PaxForex Review South Africa (2025)

This PaxForex review conducted in South Africa shows that PaxForex is a brand name of the company Laino Group Ltd, established in 2011 and registered in St. Vincent and the Grenadines as a financial investment firm.

PaxForex lists Credit Suisse, Barclays, Deutsche bank, Goldman Sachs, UBS and Merrill Lynch as its partner liquidity providers. PaxForex does not accept clients from the USA, Germany, New Zealand, Japan or Canada.

SAFE OR SCAM?

One of the best benchmarks to measure the safety of a broker like XXX, is to establish which regulatory authorities are watchdogs over its actions.

Laino Group is the owner of the PaxForex brand and as such is registered in St. Vincent and the Grenadines with the registration no. 21973 IBC 2014 1825. This entity is however not regulated by a globally-recognized financial regulator.

In accordance with its regulation by the SVGFSA, all client funds at PaxForex are held separately from the broker’s operational funds. The client accounts are held at investment-grade European banks, all of which do receive close monitoring.

PaxForex is part of the Investor Compensation Programme, which, paired with the segregated bank accounts, protects client funds in the case of insolvency.

Whilst the SVGFSA can be trusted, the regulatory body is less strict than other popular regulators such as the FCA and CySEC.

PAXFOREX REVIEW OF PRO AND CONS

LEVERAGE

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade.

Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.

For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.

For all PaxForex account types, the maximum leverage is 1:500.

ACCOUNTS

A forex account at PaxForex is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against Islamic faith.

Often, the number and type of accounts that a trader can open with a broker company differs depending on the country in which it operates and the regulation authorities under whose jurisdiction it falls.

In the case of PaxForex the provided account types are: Cent, Mini, Standard and VIP accounts. Islamic and demo accounts are also provided.

Cent Account

The minimum deposit amount is $10 but PaxForex recommends $100. The lot size is 1000, margin call is 55% and stop out is 20%. The account currency is only USD. The minimum spread is 2.4 pips.

Mini Account

The opening balance is $100 but $500 is recommended by the broker. A lot size is 100,000 and the minimum volume lot is 0.01. The margin call is 10% and the stop out is 5%.

Standard Account

The minimum spread is 0.4 and the minimum opening balance is $2,000 while PaxForex recommends $5,000. The minimum lot size is 0.1. All the tradable assets on the broker platform can be traded with this account type.

VIP Account

The opening deposit amount is $10,000 but PaxForex recommends $50,000. The minimum tradable volume is 0.01 lots.

It features the lowest spreads from 0.4. This account is designed for large volume professional traders. A personal account manager is devoted to account holders.

Swap free accounts are available on request. It is available as mini, standard or VIP accounts. Demo accounts are provided with virtual trading funds.

MARKET INSTRUMENTS

PaxForex offers currency pairs, stocks, metals and cryptocurrencies for trading on the MT4 trading platform.

PaxForex offers a total of 60 currency pairs, allowing you to trade majors, minors, and exotics. You can also trade popular cryptocurrencies via CFDs.

Of the four currencies available, Bitcoin is the most popular, but the ability to trade Litecoin, Ripple, and Ethereum too may also appeal to real crypto enthusiasts.

The broker offers over 40 different share CFDs. This includes 6 NASDAQ listed companies, such as Apple and Google, as well as 38 NYSE listed companies, ranging from Disney to Home Depot.

PaxForex allows you to trade gold or silver CFDs, with very competitive spreads and swaps on spot metals. Unfortunately, there are no opportunities for social trading or copy trading.

FEES

Trading fees on PaxForex are charged via spreads instead of commissions. These spreads are very competitive, especially on Standard and VIP accounts. PaxForex swap rates are also competitive and transparent.

Deposits made via Bitcoin, Ethereum, and Perfect Money do not incur fees and the only fee for deposits made via bank transfer is bank commission. Deposits on credit and debit cards are free above $300, but lesser amounts cost between 3.75 and 8.5%, plus $0.50.

Withdrawals made via bank transfer will cost you your bank charges, credit/debit card withdrawals cost 5.5%, and e-wallet withdrawal charges cost up to 3.9%.

Cryptocurrencies are the priciest withdrawal option with a cost of 7% + 0.0006 BTC for Bitcoin, and 7% for Ethereum. PaxForex does not charge inactivity fees.

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DEPOSIT AND WITHDRAWAL

PaxForex offers various deposit methods including:

• VISA
• MasterCard
• Bitcoin
• Ether/Ethereum
• FasaPay
• Local Bank Transfers
• Neteller
• PerfectMoney
• Qiwi
• Skrill
• WebMoney

Withdrawal Methods include:

• MasterCard
• Bitcoin
• FasaPay
• Local Bank Transfers
• Neteller
• PerfectMoney
• Qiwi
• Skrill
• WebMoney

PaxForex only accepts deposits from bank accounts in the same name listed on the trading account opening form and any deposits from third parties are rejected. The accepted currencies are USD, EUR and GBP.

Withdrawals are processed from 09:00 to 18:00 every workday, but not on weekends and public holidays. The minimum withdrawal amount is $10.

TRADING PLATFORMS

A forex trading platform is in essence the software provided by PaxForex to its clients to carry out their trades.

A multi-asset trading platform is one that allows clients to trade forex but other asset classes, including CFDs on stocks, stock indices, precious metals, and cryptocurrencies as well.

The decision about which platform to choose will always depend on what a client would like to trade. The only platform provided by PaxForex is the MT4 for download and mobile.

MetaTrader4 (MT4) is a well-known in the industry. PaxForex provides the MT4 in its various versions: terminal for PC, Multiterminal for PC and MT4 for mobile operating systems.

The MT4 mobile version is available as android, iOS and on windows mobile operating systems and give traders the opportunity to trade anywhere anytime.

HOW TO OPEN AN ACCOUNT

The PaxForex review process of opening a new account is fully digital, hassle-free and fast.

To open an account with PaxForex, a potential client must:

• Select “Open trading account” at the top of the website.
• Enter personal details, including full name, email, country, phone, city, and address
• Agree to the terms of service before selecting “next step.”
• Enter the SMS activation code received via phone to verify your number.
• Click on the confirmation link received via email to verify your email address.
• Select the account type and trading conditions of choice.
• Fund the account and begin trading.

During the registration and verification process, a client will have to submit the following documentation to support information:

• A copy of a government-issued ID card, such as a driver’s license or passport.
• Proof of address, such as a copy of a utility bill.

CUSTOMER SUPPORT

Potential traders need to make sure the company they choose will offer support whenever they may need it, in order to help customers easily find the exact answers to their questions and offer them the best user experience.

In the case of PaxForex there are several methods of contacting the broker’s team. For English-speaking support there is a phone number with a UK country code and a fax number.  You can also request a call-back from PaxForex.

Clients can also use the live chat feature on the PaxForex website or send an email to their email address. You can also contact PaxForex via Facebook, Twitter, LinkedIn, Instagram, Telegram or YouTube. Support is available 24/5.

EDUCATION

Before starting to trade, potential clients of PaxForex should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

If PaxForex’s website itself does not provide enough means, a trader should explore other informative websites and means to obtain that knowledge. Trader education on PaxForex offers lessons on Forex basics and a glossary of trading terms.

The lessons comprise a series of articles to introduce forex trading to a newbie. It consists of 17 lessons covering forex terms, analysis, technical indicators, forex strategies, charts, trend lines, etc.

There are also lessons on CFDs, Warren Buffet strategy and info graphics. The glossary is an alphabetically arranged list of forex trading terms and terminologies with detailed explanations.

RESEARCH

To be able to trade with confidence and success, potential traders should do as much possible research about this kind of speculative trading before commencing, but also preceding every daring deal.

This will ensure that they don’t lose money unnecessarily and on the other hand to trade as profitable as possible.

PaxForex offers tools like an economic calendar and a forex calculator, as well as some additional tools.

The forex calculators include a margin calculator and a pip calculator, you can add trading instruments to the calculators and adjust the account currency, leverage, trading instrument and lots.

A section is dedicated to daily fundamental analysis, with detailed articles posted regularly by PaxForex experts, as well as a section for daily forex technical analysis.

A forex blog on PaxForex includes research information as well as educational information and news.

The Expert Advisors feature comes as standard with the MT4 platform, which are robots that will engage in automated trading on your behalf, using pre-set strategies.

AWARDS

Being an awarded company instills extra confidence by traders, but PaxForex does not show any information about awards accumulated during its years in business on its website.

CONCLUSION

PaxForex can be summarily described as a worthwhile company for potential traders, although it is an offshore broker.

Due to this, PaxForex could serve as an alternative for those traders who cannot afford the margin requirements on UK and European forex platforms.

PaxForex provides multiple account funding options and MT4, and succeeds in promoting a gradual transition from demo trading to real money trading using accounts that require very little minimum capital.

The broker provides educational resources and daily analysis and can become a global brand in the near future.

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DISCLAIMER

PaxForex warns all potential customers that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors.

Before deciding to trade the products offered by PaxForex, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.

PaxForex warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable.

Therefore PaxForex cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.