PaxForex: Fast Execution With A Multilanguage Support

August 1, 2020
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PaxForex is a broker that offers very good fees when trading and the minimum initial deposit to open an account is only $10 USD. In addition, the broker accepts deposits in USD, EUR, GBP and CH. PaxForex offers the Metatrader 4 investment platform and offers you the possibility to trade Forex, stocks, options, cryptocurrencies and CFDs. Also, the broker gives you a wide variety of funding and withdrawal methods. If you are looking for these characteristics, PaxForex can be a good alternative.

We recommend that you do a thorough review of the alternatives that the market offers you when choosing the broker that best suits your needs. We believe that you should choose a broker that is your ally when investing your capital. For this reason, we recommend over PaxForex because it offers you the best spreads with no commissions, plenty of deposit or withdrawal options, an excellent investment platform and the best customer service.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with PaxForex and scored our findings on a 10-point scale across 10 distinct categories.
Fees 9
Signup Process 7
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 8
Customer Support 10
Asset Classes 3
Referral Program 0
Demo Account & Educational Resources 8
Safety & Regulation 6
Total 69

What is PaxForex?

PaxForex is a broker founded in 2011 and based in Saint Vincent and the Grenadines. It is a trading name of Laino Group Limited which is registered by the Financial Services Authority (FSA). PaxForex offers the possibility of trading different assets from many different countries around the world. Below we show you all the countries where it is possible to open an account with PaxForex

Afghanistan Central African Republic Gibraltar Liberia Oman Spain 
Åland Islands Chad Greece Libya Pakistan Sri Lanka 
Albania Chile Greenland Liechtenstein Palau Sudan 
Algeria China Grenada Lithuania Palestine, State of Suriname 
American Samoa Christmas Island Guadeloupe Luxembourg Panama Svalbard and Jan Mayen 
Andorra Cocos (Keeling) Islands Guam Macao Papua New Guinea Swaziland 
Angola Colombia Guatemala Macedonia, The Former Yugoslav Republic of Paraguay Sweden 
Anguilla Comoros Guernsey Madagascar Peru Switzerland 
Antarctica Congo Guinea Malawi Philippines Syrian Arab Republic 
Antigua and Barbuda Congo, The Democratic Republic of the Guinea-Bissau Malaysia Pitcairn Taiwan, Province of China 
Argentina Cook Islands Guyana Maldives Poland Tajikistan 
Armenia Costa Rica Haiti Mali Portugal Tanzania, United Republic of 
Aruba Côte d’Ivoire Heard Island and McDonald Islands Malta Puerto Rico Thailand 
Australia Croatia Holy See (Vatican City State) Marshall Islands Qatar Timor-Leste 
Austria Cuba Honduras Martinique Réunion Togo 
Azerbaijan Curaçao Hong Kong Mauritania Romania Tokelau 
Bahamas Cyprus Hungary Mauritius Russian Federation Tonga 
Bahrain Czech Republic Iceland Mayotte Rwanda Trinidad and Tobago 
Bangladesh Denmark India Mexico Saint Barthélemy Tunisia 
Barbados Djibouti Indonesia Micronesia, Federated States of Saint Helena, Ascension and Tristan da Cunha Turkey 
Belarus Dominica Iran, Islamic Republic of Moldova, Republic of Saint Kitts and Nevis Turkmenistan 
Belgium Dominican Republic Iraq Monaco Saint Lucia Turks and Caicos Islands 
Belize Ecuador Ireland Mongolia Saint Martin (French part) Tuvalu 
Benin Egypt Isle of Man Montenegro Saint Pierre and Miquelon Uganda 
Bermuda El Salvador Israel Montserrat Saint Vincent and the Grenadines Ukraine 
Bhutan Equatorial Guinea Italy Morocco Samoa United Arab Emirates 
Bolivia, Plurinational State of Eritrea Jamaica Mozambique San Marino United Kingdom 
Bonaire, Sint Eustatius and Saba Estonia Japan Myanmar São Tomé and Príncipe United States 
Bosnia and Herzegovina Ethiopia Jersey Namibia Saudi Arabia United States Minor Outlying Islands 
Botswana Falkland Islands (Malvinas) Jordan Nauru Senegal Uruguay 
Bouvet Island Faroe Islands Kazakhstan Nepal Serbia Uzbekistan 
Brazil Fiji Kenya Netherlands Seychelles Vanuatu 
British Indian Ocean Territory Finland Kiribati Netherlands Antilles Sierra Leone Venezuela, Bolivarian Republic of 
Brunei Darussalam France Korea, Democratic People’s Republic of New Caledonia Singapore Viet Nam 
Bulgaria French Guiana Korea, Republic of New Zealand Sint Maarten (Dutch part) Virgin Islands, British 
Burkina Faso French Polynesia Kosovo Nicaragua Slovakia Virgin Islands, U.S. 
Burundi French Southern Territories Kuwait Niger Slovenia Wallis and Futuna 
Cambodia Gabon Kyrgyzstan Nigeria Solomon Islands Western Sahara 
Cameroon Gambia Lao People’s Democratic Republic Niue Somalia Yemen 
Canada Georgia Latvia Norfolk Island South Africa Zambia 
Cape Verde Germany Lebanon Northern Mariana Islands South Georgia and the South Sandwich Islands Zimbabwe 
Cayman Islands Ghana Lesotho Norway South Sudan  

Pros & Cons


  • The broker does not apply any deposit fees.
  • It offers the MetaTrader 4 platform.
  • Commission-free trading available.
  • PaxForex does not charge any type of inactivity fee.
  • It is available in hundreds of countries worldwide


  • Customer support is 24/5. The ideal is a 24/7 support.
  • It is necessary to make minimum deposits that will depend on the type of account.
  • PaxForex financial statements are not public.
  • It is not possible to trade bonds.
  • Does not offer a great depth of financial instruments.

Account Types

The broker offers you several types of accounts so that you have the possibility to choose the one that best suits your trading style and capital.

Cent Account

Designed for beginners who want to get an experience of real money trading with the lowest risks. Cent account is a perfect way to adjust your own trading strategy.

Mini Account

Designed for new traders. This account allows trading Forex without exposing clients to high risks.

Standard Account

This account is appropriate for experienced as well as professional traders with a distinctive knowledge of the financial markets. It has the lowest spreads to trade Forex, Gold and Silver.

VIP Account

It is designed for experienced and professional Forex traders who are ready to trade significant volumes. It has the lowest spreads to trade Forex, Gold, and Silver, plus direct access to a personal account manager, through phone, chat or email.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 PaxForex Fees

PaxForex does not apply any deposit fees. All fees are made by card processors or by electronic payment systems or providers.

Additionally, PaxForex does not charge any fees for the external transfer of funds from your accounts except for credit/debit card deposits, for which a 5.5% (min $10 USD) 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.

PaxForex does not charge any type of inactivity fee either. You can choose commission-free trading, although, as is always the case, asset prices will be subject to spreads. These spreads will depend on the type of account with which you decide to operate and are presented in the following table:

Min. Spread2.

As you can see, you can access fairly tight spreads with the Standard and VIP accounts, which helps this broker score high in terms of fees. However, PaxForex loses one point in this section because of the commission of 5.5% for credit/debit card deposits and withdrawals.

PaxForex Fees Score: 9/10

#2 Signup Process

You can open any of the accounts that PaxForex offers online. You must consider that you need to add personal information so that you can verify your account and use it with complete peace of mind.

In terms of proof of ID and proof of address, take into account that you must have some of the following documents on hand so that you can speed up the verification process:

  • Driver’s license
  • Identity card
  • A recent utility bill
    • Electricity
    • Gas
    • Water
    • Phone
  • Bank account statement

At PaxForex you must wait up to two days to manage your trading account, which is a long time compared to other brokers. Take into account that in the world of trading, time is money, therefore, the broker loses points in this category.

PaxForex Signup Process Score: 7/10

#3 Minimum Initial Deposit

The minimum initial deposit that PaxForex requires will depend on the type of account you decide to open. Below, we will show you the amount for each of the accounts offered by the broker.

Minimum deposit (USD)$10$100$2,000$10,000

Although there are high minimum initial deposits for some accounts, the broker is well qualified because it is possible to open an account with as little as $10 USD.

For your reference, in the following table you will see how much other brokers require as a minimum initial deposit:

BrokerMinimum initial deposit
Interactive Investor$0 USD
PrimeXBT$10 USD/ 0.001 BTC
Plus500$100 USD

PaxForex Minimum Initial Deposit Score: 10/10

#4 Ease of Use

PaxForex’s investment platform is Metatrader 4 (MT4). This is an easy to use investment platform and it’s also easy to understand. Also, MT4 offers you a simple and user-friendly interface with the following features:

  • Customizable view to putting any group of colours for every Forex chart.
  • Three major types of Forex charts (bars, candlesticks and line charts).
  • Nine timeframes.
  • More than 50 built-in indicators that help traders during the analyzing process.
  • Ability to use as many indicators on one chart.
  • Multiple chart setups.
  • Automated trading, and real-time data export via DDE protocol.
PaxForex MT4 - Online Forex Trading Platform

Although PaxForex’s investment platform is wonderful, the broker loses points due to the time that you will have to invest to learn how to comfortably use the investment platform.

PaxForex Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

PaxForex offers you enough funding methods so that you can choose the method with which you feel most comfortable. Also, as stated earlier, the broker does not apply any deposit fees. All fees, if any, are made by the card processor or by electronic payment systems.

Funds Deposit Options

Deposit MethodsDeposit TimeMinimum DepositFees
Neteller1 hour10 USD3.2% -3.7% + $0.29 min 1$
Bank Transfer3 – 5 working days100 USDBank commission
Credit / debit cards1 hour15 USDup to $299 3.75%-8.5% +$0.5 above $300 – 0%
Skrill / Moneybookers1 hour10 USD2.9% – 3.9% + 0.38 USD
Perfect Money1 hour10 USD0%
WebMoney1 hour10 USD0.8%
QIWI1 hour10 USD4%
FasaPay1 hour10 USD0.5%
BitcoinDuring 1 day0.01 BTC0%
EthereumDuring 1 day1 ETH0%

Funds Withdrawal Options

Withdrawal MethodsWithdrawal TimeMinimum WithdrawalFees
Bank TransferProcessed within 1 business day, however takes 4 to 7 business days for the funds to be credited to your bank account, depending on your Bank100 USDBank commission
Credit/ debit cardsProcessed by us within 1 business day but you receive the funds to your account in 5 to 15 business days depending on your Credit Card provider15 USD5,5% (Min 10 USD)
Skrill (Moneybookers)1 Working Day10 USDfrom 1% up to 3,9% + 0,35 USD
Neteller1 Working Day10 USD0%
WebMoney1 Working Day10 USD0.8%
Perfect Money1 Working Day10 USD2,50%
QIWI1 Working Day10 USD1%
FasaPay1 Working Day10 USD0.5%
Bitcoin1 Working Day10 USD4.6% + 0.0006 BTC
Ethereum1 Working Day10 USD4.6%

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 a withdrawal request was sent after 18:00 (GMT+3) of the current day, then it’ll be transferred to the next working day. Funds withdrawals are available only to account holders.

Also, money transfer to third parties is forbidden. The broker loses points because there are minimum amounts of deposits and withdrawal of funds from your account.

PaxForex Deposit & Withdrawal Options Score: 8/10

#6 Customer Support:

The PaxForex Customer Support Team is available 24-hours a day, 5 days a week. Also, you could receive customer support in several languages:

Bulgarian Finnish Korean Russian
 Chinese French Lithuanian Slovak
 Czech German Norwegian Slovenian
 Danish Hungarian Polish Spanish
 Dutch Italian Portuguese Swedish
 English Japanese Romanian Ukrainian
  • Live chat
  • Phone: +44 2035040303
  • FAX: +44(0)844 507 0446
  • e-Mail: [email protected]

Technical support offers you several ways to communicate with technical advisors in multiple languages. For this reason, PaxForex is well qualified in this category

PaxForex Customer Support Score: 10/10

#7 Asset Classes


In PaxForex you can trade shares of prominent companies in the US such as Apple, Cisco, Facebook, Intel, Exxon, etc.

Currency Pairs

You can buy currency pairs. For example, USD/JPY, EUR/GBP, EUR/USD, AUD/CHF, etc


You will be able to trade gold on the PaxForex investment platform.


You can trade cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.

Unfortunately, you will not be able to invest in bonds, ETFs and you can only invest in US stocks. Also, there are limitations when it comes to diversifying internationally because there are few financial instruments from other international markets. These factors reduce the diversification capacity of your portfolio. For all these reasons the broker loses many points in this category of our ranking.

Related: If you are interested in greater diversification, check out our reviews of Swissquote and Plus500. You will see that these brokers offer better alternatives in this category. Also, you can check out, which is our best-rated broker.

PaxForex Asset Classes Score: 3/10

#8 Referral Program

At this time PaxForex does not offer a referral program. For this reason, it is impossible to be able to assign points in this regard.

PaxForex Referral Program Score: 0/10

#9 Demo Account & Educational Resources

Demo Account

You can open a demo account in PaxForex. The demo account allows you to practice investment strategies exactly as you would in the real market. You’ll have access to the same statistics as if you were really trading.

That way, you’ll know for sure when you’ve hit a home run or when you strikeout. It also lets you get to know the platform to make trading more natural once you start for real. Please note that you can use the PaxForex demo account for as long as you want.

Educational Resources

For its part, the Educational Resources that you will find in PaxForex is average. You can access the following content within the web platform:

  • Education guides
  • Educational videos
  • Forex news
  • Daily trading analysis
  • Fundamental analysis
  • Economic calendar

While it is true that you can test the investment platform with a demo account, the educational resources that PaxForex offers are not extensive. In fact, there are other brokers like that offer you much more complete and varied educational resources. For this reason, the broker loses a couple of points.

PaxForex Demo Account & Educational Resources Score: 8/10

#10 Safety & Regulation

PaxForex is a trading name of Laino Group Limited which is registered by (FSA) Financial Services Authority in St.Vincent & the Grenadines. Registration Number: 21973 IBC 2014 1510.

While it is true that the broker is registered under a financial authority, there are other brokers such as, that are regulated by many more and much stronger financial authorities. This aspect is very important when making the best decision because it makes the broker reliable.

Related: For other brokers who rank highly in this category, check out Swissquote and Internaxx.

PaxForex Safety & Regulation Score: 6/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to, which scores 91/100 points across the 10 categories mentioned in this review.
PaxForex vs.

PaxForex vs.

Being a winning trader requires a solid investment plan. Take into account that the stock market is a world that is constantly changing and for this reason your strategies must adapt to the movements and innovations of the market. We recommend that you choose a broker that is your ally and that allows you to fully exploit your profits.

In this sense, this broker must allow you to diversify your portfolio internationally with the range of financial instruments that it offers and that also saves you hundreds of dollars in commissions. In this section, you will find a comparison between PaxForex and After an in-depth market study, we consider that your best ally is for the following reasons:

Quick and easy account opening

If you want to trade now without having to wait for days struggling to verify your trading account, we recommend you visit You can open your account and trade in less than 20 minutes.

The Best Investment options

PaxForex has a good number of financial instruments that you can invest in. However, offers you several more possibilities because on its investment platform you will be able to access a greater number of financial instruments. This feature is really important because with you will be able to have a greater capacity for diversification when building your investment portfolios. Has Referral Program

PaxForex does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, offers you a Referral Program that will allow you to earn 25 USD for each person you invite to invest in this wonderful investment platform.

In Summary

  • PaxForex is a broker founded in 2011 based in Saint Vincent and the Grenadines. Also, PaxForex is a trading name of Laino Group Limited which is registered by the Financial Services Authority (FSA).
  • PaxForex offers you several types of accounts so that you have the possibility to choose the one that best suits your trading style and capital.
  • The broker does not apply any deposit fees, all fees are made by card processor or by electronic payment systems.
  • You can open any of the accounts that PaxForex offers online.
  • PaxForex’s investment platform is Metatrader 4 (MT4).
  • PaxForex offers you enough funding methods so that you can choose the method with which you feel most comfortable.

PaxForex is a broker that does not have a relevant total rating. However, in our scoring system, it performs very well in terms of fees, minimum deposits, signup process and demo account. If you find this broker interesting, then you can click the button below for direct access to their site.

However, we believe that is a far superior broker that offers you many features that will allow you to fully exploit your profits. In fact, the broker has scored a 91/100 on our scoring system; This demonstrates the commitment and quality of Go ahead, make money!

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