PaxForex-Some important Details about This Broker

General Information & Regulation

PaxForex, founded in 2011, is an online Forex broker domiciled in Saint Vincent and the Grenadines. It has been verified that PaxForex is not subject to any regulation. Please be aware of the risk.

Market Instruments

PaxForex offers traders the opportunity to trade currency pairs, gold and silver, stocks and indices in the financial market.

Minimum Deposit

PaxForex offers traders a wide choice of accounts. The Cent account is designed for newcomers who want to experience trading with real money with the least risk. It requires a minimum deposit of only $10 to start but recommends that $100 be deposited. This account is with USD only.

Leverage

When it comes to trading leverage, the maximum leverage offered by PaxForex is relatively high, reaching up to 1:500. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

Spreads differ depending on various trading accounts. The minimum spread for the Cent account start from 3.0 pips, 1.8 pips in the Mini account, 0.3 pip in the Standard account, with the minimum spread in the Fix account at 2 pips, and from 0.3 pip in the VIP account.

Trading platform Available

PaxForex uses the popular MT4 platform in web and mobile forms. The platform offers all the benefits of the MetaTrader4 and it accommodates demo accounts as well. The VPS service is also provided, with a fee of $25 per month.

Deposit & Withdrawal

Deposits to traders accounts can be made using bank transfers, credit cards, WebMoney, Neteller, Skrill, Perfect money and other online wallets. Only in USD, EUR, GBP and CHF deposits are accepted. PaxForex does not charge any fees for the external transfer of funds to a Forex account except for Credit/Debit Card deposits, and if used, a 2.5% charge is applied to cover a portion of the total charges made by the card processors involved in the transactions.

Customer Support

The PaxForex Customer Support Team is available 24-hours a day, 5 days a week via Live Chat, Skype, Email, Call Back Request and Telephone.