October 27, 2020

FX Choice Forex Broker Review - MUST Read This Before opening Account !

Everything you need to know about FX choice broker

FX choice broker introduced in 2008, they facilitate the customer with their best services like Forex trading, spread betting and hared dealing trading services. It is the most credible platform for Forex broker, and their headquarters is in Belize.

For any broker, stock symbols mean a lot to develop the trader's interest. So, they also have a stock symbol that helps you to buy the shares publically.

FX choice broker is providing the best services. Although choosing the right platform to invest your money is a much difficult task, but the FX broker has its unique qualities and feels satisfied in investing money in Forex Trading.

We recommend you this Forex because of its well developed improved services.

It's necessary to provide you with the right information about the Forex Broker so that you can conveniently avail its services. Here're we are going to give you a piece of detailed knowledge about this broker.

Let’s scroll down

Regulation of FX choice Broker

An essential element about FX choice broker is its regulation. It guides you that whether this Forex is giving you the right platform for investment or not.

International Financial services commission (IFSC) is one of the safest regulation around the globe, and the best thing is that this regulation also regulates FX forex. This news gives you more satisfaction about FX choice Broker.

It’s the most trustworthy platform for investing money without any frauds and scams. All clients funds are held in segregated accounts, separate from corporate accounts.

Let’s now have a detailed look on account types of “ FX choice Broker”.

Accounts types of FX Choice Broker

There are two types of accounts that the Forex Broker is offering:

Classic account
Pro account

Classic Account

Minimum Deposit	Starts from $100
Spread	0.5 Pips
Minimum Lot Size	0.01 Lots
Maximum Lot Size	FX Market-1000 Lots and Cryptocurrencies= 5 Lots
Commissions	None
Swap Points	Dependent on market
Leverage	1:200
Lock Positions	50%
Execution	NDD and Market Execution
Stop Out	25/15
Currency Pairs	38
Spot Metals	Gold and Silver
EAs Permitted	Yes

Pro Account

Minimum Deposit	$100
Spread	0 Pips
Minimum Lot Size	0.01 Lots
Maximum Lot Size	FX Market-1000 Lots and Cryptocurrencies= 5 Lots
Commissions	$3.5 per $100,000
Swap Points	Dependent on market
Leverage	1:200
Lock Positions	50%
Execution	NDD and Market Execution
Stop Out	100/80
Currency Pairs	38
Spot Metals	Silver and Gold
EAs Permitted	Yes

So, these are the two types of accounts that FX Choice Broker is dealing with, and do let us know which one you are going to take.

Pros and Cons of Account Types

Pros	Cons
Perfect place for the professionals	None
Different accounts for different types of Investors
The facility of Demo account is a plus.

A trading platform is the second most crucial factor. So, let's move towards the "trading platform" which FX Forex broker is offering.

Trading Platform of FX Choice Broker

There are so many platforms and tools for that you can avail in your trading circle but having the right venue is the best thing for starting your trading journey. FX Choice Broker is offering you the following platforms:

Meta Trader 4
Meta Trader 5
Mobile Trading

So, there’s no such restriction of trading platforms, and you can use them on any of the available devices.

Pros and Cons

Pros	Cons
They have MT4 and MT5 for the Professionals and Amateur Investors	None
You can now trade on your phone and web.
Best notification system

As we discuss the brief aspects of FX Broker and now let's moves towards the necessary detail.

The Spread of FX Choice Broker

The two accounts which FX Forex is dealing with are:

Classic account
Pro account

Professional investors take spread very seriously because it impacts the overall performance.

If you have just started the whole setup, the classic account is perfect for you as it is for beginners, whereas the pro account is recommended to professionals.

Classic account (spread starts from 0.5 pips)
Pro account (spread starts from 0 pips)

So which account is perfect for you? Do let us know in the comment section given below.

Execution Time

There are following two types of execution that FX Choice Broker is dealing with :

NDD Execution (No dealing Desk)
Market execution

There is no option for instant execution; you've to go for the above-given execution.

Commission and fee

Commission and fee is the crucial factor of "Forex trading" as you know that a lot of brokers don't have a price for beginners. But in the case of professionals, they do have fee and commission.

Professional accounts have different criteria. Now, let's discuss at the commission and fee of professional account types.

Classic account (No commission)
Pro account ($3.5 per $100,000)

So, these are the details for the commission and fee.

Now let’s have a look on leverage/margins.

Leverage/Margins of FX Choice Broker

Leverage is the essential factor for a company to declare it's firm financial policy. Most investors look for the "leverage/margins" before investing the money in the account.

There are two accounts of FX Choice Broker, and both have leverage/ margins:

Classic account (leverage 1:200)
Pro account (leverage 1:200)

Margins-based leverage does not affect risk and whether a trader is required to put up 1% or 2% of the transaction value as margin may not influence their profits.

Now let's move towards the customer's views for "FX Forex Broker".

Let's roll!

Customer services

Customer services are always an essential part to get engaged with customers. Best customer service team helps you to develop customer trust in a circle.

They have a faqs sections on the website where you can conveniently find the answer related to the problem you're facing But if you are unable to find the solution and you have somewhat different queries just head towards the:

Live chat
Email
Phone call

And their timely response will help you to solve your problems.

Pros	Cons
Prompt Responses	None
Faqs sections in the website
Every customer service individual is knowledgeable.

As you read about the detailed facts related to "FX Choice Broker" now, we are moving towards the opening of an account. You can safely open the account by following the steps given below:

How to Open an Account on FX choice Broker

Opening the account is an easy task when you’ve decided to go for the FX choice group. Follow the instruction carefully down below.

The first step is to head towards the official website of the FX Choice Broker, and here’s what you’ve to do next:

Now, click on the register button, and you’ll be redirected to a page where they will ask you to enter information regarding “Account Opening.”
Now enter the details they have asked you to enter and complete the "Three-Step" registration to get started.
Once everything is confirmed, you’re all set to head towards the World of “Forex Trading.”

fx choice

Pros and Cons

Pros	Cons
The account opening is super easy	None
No complications are involved.
Three steps account opening.

Now we are moving towards the profit withdrawal from "FX choice broker". You may wonder that the procedure is relatively easy.

You can simply withdraw the money with any obstacle.

Let’s scroll down for further information.

How to withdraw money from FX Choice Broker

You need to follow the step which we are going to tell for withdrawing of money without any inconvenience.

Login to your account
Go to the withdraw option from the main menu and choose the payment type.

Enter the details and click on the “Make a request” button
An email will be sent to you with a confirmation link, and you've to click on it to proceed the payments.
Once done, you'll get the payment within no-time.

Pros and Cons

Pros	Cons
Withdrawing the money is fast.	None
A lot of payment methods
You'll get the money in your bank without any delay.

As we have completed discussing the account opening and how to withdraw money, it’s finally the time that we talk about “Comparison” and MetaTrader Platforms.

Comparison of FX Choice Broker with Tradersway

Let us have a look at everything in a table to explain everything to you clearly.

FX Choice Broker	Tradersway
Two types of account: For beginners and professionals	Four Types of accounts: For beginners, professionals, experienced and VIPs
Regulated by IFSC	Regulated by None
Founded in 2008	Founded in 2010
Maximum Leverage: (1:200)	Maximum Leverage: (1:1000)
Trading Platform: MT4, MT5	Trading Platform: MT4 and cTrader
A lot of payment and depositing methods. Including Bank Transfer and crypto transfers	A lot of payment and depositing methods. Including Bank Transfer and crypto transfer

Now, it’s time to talk about the trading platforms that “FX Choice Broker" facilitates you.

Trading Platform: Which one is best?

FX Choice broker work with the industry best-tested software like MetaTrader 4,5 platform, web trading. There are three types of trading platforms that "FX Choice Broker" is providing to you.

MT4
MT5
Mobile Trading

But, you must be wondering about which one to choose and which one is the best fit for you.

MetaTrader 5	MetaTrader 4
Pending Order Types: 6	Pending Order Types: 4
Depth of Market: Yes	Depth of Market: No
Technical Indicators: 38	Technical Indicators: 30
Graphic Objects: 44	Graphic Objects: 31
Time Frames: 21	Time Frames: 9
Economic Calendar: Yes	Economic Calendar: No
Hedging: Yes	Hedging: Yes

Here in the given table, it's obvious to choose the best platform from Mt4, Mt5. Mt5 is the best choice to further work with the companies having an Mt5 because it offers a lot to the customers. They full fill the needs and demands of the customer on a big scale.

Choosing the right platform that helps to enhance your trading quality is one of the essential tasks.

We hope that after reading all, you can quickly get your right platform. Do let us know in the comment section.

Now, let's move towards the advantages and disadvantages of the FX Choice Broker.

Advantages and disadvantages

There are several advantages and disadvantages of FX Choice Broker that you must be kept in your notice before investing your money. As you know, with the massive growth of trading opportunities, the financial market has become accessible to more and more people.

So, Forex is often the market of choices for pros and cons alike.

Here we are moving towards the advantages first so that you'll discover on the trading journey.

So let us take start from the advantages.

Advantages

Fx Choice is an excellent place to trade because this broker offers a wide range of markets.

They are regulated by the world's best regulation, known as IFSC.
They have accounted for both beginners and professionals.
They offer you a variety of bonuses and discounts for the new traders.
They have more than 100k traders online.
The minimum deposit fee is $100.
They facilitate the customer by providing the best services.

Disadvantages

The disadvantage of FX broker is that it is fast and volatile in making money, and the downside is that you can also lose money at the same rate.
They do not allow hedging.
The FCA doesn't regulate them, this isn't a significant disadvantage, but most of the customers want this platform to be controlled by the FCA.
They only offer three trading platforms.
They have a lack of trading instrument compare to other brokers.

So, these are the significant advantages and disadvantages of FX Choice broker. If you know any other pros and cons of this broker, do mention in the comment section so that we can get your views.

Before winding up the things, let’s move further towards the “Bonuses, contest and promotions”.

These all the very crucial things so we will discuss them in detail.

Let's scroll down again!

FX Choice broker Bonuses, contest and Promotions

Let’s discuss the bonuses first:

Depending on your account type, the percentage of the deposit offer may differ.

Only one Bonus will be issued per client. The Bonus applied to every investment where applicable.

The Bonus is equal to the 15% of the sum you deposit to your trading account, but the total amount of the Bonus can't excess 5 000 USD for the very first time. Additionally, the customer can be rewarded with the amount of $10,000 a month for the beginners.

Seasonal promotions are a huge part of Forex bonuses during holidays and events. Broker tries to release seasonal Bonus that is only available for the limited time. Currently, there is a new promotion going on called "loyalty programme' in most active traders gets the profit in a trading cost.