The reliability of a brokerage company, which acts as an intermediary in the Forex market, is determined by various factors. An incorrect choice of such a company for a trader can entail significant troubles in the form of loss of funds.
Become an IB!
Proceeding from this, it is worthwhile to come to the question of where to open a trading account.
PaxForex provides its customers with quotes from the largest liquidity providers - Deutsche Bank, UBS, Credit Suisse, Barclays, Goldman Sachs and Merrill Lynch.
Each type of account here involves a specific set of options for optimizing trading in financial markets.
So, we will consider each type of account separately to determine which group of traders is suitable for one or another type of account.
If you are a novice trader, consider a Mini or Cent account. To start trading, it is enough to deposit 10 USD. By the way, trading in micro lots will allow you to reduce risks.
Also, this type of account is suitable for those who want to test a trading strategy.
If you have enough experience, consider Standard or VIP accounts. Identical conditions are provided on these accounts: trading standard lots, narrow floating spreads, leverage up to 1: 500, Swap-free service (for clients practicing Islam).
Additionally, on any of the presented types of accounts you can use the services of “Personal Manager” and personal training.
To open an account of the Standard type, it is enough to deposit 2000 USD, and for a VIP account - 10,000 USD.
If your trading strategy involves trading with fixed spreads, then you may be interested in an account of the type FIX, on which you can trade with fixed spreads from 2 points, in micro lots. There is also a wide list of assets - 25 currency pairs, metals, the option Swap-free and the services of a personal manager are available. To open an account of type FIX, it is enough to deposit 100 USD.
Periodically, the dealing center develops various motivational offers and organizes bonus programs for existing and potential customers. Until May 2017, any blogger could post on his website an author’s article about a broker and get $ 40 in a trading account, 20 of which were available for withdrawal. Today, the dealer continues to organize various actions for traders, which can be found on his web site.
Paxforex has several types of affiliate programs that allow you to earn, attracting new clients to the dealing center. Among them:
Master IB - suitable for individuals with a large client base of forex traders;
Regional IB - is aimed at individuals with an average client base, consisting mainly of residents of one particular region;
White Label - an interesting program for beginner forex brokers, allowing them to start or expand their business under their own brand, using ready-made tools by PaxForex;
Forex rebate is a program for attracting new customers, which allows Paxforex partners to return to their traders the share of money from the spread of each closed transaction within 30 calendar days of trading.
Return spread. If the client’s transaction is closed during the trading month, you can return part of the spread.