FX Choice MyFxChoice.com forex broker review

FX Choice real time & average spread

Real time spread
N/A
Average spread
For the last hour
Min spread
N/A
Max spread
N/A
Swap long: n/a
Swap short: n/a
Stop/Limit level: n/a
FX Choice Review & Rating |  MyFxChoice.com forex broker

FxChoice Headquarters: 
21 Regent Street, P.O. Box 1814, Belize City

Country: Belize

Regulation: N/A

Website: MyFxChoice.com

Trader's rate 3.8
Editor's rate 3.8
6 reviews

FXChoice MT4 Standard Account:

minimum deposit: $100

minimum lot size: 1k (micro lot)

maximum leverage: 1:200

variable spreads starting from 0.5 pip

 

FXChoice MT4 Pro (ECN) Account:

minimum deposit: $100

minimum lot size: 1k (micro lot)

maximum leverage: 1:200

variable spreads starting from 0.5 pip

 

Dealing:

NDD Market Maker

 

Spread:

Variable spreads starting from 0.5 pip

 

Deposit

Bank Wire, Credit card,  Skrill (MoneyBookers), Liberty Reserve, Webmoney 

 

Withdraw

Bank Wire, Skrill (MoneyBookers), Liberty Reserve, Webmoney 

 

Platform: Metatrader 4 (MT4)

 

Forex VPS

Free for customers with equity of $3,000 or more at the end of the billing period

 

Website: MyFxChoice.com


What we think about FX Choice

We spend a lot of time chatting to the customer support reps of different brokers – and we have pretty much seen it all. While generally helpful, online support guys (and gals) are usually replying slowly, leaving us wondering if they are chatting to at least 17 people at the same time. This is not the case with FX Choice – whenever we talk to their people, we get answers right away, on the spot, which is pretty awesome. 

 
In terms of trading, FX Choice offers excellent conditions: both the standard and ECN account types (named Classic and Pro respectively) come with tight variable spreads – the typical spread on EUR/USD for example is 0.5 pips – however these may widen significantly depending on market conditions. If you sign up for an ECN account, you would also need to factor in the commission of $3.5 per side per lot. The execution is NDD and super fast, so you won't have to worry about slippage – although the broker practices positive price correction.
 
If you employ hedging in your trading strategy, you will be pleased to know that FX Choice doesn't require an additional margin for hedged positions.  
 
The minimum deposit you need to make in order to open an account is $100 – for both the Standard and Pro account types, which is rare – most brokers ask for much higher initial investments for ECN accounts.  
 
The platform you can trade with is Metatrader 4 (MT4) with all its goodness, such as Expert Advisors for example. Traders with equity of $3,000 or more qualify for free VPS. 
 
There are two things that we are not crazy about with FX Choice: its educational resources and its regulation. The section dedicated to new traders learning forex is so limited that it's practically useless so if you are a beginner, you may want to search for tips and tricks elsewhere. 
 
As far as regulation is concerned, well – there is none. The broker is registered in Belize, where there is quite the liberal view on overseeing broker operations. The silver lining is that customer money is kept in segregated accounts. 
 
Applications from U.S. traders are not accepted.
Latest news about FX Choice

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for FX Choice Add review

Honesty and withdrawal review on www.myfxchoice.com

Good honest broker! I have an account with www.myfxchoice.com through recommendation of a friend. I`ve made a deposit without uploading my account and my account was still not active because I got caught up in not doing anything with Forex Trading for a long time. I`ve heard that there are a lot of brokers who just would keep your money and betray you. I got scared. Later on I requested to withdrawal my deposited money, because I needed it at that point in time, with no hesitation I got my money returned from them!!! Very good and honest broker :-) When I do Forex again, I will chose them. Only 4 Stars because I admit that I haven´t traded at all yet....

Angela Breeker 10/17/2012

I recommend them Broker

I joined this broker a few months ago. The staff is very helpful and friendly, in my case it was time consuming for them since I had lots of questions.I have just invested $210 through wiretransfer. After 6 weeks I`ve made some profit and wanted to withdraw, just to test them. I got my money back within 4 days. I chose this broker because of recommendation of friends. Lucky me, they have more currency possiblities for the account than it is shown in the dropdown menue. Ok guys, I can recommend FXChoice, enjoy your days! Courntey

Courtney 10/16/2012

Honest and awesome Broker

Hi,

i have been engaged in forex trading since 5 years and i had many good and bad experience with FX broker. I had to switch from my former broker to FX Choice because my old account was closed because i´m living in the US. First i was very sceptical because i never heard of them and i started with a smaller account. Everything was good, even much better than expected. Spreads were awesome and order execution state of the art. After i made some test withdrawal from my profit and it went through smoothly i started to fund my account with bigger amounts and everything is still perfect. There was one technical issue in the last few month and i wasn´t able to get any quotes and i missed a TP because of it. I contacted FX Choice through customer chat and they told me that there was a problem with liquidity provider bridge and that they are working on it. After a few minutes problem was solved and they adjusted my trade without i had to ask for it within the next few hours. To be honest i almost never saw that in the past. Normally you have to write several mails and you can be glad if broker adjust the trade.For me up to now a 5 star experience!

James Torrwood 09/26/2012

My Experience With FXChoice

After having bad experiences with other brokers, I am really happy with MyFxChoice.com, here`s why:

*Very good 24 hour customer support for me as a beginner
*tight spreads compared to other brokers
*excellent order execution
*reliable server performance (I`ve noticed that you have had
troubles above... must have been before I have started my trading
experience)
*Withdrawal of my won money was very easy and without problems

Tumbs up!

-Sebastian

SebastianMuller 09/25/2012

Many technical issues with this FX Choice broker

In one month, they have had at least 3 technical issues causing my MT4 to "No Connection" while all other broker's MT4s were fine. They are now having issue with AUDUSD and USDCAD closing price. The prices are not moving for almost 15mins. Consequently I have lost my trades. Not recommended.

Jason Dang 07/11/2012

FxChoice Pros and Cons

FxChoice Pros:

- Fixed spread and Variable spread accounts
- Various deposit methods
- Fast execution and limited requotes
- No slippage

FxChoice Cons:

- Fixed spread is wider than advertised
- You will be non-stop requoted if server flag you as a cheater
- 5 pips "freeze" level

Full review and screenshots here:
http://www.forexbrokerz.com/news/fx-choice-review




S.Zhelev 11/27/2011