Broker FX Choice began in 2010. It has remained successful in the volatile financial markets for the last ten years. This shows their commitment and ability to bounce back from challenges. Start trading.
FXChoice broker reviews
FXChoice has been around since 2010 and is a popular online broker for Forex and CFD trading. Belize’s Financial Services Commission regulates it. Is FXChoice trustworthy?
It offers various trading account types and tools with good spreads, customer service, and trading platforms, making it a reliable choice.
Key Features
Account Currency: USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, BitcoinCash, Litecoin, Ethereum, and XRP
Minimum Deposit: USD 10
Leverage: Up to 1:1000
Spread: From 0.0 pips (Pro account), 0.5 pips (Classic), and 1.5 pips (Optimum).
Instruments: cryptocurrencies, CFDs on stock, commodities, metals, and energies.
Margin Call / Stop Out: 25/15%
FXChoice regulation
Is FXChoice a regulated broker? This broker is well-known and regulated by the Financial Services Commission (FSC) with license number 000067/501.
The security of the client’s funds is their highest priority; they are being held in segregated bank accounts and provide negative balance protection.
Is FXChoice regulated in the USA?
FXChoice USA does not follow US regulations and does not work with clients living in the USA.
The website clearly states they are not regulated by regulatory bodies like the Commodity Futures Trading Commission (CFTC).
CFTC RED List: The CFTC includes FXChoice on its “RED List”. This implies that FXChoice doesn’t fulfill the requirements to operate in the US.
FXChoice account types
| Feature | Classic Account | Optimum Account | Pro Account |
|---|---|---|---|
| Minimum Deposit | USD 100 | USD 10 | USD 100 |
| Spreads (starting from) | 0.5 pips | 1.5 pips | 0 pips |
| Minimum Lot Size | 0.01 lots | 0.01 lots | 0.01 lots |
| FXChoice commissions | USD 3.5 per side | Up to USD 2 per side | Up to USD 2 per side |
| Rebate | N/A | Up to USD 2 per side | Up to USD 2 per side |
| Leverage | Up to 1:200 | Up to 1:1000 | Up to 1:200 |
| Margin on Hedge Positions | 50% | 50% | 50% |
| Execution Model | NDD, Market | NDD, Market | NDD, Market |
| Margin Call / Stop Out | 25/15 | 25/15 | 25/15 |
| Forex CFDs | 36 currency pairs | 36 currency pairs | 36 currency pairs |
| More CFDs | N/A | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares |
| EAs Permitted | Yes | Yes | Yes |
FXChoice gives alternatives for Islamic swap-free, MAM accounts. However, PAMM and Cent are not offered.
FXChoice demo account
You can open Classic MT4, Pro MT4, and Pro MT5 demo accounts with sensible buying and selling situations and customizable virtual funds.
Note that paper buying and selling profiles expire after 90 days of inaction however may be stored open with everyday use. Contact customer service in case you want help resetting an expired demo account.
FXChoice assets & markets
FXChoice offers CFD trading in four sectors:
- Commodities – Predict commodities like gold, silver, crude, or US Brent oil
- Indices – Trade on six leading global indices, including US30 and UK100
- Forex – Trade on 36 popular currency pairs, such as EUR/USD and GBP/USD
- Equities – Over 50 shares such as Tesla and Apple
- Digital Currencies – Engage in trading Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH)
Copy Trading – FXChoice leads Myfxbook AutoTrade for automated copy trading.
FXChoice does not provide binary alternatives or get the right of entry to NASDAQ, USDTRY, or platinum.
Classic account holders can choose from a total of 28 currency pairs, while Pro account holders can choose from a total of 38.
FXChoice forex broker review
Trade 36 forex pairs with spreads starting at 0 pips, including the EUR/USD pair. With a $10 minimum deposit, it provides more forex brokers leverage than the majority of its competitors, and also round-the-clock customer service.
Maximum FXChoice leverage
The maximum leverage available is 1:200. This range you can increase or decrease leverage starts from a minimum of 1:10 the maximum leverage for indexes, products, and cryptocurrencies: is DE30 Index: 1:50.
FXChoice trading hours
The online product guide and the table below provide server times. The GMT+3 time zones are used for all times.
- Cryptos: Monday to Friday 1:00 – 23:45
- Indices: varies
- Silver and gold: Monday to Friday 1:00 – 24:00
- Forex: Monday to Friday from 0:00 to 24:00
- Oil: varies
How to deposit money into FXChoice?
Methods of FXChoice deposit:
- Access your back-office profile to make a deposit.
- Select ‘Deposit Express’ under the ‘Deposit’ tab.
- To finish the transaction, adhere to the instructions displayed on the screen.
- They will credit the net amount received (after deducting charges based on the amounts received) to your live trading account.
FXChoice minimum deposit
| Minimum deposit | |
|---|---|
| Classic Account | USD 100 |
| Optimum Account | USD 10 |
| Pro Account | USD 100 |
How to withdraw money from FXChoice?
The process of FXChoice withdrawal are as follows:
- Enter your back-office profile and log in.
- Select ‘EPAY’ from the ‘Withdrawal’ section.
- After completing the form, click “Send request.”
- An email will be sent to your email address with a confirmation link.
- Click the link to confirm the withdrawal.
FXChoice fees
- The rollover charges, fees, and commissions are specific to particular active asset classes and trading instruments.
- For Muslim traders, there are no fees for Islamic accounts.
- No information about the inactivity fee charged and period of inactivity.
Deposit methods, fees, and processing time
| Deposits | Payment Method | Fees | Processing Time |
|---|---|---|---|
| Bank/wire transfers | Limited availability; 3,000EUR minimum | Instant processing (up to 5 business days) | Only available in EUR, CAD, GBP, AUD |
| Skrill | Limited availability | Fee applicable (not specified) | Immediate processing |
| Neteller | Limited availability | Fee applicable (not specified) | Immediate processing |
| Bitcoin | No FX Choice fees | Automated processing | Processing fees from the payment system may apply |
| BitcoinCash, Litecoin, Ethereum, Ripple, Tether | No FX Choice fees | Automated processing | 0.5% processing fee from a payment system |
| FasaPay | 0.5% fee (max $5) | Immediate processing | – |
| Perfect Money | U.S. traders cannot use | 1.99% fee (unverified), 0.5% fee (verified) | – |
| Paysafecard | 10% fee | Immediate processing | USD, EUR, GBP accepted |
| QIWI | Limited availability | 6% processing fee, 1% conversion fee | Immediate processing |
| AstroPay | Limited availability | Fee applicable (not specified) | Immediate processing |
| Poli | AUD only, Australian users | Fee applicable (not specified) | Processing upon receipt of funds |
| VLoad | Limited availability | 6.5% fee | Immediate processing for registered accounts |
| SticPay | Limited availability | Fee applicable (not specified) | Automated processing |
| AirTM, AdvCash | Limited availability | Fee-free | Automated processing |
Withdrawal methods, fees, and processing time
| Withdrawals | Withdrawal Method | Fees | Processing Time |
|---|---|---|---|
| Bank/wire transfers | Limited availability Withdrawal min 1000EUR | 0.25% fee (min 150EUR, max 1000EUR) | Same-day processing or 8.5 hours after-hours |
| Skrill | 1% processing fee | Same-day processing or 8.5 hours after-hours | – |
| Neteller | Free to use | Same-day processing or 8.5 hours after-hours | – |
| Bitcoin | Unspecified mining fee | 1-3 business days processing | 30-120 minutes for funds transfer |
| BitcoinCash | 0.0002 BCH fee | 1 business day processing | 30-120 minutes for funds transfer |
| Litecoin | 0.02 LTC fee | 1-3 business days processing | Add 30-120 minutes post-processing |
| Ethereum | 0.005 ETH fee | 1-3 business days processing | Add 0.5 hours before the fund’s transfer |
| Ripple | 3.0001 XRP fee | 1-3 business days processing | 8.5 hours after-hours |
| Tether | Free to use | 1-3 business days processing | 8.5 hours after-hours |
| FasaPay, Perfect Money | 0.5% fee | Same-day processing or 8.5 hours after-hours | – |
| VLoad | 3.5% fee | Same-day processing or 8.5 hours after-hours | – |
| SticPay, AirTM, AdvCash | Free to use | Same-day processing or 8.5 hours after-hours | – |
Trading platforms
FXChoice gives a versatile buying and selling experience with the popular MetaTrader systems.
Metatrader 4 (MT4)
- Suitable for novices and skilled buyers
- Multilingual platform with advanced charting tools and customizable functions
- Quick and clean login
- Multiple timeframes, four pending order sorts
- Expert Advisors and single-thread approach testers
- Over 2000 technical signs and graphical items
Metatrader 5 (MT5)
- Successor to MT4, presenting a greater professional revel in
- Market depth view; get entry to more tradable assets
- More technical indicators, timeframes, and faster execution speeds
- Six pending order types
- Spacious dashboard for less complicated navigation
- Compatible with Windows and Mac PCs
Metatrader web trader
- Available for both MT4 and MT5 users, on hand without downloading any software program
- Same interface as the computer model
- Features encompass one-click trading (MT5 simplest), actual-time quotes, customizable charts, nine timeframes, and basic analytical items
FXChoice mobile app
- MT4 and MT5 mobile apps for easy buying and selling on iOS and Android gadgets
- Comparable functionality to computer structures
- Additional advantages consist of push notifications and interactive rate charts
- IPad users can display a couple of charts in a single window
- Download from the App Store or Google Play
Research and Education
- FX Choice has limited educational resources, offering a downloadable PDF guide on CFDs.
- However, its research, news, and education offerings are less comprehensive compared to competitors.
- The Myfxbook AutoTrade tool has a $1,000 minimum investment and is not accessible to beginners or investors from America, Iran, or Israel due to regulatory restrictions.
- Expert Advisors (EA) robot trading lacks substantial educational material, with only dated video tutorials from 2015.
FXChoice customer service
- Receive fast and effective support across multiple channels from FXChoice. Use their fast live chat service or submit a ticket online for support via email.
- Please call at +52 556 826 8868 or request a callback. Stay up to date with events via social media.
- Their customer service team can answer any questions you may have regarding withdrawals, server locations, electronic payments, and copy trading.
- Head office address: Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize.
Conclusion
Is FXChoice a good broker? Yes, they provide demo accounts, many third-party tools, and good leverage in both the Classic and Pro accounts. The option of MetaTrader systems caters to strategies, making FXChoice a terrific broking for each novice and expert.
Investors would benefit from having a wider range of research tools to help them learn more. These tools would complement the existing resources available. This would enhance their ability to make informed decisions. Additionally, it would be beneficial to have access to a variety of tools for different types of investments.
Pro Tip
To fully gauge the suitability of FXChoice brokers for your investment needs, consider exploring their capabilities in global markets. Enhancing your trading experience involves engaging with trusted forex brokers. With offerings that span CFDs, FX, stocks, and cryptocurrencies, staying well-informed about the markets is crucial. This approach enables you to make more knowledgeable choices, leveraging the full potential of your investment endeavors.
Frequently Asked Questions
1. Is FXChoice fake or a scam?
We can choose the classic and professional ECN accounts at this brokerage, benefiting from narrow market spreads. The regulated broker holds a license from FSC, a regulatory body known for its strict rules.
2. How do I open an FXChoice account?
Quick Guide to Signing Up & Trading:
- Use our sign-up link to register for a live account.
- Fill in the registration form, taking just a few minutes.
- Verify your profile by logging into the back office.
- Deposit a minimum of $100 into your FXChoice account using accepted payment options.
- Download MT4 or MT5 or use the WebTrader.
- Open the trading platform, identify opportunities, and enter a long or short position.
3. What type of broker is FXChoice?
Mainly focused on NDD brokers but offering some of the most competitive spreads in the market for trading CFDs.
4. How long does it take to withdraw money from FX Choice?
After receiving the withdrawal requests they might take process 1-3 days of business hours. Bitcoin withdrawals take 30 minutes to 2 hours, while electronic system withdrawals take 1 minute to 24 hours. It can take up to 5 business days for money to be transferred to a bank account.
5. Which trading platforms are supported by FXChoice?
- MetaTrader 4 MT4
- MetaTrader 5 MT5
- Mobile trading
- Web terminal for MT4 and MT5
6. What are the advantages of trading with FXChoice?
- Variety of order types for all trading styles
- True NDD/DMA environment
- Scalping allowed
- Hedging allowed
- The FIFO rule is not applicable
- Various deposit and withdrawal options
- Maximum fund security
7. What is the overall rating for FXChoice?
The overall rating is3.5 out of 5
8. What is the commission for FXChoice?
| The commission charged a negative figure under ‘Commission’ in trade history | |
|---|---|
| Classic Account | – |
| Optimum Account | – |
| Pro Account | USD 3.5 per side (USD 1.5 for high-volume traders, see Pips+), per |
9. Does FXChoice work in the USA?
FXChoice does not accept clients from the USA. The customers are from Canada, and Nigeria is welcome to open an account.
