PaxForex Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-09 18:35

Abstract：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.

PaxForexReview Summary
Founded	2014-05-16
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	Unregulated
Market Instruments	Forex/Stocks/Indices/Spot Metals
Demo Account	✅
Leverage	1:500
Spread	From 0.4 pips
Trading Platform	Allpips(Web)/MT4(PC/Mobile/PDA/Smartphone)
Min Deposit	$10
Customer Support	Phone: +44 2035040303
	FAX: +44(0)844 507 0446
	E-Mail: info@paxforex.org
	Facebook, Twitter, LinkedIn, Instagram, Telegram, YouTube
	24/5 live chat

PaxForex 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 Cons

Pros	Cons
24/5 live chat	Unregulated
Demo account available	No 24/7 customer support
MT4 available
Spread as low as 0.4 pips
Island accounts available

Is 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	Cent	Mini	Standard	VIP
Minimum Deposit	$10	$10	$2000	$10000
Min. Spread	2.4	1.4	0.4	0.4
Min. Lot size	0.01	0.01	0.01	0.01
Maximum Leverage	1:500	1:500	1:500	1:500
Stop out	20%	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 Platform	Supported	Available Devices
Allpips	✔	Web
MT4	✔	PC/Mobile/PDA/Smartphone

Deposit 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 Methods	Deposit Time	Min Deposit	Fees
Neteller	1hour	10 USD	3.2%-3.7%+0.29 USD min $1
Skrill / Moneybookers	1hour	10 USD	2.9%-3.9%+0.38 USD

Withdrawal Methods	Withdrawal Time	Min Withdrawal	Fees
Credit/ debit cards	1 business day(traders also receive 5-15 business days for the funds to traders' accounts	15 USD	5.5%(Min 10 USD)
Skrill(Moneybookers)	1 Working Day	10 USD	1%-3.9%+0.35 USD
Neteller	1 Working Day	10 USD	0%