FXChoice Review Is it a Scam or Legit Forex Broker ️
Yes, as mentioned above, FX Choice is regulated…at least technically. Being regulated by an entity in Belize is not the same as being regulated by a Tier 1 powerhouse. This does not mean that FX Choice is not a bona fide online brokerage. Should you give FX Choice a chance to earn your business?
The communication and transactions are fully encrypted by using a Secure Socket Layer technology whereas the client passwords are fully encoded. The same level of security measures is applied to the MetaTrader platforms and the traders can also apply the 2-factor authentication that also includes the Google Authenticator. Traders are also charged with withdrawal fees if money is withdrawn via credit or debit cards or e-wallets. Withdrawals made through bank or wire transfer may also apply withdrawal fees depending on the banking company.
This means, with initially small capital you have the potential to gain quite good exposure to the markets. However, South African clients can get exposure to the broker’s offering by registering via its international entity. On the downside, the broker mainly focuses on FX and CFD trading and customer support is available only 24/5.
- Their spreads are consistently among the lowest in the industry, which means you can save a lot of money on transaction costs over time.
- Mobile trading is made easy with the MT4 and MT5 mobile apps, compatible with both iPhone and Android smart devices.
- Thank you very much for giving me the opportunity to earn without going to work haha, among all its advantages, I like the copy trading function the most.
- As per the FXChoice review, it has more than 50 trading instruments, all in 6 asset classes, including cryptocurrencies CFDs, forex, commodity CFDs, and index CFDs.
Customer Service – this broker has won many awards for its customer care. They truly place their client’s needs at the center of everything they do. Please note that FxChoice withdrawal options will vary depending on what country you live in. I was in southeast asia last year and when I submitted a withdrawal request after a few additional security steps my money was processed quickly.
In fact, the website simply says it will take “some time” to verify your data. Classic accounts only work fx choice review with the MetaTrader 4 software. It is a relatively simple process to open a classic live account.
There are just 55 stock CFDs, while most brokers offer thousands. With a history between 2 and 5 years, FX Choice is an online forex broker regulated by FSC and is dedicated to providing a series of common forex instruments. The option to trade a wide range of financial instruments including Forex, metals, indices, cryptocurrencies, and shares. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service. Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website.
Excellent Mobile Trading Compatibility
Crypto deposits are currently very attractive at FXChoice, with up to 65% bonuses paid to new clients depositing crypto, or up to 50% for those depositing traditional fiat currencies. These bonuses are only available for the first 7 days of joining the company, so get in there quickly if you plan on depositing. FXChoice clients can trade over 100 instruments spread across five markets, including many crypto pairs.
FX Blue provides all the required technology so that traders can run their own trading competitions for free, or take part in broker competitions being run in conjunction with FX Blue. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades. Risk Warning – Trading CFDS, FX and Cryptocurrencies involves a high degree of risk. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the risk of losing your money.
Clients are requested to seek financial advice from experts before making trading decisions on digital platforms. 1) We believe our Spreads are very competitive, and we can assure you that we don’t increase them ‘just to activate the trade’. They come directly from our LPs, and we pass those directly on to our clients. I actively used used FxChoice for a month and decided I’ll never use that broker again in my life. I am an experienced trader with 10+ years of experience and used a lot of brokers. We also point out that we waive deposit fees, so you were not charged at all to deposit funds.
Indeed, we had a server issue leading to you not being able to log in. We apologised and offered compensation for any missed trades, but we did not hear back from you. Thank you so much for your positive review of our customer service and regulation. We’re glad to see these giving our clients peace of mind. 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. Limited to only a few trading platforms, which may not suit traders who prefer other platforms.
Should you encounter an issue when using the broker, or simply have a question, you can find help almost instantly. Most trading costs at FXChoice are included in the spread or the commissions mentioned previously. That being said you also need to look into rollover fees, which change depending https://forex-review.net/ on the market that you are trading. That information is freely available on the website, and for the most part, looks to be a rather standard – neither overly expensive nor cheap in comparison to competitors. Commodity CFDs are available as well, including gold, silver, and crude oil.
FXChoice is not an honest broker
A considerable advantage of FXChoice is the company provides numerous account funding methods, which let you deposit and withdraw using trusted payment processors. FXChoice offers clients the two most popular trading platforms, MetaTrader 4 and MetaTrader 5. The company positions itself as a straight-through processing broker and emphasizes the use of non-dealing desk technology. FXChoice offers clients the ability to deposit and withdraw funds using a variety of methods including debit/credit card, bank wire, Skrill, Neteller, Perfect Money and more.
Easy to register, fast execution, servers with great pin point results really good for trading. As an Iranian, most of the brokers have sanctioned us and do not allow Iranians to do economic activities. FXChoice is not a fraud and we do not ‘work against’ our clients. The success of our clients is always in our best interests. We are going to call you to confirm the withdrawal of your funds via Wire Transfer at our expense.
The company also offers prompt and professional multilingual support via live chat 24-hours per day, five days a week. FXChoice also offers support via email and provides a callback service. 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. A variety of deposit and withdrawal methods, including popular e-wallets and cryptocurrencies, with a 15% deposit bonus available.
We do not present any investment advice or guarantees for the accuracy and reliability of the information. The Web Terminal, available for both MT4 and MT5 users, allows users trade from their favorite browser without the need to download additional software. 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. Yes – FXChoice Limited is regulated by the Financial Services Commission .
With the Classic Account, you’ll earn rebates, and with the Pro Account, you’ll get discounted commissions. To reach the first tier of the Pips+ program, you need to either trade a $10 million notional volume or have account equity of $10,000. FXChoice offers two trading account types; they are called Classic and Pro. The main difference between the two account types is the fees. A client has complained that this broker attracts investors by promising bonuses after opening account but later takes away the bonus after client opens account.
Great fx broker
Deposits are fee-free using AirTM, Epay, VLoad, Bitcoin, and Wire Transfer. There is a deposit fee when using credit/debit card, Skrill, Neteller, and Perfect Money. Withdrawals via wire incur a 0.25% fee, 1% via Skrill, 0.5% via Perfect Money, and there are no fees via Neteller. The FXChoice minimum deposit is $100 or it is equivalent in any other currency. The supported currencies on the platform are USD, EUR, AUD, CAD, GBP, Bitcoin, Bitcoin Cash , Ethereum , Litecoin, and XRP. The initial minimum funding is quite reasonable compared to other forex brokers that require at least $500 to maintain a trading account.
The FXChoice security measures are excellent, too, as they do everything in their capacity to protect clients’ capital. 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. FXChoice was developed in 2010 in Belize, Central America, and has been successfully operating for more than a decade, constantly upgrading the trading features on its platform.
Great overall experience since I’ve started back trading.Love their Fast deposits with crypto and competitive swap fees. We are very sorry to read your review, but we thank you for praising our low Swaps, swift deposits/withdrawals and customer service. I am trading with 3 more brokers but at normal time their spread in around pips more than other two brokers I am using at the same time.
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