FXChoice Review

3.921 · 296 REVIEWS

Also FXChoice.com

Updated: May 15, 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 55 6826 8868
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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3.921 · 296 REVIEWS
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Traders Reviews

Montreal, Canada,
Apr 29, 2021,
Registered user

A great company

Service use: Live

Length of use: over 1 Year

I have been using the live account for a week now and everything works perfectly. A small delay vs. their demo accounts, but other than that, it has truly been great.

Their customer service is fast, they are ethically on the right side and don't scam you out of your money and they provide multiple banking options.

I had been practicing on their platform for at least 1 year and their live account behavior matches their demo account.
 
Reply by George submitted Apr 30, 2021:
Dear MazdaForex,

Thank you so much for your positive review. We work really hard to make sure our clients have the best customer service, so to see you highlight it lets us know we’re on the right track.

Best wishes and happy trading!
FXChoice
annoymous,
Austin, TX, USA,
Apr 19, 2021,
Guest

WOW. you guys are unbelivable

Service use: Live

Length of use: 6-12 Months

This is for the last person on here who posted their review. I would encourage you to take heart. When someone shows you who they are the very first time, believe them. I dealt with Fx choice in the past. I am no longer with them due to their huge spread, w the few seconds freeze when you are trying to enter a market. As well as just feeling that they are really dont want you to win. Their customer service is excellent. But the company overall is very very shady. Always listen to your instincts. Now these crooks are saying that a trader found a way to manipulate their system? Are you kidding me? You guys are unbelievable. I'm thankful that I closed my account. Never felt good trading with this company. Hopefuly more and more people will lern from your experience and stay away from these offshore brokers. This dodd frank bill that was passed in 2010 has deveated many U.S. residents looking for offshore thieves calling themselve brokers. So to try to make money, many of us will jump at the opportunity, not realizing that we are setting ourselves for failure. If this company decide to close shop tommorrow and take everyone money with them, what can you do about ut but just come to one of these forums to complain. Guys, stay away from these offshore brokers. Better to make no money and keep your money than take a chance with these crooked brokers and end up loosing all your bank. Anyways, be careful guys. These brokers dont want you to make money.
  1 trader has found this review helpful
Reply by George submitted Apr 20, 2021:
Dear annoymous,

Thank you for appraising our customer service as excellent. It is greatly appreciated.

However, we totally reject your claim that we are ‘shady’. You have left no identifying information, so we can’t find you in our system and establish if you truly are a former client. Could you please provide some kind of evidence that we are shady? We have no record of someone from Austin, TX, making a complaint.

What we can establish is that it is not possible for us to simply ‘close shop and take everyone’s money’. We are a fully regulated brokerage firm. Our clients’ funds are kept in segregated accounts, separate from our own.

As for your claim that we don’t want our clients to make money: this is untrue. Our clients’ success is the cornerstone of our business.

FXChoice
Bucharest, Romania,
Apr 6, 2021,
Registered user

Reply profits deleted

Service use: Live

Length of use: 3-6 Months

As per your reply, if you really consider yourself a legit broker that is doing everything legally, i am kindly asking you to post here my trading statement together with the prices you got from your Liquidity Provider in the exact same period, so i can prove to the entire community that i have acted on the prices that you offered from your LP. It is absurd to accuse me that i have acted on different prices than the ones you offered. Do you even imagine what you were saying ?

You cannot just reply to my review and accuse me without offering proofs...Everyone here wants to see real proof, not only words

So, FxChoice i am waiting for your real proofs. I have just gave you permission to post here my TRADING STATEMENT so can anyone see what i am talking about. Do not forget to attach the prices you got from your LP in the exact moments my trades were opened/closed

Mar 15, 2021 - 1 Star My experience with fxchoice started in a good manner and my first withdrawals with them were fine, everything went very smoothly....but on 26th of February they had a technical problem with their indices and stocks and they have disabled trading on those instruments for all their clients (as they were told me on live chat)....

On 1st of March i got the below email from them:

,,We have detected trading activities on your account that represent abuse of our trading rules. A thorough investigation of your account has shown that you found a breach in our system which you used to your advantage.

This is in breach of the FXChoice Client Agreement, which you have accepted. When doing so, you agreed to the following clause:

17.4 FXChoice shall immediately terminate the Client agreement, in the event of:
a) a violation of any part of the Client Agreement on behalf of the Client;
...
d) a Client involving the FXChoice in any type of fraud.

17.7 If paragraph 17.4, above, becomes effective FXChoice reserves the right to reverse any transactions that are deemed to be contrary to the Firm’s or the Clients’ interests.

All abusive trades of yours have been cancelled and deposit correction has been applied to write off any profits generated as a result of the fraudulent activity. Your account(s) are now closed for trading and we blocked your Backoffice access.

We consider this letter the termination of our business relationship."

I need to mention that since my last withdrawal with them which was on 23th of February i only placed 2 or 3 trades on some cryptocurrencies (no indices or stocks) and suddently on 1st of March they deleted all my remaining profits with them (which were realized before my last withdrawal), without giving me a sustainable explanation (because they didnt have any real claims).....

I asked them in several emails to tell me exactly what i was doing wrong and they couldnt sustain their accusations...they simply answered that i breach their t&c's...

If something was wrong with my trading they wouldnt approve for me 4 withdrawals before the cancelation of my profits....

They most probably wanna stop their business and get away with clients money, so all of you be aware of their behaviour because they are starting to steal the money of their clients...

As a reference for FxChoice my account no was 234893

Reply by George submitted Mar 17, 2021 Dear Pappay,



We have sent you an email outlining our position on why your ‘profits’ were cancelled. Please read it carefully, but we’ll lay out below what happened so other readers can understand who you are.



This client used a fraudulent trading strategy that found a weakness in our system. He manipulated and systematically attacked that weakness to put himself in a position where his trades were unlosable. This is a highly unethical trading strategy. Our Client Agreement, which the client signed, forbids attempting to involve FXChoice ‘in any type of fraud’.



We are astonished to see a negative review here.



Pappay, as far as we’re concerned the matter is closed and your profile is marked accordingly.



FXChoice
 
Reply by George submitted Apr 9, 2021:
Dear pplfx,

We encourage you to submit an official complaint, which you have not yet done. The proper procedure for doing so is laid out in our Complaints Handling Procedure, but we’ll paste the pertinent part below for your convenience:

20.4. A complaint shall include:
a. your name;
b. your trading account number;
c. the affected transaction numbers, if applicable;
d. the time and date of the issue;
e. an accurate and clear description of the issue;
f. any supporting documentation, should you wish to provide.

Please send your complaint to backoffice@myfxchoice.com and we will respond fully, providing you with evidence of your abusive trading and why we were fully within our rights to cancel your orders.

FXChoice
Alberta, Canada,
Mar 30, 2021,
Registered user

This broker is convenient yet frustrating to deal with

Service use: Live

Length of use: over 1 Year

The reason why I picked this broker is because they offer cryptocurrency deposits which is very convenient for me. They offer a nice selection for trading but anything outside of major/minor forex pairs and sometimes gold/silver, the spreads are terrible, almost to the point that you will never be profitable if you are a scalper or day trader. I've read in previous comments that they are an ECN provider and offer live market data, I've never seen 100+pip spread on a minor forex pair before (pair I'm mentioning in GBPAUD), and I've been with a few other brokers.

Depositing is really quick, well of course they want your money, it better be quick. Withdrawal can be problematic, and of course you would would think no duh! They don't want money to leave! Well I tried to withdraw in USDT (Tether), they cancelled my transaction because they said the transaction fee's were too high and told me to do it again with BTC (Bitcoin). Well guess what?!?!?! Bitcoin transaction fee's are as high also! My other choice is LTC (Litecoin) which should have slightly lower fee's. Don't think that your withdrawal will be immediate, it takes 24 hours at least, or so they say. I call BS on that because they replied about my Tether situation in 4 hours. I guess the agent that was helping me in this matter did offer to escalate the withdrawal since they delayed me the first time. My suggestion to resolve the fee issue for crypto? Maybe try XRP or ADA they offer really great fee's for transactions. Dollars vs tens or hundreds of dollars with BTC or USDT.

Overall, would I go back to FXchoice? No, due to the trading experience.
 
Reply by George submitted Apr 1, 2021:
Dear cellulitis,

Thanks for your review.

We didn’t cancel your original USDT withdrawal. We wanted to let you know that a cheaper withdrawal option was available to you. We were trying to do you a favour, not make your experience with us more difficult. If there was any confusion, we, of course, apologise for the mix-up.

You eventually chose to withdraw via LTC; we note the payment was made promptly and within the standard timeframe.

Best wishes,
FXChoice
Virginia, USA,
Mar 14, 2021,
Registered user

Excellent Broker!

Service use: Live

Length of use: over 1 Year

Fxchoice is a excellent broker! As a matter of fact, I think they are the best! I really have not had any issues at all trading with them.

May 10, 2020 - 5 Stars Im from the United States and I have been using Fxchoice and I think they are great! I really do not have even 1 complaint. The deposits and withdrawals are fast. Many times within 1 hour!
I really can not say anything bad about them at all. They have a customer service team that is second to none!

Reply by George submitted May 12, 2020 Dear newbieT8der,

Thanks for your great review! We also like to think we have a customer service team ‘second to none’, but we’ll keep working hard to provide the services our clients know and love.

Best wishes,
FXChoice
 
New Jersey, USA,
Mar 11, 2021,
Registered user

Good as usual

Service use: Live

Length of use: 6-12 Months

Unfortunately I have to leave this broker, for the sole reason of the margin, due to bigger trades with a EA, besides everything else, its amazing, spot on customer service and fast withdrawals as usual.

Feb 24, 2021 - 5 Stars So I had a active account with them for 7 months, constant trading, no problems whatsoever, includes withdrawals, customer service, and decent leverage. Fortunately, I was grandfathered into the broker when they restricted U.S Clients, Only wish you guys had 1:500 leverage. Thank you guys!

Reply by George submitted Feb 25, 2021 Dear forexRetirement,

Thank you so much for praising our withdrawals, customer service and leverage. We wish you all the best and happy trading!

FXChoice
 
Hugo,
Zeist, Netherlands,
Mar 3, 2021,
Guest

Feedback and request for my pro active information

Service use: Live

Length of use: over 1 Year

As mentioned before, i am very pleased with Fxchoice as my main broker. I trade for several years, and have experience with many brokers. But Fxchoice (and i am not affiliated) is by far the best one out there.

Last friday some brokers, and also Fxchoice suffered from price quotation problems with their LP's regarding indices and stocks. When it happened my trades on Nasdaq on another broker ran in to the stop loss, and where stopped out at twice the amount of risk. A little while later Fxchoice postponed trading on Indices and Stocks.

There are a few things i want to adress here. First of all Fxchoice absolutely did the right thing by postponing trading. And secondly, after i mailed support about the slippage / wrong price per pip, they credited my account and compensated for the loss within a (week-) day.

About this all i am absolutely very satisfied. Overall Fxchoice has world class service when it comes to technical issues and correcting them.

But here we are. This all happened last friday, and now it is wednesday. Trading on indices is still not possible. That is way too long, in my opinion. But to be honest, i dont work at Fxchoice and i can not see 'if' and 'how' they are working on a solution. They notified all clients once via email. After that it has been silent for days in a row. I expect a lot more pro active communication and several daily updates from fxchoice regarding this matter.

I contacted support and get the same 'standard' answers all the time: " we are working on it, dont have a time line, and will inform you via email, and we are very sorry ".

My point is not that i dont have confidence in the fact that Fxchoice is doing everything they can. I believe they do just that. My point of criticism/ feedback is that they should give far more updates (via email) and insight in what they are doing to fix this urgent problem then they are doing now. Both myself and my partners all have 6-figure accounts with Fxchoice, and we mainly trade indices. I absolutely would expect Fxchoice to communicatie in more detail, and fare more frequently about this matter. One email about this is absolutely not sufficient. You should be more transparant in the process and giving clients insight in what you are doing to fix such a serious problem.

Feb 11, 2021 - 5 Stars I trade from the Netherlands and am very satisfied with Fxchoice. First of all i have been with FXchoice for at least two years now. Both as a MAM follower and as a live trader with my own trades. Service is great, both with the chat bot and via email.
Execution is fast and fair. Not much slippage even with large lot sizes.

Reply by George submitted Feb 16, 2021 Dear Hugo,



Thank you so much for praising our MAM platform, customer service and execution speed! It is our pleasure to read such positive feedback.



Best wishes and good luck!

FXChoice
 
Ontario, Canada,
Mar 1, 2021,
Registered user

Cheating Unethical Liars A broker that is Against You

Service use: Live

Length of use: over 1 Year

I've been with Fxchoice for about say 3 years now and All I can say is stay away and please listen to my warning. They will try just about anything to diminish your account and have the odds stacked against you as much as possible. Weather that's Disabling your trades. Putting your stop loss at the worst exist. or having spreads sudden increase and eat your account. Do not fall for the damage control team replying back with Blanket statements that only try to cover there ass. Believe me it's one of the worst mistakes i've made in my life. and all I can do is warn others. DO NOT JOIN THIS BROKER. they will do whatever they can to stack the odds against you. as Unfair as possible and then some. If you even have a genuine error that was caused by them Guess what? not our fault its in the TOS of our platform they will not listen to you if you have any problems you will only get robotic responses ontop of all these issues. you will get no guidance in terms of how to use MT4 you've been warned and trust me You'll thank me by not joining them You can see the chat logs that proof they just use copy paste blanket statements and make bullshit claims like *oh we are experiencing issues with our liqutity provider. our IT team is on it. but while you miss on the low of the market and wait for it to soar right back up. we will do our best to resolve the issue ^)^. expect that type of bullpoo.

--Chat Transcript --
Hello Robin. Welcome to FXChoice. How can I help?
Robin 18:08:05 I cannot the Dow jones what's going on
Alberto 18:08:17 At the moment only indices and stocks are not able to trade, the liquidity provider has some quoting issues, we are working with them to fix this issue ASAP, We apologize for the inconvenience
Alberto 18:08:21 Robin I am sorry to hear that , let me help you get that cleared up.
Alberto 18:09:05 We are verifying with the liquidity provider. please allow a few hours to resolve this issue
Robin 18:10:14 It sounds like you guys don't want us to buy the stock when it's cheap
Robin 18:10:25 Quoating issues I don't believe that
Robin 18:10:42 By than I will miss out on the low
Alberto 18:11:41 My apologies for the inconvenience At this moment tendency is on the low and this might continue. we need a few hours to resolve the isue.
Alberto 18:11:45 issue
Robin 18:12:02 Yeah by then it will be to late to trade
Alberto 18:12:52 Our IT department is working as we speak. Once again my apologies.
Alberto 18:12:56 Is there anything else I can assist you with Robin ?
Alberto 18:19:44 Robin, Thank you for visiting FXchoice. Please feel free to contact us again regarding any of your trading needs.
 
Forex Peace Army
Review moderation team note
Please post the rest of the chat transcripts HERE.
Reply by George submitted Mar 5, 2021:
Dear rkhammo,

On Friday, we encountered a technical situation with our liquidity provider that meant we had to suspend trading on indices and stocks temporarily. We have been working flat out to rectify the situation and we are still unsure when we can offer the instruments again.

The affected symbols have been placed in close-only mode. This means that clients cannot open new positions on indices and shares. For this we are truly sorry.

Please understand that we are not trying to hide this information – we are doing everything within our power to get these instruments back online and we hope for patience in this matter. We will notify all of our clients by email when the situation is resolved.

Best wishes,
FXChoice
The Great South, USA,
Feb 24, 2021,
Registered user

File this under Unethical: DO NO ARGUE WITH YOUR CUSTOMER

Service use: Live

This issue here may not be unique in case but the representative here is attempting to deflect the said issue back at my internet service provider, that our eyesight may be bad and slippage due to server/data lag doesn't happen only that blanket statement "no guarantees", WHILE I WAS THE ONE TRADING THE MARKET WHEN IT HAPPENED.
Basically, his initial attempt was to take matters into his own hands by drawing conclusions outside of his expertise, not verifying with the IT department and argue. Having grown tired of his cavalier attitude, I found no other way to get past this rep but to justifiably label him on the spot as a "LIAR". That's when the he threw me an email than to deal with his personal issues and disconnected my support chat...OK...

First off, we traders would very much rather spend our time focusing on MAKING MONEY than to fire up a chat with support just to be rebutted and confronted in such level of arrogance - so we are not suppose to make constructive complaints when our trading has been impacted by server quality? I'VE EVEN RECORDED THE SERVER LAG ON MY PHONE.

I'll be making arrangements to take my business over to a different broker as I read they don't have this level of arrogance seen here:

Topic: Server Issues MT4
Chat 2021.02.24
Miguel 16:51:19 Hello kyle. Welcome to FXChoice. How can I help?
kyle 16:51:27 hello again miguel
Miguel 16:51:41 Hey Kyle welcome back.
kyle 16:51:59 hey man high traffic with network when US stock market session opens at 830Am EST
kyle 16:52:09 why does the MT4 lag???
kyle 16:52:19 i make trade but gap when i close trade
Miguel 16:52:21 kyle, I am happy to help you with that.
Miguel 16:53:25 There have been no issues reported with the MT4 lagging, you are the first person reporting this issue, the issue may be with your service provider.
Miguel 16:55:51 Being a STP/ECN broker means we can't offer guaranteed fills for stop orders. We execute them at the best available price, but it may be with positive or negative slippage, as well as executed at the requested price. No NDD broker can offer guaranteed stop order fills because it is very high risk for the broker.
kyle 16:56:08 ehhh no brother
kyle 16:56:34 my mt4 is my primary account and i stay looking at it around the clock and i can say this lag is bad when market opens
kyle 16:56:36 i know the difference
kyle 16:56:48 because i closed 3 trades just now and all slipeed
kyle 16:56:51 slipped
Miguel 16:56:52 There are no issues reported with the MT4 playform
Miguel 16:57:13 Being a STP/ECN broker means we can't offer guaranteed fills for stop orders. We execute them at the best available price, but it may be with positive or negative slippage,
kyle 16:57:27 so you are blaming on my network just because i'm the first one to report this issue? is that right?
kyle 16:57:44 the customer is first to be wrong is that what you're saying?
kyle 16:58:05 wait
Miguel 16:58:08 I have just mentioned to you multiple times that there ate no issuesw reported with the MT4
kyle 16:58:20 ok so it's STP connection
Miguel 16:59:01 We are an STP/ECN broker.
kyle 16:59:02 but being STP connection should not lag the data...if i slip then it's over trading desk i understand, but your MT4 network platform is lagging for the stock index CFD
Miguel 16:59:38 Allow me to check with my IT department one moment
kyle 16:59:46 man go check
Miguel 16:59:53 One mo,ent
Miguel 16:59:58 Mom,net*
kyle 16:59:58 i see the data and the speed
kyle 17:00:02 quit lying
Miguel 17:00:15 What am I lying about?
kyle 17:00:25 i will post this on forex Peace army if i have to
kyle 17:01:00 you're refuting my claims before even checking with your IT department
kyle 17:01:03 now go check
Miguel 17:01:05 You can send an email directly to my IT department at backoffice@myfxchoice.com ATTN: IT dept
Miguel 17:01:16 kyle, Thank you for visiting FXchoice. Please feel free to contact us again regarding any of your trading needs.
 
Reply by George submitted Feb 25, 2021:
Dear FXTradr,

Please accept our sincere apologies; we are very sorry to learn that your experience with Miguel, our Customer Service Representative, was less than adequate.

He should have handled the situation differently and transferred your chat to someone with more authority.

We understand your frustration and we take full responsibility for the situation. Our Customer Service Representatives are given a set of guidelines for checking on clients' issues; however, in this case, clearly those standards were insufficient.

Please be assured that this type of situation will never happen again. We are investigating deeply, and we will contact you as soon as we can provide with more details.

We regret that we provided you with bad service and a poor customer experience — this is the exact opposite of what we pride ourselves on. We value our customers and understand how important it is to offer exceptional service.

We very much appreciate your business and hope that you will remain a valued customer.

FXChoice
cucuta, Colombia,
Feb 1, 2021,
Registered user

Best broker I have ever used in my life :)

Service use: Live

Length of use: over 1 Year

I just wanted to say thank to Fxchoice for being such a nice broker. I have been using Fxchoice for over a year, withouth any problem. They have a live chat that basically respond straightaway, fast withdrawal, and transparence. Today I made my first withdrawal (2.500) and received in less than a day! incredible! I won't change Fxchoice.


Status of your request 2347835 (Withdrawal Bitcoin (exchange)) has been updated: Completed.
 
Reply by George submitted Feb 2, 2021:
Dear danielt21,

We are delighted to read your review. You highlighted the fast response time of our live chat, fast withdrawals and transparency! Many thanks and we wish you all the best!

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