Binance
PaxForex
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Overview
Binance was founded in 2017 and is headquartered in Japan, while PaxForex was established in 2011 and is based in Saint Vincent and the Grenadines. Binance holds licences including Unregulated, while PaxForex is regulated by Financial Services Authority (FSA) among others. Binance serves 13500000 clients worldwide; PaxForex has 350+. The minimum deposit is $100 at Binance and $10 at PaxForex.
| Feature | Binance | PaxForex |
|---|---|---|
| Min. Deposit | $100 | $10 |
| Regulation | Unregulated | Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 |
| Founded | 2017 | 2011 |
| Country | Japan | Saint Vincent and the Grenadines |
| Clients | 13500000 | 350+ |
Fees
Fees are a critical factor when choosing between Binance and PaxForex, directly affecting your bottom line as a trader. PaxForex has a lower barrier to entry with a minimum deposit of $10 (vs $100 at Binance). Both brokers charge withdrawal fees. Binance charges deposit fees; PaxForex does not. Overall, PaxForex scores higher on fees in our assessment.
| Feature | Binance | PaxForex |
|---|---|---|
| Min. Deposit | $100 | $10 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while PaxForex supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Binance edges ahead on platform breadth and functionality in our scoring.
| Feature | Binance | PaxForex |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop, Android, iPhone/iPad, Mac | Web, iPad, mac, Desktop, iPhone iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binance and PaxForex compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Binance | PaxForex |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binance accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while PaxForex supports 4 (bank transfer, credit/debit card, Skrill, Neteller). PaxForex uniquely supports Skrill and Neteller among the two brokers. PaxForex scores higher on deposit and withdrawal flexibility.
| Feature | Binance | PaxForex |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binance and PaxForex offer live chat support. Both provide phone support. Email support is available at both brokers. Binance supports 2 languages and PaxForex supports 15, giving PaxForex broader global reach. Both brokers are comparable on support quality.
| Feature | Binance | PaxForex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |