PAX-FOREX Account Types & How to Open

When we first looked at PAX-FOREX Global Limited, the broker's account lineup seemed, on paper, to offer something for everyone: a Micro account for beginners, a Standard account for the average retail trader, an Ultra Low account for spread-sensitive scalpers, and a Shares account for those wanting direct equity exposure. But as our review progressed, the gaps in the picture became as telling as the details that were provided. The broker is registered in Belize, a jurisdiction known for light-touch oversight, and its only listed licence is a Cypriot CYSEC Market Making licence (no 120/10) — a combination that raises immediate questions about which entity actually operates the accounts and under whose supervision.

In this deep dive, we examine each account tier, the minimum deposits, leverage, spreads, and commissions — where they are disclosed — and the practical steps to open an account. We also weigh the risks that come with trading through a broker that industry databases flag as a 'clone firm' and that carries an FXCanary Scam Risk Score of 85/100 (Severe). Our goal is to give you a clear, factual picture of what PAX-FOREX offers, and what it does not, so you can decide whether the potential rewards justify the considerable risks.

The Micro Account is positioned as the starting point for new traders. With a minimum deposit of just $5, it is one of the most accessible entry points we have seen, allowing someone to test the waters with a negligible amount of capital. The maximum leverage is set at 1:1000, which is extremely high and, in our view, dangerous for inexperienced traders — a single adverse move can wipe out the entire account. The minimum spread is listed as 'from 1' pip, which is average for a standard account but not particularly competitive in the current market.

For a beginner, the low deposit is attractive, but the high leverage and lack of detailed information about commissions or the trading platform are concerning. We found no clear indication of whether a demo account is offered, which is a standard feature for most brokers and essential for practice. Without that, a novice trader is forced to risk real money from the start. In our assessment, the Micro Account is a classic 'foot in the door' product: it lowers the barrier to entry but does little to protect the trader from the risks inherent in high-leverage trading.

The Standard Account is the most conventional offering, with a minimum deposit of $5 and the same 1:1000 maximum leverage as the Micro Account. The minimum spread is 'from 1' pip, which is in line with many industry-standard accounts, though not as tight as the Ultra Low tier. This account seems designed for the typical retail trader who wants a straightforward trading experience without the complexity of a raw spread or direct market access.

However, we could not verify the commission structure — it is listed as '--' in our records, meaning it is not disclosed. That is a significant omission, as commissions can materially affect the total cost of trading. Similarly, the trading platform is not specified, which is unusual for a broker that claims to offer multiple account types. In our experience, a lack of transparency on such basic details often points to a broker that is either still building its infrastructure or has something to hide. We would caution any trader considering this account to demand clear answers on commissions, platforms, and execution before depositing funds.

The Ultra Low Account is clearly aimed at traders who care about spreads — scalpers and high-frequency traders who need the tightest possible pricing. The minimum spread is 'from 0.6' pips, which is competitive, and the minimum deposit remains a low $5. The maximum leverage is again 1:1000, which is consistent across the retail accounts. This account type is often marketed as a 'raw' or 'ECN' product, but we found no evidence of a separate commission structure — it is listed as '--', meaning it is not disclosed.

In the industry, ultra-low spreads are almost always paired with a commission per lot, because the broker needs to make money somewhere. The absence of a disclosed commission is a red flag: either the spread is not truly as low as advertised, or the commission is hidden in the execution price. We also note that the account is named after the broker itself, which is unusual and may be an attempt to build brand recognition. For a trader who understands the costs involved, this account could be attractive, but the lack of transparency on commissions makes it impossible to calculate the true cost of trading. We recommend proceeding with extreme caution.

The Shares Account stands apart from the other tiers, with a minimum deposit of $10,000 — a substantial sum that immediately excludes most retail traders. The maximum leverage is listed as '--', which we interpret as either no leverage (i.e., 1:1) or not disclosed. The minimum spread is 'as per the underlying exchange', meaning the broker passes through the exchange spread, and there is no commission listed. This account appears to be designed for high-net-worth individuals or institutional clients who want to trade individual equities.

However, we found no information on which exchanges are covered, what instruments are available, or how the account is executed. The $10,000 minimum deposit is a significant commitment, and for that level of investment, a trader would expect a high degree of transparency and regulatory oversight. Given that PAX-FOREX is flagged as a clone firm and registered in Belize, we would strongly advise against depositing such a large sum without extensive due diligence. In our view, the Shares Account is the riskiest offering, not because of the asset class, but because of the combination of high entry cost and low regulatory clarity.

Across the Micro, Standard, and Ultra Low accounts, the maximum leverage is 1:1000. This is among the highest leverage ratios available in the retail forex market, and it is a major concern for us. While high leverage can amplify profits, it equally amplifies losses, and at 1:1000, a mere 0.1% move against the trader's position can result in a margin call. In jurisdictions with strict regulatory oversight, such as the EU under ESMA, retail leverage is capped at 1:30 for major forex pairs. The fact that PAX-FOREX offers 1:1000 suggests that it is not subject to such restrictions, or that it is operating outside the regulatory framework of its CYSEC licence.

It is also worth noting that the CYSEC licence (no 120/10) is a Market Making licence, which means the broker can act as the counterparty to its clients' trades. This creates a potential conflict of interest, as the broker profits when the trader loses. Combined with the high leverage, this can create a toxic environment for retail traders. We would advise any trader considering PAX-FOREX to treat the 1:1000 leverage as a warning sign, not a feature.

Our records do not contain specific details about the account opening process, KYC requirements, or the trading platforms offered. This is a significant gap, as a transparent broker would typically provide clear information on how to open an account, what documents are required, and which platforms (e.g., MetaTrader 4/5, cTrader) are supported. The absence of such information in our files, and the lack of a verifiable website or social media presence, makes it difficult for us to confirm that the broker even has a functioning onboarding process.

We attempted to cross-reference the web search results, but they did not clearly match PAX-FOREX Global Limited — the search returned entities with similar names but different domains and regulators. As a result, we have set our web confidence to 'low' and rely solely on the known facts. In our assessment, the lack of verifiable information about the account opening process is a major red flag. A legitimate broker would have a clear, accessible onboarding procedure, and the fact that we cannot find one suggests that PAX-FOREX may not be fully operational or may be operating in a manner that avoids scrutiny.

PAX-FOREX Global Limited is registered in Belize, a jurisdiction known for its light regulatory oversight. The only licence on file is a CYSEC Market Making licence (no 120/10) in Cyprus, but the status is listed as '--', which we interpret as either pending, suspended, or not confirmed. This is a critical concern: a CYSEC licence is supposed to provide a level of investor protection, but if the licence is not active or does not cover the Belize entity, then clients may have no recourse in the event of a dispute.

Industry databases flag PAX-FOREX as a 'clone firm', meaning it may be impersonating a legitimate broker. This is a serious risk factor, as clone firms often operate without proper authorisation and may disappear with client funds. The FXCanary Scam Risk Score of 85/100 (Severe) reflects these concerns. We also note that the broker has zero employees on record, which is unusual for a company offering multiple account types and high leverage. In our view, the combination of offshore registration, an unconfirmed licence, clone flags, and no verifiable presence makes PAX-FOREX a high-risk broker that we cannot recommend to any trader.

In summary, PAX-FOREX offers a range of account types that appear to cater to different trading styles, but the lack of transparency on key details — commissions, platforms, KYC, and regulatory status — undermines any potential benefits. The low minimum deposits are attractive, but the high leverage and the broker's risk flags make them a trap for the unwary. The Shares Account, with its $10,000 minimum, is particularly concerning given the lack of information.

We cannot verify that PAX-FOREX is a legitimate, operating broker. The absence of a verifiable website, the clone firm flags, and the unconfirmed licence status are all serious red flags. In FXCanary's assessment, the risks far outweigh any potential rewards. We strongly advise traders to avoid depositing funds with PAX-FOREX until it can provide clear evidence of its regulatory status, transparent account terms, and a verifiable operational presence. If you are looking for a broker, there are many well-regulated alternatives that offer similar account types with far greater safety.