FXChoice Review

3.877 · 289 REVIEWS

FXChoice

Updated: Jan 20, 2021 · 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.

FXChoice

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

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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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3.877 · 289 REVIEWS
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Traders Reviews

Florida, USA,
Jan 12, 2021,
Registered user

Scammed me 20 pips

Service use: Live

Length of use: 3-6 Months

Went short on NZDCAD and the spread, out of nowhere, went from 75 to 305. On top of that, my trade hit my TP by more than 10 pips and this “broker” didn’t close that trade after tp was hit. I have screenshots if anyone wants to take a look. Just a terrible...terrible broker. STAY AWAY! Customer support sucked as well. They told me to write an email to their back office, so I did. After I wrote them a long, detailed email on my issues with these trades, they looked at the ticket and closed it. BEWARE!!! This broker sucks!!!
 
Reply by George submitted Jan 19, 2021:
Dear Castacio10,

We are extremely disappointed to read your untruthful review.

Firstly, let’s address your trading claim, then we’ll address your claim that we ignored your ticket.

You simply misunderstood that SELL orders are closed at the ASK price, not the BID price. This is a common mistake among newbie traders. We recommend you right-click inside the MetaTrader chart area, click ‘Properties’, then select the tab ‘Common’. You can then select ‘Show ask line’ and hit ‘OK’. This will display the ASK price on your charts, as well as the BID price.

You said that ‘we looked at the ticket and closed it’. This is not the truth. We will lay out the chronological order of your complaint with timestamps:

1. 00:42 – Client opens ticket
2. 00:45 – Client adds screenshots to the ticket
3. 00:47 – 1st client demand for response
4. 00:52 – 2nd client demand for response
5. 00:56 – Client enters live chat and communicates with our staff
6. 17:31 – We responded to the ticket and closed it

As can be clearly seen, we did not ‘look at the ticket and close it’. You opened the ticket and demanded that we answer you within 10 mins; our standard response time is within 24 hours, not 10 mins. Then you spoke with our colleagues in live chat, who explained to you that you’d made a simple mistake, but IT would respond more formally later that day, which they did and then closed the ticket.

We can only hope that other readers of this review can deduce that you have written this review based on a deceiving statement and lack of trading knowledge.

FXChoice
Johannesburg, South Africa,
Jan 4, 2021,
Registered user

spreads have changed drastically

Service use: Live

Length of use: over 1 Year

going for 2 months now they have changed the spreads on various assets, not quite sure what happened besides ofcourse the holidays....but other brokers are giving far better with their liquidity providers.
  1 trader has found this review helpful
Reply by George submitted Jan 11, 2021:
Dear Mav007,

Many thanks for your review.

Over the holiday season, our spreads did indeed widen due to decreased liquidity in the markets, but this is seasonal and happens every year, and probably at every broker. We believe our spreads are very competitive; you may notice that our spreads have normalised after the holidays.

Best wishes and happy trading!

FXChoice
Ohio, USA,
Dec 26, 2020,
Registered user

U.S. Clients

Service use: Live

Length of use: over 1 Year

if you are a current U.S. client you won't have any problems with this broker they are honest and trustworthy

Oct 9, 2020 - No Rating FXCHOICENo Longer Accept U.S. Traders, sad to see them leave the U.S. market

Aug 26, 2020 - 5 Stars 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,
FXChoice

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,
FXChoice
 
Teixeira de Freitas, Brazil,
Dec 19, 2020,
Registered user

questionable conduct

Service use: Live

Length of use: 0-3 Months

I asked an attendant support on chat about who the CEO of the company is ... And he simply told me that they are not required to tell me who it is. This is not a characteristic of a transparent company with its customers. If you doubt what I say, go to the chat and ask, they will not answer, and you will not find it on the internet about the CEO / Director of this broker either.
 
London, United Kingdom,
Nov 26, 2020,
Registered user

Deposits of less £3.5k must be in Bitcoin - really frustating

Service use: Live

Length of use: 0-3 Months

I wanted to share an initial experince of trying to set up an account with FXChoice.
This broker was selected based on the GPS Robot EA recommendation (I tried using the GPS robot EA with my IG account and it didn't seem to work - not making any trades after 2 weeks). So I thought I would try their recommended broker.

The only 'issue' I have withFX Choice (so far) is that they are insisting that account deposits of less than £3,500.00 are made using Bitcoin! - which has caused me all kinds of hurdles trying to set up a bitcoin account, and then getting a transfer set up - so far I still have not got there yet!

Why can't they just take a normal bank transfer like my IG account broker?? If they had - I would have had my account up and running by now.
 
Reply by George submitted Nov 27, 2020:
Dear Johnny_SFX,

Many thanks for your review.

Unfortunately, we were unable to identify you in our system from your avatar and review content.

We want to make it clear that there are many other options available to you, not just bitcoin. For example, you could use any one of our e-wallet options, like Vload, Advcash or ePay. We are also expecting to launch a simplified bitcoin deposit in future for values less than $1,000.

We strongly urge you to get in touch via our live chat so we can discuss the different options available to you. You can also request a callback.

Best wishes,
FXChoice
Boston, USA,
Nov 19, 2020,
Registered user

Great company been with them for almost a year

Service use: Live

Length of use: 6-12 Months

There is a lot of sketchy brokers out here but I did my due diligence with fxchoice &
And never regretted using them again!!They are quick with-withdrawals, customer service is 24/7 and they aren’t on the other end of your trades! I highly suggest this broker!
 
Reply by George submitted Nov 23, 2020:
Dear Chartwizzz,

Many thanks for your review, praising our speedy withdrawals and round-the-clock customer service.

We wish you all the best and happy trading!

FXChoice
beirut, Lebanon,
Nov 1, 2020,
Registered user

thank's fxchoice

Service use: Live

I am a member of fxchoice very old, I deposited an amount of $ 3000, but the bank with which I deposited has expired its contract with fxchoice, However, the full amount was returned to me to my bank in my account,
thank's fxchoice
  1 trader has found this review helpful
Reply by George submitted Nov 3, 2020:
Dear alibetto,

Thanks for your great review. We’re really pleased you had a good withdrawal experience with us and we wish you all the best.

FXChoice
Germiston, South Africa,
Oct 27, 2020,
Registered user

Withdrawals

Length of use: 6-12 Months

Deposits are a dream. Withdrawals don't work. Check their facebook page to read the horror stories, myself as well as others. What a bad experience getting your money from them. Good luck if you made the mistake of depositing funds with them, you probably won't see that money again.
 
Reply by George submitted Oct 29, 2020:
Dear Marlon,

We are very disappointed to read your review.

Your situation is clear. Your ID was expired, so we asked you to upload a new ID before we processed your withdrawal. This is common practice at every regulated broker. It is written in our Client Agreement and in the Deposits & Withdrawals Policy. You cannot make financial transactions at a regulated broker without a valid ID document.

You uploaded a valid ID, and we processed your withdrawal the next day.

FXChoice
California, USA,
Oct 25, 2020,
Registered user

Great... trading for 9 yrs

Service use: Live

Length of use: over 1 Year

Great broker. ECN is great. Tiered commission discount is great as well. Highly recommended!
  1 trader has found this review helpful
Reply by George submitted Oct 27, 2020:
Dear JonnyFX007,

Thanks for your excellent review and for praising our Pips+ Programme.

We wish you all the best!

FXChoice
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.
  2 traders have 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!

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