In this article will present you with a review of a broker that is FXChoice broker. It is a broker that has been in business since 2011. The fact that the broker is regulated by CySEC is a very positive thing. That is why it has become very popular lately. This FX Choice broker review will present you with all the information you need to know about this broker.
FXChoice is a forex broker that offers forex trading on the MetaTrader4 and the cTrader trading platforms. The broker is regulated in the UK by the Financial Conduct Authority (FCA). To learn more about FXChoice, please read our full FX Choice review.
Below is the summary of the review of the FX Choice trading platform.
|Assets Available||5 Asset Classes – Forex, Crypto, Indices, Commodities, and Shares.|
|Regulated by||FX Choice Limited is authorized and regulated by the IFSC ( International Financial Services Commission )|
|No. of Trading Platforms||4 Different trading platforms – Mobile, Web, and Desktop based on MT4 and MT5|
|Leverage||Max leverage 1:200|
|Spreads||Has variable spreads on currency pairs which can go low as 0.03|
|Demo Account||Yes, with min deposit of your choice. Expires after 90 days of inactivity.|
|Education Provided||Provides basic trading education|
|Methods of Payment||Multiple Payment methods (incl. Bitcoin, Skrill, Visa, wire transfer, etc)|
What is the FX Choice Trading Platform
FXChoice is a trading platform with a main focus on forex trading. They have thousands of clients who trade with them. They provide you with competitive and transparent trading conditions. They have a 24 hours live support 5 days a week. They also claim to provide you with a reliable trading environment. They provide you with an extra feature that helps you to reduce your trading costs. This program is called the Pips+ loyalty program which we will talk about further down the article. Now let’s see what financial instruments are available for you to trade with the FXChoice trading platform.
Financial Instruments Available For Trading
In regards to forex, they have all the major currency pairs (EURUSD, GBPUSD, etc…) that you can trade with. They also provide you with a range of cross-currency pairs. They also provide you with tight spreads which is great. With a classic account, the spread for the popular EURUSD pair is around 0.1300 USD. With a pro account, it is 0.04 USD which is really good. The spread ranges based on the currency pair you are trading.
FxChoice only provides 3 different types of popular cryptocurrencies, these are Bitcoin, Litecoin, and Ethereum. At the time of writing this article, the spreads provided by FxChoice for Bitcoin, Litecoin, and Ethereum are 42.0, 5.70, and 0.41 respectively. FxChoice might not be the best platform for trading/investing in cryptocurrency because of the lack of choices.
Fx choice allows you to trade shares with a minimum deposit of $100 USD. This means you can take the trading skills that you learned from this site to the real market with very little money to start making profitable trades. The spreads are variable depending on the type of share that you want to trade.
FxChoice has its own academy called FXEducation. This teaches you all the basic foundations that are required for any beginner forex trader. Their course is great but It won’t be enough for you to become a profitable trader consistently. There is so much more you need to learn about in addition to the FXChoice course about profitable forex trading strategies. That said, if you are a beginner FXEducation academy is a great course to go through.
FXChoice provides you with 1:200 of maximum leverage when trading currencies. Trading with this much of leverage is very risky. You can also go low as 1:25 which is much more safer to trade with. This means that they provide you with a good range of leverage that you can trade with. They also provide you with very tight spreads as well which is great.
Choosing a broker who is regulated is a very important thing to consider when choosing your broker. If the broker is not regulated you cannot trust the broker. Regulated brokers can be trusted more. FXChoice is regulated and authorized by the International Financial Services Commission (IFSC). IFSC is not the greatest regulator but they try to help weed out scams in the financial industry. IFSC is not one of the best regulators in the industry but it’s better to have a regulator than not. Some new brokers are not regulated, so they cannot be trusted.
FxChoice broker provides you with a web, PC, and mobile trading platform based on MT4 and MT5. This is great. MT5 is one of our favorite platforms to trade in. It contains all the tools necessary to analyze the market properly with additional features to MT4.
The fxChoice trading platform is supported by all operating systems except Linux (there are still ways to run on Linux-based operating systems). You can run it on Android, IOS, Windows, and Mac which is absolutely great.
An additional feature that they provide is trading signals on MQL5. They provide you with the ability to copy trades from the top traders on the platform. We don’t personally recommend trading based on any forex signals, mainly because you cannot copy the trading psychology of those traders, you have to develop it through experience and different strategies.
FxChoice also provides Expert Advisors. These are developed by other companies or independent developers and are sold on the FxChoice Platform. A good expert advisor can be very helpful for your trading but it is not very easy to find a good expert advisor. Also if a particular expert advisor is used by too many people it can distort the expert advisor’s trading strategy.
FxChoice has also teamed up with the ZuluTrade copy trading platform to provide you with other copy trading features. We will talk more about the ZuluTrade Copytrading platform in another article.
FXChoice Customer support
FXChoice is a well-established broker with a great reputation and is regulated by numerous authorities including the FCA, CySEC, and FSB. It has a history of being recommended by well-known reviewers and has been featured in the likes of Forbes, Business Insider, Huffington Post, and several other reputable publications. As with any broker, you need to be sure that you have access to a reliable customer service team to help you if you get stuck, and FXChoice is no exception.
The customer service was good, the software was well-designed and intuitive, and the trading platform was simple enough to use.
FX Choice benefits
FXChoice operates as a broker that gives the customer a choice in the type of trading account they want to open. There are four account types to choose from Standard, Trader, Pro, and VIP. The Standard account has a minimum deposit of $100, but only $1,000 with its initial margin requirement.
This option is for those who want to trade with a small amount of capital and make only a few trades a month. The Trader account has a $1,000 minimum deposit and a $10,000 initial margin requirement. This account is good for active traders who want to make more than 25 trades a month. The Pro account has a $5,000 minimum deposit and a $25,000 initial margin requirement.
This account is ideal for professional traders who need to make more than 100 trades a month. The VIP account is the most expensive because of the high minimum deposit of $500,000. This account is for brokers and institutional investors who have at least $5 million in the capital.
If you are using the pc trading platform FxChoice provides you with MT4 or MT5-based trading software that you can easily install on your computer.
The Fxchoice mobile trading platform is also based on MetaTrader 4/5 trading platform. We recommend you use the mt5 platform compared to the mt4 platform because mt5 comes with a more improved set of features.
To get their pc trading software or mobile trading software click the button down below. By joining with the button below you get a 15% deposit bonus.
FXChoice is a reliable broker that offers a wide range of trading tools and instruments. It is an online broker that has been present in the market for quite some time now. The company offers a great selection of services and instruments for traders to use. It is regulated by a number of authorities that include CySEC, FCA, and FSA.
FXChoice is one of the best brokers on the market. The company is regulated by Financial Conduct Authority (FCA) and makes a positive impression with its high-quality services. They offer a wide range of different types of trading accounts and provide traders with a variety of flexible funding options. You can fund your account via credit & debit cards, bank wires, e-wallets, prepaid cards, phone cards, and more.