- Tight spreads from as low as 0.1 pips
- FXChoice allows a minimum trade size of as low as 0.01 lots.
- It offers rapid market execution.
- It employs NDD technology.
- It offers excellent customer support through its competent customer support team who operate 24/5.
- It allows its clients to use a variety of methods for depositing and withdrawing funds. However, the client can only withdraw funds using the same method that he or she used to deposit funds.
- Among the methods from which FXChoice clients can use to withdraw and deposit funds are: (Moneybookers), WebMoney, Wire Transfer and Liberty Reserve.
- Also, the withdrawal process is very fast. It takes less than 24 hours for the withdrawn funds to reflect in your bank account.
- Its maximum Leverage of up to 1:200 is low especially for forex beginners.
- Since it lacks regulation from a strict regulating body, the security of the clients funds isn’t 100% guaranteed.
FXChoice is a brand name for FXChoice Ltd. FXChoice Ltd was established in 2011 with its headquarters located in Belize City, Belize. It is an ECN (electonic communications network) regulated Forex and CFD broker.
FXChoice uses NDD (no dealing desk) technology and it has grown to execute approximately 15000 transactions per day.
FXChoice only offers three types of trading platforms for its clients. The platforms which are offered include:
The MetaTrader 4 platform offered by FXChoice is compatible with Windows PCs and cannot be used by Mac users. The FXChoice MT4 platform comes with mobile versions for use on iOS devices as well as Android smartphones and tablets.
There is also the web-based version known as Web terminal MetaTrader 4.
FXChoice also allows its clients to use the MT4 successor, the MetaTrader 5. The mobile versions of the MT5 platform are also available.
There is also the web-based version known as Web terminal MetaTrader 5.
This is for operating autotrade services. It provides a place where traders can copy trades from other systems or traders directly into their FXChoice MT4 live trading accounts. It is actually a kind of social forex community with online automated analytical tools.
Clients simply need to link their live trading account with their Myfxbook profile and then subscribe to their favorite traders whose trading strategy they wish to replicate. The trades of the chosen favorite trader will be automatically imitated on the live trading account.
It is free to join and the traders do not require any additional software installation.
FXChoice provides customer support to its clients through a number of methods so as to ensure any grievances or assistance are dealt with promptly.
The customer support team is contactable via their “Contact us” option, live chat, callback or by visiting their FAQ area in case you have a common issue.
By using the “Contact us” option, the client sends a message and waits for a reply which is usually sent through the email that the client provides when submitting a ticket.
In case it is an urgent matter, the client can choose to use the live chat section to communicate with a support team member.
For the callback option, the client provides the support team with his or her phone number and a brief description of the subject that the client needs help with and waits for the support team to call back. This way, the client is not charged for the support they receive.
Security and Fairness
FXChoice is only regulated by the local International Financial Services Commission (IFSC).
IFSC normally offers brokers with a very liberal regulation, contrary to other regulating bodies. It mainly deals with decreeing the regulations and code of conduct, and licensing of the brokers. However, it does not do a lot of checking to see if the brokers are compliant. It also doesn’t do any reporting.
Nevertheless, although the IFSC does not have very strict regulatory guidelines, FXChoice has proven to provide an excellent experience to its clients resulting in LiveHelpNow awarding the company the Exceptional Customer Service accolade five times in 2016.
FXChoice has been in existence for 7 years now and it has proven to be a top-class Forex broker over the years since its establishment. Traders can count on them for an outstanding experience in Forex and CFDs trading.
To date, FXChoice has not been involved in any scam and it is therefore a trustworthy broker to work with.