Moreover, the broker platform ensures that all client transactions are safely processed. The communication and transactions are fully encrypted by using a Secure Socket Layer (SSL) technology whereas the client passwords are fully encoded. The same level of security measures is applied to the MetaTrader platforms and the traders can also apply the 2-factor authentication that also includes the Google Authenticator. Note that traders from the United States can also trade on this platform even though they are not regulated in the US. FXChoice is operating as a No Dealing Desk (NDD) offshore forex broker, headquartered in Belize. According to experts, this does not necessarily reduce the level of security of the funds.
- With this offshore regulation, clients may not have the same protection in the event of any disputes or insolvency as they would with a broker who is regulated by a top-tier regulator.
- The same level of security measures is applied to the MetaTrader platforms and the traders can also apply the 2-factor authentication that also includes the Google Authenticator.
- When it comes to fees, FXChoice operates on a commission-based model for the Pro account, where traders pay a fixed commission per trade.
- FXChoice offers award-winning trading platforms and customer service, as well as additional analysis tools.
On the broker platform, you can choose between MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which offer a wide range of trading tools for both new and experienced traders. In 2010, the MT5 trading platform was launched by MetaQuotes to succeed the already popular MT4 trading platform. The MT5 platform maintains all of the essential features of the MT4 and comes with even more extended features and capabilities, such as 21 timeframes, expert advisors, multiple timeframes, and more. As per the FXChoice review, it has more than 50 trading instruments, all in 6 asset classes, including cryptocurrencies CFDs, forex, commodity CFDs, and index CFDs. However, note that CFD trading involves a high risk of losing, and around 75% of the retail investor accounts lose money when trading CFDs. While many traders may think these are limited offerings compared to other forex brokers, this FXChoice review will focus on various other opportunities that can diversify a trader’s portfolio.
Visa, MasterCard, sticpay, load, poli, astray, Skrill, Epay, Advcash, arm, Paysafecard, Neteller, Payop, & Perfect Money are some of the funding methods available for Traders. They may also fund their accounts with fiat and cryptocurrency deposits, including Litecoin, Bitcoin Cash, Ripple’s XRP, EUR, GBP, CHF, USD, AUD, CAD, Gold, Bitcoin, and Ethereum. For all accounts, the first minimum deposit is USD 100 or the equivalent in another currency. Multi-Account fx choice review Management Account is a type of account that allows you to manage many accounts for professional & advanced traders who already have a customer base and wish to trade on their behalf. The MAM account is essentially a private account that allows competent investors to manage their assets in exchange for a performance-based incentive charge. If traders wish to apply for a MAM account, they may do so through the official FXChoice website as well.
At the time of writing, FXChoice does not offer funding via PayPal, but a host of other standard deposit and withdrawal methods are accepted, including e-wallets, debit cards, plus cryptocurrencies. Accounts can be opened in a good selection of currencies including USD, EUR, GBP, CHF, AUD, CAD, Gold and Bitcoin. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. The broker uses advanced encryption technology to help guarantee your privacy and security when transactions are being processed. All communication data is encrypted using SSL technology (Secure Socket Layer).
Client Support
Fairly new trader to forex so it’s a joy to get quick answers to questions. They were highly recommended by a very experienced trader using them for many years, and I have been very pleased they have the patience for newbies. They allow multiple demo and live accounts so good for trying different approaches.
Withdrawals are usually processed within 24 hours but can take up to 3 business days, depending on the method you choose. 😕 Do you still not fully understand how commissions and spreads work? Learn more about commissions and spreads in our easy-to-read guide. However, Myfxbook, unfortunately, has imposed a $1,000 (or equivalent) minimum account funding requirement, which may move it out of the range of beginning traders. Even more, unfortunately, Myfxbook will not work for traders from the United States, Iran or Israel as per current regulatory restrictions.
lost mid night scam high spread auto removed all fund
You can save on trading costs by earning rebates and reduced commissions through the brokers loyalty programme. MT4 was developed by trading software company MetaQuotes and has won multiple awards. The FXChoice version of MT4 combines the platforms standard features with real-time price feeds from global markets, fast execution speeds, competitive conditions and interbank liquidity. It has a user-friendly interface and multiple built in tutorials for beginners whilst having a great range of technical indicators and functions for the more advanced traders. FXChoice is a Belize-based forex broker that has been in operation since 2010.
Broker Review
The forex broker also offers the Pips+ Loyalty program, in which all clients are automatically enrolled when they sign up for a Classic or Pro account. The program consists of five tiers and awards higher rebates and lower commissions for active trading. The spacious dashboard also makes the interface somewhat easier to use than its predecessor. Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email.
FXChoice
Plus, you can choose which traders you want to copy, so you can tailor your trading experience to your own needs. Moreover, in ZuluTrade, you can even team up with your peers, and it is completely transparent. The MT5 platform is popular with traders because it offers a wide range of features, including charting, analysis, and order management tools. The MT5 platform allows traders to execute a variety of trading strategies.
The Pips+ programme is a way for active traders to reduce their trading costs. The programme consists of five tiers and all MT4 & MT5 Pro account holders are automatically enrolled. I really like this feature and think it helps them to differentiate from many other brokers. FXChoice have a good variety of third-party tools that can be used if you are looking for flexibility and assistance with your trading activities. The MT4/MT5 platforms should have enough tools for most traders, not to mention you can get thousands of free and paid add-ons for them.
They have a no debit balance guarantee which means that your trades will automatically be closed before your account balance becomes negative. Should this safety mechanism not work due to extraordinary circumstances, they claim to zero your account balance. This is something that even some top-tier regulated brokers do not provide so it helps them stand out from the competition. The FXChoice brand is part of FX Choice Limited who are authorised and regulated by the Financial Services Commission of Belize (FSC).
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, index in demo as for those in the live account. I hate the fact that when I adding more lots they move my original entry price to another price. ZuluTrade’s exclusive system ranks traders depending on the market performance, allowing you to quickly see who the greatest traders are.
You can trade Indices, Metals & Energies, Crypto using the classic account. It is a powerful trading tool with numerous features for Forex, CFD, and futures trading. The platform provides traders with access to the global financial markets and allows them to trade in a variety of assets.
The trading platform is multilingual, with customer service available in a variety of languages, FXChoice may be reached via Live Chat and Call Back. Another option is to create a ticket for its customer service team. Customer service representatives from They will contact you within one business day, excluding weekends. Simply complete a short report form with your personal and account information as well as your message. The MT5 trading platform is probably the best and most advanced trading platform available free of charge.
All you have to do is make sure your account balance is at least USD 3000 and trade at least five lots every billing cycle. A bank or wire transfer deposit or withdrawal may take a few business days to complete the payment process, but other methods, such as card payments, may be instant. A cost is charged for making a withdrawal or deposit, though it is a modest price. New traders must submit their name and e-mail, together with a valid phone number.