✅ More than 10 years lifetime
✅ Various methods of funding
❌ Offshore license
❌ Limited number of instruments
❌ Only MetaTrader terminals
FXChoice has been launched in 2010 in Belize and so far is a broker that accepts clients worldwide. They pride themselves having more than 10 years of experience both as traders and a broker, as well claiming about processing 15 thousands transactions a day on average.
The FXChoice is a part of FX Choice Limited company that is authorised and regulated by the International Financial Services Commission of Belize (IFSC).Being based in Belize, FXChoice can be fairly considered as an offshore broker with all positive and negative aspects. Clients may not have the same protection like in Europe, United States or Australia in case of any disputes or insolvency.
The broker has a popular nowadays balance protection guarantee. It means that the trades will be closed automatically before the balance of the trading account goes below zero.
|Publicly Traded on Exchange||❌|
Is should be mentioned that different entities under FX Choice Brand offer to the traders different instruments because of regulatory restrictions. Assets for trading may vary based on the country of residence of the Client.
In common, traders can get access a wide variety of symbols with over 117 instruments in total. The broker offers forex pairs, energies, crypto CFD, indices and metals. Among cryptocurrencies there are available on 3 main currency pairs. Read about forex brokers that have large set of instruments.
|Major forex pairs||✅|
|Minor forex pairs||✅|
|Exotic forex pairs||✅|
FXChoice offers the most popular forex trading platform – MetaTrader 4. Beside it, its already widely spreaded MetaTrader 5 is avaiable also. Giving that opportunity to traders, it does not restrict their choice of MetaTrader platform selection that is vital because they have some significant differences and also trading software for MT4 is not suitable for MT5.
The broker also offers WebTerminal of MetaTrader 4 and MetaTrader 5 that allows users to access their accounts without installation of Desktop terminals and to login directly from the browser.
Mobile versions of the mentioned above terminals are available for iOS and Android also to get an ability to trade from mobile devices.
|MetaTrader 4/5 iOS/Android||✅|
|Proprietary Mobile Application||❌|
|MetaTrader 4/5 Web Terminal||✅|
The broker has two account types: the classic and the pro. On classic account it is only MetaTrader 4 terminal available and also a limites amount of instruments. If you wish to use MetaTrader 5 and have access to all the trading instruments that FXChoice has, you need to open a pro account.
Accounts can be opened in fiat currencies like USD, EUR, CHF, CAD, GBP, AUD, in Gold and in cryptocurrenices like Bitcoin, Bitcoin Cash, Litecoin, Ethereum and XRP.
Minimum deposit amount is equal to $100, while the minimum lot size 0.01, leverage is limited up to 1:200 on both account types.
FXChoice has a MAM service that have their own clients base and want to trade on their behalf. Basically, a MAM account is a propriety account that allows to manage funds for a fee that depends on the account’s performance.
The Classic account has commission built into the instrument spreads, which is a regular practice for so-called ‘commission-free brokers’. Spreads start from 0.5 pips for EURUSD.
The Pro account has commissions up to $3.5 on top of the spreads but the spread themselves are smaller than on Classic accounts and start from just 0 pips.
FXChoice has several ways to make deposits and withdrawals and the number of available methods is fairly big.
Beside common bank cards methods like Visa and MasterCard, there are bank wire transfers for bigger transfer amounts.
Popular E-wallet services like Skrill and Neteller are also in the list of available methods.
Additionally, there are less popular Perfect Money, FasaPay, ePayments, Qiwi, Vload, PoliPay and some others. Though Paypal is not in the list of integrated funding ways, as well as absent popular in Eastern Europe systems like WebMoney and Yandex.Money.
Cryptocurrencies are available as well so users can make direct payments without using and Payment System Provider.
FXChoice has a friendly and multi-lingual support that is available 24 hours and 5 days per week. Available methods are
Online chat is considered as a main channel of communication because of its fast and reliable service. The waiting time is quite low and you can get response within a couple of minutes.
Phone support is available only in English and could be accessed only during regular business hours.
E-mail is a conservative way to get support and it is forced to be used by company authorities in case of some complex issues.
Finally, FXChoice might be considered as a medium quality broker mainly because of its offshore license. We advice to think twice before opening accounts with brokers that do not have NFA, FCA or CySEC licences.
Offered number of trading instruments is below average and is less than 150 while other brokers may offer thousands of instruments available for trading.
Trading terminals are limited to MetaTrader 4 and MetaTrader 5, though WebTerminal and Mobile Application are offered also. There is no cTrader terminal and no FIX API for direct connection, mainly used by algo traders.
Deposits and withdrawals methods are presented by the most popular methods like wire transfers, bank cards, Skrill, Neteller and some more though missing several others that might be used as well.