FX Choice Review

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Overview

Company information FX Choice is relevantly young company which establishment is since 2010. Its license is from Belize where is under regulation by the International Finance Services Commission. The management… more

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Details

Broker FX Choice
Website URL https://en.myfxchoice.com/
Free Demo Account No
US Traders Allowed No

Full Review

  1. Company information

FX Choice is relevantly young company which establishment is since 2010. Its license is from Belize where is under regulation by the International Finance Services Commission. The management team has over ten years of experience, and the services are friendly and with great conditions. The company trades metals, futures and Forex.

The company is with respect from clients. The website is full and describes all the required information, options, and alternatives. This type of full content is the reason so many people trust the broker. The professionalism and accurate approach to different issues are what separates this company from many other young and initially developing trading companies. The company is a regulated service provider with a license which number is IFSC/60/191/TS/16. Also, the company has a particular individual registration number which proves that the transactions and services which these professionals offer are secure and trustworthy.

 

2.Trading information

Forex is the first option one they have. They offer fifty-one different currency pairs. The website offers various ways to sort these. Depending on the pip value for the term money starting from 1 pip and going up to 100. The pip value for the account currency is another metric, the one pip, spread Classic and PRO.

Another opportunity for trading includes CFDs. These are one of the most attractive options for private traders. The entry barrier is smaller and instead of trading and biting against the prices of the actual assets, you bit for the movement of the price. The margin here starts at 2% and goes up to 5%.

The next thing is the precious metals. In times with actively volatile markets these metals provide the security and stability, many traders are looking for. The trader has four different pairs to offer –  XAUUSD, XAGUSD, XPTUSD and the XPDUSD.

Binary options for those who don’t have a lot of experience is another option. Here each trader can pick from 14 pairs and four types of options – high/low, one touch, range and options on demand.

MQ trading signals are the way to trade by copying famous and very successful traders.

And the last option is the Bitcoin, which is a virtual currency with over a billion dollars market.

The spreads are small, and the margins are good 2% and up to 3%.

The company offers also stop order, limit order, email alerts and all the investment and trading tools. The maximum Forex leverage is 200:1 and the minimum trading size is 1. The company also does not offer Islamic accounts.

 

3.Trading platforms

As with every other big company on the market the key to the success is the wide variety of options for the clients to pick.

The company offers MetaTrader 4 which allows trading in Forex, also on the market for commodities and the CFD market. A great advantage of this platform is the chance to trade with automated systems.

MetaTrader 5 steps on where the MetaTrader 4 stops. It’s everything from the previous generation platform but improved.

Mobile trading is the new way of trading which allows mobile devices to be used. FX Choice is a company that permits the usage of mobile platforms both for Android and iOS.

A unique option for the clients of the company is the free VPS that they can have. VPS is a device which eases and improves trading and makes it safer. The only requirement is a $3000 balance in the account and five lots trading each month.

The last platform is the one specially designed for binary options which are web-based and does not require downloading. It is very easy to use.

Also, the traders can use the special service for individual account management called Myfxbook Autotrade.

 

4.Security and customer service

Safety is an important issue, and therefore, each operator tries hard as possible to improve on it. FX Choice uses SSL encryption which is a must for a website that allows trading and money transfers.

Also, any personal data is not shared with third parties and is only used inside the FX Choice to improve the content and the services.

The support comes in many languages making FX Choose one of the best-secured traders in the industry. Their support offers Arabic, Czech, English, Farsi, German, Greek, Italian, Portuguese, and Spanish. The ways to contact the company are by phone, chat, email or using a callback.

 

5.Deposit & withdraws

Making a deposit with this endeavor cannot be easier. There are many ways to do it – bank wire, Skrill, Neteller, Poli, Bitcoin, Visa, MasterCard, FSA pay, Perfect money, Paysafe card, payments. All of these technologies and services can be used. The minimum amount of deposit is $100 which is average for the industry. The deposit fee for credit cards are 4.0%, and there is no margin interest. The commissions in forex are $3.5/100k. The currencies that can be used to open an account are USD, EUR, GBP, AUD, CAD, and Bitcoin. To avoid unexpected fees, the company advices using the same currency for deposits and withdraws. These withdraw can be made using Bank Wire Transfer, Skrill, Neteller, Bitcoin, Fasapay, Perfect Money, and Payments. These withdraw usually take up to 24 hours. If the client refunds a card – debit or credit, usually it takes around 48 hours. For eWallet users, the transfers are instant but sometimes for card owners, there may be eight days for their money to come.

 

6.Deposit bonus and loyalty programs

There is only one bonus on offer with this company, and it is 15% deposit bonus. The limitation is that the bonus cannot exceed 5000 units of the currency of the account. To withdraw the bonus, each client should meet the formula $100 000:usd/2*. This method means that if the clients receive $1000 bonus, his/her turnover unit should be 500.  The gift can be lost if when the deposit is removed. All of the requirements for the bonus have no time limitation, and the client can receive the gift at any time.

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