PaxForex
Company Information
A brief overview of PaxForex is presented below. On the Russian-language website, it is not possible to find the year of establishment, information about management, registration details, and license.
Tools
- currency pairs
- stocks
- precious metals
- cryptocurrencies
It is recommended to use the MetaTrader4 platform for trading.
Account Types
A demo account is available even without registration. There are four main types of accounts, differing in deposit size and functionality.
Cent Account: minimum deposit – $10. Fixed spread 2.4 points, minimum lot 0.0001.
Mini Account: requires a deposit from $100. Spread – 1.4 points, minimum lot – 0.01.
Standard Account: initial deposit – $2,000. Spread 0.4 points, lots from 0.1. This account allows trading stocks.
VIP Account: available from $10,000. Similar to the standard account, spread 0.4 points, lot 0.1, possibility of trading stocks. Priority execution is promised.
Deposits and Withdrawals
Supported currencies are USD, EUR, GBP, CHF, and BTC. Minimum amounts are set for various payments. The commission for depositing from cards is 2.5%.
Withdrawal requests are processed on business days, with a promised completion time of one business day. The minimum withdrawal amount for most payment systems is $10, for cards – $15, for bank transfers – $100.
Conclusions about PaxForex Company
The lack of a physical address, registration, and regulation raises questions. It is recommended to be cautious when choosing this broker.