Top Options
80%/ 100
Type of Broker: Forex
Payout: N/A
Min Deposit: $10
Min Trade Amount: 0.001lots
US Clients:
Free Demo Account:
Max Trade Amount: 10 lots
Leverage: 1:200
Fees:
Fees: N/A
Number of Assets: >30
Types of assets: Currencies
Option Types: Buy/Sell
Expiry Times: N/A
Charting Package:
Trading Signals:
Market Analysis:
Education: Yes

Full Review

PaxForex was founded in 2011 by a team of professional traders with experience in forex, options, stocks, CFDs and many other financial instruments. The group established the company with the aim of assisting newbies to become expert traders themselves. PaxForex is the brand name of Laino Group Ltd, a global business firm that is registered in the St. Vincent and the Grenadines, a southern Caribbean nation. PaxForex is also based in Montenegro and has an official office in London, United Kingdom. The broker accepts traders from all parts of the world including the USA. It permits traders to trade forex, commodities, futures, and contracts for differences (CFDs).

Regulation

While PaxForex is registered in the St. Vincent and the Grenadines, it is not regulated by a globally recognized financial institution. This is because its headquarters is located in Montenegro. However, seeing as Montenegro is in negotiation to become an EU member, the firm hopes to adopt the Directive 2004/39/EC on MiFID as soon as the country gets accepted in the European Union.

Is PaxForex Scam or Legit?

A lot of people have raised concerns about whether PaxForex is a reliable broker. With that in mind, we studied the company to find out the truth about their operations and whether they can be trusted. We discovered that they are indeed trustworthy for a lot of reasons. These are the key factors that make PaxForex legitimate:

  • Clients’ reviews show that PaxForex provides excellent service and offers advanced trading technologies that work as claimed. As a registered company, PaxForex does its bit to abide by established industry rules to make a case for a smooth transition into an internationally regulated company. For the trader, this means that they will serve you with utmost regard by providing exceptional services. As such, the firm does not indulge in business malpractices, at least, not to our knowledge.
  • PaxForex is transparent in its dealings. The broker provides valid contact address and customer support channels as every regulated company would. This is unlike fraudulent companies that falsify addresses in a bid to stay in the shadows.
  • Over the course of this review, we did not find any incriminating evidence against PaxForex as being a dubious company.
  • PaxForex offers bonuses as promised. We figured out that traders are allowed to withdraw the $7 welcome non-deposit bonus as well as other promotional bonuses.
  • PaxForex allows potential clients to try out a demo account for free before opening actual trading accounts. PaxForex lets traders trade the market with real quotes in real time using virtual funds. This allows the trader to experience the risks involved firsthand. It helps traders to gain a good grasp of the trading process while enabling them to test whether the broker works as advertised or not.
  • Some of the most reputable financial institutions are responsible for providing PaxForex liquidity. These organizations include Barclays, Credit Suisse, Deutsche Bank, UBS, Goldman Sachs, as well as Merrill Lynch. What this means for the trader is that you are guaranteed to get your payout whenever you like.

PaxForex Legit Trading Software

PaxForex supports the following trading platforms:

  • MetaTrader 4. PaxForex offers one of the world’s most popular trading platforms, the MT4. They do this to ensure that traders can fully automate trades using Expert Advisors. The MT4 trading platform offers several built-in technical indicators. The system also features an advanced charting and provides a comprehensive back-testing environment.

PaxForex App’s Special Trading Tools

PaxForex offers tools that help make for an inspiring trading experience. The tools provided include:

  • Educational tools. PaxForex allows traders access to educational tools and resources such as trading courses, videos, webinars, as well as eBooks. These tools help improve clients’ knowledge about forex and the markets in general.
  • PaxForex offers news and analysis resource that enables traders access information on the markets as they unfold.
  • PaxForex provides pip and margin calculators which help work out the pip value of each position in a trader’s chosen currency.
  • Economic & financial calendars. PaxForex lets traders take a glimpse into forthcoming economic events that impact the markets. With PaxForex, clients will stay up-to-date with breaking economic and financial news.

Asset List

PaxForex has made sure that traders have access to the most traded instruments on the market. Some of the assets on offer include:

  • PaxForex offers currency pairs like EUR/GBP, AUD/USD, EUR/JPY, GBP/USD, GBP/JPY, USD/JPY, EUR/USDNZD/USD, among others.
  • PaxForex clients can trade commodities such as copper, platinum, copper, oil, coffee, sugar, gold, wheat, and silver.
  • This category covers Bombay 30, Nasdaq 100 Futures, DAX Futures, DAX, ASX200, TECDAX, Aviv25, S&P, KLSE Futures, and Nikkei 225. Others are Hang Seng, Dow Jones, FTSE MIB, Straits Times, TOPIX500, VIX, IBEX35, among others.

Transaction Methods

PaxForex clients are offered a wide range of deposit and withdrawal methods. The following channels are available:

  • Wire Transfer. Traders at PaxForex can conduct transactions via bank transfer.
  • Credit/Debit Cards. PaxForex clients can make payments into and withdraw funds from their accounts using VISA and MasterCard.
  • E-Wallet. Digital wallets options like Skrill, Neteller, Webmoney, etc., are also available.

Customer Support

PaxForex offers support via email, telephone, Skype, fax, live chat, and contact form. The email address is [email protected]; telephone, +44 208 133 1627; and fax, +44(0)844 507 0446. The supported languages are English, Chinese, Portuguese, Thai, Russian, Laothian, and Arabic.

Conclusion: PaxForex is Legit

Our research and investigation showed that PaxForex is a completely legitimate trading solution. We did not find anything that suggest the system does not work as promised. It is a great choice for traders who are looking for a platform that is patient enough to nurture and help them grow, as this is the main reason why the company was established. Advanced traders will find its features and tools incredibly useful. The system offers lots of bonuses and many commission-free account types.