FXChoice Review 2022

I have been working with this broker since 2020 and so far there has never been any problem, whether technical on the platform or when it comes to deposits and withdrawals. I have been using this forex broker for the last 4 years and my experience has been positive. I can trade various instruments such as gold, silver and even cryptocurrencies such as bitcoin, ethereum and ripple. There even have an account available that is denominated in bitcoin, which is really wonderful, since your account will naturally grow as bitcoin price increases. This website includes information about cryptocurrencies, contracts for difference and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.

Additionally, the rollover fees apply depending on the trading instrument and asset class. For Islamic accounts owned by Muslim traders, there are no rollover fees. MetaTrader 4 was created by a Russian company known as MetaQuotes and it has won several awards. The MT4 FXChoice version combines the standard features with the real-time price feeds gathered from the global markets, competitive conditions, interbank liquidity, and fast execution speeds.

And it became one of the Top 100 Companies of LiveHelpNow in 2018, making FXChoice forex broker one of the best options in this cryptocurrency industry. Note that traders from the United States can also trade on this platform even though they are not regulated in the US. FXChoice is operating as a No Dealing Desk offshore forex broker, headquartered in Belize.

It has also been around for a decade, which means it has built up some credibility. It is known to have excellent service and support; LiveHelpNow has awarded it the Exceptional Customer Service award on multiple hycm account types occasions. The spreads for FX Choice vary based on what kind of account you use, but they do not differ all that much. A spread is the price difference between where a trader can purchase/sell an asset.

But, when it comes to professional accounts, they do have some commission and fee. Let’s have a look at the commission and fee for both account types. They have a number of low-level customer service awards under their belt from a company no one’s really ever heard of. And their website boasts positive reviews from various social platforms. Unfortunately, the majority of existing FX Choice reviews read like the reviewer simply went to their website and wrote down everything it says. TradingBrokers.com aim to provide unbiased broker reviews to give traders a clear understanding of the different brokers available to them.

Educational & Trading Tools

This Forex brokerage offers multiple software options vis-à-vis the trading platforms. These include MetaTrader 4, MetaTrader 5, and mobile trading options. With MetaTrader 4, Forex traders and CFD traders get to enjoy a powerful set of analytical tools and resources designed to automate trades and allow for maximum functionality. This trading platform is the next generation MT4 platform, and provides clients with additional market analysis, resources, and order types.

Is FXChoice available in USA?

Regulation & Licensing

The broker ensures that all client funds are held in segregated bank accounts and offers negative balance protection. FXChoice does not accept clients from the United States of America (USA). Clients from Canada to Nigeria can sign up for an account, however.

We do not present any investment advice or guarantees for the accuracy and reliability of the information. Both iOS and Android users can download their respective MT5 mobile versions here. Both iOS and Android users can download their respective MT4 mobile versions here. I tried several of my FX Choice accounts and they all failed. Me personaly i am thibking to stop my learning trade account with fx choice . If nothing change i go for other broker where i dont pay extra fee .

The best method to learn nowadays is online, and I have specialized in recording online trading courses, which brings the traders what they need to start trading professionally. FX Choice is a long time on the market and has built forex brokers a good reputation. However, it is considered a risky broker by many traders because it lacks outside regulation. While the regulation is fairly liberal, there is some which makes it more trustworthy than some other brokers.

With FX Choice, you’ll be getting access to multiple types of trading accounts along with an active traders community. The pro account charges an additional commission up to $3.5 on top of the spreads which come from direct market liquidity provided by some of the largest banking institutions in the world. Spreads will tend to be significantly tighter than on the classic account and start from just 0 pips. If your strategy requires tight spreads this may be your account of choice. The broker has a decent selection of handpicked expert advisors that you can choose form.

Review Contents

Overall, FXChoice maintains an excellent choice of deposit and withdrawal methods. Many forex brokers deduct funds from the trading accounts as compensation for the account maintenance, if they are not accessed or used for a considerable period. However, the FXChoice trading platform does not charge an inactivity fee. Opening an account with FX Choice presents traders with two primary options. FXChoice provide you with some of the best trading platforms for Forex and CFD trading – MetaTrader 4 and MetaTrader 5 .

FXChoice also has consistently good user reviews, which allows you to trade with confidence. In this review, you can find all the information you need to decide whether FXChoice is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FXChoice scored in each of our high-priority categories. Which withdrawal options are aloud, are there minimum amounts, fees etc.

Customer service is terrible and got robbed Service use: LiveLength of use: over 1 Year

They do have a code of conduct, but there is not a lot of enforced compliance-checking, reporting, or supervision. Tier-1 jurisdictions are considered to be the best, and if a company is regulated by a tier-1 regulator, it is generally considered trustworthy. Examples of tier-1 regulators are the Securities Features Commission, the Commodity Futures Trading Commission, and the Swiss Financial Market Supervisory Authority. However, FX Choice is still considered high risk by many people in the field because of the lack of outside regulation. Some of the methods are not available in particular countries.

FXChoice is one of the most popular trading platforms that provide different programs and bonuses to allow investors to earn more. The referral program at FXChoice gives about a 15 percent bonus what is qtum every time a trader who refers to another opens an account and starts trading. The brokers’ trader who refers may also land up earning $250 or its equivalent, based on the trading volume.

Trading Experience

These are both excellent platforms that give the average retail trader quick and easy access to trade the markets. I have been using MT4 for many years and it does more than enough to meet my needs. It is provided by most brokers compared to MT5 which has not quite met the same level of popularity as of yet. However, MT5 does have some additional features and functionalities whilst it is considered to be more of a stock trading platform.

fx choice review

These include an economic calendar and virtual private servers for steady trading. FXChoice has also collected several prestigious awards within the industry, many of which are centered around their excellent customer support services. Customer support is another aspect where FXChoice truly shines, as evident by their winning of the 2020 LiveHelpNow Challenge. Clients have access to 24/5 assistance, most conveniently via live chat, and a callback option exists, along with a web form. The FAQ section answers most of the common questions, and FXChoice states it attempts to respond within 24 hours. Traders may face internal withdrawal costs, depending on the payment processor.

Yet, the broker gained global acquisition since operating for over ten years in the world of trading. The broker offers competitive and transparent conditions and provides a reliable trading environment. Please also understand that we reimburse VLoad deposit fees, and cover 50% of the withdrawal costs.

Is FXChoice a market maker?

They focus on platforms in MT4 and MT5, which are some of the most well-known and heavily used in the industry. This focus alone will serve to ensure traders will always gravitate toward FX Choice. The combination of these two factors alone should be enough to ease the mind of prospective traders in knowing that FX Choice is a trusted forex broker.

fx choice review

Otherwise, there are still a variety of methods, including cryptocurrencies that can be used to withdraw. On all accounts, the minimum deposit amount is 100 USD, or the equivalent in your base currency. This is the standard minimum across most other brokers, so it’s not surprising to see this amount. On a negative note, there are brokers that would accept smaller deposits, but you’re not likely to be able to do much with a smaller deposit in your trading account. With no pressure to make a large deposit, everyone can benefit from the reasonable deposit minimums. Usually, in order to benefit from a better account type, you’d be expected to deposit a large amount of cash, which just isn’t feasible for many of us.

The FXChoice MT4 platform comes with mobile versions for use on iOS devices as well as Android smartphones and tablets. A highly-competitive active trader program that offers substantial rewards for increased volumes of trading. Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency. Let’s now move towards the account types of “FX Choice Broker.” Therefore, if you want to elect a broker which is appropriate for you then, first of all, go for a HIGHLY regulated one as it’ll provide additional security to your capitals. VPS is free for traders who maintain at least $3,000USD trading balance and trade at least five lots per month.

Deposits are fee-free using AirTM, Epay, VLoad, Bitcoin, and Wire Transfer. There is a deposit fee when using credit/debit card, Skrill, Neteller, and Perfect Money. Withdrawals via wire incur a 0.25% fee, 1% via Skrill, 0.5% via Perfect Money, and there are no fees via Neteller. The company prides itself on providing clients with excellent customer support and service.

While we loved the many deposit and withdrawal methods, most of which are made available quickly, we felt that Bank Wire was an exception, due to steep deposit and withdrawal minimums. We also wish that credit/debit cards would be included in the list. The leverage could be a bit higher, but certainly wasn’t a deal breaker for us.

I am using FXchoice on mt5 on my phone, signing up with fxchoice and opening a demo account was super easy, they are very quick to reply to messages and help if you get stuck. The selection of things you can trade is great, everything from crypto to gold and very easy to change settings etc. We are delighted to hear that you’ve had a great experience with us and our instruments in Precious Metals and Cryptos. It’s also good to see your recommendation and praise for our withdrawals. We’re glad to see that our customer service were able to solve your queries promptly and accurately.

Leverage is a powerful and useful tool that might magnify your income. One of the peculiarities Forex trading is popular for is its leverage opportunity. This means, with initially small capital you have the potential to gain quite good exposure to the markets. I also have accounts with other brokers and I could login to all those accounts without any issues. Your first attempt to log in failed because you tried to log in several hours BEFORE the markets opened. Your second attempt to log in was successful AFTER the markets opened, we note.