FXChoice is a Belize-regulated online forex broker that accepts clients from all over the world, including the United States and Canada. They are an ECN broker, which provides direct access to the liquidity providers, offering competitive trading fees, fast execution speed, and easy account management features. The broker offers forex and CFD trading in a wide range of financial products, including currency pairs, cryptocurrency, stocks, indices, metals, energies, and other commodities, through the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
FXChoice Review Introduction
In this FXChoice review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including FXChoice.
FXChoice Platforms & Tools
The broker provides their clients with MT4 and MT5 platforms, which are two of the most widely used trading platforms in the world. Both platforms have a user-friendly interface and are available as non-installable web-based terminals, installable desktop applications for Windows and Mac systems, and mobile trading apps for Android and iOS devices. The MT5 has more technical tools and provides access to the stock market, in addition to other assets.
There are many useful third-party trading tools provided by this broker, such as the MQL5 Signals, Myfxbook Autotrade Service, FXChoice VPS, and Live Economic Calendar.
FXChoice Research & Education
FXChoice only has an FAQ section that covers general questions about the broker and their trading services, as well as basic market and platform questions. But apart from that FAQ section, this broker does not have any educational section on their website at the moment, and there is no other form of educational material from them.
FXChoice Trading Accounts
This broker offers two main account types — classic and pro — as well as a multi-account management account for asset managers:
- MT4 Classic Account: The commission is added to the spread, which starts from 0.5 pips, and the minimum deposit is $100.
- MT4/5 Pro Account: Spreads start from 0 pip, but there’s a commission of up to $3.5. There’s up to 1:200 leverage, and the minimum deposit is $100.
- Multi-Account Management (MAM) Account: This is for experienced traders who manage the account of other traders.
FXChoice Account Funding
The broker allows different options for account funding and withdrawals, including wire transfer, credit/debit cards, online payment processors, and cryptocurrencies. Acceptable credit/debit cards are MasterCard, Visa, UPayCard, and PaySafeCard, while the acceptable e-payments options are Skrill, Neteller, Qiwi, Fasapay, Perfect Money, AstroPay, Poli, and Vload. Bitcoin, ethereum, litecoin, and bitcoin cash are the allowed cryptocurrencies.
Different methods carry different transaction fees and processing time. Some methods may only be available to specific countries. Bank transfers usually take a few business days to clear.
FXChoice Customer Service
FXChoice’s customer support team is available 24 hours a day, 5 days a week and can be reached through online chat, telephone, and email. The customer service team is friendly and can communicate in many different languages.
FXChoice is an online forex brokerage brand operated by FX Choice Limited, a financial serving firm registered in Belize and regulated by the International Financial Services Commission (IFSC) of Belize. Clients’ funds are kept in segregated accounts held separately from the company’s operational accounts.
FXChoice Review Summary
FXChoice is an online retail forex broker authorized and regulated in Belize. They accept clients across the globe, including the US and Canada, offering a wide range of tradable instruments, competitive fees, fast execution, and direct market access through the MT4 and MT5 platforms. However, they need to improve their educational section.
It is worth mentioning that some of the trading products and services in this FXChoice review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the FXChoice broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.