FXChoice Review 2024 Trade forex with low spreads and fees

MQL5 Signals, embedded within the MT4/MT5 trading platforms, and Myfxbook Autotrade represent two industry leaders in the social trading scene. It remains free of charge for clients with portfolios above $3,000. For traders failing to meet that threshold, a monthly cost of €40 applies. Our review of FXChoice confirms that the forex broker offers award-winning customer support options. You can contact FXChoice 24/5, which is when the markets are open, and through multiple channels. We found the live chat option to be the quickest, putting you in touch with a competent agent in seconds.

Opening a real account with FX Choice can be completed with similar ease. This process includes the addition of ID and address verification, which can be completed through electronic uploading of the front, and back of your ID document such as passport or driver’s license. This must display the same address as is registered on your account to become verified.

BlackBull Markets Regulatory Overview

FXChoice has put in place procedures to ensure that files are regularly purged and that personal information is not retained any longer than is necessary. You should note that we will not delete or anonymise your personal data if it is necessary for pending court, administrative proceedings or proceedings related to your complaint to us. FXChoice uses this information to apply internal risk assessment rules consistently. This ensures that your application is treated fairly, efficiently and that we believe you are eligible for the services we offer. We collect this information to analyse, assess and improve our services to customers, and also for training and quality control purposes.

Since FXChoice remains a regulated broker, account verification is mandatory to comply with AML/KYC stipulations. Those with Classic accounts can participate in the Pips+ Loyalty program where higher trading volumes result in spread refunds. There are four tiers to the program, each with its own trade or equity requirements and rebates per $1M.

Your capital is at risk

I have also had issues when it come to me withdrawing my money and refilling my account. Same as many other users here, I have https://traderoom.info/fx-choice-forex-broker-review/ been forced to withdraw all my $ as they would no longer take crypto payment. It was a long process, where I needed to sent 3 different pictures. They also cancelled my withdrawal through TRC for no reason, at this point I thought I would never see my $ again…

1. This allows you to access them without having an account and makes it easier to watch on a mobile device.
2. I have been using MT4 for many years and it does more than enough to meet my needs.
3. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.
4. So a regulation is for the broker but you have to take care of the common safety measures.
5. This is of great advantage since it gives clients the power to manage and organize trades anytime and anywhere.
6. The important difference between the two is that the Classic account is commission-free and therefore offers higher spreads.

The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. 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). Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email. FXChoice won the best customer service challenge award from the LiveHelpNow Challenge which ranks the top 100 providers of superior customer service. These rankings are data-driven, based on metrics provided daily to client dashboards.

Whilst this is not considered to be a top-tier authority, the broker is also committed to risk management and has a strong history within the industry. This, paired with positive client reviews, means that you can still trust the broker to operative responsibly. Keep in mind that MetaTrader platforms are developed by third part company called Meta Quotes. All the brokers, just like FX Choice pay yearly fees to provide the platform to their clients. This may include, for example, staff members working in our Marketing and Sales Department, Finance Department, Customer Support Department, Management Board or customer services representatives. The website live chat appears to function as more of a ticketed email response system, and response times are generally a little slower through all methods than would be expected of a high-level broker.

What you will need to open an account with FX Choice

We can say that FX Choice is not the best, nor is it a disappointment. With unique tools and solutions, FX Choice is safe to consider a decent platform. However, many features are subject to question, and the internet is flooded with negative reviews. Hundreds of confessions can’t be wrong, but it is up to clients whether to trade with FX choice or not.

The platform showed remarkable execution speeds throughout testing; average order execution durations recorded were less than 75 milliseconds. MT4 also supports several other integrations, including VPS hosting and social trading programs, hence improving its usefulness for algorithmic traders. Pleasant charting tools, technical indicators, and automated trading capabilities—all of which define the desktop versions—are kept by the web platform, that we find on a good level.

This is something that even some top-tier regulated brokers do not provide so it helps them stand out from the competition. Not only is that the broker regulated, but they even have various systems in situ to guard your funds. These include segregated client accounts and an indoor risk management program.

FXChoice offers a weekly live webinar, which is held each Monday and offers valuable insight. On its website, FXChoice notes its registration number with the International Financial Services Commission (IFSC) of Belize, its sole regulator. The IFSC emerged as a primary choice for brokers seeking a competitive, regulatory environment. In 2016, the broker received LiveHelpNow’s Exceptional Customer Service accolade five separate times. In 2018, FXChoice became one of the LiveHelpNow Challenge’s Top 100 Companies.

1. However, we would suggest you take a look at our Trading courses, and get more professional education which will lower the chance of losing money on the market.
2. There is an FX education hub that is dedicated to helping you improve your knowledge of the markets and trading skills.
3. FXChoice lists swap rates on leveraged overnight positions in its FAQ section under Rollover Policy.
4. This is why our trader Petko Aleksandrov uses MetaTrader 4 n his courses.

Some of the additional tools made available through the broker are automated and will copy signals from other traders. This can be useful if you do not have the time or knowledge to trade by yourself. It is imperative that you understand the risks involved with trading and do not take historical performance as a reference for future results. I actually prefer to do my own market analysis as I like to know when and why each position was taken whilst remaining in control of all my trades. They have a no debit balance guarantee which means that your trades will automatically be closed before your account balance becomes negative. Should this safety mechanism not work due to extraordinary circumstances, they claim to zero your account balance.

Trading Centrals Alpha Generation Indicators can help FX Choice traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing FX Choice traders to potentially stay one step ahead. Let’s explore each of these trading platforms in detail and what options FX Choice gives you. It’s recommended that you check the FX Choice website before signing up. If you decide to close your FX Choice account, it’s important to do so with the FX Choice broker customer support and obtain confirmation that no remaining FX Choice fees are due.

BlackBull Markets fits a broad spectrum of traders since it provides a complete trading experience with one of the most balanced proposals with almost every point neat. There is one of the largest Products offerings, with over 26,000 trading instruments. Platform selection and software are also very strong with multiple capabilities and perfect Charts including MT4, MT5, cTrader, and Proprietary software. FXChoice offers tight spreads starting at 0.0 pips on popular currency pairs, which maximizes a trader’s profitability. It offers one of the lowest minimum deposits in the market at only $10, which is the same as Roboforex, Traders Union’s Best Forex Broker of 2023. Traders who want to engage in social trading have two options at FXChoice.