Commission fees are charged only precious metals and forex. Traders who have traded on the MT4 trading platform can still enjoy the same features on MT5 with a slightly enhanced overall trading experience. FXChoice does not have any debit balance guarantee or negative balance protection that implies that the trades will be closed automatically before the account balance turns negative. FXChoice is a legit crypto broker, but it does not allow traders from the United States of America.

Going back and forth with FXChoice regarding my issue, first they said that I could only withdraw with VLoad but that’s not true because they had already allowed me to withdraw with Bitcoin. Just wanted to leave a review of FX broker ‘FX Choice’ after a rather disappointing encounter with their support staff. It was such a pleasure to read your positive review of our services.

  • In case you were scammed by an FXChoice broker, you are not the only victim of FXChoice scam.
  • Its supervision focuses on promulgation of regulation and a mandatory code of conduct, as well as the licensing process.
  • They invest heavily in ensuring their platform is equipped with the latest in cybersecurity.
  • The FAQ section is bundled with educational topics like Common Knowledge and Expert Advisors 101 sections.

FXChoice work tirelessly to ensure the protection of trader’s data and guarantee the safety of transactions. FXChoice is a financial broker launched in 2010 and regulated in Belize. Since then, it has emerged as a leading online broker, specialising in Forex and CFD trading for individuals, as well as institutional investors and fund managers. It has not been given any license from a well-known financial regulator authority and this proves it to be a scam.

See how FX Choice compares to the leading forex brokers by reading one of the reviews below. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.

African Markets

The latest FXChoice review suggests that the company operates illegally and without a proper financial regulatory license. I declare that my review is based on my own experience and represents my genuine opinion of this broker. FXChoice has been in existence for 7 years now and it has proven to be a top-class Forex broker over the years since its establishment.

A pippet is equal to 1/10 of a pip and is a minimum change in a quote. All transactions are processed securely, safely, and reliably, first and foremost by utilizing advanced encryption technology that guarantees your privacy and security. FXChoice focusses on technology as it believes being ahead of the curve in the trading field gives it the edge on its competitors, as online trading is highly competitive. Finding a reputable FXChoice review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. A request to settle a debt, taxes or other amount owing and to send money via courier, prepaid bank card or gift card. FXChoice uses NDD technology and it has grown to execute approximately transactions per day.

Account Types:

Which withdrawal options are aloud, are there minimum amounts, fees etc. It allows the traders to trade with a spread starting from 0.1 Pips. For the ECN environment, it has a low initial deposit of only 100 dollars. Most traders will end up depositing more as time goes on, and possibly more from the beginning, but 100 dollars is a great starting point for new traders.

The company prides itself on providing clients with excellent customer support and service. The way this Forex brokerage differentiates itself from the competition is by focusing on its ethical business management. Multiple awards attest to the quality of the Forex broker’s services, including Exceptional Customer Service provided by LiveHelpNow ndax on multiple occasions. This Forex broker makes lofty promises of attending to all trading-related concerns and resolving them no matter how seemingly insignificant they are. The company’s mission is to operate on the cutting edge of the tech arena by providing low spread Forex services to all traders in regulated countries.

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The biggest con for FX Choice is the fact that it is only regulated by a single tier-3 jurisdiction, which makes it riskier than some other trading platforms. There is always some risk in Forex trading, but when Credit note a broker is well regulated, it becomes substantially less risky. You have to decide if a good reputation is enough for you to trust a broker, or if you really would prefer tier-1 or at least tier-2 regulation.

FXChoice forex broker offers both MetaTrader 4 and 5 mobile trading platforms for traders who wish to trade on the go. Traders can access the FXChoice platform on their iOS and Android devices to trade, manage their positions, and follow the market even while they are away from their computer system. The MT 4/5 mobile apps can be downloaded for free from any relevant apps store like PlayStore or AppStore. 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.

Anyone with a balance of $3000 or more qualifies to use the FXChoice service. As mentioned, FXChoice customers gain access either to MT4 or MT5 depending on their account type. While this is a wide array of CFD options, the fact is that CFDs, the riskiest financial instrument, remain the only choice on FXChoice. You’re not even trading in Forex or cryptocurrencies directly. You’re opting for contract-for-difference derivatives, an extremely complex financial product.

FxChoice provides their clients with a myriad of choices on the trading platforms. MetaTrader 4, MetaTrader 5, as well as Myfxbook Autotrade these are the trading platforms that a client can choose between. When it comes to the MT4 and MT5 platforms, they do not only offer access to the CFD and forex market but they also help the clients to invest in the options and futures market. Moreover, the MT5 platform allows the client to trade in the stock market too. One of the things that make FXChoice really special is the fact that they allow traders to trade on more than 40 currency pairs and a plethora of other CFDs. And they offer their clients with amazing trading experience with the help of two exceptional platforms.

Is Fxchoice Legit

People looking to do lots of mobile trading may want to look for a different broker with a more advanced mobile service. Some Forex traders are fine with a company that has a good reputation, but others need the added insurance ifc markets review of a tier-1 or tier-2 regulatory jurisdiction to feel safe. If you are one of the later, it is important to know that FX Choice does not have that, and therefore you may want to consider using a different platform.

Customer Service

Unlike most forex brokers, who usually set up different initial investment for different account types, FXChoice demands $100 from both Classic and Pro account holders. This is a comparatively low initial investment for ECN environment. FXChoice supports diverse deposit and withdrawal channels, including major credit cards, e-wallet providers and cryptocurrencies. Also, recently it started accepting direct wire transfers so if you want to deposit larger amounts of capital into your FXChoice brokerage account, you can safely do so from your bank account.

This Forex brokerage offers multiple software options vis-à-vis the trading platforms. These include MetaTrader 4, MetaTrader 5, and mobile trading options. With MetaTrader 4, Forex traders and CFD traders get to enjoy a powerful set of analytical tools and resources designed to automate trades and allow for maximum functionality. MetaTrader 5 is a rising star in the CFD and Forex arena. This trading platform is the next generation MT4 platform, and provides clients with additional market analysis, resources, and order types. FX Choice offers two different account types – Classic and Pro.

FXChoice has only two trading accounts on offer, a Classic Account, and a Pro Account. Both 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 Dividend real money. Forex traders can also open demo accounts after they have installed the MetaTrader platform. FXChoice offers bonuses – Forex brokers offering bonuses is a rarity these days. The company offers a competitive bonus to new customers.

If you want to get in touch with customer support then you have several different options available. Simply click on the chat button and a pop up window opens – you can then talk to a customer service rep as soon as you have entered your contact details. Alternatively there is a client support line too, and a phone line for general queries. There is also a callback function which some may find useful. Aside from the above contact methods, FXChoice are also active on social media.

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