Welcome to the topic “FX Choice Broker Review.”
FX Choice Broker is a very popular, and highly rated online broker that accepts worldwide members (Including the US). They have flexible products, different accounts, and other instruments that can benefit both newcomers and expert-traders.
FX Choice is suitable for all types of traders, because they don’t have any strict requirements for entry. Also, they provide you a chance to expand your trading portfolio.
After reviewing this platform in detail, we get to know that it is best for those who wish to access increased leverage. This is because they are regulated in Belize.
They were founded in 2008 but started working officially in 2010. Since the start, they have become the most trusted and well-known brokers for thousands of traders globally.
FX Choice is famous and reputed because they are committed to offering quality trading products. They have won multiple awards as well within the industry, many of which are centered on their “Excellent Customer Care Services.”
Like other brokers, FX Choice does offer Forex and CFD trading opportunities. You can trade more than 38 currency pairs, including emerging currencies such as; Rand, Ruble, and Krona.
You can also trade CFDs including gold, silver, and crude oil. With the help of CFD trading, you can gain the protection of precious metals in your portfolio.
Regulation of FXChoice Broker
Regulation is important, it helps you know whether the platform is safe enough for your investment or not.
FXChoice Broker is regulated by the International Financial Services Commission (IFSC).
IFSC is the Belize Government agency that is responsible for financial regulation. It is responsible for regulating all financial market participants, exchanges, and the settings of financial regulations. (Source)
Let’s now talk about the account types.
Account types of FXChoice Broker
There are three types of accounts that FXChoice Broker is offering:
- Classic Account
- Pro Account
- Demo Account
Classic Account
| Minimum Deposit | Starts from $100 |
| Spread | 0.5 Pips |
| Minimum Lot Size | 0.01 Lots |
| Maximum Lot Size | FX Market-1000 Lots and Cryptocurrencies= 5 Lots |
| Commissions | None |
| Swap Points | Dependent on market |
| Leverage | 1:200 |
| Lock Positions | 50% |
| Execution | NDD and Market Execution |
| Stop Out | 25/15 |
| Currency Pairs | 38 |
| Spot Metals | Gold and Silver |
| EAs Permitted | Yes |
Pro Account
| Minimum Deposit | $100 |
| Spread | 0 Pips |
| Minimum Lot Size | 0.01 Lots |
| Maximum Lot Size | FX Market-1000 Lots and Cryptocurrencies= 5 Lots |
| Commissions | $3.5 per $100,000 |
| Swap Points | Dependent on market |
| Leverage | 1:200 |
| Lock Positions | 50% |
| Execution | NDD and Market Execution |
| Stop Out | 100/80 |
| Currency Pairs | 38 |
| Spot Metals | Silver and Gold |
| EAs Permitted | Yes |
Demo Account
| Classic Account | Pro Account | |
| Minimum deposit | $100 | $100 |
| Tight spreads starting from | 0.5 pips | 0 pips |
| Minimum lot size | 0.01 lots | 0.01 lots |
| The commission (negative figure under ‘Commission’ in trade history) | — | $3.5 per side ($1.5 for high-volume traders, see Pips+), per notional amount of $100,000 |
| Rebate added (above-zero figure under ‘Commission’ in trade history) | Up to $2 per side, per notional amount of $100,000. See Pips+. | — |
| Leverage | Forex, metals – up to 1:200; more markets. | Forex, metals – up to 1:200; more markets. |
| Margin level for hedge/lock positions | 50% | 50% |
| Execution | NDD, Market | NDD, Market |
| Margin call/ Stop out | 25/15 | 25/15 |
| Forex CFDs | 36 currency pairs | 36 currency pairs |
| More CFDs | Indices, Metals & Energies, Cryptocurrencies, Shares | Indices, Metals & Energies, Cryptocurrencies, Shares |
| Any EAs permitted | ✓ | ✓ |
We have collected this information from the official website of FXChoice Broker. You can check the information by Clicking Here.
Trading Platforms
Whether you’re a new trader or experienced, you need a variety of trading tools to outsmart the market. Therefore, there are three types of trading platforms that FXchoice broker is offering:
- MetaTrader 4
- MetaTrader 5
- Mobile Trading
Key Features of MT4
- User-Friendly
- Multilingual Platform
- Charts Analysis Tools
- Multi Charts and Analysis Display
- Instant and Future trade placement
- Expert Advisor Compatibility
Key Features of MT5
- No limited Orders
- Market Depth Analysis and Display
- Professional Charting Tools
- Availability of Traditional netting and Hedging options
- More than 80+ indicators
- Multilingual Platform
With the help of Mobile Trading, you can now have access to the market within no-time. The mobile applications contain many analytic tools and there’s no one stopping you from trading even if you’re traveling.
Comparison of MT4 and MT5
MetaTrader 5 MetaTrader 4
| Pending Order Types | 6 | 4 |
| Depth of Market | ✓ | ✗ |
| Technical Indicators | 38 | 30 |
| Graphical Objects | 44 | 31 |
| Timeframes | 21 | 9 |
| Economic Calendar | ✓ | ✗ |
| Embedded MQL5.community chat | ✓ | ✗ |
| Strategy Tester | Multi-threaded Multi-currency Real ticks | Single thread |
| Hedging | ✓ | ✓ |
All the information written here about the trading platform is collected from the official website. You can check it by clicking here.
Note* You can download the trading platform from the FXChoice Broker website and you can use it on any device.
Customer Care Service
FX Choice Broker is an award-winning company for providing the best Customer Care Services. You can contact customer service via:
- Phone Call
- Email Address
- Live Chat (on the website)
The Spread of FX Choice Broker
Each account type has a different spread, and for expert traders, the spread is always a game-changer. This is why they look for “Spread” before opening an account.
FXChoice Broker has two types of accounts with different spreads:
- Classic Account
- Pro Account
The spread of Classic Account starts from 0.5 pips and Pro Account starts the spread from 0 pips.
Let us know in your comments which account is suitable for you and why?
Execution Time
There are two types of executions FXChoice Broker have:
- NDD Execution
- Market Execution
What is NDD Execution? NDD stands for No Dealing Desk Execution and this execution provides you unfiltered access to interbank market rates of exchange.
Market Execution: Market execution is a type of forex execution in which the client places the order and specifies the volume only. The broker has to buy the order with the current price and can’t request the client for the price change in case of any “Market price changes.”
There’s a piece of bad news for the instant execution lovers, because they aren’t offering it.
Leverage/Margin
Leverage of Classic Account: Forex, metals – up to 1:200
Leverage of Pro Account: Forex, metals – up to 1:200
Margin Levels of Hedge: 50% for both the accounts.
It’s time to talk about “How to open an account on FXChoice Broker.”
So, without wasting any time, let’s get started.
How to open an account on FXChoice Broker?
Opening the account on FXChoice Broker is pretty easy. Just follow the instructions given below and you’re done.
- Head towards the official website of FXChoice Broker or Click Here
- Click on the register now button. It will redirect you to the account opening page.
- Now fill in all the information and choose the account type.
- Click on the Next Button and verify your identity.
- That’s all
You’ll be notified about your account opening by SMS or Email. The account opening process might take up to 24 hours.
How to Withdraw & Deposit Money?
Depositing/Withdrawing money is super-easy. You can do it by following the steps given below.
- Login to your account.
- Head towards the menu and click on the withdraw/deposit option.
- Fill the form, and then choose the payment option. Note* They have so many payment options available.
- Now submit the form and wait for the FX Choice to review.
They will send you a confirmation email within 10-15 minutes.
Let’s now compare FX Choice Broker with another market giant.
Comparison of FXChoice Broker with Tradersway
| FX Choice Broker | Tradersway |
| Two types of account: For beginners and professionals | Four Types of accounts: For beginners, professionals, experienced and VIPs |
| Regulated by IFSC | Regulated by None |
| Founded in 2008 | Founded in 2010 |
| Maximum Leverage: (1:200) | Maximum Leverage: (1:1000) |
| Trading Platform: MT4, MT5 | Trading Platform: MT4 and cTrader |
| A lot of payment and depositing methods. Including Bank Transfer and crypto transfers | A lot of payment and depositing methods. Including Bank Transfer and crypto transfer |
Which Trading Platform is best for you?
| MetaTrader 5 | MetaTrader 4 | |
| Pending Order Types | 6 | 4 |
| Depth of Market | ✓ | ✗ |
| Technical Indicators | 38 | 30 |
| Graphical Objects | 44 | 31 |
| Timeframes | 21 | 9 |
| Economic Calendar | ✓ | ✗ |
| Embedded MQL5.community chat | ✓ | ✗ |
| Strategy Tester | Multi-threadedMulti-currencyReal ticks | Single thread |
| Hedging | ✓ | ✓ |
Advantages and Disadvantages of FXChoice Broker?
| Advantages | Disadvantages |
| They have different bonuses, contests, and promotions for active traders. | They aren’t regulated by FCA. |
| FX Choice is regulated by IFSC. | Instant Execution isn’t available. |
| With more than 100k active traders online, they are one of the most trusted brokers. | Hedging isn’t available for Classic Account |
| The minimum deposit fee is $100. | |
| Accounts are available for beginners and professionals. Demo accounts are also available. | |
| FX Choice Broker provides award-winning customer care service. |
Bonuses, Contests, and Promotions
You’ll get a 15% bonus on your first deposit. You can’t get more than a $5000 bonus. Also, you can’t withdraw the bonus amount unless and until you use it for trading.
Additionally, a few traders will be awarded $10k per month as a gift from FXChoice Broker.
There are always contests and promotions going on, and you can read about them Here, on their official website.
We aren’t mentioning any specific contests or promotions here, because they change every month.
Have any questions in mind? Do let us know in your comments. We love hearing from our readers.
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