The method chosen will determine the time taken for the process of deposit/withdrawals to complete. Certain methods are country-specific and for quicker payment methods, Skrill, Neteller, https://forex-review.net/ Perfect Money, etc. payment methods must be chosen. FXChoice offers numerous e-wallet and alternative payment methods to deposit or withdraw funds from your trading account.
Moreover, the MT5 platform features 44 graphical objects, 38 technical indicators, and 21 built-on timeframes. It also features an economic calendar coupled with an embedded community chat. The strategy tester is both multi-currency and multithreaded with real-tick data. Similar to MT4, MT5 is also compatible with all kinds of devices, including Windows, Mac, iOS, and Android devices, or as a Web Terminal that includes one-clicking trading to the features of MT5. MetaTrader 5 trading platform includes additional order types, extra market indicators, additional depth of market display, and a robust Expert Advisor testing environment with the real-tick data. The first step involves visiting the official website and filling in a digital application form to register on the trading platform.
The minimum deposit is 100 USD or currency equivalent and accounts can be opened in USD, EUR, GBP, AUD and CAD, among others. 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 combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating.
What is FXChoice?
They have prompt customer service which I’ll say yes is good but they won’t do much in case of platform issues. Thats on you and somewhere in the terms and agreement its stated in such manor I believe. Offshore regulated brokers have long been considered a disadvantage due to the perceived lack of stability and regulatory oversight. However, offshore regulated brokers are now considered advantageous as they can offer higher leverage than European and Australian brokers. No negative balance protection – FXChoice does not have negative balance protection, meaning if your account goes negative, your account balance can become negative due to rapid volatility. If this happens, FXChoice will deduct funds from any other accounts you might have and then deduct funds from any deposits you make in the future.
The MT4/MT5 trading platforms are available, and FXChoice provides weekly live webinars for traders to gain powerful insights. FX Blue is a free online forex service that can give detailed analyses of your trading accounts and help you to review the accounts of other traders and trading systems. This can be especially useful for money managers or trading software providers who are looking to attract new clients and want to showcase their trading portfolio. FXChoice offers different account types to suit certain traders. The company offers two distinct trading accounts, which are available as personal, corporate, Islamic and demo accounts. That is, instead of connecting directly to the market, FX Choice acts as an intermediary and takes the opposite position to its clients.
- Alternatively, you can request a callback at a time that suits you.
- The charting tools are more professional with support for conventional netting and hedging options, compatible with Expert Advisors.
- There is also a selection of Expert Advisors for MT4 to download, including the GPSForexRobot for scalping, plus pip calculators.
- FXChoice is one of the most popular trading platforms that provide different programs and bonuses to allow investors to earn more.
Processing charges may apply, though some payment methods have 0% fees. These can be found on the deposits and withdrawals page or within your back office profile. Internal transfers can also be made from within the back office.
As we explained in our response to your ticket, we executed your trades correctly and you simply misunderstood the margin level when factoring in your bonus. And yes, the XAUUSD price did not hit your Stop Loss, but that’s because you didn’t have enough equity to support the position, so you were stopped out before the price got there. I have been using FXChoice as my trading platform for over a year and everything’s been excellent.
High Deposit fee. Insane Spread. Bad Trading condition
The Classic account trades the usual spread based commissions, while the Pro account charges $3.50 per notional amount of $100,000 traded. Our FXChoice review team feels this gives you the ability to customize trading costs for your specific needs. For example, the Pro account is much better suited to traders who prefer scalping and using robots. Beyond having facilitated millions of trades for satisfied traders, they also do everything they can to protect your capital. All clients’ funds are held in segregated accounts, completely separate from the broker’s corporate accounts.
The FX Choice official website is the place all traders find the login page to reach their accounts. The website is very simple and does not seem to be attractive for users who love great designs. However, even a child would understand how to navigate the menu. This is why the simplicity in the design wins – it is very user-friendly. We compare the number of assets with other brokers, that is why we can definitely say that the options are much narrower. You might say that these choices are good enough for most traders, and this would be correct.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Clients who fund their newly opened account within 7 days can also benefit from a 25% bonus on top of their original deposit up to a maximum bonus of 5,000 USD. Clients who deposit using Bitcoin can also benefit from a 15% bonus with no deposit or conversion fees.
Especially when it comes to leverage amounts types of products offered. My experience always positive never any problems or dishonesty from this broker and customer service always responsive. Please read FxChoice reviews below and share live trading experiences with this broker. This feature allows investors to shadow the positions of experienced traders, known as Signal Providers. This add-on can work alongside Expert Advisors and the provided signals can be copied automatically in the MT4 platform.
FXChoice Overall Ranking is 7 out of 10 based on our testingand compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. MyFxChoice processes nearly all withdrawal requests within 24 hours Monday through Friday.
Before I started this review it said explain what happened and what were your experiences, I would like to share but at the moment nothing. Have traded for a while now and when applying to open a new trading account the two above plus proof of address would normally be fine. Support keep telling me I have to show those government documents. I would if I had them, or are UK citizens banned or not welcome. We are committed to providing best-in-business services on a global scale and we are always pleased to read positive feedback from our clients.
Without a doubt, FXChoice is a safe home for your trading. No, FXChoice is not a scam, it has long established itself as a reliable broker with long years of operation and excellent trading conditions. However, the broker is not operating under any serious licenses for now.
The web version of the MT4 runs directly on modern web browsers, such as Chrome, Safari, Edge, and Firefox, without needing to download or install any additional software. The mobile app is best suited for traders who wish to place trades and check trading positions while on the go as long as there is an internet connection. The broker does not charge any inactivity fees on dormant accounts.
FXChoice review: Is it a legit or scam forex broker?
Forex traders have 36 currency pairs from which to choose. Three cryptocurrency pairs, six commodities, six index CFDs, and 55 equity CFDs complete the list. The total asset selection of 106 is sufficient for new traders fx choice review to get acquainted with trading. We’re glad to see that our customer service were able to solve your queries promptly and accurately. Their tight spread setup is outstanding and profitable for their users/clients.
Based in Belize, FX Choice offers a number of CFDs and a few Forex pairs. Traders looking for a large forex selection are better off looking elsewhere. Traders may face internal withdrawal costs, depending on the payment processor. On its website, FXChoice notes its registration number with the International Financial Services Commission of Belize, its sole regulator. The IFSC emerged as a primary choice for brokers seeking a competitive, regulatory environment. It goes against our guidelines to offer incentives for reviews.
FXChoice Review Conclusion
Our team also found that FXChoice offers demo versions of both account types, which allow you to practice your trading free of charge. This is a major benefit of choosing FXChoice, as most brokers don’t offer demo versions of their commission-based accounts. Yes, FX Choice Limited is a great option for a forex trading broker since it has an excellent record for offering Spread Betting, Forex trading, and Share Dealing. It has been successfully functioning in this industry for the past 13 years and is regulated by the International Finances Services Commission Belize.
The Trustpilot Experience
FX Blue Labs’ apps and services are truly market-informed. They have evolved in response to feedback from brokers and thousands of traders around the world. The apps help people trade with top efficiency and make more informed trading decisions in a confident manner, covering every style and need.