PaxForex
- Trust score
- 3/10
- Legal simplicity
- 3/10
- Min. deposit
- 10
Features
- Seminars and training
- Daily market analysis
- Low initial deposit
- Islamic accounts
- Deposit bonuses
- Segregated accounts
- Scalping allowed
- Affiliate program
- Wide range of trading instruments
Pros
- No distinct advantages noted
Cons
- No significant drawbacks identified
Updated:
PaxForex is an offshore forex and CFD broker founded in 2010 and based in Saint Vincent and the Grenadines. It operates without regulation from any financial authority and trades exclusively through MetaTrader 4. Four account tiers span a $10 minimum deposit on the Cent account up to $10,000 on the VIP account, with spreads tightening from 2.4 pips to 0.4 pips. Instruments include currency pairs, indices, shares, metals, and cryptocurrencies, with leverage up to 1:500.
PaxForex is an offshore MT4 broker offering Islamic and segregated accounts, deposit bonuses, and scalping, with a low $10 minimum deposit and a wide range of instruments.
What Is PaxForex
PaxForex is an offshore forex and CFD broker founded in 2010 and headquartered in Saint Vincent and the Grenadines. It is not regulated by any financial authority and operates worldwide except in the United States.
Regulation
PaxForex is registered offshore and carries no license from a financial regulator. Traders lose the oversight and dispute-resolution mechanisms that regulation provides, which is a key factor to weigh before opening an account.
Account Types
PaxForex offers four account tiers, differing mainly in minimum deposit and spread:
| Account | Minimum deposit | Average spread |
|---|---|---|
| Cent | $10 | 2.4 pips |
| Mini | $100 | 1.4 pips |
| Standard | $2,000 | 0.4 pips |
| VIP | $10,000 | Low, with a dedicated account manager |
Trading Platform
PaxForex runs exclusively on MetaTrader 4 (MT4), supporting custom indicators, Expert Advisors, and automated trading.
Instruments
Available instruments include currency pairs, CFDs on stock indices, individual company shares, precious metals, and cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Litecoin.
Deposits and Withdrawals
Funding methods include international bank transfer, credit and debit cards, and e-wallets such as WebMoney, Skrill, Neteller, Perfect Money, and QIWI. Card withdrawals carry a 5.5% commission fee.
Other Features
- Demo account available; base currencies USD, GBP, and EUR
- Maximum leverage of 1:500
- Daily fundamental analysis of the forex market
- Islamic (swap-free) and segregated accounts available
- Scalping and automated trading allowed
- Mobile trading and VPS available; no web terminal or social trading
- Trading signals and deposit bonuses offered; no PAMM accounts or contests
- Support available 24/5
Bottom Line
PaxForex's low $10 entry deposit, simple sign-up, and high leverage make it accessible, but the absence of financial regulation removes a layer of protection that regulated brokers provide. Weigh that trade-off against your own risk tolerance before depositing funds.
