FXChoice Forex Broker Review

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FXChoiceFXChoice is an award-winning Forex/CFD Broker owned by FX Choice Limited. The broker has been in the industry for a while now as it was established in 2010. Their Major Users are private clients, fund managers, and institutional investors.

They’re notable for their great customer service as they’ve been awarded the Exceptional Customer Service Award by LiveHelpNow on several occasions.

Basic Information on the FXChoice Broker

  • Regulator – CySEC
  • Trading Platforms – MT4, MT5, Mobile Trading, Web Terminal
  • Available since – 2012
  • Minimum deposit – $100
  • Leverage – Up to 1:200
  • Minimum Trade Size – 0.01 lots
  • US Clients – Yes
  • Products/Instruments – Forex, CFDs & Spot Metals
  • Demo account – Available
  • Mobile Trading – Available

AssetMagnate Rating: 

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FXChoice spreads

The Broker offers tight spread starting from 0 pips.

Regulation

FXChoice is a licensed and Regulated broker as they are licensed in Belize by the IFSC with license numberMIFSC/60/191/TS/16, Check Here for more details on the broker Regulation.

Account Types

FXChoice offers trader Two types of trading accounts which includes the Classic Trading Account and the Pro Trading Account. The Major difference between both account types is that the Classic Trading Account is commission-free and gives the user higher spreads, while the Pro account is commission based and provides tighter spreads due to the ECN environment.

Difference Between the Classic Trading Account and the Pro Trading Account

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FXChoice Traders Conditions

Minimum deposit

FXChoice offers traders a minimum deposit of $100 Which is a considerable amount for investors with a low Capital.

Maximum Leverage

The Maximum Leverage allowed on FXChoice is 1:200, which is a standard Leverage in the industry.

Trading Platform

The broker offers over 40 currency pairs to be traded and various CFDs on indices, commodities, precious metals and energies. FXChoice executes over 15,000 digital transactions per day using their NDD technology.

The broker can be accessed through several trading platforms including MetaTrader4, MetaTrader5, Web-based trading, and mobile trading platforms for iOS and Android.

Also, Automated trading can be done through Myfxbook Autotrade, expert advisors, MQL5 Trading Signals and through a VPS (Virtual Private Server).

FXChoice Services

The broker offers a variety of other trading services including

  • MQL5 Signals – This is a unique service which provides Trading Signals, allowing clients to shadow the trades of seasoned trading veterans (Signal Providers)
  • Myfxbook Autotrade – FXChoice allows a full integration of Myfxbook’s AutoTrade which is essential for traders that are willing to Autotrade using Myfxbook.What is AutoTrade? AutoTrade is a Copy Trading service managed by Myfxbook which allows you to automatically copy the trades of other expert traders. All you need to do to get started with AutoTrading is to get your funded live account linked with your Myfxbook profile. Once that has been done, simply subscribe to your favorite traders and whenever they place a trade, it will be automatically replicated on your account.
  • Expert Advisors – This a trading service provided by FXChoice through the MT4 platform which enables you to trade automatically.
  • VPS – VPS  which stands for Virtual Private Server is a service for traders to run automated algorithmic strategies 24 hours a day 7 days a week on a Virtual Machine Which is ideal for traders due to the flexibility and stability of this service.
  • Live Economic Calendar – Knowing the importance of Economic Calendars, FXChoice provides their users with an up-to-date, trustworthy Economic Calendar which is available from within your FXChoice Backoffice.
  • Pips+ for Pro accounts – The Pips+ programme is a service provided to reduce the trading cost for the most active traders and it consists of five tiers. All Traders using the Pro account are naturally enrolled in this service.

Payment Methods

FXChoice offers a variety of payment methods, making it easy for clients to deposit and withdraw money. The payments offer offered by the broker includes –   Wire Transfer, credit/debit card and e-wallets which Skrill, Neteller, Perfect Money, Bitcoin, ePayments, FasaPay, Trustly, PaySafeCard, and Astropay.

Customer Service

FXChoice offers one of the best customer services in the industry as they’ve been awarded the Exceptional Customer Service Award by LiveHelpNow on several occasions. They offer a 24/5 live chat service and they can be contacted through a Mobile number, FAX and email.

Telephone (Belize): +501-227-2732, + 501 227 27 56
Fax: 501-227-2756
Email: [email protected]

Pros:

  • Excellent Customer Service.
  • US traders accepted
  • Tight spreads from 0 pips
  • Scalping allowed
  • Hedging allowed

Cons:

  • Liberal regulation

Conclusion

Based on our research, FXChoice is a suitable broker for all traders (experts and beginners) and very importantly has a great customer service experience which is very essential. Also, there has been great reviews about the broker from current users.

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