Contents
FXChoice offers multilingual customer support 24/5 via phone, email and live chat. There is also a Help Centre that provides questions and answers across a variety of topics including Accounts, Trading Platforms, Withdrawals/Deposits, Trading Services and more. FXChoice stood up in many areas among offshore brokers, including having minimum regulatory oversight and multilingual support. When it comes to trading with Forex brokers located in countries with lax regulation, the reputation of the broker based on past performance is the most important factor to evaluate. We were pleased to find that FXChoice offers multilingual customer support in eight languages, including English, German, Czech, Greek, Spanish, Italian, Portuguese and Thai. This one area where FXChoice stood out among other major offshore brokers and scored a high rating.
Moreover, the fact that they offer MT4, MT5, mobile apps, and a web only based platform gives customers fantastic flexibility. FXChoice operates several different account types – the commission percentage varies depending on which account you choose. Alternatively, their pro account has a commission level of $3.5 per notional amount of $100,000. FX Choice also offers a Pips+ program which is essentially a loyalty reward program. There is five tiers and each one reduces the amount of commission you pay on pro accounts. FXChoice offers MT4 and MT5 mobile apps (See the MetaTrader 5 brokers‘ list and reviews).
Pros and Cons
Withdrawals via wire incur a 0.25% fee, 1% via Skrill, 0.5% via Perfect Money, and there are no fees via Neteller. Trading currency online is becoming increasingly popular, and you can get started in minutes. All you need is a computer or device with internet access and you can make your first trades. To begin trading select a licensed provider from our list of recommended forex brokers. In 2010, the MT5 trading platform was launched by MetaQuotes to succeed the already popular MT4 trading platform.
Fewer trading instruments than other brokers – FXChoice has a lack of trading instruments compared to other brokers. Although the main asset classes are covered, there are only 36 currency pairs, while most brokers offer sixty or more. There are just 55 stock CFDs, while most brokers offer thousands. A wide range of funding methods – FXChoice offers numerous deposit and withdrawal methods such as Bitcoin, Bitcoin Cash, wire transfer, Skrill, Neteller, Fasapay, Perfect Money, ePayments and Qiwi. True ECN brokerage model – FXChoice offers some of the most competitive spreads in the market for trading forex and CFDs.
It also keeps its client’s money separated in institutions and away from the company’s funds. The brokers’ platform also has a reliable risk management department that regularly monitors management operations to ensure that the platform complies with the regulatory obligations. The FXChoice security measures are excellent, too, as they do everything in their capacity to protect clients’ capital. The deposits are held safely by the platform in segregated accounts, and they are kept entirely separate from the corporate ones.
The company also offers prompt and professional multilingual support via live chat 24-hours per day, five days a week. FXChoice also offers support via email and provides a callback service. From all corners of the globe, thousands of traders have already benefited from our unbeatable trading conditions and rock-solid service. As the most popular trading platform in the world, this software allows you to trade CFDs in a variety of markets.
The broker offers various ranges of assets – currency pairs, stocks, commodities, indices, and crypto. The broker offers Islamic accounts to clients following the Muslim faith. Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed.
We also love the economic calendar which provides you with up to date news and events about important global economic changes that could cause price fluctuations. Also, FXChoice covers fees for deposits via Cards and Wire transfers. However, the payment providers can charge possible fees according to the client’s country of origin and applicable laws by other providers.
What Can You Trade With FX Choice?
FXChoice has years of experience in the market and it has gained the traders’ trust. The broker offers traders from all corners of the world a savvy, friendly, and intuitive space to access the forex and CFDs market. FX Choice customer service options extend to phone, live chat via the broker’s website, and email. These standard options are available on a 24/5 basis, as with many competing brokers. For phone support, the company operates a callback service from their Belizean headquarters.
This of course attracted numerous brokers and also unscrupulous enthusiasts as well which made the reputation of Forex trading and brokerage run like a scam. There is also the possibility of registering corporate or MAM accounts. Note – FXChoice Reviews are not to be considered as an endorsement or investment advice of any kind. Clients are requested to seek financial advice from experts before making trading decisions on digital platforms. Traders can use these educational resources alongside a free to use demo trading account.
This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. Based on our research, we have assigned the following ratings to FXChoice. To know more about how we rate brokers, read our review process. It was great to find that FXChoice also offers the Web Trader version of MetaTrader.
This is why the simplicity in the design wins – it is very user-friendly. Between 74-89% of retail investor accounts lose money when trading CFDs. Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. There is an FX education hub that is dedicated to helping you improve your knowledge of the markets and trading skills.
- It is a trading technique which is not allowed on the broker’s platform.
- In this FXChoice pros and cons guide, we offer a section of advantages, disadvantages and a list of points that may be advantages or disadvantages depending on your perspective.
- The broker is regulated in Belize by the International Financial Services Commission and currently carries out thousands of transactions daily for its large and growing user base.
- These rankings are data-driven, based on metrics provided daily to client dashboards.
- Another unique type of account is the Islamic account and both the classic and pro accounts can be converted to Islamic accounts that are swap-free at FXChoice.
The web platform’s interface is similar to the award-winning desktop version and is therefore just as easy to use. I like how it is always up to date and means I can use a friend or fxchoice review relatives’ computer if I do not have my own handy. MT5 is not just a new version of MT4, but rather a completely new platform with new features that build upon the success of MT4.
The broker is regulated in Belize by the International Financial Services Commission and currently carries out thousands of transactions daily for its large and growing user base. Note that deposits maintained by traders are kept in segregated bank accounts. For additional security, the platform uses tier-1 banks that measure the banks’ strength and health. Additionally, FXChoice needs to submit every data on trading volumes and unimpaired capital to be under the regulation of FSC Belize.
Forex Trading Millionaires – How they did it
However, once you have made your first deposit, you can deposit any amount, depending on the payment method. Some methods, such as e-wallets, do not impose a minimum deposit, essentially meaning you can deposit just one dollar to your account. With the Classic Account, you’ll earn rebates, and with the Pro Account, you’ll get discounted commissions.
Traders can use our free service but should do their own due diligence and make their own decisions. Rates, terms, products and services on third-party websites are subject to change without notice. This compensation should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email.
Regulation and Security
If it is too much for you, then Fusion Markets have a $1 minimum deposit requirement. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant. Please note that some methods may only be available to specific countries. The available options include wire transfers, various e-wallets and several well-known cryptocurrencies. The minimum deposit and withdrawal amounts vary depending on the payment method, as do any applicable fees.
MT4 was developed by trading software company MetaQuotes and has won multiple awards. The FXChoice version of MT4 combines the platforms standard features with real-time price feeds from global markets, fast execution speeds, competitive conditions and interbank liquidity. It has a user-friendly interface and https://broker-review.org/ multiple built in tutorials for beginners whilst having a great range of technical indicators and functions for the more advanced traders. Whatever your interests, there is something for everyone to trade. The broker executes a trade every 4 seconds on average with daily transaction totalling over 15,000.
For those familiar with MT4, the most important features are still there with a few more to enhance the overall trading experience. The MT5 features include more order types, depth of market display, additional indicators, additional time frames and a powerful EA testing environment with real tick data. Just like MT4, it is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). FXChoice maintains a well-developed knowledge base on its website.
If you’re approved, you can manage multiple trading accounts from one MT4 or MT5 account. Although FXChoice doesn’t offer extensive forex trading courses as many other brokers do, the company provides weekly live webinars on Mondays. If you register with FXChoice, you can expect market news coverage, an economic calendar and plenty of instructional articles by trading gurus that will help you develop your strategy. You can deposit and withdraw from your FXChoice trading account using various cryptocurrencies and stablecoins. The options include Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP and Tether.
1 thing to keep in mind is that you don’t necessarily need to have any cash on your accounts. I know fxchoice is trust worthy broker but trading expenses are high , wide spreads and high commissions. So since I was able to get a better understanding of the withdrawals, I felt it was appropriate to update my review rating. You need to contact your Money Manager if you are unhappy with the way he traded on your behalf. We do not recommend any particular Money Manager; we simply provide an environment for Money Managers to trade on their clients’ behalf. Take your time to review brokers, and make sure they offer the right trading to suit your needs.
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. The commission is the important module of “Forex Trading” because we all know that a lot of brokers don’t charge any fee from the beginner’s account. Apart from that, by providing a fantastic user experience along with advanced chart tools and a HUGELY customized mobile app it states a bold commitment. We constantly inspect the market and collate only the very best forex brokers so you don’t have to. AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities.