FXChoice Review

Regulated by: IFSC

Headquarters: Belize

Spread: 0.0 pips (EURUSD)

Leverage: 200:1

Minimum Deposit: $100

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FXChoice is another offshore forex broker that accepts traders from the US. The Broker was established in Belize in 2010, and is regulated by IFSC in Belize. FXChoice claims that it is a real ECN broker which means that they never trade against their clients’ orders and they don’t profit from the clients’ loss.

FXChoice was established in Belize in 2010 and regulated by IFSC

The maximum leverage offered by FXChoice is 200:1 and the spreads are very attractive. FXChoice clients benefit from the valuable features such as negative balance protection, automated trading systems, a wide range of deposit / withdrawal methods, an award-winning and multi-lingual customer service.

Is FXChoice Reliable?

Having excellent experience as a Forex and CFD broker for fund managers, private clients and institutional investors, FXChoice has been striving to deliver the best trading service and support to its clients for the last 10 years. The outstanding service won FXChoice the coveted LiveHelpNow Exceptional Customer Service Award five times in 2016 alone.

FXChoice allows traders to invest in more than 40 currency pairs and a multitude of other CFDs. And with the help of two excellent platforms, the Broker provides its customers a distinct trading experience. As a matter of fact, FXChoice executes more than 15000 trade orders in a day through its NDD technology.

FX Choice has its headquarters located in Belize and operates under the supervision of International Financial Services Commission (IFSC). IFSC is not one of the preferred regulators in terms of strict monitoring on the brokers under its jurisdiction. However, it concentrates more on the licensing process and code of conduct which ensures that FXChoice has to maintain maximum security for the clients’ assets. In addition, FXChoice implements the so called positive price correction rule which guarantees that the clients’ balance never becomes negative.

Account Types

In terms of account types, FXChoice offers two different alternatives. The first account type is Classic and the second one is Pro. Those two account types differ from each other in a fundamental way. The Classic type of accounts are completely commission free. Therefore, they come with higher spreads. On the other hand, Pro accounts act like an ECN account which means that traders get lower spreads, however, with an extra commission paid per lot traded. FXChoice offers corporate accounts along with the individual accounts so that you can register the account under your company if you prefer so.

Spreads as low as 0.5 pips on Classic account

FxChoice asks for is only $100 as the initial deposit for all account types. Spreads differ according to the account type. The spread for EURUSD on a Classic account could be as low as 0.5 pips with no additional transaction fee or commission. Pro accounts have tighter spreads such as 0.0 pips on EURUSD. However, this low spreads come with an extra cost; $3.5 for each lot traded. The maximum level of leverage for each account type is 200:1 which is adequate compared to industry standards.

Trading Platforms

FXChoice offers a variety of options to its clients regarding the trading platforms. MetaTrader 4, MetaTrader 5, and Myfxbook Autotrade are the trading platforms which FXChoice clients can choose from. As far as the MT4 and MT5 platforms are concerned, they not only offer access to the CFD and forex market but also allows customers to invest in the options and futures market. If you choose the MT5 platform, you are given the chance to buy and sell company stocks as well.

MT4 and MT5 platforms are coded with MQL programming and are equipped with auto-trading technology through the Expert Advisors (EAs). MT4 is available for both desktop PCs and mobile phones. It also has a web version called the MetaTrader 4 terminal which enables you to login to your trading account and trade without installing any software. As for MT5, it’s available for FXChoice clients on desktop and smartphones.

In addition to the MT4 and MT5 platforms, FXChoice clients are granted access to the auto trading platform known as Myfxbook. The Myfxbook hosts an online Forex social trading community where traders can follow and copy the trades of professional forex traders from all around the world. The Myfxbook platform allows traders to copy the orders of the preferred traders directly to their MT4 account without any fee.

Another distinct service that FXChoice provides its customers is free VPS for the clients who have a minimum of $3000 balance or trade at least 5.0 lots on a monthly basis.

Deposit and Withdrawal Methods

FXChoice allows its clients the use of different methods to deposit and withdraw funds. Those methods are credit card, debit card, e-wallets, Fasapay, Bitcoin, Skrill, Neteller, Perfect Money, ePayments, Trustly, Astropay, and PaySafeCard.

Furthermore, customers will have the option to open trading accounts in various currencies including USD, EUR, GBP, AUD, CAD, and Bitcoin.

Conclusion

Although FXChoice is an offshore forex broker, the Broker is proving outstanding with regard to the excellent forex trading services and customer support that it offers. With more than a decade of experience in the industry, this NDD broker endeavors hard to give the customers the best trading conditions and customer assistance.


Broker Detail
Adress: Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize
Phone: + 501 227 27 32
Web:

http://en.myfxchoice.com

E-Mail: [email protected]
Regulator: IFSC (License number: IFSC/60/191/TS/17)
Year Founded: 2010
Instruments
Forex:
Precious Metals:
Energy:
Soft Commodities:
Indices:
CFDs:
Stocks:
ETFs:
Bonds:
Options:
Account Options
ECN Account:
Swap-Free Account:
Nano Account:
MAM / PAMM Account:
Demo Account:
Funding Methods: Wire Transfer, Debit Card, Skrill, Neteller, Bitcoin, Fasapay, Perfect Money, PaySafeCard, epayments, Trustly, QIWI, AstroPay
Withdrawal Methods: Wire Transfer, Debit Card, Skrill, Neteller, Bitcoin, Fasapay, Perfect Money, PaySafeCard, epayments, Trustly, QIWI, AstroPay
Customer Services
Live Chat:
24 Hours Support:
Languages: Czech, English, Farsi, German, Greek, Portuguese, Spanish, Thai
Platforms
Supported Platforms: MetaTrader 4, MetaTrader 5
Webtrader:
Mobile: IOS, Android
Trading
Leverage: 200:1
Spreads: As low as 0.0 for EURUSD at Pro Account
Minimum Deposit: $100
Fixed Spreads:
Automated Trading:
Hedging:
API Trading:
Negative Balance Protection:
Accepts Clients from the US:

Risk Warning:

Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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