PaxForex Broker

Company Ltd
Established in 2010
Online since 2011
International Offices British Virgin Islands, Russian Federation, United Kingdom
Payment Methods CashU, Credit/debit cards, Liberty Reserve, Moneybookers, OKPAY, Payza, Perfect Money, WebMoney, Wire transfer
Demo Accounts & Platforms MetaTrader 4
Account currencies Euro, United States Dollar
Regulated & Registered by
Are US Traders allowed?
Bonus? (detailed)
Languages in which website is available? English
Languages in which Support is available? English, Russian
Different Support methods? Call Back, Email, Live Chat, Phone, Skype
Types of Account (micro standard executive islamic) Micro, Standard, VIP
Minimum deposit in accounts $10
Minimum position size 0.01 lot
Type of Spread? Variable
Minimum spread on EUR/USD, pips 3 Pip
Is Scalping Allowed? Allowed
Types of Trading Instruments (GOLD; CFD, etc. and the leverage) Forex = 1:500
Real Trading platforms MetaTrader 4
Digits after the dot in quotes 5
Margin call level 10%
Stop-out level 5%
Total Number of currency pairs 25
Any Bonus offers Yes
Affiliate program Available? Yes
Facility of Overnight interest rates (swaps) Yes
Do they have Trailing stop? Yes
Do they have Pending orders? Yes
Mobile trading allowed? Yes
Browser-based platform present? Yes

paxforexLooking at the boom in the forex market many companies opened up to provide the traders the brokerage services. PaxForex is one of the many companies and was established in the year 2010. They, however, started their online trading service which is internet based in the year 2011. They have lucrative bonus offers which add to the fund of the trader. Time to time the company also conducts trading contests to keep the traders engaged in activities other than just trading forex. They also have affiliate programs, so traders can earn by referring their family, friends and acquaintances. They also provide the facility of placing the trade through telephone. Islamic accounts and overnight interest rates swaps are also available for Muslim traders who follow Islamic laws on trading. Other facilities include, trailing stops, pending orders, mobile trading and automated trading. They offer a host of payment options which makes deposit as well as withdrawal of fund an easy and hassle free affair.

The company is not a regulated one but still have a very tight internal security system. The trading platform used for both demo as well as real trading accounts is Meta Trader 4 which is the most used and trusted platform in the forex market. The company allows only United States Dollar and Euro as the account currencies and offers about 25 currency pairs to trade in and it includes all the major pairs. The website is available only in English whereas the customer support service is available in English as well as Russian. The support service is excellent and it can be availed using email, call back, live chat, phone and even Skype. They have three types of accounts for the traders, standard, micro and VIP and the minimum deposit required to open an account with them is only $10.

If you want to know the real service provided by the company then reading their reviews online is the best way. There are very good reviews for PaxForex and also have many satisfied customers which adds to its reliability. The most important feature liked by many traders is their various bonus offers and trading contests. The minimum deposit required to open an account with them is only $10 and is liked by many small traders. Their VIP account is loaded with features and is liked by many traders for the same reason. The customer support service though is available only in English and Russian is very supportive and responsive. Their mobile trading service is liked by many as it allows them to trade even when they are travelling. The use of scalping and Expert Advisor is allowed to the traders and the leverage on forex trading is 1:500. A few cons mentioned in the review is that their website is available only in English, they are not a regulated company and lack of PayPal as one of the payment options. However, the reviews are very positive and the average rating that is given to PaxForex by its users is 5.7 out of 10.

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