FX Choice: Is it a Scam or Legit Broker?
Contents
You need to be sure that you are registering with a legitimate forex provider. All brokers listed here at Forex Choices are fully regulated and safe to join. The broker’s client support team is available 24/5 and can be reached via telephone, email, and live chat. The news section is replete with information on the latest happenings in the financial markets.
They offer various learning and trading tools as well as a responsive client support team. There is a choice of various trading account types, including Islamic and demo accounts. Putting it all together, FXChoice is an established online trading broker that has been providing a good range of trading products and service since 2010. The broker provides you with convenient market access via the user-friendly yet powerful MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. Various useful trading tools, educational resources, and a knowledgeable client support team are available to assist you with you day trading activities.
Trading Accounts
Even so, FXChoice still ranks high as a reputable broker with a worthwhile product offering. Open an account today and claim your 65% Deposit bonus with no fees. The Web Terminal, available for both MT4 and MT5 users, allows you to trade via a browser without the need for downloading additional software. Both iOS and Android users can download their respective MT5 mobile versions here.
You can refer to fx choice’s terms and conditions to see more about its own policies. This can look to be a small number, but over the entire year, it adds to a substantial amount of gains. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
It is a market maker, functioning under the regulation of the FSC, and offers full protection of its client’s money. There are multiple funding options as well as withdrawal methods available on the platform, thereby allowing more traders to be able to trade on the platform. The broker’s clients are provided with the intuitive MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. They also provide traders with the right resources, such as useful trading tools, educational materials, and a responsive client support team to ensure an enhanced trading experience.
According to broker Terms & Conditions, the broker is operating in every country where its operations are not against the local law. Since we were not sure what this exactly means, we checked some of the FXChoice reviews by clients. While there are no commission fees on the Classic account, a commission fee of $3.5 per side is charged on the Pro account. Here is a screenshot of the methods used by the broker for processing deposits. It is good to know that there is a demo for both the Classic and Pro account.
It means that when you make a deposit to your Forex brokerage account with FXChoice, your funds will be kept in a top tier bank in Belize. Doing so will separate the corporate finance, such as risk capital or any operational capital of the company from client deposits. As a result, your funds will be secure in the invent of the liquidation of FXChoice. 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. Terms and conditions apply to both the bonus and the promotion.
FX Choice Platforms And Tools
Once your account has been approved, you can make a deposit and commence trading. Cryptos are online currencies based on complex mathematical algorithms that have continued to increase in popularity over recent years. Trading Crypto CFDs allow an investor to speculate on them without actually directly owning them.
Take advantage of our bonus on Crypto within seven days of verification and enjoy a 65% bonus on Crypto deposits. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. IFSC there, still represent a stringent financial regulator who exercises a degree of control and comprehensive oversight procedures.
We only feature licenced forex brokers so by clicking ‘Trade Now’ on a broker here at Forex Choices you can be 100% sure that we are sending you to a safe, trusted and reputable online forex operator. Regulatory bodies vary, but popular regulation generally comes from the Financial Conduct Authority or the Cyprus Securities and Exchange Commission . However, the broker implements various security features to ensure the overall security of clients’ funds. For example, FXChoice 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.
Pro Accounts can be opened with a minimum initial deposit of $100. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. I had a some money in my account that i had saved there more than a year there without trading and I don’t know how was it possible but my account was managed by someone who i really don’t know. Now i contacted them and the only things they did is ” we will open a case ” but that was all.
Besides the Web Trader, clients of FXChoice can also access their Live trading account using Android and iOS apps on their smartphones and tablets. However, if you are a “Pro” Forex trader and opening such an account, it only makes sense that your broker will treat you like a responsible professional who knows what he or she is doing. FXChoice accepts credit card and debit card withdrawals in addition to the options listed below. As a matter of policy, the same method of funding must be used for deposits and withdrawals. Withdrawal of money is possible at any time from your fx choice account. It’s possible to withdraw up sums to the sum of your account balance, keeping aside the margin fx choice review used.
Trader Education
You can use this feature to build your faith in the system as well as yourself and your trading strategies. For other trading platforms, the inactivity fee depends upon the type of account you’ve selected. The inactivity fee is exposed to a lot of conditions and needs to be disclosed clearly by the broker beforehand.
- FXChoice lists swap rates on leveraged overnight positions in its FAQ section under Rollover Policy.
- If you’re depositing to your FXChoice account via wire transfer, you should know the supported currencies are EUR, GBP and CAD.
- The programme consists of five tiers and all MT4 & MT5 Pro account holders are automatically enrolled.
- For example, the Pro account is much better suited to traders who prefer scalping and using robots.
- The minimum deposit and withdrawal amounts vary depending on the payment method, as do any applicable fees.
- The withdrawal requests that are made during business hours are usually processed on that same business day.
The company has been operating as a broker since 2010 and has grown to a broker executing over 150,000 transactions daily. When reviewing Forex broker, the first thing that investors look for is a valid brokers license. The reason https://broker-review.org/ smart people use a licensed broker is because in the event that the broker goes out of business, your money is protected. The latter is known as offshore jurisdiction with a relatively easy way to obtain a Forex trading license.
If you are holding positions for the long term, I don’t think it will make a great difference. However, if you are day trading and taking multiple positions, you will probably need the lowest spreads possible. This service allows you to copy signals of traders who have their accounts published on the popular social trading website Myfxbook.
Platforms and Tools
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Deposit and Withdrawal Fees
A VPS offers a low-latency trading environment, superior execution and 24/7 uptime which is ideal for automated strategies. Further, clients can access the MetaTrader marketplace to access thousands of additional trading tools and strategies. FXChoice supports diverse deposit and withdrawal fxchoice review channels, including major credit cards, e-wallet providers and cryptocurrencies. Also, recently it started accepting direct wire transfers so if you want to deposit larger amounts of capital into your FXChoice brokerage account, you can safely do so from your bank account.
