FXChoice (FX Choice) Review 2021
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Attention!
Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.
Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:
Summary of FXChoice Trading Company
FXChoice was established in 2010. The broker is licensed by the International Financial Services Commission of Belize (IFSC) and provides quality brokerage services for active and passive trading on the Forex market. FXChoice enjoys popularity among Western traders thanks to the broker’s commitment to business integrity, focus on customers, and to high requirements for its global employees. In particular, in 2019 the broker received the LiveHelpNow’s Exceptional Customer Service award every month of the year!
We work with accounts opened exclusively through the Traders Union website.
👍 Advantages of trading with FXChoice:
- Tight market spreads (from 0.0 pips) on popular currency pairs;
- The license by IFSC, an international regulator;
- Several passive income options: partnership program, copy trading services, and MAM accounts.
👎 Disadvantages of FXChoice:
- High minimum deposit - $100;
- No cent accounts;
- Withdrawals via Visa and Mastercard debit/credit cards are not available;
- Low leverage;
- Customer support responds in English only.
Overall
FXChoice is a broker for active and passive trading that is more suitable for professional traders that have a certain amount of free funds.
Visit FXChoiceTop 3 FXChoice Customer Reviews
I use FXChoice for its low spreads and its license. In the five years of trading on Forex, I have worked with many brokers, including highly promoted ones. In reality, their “beneficial” conditions turned out to be fake: the spreads regularly expanded to 2-3 or even 5 points. In this regard, FXChoice is truly beneficial, because the spreads really do start from 0.5 pips. There have been no issues with withdrawals. The money is not accrued to the electronic wallets instantly, but it is accrued within an hour. All commissions specified on the website are real. I withdraw funds to Neteller, where there are no commissions at all.
FXChoice offers good trading conditions. The spreads and swaps are indeed low, the partnership program is beneficial and the loyalty program is good as well. Withdrawal is not very quick: wire transfers take 4-5 days. However, the broker does allow you to withdraw money, so it’s worth the wait. I’d also like to say a few good words about customer support. The operators provide quick and detailed responses. I plan to continue trading with FXChoice.
I wouldn’t say that FXChoice offers the best conditions for beginners. Maybe it is different for Western traders, I don’t know, but a $100 deposit is too high for me. The broker does not offer cent accounts, which is why you have to risk a large amount right away, whether you like it or not. There are too few permitted advisors for scalping. To copy traders with Myfxbook, a trader must have $1,000 on the account! These conditions are definitely not suitable for me, although it seems to me that the professionals will feel rather comfortable with this broker.
Comments of Facebook Users about FXChoice
The reviews by customers of the FXChoice indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXChoice published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
FxChoice is a crackerjack broker. They devote a lot of time analyzing clients’ requests and devising an appropriate solution to the problem. After six months of cooperation with FxChoice, I feel like a real ace. The main thing is to find a reliable coach, and then everything will be smooth sailing. By the way, I want to note that persistence, perseverance, and ingenuity are half the battle. The FxChoice broker explains everything perfectly and helps to train you so that you can earn your first start-up capital. I invested mine in the same strategy.
I have been working with FxChoice broker for about a year, and I worked with four other brokers prior to that, but this broker is beyond comparison. There are many positive aspects. First and foremost, not a single request was left unanswered. Spreads are not the lowest, but quite acceptable, and there are no withdrawal problems, plus its withdrawal fees are low.
For beneficial cooperation, you need a company with a reputable name, useful indicators, and a large selection of currency pairs, which FxChoice has. This is exactly why FxChoice is off to the races.
As a beginner, the training conducted by FxChoice was very helpful and now everything is clear and understandable. They have competent technical support, a large number of trading options, lightning-fast deposits, and withdrawal of funds. The main thing is to understand everything but if problems arise, do not panic because the support team is there to assist. I strongly recommend this broker to everyone.
I think FxChoice is one of the best brokers today. I conclude that it is reliable and is keen to continue improving into the future. The main thing is to correctly build a strategy, carefully study analytics, and eventually understand the market. FxChoice is an excellent broker because it provides a complete range of services, including training.
I believe that if a person knows how to trade, then he can earn a pretty penny. It has worked for me. But not everyone will be able to become a good trader immediately after training since experience is a key factor. You can achieve great success with the right approach, expertise, and dedication. The spreads are quite adequate, and the technical support is off the charts. Withdrawals are almost instant. I think it's one of the best brokers you can work with.
First of all, I would like to note the company's employees' high professionalism. When I started working with FxChoice broker, I was able to get detailed information and questions of interest and received quite useful advice on choosing a trading product. Another positive feature of the company is high-quality analytics and market overview. I was also pleased with the company's prompt feedback immediately after I had problems managing the trading platform. This is undoubtedly a huge plus for the company.
My cooperation with the FxChoice broker began not so long ago, but its impressions on me are only positive. I am an absolute beginner in trading. I started with a demo account and learned the ropes. After that, I made my first deposit, which went quickly and smoothly. Now I am trying to trade wisely. Of course, I still have to study more to further hone my skills, but this broker is a real catch.
Expert Review of FXChoice
FXChoice is committed to providing quality services for active and passive trading. For this reason, the company continuously expands its arsenal of trading instruments and services for automated trading. The customers are offered classic accounts, and professional ECN accounts with tight market spreads. The broker is licensed by IFSC, a regulator with strict rules.
The trading conditions of FXChoice are primarily suitable for experienced traders. The broker does not offer cent accounts, zero spreads, or optimal leverage for beginners. The broker provides a demo account option, but the account validity is limited to 90 days. The loyalty program with rebate and reduction of commission per lot is also designed for professional customers with high trading volumes, from $10 million.
The company’s website is localized in 8 languages. Customer support operators answer in English. For this reason, mainly Western investors use the broker’s services.
Analysis of the Main Features of the Forex Broker
Dynamics of the Popularity of FXChoice
in 2020 among the Users of the Traders Union
Investment Programs, Available Markets and Products of the Broker
FXChoice has developed conditions for active trading and passive investment. The company offers several copy trading services and also allows the use of automatic trading advisors. The broker provides an opportunity to open a MAM account, which is similar to a PAMM account, where each investor can transfer their deposit to a professional trader to manage. The profit is accrued to the investor’s account minus the manager’s fee.
The MQL5 trading signals and Myfxbook AutoTrade are services for automated trading
FXChoice aims to become a leader in online trading by providing several instruments for automatic trading. They allow investors to connect to the accounts of more experienced traders and copy their trades without personal involvement. If a trader is successful, the investor pays the trader a predetermined fee out of his profit. The company’s VPS server is compatible with most copy-trading services. The broker offers the following:
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MQL5 Signals — a service for instant copying of signals via the MT4 platform. The subscription for the chosen supplier is set for the duration of one month. The subscribers pay a fixed fee once a month or once a week;
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Myfxbook AutoTrade — a service that allows you to copy trades of the most successful traders, with their rating published on the Myfxbook website. The service is available on MT4 and MT5 for trading accounts with a minimum balance of USD 1,000;
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Expert Advisors (EAs) — a robotized trading program for automatic trading on MT4. There are versions of the program designed for scalping and also for short and medium-term strategies.
Automatic trading systems provide an opportunity for traders with all levels of experience to trade automatically. Automated trading is suitable not only for novice traders on Forex but also for busy customers who do not have the time or desire to trade independently. A broker’s customer can connect the services either in the trader’s personal account or directly on the trading platform.
If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
FXChoice affiliate programs:
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Refer-and-Earn Plan – you can earn a USD 25 bonus for each $100 deposited by the referred customers once they reach the required volume of USD 200,000 turnover. The maximum bonus is USD 250 once the customer reaches $2,000,000. Additionally, each referral will receive a one-time 15% deposit bonus.
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Affiliate — up to 50% of spread amount on all currency pairs per each referred trader;
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Multi-Account Management (MAM) — allows competent traders to manage funds of less experienced traders for a specific fee. The fee amount depends on the account effectiveness and the country of the partner’s account registration.
These programs allow partners to build their own referral network by introducing new active traders and to receive a reward from the broker for that. The amount of the reward is discussed with each partner individually.
Rebate and Discount Programs of the Traders Union for FXChoice
Partnership with the Traders Union rebate service will help you substantially reduce trading expenses. Traders Union compensates traders who opened a trading account with the broker by using the Union’s referral link. Therefore, the rebates for FXChoice are available only for the Traders Union’s customers, who opened the account via the Union’s website. If the account is opened without the use of the Traders Union’s partnership link, FXChoice customers will not be eligible to receive compensation for the spread from the Union.
Try it! You’ll like this!Trading Conditions for FXChoice Users
USD 100
Minimum
deposit
1:200
Leverage
24/5
Support
| Trading platform: | МТ4, MT5 |
| Accounts: | Demo, Classic, Pro |
| Account currency: | USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, BitcoinCash, Litecoin, Ethereum, XRP |
| Replenishment / Withdrawal: | Wire transfer, Visa/Mastercard debit/credit cards (only deposits), Skrill, Neteller, Paysafe, SafetyPay, Perfect Money, BitcoinCash, Litecoin, Ripple, Tether, FasaPay, Perfect Money, AstroPay, Poli, Airtm, VLOAD, STICPAY, AdvCash, and EPAY |
| Minimum deposit: | USD 100 |
| Leverage: | 1:200 |
| PAMM-accounts: | No |
| Min Order: | 0.01 lots |
| Spread: | from 0.0 pips (Pro), from 0.5 pips (Classic) |
| Instruments: | Currency pairs, cryptocurrency, CFDs on stocks, commodities, metals, and energies |
| Margin call/Stop Out: | 25-100% / 15-80% |
| Liquidity provider: | Mostly European banks |
| Mobile trading: | Yes |
| Affiliate program: | Yes |
| Orders execution: | Market Execution, NDD |
| Trading features: | MAM accounts |
| Contests and bonuses: | 15% deposit bonus on deposits in BTC, rebate, commission reduction per lot |
Comparison of FXChoice with other Brokers
| FXChoice | FxPro | XM Group | Admiral Markets UK | AvaTrade | |
| Trading platform |
MT4, MT5, Webterminal | MT4, MobileTrading, MT5, cTrader | MT4, MT5, MobileTrading | MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition | MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option |
| Min deposit | $100 | $100 | $5 | $200 | $100 |
| Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
From 1:25 to 1:500 |
From 1:200 to 1:400 |
| Trust management | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No |
| Spread | From 0 points | From 1 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
25% / 15% | 25% / 20% | 100% / 50% | 100% / 30% | 25% / 10% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution | Instant Execution |
| No deposit bonus | No | No | $30 | No | No |
| Cent accounts | No | No | Yes | No | Yes |
Broker comparison table of trading instruments
| FXChoice | FxPro | XM Group | Admiral Markets UK | AvaTrade | |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | No | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| indexes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | No | Yes | Yes | Yes |
| ETF | No | Yes | No | Yes | Yes |
| Options | No | Yes | No | No | Yes |
Commissions & Fees FXChoice
Traders Union analysts have thoroughly reviewed the trading conditions of FXChoice to uncover clear and hidden commissions. The information about all commissions and fees is publicly available on the broker’s website. A deposit fee for deposits via a wire trader is 0.25% (min EUR 150); Perfect Money and FasaPay — 0.5%; Skrill — 1%; and VLOAD — 3.5%. On the Pro Account, the broker charges a $3.5 commission per side per notional amount of $100,000 (1 lot).
| Account type | Spread (minimum value) | Withdrawal commission |
| Classic | from $5 | No |
| Pro | from $5 | Charged in certain situations |
Swaps are charged (a commission for rollover of the position to the following day). For your convenience, we also compared trading commissions of FXChoice with similar indicators of its competitors, with each broker assigned a corresponding level. The results of the comparison are provided in the table below.
| Broker | Average commission | Level |
| FXChoice | $5 | Low |
| FxPro | $13.2 | High |
| RoboForex | $6.55 | Medium |
FXChoice offers rather tight spreads, but their value can expand considerably at the moment of the volatility of trading instruments and publication of important news.
Detailed Review of FXChoice
FXChoice is a regulated broker, which employs SSL (Secure Socket Layer) technology to guarantee transparency and security of all transactions for its customers. The company offers NDD order execution technology, highly professional customer support, and ensures the security of customer funds. Upon the customer’s request, the broker provides its own virtual VPS server to ensure continuous online trading. The funds of registered traders are kept in segregated accounts.
These are several key figures about FXChoice that are published on the broker’s official website:
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2010 is the year the broker began its operation;
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150,000 digital transactions per day;
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202 educational articles contained in the Knowledge Base.
FXChoice is a well-suited broker for active and passive investment.
FXChoice is an international broker offering access to 39 trading currencies, cryptocurrency pairs, precious metals, and CFDs. The company’s customers can open Classic and Pro accounts with a floating spread that averages 0.5 pips. There is an opportunity to work directly with the liquidity providers from private or corporate accounts. Regarding passive income, the broker offers copy trading services and several options of the partnership program. Different strategies are allowed, including hedging and scalping, as well as trading advisors and automatic signals.
Traders who opened a Classic account with FXChoice can only use the MetaTrader 4 platform. Traders with a Pro account can choose between MT4 and MT5. Both platforms are available in desktop, mobile, and web versions which are compatible with most popular browsers, including Internet Explorer, Microsoft Edge, Mozilla Firefox, Google Chrome, Safari, and Opera.
Useful services offered by FXChoice:
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Web terminal. The browser versions MT4 and MT5 are available. It is not necessary to download and install either on your PC or mobile device;
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Market Watch. Shows latest currency quotes;
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Contract specification. Shows the spread and commission per lot (for Pro account) in real-time mode.
Advantages:
Licensed by IFSC, the International Financial Services Commission of Belize;
Typical tight spread on popular currency pairs;
Possibility to trade via popular MetaTrader 4 and MetaTrader 5 platforms. Availability of mobile and web versions of the platforms;
Algorithmic trading is allowed: use of advisors, MQL5 signals, and copy trading services;
Options for passive income without independent trading;
Several types of partnership programs and rebates.
There are no restrictions on the use of trading strategies. The broker does not have any requirements for the minimum period of holding trades open in the market.
How to Start Making Profits — Guide for Traders
FXChoice offers two types of live accounts – Classic and Pro. They differ by the spread, Margin call/Stop out value, and whether the commission per lot is charged or not.
Account types:
Before opening a live account, you can test the broker's conditions and functions on its trading platforms by using a demo account.
FXChoice offers conditions that are more suitable for professional traders. The broker has a rather high minimum deposit and does not offer cent accounts.
Bonuses Paid by the Broker
15% bonus
15% bonus on deposits in BTC.
Bonuses from FXChoice
Bonuses from FXChoice are 15% on the deposit amount.
Pips+
Pips+ provides rebates from $5 to $20 (for Classic) and reduction of standard fee from $35 (per $1 million traded) to $30-$15 (for Pro).
Bonuses from Traders Union
To receive a bonus from Traders Union, a trader needs to open a trading account with the broker using the Union’s referral link. After you start trading on Forex, the TU will partially compensate you based on the spread charged by the broker. The rebate does not depend on the results of the trade and is paid per each completed transaction, even if it was unprofitable. If the account with the broker was opened otherwise, the trader will not receive the Traders Union bonus. Here you will find detailed instructions about how to link your FXChoice trading account with the Traders Union account.
Investment Education Online
There is an extensive FAQs section on the broker’s website to help the trader become more knowledgeable. It contains all information a trader may require to start working with a broker. In the Knowledge Base, a novice trader on the Forex market can find a theory course with basic notions on the Forex and CFD.
A free demo account allows traders to test each of the listed instruments.
Security (Protection for Investors)
The operation of FXChoice is regulated by the International Financial Services Commission of Belize (license number 000067/96).
The IFSC is a government agency of Belize that is guided by the laws that control the financial transactions of its licensees. After issuing the license, IFSC strictly controls whether all the requirements are observed. Also, FXChoice operates in compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act.
👍 Advantages
- Customer funds are kept in segregated accounts away from the broker’s equity
- Negative balance protection
- Full control over the broker’s activity by the state
👎 Disadvantages
- The regulator does not consider claims of private traders with small amounts
Withdrawal Options and Fees
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Withdrawal requests received during operating hours are processed on the same day. In case the request is received during non-operating hours, it is processed on the following working day.
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Requests for withdrawal of cryptocurrencies submitted during the operating hours are processed within 1-3 days.
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The following are available for withdrawals: wire transfer, Skrill, Neteller, Perfect Money, BitcoinCash, Litecoin, Ripple, Tether, FasaPay, Airtm, VLOAD, STICPAY, AdvCash, EPAY. Withdrawals to Visa/Mastercard cards are not available.
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The minimum amount to make a wire transfer is EUR 1,000 (or an equivalent). There is no limit on withdrawals via electronic payment systems.
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Withdrawals to electronic systems take from 1 minute to 24 hours; cryptocurrency wallets take from 30 minutes to 2 hours. The transfer of funds to a bank account takes up to 5 business days.
Customer Support Service
The broker’s customer support responds to customer inquiries 24 hours a day, 5 days a week.
👍 Advantages
- Online chat and support by phone
- Multi-language support
👎 Disadvantages
- Does not operate on the weekends
Methods of contacting customer support:
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By phone numbers, as specified on the website;
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By email;
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Online chat on the broker’s website;
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Feedback form.
Customer support is available on the broker’s website and in the personal account.
Contacts
| Registration address | Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City |
| Regulation |
IFSC Licence number: 000067/96 |
| Contacts |
Email:
[email protected],
Phone: +52 558 526 80 32, + 501 227 27 32 |
Review of the Personal Cabinet of FXChoice
To open a live trading account and start earning on Forex, you need to take the following steps:
Go to the broker’s official website and press Register on the Home Page.
Enter your name and email address and come up with a secure password. After authorization in the system, you need to select the account type and currency. Access Backoffice and select Verify Your Profile on the orange banner or select Verify Your Profile in the menu on the left side of the screen. To complete the process, you need to upload scanned copies of your documents.
The following features are available in your personal account:
Other features of the personal account include:
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Services. Includes access to trading platforms, including Myfxbook Autotrade, an automated trading service, and browser version of Metatrader 4 and Metatrader 5 platforms;
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Pips+. Includes loyalty program statistics;
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Economic calendar;
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Messages. Used for quick communication with customer support and other traders who are currently trading online.
Tags:
FXChoice fxchoice fx choice fxchoice com myfxchoice com myfxchoice.com my fxchoice comThe Oldest Reviews of the FXChoice
The reviews by customers of the FXChoice indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXChoice published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
FxChoice is the number one collaboration broker. The company is constantly improving its services. At the moment, I think there are no better trading conditions on the Forex market. This brokerage company is priceworthy and legit. When I was starting and had no experience in trading, no one tried to tell me a white lie and deceive me. It was quite the opposite, and the manager constantly explained all the nuances of trading and strategy.
I have been working with FxChoice for two years. I like learning something new and improving my trading skills. Arguably, it's one of the most reliable brokers in the Forex market. The offered trading conditions are transparent and accessible to everyone. Also, the broker does not stand still and earns its clients’ trust by helping them with various services. Regarding the withdrawal of funds, everything is runs like a clock.
You can make money just by learning tactics and strategies. You can withdraw funds to almost any wallet, which is pretty convenient. The minimum deposit amount will please you. So I advise you to kick the tires and cooperate with FxChoice.
I have been cooperating with this Forex broker for over five years. I have almost 100% confidence in this broker's reliability. So if you are looking for a trusted broker, then I advise you to take a closer look at this option.
When choosing a broker, I was guided by the parameters that would reflect its high degree of reliability while realizing that my profit would depend on the correct choice. FxChoice has established itself in the Forex market as a reliable and stable company with great potential and loyal relationships with partners. I want to note the excellent software, the level of which can be checked on a demo account. Cooperation with this company has allowed me to increase my annual income significantly.
To cut to the chase, FxChoice is one of the top-caliber brokers I've ever cooperated with. FxChoice is a reliable broker that is honest with its clients. Working with this company, I have only positive emotions. Many people consider Forex trading a risky business, but after I mastered the trading nuances, I now have tangible income. The trading conditions are quite satisfactory. Recently, I have become extremely interested in wider investment opportunities. Trading on a real account, I experienced no disappointments in the terminal's reliability or the operation of the entire system as a whole. I recommend it to everyone. FxChoice is one of the few brokers who are completely engaged in providing the best Forex trading services.
I came to FxChoice at the invitation of a friend, and it wasn't the first broker I have worked with. I noted that FxChoice offers the most favorable terms on the market. The company has low spreads and a small commission for withdrawing funds, so I am one happy camper. In my opinion, this is one of the best brokers. I can say that the broker is suitable for both experienced traders and a beginner who is making baby steps in trading.
FxChoice is a reliable, proven, trustworthy broker that I have been working with for over three years. Simple replenishment and easy withdrawal of funds, prompt and accurate execution of transactions, and up-to-date analytics are the main components of a successful partnership with this broker.
For four months of active trading, not a single problem has arisen. The withdrawal of money is timely. In light of this, I am very pleased with my choice. It's an excellent Forex broker that runs like a Swiss watch. On top of that, they provide good support for their clients.
I have been trading for three years. I've never noticed any problems, and everything is at the highest level. During three years of trading, there have never been any problems with the withdrawal of funds. FxChoice has extremely low spreads, low withdrawal fees, and high reliability. It has become crystal clear that this company is aimed only at long-term cooperation. I highly recommend this fabulous company!
Author of this Review
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FAQs
Do reviews by traders influence the FXChoice rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FXChoice you need to go to the broker's profile.
How to leave a review about FXChoice on the Traders Union website?
To leave a review about FXChoice, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about FXChoice on a non-Traders Union client?
Anyone can leave feedback about FXChoice on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
Why is it more profitable to work with FXChoice through Traders Union?
Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.
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