PaxForex Review

PaxForex Logo

PaxForex is an online trading broker that provides a diverse range Forex and CFD trading services in over 70 tradable assets, spread across currency pairs, equities, metals, and cryptocurrencies. The broker provides clients with the widely acclaimed and user-friendly MetaTrader 4 platform for web, desktop and as mobile trading apps. PaxForex has good trading conditions including no trade commission fees, tight spreads, rapid trade execution speeds and leverage of up to 1:500. You can open a trading account with a minimum deposit of just $10 whilst there are free demo accounts if you would like to practice trading online before making an investment.

PaxForex uses the STP model of trade execution and provides a selection of educational resources, daily market analysis along with many useful trading tools. Within the specific context of online trading, STP price quoting means that the broker, unlike in the case of a market maker (MM) broker, does not take the opposite side of a clients’ trade. Instead, the broker facilitates the matching of the trade position with a counter-party in market, which is made up by liquidity providers and other financial institutions. The bid and ask prices quoted to traders are those of the main market.

As PaxForex use the STP brokerage model it makes no difference to the broker whether a trader wins or loses a trading position. The broker makes its money purely from any spreads or commissions charged on each trade, which can help to reassure traders of transparency and a lack of any potential conflict of interest. It also means that trades can be executed quickly, at the best available prices from the brokers liquidity pool.

Whatever your prior trading experience or investment size, it doesn’t really matter as PaxForex welcome clients from all background. They do not have any restrictions on trading strategies so you are free to use a forex scalping strategy, trade the news, swing trade, hedge and use automated trading systems. They have decent conditions for running expert advisors (EAs) in the MT4 desktop platform.

PaxForex was founded by a team of professional traders along with the help of some investors. The owners of the company have extensive experience in various financial markets as traders and dealers respectively. This knowledge and experience, has provided them with the ability to offer you one of the fairest, most flexible and most stable environments for trading.

PaxForex have garnered experience through working in managerial positions with some of the largest brokers, who ironically are now their competitors. Despite not being as large as some other brokerage firms, they have a large enough work force to ensure that they can always meet client demands on time and provide unique products and services to the online brokerage industry.

The PaxForex IT Infrastructures have been deployed within industry leading datacentres located in London (Equinix LD4) and New York (Equinix NY4) thus connecting the brokers servers to those of the Major Exchanges and Liquidity Providers via fibre optic cables to help try and bypass the Internet congestion. What this effectively means is, that they have a powerful trading environment capable of handling retail and institutional trading activity in high volumes. The electronic pricing engine allows the price on every currency pair to be updated three times per second so that the brokers prices reflect the current global forex market levels.

The spreads are the best possible spreads used in normal market conditions. Under certain market conditions, – such as over the release of key economic figures, during periods of volatile market conditions, and during the illiquid European night time – spreads may be wider. This is normal with any broker.

PaxForex Investment Products

With PaxForex, you can trade CFDs on Forex, Stocks, Indices and Commodities.

CFD Trading

A contract for difference (CFD) allows traders to speculate on the future market movements of an underlying asset, without actually owning or taking physical delivery of the underlying asset. This means that you can speculate long (buy) or short (sell) on the price of an asset depending on what direction you think the price will move. The difference in price between the open and closing of a CFD, is the profit or loss excluding any applicable broker fees.

Financial leverage in CFD Trading is an investment strategy that allows them to gain exposure to the financial markets with a smaller upfront capital, known as margin. This strategy is also known as margin trading, which allows traders to make their capital work harder for them and achieve a higher return on equity. However, it also significantly increases risk and losses can be much greater when trading with leverage. It is therefore important to make sure you understand what leverage is and how it works before trading leveraged positions.

PaxForex Platforms

PaxForex provides clients with the famous MetaTrader 4 (MT4) trading platform, which is the most widely accepted platform for trading Forex and CFDs. It is used by millions of traders and investors all over the globe. The MT4 platform is freely available for trading with the broker and available in the MT4 desktop platform, web platform and the mobile trading apps.

PaxForex MT4 Desktop Platform
PaxForex MT4 Desktop Platform

MT4 Desktop Platform

The MT4 platform has a simple, user-friendly, and easily customizable interface. It comes with 3 chart styles — candlestick, bar, and line charts — but you can also add scripts for other charts like range bar and Renko charts. There are over 30 technical indicators and more than 44 analytical tools, as well as automation tools.

MT4 Features

Some of the important MT4 features include:

  • Real time price quotes
  • 9 chart timeframes
  • 30+ technical indicators
  • 44+ analytical tools
  • Instant, pending and limit orders
  • Candlestick, bar and line charts
  • Price alert notifications
  • Automated trading
PaxForex MT4 Web Platform
PaxForex MT4 Web Platform

MT4 Web Trading Platform

The MT4 web platform can run directly in most modern web browsers without you needing to download or install any additional software. Traders can place pending or market orders and view all their trading activity on both Live and Demo accounts.

MT4 Web Platform Features

Some of the important MT4 web trader features include:

  • Trading directly via a browser
  • Compatibility with Windows, MacOS, Linux
  • Reliable data protection
  • All types of trading orders and MetaTrader 4 execution modes
  • One Click Trading
  • 30 indicators and 24 graphical objects for technical analysis
  • 9 time-frames, from one minute to one month
  • Real-time quotes in Market Watch
  • History of trading operations
PaxForex MT4 Trading App
PaxForex MT4 Trading App

MT4 Mobile Trading App

MT4 mobile trading apps are compatible with Android and iOS devices and can be downloaded from the broker’s website. The MT4 app is simple, intuitive, and user friendly to help you trade and manage your trades from anywhere, provided you have an internet connection. This is especially useful for traders who travel a lot or just prefer the comfort of trading from within the palm of their hands.

Moreover, this mobile terminal offers to traders the possibility for technical analysis and graphical visualization with many useful and very helpful financial instruments, including off-line mode. Completion of the trading operations is treated with a high confidentiality.

MT4 App Features

Some of the important MT4 trading app features include:

  • Full management of trade accounts
  • Work from any location in the world
  • 30 technical indicators
  • All types of orders
  • Push notification price alerts
  • Financial market news
PaxForex Allpips
PaxForex Allpips

Allpips

Multi-asset terminal Allpips combines cutting-edge technologies and a classic design taken to a completely new level. No more unnecessary software and updates – get access to all global financial markets via a web terminal in a familiar web browser.

No matter how you trade, on real or demo accounts, no additional fees will be charged for that. Allpips is a cloud terminal, so your personal account and the strategies that are kept in it should always be safe and secure.

Keep track of your trades with details on balance, margin, profit and more. Manage your trading accounts and trading action anywhere from the web. One click trading allows you to enter positions fast and safely and makes trading operations more comfortable in order to save you time.

Even the most sophisticated of traders and investors should find plenty of options and features available within the Allpips platform to satisfy their requirements and demands. Unique watchlists, multiple windows, and a countless amount of viewing methods – all these things are intended to provide as convenient trading conditions as possible. Traders have an opportunity to enjoy some of the fastest charts in the industry and advanced tools of technical analysis from anywhere in the world in any browser.

PaxForex Tools

In addition to the abundance of powerful tools already available in the provided trading platforms, PaxForex provides some additional helpful tools, such as an Economic Calendar and Forex Calculators.

Forex Calculators

In order to be able to calculate the most important forex parameters, every trader needs a special calculator. The Forex Calculator includes a Forex Margin Calculator and a Forex Pip Calculator.

The PaxForex Calculator will be useful to forex traders when they want to calculate the on-line cost of a pip, lot size and spread costs depending on the overall size of the leverage. All this will be very helpful to know before conducting forex transactions and understand in advance what’s what in this financial market.

Another big and notable advantage of the Forex Calculator is that while using it, forex traders do not need to keep in mind or write down on paper big lists of mathematical thoughts on each of the currency pairs. Making a transaction with variable parameters, required data is calculated automatically, quickly and without errors.

PaxForex Trading Calculator
PaxForex Trading Calculator

Forex Market Economic Calendar

The Financial news calendar is a handy tool for every Forex trader that allows keeping abreast of important developments in the economy of practically all countries. The forex economic calendar allows you to track all major economic events in the world economic life and on their basis predict the currencies rate changes. As exchange rates can affect both short-term economic developments and market expectations, it is helpful to know in advance about the release of the important fundamental news, to help determine what changes may occur in the Forex market.

PaxForex Research & Education

PaxForex provides a collection of educational resources on their website, including trading guides, articles and a glossary of forex/CFD trading jargon. The articles are organized into a trading course covering a range of topics that both new and experienced traders may find useful. There is also a Forex Blog and Market Analysis.

Market Analysis

Regularly updated news of the financial markets, the economic calendar of events and all types of market analytics provide clients access to the latest information they need to try and help them make the right decisions in their trading process.

All clients are assisted directly by PaxForex in-house team of traders, who can be conveniently contacted via email, telephone and chat services. Regular intra-day market updates as well as a strategic outlook on the main currency pairs are delivered free of charge.

Forex Trading Course

The PaxForex trading course introduces you to the basics in trading, promotes understanding and assists you in your trading career. The guide can help traders to increase your knowledge about forex trading and allow you to enhance your skills. The course is split into ten parts and covers a wide variety of trading topics such as creating a trading strategy, working with the MetaTrader 4 trading platform, defining support and resistance levels of currencies, and more.

Forex Terms Glossary

The PaxForex glossary contains an A-Z of forex related terms along with an explanation of each. This can be helpful for you to understand some of the key trading terminologies.

PaxForex Trading Accounts

PaxForex provide you with the flexibility to choose among 5 different forex trading account types to cater to different trading styles and investment sizes. Their objective is to meet your individual needs while offering a professional and personal service irrespective of the forex type of account you may choose. All accounts do not have a commission fee as it is already included within the spread.

Each Forex account type gives the forex investor full access to the popular MetaTrader 4 trading platform, which includes unlimited charts and technical indicators, automated trading, mobile trading software and access to detailed forex account information.

The minimum deposit to open a trading account with PaxForex is $10 or the equivalent amount in your base currency. They have free demo accounts and Islamic accounts that are swap-free for Muslim traders.

Cent Account

The cent account is designed for newcomers who wants to get an experience of real money trading with the lowest risk possible on a real account. The cent forex account can be a helpful way to adjust your own trading strategy, or expert advisor testing with the broker trading conditions. It has a $10 minimum initial deposit, only available in USD, and spreads from 2.4 pips.

  • Minimum deposit: $10
  • Spread: 2.4
  • No Commission
  • Forex & Commodities
  • 0001 minimum lot size

Mini Account

This forex account is sacrificially designed for new forex traders. It allows them to trade Forex without exposing themselves to high risk. The minimum deposit is $100. It has relatively competitive Forex spreads starting from 1.4 pips. PaxForex clients often start trading from mini forex trading account to get a feel for all the broker features.

  • Minimum deposit: $100
  • Spread: 1.4
  • No Commission
  • Forex & Commodities
  • 0.01 minimum lot size

Standard Account

Designed for experienced as well as professional Forex traders with a distinctive knowledge of the Forex. This account has some of the lowest forex spreads, allowing clients to trade Forex, Gold, Silver. The minimum account balance is $2,000, and spreads start from 0.4 pips

  • Minimum deposit: $2,000
  • Spread: 0.4
  • No Commission
  • Forex, Commodities & Shares
  • 0.01 minimum lot size

VIP Account

The PaxForex VIP account is designed for experienced and professional Forex traders who are ready to trade significant volumes. It has the lowest Forex spreads, allowing account holders to trade Forex, Gold, Silver, plus direct access to their own personal Account Manager, through phone, chat or email. The minimum account balance is $10,000, whilst the spreads start from 0.4 pips.

  • Minimum deposit: $10,000
  • Spread: 0.4
  • No Commission
  • Forex, Commodities & Shares
  • Priority execution
  • 0.01 minimum lot size
PaxForex Account Types
PaxForex Account Types

Islamic Account

The PaxForex Islamic account is swap-free and suitable for Muslim traders who are not allowed to pay swap fees due to their religious beliefs. Rather than swap, a settled financing charge (commission) is applicable on the account and it bases on the asset traded and the amount of lots only, not on the interest rate.

Demo Account

If you are new to trading online, you may want to first open a free PaxForex demo account which can be a good way to practice your trading strategies without any risk. After you have built up some experience and confidence, you can switch over to a real live trading account at any time.

PaxForex Account Funding

PaxForex have a variety of convenient funding options for making deposits and withdrawals such as bank wire transfers, debit/credit cards, Bitcoin, Ethereum, and online payment processors like Skrill, Neteller, WebMoney, QIWI, FasaPay, and Perfect Money.

The accounting and support team work hard to guarantee clients fast deposit and withdrawal speeds. They state that they process 90% of all deposits within 7 min and for 75% of our withdrawals, they state that it takes less than 30 min to reach the client’s account.

Bank transfers can take a few working days to clear whereas online payment processors and card payments can be instantaneous. The broker does not charge any deposit or withdrawal fees but you may need to check if your bank or e-wallet provider has any applicable fees. PaxForex recovers all fees for deposits of $300 or above (except for a Bank transfer). There may also be a currency conversion fee if you are using a currency other than that of your trading account.

PaxForex Deposit & Withdrawals
PaxForex Deposit & Withdrawals

PaxForex Customer Service

If you’re looking for a company where you get the same people on the phone year after year, you’ll be happy with PaxForex. The PaxForex multi-lingual Customer Support Team is available 24-hours a day, 5 days a week via Live Chat, Skype, Email, Call Back Request and Telephone. You can also send them a contact form and reach out to them on various social media channels.

PaxForex have a philosophy for creating a strong bond between company and customers, which has helped them to try and keep high industry standards. That’s why many customers around the world decide to work with PaxForex and recommend them to other customers.

PaxForex Regulation

PaxForex is an online brokerage brand owned and operated by Laino Group, which is a financial service firm registered in St. Vincent and the Grenadines. The broker does not state its regulatory status, and most traders would be cautious about dealing with an unregulated broker. However, the lack of regulation does mean that PaxForex can offer certain trading conditions that a regulated broker would not be able to due to strict rules and regulations put in place to protect investors.

PaxForex state that they ensure safety, security and reliability at all times. Using advanced encryption technology to ensure privacy and security over the Internet. All communication is encrypted using SSL technology (Secure Socket Layer). Passwords are encoded; making sure that only you know your password. All personal information is completely confidential; they do not share your information with any third parties.

Client funds are held in segregated accounts, specially designated as “Clients Accounts”, with a number of investment grade European Banks which are closely monitored. PaxForex has similar capital adequacy requirements to Banks.

PaxForex FAQ

What is PaxForex minimum deposit?

The minimum deposit required by PaxForex is $10.

Where is PaxForex based?

PaxForex is based in St Vincent and the Grenadines.

When was PaxForex founded?

PaxForex was founded in 2011.

What are PaxForex platforms?

PaxForex provides the MetaTrader 4 platforms for web, desktop and mobile. They also have the Allpips web platform.

What trading instruments do PaxForex have?

With PaxForex, you can trade CFDs on Forex, Stocks, Indices, Commodities, Metals and Energies.

What are PaxForex deposit and withdrawal options?

PaxForex accept deposits and withdrawals via bank transfer, credit/debit card and various e-Wallets.

What is PaxForex leverage?

The maximum leverage at PaxForex is 1:500 for qualifying clients.

What is PaxForex commission fee?

PaxForex do not charge any commission fees as they are already included within the spread.

What are PaxForex spreads?

PaxForex have variable spreads starting from 0.4 pips.

Do PaxForex offer demo accounts?

Yes, there is a free PaxForex demo account if you would like to practice trading online and test out the brokers services before opening a real account.

Do PaxForex offer Islamic accounts?

Yes, the PaxForex Islamic account is a swap-free option for Muslim traders.

Do PaxForex allow scalping, hedging, news trading and automated trading?

Yes, PaxForex do not have any restrictions on trading strategies.

Do PaxForex charge an inactivity fee?

No, PaxForex do not charge any inactivity fees.

Is PaxForex regulated?

No, PaxForex is not currently regulated.

PaxForex Review Summary

PaxForex is an established broker that provides forex customers with some of the best possible conditions for trading forex online. They have offers for both beginners and experienced traders alike. They are customer focused and use an innovative approach to business development with the interests of the client and providing optimal conditions for a comfortable forex trading environment.

PaxForex is trusted by hundreds of thousands of customers worldwide, from Asia to North America. They assure you that working with them ensures the highest level of service, strict compliance with all the terms of trading, and reliability provided by some of the most advanced forex technologies.

PaxForex clients have constant access to the information data and major news from the world leading informational agencies. The brokers team of market analysts publish an impressive amount of extremely useful information of technical and fundamental analysis every day, as well as economic news.

By opening an account with PaxForex broker, you get access to trade the Forex market, CFD, futures trading and commodity markets. After a simple registration process, you will get complete freedom in choosing the account that best fits your individual requirements. In addition, they are working every day with customers to provide them with comprehensive around the clock support and education for informed trading decisions.

There is also the risk-free trading on the PaxForex demo accounts which can help beginners to gain some experience and trial the brokers products and services before making a commitment. All in all, PaxForex have a solid trading service if you can look past the fact that they are not regulated.

PaxForex

8.1

Spreads

8.5/10

Liquidity

9.0/10

Commissions

9.0/10

Support

9.0/10

Regulation

5.0/10

Features

  • User-friendly MT4 trading platforms
  • Low spreads and no commission fees on trades
  • Free daily trading signals
  • Free educational tools
  • Videos and guides
  • STP execution for reliable transactions
  • Plenty of deposit/withdrawal methods
  • Flexible account types for all trading styles
  • Personal account manager
  • 24/5 multilingual customer support