PaxForex Review

ForexMinute brings you an exclusive review of PaxForex, a renowned forex brokerage firm that entered the markets only a few years back, but is yet considered one of the most reliable firms in the sector. Let’s learn more about them:

Introduction

With offices United Kingdom, British Virgin Islands, and Russian Federation, PaxForex is quite a seasoned name among the Eurasian currency traders communities. Compared to its competition, this firm is quite young but is hailed as among the only companies that keep adding new range of services to its basket. Here is a tabular detail to understand them better:

Created : 2010
Headquarters : British Virgin Island
United Kingdom :
Russian Federation :
Website : www.paxforex.com
Maximum Account Size : No Limit
Minimum Account Size : $10
Leverage : 1:1-1:500
Minimum Lot : 0.01
Spread : 0.3 points
Margin Call/Stop : 10%/5%
Deposit Methods : CashU, FasaPay, Neteller, OKPAY, Perfect Money, WebMoney, Bank Transfer, Credit Cards, Skrill, Qiwi
Withdrawal Options : CashU, FasaPay, Neteller, OKPAY, Perfect Money, WebMoney, Bank Transfer, Credit Cards, Skrill, Qiwi
Account Types : Mini, Standard and VIP, Fix
Demo Account : Yes (for unlimited time)
Mobile Application : Yes (Android/iOS/Windows)
Automated Trading : Yes
Hedging : Yes
Swaps on Open Positions : Yes
Trading Features : Forex, CFDs, spot metals
Available languages : English, Russian, Portuguese, Chinese, Arabic, Thai, Lao

 

Trading Platform

Unlike its competitors, PaxForex doesn’t offer an option of a privatized forex trading platform but relies on the award winning Meta Trade 4 to do the work. It doesn’t matter though, for the said trading platform caters all the basic to advanced requirements of the traders. It is equipped with every possible tool — user friendly interface, different types of forex charts views, multiple timeframes, and other features — to enable trades have an easy trading experience. This workspace guarantees comfort by managing a wide range of financial and trading activities with speed and consistency.

Account Types

 

Opening account at PaxForex is really quick and easy, without needing to fill out numerous forms and submitting large set of documents. It only take minutes for you to launch your trading experience with PaxForex, and it comes in three separate kinds as well. Here are the details:

Mini Account

Minimum Account Size : $10
Minimum Lot Size : 0.01
Type Spread : Variable
Average spread on EUR/USD : 2
Minimum spread on EUR/USD : 1,5
Scalping : Allowed
Automated trading (Expert Advisors) : Allowed
Maximum Leverage : 1:500 on Forex
Trading Platforms : MetaTrader 4
Decimal : 5
Margin Call Level : 10%
Stop Level : 5%
Number of Currency Pairs : 25

 

Standard Account

Minimum Account Size : $2,000
Minimum Lot Size : 0.1
Type Spread : Variable
Average spread on EUR/USD : 1
Minimum spread on EUR/USD : 0,3
Scalping : Allowed
Automated trading (Expert Advisors) : Allowed
Maximum Leverage : 1:500 on Forex, 1:100 on Gold and Silver
Trading Platforms : MetaTrader 4
Decimal : 5
Margin Call Level : 10%
Stop Level : 5%
Number of Currency Pairs : 27

VIP Account

Minimum Account Size : $10,000
Minimum Lot Size : 0.1 of the lot
Type Spread : Variable
Average spread on EUR/USD : 0.8
Minimum spread on EUR/USD : 0.3
Scalping : Allowed
Automated trading (Expert Advisors) : Allowed
Maximum Leverage : 1:500 on Forex, 1:100 on Gold and Silver
Trading Platforms : MetaTrader 4
Decimal : 5
Margin Call Level : 10%
Stop Level : 5%
Number of Currency Pairs : 27

 

Bonus

 

PaxForex’s deposit bonuses are very popular with traders. Thanks to a deposit bonus, a trader is able to trade an amount exceeding its own investment — up to 100%. Of course, each has its own bonus conditions and PaxForex, in this case, is no exception. But if you read the terms, you will understand that they are very real, feasible and comfortable.

 

Conclusion

 

PaxForex has genuinely emerged as one of the most stable, safe and reliable offshore forex brokers to us. It is always addressing even the pettiest issues in a most concerned manner, showing an extensive cooperation irrespective of the geographical diversities. Other than that, the company is registered by area-specific authorities, ensuring the safety of traders’ funds under a well defined legal framework.

 

What is further impressive about PaxForex is its relying on large investors. Not only it ensures stability and security for the customers, but it also guarantees utmost liquidity to meet its obligations. The firm further provides trading recommendations to its customers to ensure they make decent profits with a minimum risk profile.