Company Overview
Here is a comprehensive overview of PaxForex. The information on the Russian version of the website lacks details such as the establishment year, management team, registration specifics, and licensing information.
Available Trading Instruments
- Currency pairs
- Stocks
- Precious metals
- Cryptocurrencies
For trading, it is advisable to utilize the MetaTrader4 platform.
Types of Trading Accounts
Even without registration, a demo account can be accessed. There are four primary account types distinguished by deposit requirements and functionalities.
Cent Account: Starting with a minimum deposit of $10. It offers a fixed spread of 2.4 points and a minimum lot of 0.0001.
Mini Account: Entry deposit is $100. The spread is 1.4 points with a minimum lot of 0.01.
Standard Account: An initial deposit of $2,000 is needed. It features a spread of 0.4 points and minimum lots starting from 0.1. This account allows trading in stocks.
VIP Account: Accessible with a minimum of $10,000. It parallels the standard account with a spread of 0.4 points, minimum lot of 0.1, and the option to trade stocks. Priority execution is assured.
Deposits and Withdrawals
Supported currencies include USD, EUR, GBP, CHF, and BTC. Various payment methods have specified minimum deposit amounts. Deposits via cards incur a 2.5% commission.
Withdrawal requests are processed on business days with an estimated completion period of one business day. Minimum withdrawal amounts are $10 for most payment systems, $15 for card withdrawals, and $100 for bank transfers.
Final Thoughts on PaxForex
The absence of a physical address, registration details, and regulatory information gives rise to uncertainties. It is advised to exercise caution when considering this brokerage service.
This review has been prepared by the specialists at ExpertsReview.
