FXChoice Review Pros Cons, Cryptos & Bonus Pass or Fail

Another unique type of account is the Islamic account and both the classic and pro accounts can be converted to Islamic accounts that are swap-free at FXChoice. To open an Islamic account, a client needs to open an account and go to the Profile section. By clicking on the Islamic accounts tab and following the easy instructions, they can submit the request and start using the account within seconds. The FXChoice security measures are excellent, too, as they do everything in their capacity to protect clients’ capital. The deposits are held safely by the platform in segregated accounts, and they are kept entirely separate from the corporate ones.

I would if I had them, or are UK citizens banned or not welcome. Hello guys, got to know about this broker through Samuel leach and the experience been really good. This broker has really tight spread on their financial security…and I like the fact that their execution is fast and prompt….loving my experience with them.

• However, FXChoice does allow you to follow trading signals.
• You can open Classic MT4, Pro MT4, and Pro MT5 demo accounts.
• You need to contact your Money Manager if you are unhappy with the way he traded on your behalf.
• Spreads begin at only 0 pips, which is tighter than the standard account.

With that said, the FSC is not a top-rated financial regulator like the CySEC or FCA. When we used FXChoice we found that client transactions are processed safely. All communication is encrypted using SSL technology and all passwords are encoded. Server times can be found below and in the online product guide. In addition, FXChoice has partnered up with ZuluTrade to offer copy-trading solutions.

What Is FXChoice?

Blown about 7k over the years of membership…have never managed a positive withdraw ever…. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. The Web Terminal, available for both MT4 and MT5 users, allows users trade from their favorite browser without the need to download additional software. The FX Choice website states that VPS customers receive order latency of 7ms.

👉 FXChoice’s lack of regulation is a disadvantage since the company has just an offshore license. In addition, there is a dearth of comprehensive teaching materials and a paucity of trading tools and resources. ➡️ Nigerian traders will receive a confirmation link via email, and they can click this link to confirm the withdrawal.

Today was my first time using this broker, and it is great. Im usually sceptical about brokers but I recommend this broker for anyone to try out. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service. Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website.

Found it easy to trade, fast execution, less spread are the features i like very much. 1) We believe our Spreads are very competitive, and we can assure you that we don’t increase them ‘just to activate the trade’. They come directly from our LPs, and we pass those directly on to our clients. I actively used used FxChoice for a month and decided I’ll never use that broker again in my life. I am an experienced trader with 10+ years of experience and used a lot of brokers. Please write your review in the comment section below.

While many traders may think these are limited offerings compared to other forex brokers, this FXChoice review will focus on various other opportunities that can diversify a trader’s portfolio. The minimum fx choice review deposit is $100 and the processing times depend on the desired payment processor. The FAQ section notes potential internal withdrawal costs, while traders must also consider third-party charges.

FXChoice Pros and Cons 2023

👉 Overall, FXChoice is considered high risk, with an overall Trust Score of 50 out of 100. FXChoice is licensed by zero Tier-1 Regulators , zero Tier-2 Regulators , and one Tier-3 Regulator . FXChoice offers two retail trading accounts namely an MT4 Classic and MT4/5 Pro Account. Moreover, the MT5 platform features 44 graphical objects, 38 technical indicators, and 21 built-on timeframes. It also features an economic calendar coupled with an embedded community chat. The strategy tester is both multi-currency and multithreaded with real-tick data.

A further differentiating characteristic of the pro account is that it provides access to a greater variety of tradable instruments. Note that traders from the United States can also trade on this platform even though they are not regulated in the US. FXChoice is operating as a No Dealing Desk offshore forex broker, headquartered in Belize. According to experts, this does not necessarily reduce the level of security of the funds. FXChoice is fully regulated by FSC, Finances Services Commission Belize and this itself is a potential security measure.

Not only is the broker regulated, but they also have various systems in place to protect your funds. These include segregated client accounts and an internal risk management program. This allows you as a trader to gain access to several of the world’s largest markets with a very minimal amount of starting capital. This is one of the most appealing aspects of using FXChoice. Whilst FXChoice isn’t the largest Forex broker around, their clear commitment to offering a well-rounded trading experience should be celebrated. It’s no wonder they have attracted so many loyal traders in their years of operating.

FXChoice is not an honest broker

We are delighted to read that you want to start trading again. You will find the same superior service, with a few new tools to help you with your trading. The Swap fees on JPY pairs are back to normal and we hope you’ll continue to enjoy trading them.

I think it is worth mentioning that you can also get both MetaTrader platforms along with the excellent cTrader platform through another top broker in Pepperstone. The broker does not charge any inactivity fees on dormant accounts. This is a huge plus as some brokers will often impose high fees for maintenance of accounts that have been left inactive for a prolonged period of time. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.

The company offers both trading platforms on desktop, web and mobile. I have been trading for over 20 years and understand risk etc.. I had https://forexbroker-listing.com/ barley opened a account with FXChoice and had read thru all their literature and disclosures with opening a account and trading with them.

FXChoice is regulated by the International Finances Services Commission Belize and the broker has been in good standing with the Commission since its inception. Easy to register, fast execution, servers with great pin point results really good for trading. As an Iranian, most of the brokers have sanctioned us and do not allow Iranians to do economic activities. FXChoice is not a fraud and we do not ‘work against’ our clients. The success of our clients is always in our best interests. High level of customer satisfaction – FXChoice ranks high in customer satisfaction ratings.

Being regulated by an entity in Belize is not the same as being regulated by a Tier 1 powerhouse. We are going to call you to confirm the withdrawal of your funds via Wire Transfer at our expense. You can use your passport or driver’s license to verify your profile. A proof of address is not required to verify your profile, although we do require it for some other operations. You uploaded a bank statement, which is not an ID document.

This allows them to test out many strategies before committing to one. 👉 There is no cost to open this account, and virtual money has been pre-deposited so that you may try out different trading techniques without any actual financial risk. 👉 FXChoice asserts that customer monies are held in accounts that are separated from business accounts and so cannot be utilized for other purposes. There is an internal risk management team that ensures compliance with regulatory standards by monitoring management activities. 👉 While FXChoice is regulated globally, the broker does not yet have local regulations or licenses in Nigeria.

FXChoice review: Is it a legit or scam forex broker?

FXChoice offers a good range of deposit methods like card payments, e-wallets, and cryptocurrencies, including Bitcoin and Ripple . Note that some methods are only available in certain jurisdictions. Fortunately, FXChoice is transparent with their contract specifications and provides a downloadable product guide detailing cost breakdowns, including swap fees. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. The broker offers Islamic accounts to clients following the Muslim faith.

However, the broker implements various security features to ensure the overall security of clients’ funds. For example, FXChoice states that clients’ funds are held in segregated accounts that are separate from their company accounts and can therefore not be used for any other purpose. FXChoice is regulated by the International Financial Services Commission of Belize . The broker provides traders with an FAQ section, which is located at the top right corner of the broker’s website.