FXChoice Review 2023 Is it a Scam or Legit Forex Broker ️

While there are no commission fees on the Classic account, a commission fee of $3.5 per side is charged on the Pro account. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. Compare the markets and instruments offered by FXChoice and its competitors.

Bottom line, don’t burn your money with this irresponsible broker. Imagine talking about your trading experience and drawing in your friend to join the same broker so you can all trade together so it would be a fun trade plus gaining a bonus on top of all that. If you were an EA user, you can get a free VPS service with that bonus too. This bonus is available on non-crypto deposits and it can reach up to $10.000 per month. When using cryptos for deposits on real accounts, you get, pretty much the perfect start to your account where you can get a 65% extra bonus on your deposit.

FXChoice Review – A Key 15-Point Quick Overview

Fortunately, FXChoice is transparent with their contract specifications and provides a downloadable product guide detailing cost breakdowns, including swap fees. FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads and online CFD trading. I haven’t enjoyed any platform ever since I started tradingas much as I do right now, I am now even thinking of opening a live account and start using it.

FXChoice and FXOpen are two online forex brokers that offer a variety of services to their customers. FX Choice offers the MetaTrader 4, 5, cTrader, and Web Trader platforms, while FXOpen only provides access to MT4. FXChoice has more than 300 instruments available for trading compared to FXOpen’s 200+ instruments. FXChoice also offers a cashback loyalty program and attractive referral and affiliate programs which allow customers to earn additional income. The fee structure of this broker is transparent and traders can view all the commissions and spreads on every page dedicated to a particular asset.

FXChoice also has an affiliate program for experienced traders who are looking to increase their earnings. FXChoice affiliates can earn up to $600 per referred client. FXChoice offers a loyalty program for regular customers known as the FX Choice Pips Program. This program rewards clients with cashback of up to 2 pips per lot on their spreads for every trade they make.

• FXChoice also offers a wide range of trading platforms, access to over 300 instruments, and an attractive referral program which makes it one of the best forex brokers available.
• Their tight spread setup is outstanding and profitable for their users/clients.
• Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market.
• CFD trading gives participants direct market exposure without having to take ownership of the underlying asset.
• We asked if there were any plans to resume your IB activity, and you said ‘no’.

FXChoice supports deposits with your Visa or Mastercard debit or credit card. If you’re depositing via card payment, be prepared for withdrawing your funds via one of the other supported payment methods. There is a fee to deposit using a card, which varies by region. If you’re depositing to your FXChoice account via wire transfer, you should know the supported currencies are EUR, GBP and CAD. The minimum deposit is €3,000 or equivalent, and there is no upper limit on deposits.

FXChoice Leverage

Yes, as mentioned above, FX Choice is regulated…at least technically. Being regulated by an entity in Belize is not the same as being regulated by a Tier 1 powerhouse. Supports both MetaTrader 4 and MetaTrader 5, which are highly regarded, industry-standard platforms. This does not mean that FX Choice is not a bona fide online brokerage. Should you give FX Choice a chance to earn your business?

The broker provides you with convenient market access via the user-friendly yet powerful MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. Various useful trading tools, educational resources, and a knowledgeable client support team are available to assist you with you day trading activities. You can choose from a variety of account types depending on your trading strategy and fund your account using a good selection of payment methods. However, I feel they could improve in terms of non-FX instruments and would like to see them offer support on weekends. Overall, if you do not mind the lack of top-tier regulation, I think they are certainly a broker worth considering.

Coming to FXChoice’s security and regulation, the platform is regulated by the Financial Services Commission of Belize . Although FSC is not a reputed or prestigious regulator, experts think that the platform could gain other licenses by being regulated by FSC. The number of years for which FXChoice has engaged in the sector provides ample indication that they are a respected and quality broker. A virtual Private Server is a virtual computer stored in a safe location where a stable internet connection is guaranteed.

Deposit & Withdrawal

As its name suggests, it is ideal for master or https://forex-reviews.org/fessional traders who like to trade with the tightest possible spreads. Another distinguishing feature of Pro accounts is that they provide full market access with a significantly wider selection of tradable instruments. However, fees might differ depending on which one you are using. As for withdrawals, you can request one through a designated part of a trading platform.

• MetaTrader 4 offers 30 technical indicators, nine timeframes, 31 graphical objects, and a single-thread strategy tester.
• So I think I have enough knowledge to compare brokers.
• It’s no surprise that traders highly rate FXChoice for the quality of services provided overall.
• Based in Belize, FX Choice offers a number of CFDs and a few Forex pairs.
• It is packed with useful trading tools and enhanced trading functionalities, such as one-click trading, multiple timeframes, various technical indicators, and more.
• Not every trader has the same demands, and there are so many brokers out there, and it can be hard to tell them apart.

We were able to find you in our system and properly understand the situation before replying. The FX Choice website states that VPS customers receive order latency of 7ms. The FX Choice website offers absolutely no information about their liquidity source. Rather, if your losses “become too large” , FX Choice will at their discretion close some of your positions at the best-available pricing before your account goes into a negative position. If things like accountability and regulatory oversight do not matter so long as the opportunity for profits exists, then, by all means, give FX Choice a try and let us know how it goes.

As an Iranian, most of the brokers have sanctioned us and do not allow Iranians to do economic activities. We are so pleased to read your positive review and wish you all the best. We wish you all the very best for the future, and if you need any trading assistance, feel free to contact us via Live Chat. Our records show that we tried to contact you several times regarding your withdrawal and to suggest a possible solution. If you like losing your money deposit your money on FXchoice and then try to get it back. If you require any assistance starting trading again with us, please feel free to contact us via Live Chat.

Spreads for the FXChoice Classic Account start at 0.5 pips but vary depending on market conditions and trading instrument. There is no commission charged when trading with the Classic Account. The Classic Account is only available on MetaTrader 4. This FXChoice review explores key areas that concern your decision to open an account with this forex broker.

We are not responsible for any action you undertake which results in financial or other types of loss. Therefore you should take all precautions necessary to ensure the suitability, appropriateness and adequacy against your own circumstances. We further recommend that you should seek professional financial independent advice before you obtain any of the services or products referred to within this Website. TradeWise is not authorised or regulated by the Financial Conduct Authority.

Terms and Conditions for FXChoice – What You Should Know

Overall, fx choice review on our research and expert opinion, we consider FXChoice a good broker for active and passive trading suitable for professional traders. The broker displays good conditions for FX and CFD trading with low fees and advanced technology. The MT5 trading platform is probably the best and most advanced trading platform available free of charge. It implements some of the best elements of its predecessor MT4 whilst including new and innovative features. The platform provides the user with a comfortable and seamless trading experience, regardless of your experience level. FXChoice allows traders to buy and sell various financial instruments across different asset classes, including forex, cryptocurrencies, indices, metals, energies, shares, and CFDs.

You can also earn up to $250 depending on trading volume. FXChoice provides traders with the MT4 and MT5 trading platforms. The live economic calendar is one of the essential research tools that are available at FXChoice. It provides traders with the schedule of future market events and their expected impacts on the financial markets. I think this is a very important tool and always like to make sure I check for any pending news releases before making any decisions on my positions.