FX Choice Review

Country : Belize

Max. Leverage : 1:200

Demo account :

Foundation : 2010

Min. Deposit : 100 USD

US Clients :

4.1

Start Trading

FX Choice is a broker for Forex and CFD trading that is located in Belize and is operated through the firm FX Choice LTD. The company was founded in the year 2010 and has seen a significant increase in traffic and has been able to complete around 15,000 transactions daily.

It permits traders to trade in just under 40 currency pairs , as well as a wide range of CFDs that include precious metals, energies commodities, and indices. This review will walk you through the different aspe

Broker Regulation Summary

Regulation	Name Of Regulation	Country	What is
IFSC	International Financial Services Commission	Belize	Forex brokers in Belize are regulated by the International Financial Services Commission (IFSC), an independent self-regulatory agency under the Ministry of Belize Securities and International Financial Services Commission Act.

Max. Leverage 1:200

Min. Deposit 100 USD

FX Choice Advandage and Disadvandage

Advandage

They do offer a commission discount for active traders. That means the more people trade, the more money they make. For people trading for fun or as a hobby when they have the time, this does not matter a whole lot as chances are they will not be trading enough to get the discount. However, people who spend a lot of time and effort trading, especially those who use it as a primary source of income, will find this extremely beneficial. It is not a huge discount, but every dollar counts.
It is regulated in Belize. While the regulation is fairly liberal, there is some which makes it more trustworthy than some other brokers. It has also been around for a decade, which means it has built up some credibility. It is known to have excellent service and support; LiveHelpNow has awarded it the Exceptional Customer Service award on multiple occasions.
It offers competitive spreads, which makes the pricing very much worth it. Spreads are one of the most important things to consider when picking a Forex broker. If a broker does not have goods spreads, it is not a good option.
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. You do not have to risk too much of your own money when you do not know what you are doing yet.
You can use both MetaTrader 4 and MetaTrader 5. They are the most popular trading platforms. Of course, if you are interested in a different platform, you need a different broker as FX Choice only offers platforms developed by MetaQuotes Software Corporation.
They do offer some extra tools such as a VPS. Extra tools are always as a benefit, as they are above and beyond what is required for you to be able to trade.
FX Choice has a positive price correction. This means that if a trader slips into negative balances due to special circumstances, FX Choice will zero out the balance. This prevents people from losing more money than what they originally plan to trade.

Disadvandage

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 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.
FX Choice does not offer very many research tools. This may not matter to some people because they use research tools from another platform or simply do not want to use them at all. But for others, research tools are extremely important.
FX Choice only offers a small range of tradeable instruments. If they have the instruments you want to use, this will not be a problem, but if they do not, this is not the broker for you.

Types of Accounts

We recommend that our clients try a broker using the use of a demo Account first. This will allow you to examine the trading terms of the broker as well as any strategy, as well as Expert Advisors.

This FX Choice review, we will explain in detail the various types of trading accounts offered by the broker.

There are two kinds of accounts you can open using FX Choice. You can create an account as a professional account or the Classic one. There aren’t significant distinctions between the two. Both require the minimum amount of 100 dollars and an minimum size for trades in the range of 0.01, both of which are pretty standard in all Forex brokers.

The main distinction between them are that Classic account is free of commissions and thus offers better spreads.

However, The Pro account is built on commissions and has smaller spreads as a result of ECN.

Its average spread on the Classic accounts is 1.2 pip on EUR/USD The average spread of Pro account is 1.2 pips. Premium account is 0.5 pip on EUR/USD or $3.86 for each lot. There are some differences in addition to the above.

If you decide to sign up for the Pro account, you will have an option of desktop platforms. You’ll be able to utilize MetaTrader 4 as well as MetaTrader 5.

Remember the fact that MetaTrader platforms are designed by a an entity that is a third party called Meta Quotes. Brokers, like such as FX Choice pay yearly fees for the service they offer for their customers. The fee is higher than $75 000.

In the event that you encounter any issues with MetaTrader don’t be quick and blame your broker. MetaTrader 5 has still many bugs that remain unfixed. This is the reason why many traders choose to utilize MetaTrader 4.

It’s much more comfortable for traders using algos. This is the reason the trader Petko Aleksandrov is using MetaTrader 4 in his classes. It gives a selection of direction for Experts in assembling several EAs by one click, as well as simpler Magic numbers to use.

In this FX Choice Review, we will give you more details on the company, and leave it to you to decide which kind of account you’d like to make use of.

In addition to the two kinds of accounts, you have the option of opening either the account as a personal or corporate account. Corporate accounts permit many traders to utilize the account, whereas an individual account is intended for a single person to utilize.

This allows you to have many more options than Pro and Classic to make sure that the information on your account are what you require it to be.

FX Choice Review for the trading conditions

The minimum deposit required for initial deposits is the amount that an FX broker demands for you to pay in order to begin. There are many Forex brokers will each have different requirements for deposits. The majority of Forex brokers offer different options for accounts with various minimum requirements to meet the needs of all types and expert level traders.

This isn’t the case with FX Choice. FX Choice demands at least a 100-dollar initial deposit for Classic as well as Professional account holders. This is a quite sensible demand. It is also possible that you may go above the 100 dollars limit if you wish to.

The spreads of FX Choice vary based on the type of account you have However, they don’t vary in any way. A spread is the of the difference in where traders can buy or sell an asset. The average for both Pro Classic and Classic accounts is very good.

In Forex trading permits you to make use of a tiny amount of your funds to manage/trade more of a sum. Different Forex brokers offer different amounts of leverage. This is the highest ratio you can control with your cash.

FX Choice comes with the highest leverage at 1:200. This is a bit average for the world of forex trading. Expert traders might want the possibility of having more leverage 1,200 is a good ratio for most traders, and especially novice traders who might not have all the details of trading forex.

Review of FX Choice on the features that MetaTrader offers from the brokerage:

allows trading using algorithms with EAs
includes virtual trading
a desktop platform
a web platform
Copy and social trading
51 charting indicators/studies
seven watchlists
Stop trailing

Here are some features of which FX Choice does not offer. FX Choice does not offer an exclusive platform and doesn’t offer the cTrader.

FX Choice provides:

wire transfers
credit and debit cards
various e-wallets.

FX Choice Review of the e-wallets that are offered through the brokerage:

Skrill
Neteller
Bitcoin
E-Payments
Astropay
Trustly,
FasaPay
Perfect Money
PaySafeCard.

The payment can take the form of United States Dollar (USD) as well as Euro (EUR), Euro (EUR) and Euro (EUR), British pounds sterling (GBD) as well as or the Australian Dollar (AUD) and The Canadian dollars (CAD) as well as obviously, Bitcoin. The variety of options available will be available to the majority of Forex traders. If you prefer an alternative currency, you are able to change it afterward.

FX Choice Summary
FX Choice Details	Information
Regulators	IFSC
Country	Belize
Base Currencies	USD
Type Of Brokers	ECN
Trading Platform	Desktop, Mobile, MT4, MT5
Established Year	2010
Website Language	English
US Clients

FX Choice Spreads
Option	Information
Minimum Spreads	0.1
Commission
Fixed Spreads

FX Choice Payment & Withdrawal Option
Option	Information
Acc Funding Methods	Skrill, Wire transfer, Visa Card, Master Card
Acc Withdrawal Methods	Skrill, Wire transfer, Visa Card, Master Card

FX Choice Suitable For
Option	Information
Publicly Traded
Beginners
Day Trading
Weekly Trading
Professionals
Swing Trading

FX Choice Trading Account Options
Option	Information
Maximum Leverage	1:200
Mini Account
VIP Accounts
Segregated Accounts
Free Demo Accounts
Managed Accounts
Pro Account
Minimum Deposit	100 USD
Islamic Account

FX Choice Trading Services
Option	Information
Hedging
News Trading
Scalping
Automated Trading
Indices
Commodities
Forex instruments
CFDs
ETFs
Stocks
Bonds
Cryptocurrencey
Trading Signals
Educational Service
Copy Tradings

FX Choice Contact & Support
Option	Information
Telephone No	+52 558 526 80 32
Email	info@myfxchoice.com
24 Hours Support
Support During Weekends
Address	Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize