FXChoice Review

Overall, FXChoice is a trustworthy and client-focused broker with user-friendly tools to trade. FXChoice was established in 2010 and is regulated in Belize has emerged as a leading online broker, specializing in Forex and CFD trading for individuals. Lately, they have are also serving institutional investors and fund managers.

FXChoice at a glance

Overall Rating

• 4.1/5

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OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

IFSC

Trading Platform

MT4, MT5, Web Terminal

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our FXChoice review below.

 FXChoice Review – A Key 20-Point Quick Overview

1. ✅FXChoice at a glance
2. ✅FXChoice Overview
3. ✅FXChoice Sign-up Bonus
4. FXChoice Minimum Deposit
5. FXChoice Accounts
6. FXChoice Account Features
7. How to open an FXChoice trading account – Step by step
8. FXChoice Demo Account
9. FXChoice Islamic Account
10. FXChoice Fees and Spreads
11. FXChoice Deposit fees and deposit methods
12. FXChoice Trading platforms
13. FXChoice vs Destek Markets vs Deriv – a Comparison
14. FXChoice Top countries by traders – Similar web
15. FXChoice Current Popularity Trends
16. FX Choice Customer Reviews
17. Conclusion
18. FXChoice Pro and cons
19. Disclaimer
20. Frequently Asked Questions

Due to the highly competitive nature of the online trading field, FXChoice focuses on technology, as it believes being ahead of the curve in this area gives it the edge over its competitors.

FXChoice Overview

According to research in South Africa, FXChoice is a financial broker established in 2010 and regulated in Belize. Over the last few years, it has emerged as a leading online broker, specializing in Forex and CFD trading for individuals, as well as institutional investors and fund managers.

FXChoice’s wide range of products and services cater to a broad spectrum of traders. These products are placed at the center of the broker’s ethos, and its customer service is there to assist you in making FXChoice, the right choice. Due to the highly competitive nature of the online trading field, FXChoice focuses on technology, as it believes being ahead of the curve in this area gives it the edge over its competitors.

Coupled with this emphasis on technology is the broker’s dedication to security. FXChoice works tirelessly to ensure the protection of traders’ data and guarantee the safety of transactions.

FXChoice Sign-up Bonus

FX Choice may offer a bonus of up to 15% if you deposit in Bitcoin with first time sign up, also called a deposit bonus. This percentage of the bonus may differ depending on the account type. New traders who register a real account with a broker may receive a sign-up bonus, a deposit bonus, or a welcome bonus.

FXChoice Minimum Deposit

FXChoice has a minimum deposit requirement of $ 100 for both account types. This minimum deposit amount was equivalent to ZAR 1 600 at an average current exchange rate between the US Dollar and the South African Rand at the time of writing.

FXChoice’s authorization as a broker and its regulatory authorities may require that client funds must be kept in segregated accounts, separate from the broker account, and that such funds could only be used by traders to conduct their trading activities.

FXChoice Accounts

FXChoice offers the trader a choice between two trading accounts: the classic account and the pro account, which should satisfy your trader’s needs. All account types can be opened as either corporate or individual accounts and can also be traded in demo mode to sharpen your trading skills before using real money.

FXChoice Account Features

With an FXChoice account, traders can benefit from the following features:  Hedging is allowed, social trading is available, and trading can be commission-free (on the Classic Account). MT4 and MT5 downloads are available, as well as the GPS robot 100k EA download.

A broad selection of payment methods is available to fund accounts. Drawbacks of choosing FXChoice as a broker include limited educational resources and no stock trading.

Classic account features:

Pro Account

How to open an FXChoice trading account – Step by step

Follow these steps to open an FXChoice trading account:

• Step 1 – Navigate to the FXChoice website

The first step in registering for an FXChoice demo account involves traders navigating to the FXChoice website, and clicking on “register” to proceed.

• Step 2 – Select desired trading platform

The second step requires the trader to select the desired FXChoice demo account platform on which they would lik

• Step 2 – Fill out the FXChoice registration

The second step in the registration process requires traders to fill in their: name, email address, and password.

Click ‘next’ to proceed.

• Step 3 –  FXChoice telephone confirmation

The third step in the FXChoice account registration process requires traders to fill in their country of residence and cellphone number to obtain verification through an OTP (one-time pin).

• Step 4 –  Fill in the OTP code

Traders must fill in the OTP code received through SMS, click next to proceed.

• Step 5 –  FXChoice account Registration Complete

Follow the FXChoice KYC process to obtain login details.

• Step 6 – Verify your FXChoice profile

The next step requires traders to verify their profiles by going through a KYC process.

• Step 7 – Download the FXchoice MT4/MT5 trading platform

Traders can download the MT4/MT5 platform to start trading.

FXChoice Demo Account

You can open Classic MT4, Pro MT4, and Pro MT5 demo accounts with FX Choice. Users can access almost identical trading conditions as the live conditions in a no-risk environment, with a customizable amount of virtual funds for practice trading.

Demo accounts expire after 90 days of inactivity, otherwise, they remain open for as long as a trader needs it. FX Choice demo or practice accounts can be utilized as a practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment using virtual funds, for traders who want to evaluate and compare brokers and would like to explore FX Choice’s trading conditions in a risk-free environment.

FXChoice Islamic Account

FXChoice offers traders the option of an Islamic account. The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which are seen as exploitive or wasteful.

Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should traders hold positions open for longer. Traders who are interested in registering for an Islamic account please just contact FXChoice and the option will be available for you. broker’s customer support team to verify the availability and current conditions of such an account as conditions may have changed from the time of writing.

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

IFSC

Trading Platform

MT4, MT5, Web Terminal

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

FXChoice Fees and Spreads

FXChoice spreads on EUR/USD start from 0 pips on the Pro account. Traders should remember that Pro accounts are commission-based at $3.50 per side. The commission-free Classic account offers spreads at around o,5 pips for EUR/USD.

FX Choice is transparent with its contract specifications and provides a downloadable guide with cost breakdowns, including swap fees. Fees, spreads, and commissions that traders can expect on the company’s spread list when trading with FX Choice are as follows:

CFDs

Forex

Cryptocurrency

💳 Spread 01

FXChoice Deposit fees and deposit methods

Compared to other brokers, the minimum deposit amount that FX Choice requires when traders register a live account is fair. FX Choice offers traders various payment or deposit methods which can be used when funding accounts. Withdrawals usually must be returned by the same method used to deposit and to the same bank account. FX Choice accepts the following deposit methods:

FXChoice Trading platforms

MetaTrader 4 (MT4)

The award-winning MetaTrader4 is by far the most popular application in the Forex trading field. The platform is an ideal vehicle for international clients to trade Forex, CFDs, and Precious Metals. It also offers Expert Advisor compatibility (Auto Trading Systems), the best selection of the most important symbols (currency pairs) as well as a galaxy of analytical tools.

MetaTrader 5 (MT5)

The MetaTrader 5 platform is the logical successor to the successful MT4. According to Metaquotes, MT5 is, however, not just the new version of MT4, but a completely new platform with brand new features. Both these platforms are available on desktop, android, and iOS devices.

Web Terminal

Available for both MT4 and MT5 users, allows you to trade via a browser without the need for downloading additional software. You can trade directly from your FXChoice account in your preferred browser and save time by simply logging in and starting trading.

FXChoice vs Destek Markets vs Deriv - a Comparison

FXChoice Top countries by traders - Similar web

FXChoice Current Popularity Trends

According to Google Trends, here is an overview of how frequently the search term – “FXChoice” is entered into Google’s search engine over a given period of time.

FX Choice Customer Reviews

I put 10k USD over a year ago with…

I put 10k USD over a year ago with these guys, I was learning how to trade, didn’t workout. I realized just holding crypto you make more money then trading forex. I had left on the account 7k for almost 2 years. I went and asked for a withdrawal, they asked me to send them a picture of me holding my ID with a paper written “MyFX Choice” + the date. i sent it and within 24h my order was processed and they sent me my money. I’m usually that type of dude that always leave bad reviews, but I have to be honest and give credit to where is due especially with these scammers nowadays, but this company is legit – Kaia W

So far a great platform

So far a great platform, I had an issue with a crypto trade not being able to modify the trade due to the market closure time, but my questions were answered as well as documentation to back up their reply explaining in detail what would happen when the market reopens.
Over all great brokers – Pipcollector

Honestly it’s a great broker with…

Honestly, it’s a great broker with competitive spreads also the fact that they allow you to trade most if not all the currencies, crypto, and index in the demo as for those in the live account. I hate the fact that when I add more lots they move my original entry price to another price.

Conclusion

For traders looking for a MetaTrader-only broker that offers both MT4 and MT5, MyChoiceFX might be a good choice although it has a limited range of tradeable markets, with just 50 available instruments and few research-related tools. The broker also lacks regulatory status in a major jurisdiction, as it is regulated in Belize. Obtaining another license in a major financial hub would greatly boost the broker’s trust score.

However, the number of years for which FXChoice have 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.

Additional elements such as their active trader program, social trading integration, and provision of VPS to traders, serve only to strengthen their position and the fact the company knows and understands its users.

FXChoice Pro and cons

You might also like: FXChoice Account Types Overview

You might also like: FXChoice Demo Account – Step by Step

You might also like: FXChoice Fees and Spreads

You might also like: FXChoice Islamic Account Overview

You might also like: FXChoice Minimum Deposit

You might also like: FXChoice Sign up Bonus

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

IFSC

Trading Platform

MT4, MT5, Web Terminal

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Disclaimer

FXChoice, registration number 105,968, is an Investment Firm regulated by the International Financial Services Commission (license number: IFSC/60/191/TS/19). FXChoice owns and maintains its website. Downloading or copying anything from this website will not transfer its ownership to you.

Anything you transmit to this website will become the property of FXChoice and may be used for any purpose seen fit. FXChoice reserves all copyright and trademark rights for the material on this site and will enforce such rights to the full extent of the law.

The information on this site is for information purposes only. It is not to be considered an offer or solicitation of any kind, by any person. You are strongly advised to seek the advice of a financial advisor before undertaking any investment. Nothing on this site should be construed as investment advice from FXChoice.

Risk warning:  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. Traders should unreservedly acknowledge and accept that, regardless of any information which may be offered by FXChoice, the value of any investment in Financial Instruments may fluctuate and it is even possible that the investment may become of no value.

Traders should unreservedly acknowledge and accept that they run a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and they accept and declare that they are willing to undertake this risk. 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. All trading involves the risk of capital loss.

Virtual (Crypto) currencies such as Bitcoin and other Cryptocurrencies are not regulated by any regulatory body and are therefore not protected if the platform that exchanges or holds the virtual currency fails or goes out of business There is always a risk associated with buying, holding or trading virtual currencies. Before getting involved with trading or investing in Cryptocurrency, it is necessary to have detailed and updated knowledge of related blockchain technologies, according to research in South Africa.

Frequently Asked Questions

Is FXChoice fake or a scam?

FXChoice is a recognized broker through the IFSC, the Internation Financial Security Commission.

What are the advantages of trading with FXChoice?

The advantage of trading with FXChoice are tight spreads starting at 0 pips, the broker is licensed by an Internation regulator IFSC, FXChoice offers a variety of passive income options as well as affiliate programs beneficial to potential traders.

Which trading platforms are supported by FXChoice?

MetaTrader4, MetaTrader5 and Web terminal

What is the overall rating for FXChoice?

4.4 out of 10

What type of broker is FXChoice?

FXChoice is an ECN broker that offers forex and CFD trading