PaxForex: Fast Execution With A Multilanguage Support

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

Pros

• 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

Cons

• 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.

#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:

	Cent	Mini	Standard	VIP
Min. Spread	2.4	1.4	0.4	0.4

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.

	Cent	Mini	Standard	VIP
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:

Broker	Minimum initial deposit
Interactive Investor	$0 USD
XM	$5 USD
Capital.com	$20 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.

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 Methods	Deposit Time	Minimum Deposit	Fees
Neteller	1 hour	10 USD	3.2% -3.7% + $0.29 min 1$
Bank Transfer	3 – 5 working days	100 USD	Bank commission
Credit / debit cards	1 hour	15 USD	up to $299 3.75%-8.5% +$0.5 above $300 – 0%
Skrill / Moneybookers	1 hour	10 USD	2.9% – 3.9% + 0.38 USD
Perfect Money	1 hour	10 USD	0%
WebMoney	1 hour	10 USD	0.8%
QIWI	1 hour	10 USD	4%
FasaPay	1 hour	10 USD	0.5%
Bitcoin	During 1 day	0.01 BTC	0%
Ethereum	During 1 day	1 ETH	0%

Funds Withdrawal Options

Withdrawal Methods	Withdrawal Time	Minimum Withdrawal	Fees
Bank Transfer	Processed within 1 business day, however takes 4 to 7 business days for the funds to be credited to your bank account, depending on your Bank	100 USD	Bank commission
Credit/ debit cards	Processed 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 provider	15 USD	5,5% (Min 10 USD)
Skrill (Moneybookers)	1 Working Day	10 USD	from 1% up to 3,9% + 0,35 USD
Neteller	1 Working Day	10 USD	0%
WebMoney	1 Working Day	10 USD	0.8%
Perfect Money	1 Working Day	10 USD	2,50%
QIWI	1 Working Day	10 USD	1%
FasaPay	1 Working Day	10 USD	0.5%
Bitcoin	1 Working Day	10 USD	4.6% + 0.0006 BTC
Ethereum	1 Working Day	10 USD	4.6%

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: info@paxforex.com

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

Stocks

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

Gold

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

Crypto

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 Capital.com, 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 Capital.com 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 Capital.com, 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

PaxForex vs. Capital.com

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 Capital.com. After an in-depth market study, we consider that your best ally is Capital.com 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 Capital.com. 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, Capital.com 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 Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.

Capital.com 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, Capital.com 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 Capital.com 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 Capital.com. Go ahead, make money!