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FXChoice.com Review MT4 - MetaTrader Platform MT5 - MetaTrader Platform

Overall Rating: (4.275)
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Total Reviews: 103
Last Updated: 2015-08-31
Description:

FX Choice are online forex brokers. FXChoice offers the MetaTrader 4, MetaTrader 5, and MT Mobile forex currency trading top platforms. FXChoice.com offers over 20 currency pairs, cfds, and metals for your personal investment and trading options.

Special Notes:

Other websites of this company include MyFXChoice.com

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2011-10-14
Review: We haven't tried a forex trading account with MyFXChoice.com. If you've traded forex with this broker, please leave a review here.

Jeremy Scott, California, USA

Rating:
Date of Post:2015-08-22
Review: Update about FXChoice: I have have been monitoring trades recently and every time there is a profitable trade that tries to close, the connection is rejected- many attempts to close over several hours are consolidated into only one error message in the log, a single off-quotes error at 13:59 for each day, but there are in reality dozens of rejections because my robot continues to try to close the trade, each minute. These off quotes did not affect any losing trade, only winning ones. Furthermore, the robot works perfectly fine with other brokers that my customers use, and works fine for me on my other MT5 demo accounts.

They seemed good for over a year, but unfortunately I don't trust them anymore, and do not recommend them for USA clients.

May I ask: everyone who uses FXChoice from the USA, please check your expert and journal logs and look for similar clues to disruption and please write me back. If they are actively cheating against the client, they will pay for their crimes and you can help.

If you want to see the proof that they cheated I snapped a screenshot a few weeks ago and it should be very clear in a moment after you read the next part that they consolidate every rejection into only one error, hoping I'd be too stupid to notice. Even after this screen shot and an upset email to them, they kept doing this for a few more days. Each of those represent a day where I was in profit and the robot tried to close the trade; the rejection of a positive deal happened often for many hours, continuously even though you see only one off quote error- always at time 13:59, on several days.



Here is a snippet from the email i sent them, the 'evidence' part of the message that they are cheating that i promised them i'd make public if they didn't explain themselves, which was in response to a 'why are you leaving us email?' they sent after ignoring all my other messages and problems:

There is nothing wrong with my EA. It works on live accounts and demo accounts across the world flawlessly. I’ve been programming EAs for many years and in fact I’ve been programming EAs in MQL5 ever since the programming language went public and had customers buying and using them long before I even had access to trade live with MT5. Back then my customers always send me the trading, expert and journal logs and there were never so many and especially suspicious looking off-quote errors. Besides that- now, and for the past few years, I have close associates in several countries running my EA on non-FXChoice accounts with the same settings I use and no problem like this!

All these off quotes have a few things in common. They all report happening around 13:59. Specifically between the 8 second interval ~13:59:50.2 and ~13:59:57.8 . Compare the count of the error happening at 13:59 with the count of all other trades occurring outside this time interval and the statistics should tell the story.

What is the probability that 2 trades occur within the same 8 second interval in the day on different days? There are 60*60*24/8 = 10800 eight second intervals in a day. So there is a 1/10800 probability that two of these error-trades occurred at the same time. There are 5 off quotes on this screenshot and another one at least that happened since then so there is a 1 in (108000^(6-1) = 146932807680000000000) chance that this is an accident.

There is a 99.999999999999999999319416802966% chance that either :

1) your company has a technical problem. Even if it’s non-malicious, it’s still a problem that no one should have to suffer for.

2) your company is cheating, blocking my profitable trades, pushing all off-quotes errors and consolidating them to one time at 13:59, or blocking the communication of all trade-close requests when I’m in profit and sending the one generic off-quotes message as a cover up. In this case your programmers messed up by leaving the perfect evidence on the client side platform.

How do I rule out (1)? All of these off quotes log ONE attempt to close a trade. My robot will continually try to close positions after failed attempts, so there should be more than one error. Furthermore, this does not seem to affect losing trade closes. You always allow those but block profitable ones. The majority of profit on that account came from me manually closing profitable positions, but you took no measures against the EA closing a losing trade!

Am I disappointed? Absolutely. Will I continue recommending FXChoice. Not unless you fix the problem which means stop cheating against the client, most clients will lose all their money, you don’t need to cheat to get it!
They claim to be ECN, but their system does not operate as such. It's so sad, I had high hopes for this broker and they let me down.

If anyone knows a new MT5 broker that actually accepts USA clients, please continue posting in this thread. We need a safe place to trade MT5! For now, it's back to MT4 with a fully regulated broker. I told FXChoice they had until Wednesday to respond to my email, that was several days before Wednesday, and I gave them 2 extra days, still no response. They pay attention to you while you put money into an account, but as soon as you leave or get upset, they don't take the time or spend any energy trying to answer your questions or explain themselves when there are huge problems going on.

Shame on this company. No more referrals to you from me!

Good bye FXChoice. I warned you that the truth would come out if you didn't explain yourself and try to make me trust you again- you didn't give me the slightest bit of customer support in this matter and now it's been weeks. Bloody criminals.

 
Comment: Added by Anthony K. on 2015-08-24 10:41
  Dear Jeremy,
Naturally we wound not have built the reputation we have built over the years by purposefully cheating people. You said yourself that you have been very happy with our service up till now. We would be the first to admit that technical issues do arise from time to time and we pride ourselves in handling those issues in an efficient and timely manner.
We ask that you give us a few days to investigate your claim to determine if there is indeed a problem somewhere in our execution. Rest assured, if we find any irregularities they will be dealt with in a fair and timely manner.
Please allow us to the end of the week ( Aug – 28th) to investigate your issue and to determine an appropriate action. We will be in touch by email once a determination has been made. We kindly ask you to provide the account numbers on which you encountered the problem. Additionally, the time you mentioned in your post (13.59), is this our server time?
Thank you for your patience and support while we investigate this matter.

2015-08-28

Due to the lack of input data, the results of our investigation were inconclusive. We contacted MetaQuotes company (the developers of both MT4 and MT5) regarding this issue and we have requested Jeremy to provide the logs from his trading station and from his EA, as was suggested by MetaQuotes. Once we have received them, we will be able to continue our investigation and eventually solve the problem.

Stay tuned.

Francesco Fornasiero, Farra d'Isonzo, Italy

Rating: No Rating
Date of Post:2015-08-18
Review: I give my experience with FxChoice. It is reliable and they give me quick withdraw of account money. I had to close the account because their MT4 platform froze two or three time a week while on the same VPS other MT4 platform are running with no break.

CHERIET, Algeria, Algeria

Rating:
Date of Post:2015-08-01
Review: after a lot of disappointment with other brokers . I started to trade in demo and live with fxchoice . Everything is so well done and easy to use at the point where I have never needed to contact customer service. I am very happy

Jack , singapore, Singapore

Rating: No Rating
Date of Post:2015-07-27
Review: A short note to thank Barbara of FX Choice of her excellence in customer service. I have some questions about how to re-fund the balance of my demo account and she took the effort of getting into it and check if the system was running properly. And very quickly she explained the steps needed to complete the procedure of funding the balance in a detail fashion and not just merely answering questions like a operating robot machine. Keep it up coz it builds my confidence to trade with a broker like FX Choice and to open a live account. Cheers.

Irina, , USA

Rating:
Date of Post:2015-07-25
Review: I left a comment before with negative rating I would like to remove that comment and change the rating because Fx Choice compensated me my loss. I tried many forex brokers before and FX Choice is the the best broker so far.

2015-07-15 1Star Decided to try Fx choice. Did not have problems at the beginning but later they closed my deal with coffee futures on the price of 1.1725 when the market price was 1.2783. My loss was $ 435.00. You can check it. It was on 07/07/2015 at 15.44.02. Fx choice server time.
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Caryn Walsh, Montana , USA

Rating:
Date of Post:2015-07-15
Review: Paul was an exceptional help with starting my new account. There were some differences between the demo account options and the live account options based on my templates. He and the tech team spent over an hour helping me test and uninstall an old template so their program would work. Fine job! Never expected their support people to really dig in and they did. Super pleased. Thanks.

Omar, North Carolina, USA

Rating:
Date of Post:2015-06-08
Review: They lied to me about using skrill to fund my account and after opening a real account they told me i can only fund my account using wire transfer and not skrill or credit card deposit. not recommended to USA traders at all
 
Comment: Added by Anthony K. on 2015-06-15 08:18
  Dear Omar,

We apologize for this inconvenience, however we would like to point out that the limitation you have mentioned in your post was imposed by the payment system itself, and we have absolutely no control over it. We as a broker do everything we can to introduce new payment methods and improve existing procedures, but we have no control over third party credit card authorization.

Thank you for understanding.

Rico, Miami, USA

Rating:
Date of Post:2015-05-27
Review: FX Choice is my primary FX broker. Overall I rather live their set-up. It’s easy to open MT4 accounts from their back-office system. Also a real added value is that you can create demo accounts and instantly adjust the balance. To me that works wonders, and I do a lot of forward testing and have opened new demos just for that reason (I think FXCM might have blacklisted me on Demo creation as I opened so many). The Spreads are really good as well.

The issues I have/had with the company.

1. They almost lost me as a customer with their deposit situation. I think in a feedback below, the same thing happened to a previous customer. They fixed the deposit concern, but I’m not so excited about their wire transfer only withdrawal that they have in place. So I will only use them for longer terms strategies where I’m not trying to withdraw money every few weeks or so.

2. Transferring money from 1 account to the next requires you to verify via email. Not that this is a problem, but there should be some kind of message stating that. The first time I did a transfer, 4 days before customer service explained I should have gotten an email (which I did). But I didn’t actively look through the email as I though it was just a confirmation email.

3. I will be completely honest about their customer service. I think it’s horrible. Not for the sake of availability, but only because I think the support staff does not understand English well. I have records of chats going upward of 20 minutes only because the rep simply did not understand the initial question. One chat person simply stop responding to me completely. I would rephrase questions many times, but it didn’t help. For the concern in #2, I had to chat in twice. I realized by the agent names that they might work different shifts, so I got a different person the second time around, and it still took about 8 minutes to tell me about the confirmation email and a link I needed to click on to transfer money between MT4 accounts.

I will rap this up by saying, if you are a US resident, this is the best choice if you need a foreign account (I have 4 different broker foreign accounts).
 
Comment: Added by Anthony K. on 2015-06-22 03:37
  Hello Rico,

Thanks for your comment.

Since the quality of our services is our top priority, we would very much appreciate if you could tell us the name of the representative or representatives that you have chatted with. You can contact us at [email protected] Additionaly, could please provide us with the email address that you used to register with us. We would like to investigate this matter further but were unable do so using the details you provided here.

In your comment you mentioned: “Transferring money from 1 account to the next requires you to verify via email. Not that this is a problem, but there should be some kind of message stating that. The first time I did a transfer, 4 days before customer service explained I should have gotten an email (which I did). But I didn’t actively look through the email as I though it was just a confirmation email.”

As a matter of fact, after submitting your transfer request, our system clearly states a confirmation email has been sent to your email address and you must click on the confirmation link to complete your transfer.

We look forward to hearing back from you.

Once again, thank you for your comment and good luck with your trading.

Lisa Kristinardottir, Houston, Texas, USA

Rating:
Date of Post:2015-05-01
Review: FXChoice is great in every way you can imagine. I've tried few others with horrible experience. I also have accounts with FXCM and I like them as well. I speak as a US citizen based in the US and trading Forex specifically. The FXChoice support is very fast, knowledgeable and helpful. Unbelievably good in face!. The account setup and dealings is great so far. No complaints. Hope this continues for me and everybody as well worldwide! Lis
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