WikiFX

Sagot

As an independent forex trader, clarity on swap fees and overnight financing charges is essential for me when evaluating any broker. With PAXOS, I immediately noticed a significant issue: there is no transparent or public disclosure regarding its swap or overnight costs. In my experience, a lack of clear information about fees is always a red flag, especially as these costs can materially impact trading performance over time. While some brokers might offer detailed breakdowns of overnight financing rates—allowing traders to compare, strategize, and factor these into their position management—PAXOS leaves much of this up in the air. Additionally, PAXOS is not regulated by any significant financial authority. As someone cautious about counterparty risk, this lack of oversight makes fee-related opaqueness even more concerning. Several user exposures highlight not just withdrawal issues but also general unreliability, further reinforcing my hesitancy to trust PAXOS with the ongoing costs associated with leveraged positions. In short, without published swap fee data or a reputable license, I am unable to accurately compare PAXOS’s overnight charges to industry standards. This lack of transparency, combined with broader trust concerns, means I personally would not consider trading with them—especially when reliable, regulated brokers openly provide such critical information. For me, such uncertainty in one area often signals hidden risks elsewhere.