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Rating Index

Pros

Regulated by the Cyprus Securities and Exchange Commission (CySEC), providing a level of trust and security for clients.

Offers a range of account types, catering to different trading needs and initial investment levels.

Supports both MetaTrader 4 and MetaTrader 5 platforms, allowing users to choose based on their preferences and trading strategies.

Cons

High minimum deposit requirement of $500, which may be prohibitive for beginner traders.

Variable spreads starting at 1.6 pips, which are not competitive compared to other brokers in the market.

Acts as a market maker, which may lead to potential conflicts of interest in trade execution.

CBforex broker Accounts

PaxForex Account Types

PaxForex offers a variety of forex trading account types to cater to different trading styles and experience levels. The primary account types include:

Fiat Account:

Minimum Deposit: $100
Minimum Spread: 0.4 pips
Max Leverage: 1:500
Minimum Lot Size: 0.01
Recommended Deposit: $2000

Cent Pro Account:

Minimum Deposit: $25
Minimum Spread: 0.4 pips
Max Leverage: 1:500
Minimum Lot Size: 0.0001
Recommended Deposit: $500

Islamic Forex Account:

Swap-Free: Available upon request for Muslim clients.
Financing Charges: Based on the asset traded and amount of lots, not on interest rates.

Each account type provides full access to the trading platform, including unlimited charts, technical indicators, and automated trading features.

PaxForex Broker Account Opening Process

Opening an account with PaxForex involves a straightforward process:

Choose an Account Type: Decide which account type suits your trading needs (Fiat, Cent Pro, or Islamic).
Fill Out Registration Form: Complete the online registration form with personal details such as name, address, email, and phone number.
Verify Your Identity: Submit necessary documents for identity verification, like a government-issued ID and proof of address.
Fund Your Account: Deposit the required minimum amount via credit/debit card, bank transfer, or e-wallet.
Download Trading Platform: After funding your account, download the trading platform to start trading.
Start Trading: Familiarize yourself with the platform and begin trading in the forex market.