PaxForex Broker Review: Customer Feedback on Cooperation
Review of the broker “PaxForex”: client opinions on cooperation
“PaxForex” – is a brokerage company providing trading and investment services in the Forex market. Founded in 2011, the company is based in an offshore zone. As of today, “PaxForex” offers its services to clients worldwide. The official website is available in 7 languages, including English and Russian.
Location and Licensing
The company is registered in an offshore zone, in Saint Vincent and the Grenadines. Financial activities are not subject to external control, and the company does not have a license. This may entail some risks, as it cannot guarantee the complete honesty of the company by 100%.
Ownership and Offices
The company is owned by Laino Group Limited. The main office is located at: 1825, Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines. An additional office is located in London, where technical support for the website is provided. The “PaxForex” team consists of experienced traders and investors.
Registration on the website paxforex.com
To register, you need to go to the main page and click on “Registration”. After filling in personal data and passing verification, you will have access to all the functional features of the platform. The verification process may seem complicated to some clients.
Account Funding
The company offers various methods of account funding, including electronic payment systems, cryptocurrencies, and bank cards. The minimum deposit amount is $10.
Trading Accounts
Several types of accounts are presented on the website, from “Mini” to “VIP”, each with its own features and conditions.
Platform and Assets
Clients have access to the MetaTrader 4 trading terminal with over 100 different assets. The company provides a demo account for practicing strategies.
Referral Programs
The company offers various options for referral programs for clients.
Withdrawal of Funds
To withdraw funds, you need to fill out a form in your personal account. The withdrawal process may take up to one day, but some clients complain about issues in this process.
Client Opinions
Client reviews of “PaxForex” are mostly negative, mentioning issues with fraud and technical support. Most positive reviews are likely to be paid for.
Advantages and Disadvantages
Pros:
- No commissions on deposits/withdrawals
- Stocks and special offers
- Minimum deposit
- Trading platform MT4
Cons:
- Unregulated
- Problematic technical support
- Negative reputation
- Offshore registration
- Small selection of cryptocurrencies
Author: Pavel Nekhoroshkov
Also read: Review and feedback on Citypoint Trading.