BrokAIr Reviews

Paxforex Review

Paxforex has been quietly gaining traction as one of the most reliable online brokerages. But is it really as reliable as they claim?

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Overview of Paxforex

Paxforex is an online brokerage that was founded in 2011. The company is based in Belize and regulated by the International Financial Services Commission (IFSC) of Belize. It provides traders with a range of services, including spot trading of Forex, CFDs and commodities on the MetaTrader 4 and 5 platforms.

Pros of Paxforex

Cons of Paxforex

Public Opinion about Paxforex

Overall, the public opinion about Paxforex is mixed. Some users have reported positive experiences with the broker, praising its customer service, low spreads and lack of commissions. Other users have expressed concerns about the lack of regulatory oversight, limited liquidity and lack of research tools.

Paxforex has received a number of awards and recognitions, including being named Best Forex Broker in 2016 by FXEmpire. The broker has also been featured in several publications, such as FXDailyReport, Finance Magnates and DailyForex.

The broker has been subject to criticism from some users. In 2017, the company was accused of fraud by several traders who claimed their funds were not returned. The company denied these allegations and stated that all withdrawals were processed in accordance with its terms and conditions.

In 2019, Paxforex was fined by the IFSC for failing to comply with certain regulations. The broker has since corrected its practices to comply with the IFSC's regulations.

Source: IFSC website


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