Company FXChoice

In addition, The FXChoice wire transfer withdrawal fee is 0.25%, with a minimum fee of €150 and a maximum fee of €1,000. Low barrier to entry – The minimum deposit to start trading with FXChoice is just $100. Spreads for the FXChoice Pro Account start at 0 pips but vary depending on market conditions and trading instrument. Commissions when trading with the Pro Account are $35.00 per million US dollar notional value traded. So essentially, if you open and close 1 lot of USD/JPY, you’ll pay a $7.00 commission; however, if you open and close 1 lot of GBP/USD, supposing the GBP/USD rate is 1.4, you’ll pay a $9.80 commission. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service.

The platform is fairly basic, so you are limited in how much you can do from your phone. However, we would suggest you take a look at our Trading courses, and get more professional education which will lower the chance of losing money on the market. There are not as many restrictions and requirements as required by a tier-1 jurisdiction, but it still offers decent protection.

However, FXChoice has no mention of complying with any Indian regulators on its website. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. The combination of these two factors alone should be enough to ease the mind of prospective traders in knowing that FX Choice is a trusted forex broker. The website live chat appears https://broker-review.org/ to function as more of a ticketed email response system, and response times are generally a little slower through all methods than would be expected of a high-level broker. During market hours, however, the responses gathered were still within a few hours and provided the relevant information where required. The broker also operates an active trader program called Pips+.

Moreover, an internal risk management team monitors management operations to ensure that they comply with regulatory policies. We would like to bring attention to the “Knowledge Base” section. It contains many useful articles and guides on using the service, trading, and solving various issues that might be encountered during work. The most important part for any broker is to have a regulatory authority monitoring it. It is important to note that the broker has kept a good reputation from beginning, and there were no negative claims from anyone.

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. Measured against 12 unique values, Challenge winners are amongst some of the best customer service providers in their field. The achievement reflects the professionalism, skill, care and constant endeavour to provide better customer service. This is what defines companies who rank among the top 100 in a global field of more than 10,000 businesses.

It is packed with useful trading tools and enhanced trading functionalities, such as one-click trading, multiple timeframes, various technical indicators, and more. The platform is fully customizable and comes with an intuitive user interface, making it suitable for all levels of traders. Hank001, a user from the United States, mentions that although the welcome bonus at FX Choice is not that big as with other brokers, he has had a good trading experience. He also says that the platform is easy to use, contacting the support is easy, and there are no troubles with withdrawals. TradingBrokers.com aim to provide unbiased broker reviews to give traders a clear understanding of the different brokers available to them.

No negative balance protection – FXChoice does not have negative balance protection, meaning if your account goes negative, your account balance can become negative due to rapid volatility. If this happens, FXChoice will deduct funds from any other accounts you might have and then deduct funds from any deposits you make in the future. This FXChoice review explores key areas that concern your decision to open an account with this forex broker.

FXChoice have a good range of trading products and services that caters to a broad spectrum of traders. From all corners of the globe, thousands of traders have already benefited from the brokers superior trading conditions and excellent cutomer service. FXChoice provide a MAM service to experienced traders who have their own client base and wish to trade on their behalf. A MAM account is a propriety account that enables competent traders to manage funds for an incentive fee that is dependant on the account’s performance. You can submit the application on the website if you wish to apply for the MAM account. FXChoice have a generous amount of learning resources which helps emphasise the fact that they care about their clients and support informed trading decisions.

How do I contact FXChoice customer support?

This focus alone will serve to ensure traders will always gravitate toward FX Choice. This means traders with the broker can choose between MT4 and MT5 on desktop and mobile or the web-based versions of the platform. There is no note of inactivity fees, though holders of demo accounts should log-in to their account within a 60-day period to avoid expiration.

They are always looking to further improve trading conditions by incorporating new technology to ensure you always get the best spreads and fastest execution speeds. The fee structure of this broker is transparent and traders can view all the commissions and spreads on every page dedicated to a particular asset. The platform lists the spreads in relation to USD or the preferred currency, instead of the regular pips.

These are both excellent platforms that give the average retail trader quick and easy access to trade the markets. I have been using MT4 for many years and it does more than enough to meet my needs. It is provided by most brokers compared to MT5 which has not quite fxchoice review met the same level of popularity as of yet. However, MT5 does have some additional features and functionalities whilst it is considered to be more of a stock trading platform. MT4 on the other hand should be more than sufficient if you just want to trade forex.

Trading on phones has become increasingly popular in recent years and all brokers listed on Forex Choices will allow you to trade from your phone or tablet if you wish. Alternatively, you can of course trade from a desktop PC or laptop also. 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. Although the broker lacks top-tier regulation, they have several security measures to ensure that all transactions are carried out safely, securely, and reliably. Finally, the last part of checking the broker’s trustworthiness is looking at the user reviews.

North American Markets

Hence, if a client with a 10,000-dollar position but only a 1,000-dollar tied up to the tenth value on the account, this means a small amount of money is handling a bigger financial position. FXChoice is an award-winning broker that delivers a safe and secure trading experience. The MT4/MT5 trading platforms are available, and FXChoice provides weekly live webinars for traders to gain powerful insights. All the brokers, just like FX Choice pay yearly fees to provide the platform to their clients.

FXChoice is regulated by the International Financial Services Commission of Belize . The time taken to process transactions may vary, depending on the payment method in use — bank transfers may take a few business days to clear, while some methods such as card payments can be instant. 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. He considers FXChoice to be one of the best Forex brokers due to the simplicity of the usage.

• The Forex market is the world’s largest financial market, with over $4 trillion passing through it every day.
• FXChoice provide you with some of the best trading platforms for Forex and CFD trading – MetaTrader 4 and MetaTrader 5 .
• This is an excellent feature as it helps particularly for strategy testing.
• However, that might be more than enough for most traders, considering they’re the two most popular trading platforms.
• Still, FX Choice makes it possible to use the majority of services as withdrawal methods.

FXChoice has a plethora of information to educate their traders. Moreover, their YouTube channel contains a selection of different tutorial videos that help users use their trading platform. If you want to get in touch with customer support then you have several different options available. Simply click on the chat button and a pop up window opens – you can then talk to a customer service rep as soon as you have entered your contact details.

Types of FXChoice Accounts

On the platform itself, clients have available chart analysis tools, instant, and future trade execution. Please note, that the availability of the above deposit and withdrawal methods varies from one country to another. Forex Choices provides you with the edge when it comes to trading currency online, known as Forex Trading, FX Trading or Currency Trading. Not only do we provide you with an expert pick of the world’s best trading platforms but we also give you all the information you need to get started. There are so many reasons why traders of all levels prefer the MT4 trading platform.

ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. MyFxChoice processes nearly all withdrawal requests within 24 hours Monday through Friday.

Tools

This will be an area of undoubted importance for new and experienced traders alike when deciding on FX Choice as a broker. Primarily, when evaluating the trustworthiness of any broker, there are a few key factors to be considered. Eight years of experience in the industry positions the broker well as an authoritative source. This is an account which traders of the Muslim faith can apply for once they have registered with the broker.

Deposits using cryptocurrencies incur a 0.5% processing fee, and withdrawals are subject to network or miner fees, depending on the underlying network. FXChoice offers numerous account funding methods, which is highly convenient. The drawback is the company imposes high fees on some payment methods. Before depositing, we recommend checking the fees clearly to ensure you avoid any surprises. FXChoice offers two trading account types; they are called Classic and Pro. All account types can be opened as either corporate or individual accounts and can also be traded in demo mode to sharpen your trading skills before using real money.

Regulations for FX Choice

Live webinars are common events that brokers organize from time to time. They are usually broadcast to the broker’s clients via the internet. During the live webinars, the host and other key speakers share PowerPoint presentations, videos, web pages, or other multimedia content with traders, irrespective of their locations. FXChoice’s live webinars are designed to help all levels of traders to grow their trading knowledge and become even better traders. The MT5 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile trading app that is designed for smartphone devices running on Android and iOS.

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. The Web Terminal, available for both MT4 and MT5 users, allows you to trade via a browser without the need for downloading and installing any software. You can trade directly from your FXChoice account in your preferred browser, saving time and hard drive space. You simply log in to your account and start trading via the web terminal.

Also, clients are free to choose any payment method that is convenient for them and is available at the location they trade from. The FX Choice Pro account charges commission at a minimum of $3.50 per 100,000 currency units traded. This varies depending upon the pairs which are traded and usually average out to around 0.5 – 0.8 pips per trade on major pairs. This often brings the pro account costs into line with the classic account offered by FX Choice, which operates on a commission-free basis with a marginally higher spread. The minimum deposit required from holders of either a classic or pro account is $100. This minimum deposit requirement from FX Choice is quite usual and expected from many forex brokers in the sector.

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