The service is also an option for those clients who are too buys and don’t have the time to trade, but still want to dip into the markets. FXChoice’s MT4 Optimum account is a low-cost, entry-level forex trading option with a minimum deposit of $10. It offers typical EUR/USD spreads at 1.5 pips and no additional fees. This service allows you to copy signals of traders who have their accounts published on the popular social trading website Myfxbook. You can browse through the different accounts, review performances and choose to mirror the trades of any account without any additional software required.
Today was my first time using this…recommended choice
The Forex Trading Guide is a thorough course with eight chapters. These chapters cover various subjects, from the fundamentals of forex trading to advanced trading techniques and tactics. A margin call occurs when account equity falls below 25% of the margin necessary to retain open positions, advising the trader to take action.
FXChoice Pros and Cons
The broker uses advanced encryption technology to help guarantee your privacy and security when transactions are being processed. All communication data is encrypted using SSL technology (Secure Socket Layer). As you work your way up the tiers, the trading commissions decrease. To upgrade through the tiers, clients can increase trading volume or deposit more equity. I think it is fantastic that the broker rewards you for your loyalty with cheaper trading costs. If you are using another broker and trading lots of volume, you can always reach out to them and ask for lower fees.
What funding options does FXChoice offer?
Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with FxChoice. FX Choice customer service options extend to phone, live chat via the broker’s website, and email. These standard options are available on a 24/5 basis, as with many competing brokers. For phone support, the company operates a callback service from their Belizean headquarters. Whilst there is little difference in the offering of these trading platforms throughout brokers, they still perform at their functional best. This includes the provision of dozens of technical indicators and charting capabilities beyond many competitors in the industry.
- The MQL5 signal service allows users to delegate trades to more experienced traders.
- FXChoice is a retail forex and CFD broker that is authorized and regulated in Belize.
- Following on from that you will need to submit some form of identification such as a passport scan and proof of residential address such as a utility bill.
- FXChoice is a Belize-based forex broker that has been in operation since 2010.
- In fact, phone support is the most recommended option since you get to talk directly to someone.
- FXChoice, a Belize-based broker, has been a global player since 2010.
FXChoice is one of the best broker in…
We will look at what exactly the platform is, how it works, the trading platforms, and whether indeed it’s a decent choice for CFD trading. Good competitive spreads, wide range to trade from, forex, crypto, indices and metals. You tried to scam money from our company; we took the appropriate action and stand by our decision. In the case of both platforms, the visual appearance is rudimentary in nature, but functionality and efficiency of order execution are unparalleled.
NO DEPOSIT TO WITHDRAWAL TRANSPARENCY
Our team also found that FXChoice offers demo versions of both account types, which allow you to practice your trading free of charge. This is a major benefit of choosing FXChoice, as most brokers don’t offer demo versions of their commission-based accounts. There are many useful third-party trading tools provided by the broker, such as the MQL5 Signals, Myfxbook AutoTrade Service, FXChoice VPS, and Live Economic Calendar. The broker provides their clients with the MetaQuotes MetaTrader 4 and MetaTrader 5 platforms, which are two of the most widely used trading platforms in the world. In our experience, FXChoice is a leading online trading platform for forex and CFD trading, offering a secure environment for traders of all skill levels.
Like many other online brokers, the client transactions and trading costs are based on the spread. You see, every financial instrument has an asking price and a bidding price. Secondly, there are the Pro accounts that would be suited for large institutional investors. The minimum deposit here is $100 but you get access to a huge range of trading instruments. Besides, you also get to choose between meta trader 4 and meta trader 5.
The platform however faces competition from several key players in the market, including some that have market-maker services. We thought it would be great to see how the brokerage compares with these competitors here below. Now, before we get to the overall benefits of FXChoice and what it has to offer, it’s important to put a disclaimer out there.
Islamic swap-free, MAM, and corporate options are also available at request. The main difference between the two accounts, aside from the availability of MT5, is the $3.5 commission and tighter spreads in the Pro account. Fortunately, FXChoice is transparent with its contract specifications and provides detailed cost breakdowns, including swap fees.
Compare the markets and instruments offered by FXChoice and its competitors. Please note, some markets may only be available via CFDs or other derivatives. Compare https://traderoom.info/fx-choice-forex-broker-review/ FXChoice with the top 3 similar brokers that accept traders from your location. We found that the live chat service was particularly fast and helpful when tested.
The broker offers 24/5 customer support via live chat, email, and phone. The support team is known for its responsiveness and professionalism, ensuring that traders’ queries and concerns are addressed in a timely manner. The Classic account is suitable for beginners or traders looking for a straightforward trading experience. It has no minimum deposit requirement and offers fixed spreads. You can also open a pro account as part of the FXChoice account offer. This is a corporate-level account that you can use to trade stocks.
Although not regulated in one of the major world hubs when we consider trusted financial institutions. Belize, and the IFSC there, still represent a stringent financial https://traderoom.info/ regulator who exercises a degree of control and comprehensive oversight procedures. Opening a real account with FX Choice can be completed with similar ease.
FXChoice maintains reasonable costs to promote cost-effective money management for traders. Client funds are kept in separate accounts, SSL encryption is used for data transfer, and two-factor authentication is provided for additional security. FXChoice also participates in the Investor Compensation Fund, offering coverage up to $20,000 per individual in case of financial difficulties. The broker provides traders with an FAQ section, which is located at the top right corner of the broker’s website. The FAQ section contains a well-detailed list of traders’ most common questions and their corresponding answers.