The forex market becomes more accessible to average level of investors in the recent years. However, it is still very complex and requires a certain level of knowledge to make a good investment. So, a good broker is needed, and FXChoice is such a broker. FXChoice broker offers a unique and effective trading platform, a wide range of financial instruments, and various trading tools to help you become a successful trader. Get to know more from this FXChoice review.
FXChoice is a well-known forex broker that provides traders with a wide range of trading tools and features. The company offers traders access to more than 36 currency pairs and several types of accounts and withdrawal methods. In addition, FXChoice offers educational resources and support services to help forex traders achieve their trading goals. With such a comprehensive range of features and tools, FXChoice is a great choice for forex traders of all experience levels.
As per the FXChoice review, we have found that it is a new and unique online forex broker with a strong focus on the needs of retail investors. It has been operating for over 10 years now and gathered a long list of highly satisfied customers. It’s no wonder that the FXChoice team has been able to create some simple and easy-to-use features.
FXChoice Review: Regulation
The FXChoice regulated by the FSC Belize. The FSC was established in 1999 and is responsible for regulating the financial sector in Belize. The FSC has successfully brought about reforms within the financial sector and has helped improve Belize’s investment climate. The FSC is also responsible for supervising the operations of forex brokers and other financial institutions in Belize.
FXChoice Market Instruments
FXChoice broker offers both retail and institutional clients access to a wide range of FX products, including forex, crypto, indices, shares, and commodities.
Since it is a forex broker, the company mainly focuses on forex pairs. They provide 36 currency pairs to their clients.
The broker also provides three crypto CFDs if anyone wants to trade besides the forex. So, you will trade Bitcoin, Ethereum, and Litecoin. However, you will not be able to trade as a crypto pair. Instead, you will be trading those three cryptos against the US Dollars as CFD.
Trading indices is another instrument FXChoie offers. They provide shares from the top 6 indexes in the world. The indexes include US30INDEX, UK100INDEX, DE30INDEX, US500INDEX, USTECHINDEX, and JAPANINDEX.
You can also get the opportunity to trade shares using FXChoice Broker. They offer around 55 shares from top industries.
Finally, you can also trade commodities, which include energy and metal such as gold and crude oil.
FXChoice Review: Accounts
While many brokers offer more than three account types, FXChoice account types have only two categories. They offer classic and pro accounts only. On top of that, you can also open an FXChoice demo account too. Let’s see the details of each account type.
FXChoice Demo Account
The demo account offers beginners an opportunity to experience the trading platform before investing any real money. It provides you with access to all of the features of the full account, including live market data and market analysis.
You can learn how to trade with an FXChoice demo account. Also, it lets you practice trading without risking your real money. With a demo account, you can test out various strategies and see how they work before putting any real investment at risk.
Overall, it is best to trade with a demo account before you open a classic or pro account.
- The classic account offers FXChoice commissions-free trades and boasts a user-friendly interface. FXChoice Classic also offers a variety of tools and analytical tools to help traders make informed decisions.
- The classic account also has a live market data feature that lets traders see real-time updates on their portfolios.
- Another benefit you will get is FXChoice leverage up to 1:200 for most of the liquid forex pairs in the world. The FXChoice minimum deposit for a classic account is $100.
- The classic account offers 0.5 pips with a 0.01 minimum lot size.
- FXChoice broker pro account gives users access to more features and analytical tools than the classic account. This account also has a higher trading risk limit.
- FXChoice spreads for pro accounts start from as low as 0.0 pips, while you require to pay some commission. It is $3.5/ notional amount of $100,000.
- It is an NDD and market maker.
- Maximum FXChoice leverage for the pro account is 1:200.
FXChoice Review: Deposit and Withdrawals
FXChoice broker offers 25 different deposit and withdrawal methods, and you can use the best one according to your needs. However, according to the FXChoice withdrawal review, the most common transaction methods are debit card, credit card, Neteller, cryptocurrencies, and Skrill.
Keep in mind, regardless of the methods, and the FXChoice minimum deposit remains the same, $100. FXChoice deposits can be used to purchase any instruments you want. So, you don’t need to deposit a large amount of money to trade with an FXChoice broker.
FXChoice Review: Trading Platforms
FXChoice offers an industry-leading platform for its traders, which includes MetaTrader 4 and MetaTrader 5.
FXChoice MetaTrader 4
- MT4 is the top forex trading platform available now. It has a user-friendly interface, which is great to use for both newbies and advance level traders.
- FXChoice MetaTrader 4 offers a wide range of charting tools so that traders can use them to make informed and updated decisions. Also, FXChoice MT4 charting tools and indicators let you visualize the market movement according to the most recent live data.
- With all these great features, FXChoice MT4 is available for major operating systems such as Windows, Linux, Mac OS, iOS, and Android. Besides, you can use it on all the latest smartphones.
FXChoice MetaTrader 5
- While FXChoice MetaTrader 4 is great for forex trading, FXChoice MT5 is specialized in commodity trading. Although the MT4 has some advanced traders, newbies can easily use it.
- The MT5 gives a minute-level precision for the traders who trade on tight FXChoice spreads in high volumes.
- FXChoice MetaTrader 5 provide real-time tracking and analysis so that traders can manage their investment efficiently.
- FXChoice MT5 is a very powerful and robust platform designed to make trading easy and straightforward.
- It is used by many different types of traders, including day traders, swing traders, and long-term investors.
- It has a user-friendly interface that allows users to easily access the information they need without spending a lot of time learning how to use the platform.
FXChoice Broker: Mobile Trading
The best thing about FXChoice Broker’s mobile trading is that you can trade from anywhere, at any time. This means that you can trade whenever you have time.
You can use a mobile platform to trade more efficiently than a desktop trading platform. Desktop trading platforms require you to be at your computer, which can take up valuable time. Mobile platforms are more efficient because they allow you to trade wherever you are available.
A mobile platform is more reliable than a desktop trading platform. If your internet connection goes down, your desktop trading platform will be affected. Your mobile trading platform will still function using mobile data.
Also, FXChoice mobile trading platforms are more secure than desktop trading platforms. You don’t need to worry about hackers stealing your information.
However, you may not be able to access all the advanced charting features. But, you can check the price of currencies and then decide whether or not to make a trade.
FXChoice Broker: WebTerminal MetaTrader
First and foremost, you don’t need to install any software on your computer if you use the FXChoice web terminal.
As you already know that forex trading involves many different currencies and a lot of technical analysis. It can be a bit intimidating at first, but there are some really great resources out there that can help you get started.
With so many information changing on the market, it can be hard to find the data you need. That’s where Forex trading web platforms come in. They give you all the information you need, and they also give you access to a wide range of trading tools.
FXChoice web platforms can save you a lot of time. You can also use them to automate your trading, which means you don’t have to manually trade the market.
Web terminal is accessible from any type of desktop operating system. And you can trade forex, CFDs, stocks, and Cryptos.
As you already know that FXChoice Limited offers easy to use trading platform along with different tools and indicators. Additionally, they also offer some unique features such as MQL5 Signals, Auto Trade, Expert Advisors, Copy Trading, and VPS.
MQL 5 Signals
The service provides trade signals, which are essentially recommendations for buying or selling a currency pair at a particular time. These signals are generated by algorithms, which take into account a variety of factors such as economic indicators, price movements, and order flows. As a result, MQL5 Signals can help traders to make more informed decisions about when to enter and exit trades.
In addition, MQL5 also provides access to analysis and commentary from experienced forex traders. This can help to give traders a better understanding of the market and the factors that drive price movements. Overall, MQL5 Signal is a valuable service that can help traders to improve their forex trading performance.
Expert Advisors (EAs)
Expert Advisors, or EAs, are automated trading systems that can be used to trade the forex market. FXChoice EAs can be an invaluable tool for forex traders, as they can provide accurate and up-to-date information about the market. In addition, EAs can help to identify trading opportunities that might otherwise be missed. Also, traders can get free time to focus on other aspects of their trading strategy.
My FXChoice broker auto trading use pre-programmed computer algorithms to buy and sell currencies. The goal of auto trading is to make profitable trades without spending a lot of time analyzing charts and waiting for opportunities to arise. Auto trading can be a helpful tool for new traders, but it is important to be aware that there are risks associated with this type of trading.
Hence, you must know how to use it before proceeding with it.
FXChoice has integrated its platform with ZuluTrade to offer copy trading features to its clients. It involves copying the actions of other traders and hoping that the market will move in the same direction as the trader’s original trade.
FXChoice Review: Customer Service
FXChoice customer service is available 25/7 to answer any of your questions. The team is highly experienced and takes pride in providing quality service.
FXChoice is a regulated Forex broker that offers competitive spreads, fast execution, and a variety of account types. They have been in business since 2010 and offer its traders the ability to trade over 100 instruments, including 36 currency pairs, commodities, indices, and stocks. FXChoice also offers an Islamic account type for those who follow Sharia law.
FXChoice is a good choice for Forex traders who want: Competitive spreads, fast execution, a wide range of tradable instruments, and access to an Islamic account.
So, this FXChoice review recommends FXChoice for Forex traders who are looking for a reliable broker with competitive spreads, fast execution times, and a variety of tradable assets.