Is PaxForex a Scam? Regulation Check 2026
We checked PaxForex's licence in the official FSA register. Here is what the public records say.
Verdict
PaxForex is NOT a scam. It holds FSA licence SD061, authorising it to offer trading services in Nigeria.
How to verify on the official register
| Regulator | FSA FSA Seychelles Financial Services Authority (FSA) |
| Licence Number | SD061 |
| Regulated Entity | PaxForex Ltd |
| Founded | 2010 |
What FSA regulation means
FSA-regulated brokers must keep client funds in segregated accounts, provide negative balance protection, and submit to independent audits. Clients can file complaints with FSA directly.
What FSA regulation means for your money
- Client funds held in segregated bank accounts, separate from PaxForex's own capital
- Negative balance protection — you cannot lose more than your deposit
- Right to file complaints directly with FSA if PaxForex fails to resolve your issue
- PaxForex submits to regular independent financial audits under FSA oversight
Frequently Asked Questions
Is PaxForex a scam or legitimate?
PaxForex is NOT a scam. It holds FSA licence number SD061. FSA is one of the world's most respected financial regulators. The licence is publicly verifiable in the FSA official register.
How do I check PaxForex's FSA licence?
Go to the official FSA website and use the public register search. Search for licence number SD061 or the entity name. The record will confirm PaxForex's authorisation status and the scope of its permissions.
Are my funds safe with PaxForex?
As an FSA-regulated broker, PaxForex must keep all client funds in segregated bank accounts, completely separate from company funds. This protects your deposits even if PaxForex encounters financial difficulties.
What protection do I have as a PaxForex client in Nigeria?
In Nigeria, PaxForex operates under FSA supervision. You are entitled to: segregated client funds, negative balance protection (you cannot lose more than you deposit), and the right to file complaints directly with FSA.
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