Detailed FXChoice Broker Review
FXChoice is an international brokerage company.
The company’s specialization is the opening of access to the financial markets of the world to everyone. Please note that the dealing center does not serve US citizens, which is a clause of the company’s internal agreement.
General information about FXChoice
• Year of foundation – 2010 (August);
• Specialization – providing access for traders and investors to the financial markets of the world;
• Country of foundation – Belize;
• The presence of a regulator – yes.
Trading conditions of the broker remain loyal. The minimum deposit is set at $100. Unfortunately, access to cent accounts is not available. But each new user will always be able to test own strength on a free, demo account.
The broker informs that all spreads on traders deals are floating, from 0 pips. You can find out the exact amount of commission on the website in the corresponding section. In total, two types of accounts are offered – standard and professional. The second account type is listed as ECN. In another, there is practically no difference. The minimum leverage is set at 1: 200, and the initial lot volume is set at 0.01.
Benefits of FXChoice Broker
Compare different brokerage companies efficiently in all parameters and conditions of work. In writing this review, our task was to compare various factors. One of them is the quality of the support service. After all, it is very important that company managers can respond to user requests in a timely manner and not ignore possible complaints. You can contact the support service of this broker through a special form on the official website. You can also write to the email address. Response time – from 15 minutes to several hours during business hours on weekdays.
Another advantage is free access to a VPS if your deposit exceeds $3000.
Trading is carried out through the standard and independent trading terminal Metatrader 4 and 5. It is available in the version for personal computers and in the version for mobile devices. Also on the site in the section with terminals there is a transition to the web version of Metatrader. Therefore, users will be able to trade online.
A large number of trading instruments should also be added to the list of benefits. A total of 28 assets are available, including popular currency pairs, cryptocurrency, company stocks, and raw materials. Unfortunately, access to binary options has been closed. Now all the broker’s attention has shifted to the development of new investment programs.
This company is not without flaws, like most of the other dealing centers. One of the negative factors is the absence of European regulation by independent commissions. In Belize, there are bodies that, according to the broker, have issued a license to carry out brokerage activities. But these bodies do not have European jurisdiction. Therefore, for some, having a license from an unknown regulator can be damaging.
Broker FXChoice remains loyal to its customers. There are several tools available on the site to help investors and traders. For example, the economic calendar is updated online, providing access to timely news. Use also the service of connecting trading signals through MQL5. You can choose a signal provider and connect for a fee. In this case, all transactions will be opened and closed automatically by the signals.
To become an official broker client, you must complete the registration procedure. After that, you will be offered to download a free trading terminal on the site. Next will require user verification. To do this, through a personal account you will need to download a scanned copy of a passport (for citizens of any country other than the United States). After moderating the data, the user will have access to all functions of the dealing center.
What written in the reviews about FXChoice
It is difficult to evaluate the broker’s activities by reviews, since the responses can be written both by non-active clients and in order to discredit the brand. Opinions of users about the company described a little. But most are positive. In the responses, people write that they are free to withdraw funds, and the term for processing applications does not exceed 1-2 business days.