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 Capital.com 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.
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!
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