FXChoice Review Pros, Cons and Ratings
The FSC also establishes the legal framework for the regulation of the offshore financial services industry in Belize. It also promotes and protects the interests of its members by developing and implementing effective regulatory standards for the provision of these services. You can open a demo account as an individual or as a corporation for either a classic (retail) account or a professional account. To get started, all you need is to enter your full name and email address, choose a password and then do a telephone confirmation for verification purposes. Offered number of trading instruments is below average and is less than 150 while other brokers may offer thousands of instruments available for trading. Clients may not have the same protection like in Europe, United States or Australia in case of any disputes or insolvency.
- You can trade Indices, Metals & Energies, Crypto using the classic account.
- 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.
- Choose your payment method carefully and decide which is the best option for you.
- To change the leverage applied to your Live account, you need to log in to your MyFXChoice profile which is very quick and easy to do.
MT4 is widely known for being very user-friendly with a quick learning curve that makes it a popular choice for beginners. However, MT4 is also packed with advanced trading tools, features and capabilities, which means that it can also meet the needs of the most demanding traders. To qualify for the fourth tier, traders must have an account balance that exceeds $10,000, and trade a minimum of $10 million in volume, which equals approximately 50 standard lots. FXChoice offers various bonuses and promotions to enhance traders’ trading experience. FXChoice offers a range of research and education resources to help traders enhance their knowledge and improve their trading skills. The broker provides daily market analysis, economic calendars, and news updates to keep traders informed about market trends and events that may impact their trading decisions.
This account is completely free and comes preloaded with virtual funds so that you can practice your trading strategies risk free. It can be a great way to familiarise yourself with the brokers platforms whilst building the confidence and skills needed for successful trading. I found there to be a wide variety of Forex and CFD instruments available to trade, catering for all different types of trader. You can choose from popular currency pairs, trending cryptos, individual stocks and major stock indices.
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. The web platform’s interface is similar to the award-winning desktop version and is therefore just as easy to use. I like how it is always up to date and means I can use a friend or relatives’ computer if I do not have my own handy.
How do I contact FXChoice customer support?
I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Expert Advisors (EAs) are programs which run on the MetaTrader platform and trade automatically on behalf of the user. As an experienced Forex company, FXChoice have accumulated a mountain of data over the years on the EAs used by their clients.
Markets, Products, and Instruments
It is also compatible with Mac and Windows desktop versions along with iPhone, iPad, and Android mobile operating systems. Compare FXChoice with the top 3 similar brokers that accept traders from your fxchoice review location. It is quick and easy to sign up for an account from the broker’s homepage. FXChoice offers a 65% or even 80% bonus if you deposit in Bitcoin or any other available cryptocurrencies.
Bonuses and Promotions: Maximizing Trading Opportunities
MQL5 Signals is the copy trading service embedded within the MT4/MT5 trading platforms. The range of trading instruments offered by a broker is another crucial factor to consider. Traders want access to a wide variety of assets to diversify their portfolios and take advantage of different market opportunities. It is https://broker-review.org/ also worth noting that FXChoice provides a volume-based rebate program for active traders. This program allows traders to earn rebates on their trading activity, effectively reducing their overall trading costs. We provide broker reviews and ratings to help users find a suitable broker according to their own needs.
Even more, unfortunately, Myfxbook will not work for traders from the United States, Iran or Israel as per current regulatory restrictions. Classic demo or live accounts are available for the MetaTrader 4 software only. Pro demo or live accounts are available for use with either MetaTrader 4 or MetaTrader 5. For starters, it is nearly impossible to locate the names of the company’s founders let alone details about the growth and development of FX Choice. These are aspects that are typically rather easy to ferret out for a bona fide forex online brokerage.
The web terminal is just like the desktop terminal, but it’s web-based, so you can trade from any computer with a web browser. 🤓 Would you like to start trading forex but you don’t know what to begin with? FXChoice offers a large number of Contracts for Difference (CFD), but very limited Forex pairs.
Traders can reach the FXChoice customer support team 24/5 via email and live chat. The broker also offers callback requests, allowing traders to request a call from the support team at their convenience. While the website states that requests take approximately 24 hours to process, traders have reported longer response times in some cases.
I use the apps all of the time to check my positions from the sofa, bed or whilst travelling around. It is great to be able to take the markets with you in your pocket. I am also confident as they hold client funds in segregated accounts that are separate from their own company accounts and can therefore not be used for any other purpose. There is an internal risk management team who monitors management operations to ensure that they comply with regulatory policies. I started using FXChoice today and so far no complaints, trade executions are executed quite quickly with fair enough spreads.
In addition, the broker states that clients’ funds are held in segregated accounts that are separate from their company accounts and can therefore not be used for any other purpose. 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 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. It covers a good range of topics including General Information, Trading Accounts, Deposits & Withdrawals, MetaTrader Platform, and Trading.
These currency options are advantageous since currency conversion fees are not charged while using the account in the clients’ currency. Usually, this conversion fee is charged based on the base currency, the receiving currency, and the payment provider. The FXChoice security measures are excellent, too, as they do everything in their capacity to protect clients’ capital.