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FXChoice Review 2024

Based in a small Central American country, Belize. FX Choice Limited is the company behind the FXChoice brand. The website of https://en.myfxchoice.com/ has been active for almost a decade along with Fxchoice itself as it was founded in 2010.

FX Choice Ltd is a company established in Belize under Registration No. 105,968 and has its registered address at Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize.

The Fxchoice website is offering services in many languages from all over the world including English, Chinese, Thai and Portuguese, Spanish, and French.

5.5
EXPERT SCORE
Good
I reviewed FXChoice based on the following criteria.
COMMISSIONS AND FEES
45%
TRUST
50%
TRADABLE INSTRUMENTSS
50%
PLATFORMS & TOOLS
65%
CUSTOMER SERVICE
55%
PROS
CONS

Low spreads and multiple trading instruments are presented for trading with maximum leverage of 1:200 and Fxchoice minimum deposit of $100 which is quite reasonable considering that’s the average rate of the forex markets anyway.

No commissions are added for funding methods where the transactions process instantly.

Is FXChoice scam or legit? What are FXchoice licenses? Fxchoice minimum deposits… Can you open the Fxchoice demo account? Is customer service friendly and helpful? I tried to provide thorough information in this FXchoice broker review.

They have many social media accounts like Facebook, Twitter, YouTube and Instagram. But they aren’t very active except for their Facebook account.

FX Choice Regulations and Investor Protection

When it comes to Fxchoice regulation, we all know it’s one of the most crucial points to look for when choosing a forex broker to trade and invest with. This section of Fxchoice review 2024 will walk you through the details and Fxchoice pros with regard to Fxchoice regulation, besides the license, Fxchoice is maintaining continuity at the moment.

Considering how global and widespread the forex market is, also being the most fluid market in the world, it’s quite easy to have scams and frauds occur in such a huge sea of financial opportunities.

And this is where the role of the financial regulators comes in, to make sure they’re tracking and controlling the activities of a certain broker to ensure the safety of funds and protection against scams, fraud, or financial crises if happened to the broker itself.

And so these financial organizations keep ever-updating rules and regulations, which the broker( in this case Fxchoice) must adhere to in order not only to get the license but also to maintain it. It might be a matter of reliability and reputation to forex brokers as its the main factor traders consider whether to trade with a certain broker or not.

These rules generally include the protection of funds by keeping clients’ accounts in segregated funds away from the operating funds of the broker itself, along with the necessity of providing a minimum net capital which normally isn’t less than $1.000.000 to prove the broker’s ability to handle the transactions.

Fx choice broker is duly authorized by the Financial Services Commission of Belize (FSC), under License No. 000067/301. This proves the reliability of Fxchoice being monitored by a big name in the financial market which is the FSC.

Account Types and Spreads In FxChoice

FXChoice provides 3 main Fxchoice account types to their clients with some differences between the various Fxchoice account types that I’ll state below in this part of Fxchoice review 2024.

The Optimum account

With a Fxchoice minimum deposit of $10, the spread offered on this Fxchoice account type of 1.5 pips. The option to trade with a micro lot is available and no commissions are applied on transactions within this account. A Rebat is added at $2 per side. The maximum leverage offered here is 1:1000 with a 50% margin level.

The Classic account

Fxchoice minimum deposit of $100 with spreads of 0.5 pips. There is no commission applied to this type of Fxchoice account type yet there is a Rebate added up to $2 per side for the amount of $100.000. The maximum leverage offered here is 1:200 only.

The Pro account

The Fxchoice minimum deposit here is $100 however the spreads here go as low as 0 pips. While there is a commission added in this type of account of around $3.5 per side for the amount of $100.000, however, if your trading volume is high, i.e in the case of expert traders, the commission using this account might decrease to reach $1.5 per side. There is no rebate added to the pro account. The leverage offered here is 1:200.

As a matter of fact, all 3 account types share the point criteria:

  • Margin level of 50%
  • The margin call/ stop out is 25/15
  • 36 currency pairs to be traded
  • Indices, Metals & Energies, Crypto, and Shares s the trading instruments available

The option for a Fxchoice demo account is possible to be opened on both the classic and the pro accounts where you can trade or test your knowledge or try out new strategies all in a virtual form without risking your funds before getting to know the market well. From there, and after practice you can proceed with opening a real account.

The classic, the optimum and the pro accounts are all presented on the MT4 trading platform while the pro account only can be opened on the MT5 trading platform which represents a higher update of the MT4. And so Fxchoice in conclusion in regard to the account types is having good options with various choices to match several styles of traders in the market.

Trading Platforms

This Fxchoice review will show the type and the breakdown of the features of the platforms supported by Fxchoice. Where as can be seen per the information on the official website, Fxchoice offers many platforms, such as Meta Trader 4, Meta Trader 5, Mobile Trading, and WebTerminal Meta Trader. Meta Trader is often abbreviated as MT. Both MT4 and MT5 are developed by the company called MetaQuotes which is focused on the financial markets and industry. MT4 and MT5 were designed for individual traders who wish to trade in the forex market.

Metatrader 4 Fxchoice is by far the most popular trading platform in the forex trading industry with some advantageous features. For example, it’s quite user-friendly and you can probably use it in your native language.

Mt4 is the most used, most popular, and award-winning platform in the forex market. The chart analysis tools and display along with expert advisors’ computability with instant and future trade placement made the platform one of the most favourable to the trades, beginners or professionals.

Although MT5 is the next version of Metatrader 4 Fxchoice, it’s not quite popular as its predecessor.

There are six pending order types in MT5 while four ones in MT4. When it comes to ‘Depth of Market’, Only MT5 provides it. MT5 is also included in the Fxchoice pros list with its 38 technical indicators while MT4 only has 30. There are 44 graphical objects in MT5 while 31 ones in MT4. Hedging is available for both trading platforms.

So, Fxchoice in conclusion with regard to the platforms that you can trade with, you can trade on all devices including windows or Mac for PC and android or IOS for Mobile Phones. All you need to do is download the program on the required device and then you’ll be able to trade anywhere anytime.

FX Choice Customer Service

Through this part of the Fx choice broker review, ill discuss my own experience with the customer support of Fxchoice and how it went. The headquarters is stated clearly on the FX Choice website where you can even view their location on google maps if you’d like.

A 24/5 customer service that has won some awards from 2019-2021. With the option to get in touch with the support team if multiple ways whether that is through their customer service number or via a live chat, a callback or even sending an email for any needed queries.

So, if I wanted to sum up the customer service part in this section I’d say that Fxchoice in conclusion when it comes to support is a trusted and reliable support with an adequate customer experience provided to traders around the clock on business days to make sure needed support is given whenever needed.

FX Choice Funding and Withdrawal Methods

Even though the account types are not as variable as one might wish for, the funding methods with FXChoice are quite impressive. This part of the Fx choice broker review will explain the variability of the methods whether it’s for deposit or withdrawal, which are quite a blessing, especially for trades with limited sources to fund their accounts.

With the great options available for choice for deposit and withdrawal, all you’ll need to do is to choose the easiest way for you and make your transactions instantly.

All different types of cryptocurrencies are available for funding. Not just that, you get to have a 15% bonus too when using cryptocurrencies for deposits or withdrawals. Examples of the available cryptos are bitcoin, bitcoin cash, Litecoin, USD coin, Ethereum, Tether, XRP, and more.

There is always the option for credit and debit cards which, as we all know, are a must, whether that is Visa or MasterCard.

E-wallets are also present for funding including Skrill, NETELLER, FasaPay, Perfect Money, PaySafeCard, AstroPay, Poli, Payredeem, and more. With options like AstroPay, Airtm, Skrill, and Epay, there are 0 commission fees on them.

Most of the funding options work for both deposit and withdrawal, so you won’t have to worry about that issue so much.

FX Choice Trading Instruments

You can trade with Forex, CFDs, Cryptocurrencies, Indices, Commodities, and Shares.

Forex: Trading with FX Choice Includes Major, minor and exotic pairs. With the leverage of a maximum of 1:1000.

Cryptocurrencies: Bitcoin, Litecoin, Ethereum and more are examples of the available cryptocurrencies for trade. With a spread that reaches 0.1 pips.

Indices: like DE30INDEX, JAPANINDEX, US30INDEX, UK100INDEX, and more are also available for trade. In addition, trading indices is seen as a good way for a trader to mitigate risk, because indices spread the risk across the market, rather than having all of your eggs in one basket.

Commodities: like Metals and energies are also present that include, including Gold, West Texas Intermediate Crude Oil and Non-expiring WTI Crude Oil (WTICRUDE), and Brent Crude Oil and Non-expiring Brent Crude Oil. These are all considered great tools for speculating on commodities during economic crises.

Shares: you can trade shares of the biggest companies and organizations in the world including Apple, Amazon, Microsoft and more.

After breaking down all the details about the trading instruments offered, I guess Fxchoice in conclusion with regard to the trading instruments can lie in the fair zone where we can say it’s not the widest variety offered nor it’s the scarce amount of options.

FX Choice Bonus & Promotions

FX Choice is having fixed bonuses and promotions offered which makes a great addition to Fxchoice pros for both FX Choice and the trader in which, it makes Fxchoice gain favorability with the trader and makes the trader gain more profits when meeting the terms and win the bonuses.

Make sure to read all terms and conditions of each bonus beforehand to make sure you satisfy all terms and that you’re eligible for any of the bonuses.

These bonuses are 3 main promotions:

  1. 65% Bonus on Crypto Deposits
  2. 50% Welcome Bonus
  3. $250 Friend Referral

65% Bonus on Crypto Deposits

When using cryptos for deposits on real accounts, you get, pretty much the perfect start to your account where you can get a 65% extra bonus on your deposit. You’ll need to meet the criteria for the bonus and if you do then you are guaranteed a top-up with 65%.

These cineraria include making deposits in any type of crypto deposit. The bonus can reach up to $10.000 per month, and there are no commissions or conversion fees for using cryptos too.

50% Welcome Bonus

This type of bonus is considered one of the most famous yet most favourable types of bonus in the forex market. The amount of the bonus can vary according to different brokers but here, with FX Choice, you can get up to a 50% welcome bonus when you deposit your new real account within a week of after the verification that is to be done on your newly opened account.

If you were an EA user, you can get a free VPS service with that bonus too. This bonus is available on non-crypto deposits and it can reach up to $10.000 per month.

$250 Friend Referral

Imagine talking about your trading experience and drawing in your friend to join the same broker so you can all trade together so it would be a fun trade plus gaining a bonus on top of all that.

That is exactly the case with the FX Choice referral program. You can get $25 for every $100 deposit our friends make on their accounts. Where your referral gets to have a 15% deposit bonus too. You can even elevate your status on Fxchoice‘s platform to an affiliate one if you got 5 referrals to join FX Choice.

After reviewing all the information about the bonuses offered by Fxchoice, I can state that Fxchoice in conclusion with regard to bonuses is offering a fair share of offers to their clients and it’d also mean you’d be offered plenty of choices in case choosing to deal and trade with Fxchoice.

Conclusion

The question ‘Is FX Choice reliable?’ Well, I don’t have a short answer to the question. Fxchoice isn’t regulated by a major watchdog. Yet, the FSC of Belize is still a regulating authority that has provided its license to FX Choice. So at the end of the day, it’s a regulated broker. While there are many Fxchoice reviews about what to do and what not to do when it comes to Fxchoice, I think after reading this Fx choice broker review you will reach the right decision.

However, the feedbacks from customers are quite good. So it’s up to your definition of trust. If you only trust the foundations that regulate the market. Fxchoice maybe not be for you. If you trust customer feedback, you can also trust the firm.

The minimum deposit requirement isn’t high as it falls within the average of the industry. FXChoice has maximum leverage offered of 1:200 and low spreads along with 2 different Fxchoice account types and an option for a demo account which can also be included in the Fxchoice account types.

Also in this Fxchoice review, we’ve reviewed the platforms offered which are the forex market’s most famous Metatrader 4 Fxchoice and MT5, along with the multiple trading instruments offered for trading to offer versatility to the trading accounts of the investors. The instruments didn’t seem quite enough considering the unlimited amounts of instruments offered by other brokers in the market.

3 fixed bonuses are present which are great for a flying start of your real account with Fxchoice and a great variety of funding options.

Their customer service is adequate considering their awards and feedback from the clients. Personally, I think it’s quite satisfactory.

So all in all, Fxchoice in conclusion is having more positive than negative. But it doesn’t mean that Fxchoice is perfect.

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FXChoice Review
Rating: 5.5