FXChoice Review

3.901 · 281 REVIEWS


Updated: Oct 22, 2020 · MyFXChoice.com  · Is this your company?

MyFXChoice is a forex broker. My FX Choice offers the MT4, MT5 and MT Mobile trading currency platforms. MyFXChoice.com offers over 35 currency pairs, cfds, commodities, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.


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, 52 558 526 80 32
Regional offices:
Regulators: IFSC #IFSC/60/191/TS/19
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (35+)
Cryptocurrencies: (2) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
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

Live discussion

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MyFXChoice.com profile provided by George, Jul 13, 2018

FXChoice is a global broker specialising in CFDs and Forex for private and institutional clients, not to mention fund managers. The company offers the tried-and-tested platforms of MT4 and MT5, with trading on the go also available via mobile apps. FXChoice prides itself on its customer service, aiming to be the industry's best.


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3.901 · 281 REVIEWS
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Traders Reviews

Ohio, USA,
Oct 9, 2020,
Registered user

No Longer Accept U.S. Traders

Service use: Live

Length of use: over 1 Year

FXCHOICENo Longer Accept U.S. Traders, sad to see them leave the U.S. market
United States, USA,
Sep 28, 2020,
Registered user

So far so good with FXChoice.

Service use: Live

Length of use: 6-12 Months

My experience with FXChoice has been good so far. I am not a profitable trader, but I will say that their customer support is excellent. They are very quick and have solved every single one of my questions and issues I've had over the last year. Their spreads are decent and depositing and withdrawing is SUPER simple with VLoad. The only complaint I have is RARELY, your servers will go down for a minute or two, where I'm not able to log in to my trading account. But overall, great broker. I recommend them.
  1 trader has found this review helpful
Reply by George submitted Sep 30, 2020:
Dear gnacc1997,

It was such a pleasure to read your positive review of our customer service and withdrawals. We are truly grateful.

Good luck in your trading and best wishes!

durban, South Africa,
Sep 25, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

They have issues with withdrawals, Never try them if you like to move your money fast for other trading opportunities

Sep 26, 2016 - 1 Star Bad Broker for Mac users. They don't offer terminals for Mac which make it deficult to trade with them. They asked me to install MT5 with wine and gues what? The platform freezy every 10 munites. It doesn't work at all when there is major fx news.


Reply by Anthony K. submitted Sep 29, 2016 Hello Lindo,

We are sorry you had a negative experience while trading with us. However, we would like to point out that the installation of MetaTrader through Wine is not our solution, but that of Metaquotes, the company who developed MetaTrader http://www.metatrader5.com/en/terminal/help/start_advanced/install_mac. With that being said, we were simply following their recommendations.

We received many requests from our clients for a more straight-forward solution, and very recently we compiled our own Mac-compatible MT5 version, which can be downloaded here https://en.myfxchoice.com/download-mt5-dmg. Naturally, we have tested it quite extensively and haven’t experienced freeze-ups or any other problems with it. The MT4 we compiled for Mac over a year ago, hasn’t had any problems either.

Good luck in your trading.

Kind regards,
FX Choice Limited
Reply by George submitted Sep 28, 2020:
Dear Lindo,

We are sorry to read your review. You have been a client of ours for a long time. We recognise that you had some problems using your Mac way back in 2016, but as far as we can see you have had a very smooth time at FXChoice up until now.

We see that you left us for a while then came back on 21st September, depositing Ripple. It seems that your only dissatisfaction was that you couldn’t withdraw Bitcoin. You cannot withdraw a different currency than you deposited. It would be in breach of our AML rules, which are very clearly laid out.

You must withdraw the same currency that you deposited, and the method should also be the same (wherever possible).

Best wishes,
Lornita Linda,
Sep 21, 2020,

Don't let them do it to you!

Service use: Live

Length of use: 3-6 Months

This company stole our money, and then closed our account because of no funds available. Tried contacting them with back and forth chats, ending in no further responses from them. Didn't get the help we needed, resulting in having our money stolen. This company had been recommended by others, who seem to have been more fortunate than us. The moment we started making profit, it all began to go to hell. We don't recommend this company whatsoever; it's all a scam. Until we get a different result, I can't say anything positive about FXChoice. :-/
Reply by George submitted Sep 23, 2020:
We have responded to this claim elsewhere, so here we are just going to post our unified response to the claimants:

Dear Lornita and James,

Thank you so much for providing the account and ticket numbers. Previously, we weren’t sure who we were dealing with, but now we are certain.

James claimed in his review that we ‘scammed’ him out of $155,000. A serious claim indeed and one, of course, we utterly reject. Now let us share the evidence so other readers can see exactly what happened.

Somebody called ‘Oscar’ came to our live chat to complain that the orders he opened on 9th September should have been 3.5 lots, and not 35 lots. It was these trades that incurred the $155,000 losses. We investigated these orders and found that they were opened by his trading robot. Of course, it is the responsibility of the trader to manage their trading robot, but that’s not quite where the story ends.

On the very day before, on 8th September, orders of a similarly large volume were opened on the account; but on that occasion, it was with a positive result. When you submitted your claim, you forgot to mention these profit-making trades. So, what can we deduce from this? You had absolutely no problem with volumes this large when it was making money, but when it was losing money, ‘FXChoice is a scam’. We believe you knew exactly how the robot was working and that you are looking to shift the blame for its poor performance onto us.

We are sorry to hear that you lost your life savings, but you knew what you were doing.

As for your claims about ‘deleting our accounts’. You logged into Backoffice and deleted three Demo accounts and two live accounts. You did that yourselves. Either it was you or the other person named on your corporate account.

Usa, USA,
Sep 9, 2020,
Registered user

Fxchoice is fraud.

Service use: Live

Fxchoice is fraud company they do cheating. Im going to open chargback request to my bank. This company is cheating with clients. Please I request all you open report against fxchoice.com and get ur money.

Jan 24, 2019 - 1 Star Stay away guys .this company is scame and fraud . Once u invest u cant get ur money back !!!!! And they also charged me 3000$ just commission and swap. This is totally fraud

Dec 27, 2016 - 1 Star This is a scammer company. Plz avoid deposit in to this company . I did big mistik to open account and deposit. The account are not reall. Plz plz avoid!!!!!!!!

Reply by Anthony K. submitted Dec 30, 2016 Hello Roomal,

Thanks for your feedback.

We are glad that you commented here on FPA so that we can address this matter in front of everyone. You call us scammers and make many other claims, without providing any evidence.

Well, like we said we were glad that you commented on FPA. We will not complain here how you abused our support staff during your chat sessions. Instead, we will present the facts. Here is the email that we sent to you once before, it explains in detail what happened.

Hi Roomal,

Thank you for your email. We are not really sure how to interpret "Its last warning .other im going to report and try to ban ur scammer company," we have to say that we read it as being quite brusque and lacking in professionalism. We do understand your frustration after losing your trades, in fact, few inexperienced traders found themselves in similar situations like yours after losses.

Already, through our several live chats sessions and emails, we clearly replied to your complaint about your closed trades at stop out levels and bonus write off. Again for your understanding, let us explain to you one more time.

We issued three bonuses on your three deposits -

1. 19th Dec - 25 USD on 100 USD deposit.

2. 20th Dec - 127.50 USD on 500 USD deposit.

3. 21st Dec - 25 USD on 100 USD deposit.

Out of these three bonuses, you completed trading volume requirement only for the 1st bonus i.e. for 25 USD and the bonus has been converted and then added to your balance on 20th Dec.

After that you lost most of the funds in your account as a result of a series of stopped out trades before reaching the trading volume conditions for 2nd & 3rd bonus, so your statement "I allready rech the limit of boness" is completely wrong, you reached trading volume condition only for the 1st bonus and it was converted and added to your account balance.

And as per our bonus terms and conditions "5. Bonus is written off the account once the equity of your account minus Bonus is less than or equal to margin call level***." so, we removed your 2nd & 3rd bonus i.e. 127.50 & 25 $ from your trading account right after you were stopped out of your short trade 8243931 for 0.50 USDCAD at 2016.12.22 15:30:38, just before the Canadian CPI and the US unemployment claims came out and moved the market against you.

In short, you lost your funds because of your trading strategy & improper fund management, which resulted in the removal of the bonuses as per terms and conditions that you accepted.

Therefore we ask you to clarify where and how we scammed you.

We look forward to your reply.

Merry Christmas and Happy New Year.

Reply by George submitted Jan 31, 2019 Dear Roomalahmadzai,

We have tried to explain via our ticket system on many occasions about your recent concerns, but it seems that you do not want to understand. First of all, the bonus that you are referring to as your money which you can’t get back, we have clearly explained that according to the terms and conditions the bonus is automatically written off once the equity of your account minus Bonus is less than or equal to the margin call level.

As for your comment regarding commissions and swap fees, Islamic accounts are swap free under Islamic conditions. However, commissions are still charged. An Islamic account has trading conditions almost identical to those on our standard accounts; however, there is one notable difference: no swap charges are applied. Please note that for trades where the swaps are normally positive (for instance, Buy on AUDUSD) the commission would be zero, and for those trades where Swaps are negative (Buy on EURUSD or Sell on AUDUSD etc.), the commission will be 75% of the swap, i.e., 0.75*swap. Other than that, conditions for our normal accounts and Islamic accounts are identical. We tried to explain this as well but again you have ignored our communication.

Information about bonuses and Islamic account conditions can be both found under our FAQ and Knowledgebase sections on our website.

Reply by George submitted Sep 11, 2020:
Dear Reader,

Nothing we say to the reviewer seems to be sinking in, so this response is largely written for other readers. We have now blocked his account and will be having nothing more to do with him. Let us explain.

As you can see from the reviewer’s previous entries, he has been very vociferous in warning people away from FXChoice since 2016. But this reviewer is not very good at following his own advice. He has been with us all this time, collecting his IB Commission as he goes and trading normally. But when he loses money through his trading, all of a sudden, we are a ‘scam’ operation and are stealing ‘his’ money.

The reviewer recently lost a lot of money to the market. He came to the chat blaming us for his losses. He said that it was us who executed those trades, not him. We showed him incontrovertible proof that the trades were sent from the device he always uses and from his location. He then tried to blackmail us saying he was going to recommend that his clients begin executing unscrupulous financial practices against us if we didn’t heed to his demands. Blackmailing has to be the final straw.

Sep 4, 2020,
Registered user

Research no more -- U've found the right Broker

Service use: Live

Length of use: over 1 Year

So i've been researching for a very long time (and still do) for the MOST Secure (country regulated) , most reliable , most reputable , low fees + spreads , etc.. Broker in the world .. MyFXChoice is #1 choice . Below is my researched info on the company:

1) Upto 1:200 leverage
2) Country (located in Belize) has a good regulated Forex laws BUT its not as good as the USA. This country has regulation IFSC . Don't be fooled into thinking you need the thousands of Forex laws & regulations in the USA to even consider trading as USA will never offer a leverage of 1:200 --- The way I see it is I sacrifice some extra protective Forex regulations to get my leverage needs as long as the broker firm has a long history of being in business BUT also its reputation.

3) Very Reputable company with one of the lowest complains/issues with clients. Confirm all my claims and compare them to other companies that offer the same amount of leverage and low fees/spreads .

4) low spreads and commission fees

5) They actually communicate and update their customers CONSTANTLY with any upcoming Volatile seasons or holidays or major economic events or updates (unlike most other brokers).
Reply by George submitted Sep 7, 2020:
Dear crisb8713,

It was such a pleasure to read your flattering review of our company. We are very grateful.

We believe it’s important to keep our clients abreast of volatile events in the forex market and we are pleased to see that our efforts are paying dividends.

Best wishes and many thanks,

Ohio, USA,
Aug 26, 2020,
Registered user

My Dream Came True

Service use: Live

Length of use: over 1 Year

fxchoice have lower their margin call and stop out level on their pro account , love this broker, keep up the good work

Mar 16, 2020 - 5 Stars Fx Choice is the most trustworthy offshore broker for all traders they pay withdrawals on time and never no funny business with my trading , keep up the good work Fx Choice

Jun 24, 2019 - 5 Stars keep up the good work you guys are the best out there, great service and always pay withdrawals

Mar 8, 2019 - 5 Stars great broker i been a supporter of fxchoice for many years i wish they would lower their Margin call/ Margin stop: 100/80 on their pro account to maybe Margin call/ Margin stop: 70/50 or lower.

Jan 15, 2019 - 5 Stars so i decided to stay with FXCHOICE, there are brokers with better spreads but i can't trust them, fxchoice always pay withdrawals and do so very fast . a broker that pays withdrawal small and large outweigh better spread brokers any day.

Dec 14, 2018 - 4 Stars fxchoice is a great broker but i must move on, i trade the classic account because of the lower margin call / stop out levels, i must move on because the cost of doing business is just to expensive with the higher spreads and the swap rates are killing my profits.

Jul 4, 2018 - 5 Stars Best Damn Broker For U.S. Traders.
customer service is the best, deposit and withdrawal top notch and very trustworthy. for U.S. traders this is the broker you want and need.

Jun 14, 2018 - 5 Stars im very concern that FXCHOICE has been throttling connections of traders, they are a good broker but they might be doing something to cover there butts . there update on myfxbook and other has been very slow

Mar 25, 2018 - 3 Stars Epayment no longer except US Citizens. and you can't convert your bitcoin to fiat currency so where back to depositing by wire transfer with fxchoice. i hope they find better payment options, not everyone has 2K to wire just to get the fee back.

Nov 25, 2017 - 4 Stars need to add paypal as deposit, i like bitcoin but at the moment can't convert bitcoin to my USD account, also would be nice if they can add credit card deposit , other then that the best broker for U.S. traders

Oct 5, 2017 - 5 Stars they made my dream come true, you no longer have to have a bitcoin trading account to withdraw with bitcoin. thank you fxchoice

May 17, 2017 - No Rating question for fxchoice, on your website it say you take bitcoin for deposit but it don't say if you allow withdrawal with bitcoin

Mar 11, 2017 - 4 Stars will give 5 stars if they had credit card deposit, other then that they are a good broker, they had credit card deposit just last month don't know what happen to it

Reply by George submitted May 19, 2017 Hello Poundtrader,

Thank you for your message. Bitcoin is included as an option for depositing and withdrawing. Please visit our “Deposits and Withdrawals” page to see all of our payment methods. You can find this page under the “Accounts” tab from the main menu. You can click on each one of the payment options to read details such as process, instructions and other information.

Should you have any further questions or need assistance, please do not hesitate to contact us.

Reply by George submitted Dec 11, 2017 Dear Poundtrader,

Thank you again for another valuable review. As we have explained in similar comments by other users, Bitcoin deposits to a fiat-denominated account (such as USD and EUR) are currently suspended until further notice.

Please note that for our US clients we reimburse any wire transfer fees for deposits of $1000 and over.

Best wishes,

The FXChoice Team

Reply by George submitted May 15, 2018 Dear Poundtrader,

Thank you for your message.

We are sorry that a third-party company has affected your experience trading with us. Please note that our clients can deposit and withdraw Bitcoin and Bitcoin Cash to/from the corresponding accounts. If you want to make a smaller deposit, we would recommend that you open a Bitcoin-denominated (or Bitcoin Cash-denominated) account and fund it with Bitcoin (Bitcoin Cash).

As per your concern about the wire transfer amount, US clients can deposit only $1,000 to qualify for bank fee reimbursal.

We are working on adding new payment methods for our US customers and will keep clients informed of any progress.

Meanwhile, should you have any questions, our support team will be glad to assist you. Please accept our sincere apologies for the delay in response regarding the technical issues with the website’s (FPA) reviewing system.

Best wishes,

The FXChoice Team

Reply by George submitted Jun 19, 2018 Hello Poundtrader,

Thank you for your review and close attention to our services. We would do our best to help you solve your connection issue if you could share more details of your particular case with our support team. Nonetheless, we can assure you that our server connection is stable and the issue should be not from our end.

As per your concern about Myfxbook updates, we cannot be held responsible for third-party service quality. We recommend you address your request directly to the system in question.

Our support team is always there to assist you.

Best wishes,

The FXChoice Team

Reply by George submitted Dec 20, 2018 Dear Poundtrader,

Thank you once again for sharing your feedback here.

We are sad to hear that you are having to move on due to spreads and swap rates. We believe that we offer some of the most competitive trading conditions as an STP broker. We would like to point out that our Pro account spreads are very competitive and that you can even gain by reducing commission using our loyalty programme ‘Pips Plus’. For more information about our loyalty programme, please visit our Pips Plus page which you will find under the Trading Services section from the menu.

Additionally, if you contact our customer service, we will be more than happy to look into your account and discuss your trading strategy, so that we can recommend the best trading account to suit your requirements.

Best wishes,

Reply by George submitted Jan 29, 2019 Dear Poundtrader,

We are delighted to hear that you have decided to stick with us. We appreciate your loyalty and thank you very much for trusting us. We do our very best to ensure the smoothest and fastest possible transactions in order to enhance our client’s trading experience.

Best wishes,

Johannesburg, South Africa,
Aug 19, 2020,
Registered user

FX Choice really is the wise choice.

Service use: Live

Length of use: over 1 Year

I've been with fxchoice coming up to 2 years, there have been the odd challenges which is normal but its how they have handled the challenges that defines them. Make no mistake there are too many dodgy brokers out there but fxchoice are not one of them. They are by no means perfect but they do come close for me :)
their support is second to none. There were challenges with connectivity but these were resolved and we were updated. Withdrawals are done systematically and support is speedy and friendly. If I were to be honest and find fault was a year ago friday night before close their liquidity provider increased the spread by 50 pips before market close I imagine quite a few stop losses got hit, I was quite fortunate to have not been affected. I did raise the question out of curiosity and was advised that if my sl was hit that would have been my trade toasted as they do not control that side of things, however I'm not sure if that is still the same today.
Overall they are worthy of their 5 star rating, they bring comfort with reliability and create a safe environment to trade on. No monkey business here. Thank you guys, and keep up the great work!!!!
Reply by George submitted Aug 21, 2020:
Dear Marcusv007,

It was such a pleasure to read your positive review. Many thanks!

We’re especially pleased to read that, for you, FXChoice brings ‘comfort with reliability and creates a safe environment to trade on’. It’s also nice to see that you’ve praised our withdrawals and customer service, too.

We wish you the very best of luck and happy trading!

Dhaka, Bangladesh,
Aug 19, 2020,
Registered user

Everything is great But...

Service use: Live

Length of use: 0-3 Months

I opened an account on FxChoice.
Everything is fine.
Fast Deposit
Fast Customer Support
Quick Execution
High Spreads , it's a pain for scalper like us. So, I have a request to FXChoice, "Please reduce the spread, people will love you :)"
  1 trader has found this review helpful
Reply by George submitted Aug 21, 2020:
Dear Trader_203BA,

Thank you for your positive review. We’re glad to see the pros you have listed outweigh the cons. We actually think our spreads are very competitive.

Best wishes and good luck!

Bangladesh, Bangladesh,
Aug 19, 2020,
Registered user

World worst broker

Service use: Live

Length of use: 3-6 Months

Dont knownwhy every single day there mt4 got stuck for 4-7 min.

And its happens regular basis daily 10-15 time.

Aug 5, 2020 - 1 Star Every single day whenever i took trade once market get volatile there server hanged gor 3-10 min.

Thats regular case.

Dont recommend anyone ti use this broker.

Reply by George submitted Aug 7, 2020 Dear Pipskhor,

We’re sorry to read that you were affected by the recent issues on our Pro servers. We sent out an email to all Pro account holders detailing our apologies and instructions to submit a trade dispute.

If you feel you had any affected trades, we encourage you to contact us with your account information and the numbers of the affected trades as soon as possible. Of course, we promise to be thorough with our investigation, and if it transpires you did indeed have trades affected, we will compensate you.

Best wishes


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