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PaxForex

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Operating status: SCAM

Website: https://paxforex.org/

Broker violations and abnormal records
  • 2020-09-27 The FBI has seized the PaxForex.com domain name
    The domain for paxforex.com has been seized by the Federal Bureau of Investigation in accordance with a seizure warrant issued by the United States District Court for the Southern District of Texas. But then PaxForex is still operating under PaxForex.org.
    The domain for paxforex.com has been seized by the Federal Bureau of Investigation in accordance with a seizure warrant issued by the United States District Court for the Southern District of Texas. But then PaxForex is still operating under PaxForex.org.
  • 2021-08-31 BrokersView has reviewed that PaxForex is an unregulated forex broker
    PaxForex claims to be registered in Saint Vincent and the Grenadines, but we didn’t find any result in the registers of Saint Vincent and the Grenadines’ Financial Services Authority (SVG FSA). Besides, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So PaxForex is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    PaxForex claims to be registered in Saint Vincent and the Grenadines, but we didn’t find any result in the registers of Saint Vincent and the Grenadines’ Financial Services Authority (SVG FSA). Besides, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So PaxForex is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

PaxForex is regulated????

Edgar
Saipan
2023-03-22
ANSWER PaxForex is an unlicensed broker even though it states offers that look too good to be true.PaxForex claims to be registered in Saint Vincent and the Grenadines, but our search for this broker on the website of Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA) did not yield any results. In addition, it should be noted that the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. More importantly, the domain for paxforex.com has been seized by the Federal Bureau of Investigation in accordance with a seizure warrant issued by the United States District Court for the Southern District of Texas. However, PaxForex is still operating under PaxForex.org.Regarding your question, PaxForex is an unlicensed broker. Letting this broker hold and control investors' funds or trading with it is risky. We would recommend staying away from such unregulated brokers as PaxForex and trade with fully regulated brokers.
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3 comments

Maxwell
After comparing their execution speed and spread differences etc on a demo account with other brokers, this broker is highly questionable, especially with luring people with their bonuses...I guess they make up their giveaways bonuses with their huge spreads lol
2023-06-18
Reply
Pro Trader
"Do not believe! ！！PAXFOREX is a scam! ！！！Paxforex stole $10,780.40 from my trading account by changing the account information and password. "
2023-06-09
Reply
Robert
I’ve been trading with Pax for over 3 months with no issues. It is easy to make deposits and withdrawals. You are assigned a personal account manager who is available to you by phone, email, and Telegram. My account manager actually calls me to see how things are going on. High Five! The only negative is that BTC withdrawal fees are a bit high at 4.75%. I have told them this and they are working on other vendors to reduce this fee. I recommend Pax.
2023-06-01
Reply
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