PaxForex

PaxForex is a legally registered Forex broker founded in 2010 and located in Saint Vincent and the Grenadines. PaxForex broker accepts clients from all over the world with the exception of the USA and some countries where restrictions apply.

PaxForex – a regulated broker?

PaxForex brokerage company, registered in Saint Vincent and the Grenadines, provides traders with the flexibility of using an offshore-registered broker with simple verification requirements, narrow spreads and a high leverage of up to 1: 500.

Although PaxForex is not regulated by any government authorities, it has become a popular broker among retail Forex and CFD traders.

What types of accounts does PaxForex offer?

PaxForex offers four trading accounts to choose from:

1. Cent. This is the best account for beginners who want to test themselves in the market before starting real trading. The minimum deposit is only $ 10, and the average spread is 2.4 points.
2. Mini. A good option for novice traders with a minimum deposit of $ 100 and a spread of 1.4 points.
3. Standard. This account is best suited for experienced traders with low spreads of 0.4 points and a minimum deposit of $ 2000.
4. VIP. Ideal for professional traders who can deposit at least $ 10,000, want low spreads and an individual trading manager.

PaxForex Trading Platforms

As for the platforms, PaxForex uses MT4 as the only trading platform. This is a popular trading boarda form with a user-friendly interface and the ability to install custom indicators and Expert Advisors.

Trading instruments

PaxForex broker offers a large selection of currency pairs, CFDs on stock indices and shares of individual companies, as well as precious metals and popular cryptocurrencies such as Bitcoin, Ethereum, Ripple and Litecoin.

What is the minimum deposit in PaxForex?

The minimum deposit amount is only $10. PaxForex broker accepts deposits via international bank transfers, credit and debit cards and electronic wallets, such as WebMoney, Skrill, Neteller, Perfect Money, QIWI and others. Please note that the broker charges a fairly high commission of 5.5% for withdrawing funds to credit and debit cards.

Conclusions

PaxForex is an unregulated offshore brokerage company located in Saint Vincent and the Grenadines. However, it has a simple registration process, a high leverage of up to 1:500 and works with all countries except the United States. A pleasant additional advantage of using PaxForex is the daily fundamental analysis of Forex, which is published on the broker's website. Unlike many other brokers that mainly focus on technical analysis, this broker does a good job of introducing its clients to important fundamental events in the Forex market.

Before choosing a broker, we recommend that you read the reviews of PaxForex, as well as see our rating of Forex brokers.