
PaxForex Review
- User-friendly MetaTrader 4 trading platforms
- Low trading capital of $10 required
- Tight spreads & rapid trade execution speeds
- No commission fees
- Various account deposit/withdrawal methods
- Multiple account types to suit all level of traders
- Daily analysis, research & recommendations
- Free VPS & training resources
- Multilingual customer support team
- Islamic accounts
- Platforms: MetaTrader 4, Web, Mobile
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PaxForex Overview
PaxForex is an online forex and CFD broker that offers its services to traders across the globe. Established in 2011, PaxForex was formed by a group of professional traders who have worked in managerial positions within other brokerage firms. With vast knowledge and experience, the team aimed to contrive a flexible and reliable trading environment for its clients.

PaxForex Trading Instruments
PaxForex is owned by ‘Laino Group’ which is a company registered in St. Vincent and the Grenadines. Its head office is in London, UK while it has offices in other locations. The official website is available in 7 languages.
PaxForex is a true STP broker that offers competitive spreads and trade execution speeds. It sources its liquidity from premium banks such as Credit Suisse, Barclays, Deutsche, Goldman Sachs, UBS and Merrill Lynch. This helps enable the broker to offer variable bid/ask prices with minimal trade slippage. PaxForex trading servers are hosted in Equinix Data Centres which are located in London and New York. This also helps to ensure a speedy connection to exchanges and the various liquidity providers.

PaxForex Fast Execution Speeds
PaxForex offers over 70 tradable assets for trading on the popular MT4 platform which accommodates all types of traders and trading strategies. The broker also provides some tools to further assist their clients in their quest to become successful traders.
PaxForex Regulation
PaxForex is registered in St. Vincent and the Grenadines. The broker does not provide its regulatory information at the moment. Make sure you understand the difference between a regulated and non-regulated broker.
According to the brokers website, investors’ funds are apparently held in segregated accounts specifically marked as ‘clients Accounts’. They state that these accounts are kept in top rated European banks. Segregated client funds cannot be used for other business purposes such as running costs.
The PaxForex trading and transaction environment is protected by a Secured Socket Layer (SSL) which is the standard practice in order to deter internet fraudsters and protect user transactions on the website and platforms.
In compliance with the Anti Money Laundering (AML) policy, all clients are verified before the registration is completed. A government issued ID card and a utility bill is required. Clients are to upload these two documents in order to prove that are real human beings with a registered identity.
PaxForex Countries
PaxForex states that its services are not intended to be addressed to the public of Iraq, Syria, North Korea, or any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Some PaxForex broker features and products mentioned within this PaxForex review may not be available to traders from specific countries due to legal restrictions.
PaxForex Platforms
MetaTrader 4 (MT4)
PaxForex offers the popular MetaTrader 4 (MT4) trading platform to all its clients. This is the sole platform available from PaxForex. MT4 is a widely accepted platform by both brokers and traders because of it speed, features and complexity.
MT4 was developed in 2005 by a Russian Company known as “MetaQuotes Software Corporation”. Today, millions of traders from all over the world use the MT4 platform and thousands of custom indicators and expert advisors are available.
The PaxForex MT4 platform is available as a desktop application and as a mobile app. Here are a few of the features of the MT4:
- It displays the prices of all the tradable assets in real time.
- The platform interface is simple, user friendly and easily customised to suit the trader’s preferred layouts, colours and favourite instruments.
- Three chart styles including Candlesticks, bar and line charts.
- All trading instruments can be displayed on charts over 9 timeframes from 1 minute to 1 month.
- 30 inbuilt technical indicators which can be extended to thousands with additional custom indicators
- 44 inbuilt analytical tools and objects.
- Supports automatic trading through the use of expert advisors (EAs).
- Price alert notifications via pop-up, SMS email.

PaxForex MetaTrader 4 (MT4)
MetaTrader 4 (MT4) Mobile
MT4 is also developed for mobile devices that run on Android or iOS. The mobile software can be downloaded from the traders’ cabinet area of the PaxForex website. The MT4 app is simple and user friendly. It fully integrates with accounts created using the desktop version. Here are some features of the key features of the MT4 mobile app:
- Displays the live quotes of all the tradable assets. The list can be customised to show only the trader’s favourite assets.
- The app interface, colours and charts are customisable to match the trader’s preference.
- It also displays 3 chart styles of all instruments on 9 timeframes, just like the desktop version.
- It comes preloaded with 30 technical indicators and 24 analytical tools.
- It supports multiple order types including market and pending orders.
- Push notifications.
PaxForex Trading Tools
Virtual Private Serve (VPS)
The Virtual Private Server (VPS) is provided by PaxForex for all clients. However, VIP account holders are given free access to VPS while other clients can have access by paying a subscription fee of $25 every month. The VPS is suitable for clients who use complex trading systems like expert advisors (EAs), mechanical systems or news traders. The VPS has negligible latency as well as reliable and constant access to PaxForex trading servers. A VPS is useul to remotely run trading platforms 24/7 without needing your own computer switched on.
Forex Market Economic Calendar
This is a calendar listing global economic events, dates, times and location. These events have been forecasted to have impacts on currencies or other trading instruments. A trader may make trading decisions based on history, analysts’ forecasts and a host of other factors. The economic calendar is an important trading tool for traders who base their trades on fundamental analysis. It can also be filtered to show only the trader’s choice of events, assets, country, dates, etc.

PaxForex Economic Calendar
Forex Fundamental Analysis
PaxForex analysts present daily fundamental analysis to its clients. These experts follow the markets and leverage from their vast experience, tools and expertise to arrive at the trading ideas which they serve to the clients. The daily analyses are also delivered by email to clients who subscribe to the trading signals services.
Forex Blog
The PaxForex analytics department runs a forex blog on the website. This blog is frequently updated with articles posted almost every day. The aim of the blog is to help make traders successful by increasing their trading knowledge. The blog focuses on providing information on some interesting topics in the financial markets. It also provides training articles as well as market analysis.
Forex Calculator
This tool is designed to help a trader to determine the pip cost based on the instrument of choice, leverage and lots traded. It offers a simple, fast and efficient way to calculate trading costs.

PaxForex Trading Calculators
PaxForex Education
PaxForex has a collection of training resources on its website. There are several articles on forex and CFD trading that are grouped as ‘forex trading course’. These article lessons are designed to give beginners a good base to start from. Lessons cover a range of trading topics including market analysis, trade positions, money management, platform and more.
Also, a glossary of forex/CFD trading jargons is provided. The glossary contains over 200 technical trading terms along with their meanings or explanations.
PaxForex Instruments
PaxForex offers around 100 tradable instruments across different asset classes, including Forex, Stocks, Precious Metals and Cryptos. There is a range of major, minor and exotic forex pairs available for trading on the PaxForex platforms.
PaxForex Accounts Fees
PaxForex has different account types which depend on the trader’s capital. For all accounts, the maximum leverage is 1:500. The following account types are available:
Cent Account
The account is created for beginners who wish to have a taste of live forex trading. The minimum opening balance is $10 and it is only available in USD. The lot size is 1,000 and the minimum spread is 2.4 pips.
Mini Account
Best for new traders who are unwilling to take big risks. The minimum deposit is $100 and the spread starts from 1.4 pips. The margin call is at 10% and the stop out is 5%.
Standard Account
This account is geared towards experienced traders as well as professional traders. The minimum account opening balance is $2,000 and the spread starts from 0.4 pips. Margin call is at 10% while stop out is at 5%.
VIP Account
This account type is specifically made for professional traders who need the best brokerage services that PaxForex can offer. The spread starts from 0.4 pips and the account opening amount is $10,000. A personal account manager is assigned to account holders and they also get priority execution of orders. Free VPS access is also available to account holders.

PaxForex Account Types
Demo Accounts
Demo accounts can be created freely from the PaxForex traders’ cabinet. During the demo account creation process, the trader specifies the amount of virtual currency he needs which can be up to $1 billion. A demo account allows you to try the different platforms and trading strategies before opening a real trading account.
Islamic Accounts
Swap free accounts are available on request for Mini, Standard and VIP accounts. Swap free accounts are exclusively for Muslims who cannot accept interests by reason of their faith.
As broker fees can vary and change, there may be additional fees that are not listed in this PaxForex review. It is imperative to ensure that you check and understand all of the latest information directly from PaxForex before opening a trading account with this brokerage.
PaxForex Support
The client support team at PaxForex is available 24/5. The customer support desk is multilingual and can be reached on email, phone, fax, live chat and ‘Ask your Question’ form which is available on the website. PaxForex is also on social media; Facebook, Twitter, Instagram, YouTube, Telegram and LinkedIn.
PaxForex Deposit Withdrawal
PaxForex states clearly that it covers all charges for deposits from $300 and above. The exception is for bank transfers in which the clients’ bank may impose commissions.
- Bank Wire transfers: This method takes 3-5 working days on the average. The minimum deposit is $100.
- Debit/Credit Cards: All major credit cards are accepted which includes Mastercard and Visa Card. The minimum deposit accepted is $15 but deposits from $300 are not charged any commissions. A minimum of $10 can be withdrawn but commissions of 5.5% are charged. Card deposits are processed instantly but withdrawals take up to 2 days.
- Online Payments: The electronic payment channels accepted are: Neteller, Skrill, Perfect Money, WebMoney, QIWI and FasaPay. It takes an average of one hour to completely process online transactions. The minimum deposit is $10. Processing fees may be charged depending on the payment method used.
- Cryptocurrencies: The crypto payments accepted are Bitcoin and Ethereum. No deposit fees are charged and the transactions are completed within a day. The minimum payments are 0.01BTC and 1ETH.

PaxForex Payment Options
PaxForex Account Opening
Visit the PaxForex website and click on ‘Open trading account’ which can be seen at the top of every web page. The form below displays:

PaxForex Account Registration
If you already have accounts with Google or Facebook, you click on the applicable logo to enable PaxForex to receive your profile information from the website. Otherwise, fill the first page of the form and go to the next page to choose an account type, deposit method and deposit amount. The third page is for phone verification where PaxForex website automatically sends a code to the registered phone number and the code is required to continue the registration process. The last page is about e-mail verification after which you are logged into the traders’ cabinet where you can download platforms, create more accounts, make deposits, etc.
PaxForex FAQ
What is the PaxForex minimum deposit?
The PaxForex minimum deposit is just $10 or the equivalent amount in your base currency. In order to start trading online with PaxForex, you will need to at least transfer the minimum deposit amount into your trading account. This is normal practice for any broker as it covers the cost for them to setup the account and ensures that traders will be encouraged to make use of it.
The PaxForex minimum deposit is very low when compared to brokers who require a deposit of $500 or even into the thousands to open a trading account. A smaller deposit amount enables you to try out the brokers platforms and trading environment with minimal risk to see if they are suitable for your individual trading needs. Once you feel confident enough, you may then consider a larger deposit.
How do I deposit money into PaxForex?
It is a simple process to deposit funds into your PaxForex account. Just login to myPaxForex and you will see a variety of forex deposit methods for you to use. This includes bank wire transfer, credit/debit card and e-Wallets like Neteller, Skrill, Perfect Money, WebMoney and FasaPay.
Bank Transfers take 24 hours on average but due to some banks it can be up to 3 to 5 working days. Deposits made with online payment processors take around 1 hour to complete. PaxForex only accepts deposits in USD, EUR, GBP and CHF.
What are the PaxForex deposit fees?
PaxForex does not charge any fees for the external transfer of funds to your Forex account except for credit/debit Card deposits, and if used, a 2.5% charge is applied to cover a portion of the total charges made by the card processors involved in the transactions.
You will need to check with any external payment provider you are using to see if they will charge you a fee. PaxForex recovers all fees for deposits of $300 or above (except for a Bank transfer).
How do I withdraw money from PaxForex?
Just login to myPaxForex and you will see a variety of withdrawal methods for you to use, including bank wire transfer, credit/debit cards and e-Wallets. Some do not charge a fee whereas others are fee based. You can see a list of the corresponding fees on the brokers website.
The minimum withdrawal amount is $10 or the equivalent amount in your base currency when using e-Wallets. Bank transfers have a $100 minimum and credit/debit cards a $15 miniumum. Third party withdrawal are not allowed, funds must be returned to the same name as the person who deposited funds.
All withdrawal requests are processed daily from 9:00 to 18:00 Server time (GMT+3). Withdrawals are not executed on weekends and holidays. If withdrawal request was sent after 18:00 (GMT+3) of the current day, then it’ll be transferred to the next working day.
You do not need to close all open positions when withdrawing part of your funds, provided the amount does not exceed the free margin.
What are the PaxForex withdrawal fees?
PaxForex do not charge any fees for the external transfer of funds from your trading account except for credit/debit card deposits, for which a 5.5% (min $10) charge is applied to cover a portion of the total charges made by the card processors involved in the transactions. For all other withdrawal methods, they do not apply fees. However, it is important to be aware that you may be charged for transferring funds by your bank or other payment processors.
What is the PaxForex commission fee?
PaxForex does not charge a commission fee. Some brokers require you to pay a commission fee for each trade that you make with them but PaxForex offers commission free trading on all accounts.
Other fees to be aware of are the swap fee for holding a position overnight and the spread. These are normal charges that you will get from the majority of brokers.
Are there any PaxForex inactivity fees?
Unlike many of their competitors, PaxForex do not charge an inactivity fee. This means that you can avoid any dormant account charges should you not use your account for a sustained period of time.
What are the PaxForex account types?
PaxForex offers flexibility with four account types to choose from. There is the Cent, Mini, Standard and VIP account, all which come with different features and benefits. All accounts do not charge any commission fee with just spreads and swaps payable and access to maximum leverage of 1:500.
- Cent Account: $10 minimum deposit, spreads from 2.4 pips, no commission fee
- Mini Account: $100 minimum deposit, spreads from 1.4 pips, no commission fee
- Standard Account: $2,000 minimum deposit, spreads from 0.4 pips, no commission fee
- VIP Account: $10,000 minimum deposit, spreads from 0.4 pips, no commission fee
The higher minimum deposit accounts have the tightest spreads with the lowest minimum deposit being on the Cent account at just $10. If you want to trade Stocks, you will need to do so on the Standard or VIP account. The Mini, Standard and VIP account can be funded in USD, EUR, GBP and CHF.
The account type that you opt for will usually depend on your investment size and trading strategy. Traders who are using scalping systems may need the standard or VIP account due to the lower spreads. On the other hand, swing traders who hold position for days, weeks or even months, may not be too concerned about the spread.
The brokers objective is to meet your individual needs while offering a professional and personal service irrespective of the type of trading account you may choose.
Is there a PaxForex demo account?
Yes, there is the option to open a PaxForex demo account which can be a great way to practice trading online risk free. The demo account come preloaded with virtual funds and enable you to familiarise yourself with the PaxForex platform and trading environment whilst mastering your trading strategy.
To open a PaxForex demo account, simply click the register button on the brokers website, fill out the form and you will be sent an email with details so that you can login to the myPaxForex client area to download the platform and start trading right away.
Keep in mind that demo trading does not take into account emotions such as fear, anger and greed, all which can have an impact on your trading performance when using real funds.
What are the PaxForex spreads?
A spread in trading is the difference between the buy (offer) and sell (bid) prices quoted for an asset. This is a common fee that brokers charge which you pay when you take a position on a particular trading instrument. Spreads vary depending on the market liquidity and instrument.
PaxForex spreads are floating and start from 0.4 pips on major FX currency pairs such as the EURUSD. This is a relatively low spread when you consider there is no commission added.
What is the PaxForex leverage?
The PaxForex leverage is 1:500 for all account types, depending on the instrument being traded. You can also request to change your leverage from within the myPaxForex client area.
Leverage enables you to trade a position size greater than you would be able to without it. As with any leveraged product, this means that there is a possibility for both increased losses and profits.
For example, if the EUR/USD rate moves up 50 pips from 1.1305 to 1.1355 and you had invested $1000, you would have made $5 on that trade.
However, by using a leverage of 1:100, every $1 you invest is worth $100, so with your $1000 margin you can open a $100,000 deal.
For this example, your $5 profit is magnified to $500. However, if the price had moved 50 pips against you, your loss would have also been magnified to $500.
It is imperative to have a clear understanding of what leverage is and the risks involved before trading with leverage.
What are the PaxForex margin stop-out levels?
The PaxForex margin call level is set at 10% and the stop out level is set at 5%.
The margin level is the amount of equity a trader needs to maintain in order to keep a position open. Should your equity fall below the maintenance margin amount, PaxForex will make a Margin Call and close any/all open positions.
A Stop Out Level is when your Margin Level falls to a specific percentage (%) level in which one or all of your open positions are closed automatically (“liquidated”) by your broker.
It is your responsibility to monitor your open position(s) at all times and ensure that you have sufficient funds on your account or take a decision to close any or all of your open position(s).
Do PaxForex allow hedging, scalping expert advisors?
Yes, PaxForex allow hedging and scalping strategies along with automated trading via the use of expert advisors (EAs).
Is there a PaxForex Islamic account?
Yes, there are PaxForex Islamic accounts specifically for clients of Muslim beliefs who cannot earn or pay any interest due to Sharia law. 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.
Once you have opened a trading account, you can conduct the PaxForex support team to switch it over to a “swap-free” account.
The “swap-free” option is applicable to all accounts, excluding the Cent Account. After you shift your account to swap-free one, the overnight financing cost is deducted and it varies according to the asset and the trading volume.
What are PaxForex trading instruments?
PaxForex have over 100 trading instruments available to trade across various asset classes, including Forex, Stocks, Precious Metals and Cryptocurrencies.
With hundreds of trading instruments to choose from, there is something for everyone to trade, whatever your interests may be.
How do I open a PaxForex live account?
It is quick and easy to open a live PaxForex account. Simply click on the “Open trading account” button on the brokers website and complete the short application form. You can then confirm your registration via SMS/email and login to the myPaxForex client area. From there, you can then choose the account type and the conditions which you prefer, make a deposit and download the PaxForex platform to start trading online.
How do I verify my PaxForex account?
To comply with anti-money laundering (AML) rules, users will need to verify their identity and proof of address. This is a normal part of a brokers know your customer (KYC) procedures. Documents that you can upload to verify your account include a passport, driver’s license, utility bill and bank statement.
What is the PaxForex trading platform?
Each PaxForex account type gives you full access to the ever popular MetaTrader 4 trading platform, which includes fully customisable charts and technical indicators, automated trading, mobile trading app and a ton of other features.
Where can I download the PaxForex platform?
You can download the PaxForex MetaTrader 4 platform for free directly from the brokers website or from the relevant app store on your mobile devices.
Where is PaxForex located?
PaxForex was founded in 2014 in Saint Vincent and the Grenadines. The company headquarters are located in London.
Is PaxForex regulated?
No, PaxForex is not currently regulated. Whilst this means that they can offer things that some regulated brokers cannot such as higher leverage, it does also mean that you do not have the same protection should something go wrong.
What countries do PaxForex accept?
Whilst the broker accepts clients from all over the globe, PaxForex services are not intended to be addressed to the public of Iraq, Syria, North Korea, or any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Is PaxForex a scam?
No, we do not believe that PaxForex is a scam. They offer competitive trading conditions to traders around the globe and have been in business since 2011.
How can I contact PaxForex support?
If you require help with any general, technical or account related questions, you can contact the PaxForex customer support team by email, phone or live chat. They are available 24/5 and we found them to be very helpful when we asked them a variety of different questions.
PaxForex Summary
PaxForex is an online broker that offers competitive trading conditions for trading various instruments online such as Forex Stcok CFDs. The choice of the user friendly MT4 platform along with the multiple account types help show that PaxForex brokerage services are designed for all types and levels of online traders.
The account registration process is fast and easy. There are multiple payment options which include payments with cryptocurrencies like Bitcoin and Ethereum. Demo accounts are unlimited, free and can be easily be created with a few clicks in the traders’ cabinet area.
New traders can combine the training course on the website and demo account to learn how to trade. Experienced traders can leverage on the powerful trading tools and custom add-ons offered by MT4. The market analysis and other trading tools provided by PaxForex are useful to all traders.
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