This time, it’s a gonna be a post about the the two controversial no deposit bonuses from PaxForex. One is the “Free $100 No Deposit Bonus” and the other one is the “Be Online $200 No Deposit Bonus”. These two bonuses are for new clients only and can be withdrawable upon performing certain conditions.
Just a little more note: The bonuses according to experience are really hard to accomplish unless you are a scalper. You might be thinking that you can buy bigger lots to accomplish the required trading volume but the system (MT4 or dealing desk won’t allow you). It’s only 0.01 lot that you can buy.
Before anything, these bonuses have been considered controversial because of a little hard terms and a little stricter as well. If you’ll gonna check it out, it seems that the bonus won’t be really high as they appear when turned into real money. Because of these terms and conditions for the bonuses, there has been lots of accusations that that the broker is a scam and liar. (To be honest my bonus there has also expired because I wasn’t able to get the required lots before expiry). But before getting affected by them, it’s still better to look at the fact that you call a broker scam when they are involved in something as fraud to its clients. Furthermore, when it comes to terms, we must remember that forex bonuses are always owned by the brokers that offer them – they have the right to cancel them, make them strict, or limit the number of people that can take advantage of them. Perhaps you can always play safe, start from small (or don’t deposit any amount, just take the bonuses), get the bonuses and prove it with yourself.
PaxForex is the trading name of Paxinvest.com Ltd registered under license of #1588590 in Totola, British Virgin Islands. It’s a new broker founded only in 2011 that’s why there is not much details about this broker. It is currently non-regulated but this one gives daily market review on their Facebook and Twitter pages and they really offers a variety of bonuses and contests as well. Common observation of traders (and based on experience as well) is that this broker makes fast orders on its MT4 and no requotes happened before. And the most common grievances on this broker as implied above is the terms of the bonuses.