FXChoice review: Is it a legit or scam forex broker?

3.929 • 312 REVIEWS
Also FXChoice.com
Updated: Feb 22, 2024
MyFXChoice.com

5 star review by Saiful, Bangladesh

FxChoice is a great broker. There was a technical glitch in my account, they fixed that in a very professional manner. Never had any problem with them. Withdrawal is fast as well.

What is FXChoice?

FxChoice (MyFxChoice.com) is is a forex broker that offers MT4, MT5 and MT Mobile trading currency platforms.

FX Choice trading instruments include over 35 currency pairs, CFDs, commodities, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Please read FxChoice reviews below and share live trading experiences with this broker.

Other websites of this company include FXChoice.com

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2010
Address: Corner Hutson & Eyre Street, Blake Building, Suite 302,Belize City, Belize
Contact: info@myfxchoice.com, +52 55 6826 8868
Regional offices:
Regulators: FSC #IFSC/60/191/TS/19
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (35+)
Cryptocurrencies: (2) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
Deposit Methods: VISA, MasterCard, AstroPay, Bitcoin, ePayments, Ether/Ethereum, FasaPay, Neteller, PaySafe Card, PerfectMoney, Poli, Qiwi, Rapid Pay, Skrill, UnionPay
Withdrawal Methods: Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Skrill
* Please check broker website for more information
3.929 • 312 REVIEWS

Recent User Reviews of FXChoice

K
Kamaja Fx
Buenos Aires, Argentina,
Jan 12, 2024,
Registered user

Service use: Live Length of use: over 1 Year
My money was sent to my wallet. Issue solved. Only difficult with the process was to send a selfie with my id to enable the 2FA. It must be perfectly readable for them.

Jan 10, 2024 - 4 Stars I've qualified with 4 stars because it was a great broker for me. But unfortunely, today i've received an email asking me i withdraw my money. They explain that they are thinking it business model. I believe FxChoice will cease operations. The restrictions to accept cryptos as payment option by Belice authorities, I believe that it has damaged the company. In case i don't receive my money I'll post it at FPA.
E
europxo
Home, USA,
Dec 19, 2023,
Registered user

Crypto deposit and withdraw

Service use: Live Length of use: over 1 Year
They inform me soon deposit and withdraw in crypto gonna go away hmmm no problem, but now I can't place any trades I can only close them. I thing they going out of business..
T
TraderJumi
Adana, Turkey,
May 8, 2023,
Registered user

Fast withdrawal

Service use: Live Length of use: over 1 Year
I've had an account with fxchoice for more than 3 years.I had not been trading in the fx market for about 1 year.
I wanted to return to the fx market again and I wanted to start trading again with the Fxchoice company that I had traded and had no problems with before.
I've been trading for 2 weeks and it's going very well. I made a profit as much as the money I deposited and wanted to withdraw it last Friday, on the same day, the money was in my account in tether.

The customer representative was very kind and helpful.

Thank you Fxchoice for your service quality. I recommend this company to everyone.
T
Reply by George submitted May 11, 2023:
Dear TraderJumi,

It was such a pleasure to read your glowing review and that you’ve returned to trading after a break.

We work tirelessly in improving our services, including our deposit and withdrawal methods, so to read that you had a smooth experience with crypto lets us know we’re on the right track.

We wish you all the best in your future trading!

FXChoice
A
ABRSAXE
los angeles, USA,
Apr 12, 2023,
Registered user

Excellent service period.

Service use: Live Length of use: over 1 Year
I've had an account with fxchoice since before US clients were blocked due to governmental regulations.

Although, they were not allowing new customers from USA they did permit existing retail traders continue trading.

My experience always positive never any problems or dishonesty from this broker and customer service always responsive.

Withdrawal request and deposit all promptly handled.

I was in southeast asia last year and when I submitted a withdrawal request after a few additional security steps my money was processed quickly.

At the moment that, I am submitting this rewiew already requested another withdrawal. In future plan to fund 50k live account with them.
R
rmcardoso
Sao paulo, Brazil,
Feb 21, 2023,
Registered user

Order that do not close

Length of use: 0-3 Months
all my orders for hours did not close and did not open. Look at their response.

Please note that our short-term issues were resolved today around 10:00 server time (please see our reply to your ticket 22708694). Which means you had complete control over your open orders since the mentioned timestamp. Therefore, we regret to say we are not in a position to provide any kind of compensation as regards to your query.

Totally insane.
2 traders have found this review helpful
R
Reply by George submitted Mar 14, 2023:
Dear rmcardoso,

Your review concerns an outage on one of our servers which temporarily left clients unable to open or close trades. We are very happy that we were able to find a mutually agreeable solution with you, and we look forward to our future cooperation.

Best wishes and happy trading.

FXChoice

Frequently Asked Questions

Is FXChoice regulated?

FxChoice is regulated by the International Financial Services Commission of Belize (IFSC), Its license number is IFSC/60/191/TS/19

Is FXChoice legit?

The best way to see if FxChoice is a good and legitimate broker is to read the unbiased traders reviews on ForexPeaceArmy: https://www.forexpeacearmy.com/forex-reviews/8159/myfxchoice-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we recommend that you check recent MyFxChoice community discussions: https://www.forexpeacearmy.com/community/tags/myfxchoice/

Is FXChoice an ECN?

FxChoice offers ECN on its Pro Account. Pro Accounts can be opened with a minimum initial deposit of $100.

How do I withdraw money from FXChoice?

To withdraw money from FxChoice:
  • login to the client BackOffice
  • once there, you will be able to see the available withdrawal options
Please note that FxChoice withdrawal options will vary depending on what country you live in.

Is FXChoice a market maker?

FxChoice acts as a market maker for Classic Accounts, and also offers ECN accounts called Pro Accounts.

How long does it take to withdraw from FXChoice?

MyFxChoice processes nearly all withdrawal requests within 24 hours Monday through Friday.

When the withdrawal is processed, the time before the money is received will vary depending on the method of payment you chose.
  • eWallet withdrawals should be nearly instant
  • Bank wires can take as much as 10 days to arrive