Is PaxForex No Deposit Bonus Worth Your Time?
PaxForex is a Forex broker which operates across a number of different countries. They claim to be customer-focused. This is where their supposed bonuses come into play however things are not the way that PaxForex makes them seem. One of PaxForex’s bonuses that we are going to discuss is their $7 Welcome Bonus where you can open an account, deposit nothing at all and receive $7 to start trading. Read our PaxForex bonus review for more information about why you would be better off avoiding both them and their bonuses completely.
Update: PaxForex No Deposit Bonus is not available at the moment!
But don’t worry, we’ve got you covered. Thankfully, you can find plenty of other choices on the market, where reliable brokers offer nice bonuses to their customers. For instance, XM Group has a $30 No Deposit bonus which is more than the original amount of PaxForex’s bonus and is from a more reliable broker.
How does PaxForex No Deposit Bonus work?
Before we mention the terms and conditions of this offer, the first thing that needs to be pointed out is that PaxForex is established in St. Vincent and the Grenadines. They claim that their regulation is done by the Financial Services Authority(FSA) there. However, we have found out that this is actually a lie. PaxForex is under no form of regulation whatsoever.
If that is not enough to turn you away from PaxForex and you still find their bonus offers alluring then continue our PaxForex bonus review and we will show you why you are better off avoiding them.
As we already mentioned, PaxForex’s welcome bonus is a $7 gift to new customers, meaning that they can get $7 after registering their account on the website. This seems attractive at first but once you read the conditions of this, you realize that signing up for this account is an immense waste of time.
The conditions of this account are that you have to trade at 1.5 lot and you will be able to withdraw $5. However, the thing they do not tell you is that you can only make a minimum withdrawal of $25.
Also, the maximum which you can withdraw from this account is $100. That is a lot of time spent trading for a small amount of money. It simply is not worth it. Thankfully, you don’t have to stick with this particular broker. Instead, we advise you to check XM Group which has a $30 No Deposit Bonus giving you the chance to boost your trading performance without making any personal investments.
Should you trust PaxForex No Deposit Bonus?
PaxForex is based in St. Vincent and the Grenadines and claims to be regulated by the FSA however the FSA has denied this. This alone is enough reason not to trust or use this broker. The PaxForex bonuses are also misleading and in reality will not benefit you, only cause you to waste your time. That’s why we recommend avoiding PaxForex at all costs. Now is the best time for you to sign up for XM Group and get their $30 bonus which actually gives the possibility of using the gifted amount for trading purposes.
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