FXChoice Review Is it a Scam or Legit Forex Broker ️
Other advantages include rapid market execution and price improvements for all order types. Which are all considered great tools for speculating on commodities during economic crises. The broker has active for almost a decade, they founded in 2010.
The availability of each method depends on your country and the size of your transaction. FXChoice has also collected several prestigious awards within the industry, many of which are centered around their excellent customer support services. Most of the funding options work for both deposit and withdrawal, so you won’t have to worry about that issue so much. The broker’s website is offering services in many languages from all over the world including English, Chinese, Thai and Portuguese, Spanish, and French. Trading terminals are limited to MetaTrader 4 and MetaTrader 5, though WebTerminal and Mobile Application are offered also.
If you were having problems with specific trades, you need to contact us directly immediately and not vent your frustrations on a general public forum. Perhaps there was a problem that needs to be addressed and we didn’t notice it. We were able to find you in our system and properly understand the situation before replying. There was a technical glitch in my account, they fixed that in a very professional manner. FXChoice allows a minimum trade size of as low as 0.01 lots.
Another distinguishing feature of Pro accounts is that they boast a significantly wider selection of tradable instruments. With the Pro Account, account spread, and commission are charged separately. The fee structure on Pro accounts corresponds exactly to that https://forexbroker-listing.com/ commonly adopted in the Intermarket, which is why spreads are significantly tighter compared to Classic accounts. A forex account is a trading account held by a trader with a company like FXChoice that is primarily issued with the purpose of trading currencies.
The broker is regularly audited and reported on required terms, which means there is a sustainable level of transparency. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee.
The MT5 mobile application allows you to trade Forex and CFDs on the go. Simply download the application free of charge, log in to your account and receive real-time currency quotes, analyse financial markets and have access to your trading history. MT4 is widely known for being very user-friendly with a quick learning curve that makes it a popular choice for beginners.
Top 3 Forex Brokers
MT4 Google Play or Android app has a 4.6 rating out of 5, with more than half-million ratings in the 4 to 5-star range. All kinds of trading operations, including placing market orders and pending orders. 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. Traders should not engage in any investment directly or indirectly in Financial Instruments unless they know and understand the feature risks involved for each Financial Instrument. FXChoice does not and cannot guarantee the initial capital of the Clients’ portfolio or its value at any time, or any money invested in any financial instrument.
We can launch a trade dispute for you and get to the bottom of the problem. I've been with Fx Choice for almost 10 years and never had any issues. Sadly, they don't accept US customers anymore but I'm fortunate enough to be able to trade with them and keep my account with the best offshore brokerage there is. Opening an account with FXChoice is a quick and easy process.
FXChoice has preinstalled some of the most popular EAs on the MT4 platform. FXChoice gives 24/5 customers support through telephone, live chat or you could complete a form to request a callback. FXChoice is own and regulated by the offshore company FXChoice Ltd., which is based in Belize and regulated by the local International Financial Services Commission . The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods. Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
The broker platform offers MetaTrader 4 , MetaTrader , both having advanced trading features for both beginners and advanced traders. The broker allows traders to buy and sell the available financial asset using the popular MT4 and MT5 trading platforms. These trading platforms are available on multiple devices and offer the ease of trading all the available Trading Products.
Account Types
Unless you are only trading the 'Majors', stay away from this broker as there are many other more competitive ones out there. 4.2 pips on GBPNZD when the average spread across the industry is as of writing 1.8pips. Came back to trade with them again only to find out they don't accept US traders anymore. We asked you if you’d like to proceed with that payment or use an alternative withdrawal method. Please contact us as soon as possible to confirm that you’d like to process this second withdrawal, and by what method we should send it to you.
- Our FXChoice review team feels this gives you the ability to customize trading costs for your specific needs.
- Your actual trading may result in losses as no trading system is guaranteed.
- FXChoice allows traders to buy and sell various financial instruments across different asset classes, including forex, cryptocurrencies, indices, metals, energies, shares, and CFDs.
- On the MT5 is available stop limit order feature, support of both traditional netting and hedging options, and more indicators.
- You must understand all the risks for forex, spreads, and trading CFDs beforehand.
We are committed to the fair handling of reviews and posts regardless of such relations. MyFxChoice processes nearly all withdrawal requests within 24 hours Monday through Friday.
Trading Markets
FXChoice is a legit crypto broker, but it does not allow traders from the United States of America. The broker offers a wide range of trading tools, including MQL5 Signals, Myfxbook Autotrade Services, VPS, Live Economic Calendar, Pips+ Programme, and many more. Forex broker services are also provided for institutional clients and large companies such as investment banks. 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. FXChoice allows traders to buy and sell various financial instruments across different asset classes, including forex, cryptocurrencies, indices, metals, energies, shares, and CFDs. Live webinars are common events that brokers fx choice review organize from time to time. They are usually broadcast to the broker’s clients via the internet. During the live webinars, the host and other key speakers share PowerPoint presentations, videos, web pages, or other multimedia content with traders, irrespective of their locations. FXChoice’s live webinars are designed to help all levels of traders to grow their trading knowledge and become even better traders.
Account access, trade executions, and system response may be adversely affected by market conditions, quote delays, system performance, and other factors. It is recommended that investors seek independent advice before trading, according to research. Investors should only use risk capital when trading futures, forex and CFDs because there is always the risk of substantial loss. It is important investors carefully consider their objective, financial situation and level of experience. Still, the number of years for which FXChoice has engaged in the sector provides ample indication that they are a respected and quality broker. They focus on platforms in MT4 and MT5 which are well-known, and mostly used in the industry.
Indices
Your second attempt to log in was successful AFTER the markets opened, we note. You can check this data yourself by logging in to your device and checking the logs for 15/16th August – they will be identical to our logs. It was such a pleasure to read your positive review of our services. Me personaly i am thibking to stop my learning trade account with fx choice .
You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees. The initial minimum deposit is 100 USD for the broker’s Classic account. Also, clients are free to choose any payment method that is convenient for them and is available at the location they trade from. The broker displays all of the spreads and commissions on the pages for each asset. The broker may charge some additional fees, including overnight fees, swap fees, etc.
There is also a ‘Knowledge Base’ section that provides questions and answers across a variety of topics. I have used FXChoice in my own trading for quite some time now. I find their platform easy to use, their support is very good, and I’ve made some nice trading profits. The deposit and withdrawals options are a little bit limited, although they are adding new ones all the time. There are several tools available on the site to help investors and traders. For example, the economic calendar is updated online, providing access to timely news.
These FXChoice reviews on Youtube are a great way to learn more about the broker and make your decision. ESMA, which stands for European Securities and Markets Authority, only impacts brokers licensed in the European Union. Moreover, an internal risk management team monitors management operations to ensure that they comply with regulatory policies. Only a copy of the trader’s ID is necessary to pass mandatory account verification. FXChoice offers a weekly live webinar, which is held each Monday and offers valuable insight.
I found there to be a wide variety of Forex and CFD instruments available to trade, catering for all different types of trader. You can choose from popular currency pairs, trending cryptos, individual stocks and major stock indices. If you are looking to trade stocks then you might want to look at another broker such as TMGM who have plenty of stock instruments. As you work your way up the tiers, the trading commissions decrease. To upgrade through the tiers, clients can increase trading volume or deposit more equity. I think it is fantastic that the broker rewards you for your loyalty with cheaper trading costs.
Users may reach FXChoice through MyFXChoice Live Chat and by Call Back. Another way is by submitting a ticket to their support team. FXChoice customer support agents will contact you in a matter of a day, excluding weekends. Just fill out a simple report form with your personal and account details and your message. According to broker Terms & Conditions, the broker is operating in every country where its operations are not against the local law. Since we were not sure what this exactly means, we checked some of the FXChoice reviews by clients.
Also on the site in the section with terminals there is a transition to the web version of Metatrader. The withdrawal requests that are made during business hours are usually processed on that same business day. And the withdrawn funds may take up to 5 business days to reach the bank account of the FXChoice traders. Traders are also charged with withdrawal fees if money is withdrawn via credit or debit cards or e-wallets.
