FXChoice Review

Company Information

Website: https://en.myfxchoice.com/

FXChoice is dedicated to serving its clients with the best and most affordable trading services. They are an STP broker offering their clients the most competitive spreads in the market for trading CFDs, and execute a total of 150,000 digital transactions a day.

Countries

FXChoice offers trading services in nearly all countries across the globe except Afghanistan, American Samoa, Belize, Guam, Iraq, Italy, North Korea, Northern Mariana Islands, Puerto Rico, Spain, Sudan, Syrian Arab Republic, United States, and US Virgin Islands.

FXChoice Trading Platforms

MT4

FXChoice offers the world’s most popular trading platform along with competitive trading conditions, quick order execution, and interbank liquidity. The platform is suitable for trading CFDs in Forex, Indices, Commodities, Crypto, and Shares. Traders can take advantage of Expert Advisor compatibility (Auto Trading Systems) and a wide range of analytical tools. Being a user-friendly trading platform, MT4 suits the trading requirements of most traders. Traders can make use of various chart analysis tools, multiple charts, and analysis displays to make their trading decisions. The MT4 trading is available for both your desktop and mobile.

MT5

FXChoice also offers one of the most advanced trading platforms- MT5. It comes with a wide range of innovative features to offer traders a comfortable and seamless trading experience. MT5 is not just the predecessor of MT4 but a completely new platform that comes with a wide range of trading tools and indicators to make trading easier and hassle-free for its traders. Traders can use a new order type- stop limit order in their traders. The platform also offers both the traditional netting and hedging options with EA compatibility and a powerful EA testing environment.

FXChoice Trading Accounts

FXChoice offers a MetaTrader 4 Classic account and a MetaTrader 4/5 Pro account that traders can choose from on the basis of their requirements. Based on their unique requirements, traders can either choose the individual account or the corporate account.

With the MT4 Classic account, traders get to take advantage of tight spreads, fast order execution, and commission-free trading. The leverage offered is up to 1:200 and the minimum deposit requirement is $100.

With the MT4/5 Pro account, traders get tight spreads and access to deep market liquidity. Along with no commissions and low minimum deposit requirements, you can use EAs as per your needs.

Pips Plus

Whenever a trader signs up with FXChoice, they automatically get enrolled in their Pips+ Loyalty Programme, regardless of the account type they are using. With Pips+, they get a rebate of up to $20 and a reduced ECN fee.

Your aim as a part of the Pips Plus programme is to move to the top of the programme (to Tier 1). This can be done by investing in greater equity or trading a higher volume. You have chances of getting a higher rebate on your classic account and on the pro account; you get to pay lower commissions with every climb.

FXChoice Payment Options

FXChoice offers a wide range of payment options to its traders that they can choose from on the basis of their needs. Their minimum deposit requirement is just $100 and can be made through various cryptocurrencies, bank cards like Visa & Mastercard, and other payment options like Skrill, NETELLER, AstroPay, etc.

The account currencies offered are USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, Litecoin, Bitcoin Cash, Ethereum, XRP, DOGE, and USDC.

Complete safety is ensured when a trade makes transactions with them using any of the transaction methods with the help of advanced encryption technology. All the encryption is using the SSL technology (Secure Socket Layer).

FXChoice Trading Tools

To enhance the trading experience of its clients, FXChoice offers a wide range of trading tools that they can choose on the basis of their requirements out of MQL5 signals, Myfxbook Autotrade, ZuluTrade, Expert advisors, and VPS.

MQL5 Signals

FXChoice offers a powerful signal service that’s automatically incorporated into their MT4 trading platforms. This means that you won’t have to install any third-party software to get signals. These signals are meant to be used by newbies and the good thing is that you don’t need any experience and can start earning from the very first day of your trading. It is up to you to decide whether you want to use signals with an EA or your own manual strategy.

Myfxbook’s Autotrade

Traders get Myfxbook’s AutoTrade fully integrated with FXChoice. It allows you to copy mimic trades of the most popular traders. To make use of this, all you will have to do is link your funded live account with your Myfxbook profile. After doing this, you will have to subscribe to your favourite traders to see what they are doing. When they execute a trade, it will get executed from your account as well and the best part is that you don’t need any joining fee.

ZuluTrade

FXChoice has joined hands with the social and copy-trading service ZuluTrade, which lets you copy trades of established traders. ZuluTrade has a proprietary tool ZuluRank that ranks traders on the basis of their performance in the market. This helps you in choosing the best trader to copy trades from based on what you are looking for. The platform maintains complete transparency to ensure that you have a great trading experience.

Expert Advisors

With an EA of your choice, you can trade automatically on your MT4 trading platform. Some of the most popular EAs that FXChoice offers include Commodity Robot, Crisis Killer, Fap Turbo, GPS Forex Robot, and Mega Droid. Based on what you are interested in, you can pick an EA for you.

VPS

The FXChoice VPS helps you trade without worrying about power failures or internet disturbances while keeping your private information safe and secure. As your trading device is connected to these, there are chances that issues with them will possibly arise. Even a minute’s failure could make you miss an important opportunity. With FXChoice’s VPS, you get a round-the-clock stable power source and internet connection.

FXChoice- Markets Offered

As CFD trading is becoming popular every day, traders have plenty of options to choose from. To meet each client’s needs, FXChoice offers a wide range of tradable instruments that they can choose on the basis of their needs. Their CFDs cover 4 major markets including:

Forex

Forex is the world’s largest financial market with approximately $6 trillion transactions on a daily basis. Traders get to trade up to 36 currency pairs.

Cryptocurrencies

Cryptocurrencies have become quite popular in the modern world, surpassing some traditional assets. You can trade the most popular cryptos with FXChoice.

Indices

Index CFDs work great when you wish to mitigate risk by spreading risk across the market.

Commodities

Trade commodity CFDs in accordance with how they are performing in the market. You can trade Gold, Silver, and Oil.

Shares

Invest directly in the stock market with FXChoice. It lets you trade shares of your favourite companies on its trading platforms.

FXChoice Contact and Customer Support

FXChoice offers great customer support 24/5 to its clients in different languages including English, Spanish, Thai, Farsi, Russian, Mandarin, German, Filipino, Bahasa Indonesia, French, Greek, Czech via phone, email, and live chat.

FXChoice Account Opening

FXChoice has an easy account opening process that can be done in four simple steps.

Register– You have to fill out a registration form with your details to open your account.

Open Live Account– The new clients need to click on “Open Live Account” and fill in the form that follows. The existing clients just have to log in to the back office and select “Open Live Account” to fill out the form.

Profile Verification– You have to verify your profile to start trading by clicking “Verify Profile”.

Download MT4 or MT5– Based on which trading platform you want to use, you can choose the platform. To use the web platform, you won’t need to download anything.

FXChoice Minimum Deposit

FXChoice’s minimum deposit requirement is $100 or equivalent in another currency.

FXChoice Demo Account

FXChoice offers a demo account that helps you improve your trading skills using a simulator. To enhance your demo trading experience, they offer different versions of demo accounts on all their accounts. There are no charges for using their demo account.

FXChoice FAQs

What is the maximum leverage offered by FXChoice?

The leverage offered depends on the instruments that are being traded.

Forex– 1:200 leverage, except: USDMXN- 1:50

Commodities– 1:200 – XAUUSD; XAGUSD and 1:33 – WTICrude; BrentCrud; WTISpot; BrentSpot

Cryptocurrencies– 1:33 – BTCUSD and 1:10 – ETHUSD; LTCUSD

Indices– 1:50 leverage

Shares– 1:5 leverage

Which country clients are not accepted?

Clients from the following countries are restricted from trading with FXChoice:

• Afghanistan
• American Samoa
• Belize
• Guam
• Iraq
• Italy
• North Korea
• Northern Mariana Islands
• Puerto Rico
• Spain
• Sudan
• Syrian Arab Republic
• United States
• US Virgin Islands

How to open the FXChoice trading account?

You have to go through an easy account opening process. Select “Register” once you open the FXChoice website and fill in the application form. You can download the trading platform based on your trading needs.

Does FXChoice offer VPS Service?

Yes, FXChoice offers the VPS service for USD 3000 or higher. You have to trade at least five lots during each billing cycle. If you keep doing it, you will only pay for the first month.

Is FXChoice a regulated broker?

FXChoice is regulated by the International Financial Services Commission (IFSC) of Belize.

What is the minimum deposit requirement?

FXChoice requires a minimum deposit of $100 to let you trade.

What are the commissions?

FXChoice doesn’t charge any commission on its Classic Account. But on its Pro account, the traders have to pay a commission of USD 3.5 per side (USD 1.5 for high-volume traders, see Pips+), per notional amount of USD 100,000.

What is the minimum lot size offered?

The minimum lot size offered is 0.01 lots.

Are spreads tight with FXChoice?

FXChoice offers one of the tightest spreads starting from 0.5 pips on its classic account and 0 pips on its pro account.

What is the margin level for hedge/lock positions?

The margin level is 50%.

What CFDs are offered for trading?

Forex CFDs- 36 currency pairs and other CFDs are Indices, Metals & Energies, Crypto, Shares.

How to deposit funds with FXChoice?

Deposits can be made through the wire, card payments, e-wallets, and cryptocurrencies.

How fast are the withdrawals?

Withdrawals get processed within 24 business hours. You receive a notification email once it gets processed.

Is there any withdrawal fee?

You may have to pay a small deposit/withdrawal fee because of the involvement of manual labour during transactions.

How helpful is the customer support team?

The customer support team is quite quick and responsive. You get your answers within 4 minutes in general.

Conclusion

FXChoice has been around for quite a long time and the reason is that it caters to all trader requirements. You can customise the trading platforms in accordance with your needs while trading Forex, Commodities, Shares, Indices, and Cryptocurrencies.