In this MyFXChoice Review, we are going to take a look at the offer that this broker prepared for its traders. MyFXChoice operates on the financial market since 2010. When it comes to trading platforms, the broker features MetaTrader 5 and WebTrader and MetaTrader 4. The MyFXChoice 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 MyFXChoice Review
| Website address: | 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: | |
| Contact details: | [email protected], 52 558 526 80 32 |
| Available deposit methods: | VISA, MasterCard, AstroPay, Bitcoin, ePayments, Ether/Ethereum, FasaPay, Neteller, PaySafe Card, PerfectMoney, Poli, Qiwi, Rapid Pay, Skrill, UnionPay |
| Available withdrawal methods: | Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Skrill |
| Minimum deposit: | 100 USD |
| Min. trade in lots: | 0.01 |
| Spreads: | Typical spread on the currency pair EUR/USD - 1,5 pips * on standard account type |
| Tradable assets: Might be a CFD. | Forex (35), cryptocurrencies (2) |
| Mobile app: |  |
| MetaTrader 4: | |
| Other trading platforms: | MetaTrader 5 and WebTrader |
| Social trading: |  |
MyFXChoice Fees (typical spreads)
We have scanned fees (typical spreads) that MyFXChoice charges when trading popular currency pairs, here is their breakdown in pips.
| EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
|---|---|---|---|---|---|
| * | 1,5* | * | * | 2,1* | 1,7* |
*Typical spreads were recorded on 17.01.2020 at 21:21 for the standard account. MyFXChoice 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: Colmex Pro, MarketsCube, GKFX and SpreadCo
Frequently Asked Questions
🧐 Is MyFXChoice a Scam?
In accordance with our research, MyFXChoice 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 MyFXChoice is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the MyFXChoice minimum deposit?
In order to start trading with MyFXChoice, you have to deposit at least 100 USD.
📵 What deposit and withdrawal methods MyFXChoice supports?
⚖️ Would you recommend me choosing MyFXChoice?
We don’t have our own personal experience with MyFXChoice. 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 MyFXChoice.
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.
