FXChoice Broker Reviews and Full Information

What is FXChoice?

FXChoice is a renowned online broker specializing in Forex and CFD trades for both private customers and fund managers and institutional investors alike. Its broad range of products and services is aimed at all kinds of traders. The firm has been in the Forex business since the year 2010. FXChoice offers trading in cryptocurrency, forex CFDs, index CFDs, and commodity CFDs on MetaTrader 4 or MetaTrader 5. The maximum leverage obtained through the system is one hundred percent. The range of leverage that traders can decrease or increase begins at a minimum of 1:10.

About FXChoice

• Registered in No Registration
• Type of License No License
• Is FXChoice secure to trade with? No
• Recommended Licenses FCA in U.K. & ASIC in Australia
• Alternative Broker F Markets is approved through ASIC in Australia

Licenses & Regulation

Is FXChoice Regulated?

It is controlled and owned by FXChoice Ltd. Offshore company, based within Belize, and is regulated by Belize's locally-based International Financial Services Commission (IFSC).

Belize as a beautiful holiday destination. It is also a tax-free zone that has a tax-free structure. It has its own rules regarding financial investments and Forex firms ' licensing due to increasing demand and the necessity of regulation. Since Belize was made a well-known offshore zone and a Forex hub, Belize has attracted a lot of brokerages looking for the chance to establish themselves as an authentic business but bypass costly and complex established procedures. We have a comprehensive article outlining the risks of trading through Belize brokers.

FXChoice in India

FXChoice permits Indian traders to create an account and then trade. However, FXChoice has no mention of compliance with Indian regulatory bodies on its website. It is essential to note that Forex trading is illegal in India. Any regulatory agency in India doesn't control the broker, so that money safety could be the problem here.

FXChoice in the USA

FXChoice does not have legal status within the USA and isn't available to American traders. According to U.S. legislation, brokerages regulated through CFTC are the sole brokers permitted to traders from the USA traders. This means that excluding FXChoice, You are only allowed to trade with U.S. authorized platforms.

Here is the complete list of the countries which the broker is not able to take on: Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, Syrian Arab Republic, Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, United States Minor Outlying Islands, American Samoa.

Deposit & Withdrawal

The first minimum deposit is $100 USD in FXChoice's Classic account. FXChoice provides a variety of payment options, including major credit cards (including Visa and Mastercard) and cryptocurrency and the majority of popular e-wallets like EPay, Perfect Money, Skrill, Neteller VLOAD, Fasapay, Astropay and several others.

Apps

FXChoice provides MT4 along with MT5 mobile applications. The most well-known trading platform on the planet, MT4 allows you to trade on Forex, CFD and commodity markets. It has a range of analytical tools that will enable you to keep track of everything, even when traveling. The two iOS and Android users can download their respective MT4 portable versions by clicking here.

MT5 is the latest platform offered by MetaTrader. It's not just an obvious successor to the world-renowned MT4; it is an entirely new platform that offers more advanced trading features, such as new types of orders and market depth displays. The two iOS, as well as Android users, can download their respective MT5 mobile versions here.

Demo Account

FXChoice provides traders with the opportunity to test strategies and get acquainted with the platform through the demo account option. Demo Account: Demo Account is offered to offer traders a demo of the trading platform provided by the broker and give traders the possibility of trading with real trading conditions. The trader can get more experience before moving to trade with actual money and taking on real risk. Traders can practice their trading strategies and become comfortable using the software at their individual pace. A demo account will expire in 90 calendar days if the user fails to log in.

Conclusion

In the end, there isn't any long-term trust in the FXChoice trading environment, as numerous complaints are coming from customers of the broker. The downside to FXChoice is that there are multiple negative reviews about the company, such as the slow execution of withdrawals and poor execution, which are significant concerns in the case of brokers like this.

We strongly recommend opening a trade account with brokers licensed by respected international authorities, adhering to the rules and regulations, and having an excellent reputation during the period of operation they offer. Investors should only trade with licensed brokers, such as U.K. brokers from Australia and trustworthy brokers like AvaTrade and XM.com.