FXChoice Review

Category: Reviews | Author: Trading Brokers | Date: November 17, 2022

Launched in 2010, FXChoice is an online broker where you can trade CFDs on plenty of instruments including Forex, Stocks, Commodities and Cryptos. They provide you with the powerful yet easy to use MetaTrader 4/5 platforms for desktop, web and as mobile apps. These platforms are very intuitive, making them suitable for all levels of trader. You can choose from a good range of account types and convenient funding options. I found the broker to have very competitive trading conditions including tight spreads from just 0.0 pips, low commission fees and quick trade execution speeds. I like that they don’t impose any restrictions on your trading strategies and have the option of flexible leverage that goes up to 1:200. This is all backed by award-winning 24/5 support who have always been quick to respond to my queries. I have held an account with them for many years now and have yet to have any issues. I have seen them continue to grow as a company in an industry where so many others have come and gone.

Pros & Cons

  • User-friendly trading platforms for web, desktop and mobile
  • Low spreads, low fees and rapid trade execution speeds
  • Lots of instruments to trade including forex and cryptos
  • Hedging, scalping and expert advisors (EAs) allowed
  • Good choice of quick and easy funding options
  • Commission free accounts are available
  • Electronic communication network (ECN)
  • Non-dealing desk (NDD) so no conflict of interest
  • Pips+ Programme for reduced commission & rebates
  • Trading signals via third-party providers
  • MAM accounts for investors & money managers
  • Free VPS for qualifying clients
  • Free demo trading accounts
  • Islamic accounts for Muslim traders
  • Award-winning customer support
  • Minimum $100 deposit
  • Demo accounts expire after 90 days
  • Only regulated in Belize


Launched in 2010, FXChoice is a true electronic communication network (ECN) broker that offers traders across the globe competitive fees and good trading conditions on multiple assets across a wide range of markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. Whatever your interests, there is something for everyone to trade. The broker executes a trade every 4 seconds on average with daily transaction totalling over 15,000. They are always looking to further improve trading conditions by incorporating new technology to ensure you always get the best spreads and fastest execution speeds.

I appreciate how they are committed to providing ethical business practices, a safe and reliable trading environment with excellent customer service to give clients a trusted and transparent trading experience. This is backed by non-dealing desk (NDD) technology so there is no conflict of interest and dedicated security for funds. I would always prefer to use an NDD/ECN brokerage firm as I won’t be trading against them and can get access to some of the best trading conditions for all of my strategies.

FXChoice have won awards for their friendly and multi-lingual customer service. You are made to feel welcome, with no question too big or small and a dedicated support team on hand to assist you in the best possible way. Online reviews are very positive overall with good feedback from multiple respected sources. I have always had a good experience with them over the years, with no deposit or withdrawal issues and support whenever I have needed it.

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Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


The FXChoice brand is part of FX Choice Limited who are authorised and regulated by the Financial Services Commission of Belize (FSC). With this offshore regulation, clients may not have the same protection in the event of any disputes or insolvency as they would with a broker who is regulated by a top-tier regulator. However, it doesn’t really bother me and I appreciate that it means the broker can provide certain products and services that a brokerage firm under another regulator may not be able to. If you would prefer a top-tier regulator then you may want to take a look at AvaTrade instead.


I am also confident as they hold client funds in segregated accounts that are separate from their own company accounts and can therefore not be used for any other purpose. There is an internal risk management team who monitors management operations to ensure that they comply with regulatory policies.

They have a no debit balance guarantee which means that your trades will automatically be closed before your account balance becomes negative. Should this safety mechanism not work due to extraordinary circumstances, they claim to zero your account balance. This is something that even some top-tier regulated brokers do not provide so it helps them stand out from the competition.


Due to offshore regulations, the broker is able to accept clients from most countries. However, they do not accept clients from Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, Syrian Arab Republic, Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, United States Minor Outlying Islands and American Samoa. If your country is not accepted, please feel free to browse our broker ratings for an alternative.


FXChoice provide you with some of the best trading platforms for Forex and CFD trading – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These are both excellent platforms that give the average retail trader quick and easy access to trade the markets. I have been using MT4 for many years and it does more than enough to meet my needs. It is provided by most brokers compared to MT5 which has not quite met the same level of popularity as of yet. However, MT5 does have some additional features and functionalities whilst it is considered to be more of a stock trading platform. MT4 on the other hand should be more than sufficient if you just want to trade forex. I personally don’t think you can go wrong with either platform as they have more than enough tools to deliver an enjoyable trading experience.

MetaTrader 4 (MT4)

MT4 was developed by trading software company MetaQuotes and has won multiple awards. The FXChoice version of MT4 combines the platforms standard features with real-time price feeds from global markets, fast execution speeds, competitive conditions and interbank liquidity. The platform is suitable for all levels of trader. It has a user-friendly interface and multiple built in tutorials for beginners whilst having a great range of technical indicators and functions for the more advanced traders. The tools include technical indicators for analysing charts, multiple chart time frames, multiple order types, strategy templates, automated trading via expert advisors (EAs), custom indicators and much more.

MetaTrader 4 (MT4)

MetaTrader 4 (MT4)

The FXChoice website includes videos with useful tips on how to use the platform. It is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). I use the desktop version to run automated systems as it is the only one that supports expert advisors (EAs). The mobile app is great for me to check my positions from anywhere at any time. The web version of the platform is also very good as it can run in any web browser on any device, whilst always being up to date. You can access your account seamlessly across all versions of the platform.

MetaTrader 5 (MT5)

MT5 is not just a new version of MT4, but rather a completely new platform with new features that build upon the success of MT4. For those familiar with MT4, the most important features are still there with a few more to enhance the overall trading experience. The MT5 features include more order types, depth of market display, additional indicators, additional time frames and a powerful EA testing environment with real tick data. just like MT4, it is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

MetaTrader 5 (MT5)

MetaTrader 5 (MT5)

MetaTrader Mobile

FXChoice offer both MT4 & MT5 platforms for mobile trading which is useful for those who need to trade on the go whilst away from their computer. You can access the platforms on your Android or iOS device to follow the markets and manage your positions. The MetaTrader apps are available free to download from the relevant app store. I use the apps all of the time to check my positions from the sofa, bed or whilst travelling around. It is great to be able to take the markets with you in your pocket.

MetaTrader Mobile App

MetaTrader Mobile App

Web Terminal (MT4 & MT5)

The Web Terminal, available for both MT4 and MT5 users, allows you to trade via a browser without the need for downloading and installing any software. You can trade directly from your FXChoice account in your preferred browser, saving time and hard drive space. You simply log in to your account and start trading via the web terminal. The web platform’s interface is similar to the award-winning desktop version and is therefore just as easy to use. I like how it is always up to date and means I can use a friend or relatives’ computer if I do not have my own handy.

The following functions are available in the Web Terminal:

  • All trading operations: placing market and pending orders
  • One-click trading (MT5 Web Terminal only)
  • Real-time quotes displayed in the Market Watch
  • Fully customisable price charts
  • 9 chart time frames
  • Basic analytical objects: horizontal, vertical and trend line, channels and Fibonacci lines
  • Universal access to trading activity

The web terminal is supported on lots of browsers, including Internet Explorer, Microsoft Edge, Mozilla Firefox, Google Chrome, Safari & Opera.

Web Terminal (MT4 & MT5)

Web Terminal (MT4 & MT5)


FXChoice have a good variety of third-party tools that can be used if you are looking for flexibility and assistance with your trading activities. The MT4/MT5 platforms should have enough tools for most traders, not to mention you can get thousands of free and paid add-ons for them. If you do want industry leading market analysis software, then you might want to take a look at Forex.com who have the brilliant Autochartist and Trading Central tools.

Some of the additional tools made available through the broker are automated and will copy signals from other traders. This can be useful if you do not have the time or knowledge to trade by yourself. It is imperative that you understand the risks involved with trading and do not take historical performance as a reference for future results. I actually prefer to do my own market analysis as I like to know when and why each position was taken whilst remaining in control of all my trades.

MQL5 Signals

MetaQuotes, the developers of the MetaTrader 4 & 5 platforms, offer a unique trading signal service which allows clients to copy the trades of other signal providers. You may also offer your own trading signals through this service. The signal service is built into the MetaTrader platforms and requires no additional third-party software installation. Signals can be used as they are or alongside your own manual and automated trading systems. There is a large base of signal providers to choose from for a weekly or monthly fee and trades are copied directly to your platform. The brokers website contains an easy to follow and well explained tutorial video showing how to subscribe to the signals.

MQL5 Signals

MQL5 Signals

Myfxbook Autotrade Service

This service allows you to copy signals of traders who have their accounts published on the popular social trading website Myfxbook. You can browse through the different accounts, review performances and choose to mirror the trades of any account without any additional software required. In order to be able to use the Myfxbook service, your FXChoice account must be funded with at least $1,000. I think it would be better if they made this feature available to all clients regardless of your investment size. If it is something that you think would be useful, you can also access it through other brokers such as FXOpen.

MyFxBook AutoTrade

MyFxBook AutoTrade

FXChoice VPS

FXChoice have their very own VPS (Virtual Private Server). A VPS is your own dedicated source of stable power and resources that allows you to run your trading platform 24/7. This can be useful if it is not possible to have your computer on all the time and you wish to run an automated system. It is also useful for potentially reducing latency by using a VPS located nearer the trade servers, which can increase execution speeds. If you have a balance of $3,000 or more and trade at least 5 lots during each monthly billing cycle then you can claim a free VPS. The VPS comes with MetaTrader pre-installed which is great. I run multiple instances of MT4 on my VPS as I am testing expert advisors on various brokers. If you want a free VPS, then Blueberry Markets are another option.

Live Economic Calendar

The economic calendar keeps you up to date with the latest market news events that are taking place. You can set the calendar to your own time zone and indicate your country and sector preferences to only see news relevant to you. Using the news calendar can help with fundamental analysis and making informed trading decisions. The service is free to clients and available from within the FXChoice back office. I think the calendar is a vital trading tool and I would always check it before making a move. There is actually one implemented within the MT5 platform which is more easily accessible.

Pips+ Programme

The Pips+ programme is a way for active traders to reduce their trading costs. The programme consists of five tiers and all MT4 & MT5 Pro account holders are automatically enrolled. I really like this feature and think it helps them to differentiate from many other brokers.

As you work your way up the tiers, the trading commissions decrease. To upgrade through the tiers, clients can increase trading volume or deposit more equity. I think it is fantastic that the broker rewards you for your loyalty with cheaper trading costs. This is not something that every broker does. If you are using another broker and trading lots of volume, you can always reach out to them and ask for lower fees. Some might not advertise this but would still be open to it.

Expert Advisors (EAs)

The broker has a decent selection of handpicked expert advisors that you can choose form. An expert advisor, or EA for short, is an automated trading system that can place buy and sell trades on behalf of the user and manage open positions. I have used them for years and even developed my own in the MQL language for the MT4/MT5 platforms. One of the main advantages of EA’s are that they can analyse the markets and manage trades for you whilst you go about your day.


FXChoice have a generous amount of learning resources which helps emphasise the fact that they care about their clients and support informed trading decisions. There are trading guides and live webinars. There are also some FAQs covering general questions and some basic market and platform questions. I have seen them add more and more content over the years and managed to learn a thing or do whilst browsing through. If you are a beginner then I think you will find this content very helpful and it is nice to have everything in one place. The more experienced traders will probably not learn anything they don’t already know in terms of education, but the market analysis aspect is very insightful to what is happening around the markets now.

FXEducation Hub

There is an FX education hub that is dedicated to helping you improve your knowledge of the markets and trading skills. In this section, you will find eight chapters that cover everything from the basics of trading online to trading strategies and market analysis. Following through each chapter can help give you a strong foundation in preparation for trading the markets. You can work through each section in your own time.


FXChoice host a live webinar each Monday for registered users which covers some of the markets events that are coming up for the week ahead. The webinars cover technical analysis, market news and are hosted by a fund manager with more than 40 years of experience in the industry.


I found there to be a wide variety of Forex and CFD instruments available to trade, catering for all different types of trader. You can choose from popular currency pairs, trending cryptos, individual stocks and major stock indices. If you are looking to trade stocks then you might want to look at another broker such as TMGM who have plenty of stock instruments.

Forex CFDs

The Forex market is the world’s largest financial market, with over $4 trillion passing through it every day. This large volume brings about liquidity and flexibility for a trader’s strategy. There are over 35+ major, minor and exotic FX currency pairs to trade forex through FXChoice. This includes the popular EURUSD, GBPUSD, USDCHF & USDJPY currency crosses.

Crypto CFDs

Cryptos are online currencies based on complex mathematical algorithms that have continued to increase in popularity over recent years. Trading Crypto CFDs allow an investor to speculate on them without actually directly owning them. As they are decentralised, Cryptos are independent from government interference. FXChoice offer some of the most popular Cryptos, including Bitcoin (BTC) and Ethereum (ETH).

Indices CFDs

Index CFDs are often seen as a way to diversify a portfolio because rather than investing in one company, you are investing in multiple companies throughout a specific market sector. FXChoice offer index CFDs on USTECHIndex, US500Index, US30Index, UK100Index, JAPANIndex, DXY, DE30Index.

Commodity CFDs

Commodity CFDs allow you to speculate on a commodity such as precious metals (gold, silver), energies (oil, gas), without actually having to own the underlying asset. These are often considered as safe havens and included as part of a diversified portfolio.


FXChoice have two main account types, the classic and the pro. If you wish to use MT5 and have all trading instruments, you will need to open a pro account. The account type that you opt for will probably depend on your trading strategy. You can choose from low spreads and a commission fee, or no commission fee but a spread mark-up instead. If you are holding positions for the long term, I don’t think it will make a great difference. However, if you are day trading and taking multiple positions, you will probably need the lowest spreads possible.

MT4 Classic Account

The classic account has commission built into the spreads, which start from 0.5 pips. Spreads will tend to be higher due to the account being commission free, but this can help simplify calculating trading costs. Minimum deposit required is $100, minimum lot size 0.01, maximum lot size 1000 lots, leverage up to 1:200, hedging/scalping/EAs allowed.

MT4/5 Pro Account

The pro account charges an additional commission up to $3.5 on top of the spreads which come from direct market liquidity provided by some of the largest banking institutions in the world. Spreads will tend to be significantly tighter than on the classic account and start from just 0 pips. If your strategy requires tight spreads this may be your account of choice.

Another distinguishing feature of the pro account is that they boast a significantly wider selection of tradable instruments. Minimum deposit required is $100, minimum lot size 0.01, maximum lot size 1000 lots, leverage up to 1:200, hedging/scalping/EAs allowed.

Multi-Account Management (MAM) Account

FXChoice provide a MAM service to experienced traders who have their own client base and wish to trade on their behalf. A MAM account is a propriety account that enables competent traders to manage funds for an incentive fee that is dependant on the account’s performance. You can submit the application on the website if you wish to apply for the MAM account. Other MAM brokers to consider include FXGiants.

Demo Trading Account

If you want to practice trading online before committing real funds, there is the option of opening an FXChoice demo account. This account is completely free and comes preloaded with virtual funds so that you can practice your trading strategies risk free. It can be a great way to familiarise yourself with the brokers platforms whilst building the confidence and skills needed for successful trading.

Account Signup

Opening an account with FXChoice is a quick and easy process. You simply complete the short online form and verify your email address. Following on from that you will need to submit some form of identification such as a passport scan and proof of residential address such as a utility bill. Once your account has been approved, you can make a deposit and commence trading.


Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email. FXChoice won the best customer service challenge award from the LiveHelpNow Challenge which ranks the top 100 providers of superior customer service. These rankings are data-driven, based on metrics provided daily to client dashboards. Measured against 12 unique values, Challenge winners are amongst some of the best customer service providers in their field. The achievement reflects the professionalism, skill, care and constant endeavour to provide better customer service. This is what defines companies who rank among the top 100 in a global field of more than 10,000 businesses. I can back this up as I have always received excellent support over the years that I have held my account with them.


The broker has several convenient ways for you to make deposits and withdrawals, focused on making it as easy and flexible as possible. The method you choose may depend on how long it takes to process. If you want something quick then you may consider an online payment processor such as Skrill or Neteller. I prefer digital wallets as my funds clear faster which is important if I need to quickly act on some market news. In this instance, I wouldn’t want to be waiting days for my funds to arrive. They are one of a few brokers that support crypto payments if you are looking for anonymity. However, the blockchain fee is quite high and it is not the fasted method based on my experience.

The minimum deposit for all account types is $100 or the equivalent in another currency. This is generally quite low compared to other brokers. If it is too much for you, then Fusion Markets have a $1 minimum deposit requirement. Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant. Please note that some methods may only be available to specific countries.

Accounts can be opened in a good selection of currencies including USD, EUR, GBP, CHF, AUD, CAD, Gold and Bitcoin. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. The broker uses advanced encryption technology to help guarantee your privacy and security when transactions are being processed. All communication data is encrypted using SSL technology (Secure Socket Layer).


Overall, I like that FXChoice is an established and transparent online broker that is authorised and regulated, offering competitive trading conditions such as tight spreads from as low as 0 pips, rapid trade execution speeds, low commission fees and flexible leverage to clients across the globe. The brokers minimum deposit, user-friendly trading platforms and range of payment options offered make them accessible to all levels of traders. There are limited trading guides tutorials for beginners along with free demo accounts if you want to try the broker out without any risk. I think they have a good range of instruments to trade including forex, stocks and cryptos. I have always received excellent customer support from them and never had an issue with my account. However, some of you may prefer a broker with top-tier regulation instead. if this is the case, you could take a look at City Index as an alternative.

FXChoice Logo


Launched in 2010, FXChoice is a regulated online broker that offers user-friendly platforms for trading CFDs with tight spreads, low fees, rapid execution speeds, flexible leverage and various funding options.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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