PaxForex Review 2026
Regulated broker with real licence numbers.
PaxForex is a regulated CFD broker founded in 2010. It holds a FSA licence under number SD061.
The basics
PaxForex was founded in 2010 and is headquartered in Victoria, Seychelles. It is privately owned. The broker offers CFDs on 150 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 2010 |
| Headquarters | Victoria, Seychelles |
| Instruments | 150+ |
| Platforms | MT4 |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is PaxForex safe?
The Seychelles FSA is an offshore regulator. It requires broker registration and basic conduct rules, but does not offer the same client protections as the FCA, CySEC, or ASIC. There is no compensation scheme and leverage limits are not imposed.
| Regulator | Licence | Entity |
|---|---|---|
| FSA | SD061 ✓ | PaxForex Ltd |
You can verify the FSA licence at fsaseychelles.sc. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
PaxForex spreads
These are the typical spreads on PaxForex's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | From 0.0 (ECN) + commission pips |
| GBP/USD | 0.3 pips pips |
| USD/JPY | 0.1 pips pips |
| Gold (XAU/USD) | 15c/oz |
| S&P 500 | 0.4pt |
PaxForex's EUR/USD spread of From 0.0 (ECN) + commission pips is wider than ECN-first brokers but typical for a commission-free account.
PaxForex withdrawal fee and processing time
Fee: None. PaxForex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
PaxForex minimum deposit by entity
The minimum deposit depends on which PaxForex entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| PaxForex Ltd | FSA SD061 | $10 | 1:500 |
PaxForex vs RoboForex
| PaxForex | RoboForex | |
|---|---|---|
| Primary regulator | FSA SD061 | FSC 000138/210 |
| Min deposit | $10 | $10 |
| EUR/USD spread | From 0.0 (ECN) + commission pips | From 0.0 |
| MetaTrader | Yes | Yes |
| Instruments | 150+ | 12,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | Varies |
Both brokers are regulated and legitimate. PaxForex suits traders who value MetaTrader and algorithmic trading. RoboForex is better for traders who prioritise its specific regulated entity coverage.
Regulation — the numbers that matter
| FSA | SD061 — PaxForex Ltd |
Leverage for retail clients in the EU and UK is capped at 1:500 on major forex pairs under ESMA rules. The offshore entity offers up to 1:500, but with lighter regulatory protection.
Pros and Cons
What works
- FSA regulated
- Very low minimum deposit ($10)
- MetaTrader 4 and 5 available
- No inactivity fee
- Tight EUR/USD spread from 0 pips
What does not work
- No tier-1 regulator (FCA/ASIC/CySEC) — offshore entity only
- No copy trading
- No real stock ownership — CFDs only
The verdict
PaxForex is a legitimate, regulated broker. The FSA licence number SD061 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to PaxForex
If PaxForex does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is PaxForex safe?
The Seychelles FSA is an offshore regulator. PaxForex holds FSA licence SD061, which is publicly verifiable on the official register.
What is the PaxForex minimum deposit?
The minimum deposit is $10. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the PaxForex EUR/USD spread?
The EUR/USD spread on PaxForex standard accounts is typically From 0.0 (ECN) + commission pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does PaxForex take to process withdrawals?
Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Does PaxForex charge withdrawal fees?
None. PaxForex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does PaxForex have MetaTrader?
Yes. PaxForex supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.