Brief Look at FXChoice
FXChoice officially suspended all trading services in December 2023, citing the need to reevaluate its offerings in what it described as a “rapidly evolving brokerage landscape”. While the broker stopped accepting new clients, existing users were still able to access their accounts to perform limited actions, including fund withdrawals.
At the same time, the Financial Services Commission (FSC) of Belize, which served as FXChoice’s licensing authority, prohibited the company from conducting cryptocurrency-related operations. As a result, beginning December 12, 2023, it was no longer possible to deposit or withdraw crypto assets through the platform. Clients were advised to withdraw any remaining funds by December 26, after which all crypto services were permanently discontinued.
Across trading forums and review sites, users frequently reported issues with deposits, withdrawals, and customer support. Some reviewers claimed that trading had been unavailable for extended periods or was conducted in a non-transparent manner. This led many clients to migrate to other brokers. Complaints dating back to 2021 also described canceled profits under questionable circumstances, often involving claims of trading rule violations without clear justification or supporting documentation.
At present, FXChoice is no longer operational. Its closure stems from a combination of strategic suspension of services, regulatory restrictions on crypto activities, and ongoing concerns about service quality and client fund access.
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