In this FxChoice Review, we are going to take a look at the offer that this broker prepared for its traders. FxChoice operates on the financial market since 2010. When it comes to trading platforms, the broker features MetaTrader 5 and MetaTrader 4. The FxChoice minimum deposit is 100 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this FxChoice Review
Website address: | https://myfxchoice.com/ |
Operated by: | FX Choice Limited |
Licensed and authorised by regulatory bodies: | IFSC |
Supported languages: | English, German, Spanish and Portuguese |
Customer support available via: | E-mail, phone |
Available deposit methods: | Bank transfer, Skrill, Neteller, Bitcoin, Bitcoin cash, Litecoin, Etheruem, Ripple, Tether, Debit and Credit Cards (Visa + MasterCard), AstroPay, ADV Cash |
Available withdrawal methods: | Bank transfer, Skrill, Neteller, Bitcoin, Bitcoin cash, Litecoin, Etheruem, Ripple, Tether, AstroPay, ADV Cash |
Minimum deposit: | 100 USD |
Min. trade in lots: | 0.01 |
Spreads: | Typical spread on the currency pair EUR/USD - 28 pips * on standard account type |
Tradable assets: Might be a CFD. | Forex (35), cryptocurrencies (3) |
Mobile app: | |
MetaTrader 4: | |
Other trading platforms: | MetaTrader 5 |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:200 |
Social trading: |
FxChoice Fees (typical spreads)
We have scanned fees (typical spreads) that FxChoice charges when trading popular currency pairs, here is their breakdown in pips.
EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
---|---|---|---|---|---|
95,9* | 28* | 75,0* | 82,0* | 66* | 69,7* |
*Typical spreads were recorded on 26.07.2020 at 11:16 for the standard account. FxChoice spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: XLNTrade, ATC Brokers, INGOTBrokers and NoorCapital.ae
Frequently Asked Questions
🧐 Is FxChoice a Scam?
In accordance with our research, FxChoice is a broker licensed and regulated by the IFSC. While it is a good thing that the broker is regulated, the IFSC regulatory agency is in comparison to 1st tier regulatory bodies like the CySEC one of the weaker regulatory authorities when it comes to investor protection. In order to be sure that FxChoice is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the FxChoice minimum deposit?
In order to start trading with FxChoice, you have to deposit at least 100 USD (Trading accounts can also be held in USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP).
📵 What deposit and withdrawal methods FxChoice supports?
⚖️ Would you recommend me choosing FxChoice?
We don’t have our own personal experience with FxChoice. However, the broker is regulated by the IFSC which does not provide as strong protection to traders as 1st tier regulatory bodies (Like the British Financial Conduct Authority). Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with FxChoice.
Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs
You should consider whether you can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.