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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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