FXChoice
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Overall Score
Summary
At Cryptocoin Stock Exchange we pride ourselves in reviewing the most popular crypto trading platforms, like FXChoice. In our FXChoice review we have concluded that FXChoice is a recommended platform for trading, it is not a scam. You can sign up with FXChoice in the link below or continue reading the full review for more info.
FX Choice Review
FXChoice is a brokerage company that was established in 2010 and has its headquarters in Belize. This broker is regulated by FSC, the Financial Services Commission. In the 10 years that FXChoice has functioned, it has started to become a leading broker in the online trading industry.
This broker has won several awards for its customer service and different tools.
Security and regulation
All transactions here are made safely and kept in a segregated account. All of your passwords will be encoded and encryption of communication is guaranteed. This broker offers both MetaTrader platforms and they both are encrypted as well. It is thoroughly regulated and does not accept any customers from the USA.
Account types
FXChoice offers two types of live accounts, the MT5 classic, and the MT4/5 pro. They both are quite similar. The minimum deposit amount in both these accounts is $100 and the lot size in both accounts is 0.01. You can also verify any account by following just a few steps on the official FXChoice website.
When it comes to the differences between these accounts, there are a few distinguishing factors. The MT5 platform is available only on the Pro account. The pro account also has tighter spreads and a commission fee of $3.5. You can also create a demo account to get used to the features and strategies of trading. Moreover, you can also request an Islamic account.
Deposits and withdrawals
Depositing funds on FXChoice is very easy and you are provided with several options like e-wallets, card payments, and cryptocurrencies that include Bitcoin and Ripple.
The minimum deposit here is 100 USD or currency equivalents. Some of these payment methods have 0 fees but others may have processing charges; hence it is important to check for additional fees.
When withdrawing cash, you can use cryptocurrencies, card payments, and e-wallets. On a business day, the withdrawals are processed within 24 hours. Just like the deposit fees, some withdrawal methods mainly contain fees, so you should always check beforehand.
Trading platforms
With FXChoice, you can install the mobile app for convenient trading. These apps can be installed on iOS and Android phones. They function in just about the same way as the desktop version, but you can receive push notifications on your phone and not your laptop. The app can also be downloaded on an iPad and you can find it on App store or Google Play.
As mentioned before, this broker offers MT4 and MT5 platforms as well. MT4 is suitable for traders with any amount of experience. It is a platform with several tools and features you can use to trade. You can choose between various time frames and 2000+ technical indicators.
MT5 is a platform more suitable for professional traders. This platform has more tools, time frames and order types than MT4. Both of these platforms are available on PC and MacBook.
Leverage
FXChoice offers very flexible leverages starting from 1:25 and ending at 1:200. You can access these leverages no matter what account you have. There is a 50% margin level, and you can find more information about the margins in the product guide.
Additional benefits
FXChoice offers tight spreads starting from 0.0 pips and offers you to choose between MT4 and MT5 downloads. Here, you can trade cryptocurrencies and social trading is also available. This broker allows hedging and scalping. Other brokers like Oanda and Hugosway may not have these features.
Customer support
This broker wants its clients to have a good trading experience, whether they are experts or beginners. Therefore, a customer support team has been set up. You can contact them through their official helpline, live chat, or even by email. You can stay up to date with any updates or events held by FXChoice by following their social media pages.
Conclusion
FXChoice has many features and tools to make trading convenient for its clients. It is extremely crucial to trade using a broker that has features to meet your needs and this broker does just that. Clients can choose which platform to use, which account to make, and what tools to use. You are sure to have a good experience by using FXChoice.
