FX Choice Review
FX Choice is an online Forex broker who began operating in the market in 2010. The platform has a choice of 38 currency pairs and 14 other available tradable assets that give an idea of other types of trading instruments.
How Does FX Choice Exchange Work
FX Choice offers its users to open a demo and live account Classic, Cent, and Pro. The classic account is distinguished by a small commission and market execution of orders. A Cent account is more suitable for speculators who transfer transactions to the next trading day. The commission for the lot on the Pro account is $ 3.5.
In your personal account, all the trading and analytics functionality is available. In the “Services” section you can find access to trading terminals, for example, to the Myfxbook Autotrade automated trading service. There is also a unique economic calendar, which is available in a separate block.
The minimum deposit on the platform is $ 100, leverage up to 1: 200, a floating spread and a minimum lot of 0.01. It is possible to transfer transactions to the next trading day and use bots for automated trading.
The broker has access to 38 currency pairs, among which are the most volatile, CFDs, indices, cryptocurrencies, commodity assets, energies, and precious metals.
After registering for FX Choice, a trader can choose any of such trading platforms as MetaTrader4, MetaTrader5. The web resource recommends using MT5, as it has several advantages over MT4. The terminal version in it includes 21 timeframes, 44 graphic objects, and 38 technical indicators.
Deposit replenishment is carried out by all popular payment systems: Skrill, Visa, Mastercard, Webmoney, Neteller, Poli, and others.
One of the broker’s tools is a MAM account. This is an analogue of PAMM investing, where each investor can transfer his deposit to a professional trader for management. The profit will be credited to the investor’s account with a deduction of the manager’s commission.
It allows users to earn money without experience, skills and without wasting time on trading. An alternative to such a service of copying deals can be MQL5 Signals. This is a program for receiving signals from successfully registered traders with subsequent copying of transactions that is available in MT5.
Mobile versions work on Android and iOS.
How To Trade On FX Choice
To create a personal account on FxChoice it is enough to spend about 2 minutes. Authorization occurs through confirmation of the phone number. After that, you will need to go through verification. Despite the fact that the procedure is not mandatory at the first stage, it will be necessary to confirm the identity when withdrawing funds from the deposit.
Is FX Choice Safe?
The broker is regulated by IFSC, which is not considered the highest level regulatory body, as they are generally lenient. Nevertheless, the company stores all user funds in separate accounts. This means that your capital is protected in the event of insolvency of the platform and it cannot shop or trade for your money.
FX Choice has good spreads, a standard minimum deposit and reliable platforms. There is an opportunity to trade without a commission, deposit and withdrawal is fast. Among the disadvantages, one can single out that for most payment methods there are commissions, there is no weekend support for some traders, the leverage of 1: 200 is too low.