now I am thinking about opening a standard account here, too. There are no problems withdrawing funds. I have withdrawn funds three times. The amounts, of course, are small, but nevertheless, it’s all working well. The broker does not present any obstacles to making money.
I learned about the PaxForex broker from the Internet. I studied their website. They have good trading conditions and there are many good feedbacks from traders. I opened a standard account right away and started trading. The situation with the withdrawal was a bit stressful. When I accumulated the required amount to withdraw, I had a problem with the withdrawal. I understand that when withdrawing funds to a bank account, not everything depends on the broker. However, taking one week to complete a bank transfer is too long. I want to thank the customer support service, they talked to me and explained everything. They said that it was my bank that caused the delay because the money had already left the broker’s account. The broker presented evidence for their view via screenshots, etc. Very professional, indeed.
PaxForex has a demo account, cent account, an assortment of trading tools, and good customer support. They have everything the beginner trader needs. I am training on a demo and have not switched to a real account because I am still studying trading and because technical support on this platform is at its best! There is a lot of training material and managers always get in touch promptly. You will understand how the trading platform works almost immediately. On the forums, I found a lot of positive feedback from professional traders who touted the site’s professional reputation. I will continue working with them.
I've known about PaxForex for a long time, but I’ve only been trading with them for about 1.5 years. During this time, I also tried out other brokers, but I have opted to stay with PaxForex because they have really good conditions for trading. There are no commissions for withdrawals but there are delays, which are mainly caused by the banks. Customer support never ignores a request, acts promptly, and helps to clarify the issues, which are resolved in a matter of minutes.
PaxForex is a good broker where everything works fine. They have excellent technical support, live chat, and low spreads. The options for withdrawing funds are great and include Webmoney, Skrill, bank cards, etc. The brokers’ commissions are minimal or absent and mainly depends on the bank. Everything else is similar to other decent brokers. I have not made a withdrawal yet. I would like more contests and promotions. I was pleased with the opportunity to trade cryptocurrency because this topic is interesting to me. There are extra bonuses and a cent account, which I used to test the main points of trading.
I am not a newcomer to trading. I know PaxForex has different liquidity providers. It is quite profitable to work with currency pairs here because the company’s spread level is quite low. I prefer to trade stocks and metals with other brokers. In general, the broker is quite normal. If you have any issues you can always contact technical support and they can quickly clear up the situation for you. In this regard, PaxForex managers are quite good, they respond quickly and are knowledgeable. Finally, I would like them to have PAMM accounts as well.
Expert Review of PaxForex
PaxForex.com is a company that ranks in the middle position in the European market. PaxForex does not have any unique products or services that distinguish the company from its competitors, but overall, the trading conditions and order execution technology gives a rewarding experience. It works with global investment banks, which proves that PaxForex has a good reputation among its partners (liquidity providers).
PaxForex offers trading in classic Forex instruments on the familiar MetaTrader 4 platform.
The main focus is on the speed of order executions; slippages are relatively rare. The advantage for novice traders is cent accounts, where you can practice strategies and study the platform's functionality.
The company's website is convenient and it promotes trade and partner offers frequently, while urging you to compare various investment options. All of the above advantages of PaxForex allow us to recommend the broker as a reliable partner for traders at any level of trading experience. It is also worth admitting that PaxForex has been included in the Traders Union rating of Forex brokers for the last few years.
Analysis of the Main Features of the Forex Broker
Dynamics of the Popularity of PaxForex
in 2019 among the Users of the Traders Union
Investment Programs, Available Markets and Products of the Broker
PaxForex broker promotes the classic active trading thread because of the absence of many investment programs.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
PaxForex affiliate program
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IB-representative. Both an individual and a legal body can be a representative. Kinds of cooperation: СРА (fixed profit amount for each client attracted; $600 on average) and profit interest (up to 80% of the spread for each transaction made by the referral).
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Regional representative. An offer for legal entities for PaxForex brand promotion. Remuneration depends on the activeness of the referrals attracted.
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White label. An offer for legal entities that are ready to develop their own business under their own brand on the PaxForex platform.
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Return on the spread. The form of a partnership agreement, providing for the partner to return a part of his trading costs to the referral.
Rebate and Discount Programs of the Traders Union for PaxForex
Each trader has the opportunity to reduce trading costs by obtaining partial spread compensation thanks to the partnership between PaxForex and Traders Union. To use the rebate service, register on the Traders Union website for free, open an account with PaxForex using the affiliate link and get a spread refund for each transaction on the balance of your Personal Account in Traders Union, regardless of its result.
Information
The amount of compensation depends on the selected instrument (a particular currency pair, CFD (contract for differences) on metals) and averages from 0.3 to 4.5 pips per 1 lot.
Example. A trader has a turnover of 1 lot of the EUR/USD currency pair in 1 day. The spread for this pair averages 1.4 pips on the Mini account. A pip value at 4-digit quotes for this pair is $10, hence the cost to a trader for a spread could be $14. According to the terms of the partnership, 0.3 pips equals $3, and shall be reimbursed to the Traders Union by the broker for this pair. The trader gets 80% of this amount or $2.4. Therefore, the real cost to the trader is $11.6.
Try it! You’ll like this!Trading Conditions for PaxForex Users
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.
From $10
Minimum
deposit
Up to 1:500
Leverage
24/5
Support
| Trading platform: | МТ4 |
| Accounts: | Demo, Cent, Mini, Standard, VIP |
| Account currency: | USD, EUR, GBP (USD for the cent account) |
| Replenishment/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) |
| Spread: | From 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 |
| Orders execution: | Instant execution, Market execution |
| Trading features: | Cryptocurrency trade available |
| Contests and bonuses: | Yes |
Comparison of PaxForex with other Brokers
| PaxForex | FxPro | Admiral Markets UK | XM Group | AvaTrade | |
| Trading platform |
MT4, MobileTrading, MultiTerminal | MT4, MobileTrading, MT5, cTrader | MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition | MT4, MT5, MobileTrading | MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option |
| Min deposit | $10 | $100 | $200 | $5 | $100 |
| Leverage |
From 1:100 to 1:500 |
From 1:1 to 1:500 |
From 1:25 to 1:500 |
From 1:1 to 1:888 |
From 1:200 to 1:400 |
| Trust management | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No |
| Spread | From 0 points | From 1 point | From 0 points | From 1 point | From 0 points |
| Level of margin call / stop out |
10% / 5% | 25% / 20% | 100% / 30% | 50% / 20% | 25% / 10% |
| Execution of orders | Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution | Instant Execution |
| No deposit bonus | $7 | No | No | $30 | No |
| Cent accounts | No | No | No | Yes | Yes |
Broker comparison table of trading instruments
| PaxForex | FxPro | Admiral Markets UK | XM Group | AvaTrade | |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| indexes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | No | Yes | Yes | Yes |
| ETF | No | No | Yes | No | No |
| Options | No | No | No | No | No |
PaxForex Commissions & Fees
Traders Union analytics has reviewed PaxForex trading conditions for explicit and hidden commissions. The company does not have commissions for a fixed trade turnover; nor does it charge a fee for withdrawing funds. The spread size floats, and the minimum value depends on the type of account.
| Account type | Spread (minimum value) | Withdrawal commission |
| Cent | From $2.4 | Yes (system’s commission) |
| Mini | From $14 | Yes (system’s commission) |
| Standard | From $4 | Yes (system’s commission) |
| VIP | From $4 | Yes (system’s commission) |
There is a swap commission (charged for shifting transactions to the next day). Also, the analysts at the Traders Union inspected the PaxForex trading commissions, and observed that each broker was assigned an appropriate level from low to high.
| Broker | Average commission | Level |
| PaxForex | $6.1 | Low |
| FxPro | $13.2 | High |
| RoboForex | $6.55 | Medium |
The PaxForex brokerage firm offers very attractive trading conditions on commissions. You can reduce commissions even more with a rebate from the Traders Union after you join up.
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:
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the minimum deposit is $10;
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the leverage is up to 1:500;
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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:
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pip value calculator. It allows you to calculate the pip value depending on the currency pair, the currency of the trading account, and leverage;
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economic calendar. It provides information about the fundamental events that may affect quotes.
Advantages:
relatively limited spread for individual trading assets;
it is possible to trade major cryptocurrencies (BTC, ETH, LTC, XRP); and
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.
How to Start Making Profits — Guide for Traders
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:
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.
Bonuses Paid by the Broker
100% bonus for deposits of $500 or more.
Bonus from Traders Union.
You can save even more money by using the spread compensation service thanks to the partnership between the Traders Union rebate service and PaxForex. Sign up takes only 15 minutes. Register on the Traders Union website for free, and open a real account with PaxForex broker using the affiliate link on the Traders Union website, then complete the verification and get a rebate from Traders Union on the spread for each lot bid on the account. Existing clients of the broker can also get a rebate. Our support service will direct you.
Investment Education Online
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.
The information presented on the PaxForex.com website can be used to develop trading systems (strategies).
Security (Protection for Investors)
Information
The PaxForex broker operates under the jurisdiction of Saint Vincent and the Grenadines Islands.
This broker is monitored by that official regulator; therefore it is assumed that it is accountable and responsible to its clients and will fulfill its obligations.
👍 Advantages
- Provided with SSL system (Cryptographic Secure Communication Protocol)
👎 Disadvantages
- Offshore regulator
- Complicated trader Complaint system
Withdrawal Options and Fees
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PaxForex brokerage fulfills requests for withdrawal of clients' funds without any restrictions on the number of requests.
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There are several options for money replenishment or the withdrawal of funds: WebMoney, Neteller, Skrill, Perfect Money, FasaPay, Bitcoin, bank cards, and bank transfer.
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PaxForex does not charge a commission for withdrawing funds, but there is a commission on payment systems to be paid by traders.
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The minimum withdrawal amount for all electronic systems is $10, for bank cards it is $15, for bank transfers it is $100.
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Withdrawals are completed and finalized within 24 hours for electronic systems, for other options it could take up to 7-14 days.
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Withdrawal and replenishment currencies are EUR, USD, and GBP.
Customer Support Service
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:
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by phone, as indicated on the website;
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via fax;
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via email;
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via chat on the broker’s website;
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using a questionnaire on the website in the "Contacts" section;
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using contacts on social networks.
Support is available on the broker's website and in your Personal account.
Contacts
| Registration address | Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines |
Review of the Personal Cabinet of PaxForex
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:
Click the “Register” button on the main page of the broker website.
Enter personal information, including telephone and e-mail. The code will be sent to your phone along with the verification link to your email.
The following is available in your PaxForex Personal account:
Other useful functions and features of the Personal account:
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work with trading platform;
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access to the training materials and videos;
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personal manager;
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affiliate program statistics.
Tags:
PaxForex Pax Forex paxforex.comThe Oldest Reviews of the PaxForex
The reviews by customers of the PaxForex indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of PaxForex published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.
Many people appreciate the broker for the ongoing promotions. I chose a broker based on trading conditions. In PaxForex trading conditions are good, a large set of trading instruments. I do not like limiting the leverage to 1: 500. In all other respects, I have nothing to complain about.
My friend recommended me PaxForex about half of year ago. I opened an account and since then, I am here. I like here all, but especially good is their blog. I find there all latest information about events that influence the financial market. This is an amazing source for me, as I use fundamental analysis for trading. I am very satisfied with this broker.
Shares are the asset with which I work. PaxForex allows doing it only if trader has Standard or VIP account. Yep, that is why I had to open a Standard account. Though this limitation is the only drawback that I have noticed by now. Other than that, I am quite happy with how the broker works and how the work is organized. All is about the client. The platfom is fast enough, orders are executed immediately. The rest depends on me only.
I have been trading for some years, hence, you can imagine that I have an extensive experience. As well, I faced different difficulties with them. But all my difficulties ended when I started working with PaxForex. I can tell, that this broker is a good one. The main thing which is required from me is a fair trading, without breaking rules. Then, there are no problems with trading and with withdrawals. PaxForex is represented by a professional team which doesn’t make differences between rich clients and poorer clients – all traders are important for them. Yes, am going to continue working with this broker till all stays like it is.
During my trading experience I changed several brokers. Now, I am trading with PaxForex, mostly because here, even if I have problems, the broker solves them. for example, I had problems with my first withdrawal. I contacted the customer support, they asked me to submit a scanned copy of my passport. I did so, and the money was withdrawn immediately. Further, there were no issues with withdrawals. Now I earn constantly, and I even don’t think about changing of the broker.
I believe, the option of changing brokers constantly is really not the best option. I trade with this broker during several ears, and I am happy with all there. There are training materials, the broker offers bonuses, competitions, a good trading platform, trading signals. Many things depend on the trader, that is why, my motto is: learn, learn and learn. As well, money management is important. The company is obliged to provide a proper technical basis, and the rest depends on a trader. With the technical side, all is fine.
Has long opened an account with the company. It can be seen how functions and services are constantly improving. It's a pleasure to trade with such a broker. There was a negative trading experience before this broker, but now there are no problems. I trade for the medium term. I was contacted by the support desk a couple of times on technical issues. There was no need to address any more. I will also give advice to those who seriously trade - take a 100% bonus on replenishment of the deposit, and also use the refund of the spread part.
Author of this Review
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FAQs
Do reviews by traders influence the PaxForex rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about PaxForex you need to go to the broker's profile.
How to leave a review about PaxForex on the Traders Union website?
To leave a review about PaxForex, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about PaxForex on a non-Traders Union client?
Anyone can leave feedback about PaxForex on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
Why is it more profitable to work with PaxForex through Traders Union?
Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.
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