PaxForex
WellsTrade
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Overview
PaxForex was founded in 2011 and is headquartered in Saint Vincent and the Grenadines, while WellsTrade was established in 2008 and is based in United States. PaxForex holds licences including Financial Services Authority (FSA), while WellsTrade is regulated by Unregulated among others. PaxForex serves 350+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $10 at PaxForex and $30 at WellsTrade.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| Min. Deposit | $10 | $30 |
| Regulation | Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 | Unregulated |
| Founded | 2011 | 2008 |
| Country | Saint Vincent and the Grenadines | United States |
| Clients | 350+ | 10,000+ |
Fees
Fees are a critical factor when choosing between PaxForex and WellsTrade, directly affecting your bottom line as a trader. PaxForex has a lower barrier to entry with a minimum deposit of $10 (vs $30 at WellsTrade). PaxForex charges withdrawal fees while WellsTrade does not, a notable advantage for frequent withdrawers. PaxForex charges deposit fees; WellsTrade does not. The two brokers are broadly comparable on fee structure.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| Min. Deposit | $10 | $30 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
PaxForex offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. PaxForex supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web, iPad, mac, Desktop, iPhone iOS | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how PaxForex and WellsTrade compare. PaxForex runs regular live webinars; WellsTrade does not. PaxForex has a video library; WellsTrade does not. PaxForex publishes daily market commentary; WellsTrade does not. PaxForex integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. PaxForex maintains an archive of past webinars for on-demand viewing. PaxForex scores higher overall in education and research.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. PaxForex accepts 4 of the tracked payment methods (bank transfer, credit/debit card, Skrill, Neteller), while WellsTrade supports 2 (bank transfer, credit/debit card). PaxForex uniquely supports Skrill and Neteller among the two brokers. PaxForex scores higher on deposit and withdrawal flexibility.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both PaxForex and WellsTrade offer live chat support. Both provide phone support. Email support is available at both brokers. PaxForex supports 15 languages and WellsTrade supports 2, giving PaxForex broader global reach. Both brokers are comparable on support quality.
| Feature | PaxForex | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, and Chinese |