PXBT Forex Broker

Is PXBT Legit？

　　PXBT is officially licensed and offshore regulated by The Seychelles Financial Services Authority (FSA) under license number SD162.

What Can I Trade on PXBT？

　　When you open a brokerage account with PXBT, you've got three options for investing: forex, commodities and indices. Compared to other online brokerages, PXBT doesn't offer as many ways to invest. For example, if you want to trade cryptocurrency, stocks, or ETFs, you won't be able to do that here.

　　Whether this is a pro or con for you depends on your investment strategy. If you're a trader focused on forex and indices, for example, then you may be fine with PXBT. On the other hand, if you prefer a diversified portfolio to fit your risk tolerance, needs, and goals, other brokerages with more investment choices may be more suitable for you.

Account Types

　　PXBT offers one live trading account and a free demo account.

　　Some online brokerages tier their accounts. Tiers can be based on your balance or the features and benefits you enjoy. This can be an advantage if you're investing with a firm that charges an annual management fee. The higher your balance, the less you might pay. PXBT doesn't tier its accounts. But again, whether this is a pro or con for you depends on what you're looking for in an online brokerage.

PXBT Fees

　　Fees matter when building a portfolio. The more you pay in fees, the bigger the dent in your returns. Like some other brokerages specializing in forex trading, this firm offers spreads from 0.1 pips. They also provide a leverage option, which is up to 1:1000. This firm boasts zero fees and excellent trading conditions. However, there is no detailed information about commissions, annual fees, or minimum balance fees for brokerage accounts.

Trading Platform

　　MT5 (MetaTrader 5) is available with PXBT. You can apply it on multiple devices, including Windows, MAC, Android, and IOS. It is a diversified financial trading platform that allows trading foreign exchange, stocks, and futures. It provides automated trading systems and excellent tools for various price analyses, the use of algorithmic trading applications, and copy trading.

Customer Support Options

　　If there's something you need to do that you can't manage online or through the mobile app, you can try reaching out to PXBT's 24/7 customer support. You have multiple choices, including email (help@pxbt.com) and phone (+248 4 226 278).

The Bottom Line

　　PXBT could be an option if you're an active trader who's focused on forex, commodities, and indices. It provides excellent trading conditions and the trading platform is user-friendly. On the other hand, you might want to look elsewhere if you need a broader range of investment options or you want managed portfolios. The lack of transparency about trading fees is an obvious drawback and there are certain disadvantages of offshore regulated brokerages. Overall, it's important to compare individual brokerage with your investment goals and style to make sure they're a good match.

FAQs

　　Is PXBT safe？

　　PXBT is an offshore regulated brokerage firm. Offshore regulators often have less stringent rules compared to their onshore counterparts. It might be safer to choose brokers that are overseen by a top-tier and stringent regulator.

　　Is PXBT good for beginners？

　　Yes, PXBT could be an option for beginning investors with its user-friendly platform.

　　Does PXBT offer leveraged trading？

　　Yes, PXBT provides a leverage option, which is up to 1:1000.

Risk Warning

　　Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.