PaxForex Forex Broker keeps up-to-date with the latest trading account information, including Cent Pro, Fiat maximum leverage of 1:500, trading varieties, and more
Rating Index
Pros
Low minimum deposit requirement starting at $10, making it accessible for beginner traders.
Offers high leverage of up to 500:1, which can be attractive for traders looking to maximize their potential returns.
Provides a variety of trading platforms, including MetaTrader 4, and supports multiple account types to cater to different trading needs.
Cons
Regulated by a relatively weaker authority (SVG FSA), which may raise concerns about investor protection compared to brokers regulated by more stringent agencies.
Customer complaints regarding slow withdrawal processes and difficulties in accessing funds, leading to potential trust issues.
Some users have reported high spreads and execution delays, especially on lower-tier accounts, which may affect trading performance.
PaxForex broker Accounts
Cent Pro
Fiat
PaxForex Account Types
PaxForex offers a variety of trading account types to cater to different trading styles and experience levels. The available accounts include:
- Cent Account
- Minimum Deposit: $10
- Minimum Spread: 2.4 pips
- Max Leverage: 1:500
- Minimum Lot Size: 0.0001 (1 lot = 1,000 units)
- Stop Out Level: 20%
- Islamic Account Option: No
- Mini Account
- Minimum Deposit: $100
- Minimum Spread: 1.4 pips
- Max Leverage: 1:500
- Minimum Lot Size: 0.01 (1 lot = 100,000 units)
- Stop Out Level: 5%
- Islamic Account Option: Yes
- Standard Account
- Minimum Deposit: $2,000
- Minimum Spread: 0.4 pips
- Max Leverage: 1:500
- Minimum Lot Size: 0.01 (1 lot = 100,000 units)
- Stop Out Level: 5%
- Islamic Account Option: Yes
- VIP Account
- Minimum Deposit: $10,000
- Minimum Spread: 0.4 pips
- Max Leverage: 1:500
- Minimum Lot Size: 0.01 (1 lot = 100,000 units)
- Stop Out Level: 5%
- Islamic Account Option: Yes
- Additional Features: Personal account manager and free VPS service.
Visit the Account Opening Page: Go to the PaxForex official website and click on the "Open Trading Account" button.
Fill in Required Fields: Complete the online registration form with your personal information.
Enter SMS Activation Code: You will receive an SMS with a code to confirm your phone number.
Email Confirmation: Check your email for a confirmation link and click it to validate your email address.
Choose Your Account Type: Select from the available account types (Cent, Mini, Standard, VIP) based on your trading needs.
Document Submission: Upload the required documents for account verification, including a color scan of your identification (passport or national ID) and proof of address.
Make a Deposit: After your account is verified, log in to your client area, navigate to the "Deposit Funds" section, and choose your preferred deposit method.
Start Trading: Once your funds are credited to your account, you can begin trading on the PaxForex platform.
PaxForex Broker Account Opening Process
Opening an account with PaxForex is a straightforward process that can be completed in a few simple steps:
For more detailed information on account types and the opening process, visit the official PaxForex website.
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