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FxChoice Review Is it a Scam or Legit Broker 2024

fx choice review

An expert advisor, or EA for short, is an automated trading system that can place buy and sell trades on behalf of the user and manage open positions. I have used them for years and even developed my own in the MQL language for the MT4/MT5 platforms. One of the main advantages of EA’s are that they can analyse the markets and manage trades for you whilst you go about your day. While FXChoice may fall short in terms of educational resources, it does provide some basic educational materials to help traders enhance their trading skills.

MT4 Optimum Account

The waiting time is quite low and you can get response within a couple of minutes. Similarly, the MetaTrader platforms are both fully encrypted and allow users to apply two layers of authentication if they wish, including Google Authenticator. Islamic swap-free, MAM, and corporate options are also available at request. There are some useful trading services available, including the Myfxbook AutoTrade tool. There is also a selection of Expert Advisors for MT4 to download, including the GPSForexRobot for scalping, plus pip calculators. Overall, the company’s substantial net worth demonstrates its success at meeting its clients’ needs.

Discover a broker with over a decade of experience

You will only need to leave your name and phone number and in 24 hours, someone from the customer support team will get back to you. I can confirm that this is a great broker, very fast execution, very good spreads, good liquidity and a many different currencies, indices, commodities! Nice stable broker, enjoy the selection of pairs and the customer service is pretty quick on chat. FXChoice is a great choice for traders looking for a MetaTrader-focused broker that offers both the MT4 and MT5.

What are FXChoice’s spreads?

This is actually a very important feature because it gives beginner traders the chance to directly copy what other experienced traders are doing. The last thing you want is to struggle with a terrible broker. We will look at what exactly the platform is, how it works, the trading platforms, and whether indeed it’s a decent choice for CFD trading. Our FXChoice review team noted that the broker has an extensive FAQ section, which is both easy to understand and thorough.

fx choice review

Commission and Spread Fees

A VPS is also available for investors who want to run their own software. Spreads and fees are slightly higher at FXChoice compared to similar brands such as FXTM. FXChoice is regulated by the International Finances Services Commission Belize and the broker has been in good standing with the Commission since its inception. Blown about 7k over the years of membership…have never managed a positive withdraw ever…. E-mail is a conservative way to get support and it is forced to be used by company authorities in case of some complex issues.

  1. Once you are sure you understand the trading platform and how everything works, you can deposit some money, choose a financial instrument, and invest right away.
  2. There is also a selection of Expert Advisors for MT4 to download, including the GPSForexRobot for scalping, plus pip calculators.
  3. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs.We actively trade, publish educational articles and news.
  4. It is always good to see a broker that cares about users and want to provide them with the right resources so that they can make informed trade decisions.
  5. The broker offers 24/5 customer support via live chat, email, and phone.

fx choice review

FXChoice offers a good range of deposit methods like card payments, e-wallets, and cryptocurrencies, including Bitcoin (BTC) and Ripple (XRP). Note that some methods are only available in certain jurisdictions. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice.

This is something that even some top-tier regulated brokers do not provide so it helps them stand out from the competition. 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. Traders also have the option to open a demo account with FXChoice to practice their trading strategies without risking real money.

The service is also perfect for busy clients who have no time to trade but still want some of the profits on offer. FXChoice offers traders the award-winning MetaTrader4, as it is by far the most popular application in the Forex trading field. With the Pro Account, account spread, and commission are charged separately. The fee structure on Pro accounts corresponds exactly to that commonly adopted in the Intermarket, which is why spreads are significantly tighter compared to Classic accounts. As its name suggests, it is ideal for master or professional traders who like to trade with the tightest possible spreads. Another distinguishing feature of Pro accounts is that they provide full market access with a significantly wider selection of tradable instruments.

You can save on trading costs by earning rebates and reduced commissions through the brokers loyalty programme. FXChoice is a Belize-based forex broker that has been in operation since 2010. It is known for providing a wide range of trading instruments, including major and minor currency pairs, as well as commodities and indices. The broker offers both the MetaTrader 4 and MetaTrader 5 platforms, which are widely recognized as the industry standard for forex trading. To evaluate brokers, we test the accounts, trading tools and services provided.

Most of the information that you need can be found quickly and easily and registering for an account is also straightforward. I found this broker to be pretty good when I’ve used them in the past, good amount of instruments available and the spreads were competitive too. I liked the most their helpful features such as news briefs and summary of the day per currency pair. I have made the same trade with two different brokers just to test the outcome.

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