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Popularity popular broker
Leverage 1:500
Minimum Deposit $10
Regulation VFSC
Payment Methods Credit Card, Bank Transfer, Skrill, Neteller, Bitcoin
Trading Assets Forex, Metals, Indices, Cryptocurrencies
Spreads Very low
Average cost: EUR/USD 0.4 pips
Demo Account
Islamic Account
Scalping Yes
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Inactivity Fee Yes
Year Established 2010
Address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines
Contact Information Email: [email protected], Phone: +44 203 514 7373, Live Chat available on website
Mobile Trading APP
Rating ★★★★☆ 4.5

Pros and Cons

  • Low minimum deposit requirement
  • Wide range of trading instruments
  • User-friendly MT4 platform
  • Very low spreads
  • Excellent customer support
  • Limited regulatory oversight
  • No MT5 platform
  • Inactivity fee applies
  • Limited educational resources
  • Higher leverage may pose risks


PaxForex is a well-established name in the forex trading industry, having been founded in 2010.

This broker offers a diverse range of trading instruments and platforms designed to cater to both novice and experienced users.

In this comprehensive review, we will explore various of its aspects, including its features, trading conditions, regulatory status, and customer support, among others.

By the end of this review, you will clearly understand whether this broker is the right choice for your trading needs.

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Company Overview

History and Background

Established in 2010 by a team of professional traders with extensive experience in the financial markets, PaxForex aims to provide a reliable and user-friendly trading environment.

The company’s mission is to enable users to achieve their financial goals through a robust trading infrastructure.

Over the years, it has grown significantly, establishing itself as a reputable broker in the industry.

Key Features

  • Wide Range of Trading Instruments: Offers a diverse range of instruments, including forex, metals, indices, and cryptocurrencies.
  • Competitive Spreads: Customers can benefit from very low spreads on major currency pairs.
  • Leverage: Up to 1:500 leverage, allowing clients to maximize their trading potential.
  • Multiple Account Types: Different account types to suit various trading styles and preferences.
  • User-Friendly Platforms: Access to the popular MetaTrader 4 (MT4) platform.

Trading Platforms

MetaTrader 4 (MT4)

PaxForex exclusively offers the MetaTrader 4 platform, widely regarded as one of the best trading platforms available.

MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators.

Here are some key features of the MT4 platform:

  • Advanced Charting: Comprehensive charting tools with multiple timeframes.
  • Expert Advisors (EAs): Support for automated trading strategies through Expert Advisors.
  • Customizable Interface: Clients can customize the platform to suit their trading style.
  • Mobile Trading: MT4 is available on both iOS and Android devices, allowing users to trade on the go.

Mobile Trading

In addition to the desktop platform, it offers a mobile trading app for both iOS and Android devices.

This app provides clients with the flexibility to monitor and execute trades from anywhere at any time.

The mobile app includes all the essential features of the desktop version, ensuring a seamless trading experience.

Account Types

PaxForex offers several account types to cater to different trading needs and preferences.

Each account type comes with its set of features and benefits.

Here is an overview of the available account types:

Cent Account

  • Minimum Deposit: $10
  • Leverage: Up to 1:500
  • Spreads: From 2.4 pips
  • Suitable For: Beginners and small-scale users

Mini Account

  • Minimum Deposit: $100
  • Leverage: Up to 1:500
  • Spreads: From 2.0 pips
  • Suitable For: Intermediate clients

Standard Account

  • Minimum Deposit: $2000
  • Leverage: Up to 1:500
  • Spreads: From 1.4 pips
  • Suitable For: Experienced traders

VIP Account

  • Minimum Deposit: $10,000
  • Leverage: Up to 1:500
  • Spreads: From 0.4 pips
  • Suitable For: High-volume investors

Trading Conditions

Spreads and Commissions

PaxForex offers very competitive spreads, especially for major currency pairs.

The spreads vary depending on the account type and market conditions.

For example, the spreads on a standard account for the EUR/USD pair start from 1.4 pips.

Additionally, there are no commissions charged on trades, which is a significant advantage for clients.


One of its key features is its high leverage offering of up to 1:500.

This allows users to control larger positions with a relatively small amount of capital.

However, it’s important to use leverage wisely, as it can amplify both gains and losses.

Order Execution

PaxForex ensures fast and reliable order execution with minimal slippage.

The broker uses advanced technology to provide clients with the best possible execution speeds, which is crucial in fast-moving markets.

Comparison Table of Account Types

Account Type

Minimum Deposit



Suitable For

Cent Account


Up to 1:500

From 2.4 pips

Beginners and small-scale users

Mini Account


Up to 1:500

From 2.0 pips

Intermediate clients

Standard Account


Up to 1:500

From 1.4 pips

Experienced users

VIP Account


Up to 1:500

From 0.4 pips

High-volume investors

Get up to 100% deposit bonus

Regulation and Security

Regulatory Status

The company is registered and regulated by the Vanuatu Financial Services Commission (VFSC).

While VFSC regulation may not be as stringent as that of some other regulatory bodies, it does provide a level of oversight and security for users.

The broker adheres to international standards and best practices to ensure a safe trading environment.

Security of Funds

This company takes the security of its clients’ funds seriously.

The broker uses segregated accounts to ensure that client funds are kept separate from the company’s operating funds.

This provides an additional layer of protection in the unlikely event of  insolvency.

Negative Balance Protection

PaxForex offers negative balance protection, which ensures that clients cannot lose more than their initial deposit.

This is a crucial feature that protects clients from significant losses in volatile market conditions.

Customer Support

Availability and Contact Methods

PaxForex offers excellent customer support, available 24/5 to assist clients with any queries or issues.

Clients can contact the support team via:

Support Quality

Their customer support team is known for its responsiveness and professionalism.

Whether you have a question about account opening, trading conditions, or technical difficulties, the support team is always ready to help.

Payment Methods

PaxForex offers many payment methods to cater to the diverse needs of its clients.

Here are the available payment methods:

  • Credit/Debit Cards: Visa, MasterCard
  • Bank Transfer: Local and international transfers
  • E-Wallets: Skrill, Neteller
  • Cryptocurrencies: Bitcoin

Deposit and Withdrawal Process

Deposits and withdrawals are straightforward and typically processed within 24 hours.

The broker does not charge any fees for deposits, and most withdrawal methods are also free of charge.

However, it’s essential to check with your payment provider, as they may impose their fees.

Detailed Table of Payment Methods

Payment Method


Fees Charged by PaxForex

Processing Time

Credit/Debit Cards

Visa, MasterCard



Bank Transfer

Local, International


1-3 business days


Skrill, Neteller







Educational Resources

PaxForex provides a range of educational resources to help clients improve their trading skills and knowledge.

These resources include:


Regular webinars covering various trading topics are conducted by industry experts.

These webinars are an excellent way for clients to gain insights and learn new strategies.

Tutorials and Articles

Their website features a comprehensive library of tutorials and articles on forex trading.

These resources are beneficial for both beginners and experienced traders.

Economic Calendar

It also offers an economic calendar that provides information on upcoming economic events and releases.

This tool is essential for users to stay informed about market-moving events.

Detailed Educational Resource Table

Resource Type




Industry experts cover various trading topics

Regularly available

Tutorials and Articles

Comprehensive library on forex trading


Economic Calendar

Information on upcoming economic events


Trading Tools

Technical Analysis Tools

This broker offers more than 100 technical analysis tools to help clients make informed trading decisions.

These tools include:

  • Charting Tools: Advanced charting tools with multiple indicators and drawing tools.
  • Market News: Real-time market news updates to keep users informed about market developments.
  • Trading Signals: Access to trading signals that provide potential trading opportunities.

Copy Trading

PaxForex offers a copy trading service that allows clients to copy the trades of experienced traders.

This feature is particularly beneficial for beginners who want to learn from successful investors and potentially earn profits without extensive market knowledge.

Detailed Table of Trading Tools

Tool Type



Charting Tools

Advanced tools with multiple indicators

Informed trading decisions

Market News

Real-time updates

Stay informed

Trading Signals

Access to potential trading opportunities

Profit potential

Copy Trading

Copy trades of experienced investors

Learn and earn

Trading Assets

Their platform provides access to a wide range of trading instruments, allowing investors to diversify their portfolios.

Here are some of the available trading assets:

  • Forex: Major, minor, and exotic currency pairs
  • Metals: Gold, silver
  • Indices: Major global indices such as the S&P 500, Dow Jones, and FTSE 100
  • Cryptocurrencies: Bitcoin, Ethereum, Litecoin

Detailed Table of Trading Assets

Asset Class




Major, minor, exotic pairs

Diversification opportunities


Gold, silver

Safe haven assets


S&P 500, Dow Jones, FTSE 100

Broad market exposure


Bitcoin, Ethereum, Litecoin

High volatility opportunities

Market Research

PaxForex offers robust market research to help users stay informed and make better trading decisions.

The research tools and resources include:

Daily Market Analysis

It also provides daily market analysis, covering major currency pairs, commodities, and indices.

This analysis includes technical and fundamental insights, helping users understand market trends and potential trading opportunities.

Market Insights

The broker also offers market insights from experienced analysts.

These insights provide clients with valuable information on market conditions, trading strategies, and economic events.

Detailed Market Research Table

Research Type



Daily Market Analysis

Technical and fundamental insights

Understand market trends

Market Insights

Information from experienced analysts

Strategic trading decisions

Awards and Recognition

Over the years, the company has received several awards and accolades, highlighting its commitment to providing excellent trading services.

Some notable awards include:

  • Best Forex Broker: Recognized for its outstanding forex trading services.
  • Best Customer Service: Awarded for its exceptional customer support.

Detailed Awards Table

Award Name



Best Forex Broker

Outstanding forex trading services


Best Client Service

Exceptional support


User Experience

Account Opening Process

Opening an account is a straightforward process that can be completed online in a few minutes.

Here are the steps to open an account:

  1. Registration: Fill out the online registration form with your personal details.
  2. Verification: Submit the required documents for identity verification.
  3. Funding: Deposit funds into your trading account using one of the available payment methods.
  4. Start Trading: Once your account is funded, you can start trading on the MT4 platform.

Trading Experience

PaxForex provides a seamless trading experience with its user-friendly MT4 platform, competitive trading conditions, and efficient support.

Users can enjoy fast order execution, low spreads, and access to a wide range of trading instruments.

Performance and Reliability

The broker’s platform performance and reliability are top-notch.

The MT4 platform is known for its stability and robustness, ensuring that customers can execute their trades without any issues.

The company also invests in advanced technology to ensure fast and reliable order execution.

Detailed User Experience Table

Experience Aspect



Account Opening

Easy online process

Quick and convenient

Trading Experience

User-friendly MT4 platform

Seamless trading


Stable and robust platform

Reliable order execution


PaxForex is a reputable broker that offers a wide range of trading instruments, competitive trading conditions, and excellent customer support.

Its user-friendly MT4 platform, low minimum deposit requirements, and high leverage options make it an attractive choice for people of all levels.

While the regulatory oversight may not be as stringent as some other brokers, it ensures a secure trading environment with segregated client funds and negative balance protection.

Overall, PaxForex is a solid choice for clients looking for a reliable and efficient trading partner.

Key Takeaways

  • Diverse Trading Instruments: Forex, metals, indices, and cryptocurrencies.
  • User-Friendly MT4 Platform: Available on desktop and mobile.
  • Competitive Spreads and High Leverage: Low spreads and leverage up to 1:500.
  • Exceptional Customer Support: 24/5 support via email, phone, and live chat.
  • Educational Resources: Webinars, tutorials, and market analysis.

In conclusion, PaxForex provides a comprehensive and user-friendly trading experience, making it a suitable choice for traders seeking a reliable and efficient company.

Whether you are a beginner or an experienced investor, this broker offers the tools and resources needed to succeed in the financial markets.

Visit official website:

User Reviews

“PaxForex has been a reliable broker for me over the past year. The customer support is always available and helpful, which makes a huge difference. The MT4 platform is very intuitive, and I’ve had no issues with transactions. Overall, a great experience.”
John Smith
“I started trading with PaxForex six months ago, and so far, it’s been smooth sailing. The spreads are really competitive, and I love the variety of trading instruments available. The only downside is the inactivity fee, but as long as you stay active, it’s not a problem.”
Jane Doe
“PaxForex offers a good range of payment methods, which I find very convenient. The leverage options are also quite flexible, though they can be risky if not managed properly. Customer service has been prompt and effective in addressing my concerns.”
Alice Johnson
“I appreciate their low minimum deposit, which made it easy for me to start trading. The platform is user-friendly, and I haven’t faced any major issues so far. However, I do wish they offered more educational resources for beginners.”
Michael Brown
“I’ve been using PaxForex for over a year now, and my experience has been mostly positive. The trading conditions are favorable, and the support team is quite responsive. The only con is the lack of an MT5 platform, but MT4 works just fine for my needs.”
Emily Wilson

Frequently Asked Questions (FAQ)

What is the minimum deposit required to open an account?

The minimum deposit required to open an account is $10.

Is PaxForex regulated?

Yes, the company is regulated by the VFSC.

What trading platforms does it offer?

PaxForex offers the MetaTrader 4 (MT4) platform for trading.

Are there any inactivity fees?

Yes, PaxForex charges an inactivity fee if there is no trading activity for a specified period.

Does it offer a demo account?

Yes, this broker provides a demo account for traders to practice and familiarize themselves with the platform.

Can I trade cryptocurrencies?

Yes, PaxForex allows trading in cryptocurrencies along with other assets like Forex, metals, and indices.

What payment methods are accepted?

This broker accepts various payment methods including Credit Card, Bank Transfer, Skrill, Neteller, and Bitcoin.


      Our experts

      This article has been written, edited and reviewed by the following members of our team:


      Feng Zhou

      Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.


      Sandro Pontedra

      Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.


      Stephane Dubois

      Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

      Last update: June 2, 2024