FXChoice Limited is an investment firm based in Belize and is regulated offshore by the Financial Services Commission . Multilingual client support is also available 24/5 and when contacted the agents were both responsive and helpful. A screenshot of the FXChoice MetaTrader 5 desktop platform for PC is shown below and is covered in more detail in the video review.
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. While there are no commission fees on the Classic account, a commission fee of $3.5 per side is charged on the Pro account. The news section is replete with information on the latest happenings in the financial markets. They are updated regularly, and they help keep traders aware of the events in the financial markets.
Traders may face internal withdrawal costs, depending on the payment processor. Macbook users can access global markets with our MetaTrader 4 for macOS. Open an account today and claim your 65% Deposit bonus with no fees. Expert Advisor Access all these powerful tools on your trading platform. Take advantage of our bonus on Crypto within seven days of verification and enjoy a 65% bonus on Crypto deposits. The programme consists of five tiers and is our way of saying thanks to our most active and dedicated traders because it reduces your costs.
Web & Desktop Trading Platforms
Note that some methods are only available in certain jurisdictions. The spacious dashboard also makes the interface somewhat easier to use than its predecessor. The FXChoice education series is separated into eight chapters and covers topics such as technical analysis, fundamental analysis and trading platforms.
- The IFSC emerged as a primary choice for brokers seeking a competitive, regulatory environment.
- Credit/debit cards remain absent from withdrawal methods, but FXChoice suggests requesting withdrawals the same way traders made a deposit.
- We know how hard it can be to get started in trading, so we’ve come up with promotions and bonuses designed to give you a leg up in the Forex world.
- Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
- Here is our overview of the FXChoice Minimum deposit as well as the pros and cons as well as features that are offered to traders.
Clients have access to 24/5 assistance, most conveniently via live chat, and a callback option exists, along with a web form. The FAQ section answers most of the common questions, and FXChoice states it attempts to respond within 24 hours. The MetaTrader 4 App for Android is the ideal instrument to trade 24 hours a day, wherever you are. We ensure that all transactions are processed safely, securely and reliably, first and foremost by utilising advanced encryption technology that guarantees your privacy and security.
Deposits & Withdrawals
The company offers both trading platforms on desktop, web and mobile. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. FXChoice has a minimum deposit requirement of $ 100 for both account types. This minimum deposit amount was equivalent to ZAR at an average current exchange rate between the US Dollar and the South African Rand at the time of writing.
We do not provide investment advice or solicitation of any kind to buy or sell any investment products. Trading carries a high level of risk and may not be suitable for all investors. You should consider whether you understand the risks involved. 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. Over the years, the broker has won the best customer service challenge award from the LiveHelpNow Challenge, which ranks the top 100 providers of superior customer service.
The FAQ section notes potential internal withdrawal costs, while traders must also consider third-party charges. Credit/debit cards remain absent from withdrawal methods, but FXChoice suggests requesting withdrawals the same way traders made a deposit. Overall, FXChoice maintains an excellent choice of deposit and withdrawal methods. FXChoice is best suited for traders who are looking to carry out trading with low fees and tight spreads. They provide traders with advanced trading platforms while offering access to various competitive trading conditions to clients around the world.
There are just 55 stock CFDs, while most brokers offer thousands. A wide range of funding methods – FXChoice offers numerous deposit and withdrawal methods such as Bitcoin, Bitcoin Cash, wire transfer, Skrill, Neteller, Fasapay, Perfect Money, ePayments and Qiwi. The broker ensures that all transactions are processed safely, securely and reliably, first and fx choice review foremost by utilising advanced encryption technology that guarantees your privacy and security. As a merchant, the broker has to pay for the services provided by payment processors. If you are depositing funds by one of the eWallets or credit/debit card, your payment is automatically deducted the fees and then the net amount is credited to your account.
This drops to $1.50 per side, per $100,000, with the broker’s Pips+ loyalty programme. Spreads and fees are slightly higher at FXChoice compared to similar brands such as FXTM. Available functions include one-click trading , real-time quotes, customizable charts, 9 time-frames, and basic analytical objects. An account can be opened at the click of a button on the FXChoice website and can be done in just a few steps. Withdrawals can be made via debit/credit card, bank wire, Skrill, Neteller, Perfect Money, Bitcoin, Litecoin, Ripple and more.
FXChoice offers decent spreads starting from 0.5 pips on the Classic account and very tight spreads from just 0.0 pips on the Pro account. Hence, the broker charges zero commission fees on the Classic account as they are already accounted for within a spread mark-up, while a very reasonable $3.5 per side commission is charged on the Pro account. Interestingly, high-volume traders on the Pro account are only charged a very low commission fee of $1.5.
The options include Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP and Tether. Deposits using cryptocurrencies incur a 0.5% processing fee, and withdrawals are subject to network or miner fees, depending on the underlying network. The broker also lacks regulatory status in a major jurisdiction, as it is regulated in Belize. Obtaining another license in a major financial hub would greatly boost the broker’s trust score. Processing charges may apply, though some payment methods have 0% fees. These can be found on the deposits and withdrawals page or within your back office profile.
The platform is fully customizable and comes with an intuitive user interface, making it suitable for all levels of traders. 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. Pips+ loyalty program rewards active traders – If you’re an active trader, you might be interested in the FXChoice Pips+ loyalty program. The program offers either rebates or tiered commission discounts based on trading volume turnover over 30 days or account equity. MetaTrader 4 platform and the increasingly popular MetaTrader 5 application.
However, the number of years for which FXChoice have engaged in the sector provides ample indication that they are a respected and quality broker. They focus on platforms in MT4 and MT5 which are well-known, and mostly used in the industry. Additional elements such as their active trader program,social tradingintegration, and provision ofVPSto traders, serve only to strengthen their position and the fact the company knows and understands its users. FX Choice does not levy additional fees, but third-party charges may be applicable. Processing times for deposits are promised to be fast – within 24 hours. USD, ZAR, EUR, AUD, CAD, Bitcoin, and other cryptos are accepted as Deposit currencies.
In other words, the more volume you trade, the higher your chances of paying lower commission fees. Clients with a balance of at least $3,000 and trade a minimum of 5 lots per month can access a Virtual Private Server free of charge. A VPS offers a low-latency trading environment, https://forexbroker-listing.com/ superior execution and 24/7 uptime which is ideal for automated strategies. Further, clients can access the MetaTrader marketplace to access thousands of additional trading tools and strategies. MetaTrader 4 App is the perfect solution for mobile trading on iOS devices.
In addition, FXChoice has partnered up with ZuluTrade to offer copy-trading solutions. A VPS is also available for investors who want to run their own software. Previous welcome bonuses and deals have also included a free VPS promo code, so it is worth checking the website for future promotions. Some options also involve a fee; details of which can be found in the cashier portal upon login.
Withdrawals via wire incur a 0.25% fee, 1% via Skrill, 0.5% via Perfect Money, and there are no fees via Neteller. As an exclusively offshore regulated broker, FXChoice is one of the few brokers offering high leverage, PAMM accounts, bonuses and cryptocurrency instruments. A considerable advantage of FXChoice is the company provides numerous account funding methods, which let you deposit and withdraw using trusted payment processors. Based in Belize, FXChoice is a retail trading broker that opened its doors in 2010. The broker has since grown to become one of the leading ECN trading brokers, ensuring speedy trade executions at some of the best prices on the market without the intervention of a dealing desk.
What is the minimum deposit required to open an account with FX Choice?
There are also several great bonuses and promotions available including the Pips+ Loyalty programme, Referral programmes and deposit bonuses for both beginner and advanced traders to take part in. The Classic is a one size fits all account without any commissions to worry about. The Pro account, in contrast, boasts tighter spreads yet does charge commissions. FXChoice also allows you to open Islamic accounts and multiple demo accounts.
Is FXChoice regulated?
Over the last decade, the company has evolved as a leading ECN broker, providing forex and CFD trading to both private and institutional clients. The brokerage follows a Non-Dealing Desk , market execution model with a daily trading volume of more than 150,000. Clients who fund their newly opened account within 7 days can also benefit from a 25% bonus on top of their original deposit up to a maximum bonus of 5,000 USD. Clients who deposit using Bitcoin can also benefit from a 15% bonus with no deposit or conversion fees. Both bonuses are withdrawal but only after the minimum trading volume has been met. Trading costs with FXChoice vary, depending on account type and the market traded.
For some traders, that might seem like little choice of trading platforms. However, that might be more than enough for most traders, considering they’re the two most popular trading platforms. FXChoice offers bonuses – Forex brokers offering bonuses is a rarity these days. The bonus provided us up to 15% on your first deposit to a maximum amount of $5,000. Although FXChoice doesn’t offer extensive forex trading courses as many other brokers do, the company provides weekly live webinars on Mondays. If you register with FXChoice, you can expect market news coverage, an economic calendar and plenty of instructional articles by trading gurus that will help you develop your strategy.