Rainland Resort Athirappilly

FXChoice Review year : Pros, Cons and How It Compares

I really like this feature and think it helps them to differentiate from many other brokers. FXChoice have a good variety of third-party tools that can be used if you are looking for flexibility and assistance with your trading activities. The MT4/MT5 platforms should have enough tools for most traders, not to mention you can get https://broker-review.org/ thousands of free and paid add-ons for them. If you do want industry leading market analysis software, then you might want to take a look at Forex.com who have the brilliant Autochartist and Trading Central tools. FXChoice is a great choice for traders looking for a MetaTrader-focused broker that offers both the MT4 and MT5.

  1. The trader’s strategy gains liquidity and flexibility as a result of this massive volume.
  2. Ideal but not limited to traders who like not to have to do hard math calculations for their trading logistics.
  3. FXChoice allows traders to buy and sell various financial instruments across different asset classes, including CFDs on forex, cryptocurrencies, indices, commodities (metals and energies) and shares.
  4. This is a major benefit of choosing FXChoice, as most brokers don’t offer demo versions of their commission-based accounts.

FXChoice is regulated by the International Financial Services Commission (IFSC) of Belize. While Belize may not be considered a Tier 1 regulatory authority, the IFSC has established itself as a reputable regulatory body in the forex industry. FXChoice’s adherence to IFSC regulations ensures that the broker operates within the defined guidelines and provides a certain level of protection to its clients. 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. I would say that if you are looking to trade forex only, then MT4 will do the job.

This includes the popular EURUSD, GBPUSD, USDCHF & USDJPY currency crosses. The Pips+ programme is a way for active traders to reduce their trading costs. The programme consists of five tiers and all MT4 & MT5 Pro account holders are automatically enrolled.

Nice stable broker

MQL5 Signals, embedded within the MT4/MT5 trading platforms, and Myfxbook Autotrade represent two industry leaders in the social trading scene. It remains free of charge for clients with portfolios above $3,000. For traders failing to meet that threshold, a monthly cost of €40 applies.

Trading platforms Review of FXChoice Broker

FXChoice offers a multi-account management account or MAM for experienced and advanced traders who already have their client-based and want to carry out trading on their behalf. The MAM account is essentially a proprietary account that allows competent investors to handle their funds for an incentive fee that is based on the performance of the account. Traders can also submit their applications on the official FXChoice website if they want to apply for a MAM account. FXChoice offers both Forex and CFD trading opportunities to traders all around the world.

FXChoice Regulation Summary

The deposits are held safely by the platform in segregated accounts, and they are kept entirely separate from the corporate ones. So, there is no way that the platform can trade with clients’ funds or use them for the company’s expenses. Users can access almost identical fxchoice review trading conditions in a no-risk environment, with a customizable amount of virtual funds to practice with. 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.

Which trading platforms are supported by FXChoice?

On the other hand, the Pro account is a commission-based account that offers spreads starting from 0 pips. Traders using the Pro account pay a commission of $3.50 per 100,000 traded per side. The Pro account is designed for more active and experienced traders who prioritize tight spreads and are willing to pay a commission for better trading conditions. FXChoice offers a range of trading instruments across various asset classes.

Sadly, they don’t accept US customers anymore but I’m fortunate enough to be able to trade with them and keep my account with the best offshore brokerage there is. Bonuses are also only offered for certain account types and traders should contact the broker to find out if their account qualifies. There’s no need to be glued to your computer when you’re trading forex with an FXChoice broker. With the FXChoice MT4 and MT5 mobile trading feature, you can carry out transactions while on the go.

Demo accounts are available free of charge if you wish to practice trading online until you build enough confidence to switch over to a real live account. The broker’s commitment to providing a safe and secure trading environment, coupled with its excellent customer service, sets it apart from other forex brokers. The company also offers a variety of account types, including classic, pro accounts and Islamic accounts.

Fairly new trader to forex so it’s a joy to get quick answers to questions. They were highly recommended by a very experienced trader using them for many years, and I have been very pleased they have the patience for newbies. They allow multiple demo and live accounts so good for trying different approaches. Their newly created Optimum Accounts look very good and I am close to funding one. With the Pro Account, account spread, and commission are charged separately.

FXChoice vs Other Brokers

The customer support team is on-hand should you experience any withdrawal problems or have questions about server locations, epayments, and copy trading. The forex broker also offers the Pips+ Loyalty program, in which all clients are automatically enrolled when they sign up for a Classic or Pro account. The program consists of five tiers and awards higher rebates and lower commissions for active trading. Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email. FXChoice won the best customer service challenge award from the LiveHelpNow Challenge which ranks the top 100 providers of superior customer service. These rankings are data-driven, based on metrics provided daily to client dashboards.

New users can visit the company page to get more details about how the periodic bonuses apply. Traders who have traded on the MT4 trading platform can still enjoy the same features on MT5 with a slightly enhanced overall trading experience. MetaTrader 4 was created by a Russian company known as MetaQuotes and it has won several awards. The MT4 FXChoice version combines the standard features with real-time price feeds gathered from the global markets, competitive conditions, interbank liquidity, and fast execution speeds. As per the FXChoice review, Islamic accounts charge a commission fee as it lacks swap charges. In case of negative swaps, the commission fee charged is 75% of the relevant swaps.

FXChoice offers its clients customer support through various means 24/5. The customer service methods include telephone, email, and live chat. The company also has a number of account managers who are available to help clients with any questions or concerns they may have. In addition, FXChoice has a help center page where you can look out your desired info. FXChoice Expert Advisors are computer programs that help traders make informed decisions about when and how to trade.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top