Regulated by: IFSC
FXChoice Review & Author's Comment
FXChoice is one of the few off-shore forex brokers out there that accepts clients from the US. The other one in my list is AAFX Trading. FXChoice is founded in 2010, located in Belize and regulated by Belize IFSC. Leverage is 200:1 and spreads are tight. They offer negative balance protection and allow automated trading systems. A wide range of deposit and withrawals methods and customer support in several languages are the other pros for FxChoice.
Is FxChoice Reliable?
Having outstanding expertise as a broker in CFD as well as Forex trading for fund managers, private clients and institutional investors, FX Choice has been around almost for 10 years trying to provide the best service and support to their clients. Their extraordinary service earned FXChoice the prestigious Exceptional Customer Service award by LiveHelpNow 5 times in the year 2016 alone.
One of the things that make FXChoice really special is the fact that they allow traders to trade on more than 40 currency pairs and a plethora of other CFDs. And they offer their clients with amazing trading experience with the help of two exceptional platforms. As a matter of fact, FXChoice executes more than 15000 transactions in a day with the help of their NDD technology.
With its headquarters in Belize, FX Choice operates under the jurisdiction of International Financial Services Commission (IFSC). Though IFSC imposes flexible controls with more focus on the regulations, licensing process and code of conduct, FXchoice ensure maximum security for the funds of their clients. Plus, FXChoice practices the positive price correction to make sure that the clients do not worry about their account balance to go negative.
FxChoice Account Types
There are two types of accounts that are available for the clients of FXChoice. While one of them is a named classic, the other one has been named pro. These two account types have a basic difference amongst them. The accounts belonging to the classic type are completely commission free; thus they come with wider spreads. On the other hand, the pro account type is commission based so they provide the clients with tighter spread as per the norms of ECN. Plus, you can avail either MetaTrader 4 or MetaTrader 5 trading platform as per your choice only if you are using the Pro account. Apart from that, you will have the choice for opening a corporate or individual account as per your wish.
FxChoice Trading Conditions
Unlike most of the other brokers, FXChoice does not demand different initial deposit for different accounts types. What FxChoice asks for is only $100 as the initial deposit for all account types.
The spreads offered by FXChoice varies with respect to the account type. However, the trading cost is almost similar with an average of 1.2 pips on EUR/USD pair. Thus, it is better to say that FXchoice offers competitive pricing.
The maximum level of leverage that clients can get is 200:1 which is not bad compared to industry standards.
FxChoice Trading Platforms
FxChoice provides their clients with a myriad of choices on the trading platforms. MetaTrader 4, MetaTrader 5, as well as Myfxbook Autotrade these are the trading platforms that a client can choose between. When it comes to the MT4 and MT5 platforms, they do not only offer access to the CFD and forex market but they also help the clients to invest in the options and futures market. Moreover, the MT5 platform allows the client to trade in the stock market too.
Both MT4 and MT5 make use of MQL programming and offers auto trading with the help of Expert Advisors (EAs). While the MT4 is available in both of desktop and mobile, it also has a web version called terminal MetaTrader 4. As for MT5, it is available in both pc and mobile for FX Choice clients.
Apart from the above-mentioned platforms, FXChoice offers the auto trading platform known as the Myfxbook. The Myfxbook is an online Forex trading community which also comes with analytical tools. The platform allows traders to copy the orders of the traders by your choice directly to your MT4 account without any charges or software installment.
Furthermore, FXChoice offers free VPS to its clients who conduct trade with over $3000 balance or 5.0 lots on a monthly basis.
FxChoice Withdrawal and Deposit Methods
FXChoice offers their clients to deposit and withdraw funds using different methods. From the debit card, credit cards, e-wallets, Fasapay, Bitcoin, Skrill, Neteller to Perfect Money, ePayments, Trustly, Astropay and PaySafeCard.
In addition, clients will have the option to open trading accounts in different currencies such as USD, EUR, GBP, AUD, CAD and Bitcoin.
FxChoice Review Final Word
Though tight regulation is absent, FcChoice proves to be exceptional when it comes to providing extraordinary trading and customer services. With almost a decade of experience, this NDD broker always strives hard to offer the best trading conditions and exceptional customer support to the clients.
Accepts clients from the US. Off-shore company with strict rules for funds security. Competitive spreads. Myfxbook autotrade feature.
|Adress:||Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize|
|Phone:||+ 501 227 27 32|
|Regulator:||IFSC (License number: IFSC/60/191/TS/17)|
|MAM / PAMM Account:|
|Funding Methods:||Wire Transfer, Debit Card, Skrill, Neteller, Bitcoin, Fasapay, Perfect Money, PaySafeCard, epayments, Trustly, QIWI, AstroPay|
|Withdrawal Methods:||Wire Transfer, Debit Card, Skrill, Neteller, Bitcoin, Fasapay, Perfect Money, PaySafeCard, epayments, Trustly, QIWI, AstroPay|
|24 Hours Support:|
|Languages:||Czech, English, Farsi, German, Greek, Portuguese, Spanish, Thai|
|Spreads:||As low as 0.0 for EURUSD at Pro Account|
|Negative Balance Protection:|
|Accepts Clients from the US:|
|Supported Platforms:||MetaTrader 4, MetaTrader 5|