This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
PaxForex Review
PaxForex was an offshore forex broker whose paxforex.com site was seized by US authorities in 2021, and its backup site does not load today.
Min Deposit
$10
Spreads From
Was about 0.3 pips on the Standard account
Max Leverage
Was up to 1:500
Platforms
MetaTrader 4
Pros
- Let new traders open a cent account with only $10 to start
- Used the widely known MetaTrader 4 platform for trading
- Charged no broker fee for withdrawals, only card processor costs
- Operated for more than a decade before its current shutdown signs
Cons
- Banned for life by the US CFTC and fined $374,864 in 2021
- Original paxforex.com domain was seized by US authorities
- Independent tracker EarnForex lists it as out of business today
- WikiFX classifies it as a fake, high risk broker overall
- Never held a genuine license from any real financial regulator
- Traders reported forced trade closures and slow withdrawals
PaxForex was an online forex and CFD broker run by Laino Group Limited, registered in Saint Vincent and the Grenadines. It began trading around 2011 and offered forex pairs, gold, silver, stock CFDs, and crypto CFDs on MetaTrader 4. A cent account could open from just $10.
The broker never held a license from a real financial regulator. In 2020, the US CFTC sued Laino Group for letting clients trade crypto and metals without registering as a futures dealer. A Texas court entered a permanent trading ban in 2021 and a fine of $374,864. US agents then seized the paxforex.com domain, and the company moved to paxforex.org.
As of this review, BestForex.io could not open paxforex.org at all. Independent site EarnForex marks PaxForex as disabled and out of business. WikiFX labels it a fake broker with ongoing withdrawal complaints. Treat PaxForex as closed and do not send it money until a working, licensed site is confirmed.
Min. Deposit
USD 10
Max Leverage
Was up to 1:500
Spreads From
Was about 0.3 pips on the Standard account
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
