PaxForex: An Overview with Trading Tools

Are you looking for an online forex broker that can provide you with a trading platform? Or want to acquire a high level of knowledge for using the trading tools appropriately? If yes, then PaxForex can provide you with minute details of Forex trading and allow you to trade via MetaTrader trading platforms.

PaxForex Online Forex Broker is a multi-asset broker that offers desktop and mobile trading through the MetaTrader4 platform. It furnishes several tradable tools across four different types of accounts. You can also use the forex calculator, educational guides, and forex glossary for gaining better knowledge about the forex market.

Quick Review of the PaxForex

Launched in 2010, PaxForex is a team of professional traders that acts as an online broker for individuals who want to trade in Forex instruments. It gives access to four core trading accounts, namely, Cent, Mini, VIP, and Standard. In addition to them, demo trading and Islamic swap-free accounts are also accessible. You can easily trade in any of these accounts without paying any commission.

This online broker allows you to trade commission-free on distinct CFD instruments, including crypto-currencies, stocks, indices, and metals. The users can easily trade on the MetaTrader4 platform using the mobile trading apps available for Android and iOS. Moreover, PaxForex also provides you with different educational tools so that you can perform better in the Forex market.

It is one of the most advanced and reliable trading platforms. Using the ultimate trading tool, MetaTrader4, global investors capitalize their money in CFD instruments and accomplish their trading needs. From fast execution to high leverage to quick withdrawal/deposit, this online Forex broker offers several benefits to a trader.

P.S.: Here’s a more in-depth review of PaxForex in which Mr. Patrick Ryan (from https://forexrobotnation.com/paxforex-review-1-rated-broker/) calls it “The Best Forex Broker in 2021”:

Additional Features of PaxForex 

  • Copy-trading service 
  • Market analysis 
  • Forex Articles and news 
  • Daily forex signals 
  • Economic calendar

Pros 

  • Zero commission on deposits
  • 100% loyalty deposit bonus 
  • Free training and easy registration 
  • A vast range of educational and research tools 
  • Trade on MetaTrader4 for Windows and mobile trading apps

Cons 

  • The unregulated and untrustworthy regulator
  • No rules for segregated client funds in the company’s terms and conditions.

Trading Tools

PaxForex offers several trading tools that can help new investors and other traders to trade in the market effortlessly. Using these trading methods, you can also improve your existing performance. Here are the details about each PaxForex trading tool:

  1. Education Guides & Videos

PaxForex offers educational guides to new and existing traders. It runs a PaxForex Forex Trading Course where you can grab the information about the basics in trading. It enhances your understanding and acts as a guide for your trading career. This guide will enhance your knowledge about Forex trading and increase the possibility of making profits.

The trading guide is divided into ten portions in order to make your trading easier. For daily success in the forex market, education is compulsory as it helps to assess the details of the financial markets. The content and topics of this Forex trading course are also suitable for professional traders. You can also get the most profitable advice of the financial market.

This online broker also provides several educational videos. It offers courses on topics like Forex trading, market analysis, trading psychology, and trading strategies. It is also possible to acquire information on stocks, CFDs, managed accounts, and crypto trading.

A few topics of the PaxForex trading course: 

  • Warren Buffet trading strategy 
  • Forex Charts 
  • Currency Trading for Dummies 
  • Types of Analysis 
  • Support and Resistance
  1. Forex Calculators

Every trader needs to calculate the most significant forex parameters. For this, traders have to use an advanced calculator, which is usually not provided by forex companies. Several forex brokerage firms provide this facility to their traders. PaxForex is also among those forex trading platforms that provide an effective forex calculator.

Forex Calculator includes two types of calculators: 

  • Forex Margin Calculator 
  • Forex Pip Calculator

The Forex Margin Calculator helps you to count the desirable amount of funds in your trading account to make a perfect deal. This calculation is based on the Forex Trading Account currency, volume lots, currency pair, and leverage.

The Forex Pip Calculator calculates the cost of the minimum price movement, also called Pip. The calculator makes this estimation based on the currency pair, volume lots, and forex trading account currency value.

Advantages of using Forex Calculator: 

  • Eliminates the need to mind the big lists of mathematical thoughts related to each currency pairs. 
  • Provides the required data automatically and without errors. You just have to make the transaction with variable parameters. 
  • Every option is available with the Forex calculator software. There is no need to re-calculate the parameters manually. 
  • Simple and convenient to use. 
  • Suitable for both beginners and professional traders of the forex market.
  1. Forex Glossary

Traders who have just begun trading in the Forex market are unaware of some important terms. They may also don’t know the meaning of those words, and hence, faces difficultly while trading. PaxForex offers you a Forex Glossary that has several terms from A to V.

The platform has every word used in the normal functioning of the forex market. It also provides the meaning of each of the terms so that a new trader can trade in stocks and indices effortlessly. You can get a detailed description of every word.

Brief Details About Trading Platforms

PaxForex offers two types of trading platforms:

  1. MetaTrader4: The MT4 platform provides multiple types of orders, built-in automatic trading, and fundamental analysis instruments. The plus point is that it has a friendly user-interface. It is favorable for beginners as it helps to adapt quickly to the platform. MT4 is supported for Windows and Mac computers. 
  2. MetaTrader4 Multi-Terminal: The MetaTrader4 Multi-Terminal platform allows the users to manage a maximum of 100 accounts simultaneously. This feature is suitable and appropriate for investment managers. It helps them to combine distinct trading options effectively. It further several features similar to that of the MT4 platform.

Summing Up

PaxForex is an online broker that allows both beginners and professional traders to invest money in the forex market. The company has made its separate image by offering facilities like 24/5 multilingual support, low spreads, and quick executions. It provides a decent range of assets with leverage up to the ratio of 1500.

The availability of four effective accounts suitable for various deposits and withdrawals. This online platform ensures to provide proper guidance and support to new traders and give facilities, including a Forex calculator and a Forex glossary. Overall, it is a good online broker except for the drawback of an untrustworthy regulator.

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