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FX Choice Broker Review Should You Be Using This Forex Broker?

Moreover, an internal risk management team monitors management operations to ensure that they comply with regulatory policies. FXChoice is regulated by the International Financial Services Commission of Belize (IFSC). 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. The news section is replete with information on the latest happenings in the financial markets.

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Deposits and withdrawals methods are presented by the most popular methods like wire transfers, bank cards, Skrill, Neteller and some more though missing several others that might be used as well. Cryptocurrencies are available as well so users can make direct payments without using and Payment System Provider. Popular E-wallet services like Skrill and Neteller are also in the list of available methods. Please note that the information on our website is for informational purposes only. Traders who require more in-depth educational resources may need to supplement their learning with external materials or seek out additional educational programs.

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The third and final account on offer at FXChoice is the demo account. Almost all decent brokers out there have a demo and it’s not hard to see why. They need to train their trading skills on the MT4 and MT5 before they start trading complex instruments with real money.

MetaTrader 4

All trading online carries a significant element of risk that you should be well aware of. Established in 2000, MetaQuotes is a leading developer of financial trading software for brokerages, banks, and exchanges. The company’s representative offices are located in many countries around the world. Trading terminals are limited to MetaTrader 4 and MetaTrader 5, though WebTerminal and Mobile Application are offered also. There is no cTrader terminal and no FIX API for direct connection, mainly used by algo traders. Finally, FXChoice might be considered as a medium quality broker mainly because of its offshore license.

  1. Your actual trading may result in losses as no trading system is guaranteed.
  2. FXChoice provides more supporting tools than many alternatives, including signals, auto trading, a VPS, and a research center.
  3. If you do want industry leading market analysis software, then you might want to take a look at who have the brilliant Autochartist and Trading Central tools.
  4. It doesn’t matter if you are one of the most experienced traders or someone trading with investment advice, there is no reason why you can’t trade these assets.

Compared to other brokers, FX Choice offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow. As part of our, we review customer service options, response times and problem resolution effectiveness on the FX Choice trading platform. The FX Choice trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

That being said you also need to look into rollover fees, which change depending on the market that you are trading. That information is freely available on the website, and for the most part, looks to be a rather standard – neither overly expensive nor cheap in comparison to competitors. FXChoice has also collected several prestigious awards within the industry, many of which are centered around their excellent customer support fx choice review services. Since then, they have become a well-known and trusted broker for thousands of traders globally. The fact that they have been successfully operating for well over a decade shows that they are committed to offering a quality trading product. Whether you have a technical issue with the trading platform or need assistance with account-related matters, the FXChoice support team is readily available to assist you.

FXChoice holds collateral to cover the trader’s credit risk, with a margin requirement determined by the leverage given. A margin call strategy controls risk and prevents clients from going into negative balances. FXChoice facilitates global trading transactions in multiple currencies, with USD as the base currency. However, currency conversion fees may apply for transferring funds between currencies. After completing the registration form, traders must provide evidence of identification and domicile to authenticate their new FXChoice account. Rates, terms, products and services on third-party websites are subject to change without notice.

They have a choice of versatile account types for you to choose from depending on whether you prefer tight spreads or zero commission fees. MT4 was developed by trading software company MetaQuotes and has won multiple awards. The FXChoice version of MT4 combines the platforms standard features with real-time price feeds from global markets, fast execution speeds, competitive conditions and interbank liquidity. It has a user-friendly interface and multiple built in tutorials for beginners whilst having a great range of technical indicators and functions for the more advanced traders.

And to make things even more interesting, for certain types of deposits, you get a superb welcome bonus. All the accounts are ideal if you want to trade forex in your economic calendar. FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders.

We advice to think twice before opening accounts with brokers that do not have NFA, FCA or CySEC licences. When we create a broker review, we always look at what education materials are provided. Our reviewers found that FXChoice does not, however, accept traders from Italy, Spain, North Korea, or Belize. Overnight fees, varying per instrument, are charged for open positions after market closing. FXChoice’s policy outlines these fees, which are calculated using the current interest rates of the traded currencies.

Besides, you also get to choose between meta trader 4 and meta trader 5. FXChoice is an online based brokerage firm that gives you access to the global financial markets. Whether you are looking to engage in CFD trading, forex trading, or even trades on commodity CFDs and indices, this is the brokerage firm to try out.

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