PAXFOREX is a Forex and CFD brokerage that is registered in St. Vincent in the Grenadines. They offer the ability to trade the world’s markets in shares, Forex, spot metals, and even cryptocurrencies. They offer plenty of promotions, and a plethora of value added services.

Trading accounts

PAXFOREX offers four different trading accounts, including the Cent Account, Mini Account, Standard Account, and VIP Account. The Cent Account is for those traders looking to get involved in the markets with very little capital at risk, allowing for up to perfect their strategy with real money, with floating spreads. The Mini Account is slightly larger, with smaller spread. The Standard Account has a floating spread as well and offers extreme leverage. The VIP Account offers very little spread for those who are trading larger account. It should be noted that the Cent Account can be opened with as little as $10.00, while the Mini Account requires $100.00. The Standard Account requires $2000, and the VIP account can be opened with $10,000.

The company

PAXFOREX is a company that was formed by traders and dealers that worked for many of their major competitors. As a result they have a unique knowledge of what traders need. However, it does not appear that the company is regulated currently. However, when I spoke with them they suggested that they are in the process of being regulated in Belize.

Trading conditions

Initial deposit

The initial deposit at PAXFOREX will vary depending on the account that you choose to open. The Cent Account allows traders to get involved with as little of a deposit as $10, while the Mini Account requires just $100 to open, and the Standard Account just $2000. In order to qualify for the VIP Account, you will need to deposit $10000.

Spreads and conditions

PAXFOREX offers multiple markets to trade, so spreads can vary quite drastically. However, it also comes down to the account you choose. For example, with the Cent Account you can have floating spread from 2.4 pips. The Mini Account has a fixed spread from 1.8 pips. The Standard Account has a floating spread from 0.4 pips. The VIP Account obviously has minor spreads, offering the tightest spreads possible.

Leverage

Leverage at PAXFOREX goes as high as 1:200, depending on the account. Quite frankly, this is the large leverage that we are aware of and should be treated with care. For the Forex markets, the leverage is 1:200, while shares are traded at 1:4. The metals are traded at 1:100, and crypto is at 1:3.

Trading platforms

PAXFOREX uses the well-known MetaTrader ecosystem, using version 4. Traders around the world have been using this platform for years, and it is battle-tested. The ability to run robots and various others addons makes it a favorite.

Payment methods

PAXFOREX allows several different ways to fund and withdraw. This includes Visa/MasterCard, Neteller, Perfect Money, WebMoney, FasaPay, Bitcoin, Ethereum, and others.

Extras

PAXFOREX offers a bit of education, but quite frankly this isn’t the first place you look for information. There is fundamental analysis and trade recommendations, but the educational course is a bit sparse as it is just basically a glorified e-book. If you are looking for a place to learn more about the Forex markets, this probably isn’t it. However, if you already know what you are doing, then it should suffice quite nicely.