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Having evaluated PAXOS for its suitability as a trading venue, I find there are significant transparency issues that make it difficult for me to give a clear answer to commission-related questions. From my direct investigation, PAXOS does not present itself as a classic forex broker offering ECN or raw spread account types commonly seen in the market. Their focus appears to be on crypto brokerage, stablecoin payments, and blockchain infrastructure—areas rather different from spot forex trading with typical lot-based commission structures. Crucially, PAXOS does not provide public details about commission charges on per-lot transactions nor do they specify the types of trading accounts (like ECN or raw spread) that most forex traders would expect. For their stablecoin payment platform, they mention charging only the underlying blockchain’s network (gas) fees, making no reference to additional trading commissions. As someone who prioritizes transparency and strong regulatory oversight when choosing a broker, this opacity raises concerns for me, especially within the context of widespread user complaints about withdrawal issues and misleading business practices. Given that PAXOS is unregulated and there is no clear breakdown of fees or commissions, I am extremely cautious. For traders like myself who require full cost transparency and a robust regulatory framework, I would not consider PAXOS as a reliable option for commission-based trading, particularly when looking for classic ECN or raw spread accounts.