Review Time
Paxforex is currently offline, I cannot contact support or chat. The website is gone. There was no maintenance notification or any type off communication. I don't have access to my funds and this has been since Friday. How can a company be allowed to do business like this? If the site does come back their support will act as if here was no issue. The Laino Group should really work on customer service if I haven't been scammed
The platform initially gave a sense of reliability. That impression changed once withdrawals were requested. Communication slowed and explanations were unclear. After extended frustration, I contacted 🆁🅴🆃🆁🅰︎🅲🅴🅸🅽🆅🅴🆂🆃🅼🅴🅽🆃 (A͎T͎) o͎u͎ t͟͟͟͞͞͞l͟͟͟͞͞͞o͟͟͟͞͞͞o͟͟͟͞͞͞k͟͟͟͞͞͞ 🅳🅾︎🆃 ⒞⒪⒨ and was able to retrieve some funds.
Well i don't know what to make of perevious commenter issues other than brownstuff happens. I opened a PaxForex account 3 years ago that i completely forgot about. Re-opened it recently and the money was still there. Some shady or dodgy organization would have easily taken that money on some bogus condition like 'account inactivity' or something. There are things i'm not sure about like no more MT4 support but then again i only use MT4 for robots. I think most people do. For manual trading its TV for me. As a rule if the majority 2/3 of the reviews are supportive and 1/3 not - then something is not quite right but don't underestimate the will of a jilted person or persons to trash someone else's reputation.Only REAL criticism i have is having to use an affiliated MT4 client broker when actually PaxForex's MT4 support and client was pretty stylish. I haven't withdrawn anything recently from PaxForex so i don't know what supposed issues they have but its a nice touch to have USDT deposit and withdrawls. Thats definitely a booster for me given my other main TradeBroker Admiral doesn't offer this.
You can flag and report my previous comment or review as “spam” whatever you want but it’s just a fact. Look at the overall reviews and rating… I am surely not the only oneThe withdrawals take way too long.And also, the former website “paxforex.com” is seized by the FBI. So don’t come on here with a massive poker-face and pretend to be the best broker in the Trading Industry.Hope you Lads will get seized again by the FBI. I think these Liars are not even regulated. Go to the FCA of the UK and do some research on these blokes. And yes, I went to the Local FCA in London (the 17th of December), and the employees told me the exact same thing:NOT REGULATEDHad another £17,000 (British Pounds) trading account, won’t let me withdraw my £17,000.And whenever clients post reviews about it on Trustpot, PAX will 100% Flag the comments. Sneaky serpents.But I’m fortunate enough to have multiple trading accounts, on other Brokers such as ICmarkets. I don’t care, can’t complain about my life right now. With my £17k you can take your wife out. Go do something together with her…outdoor activities, travel, spend it on luxurious products.. maybe go and take her on a Balkan Road trip, from Croatia all the way to Greece with my 17k? and keep in mind these are just examples of what you could possibly do with it. Be sure to make her a happy woman, and fulfill her needs. Every penny counts.This 17k was just a side account that I’ve got connected to other accounts on ICmarkets with Copy Trade.This is just Laughable.Go F yourselves.Mark my words fam, PAXforex will be gone in 2025.I’m absolutely gutted by the fact, that PAX is still active / operating / providing service on PAXforex.org even after the F.B.I. Clearly took the previous website down.Let’s all completely ignore that, and just transfer Funds to PAXforex anyways.Biggest W*nkers in the industry, as far as I know.Lunatics.You still owe me 2k remember? IB commission money.So the grand total is 19k British Pounds.Greetings from Essex.
PaxForex, which had no physical presence in the US, allowed traders from the country and elsewhere to trade gold and silver, as well as cryptocurrencies including ether, litecoin, and bitcoin. As such, it acted as a futures commission merchant (FCM) and a contract market without being registered to do so.After the charges were filed, the paxforex dot com domain was seized by the FBI according to an announcement on the company’s website. Paxforex changed to a dot org domain.Extra-Territorial Reach for US Regulators and Courts.The scheme has been running from March 2018 to the present and allegedly had violated the Commodity Exchange Act and agency rules in connection with soliciting and accepting orders for retail commodity transactions.Likewise, PaxForex illegally acted as the counterparty for its clients’ transactions, extended credit or accepted money and securities. Additionally, the company allowed investors to fund a margin account with bitcoins and other assets to then open leveraged positions in other asset classes. Because the transactions were not executed on a national exchange, PaxForex violated the federal securities laws.Absent certain exceptions, which do not apply to PaxForex, the US laws require that companies offering such products to be registered with the SEC and that the transactions be executed on a registered national exchange.The CFTC has asked the court to provide full restitution, disgorgement of ill-gotten gains and to pay the appropriate civil monetary penalties. In addition to fiscal claims, the agency seeks permanent registration and trading bans and a permanent injunction from future violations of federal commodities laws.The charges against PaxForex are brought amidst the multi-year crackdown against crypto firms, the latest enforcement essentially boils down to plain old-fashioned securities and commodities violations. The case is another reminder of the extra-territorial reach of US authorities as offshore firms offering unregistered financial services to local customers are subject to regulatory and criminal penalties.
Horrible experience. These guys would close me out of major pairs while the chart was over 30 pips away from their claim! Instead of going into a profitable trade I would watch the spread just get bigger and bigger, I have seen major pairs with over 50 pip spreads! I never tried to get money from them as they managed to fraudulently close 4 trades for no reason I can figure out and where the chart had not come close to in any recent timeframe, the number my trade was closed at. I am disgusted by this company. I feel completely taken advantage of, and since they are not regulated, nothing I can do about it. This is beyond me being upset about making some bad trades, that is not the case. If you value your money and are trying to make some money, this is not the broker for that.
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