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FXChoice Review

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Editor's Review

FXChoice Rating
8.33
8 Security
9 Spreads
8 Customer Service

Founded in 2010, FXChoice Limited (MyChoiceFX) is a MetaTrader-only broker regulated by the International Financial Services Commission (IFSC) of Belize. It offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes Software Corporation.

MyChoiceFX offers 50 instruments, which include 38 forex pairs, and CFDs on seven indices, two energy contracts, two metals, and on bitcoin.

 

Trading Accounts

Clients of FX Choice are provided with a choice of two account types: Classic and Pro. The main difference between the two is that the Classic one is commission-free, offering higher spreads, while the Pro account is commission based and provides tighter spreads due to the ECN environment. Besides, only the Pro account offers a choice of desktop platforms – MetaTrader 4 and MetaTrader 5.

 

The Company & Safety of Funds

FXChoice is a broker specializing in Forex and CFD trading for private clients, institutional investors and fund managers. Having around a decade of experience in the forex industry, the brokerage strives to provide excellent service and customer support. In 2016 alone FXChoice was awarded the Exceptional Customer Service accolade by LiveHelpNow on 5 occasions.

The company behind the brand, FXChoice Ltd., is headquartered in Belize and regulated by the local International Financial Services Commission (IFSC).

 

Commissions & Spreads

This broker offers competitive variable spreads, which vary by account type. Nonetheless, trading costs on both accounts are similar, amounting to an average of 1.2 pips on EUR/USD per (ECN account holders are offered spread averaged 0.5 pips on EUR/USD incurring a commission of $ 7 per lot round turn).  So, FXChoice’s pricing is pretty attractive

 

Leverage

The maximum leverage provided by FXChoice is 1:200. It is high if you say so, and it is low if you say so. Because high leverage doesn’t mean its always good when you are trading.

 

Platform

The broker supports several trading platforms, MetaTrader4, MetaTrader 5, as well as Myfxbook Autotrade.

 

Deposit & Withdrawal

This broker provides a variety of payment methods to its clients: wire transfer, credit/debit card, e-wallets: Skrill, Neteller, FasaPay, BitcoinPerfect Money, ePayments, Trustly, Astropay, and PaySafeCard.

Accounts can be opened in USD, EUR, GBP, AUD, CAD, and Bitcoin.

 

Conclusion

Despite its looser regulation, FXChoice is a reliable award-winning NDD broker with more than 10 years of experience in the forex industry. It offers fast market execution and competitive trading conditions on a variety of trading platforms.

 

 

 


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