PaxForex Forex Broker

PaxForexReview SummaryFounded2014-05-16Registered Country/RegionSaint Vincent and the GrenadinesRegulationUnregulatedMarket InstrumentsForex/Stocks/Indices/Spot MetalsDemo Account✅Leverage1:500SpreadFrom 0.4 pipsTrading PlatformAllpips(Web)/MT4(PC/Mobile/PDA/Smartphone)Min Deposit$10Customer SupportPhone: +44 2035040303FAX: +44(0)844 507 0446E-Mail: info@paxforex.orgFacebook, Twitter, LinkedIn, Instagram, Telegram, YouTube24/5 live chatPaxForex Information PaxForex is a forex broker registered in Saint Vincent and the Grenadines. The tradable instruments include forex, stocks, indices, and spot metals. The broker also provides demo and island accounts. The minimum spread is from 0.4 pips and the minimum deposit is $10. PaxForex is still risky due to its unregulated status.Pros and ConsPros Cons 24/5 live chatUnregulatedDemo account availableNo 24/7 customer supportMT4 availableSpread as low as 0.4 pipsIsland accounts availableIs PaxForex Legit? PaxForex is not regulated, making it less safe than regulated brokers.What Can I Trade on PaxForex? PaxForex offers a wide range of market instruments, including forex, stocks, indices, and spot metals.Tradable Instruments Supported Forex✔Indices✔Stocks✔Spot Metals✔Shares❌ETFs❌Bonds❌Mutual Funds❌Account Type PaxForex provides various account types with different minimum deposits and spreads: Cent, Mini, Standard, and VIP. Traders who want low spreads and a sufficient budget can choose a VIP account. In addition, the demo account is predominantly used for familiarizing traders with the trading platform and for educational purposes only. The broker also provides the island account without swap fees for Muslim beliefs.Account Type CentMiniStandardVIPMinimum Deposit$10$10$2000$10000Min. Spread2.41.40.40.4Min. Lot size0.010.010.010.01Maximum Leverage1:5001:5001:5001:500Stop out20%5%5%5%PaxForex Fees The spread is from 0.4 pips. The lower the spread, the faster the liquidity.Leverage The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.Trading Platform PaxForex cooperates with the Web of Allpips and MT4 available on PC, Mobile, PDA, and Smartphone. MT4 not only provides various trading strategies but also implements EA systems.Trading PlatformSupported Available Devices Allpips✔WebMT4✔PC/Mobile/PDA/SmartphoneDeposit and Withdrawal The minimum deposit is $10. PaxForex accepts Neteller, Skrill / Moneybookers, and Nether for deposit and withdrawal. The Withdrawal process time is 1 business day as well as 5-15 business days for the funds to traders' accounts. The fees are from 0%.Deposit MethodsDeposit Time Min DepositFeesNeteller1hour10 USD3.2%-3.7%+0.29 USD min $1Skrill / Moneybookers1hour10 USD2.9%-3.9%+0.38 USDWithdrawal MethodsWithdrawal Time Min Withdrawal FeesCredit/ debit cards1 business day(traders also receive 5-15 business days for the funds to traders' accounts15 USD5.5%(Min 10 USD)Skrill(Moneybookers)1 Working Day10 USD1%-3.9%+0.35 USDNeteller1 Working Day10 USD0%Bonus Deposit $1200 or more and PaxForex will match your deposit with bonus money. Loyal Deposit Bonus 100%.