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The WikiFX Score of this broker is reduced because of too many complaints!

Paxful Financials

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://paxfulfinancials.com/

Website

Rating Index

Contact

+44 790099876
info@paxfulfinancials.com
https://paxfulfinancials.com/
16 Abbotsbury Road, Morden England SM4 5LQ
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+44 790099876

Broker Information

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Company Name

Paxful Financials

Company Abbreviation

Paxful Financials

Platform registered country and region

United Kingdom

Company website

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Warning: Low score, please stay away! 2
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

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Paxful Financials · Company Summary

Company name Paxful Financials
Registered in United Kingdom
Regulated Unregulated
Years of establishment 2022
Trading instruments High-tech start-up investments and IPOs, forex trading, portfolio line of credit, effective trading strategy, high-performance trading platform, and platform security
Account Types BEGINNER, INTERMEDIARY, CONTRACT, ENTERPRISE
Minimum Initial Deposit $100
Maximum leverage N/A
Minimum spread 2%
Deposit and withdrawal method Bank transfers, credit cards, and debit cards
Customer service Email, phone, and direct messaging

Overview of Paxful Financials

Paxful Financials is a peer-to-peer (P2P) cryptocurrency exchange that allows users to buy, sell, and trade Bitcoin and other cryptocurrencies. The platform was founded in 2022 by Artur Schaback and Ray Youssef, and it is headquartered in the United Kingdom.

Paxful Financials offers a wide range of market instruments, including high-tech start-up investments and IPOs, forex trading, portfolio line of credit, effective trading strategy, high-performance trading platform, and platform security. The platform also offers four different account types to suit different needs, as well as a user-friendly trading platform and a variety of deposit and withdrawal methods.

However, Paxful Financials is an unregulated broker, which means that it does not have valid regulation from any reputable financial authority. This poses potential risks for traders, as unregulated brokers may operate without oversight, which can lead to concerns about the safety of clients' funds and the fairness of trading practices.

basic-info

Is Paxful Financials legit or a scam?

Paxful Financials is currently operating as an unregulated broker, meaning it does not have valid regulation from any reputable financial authority. It is crucial for traders to exercise extreme caution when dealing with unregulated brokers. Regulation in the financial industry plays a vital role in providing investor protection and ensuring brokers adhere to stringent standards and ethical practices.

The lack of regulation poses potential risks for traders. Unregulated brokers may operate without oversight, which can lead to concerns about the safety of clients' funds and the fairness of trading practices. Additionally, in the absence of regulatory oversight, traders may have limited recourse in case of disputes or fraudulent activities.

Pros and Cons

Paxful Financials offers advantages such as a wide range of accepted payment methods, good liquidity, and low fees, providing convenience and cost-effective trading experiences.

However, it is essential to consider the drawbacks as well, including being an unregulated broker, high spreads, and limited selection of cryptocurrencies for trading. Additionally, the platform lacks margin trading and stop-loss orders, which may affect risk management strategies. Traders should carefully weigh the pros and cons before choosing Paxful Financials and consider their risk tolerance and trading preferences.

Pros Cons
Wide range of payment methods accepted Unregulated
Good liquidity High spreads
Low fees Limited selection of cryptocurrencies
No margin trading
No stop-loss orders

Market Instruments

Paxful Financials offers a diverse range of market instruments designed to cater to the needs and preferences of its clients. These instruments include high-tech start-up investments and IPOs, forex trading, portfolio line of credit, effective trading strategy, high-performance trading platform, and platform security.

Paxful Financials plays a pivotal role in supporting the growth of promising high-tech start-up companies by investing in them, guiding them, and ensuring effective management and stability for successful IPOs. Additionally, the company trades a portion of its funds in the forex market, which averages $5.3 trillion in daily trading volume, and offers a portfolio line of credit for clients to borrow up to 30% of their account whenever needed at low interest rates. The platform provides an effective trading strategy paired with a wide selection of cryptocurrencies and trading options to maximize profits.

products

Account Types

Paxful Financials offers four different account types to cater to the varying needs and investment capabilities of its users. The first account type, labeled “BEGINNER,” is suitable for individuals who are new to investing and want to start with a modest deposit. With a minimum deposit requirement of $100 and a maximum deposit limit of $199, this account type offers a return of 8.6% after just one day.

Moving up the ladder, the “INTERMEDIARY” account type is designed for individuals who have a bit more experience in the investment realm and can afford a higher initial deposit. With a minimum deposit of $200 and a maximum deposit cap of $1999, this account type offers a more attractive return of 14% after one day.

For more seasoned investors looking for higher potential gains, Paxful Financials offers the “CONTRACT” and “ENTERPRISE” account types. The “CONTRACT” account type requires a minimum deposit of $2000 and allows a maximum deposit of $5049. It offers a substantial return of 38% after two days, making it a more aggressive option for those willing to take on more risk in pursuit of higher profits. On the other hand, the “ENTERPRISE” account type is intended for larger investors, requiring a minimum deposit of $5050 and accepting deposits up to $19999. It offers a significant return of 72% after two days, making it a high-risk, high-reward option for experienced and financially capable individuals.

account-types

How to Open an Account?

Opening an account with Paxful Financials is a straightforward process. Here are the five steps to guide you through the account opening procedure:

Step 1: Visit the Website - Go to the official website of Paxful Financials. You can access it by typing “Paxful Financials” into your web browser's search bar and clicking on the official website link.

Step 2: Click on “Sign Up” - Look for the “Sign Up” or “Open Account” button on the website's homepage or navigation menu. Click on it to begin the registration process.

open-account

Step 3: Fill in Personal Information - You'll be directed to a registration form where you'll need to provide your personal details, such as your full name, email address, phone number, and any other required information.

open-account

Step 4: Verify Your Email - After submitting the registration form, check your email inbox for a verification link from Paxful Financials. Click on the link to verify your email address.

Step 5: Complete Account Setup - Once your email is verified, you may need to provide additional information, such as your country of residence, date of birth, and other details to complete the account setup. Follow the on-screen instructions to finish the process.

Leverage

Paxful Financials takes a conservative approach when it comes to leverage and does not offer margin trading on its platform. Margin trading involves borrowing funds to amplify one's trading position, which can potentially lead to significant gains but also carries higher risks. By not providing margin trading, Paxful Financials aims to protect its clients from excessive risk and encourages responsible trading practices. While some investors may seek higher leverage opportunities elsewhere, the absence of margin trading on Paxful Financials aligns with the company's commitment to prioritizing the safety and stability of its clients' investments.

Spreads & Commissions

As with any trading platform, Paxful Financials charges fees for its services. The spreads on Paxful Financials are relatively high, with an average spread of around 2% for Bitcoin trading. The spread is the difference between the buying and selling prices of an asset and represents the cost of trading on the platform. In addition to spreads, Paxful Financials applies a commission of 0.5% on all trades.

This commission is a standard fee that is applied to each transaction made on the platform. While the spreads and commissions on Paxful Financials may be higher compared to some other platforms, it's essential to consider the overall value proposition and features offered by the platform when evaluating its suitability for individual trading needs.

Trading Platform

Paxful Financials prides itself on providing a user-friendly and intuitive trading platform. The platform is designed to cater to both newcomers and experienced traders, making it accessible to a wide range of users. It offers a variety of charting tools that allow clients to analyze market data and make informed trading decisions. Additionally, the platform supports various order types, providing flexibility for users to execute their preferred trading strategies effectively. The user-friendly interface and comprehensive features offered by Paxful Financials' trading platform contribute to a positive trading experience for its clients.

Deposit & Withdrawal

Paxful Financials understands the importance of smooth and convenient deposit and withdrawal processes. As such, the platform supports a variety of deposit and withdrawal methods, including bank transfers, credit cards, and debit cards. However, it's crucial to note that the fees for deposits and withdrawals may vary depending on the chosen method. Clients should review the applicable fees and processing times before initiating any transactions to make well-informed decisions.

Customer Support

Customers can contact Paxful Financials' customer support through email, phone, or direct messaging. The provided contact information, including the email address (info@paxfulfinancials.com) and phone number (+44790099876), allows clients to get in touch conveniently, making it easier for them to seek assistance or address any issues they may encounter.

 Customer Support

Educational Resources

Paxful Financials offers a variety of educational resources for its users. These resources include a help center, tutorials, and webinars.

The help center serves as a comprehensive knowledge base, covering topics related to trading, platform navigation, and account management. It provides clear explanations to address common queries and concerns for both beginners and experienced traders.

Paxful Financials provides step-by-step tutorials guiding users through account setup, executing trades, and utilizing platform tools effectively. These tutorials help users navigate the platform with confidence and optimize their trading experience.

The platform also hosts regular webinars led by financial experts, covering market analysis, trading strategies, and emerging trends. Webinar participants can engage in discussions and seek insights, enhancing their understanding of the financial landscape.

Conclusion

Paxful Financials offers a diverse range of financial services, including trading and investment opportunities. While it provides convenience through a wide range of payment methods and boasts good liquidity, it is essential to consider its unregulated status and potential risks.

Traders should be aware of the high spreads, limited cryptocurrency selection, and lack of margin trading and stop-loss orders. We advise traders to conduct thorough research, carefully consider their risk tolerance, and explore alternatives with proper regulation to ensure a secure and reliable trading experience. Being well-informed and cautious will empower traders to make sound decisions and navigate the financial markets effectively.

FAQs

Q1: What is Paxful Financials?

A1: An online financial platform for trading and investment services.

Q2: Is Paxful Financials regulated?

A2: No, it is an unregulated broker.

Q3: What payment methods are accepted?

A3: Bank transfers, credit cards, and debit cards are accepted.

Q4: Are there any trading fees?

A4: Yes, a commission of 0.5% is charged on all trades.

Q5: Does Paxful Financials offer margin trading?

A5: No, margin trading is not available on the platform.

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郭长河
more than one year
I have been using Paxful Financials services for a long time. Support quickly responds to any of my questions and problems. So I’ll give them 5 stars!
2023-02-21 13:48
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民众
more than one year
Terrible customer support service. They are never on the chat even though it would appear they are online. Trading with them is a waste of time and money. Stay away!
2023-02-14 16:33
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FX1200822639
more than one year
Based on my friend's true experience, risking your capital on an unregulated forex broker will be quite dangerous as they might be a scammer.
2023-02-13 18:04
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低调63782
more than one year
There are some promotional materials on the website, which makes it hard not to suspect that this is an informal trading platform at all, and no regulatory information is displayed. Although his customer service personnel answered my questions very enthusiastically, but I think this is a black platform based on my years of experience.
2022-12-20 11:45
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