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MyFXChoice.com Review Visit site

Updated: Aug 20, 2019
4.067 · 219 REVIEWS
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Other websites of this company include FXChoice.com

About MyFXChoice.com

MyFXChoice is a forex broker. My FX Choice offers the MT4, MT5 and MT Mobile trading currency platforms. MyFXChoice.com offers currency pairs, metals and cfds for your personal investment and trading options.

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
Dealing Desk: No
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies:(35+)
Cryptocurrencies:(2) Bitcoin, Litecoin, Ethereum
CFD:(5+)
EAs/Robots: Yes
Scalping: Yes
MAM: Yes
PAMM: No
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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4.067 · 219 REVIEWS
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Consumer Reviews

CT, USA,
Aug 16, 2019,
Registered user

Very happy with fxchoice

Service use: Live

Length of use: over 1 Year

Jumped back into the fx ring after using American FXCM many years ago. Was profitable with them, but obviously they were cheats and got the boot.

After realizing the stricter USA rules-- 50:1 leverage max, no hedging, FIFO rule (first in, first out)-- I had to find something better. Enter FXChoice.

I'm writing this review because, being American, we tend not to trust overseas forex brokers w/o USA regulation (ironic). Though after almost 2 years with them, everything has been great.

Reasonable spreads, daily confirmations, and can deposit/withdraw relatively easily. I've run into problems depositing, never withdrawing. The problem was an increase to depositing via bank wire transfer. It is now $3000 min. It used to be much lower... something like $100. I haven't withdrawn in a while but seems the minimum is $1000 for a bank account. And being in the USA, many options are limited. That is somewhat of a problem. Though I have confidence this broker will find new and better ways to withdraw.

But what's great about fxchoice is they find ways (pairing with companies world wide to ensure it's convenient and reasonable for average joe's and joanne's) to use their service. So now I use V-load, with bonus incentives like 0% fee by fxchoice, which they've honored every time. And I can buy vouchers in low denominations, easily depositing them in just minutes. MUCH easier than bank transfer.

Before this starts sounding like an advertisement, I'll end with saying I now trust fxchoice as my broker. Their customer service is actually there via chat or phone. Any questions I've had, they answered. Max leverage is 200:1 (4x that of American) which is much more reasonable to make some money with. And you can hedge to your heart's content. No FIFO rule.

While nothing is 100% safe, if you're a trader, you understand risk/reward. I've had enough dealings with this broker to know the risk is in the market and FXChoice doesn't add any more risk to the table.

Thank you for being an honest broker.
Reply by George submitted Aug 20, 2019:
Dear PippyLongStalkings

We are over the moon to read such a flattering review and show of support! We are deeply grateful!

Vload has only recently been released to our US clients for withdrawal/deposit, so it is great to hear you are enjoying it. We are always looking to introduce cheaper, faster and more efficient options for our clients so they don’t have to rely on bank transactions (which can be time-consuming and expensive).

Once again, thank you so much for your review and we wish you a bright trading future with us!

Best wishes,

FXChoice
California, USA,
Aug 6, 2019,
Registered user

Use them all the time

Service use: Live

Length of use: over 1 Year

I deposited and withdrew thousands of dollar with them and their execution is excellent. Overall, the best broker if you want to trade forex and have some freedom. I didn't do well in forex, because at this point I believe it is a casino, with brokers and banks making money from spread, swap etc and that is their "edge" . The brokers hoensty is there though.
Reply by George submitted Aug 8, 2019:
Dear Asuliman321,

Thanks a million for your 5* review. We’re pleased to see that you had a good experience with depositing and withdrawing: we’ve made no secret that this is top of our agenda at the moment.

Best wishes,

FXChoice
prague, Czech Republic,
Aug 5, 2019,
Registered user

So far so good

Service use: Live

Length of use: 3-6 Months

This broker is ok, seems legit even in the offshore jurisdiction.
However, one thing really annoys me a LOT and it needs STRONG improvement - their withdrawal options.
I deposited by a credit card, but they don't allow CC withdrawals. Strange money can go IN but it can't go OUT the same way. They also don't allow bank wires which should be absolute standard and minimum. They used epayments.com, but again, it's not valid anymore.
Neteller, paypal or skrill also don't work.
With FxChoice you have no CHOICE to withdraw your money, except very inconvenient Crypto exchanges.
1 trader has found this review helpful
Reply by George submitted Aug 6, 2019:
Dear Mick81,

Thanks for your 5* review. We are pleased that you’ve had a very positive experience with us.

You say that we need to improve our deposit and withdrawal options. We can assure you that we are working very hard to make deposits and withdrawals easier.

Your claim that it is not possible to withdraw the same way you deposited has confused us though. In fact, our clients should normally withdraw the same way as they deposited. However, we do not permit withdrawals via bank card for EU citizens due to regulatory restrictions. If you have any questions about withdrawing, please get in touch with us and we can advise you of the best way to withdraw.

Also, we do offer bank transfers. The minimum amount is USD 1000. If your balance was less than this amount, the option would not have been available to you in Backoffice.

Best wishes.

FXChoice
Makkah, Saudi Arabia,
Aug 3, 2019,
Registered user

Legit broker

Service use: Live

Length of use: over 1 Year

this broker is legit. been a trader for more than 5 years.
i tried EA's, scalping, renko and point&figure.
can't complain. everything is smooth as butter.
deposit and withdraw is smooth as well.
Reply by George submitted Aug 5, 2019:
Dear Mohammed,

Thanks for your great review!

Offering a diverse range of fast and affordable deposit/withdrawal options is top of our agenda at the moment, so we’re pleased to see our efforts are paying dividends.

Good luck!

FXChoice
Sunu,
Honolulu, USA,
Jul 19, 2019,
Guest

So far only tried MT4 on their VPS service - unethical.

Service use: Live

Length of use: 6-12 Months

So far I've only tried to use them via MT4 on their VPS service. On their website they advertise:

The FXChoice VPS is a service that gives you access to a Virtual Private Server. In simple terms, VPS is a remote computer, very much like your own, except that it is on 24 hours a day, 7 days a week and there is an army of IT engineers constantly watching it to ensure its stability... VPS is a great way to ensure that your EA runs uninterrupted.

It makes sense - why else would you pay ~50 USD a month to rent a 2gb windows VM? But these are blatant lies. They send an email every single week warning about maintenance every Saturday morning, and that it's your responsibility to check that it's running afterwards. And they still don't maintain the servers. Often I've been forced by updates in the middle of the week during trading time to restart the server. For me the last straw was after I stopped logging in for a while (but continued to pay for the service) and found out the next time I logged in that it wasn't working. I created a ticket and explained exactly what the problem was (I even put it in the title: VPS Service MT4 (Build 1090) Not Connecting - Old Version). Somehow they thought it was a password issue. Finally I got them to update MT4 so it worked again, but they still said they only support the VM, not the MT4 platform! So if you want a VM, go to an actual cloud provider like Amazon AWS. I tried to cancel this service the day before it was set to renew, but they already charged me for the following month, so I"m still paying for it...
Reply by George submitted Jul 24, 2019:
Dear Sunu,

Thanks for your review. We have found you in our system and we’re familiar with your case, so we’ll try and break it down for other readers.

You state that:
‘I stopped logging in for a while (but continued to pay for the service) and found out the next time I logged in that it wasn't working.’

Indeed you did not use your VPS for several months. You contacted us seeking a refund for the months that the VPS was not connecting to MT4, which was from 1st March. However, we sent out an email to all of our clients advising them to update their MT4 as older versions would not work after 1st March. The accompanying article is still on our website, should you wish to read it: https://en.myfxchoice.com/fx-choice-news/update-your-metatrader-4-app-by-1st-march-2019/

If you do not read our emails to you, there’s not much we can do. Your MT4 was out of date.

We understand your frustration about being charged after you’d submitted the cancellation request. Please contact our live chat and explain the issue and we’ll cancel VPS immediately and refund your last charge.

Best wishes,
FXChoice
POS, Trinidad and Tobago,
Jul 17, 2019,
Registered user

Easy to Deposit, Hell to withdraw

Service use: Live

I had $640 US in my account that I tried to withdraw, they will not allow me to withdraw it via credit card stating that the amount to be withdrawn cannot exceed the deposit limit. Tried to use wire transfer then but they said that the amount is insufficient to do a transfer, spoke to a rep about my options and she said that I can use skrill, opened a skrill account but the option to withdraw via skrill is not available, another rep told me to open a bitcoin account. I am tired of the back and fourth process, they have no issues with letting you deposit money into the account but it is hell to get it out. I am happy In a sense I did not make a fortune because it seems like I would not have been allowed to enjoy my money. Be very Careful before you deposit your hard earned money with this broker.
1 trader has found this review helpful
Reply by George submitted Jul 19, 2019:
Dear Divvy,

Thanks for taking the time to write a review.

As you have used an alias, it is impossible to address your review directly, but your location helps us out.

Indeed you’re correct: clients from Trinidad & Tobago cannot withdraw via bank card and the minimum withdrawal amount via Wire Transfer is $1000. Of course, we apologise for the inconvenience, but these conditions are made clear to all of our clients on our website and in Backoffice.

You suggest that clients should be aware of depositing to FXChoice because it is ‘hell’ to get back. Nothing could be further from the truth. We offer our clients numerous options to withdraw, but it does depend on the country of residence. Clients from Trinidad & Tobago can withdraw via Skrill, as you were advised, but you say this option was not available. Why was that? All we ask is a screenshot of your Skrill ID and client name so we can be assured that we’re not sending funds to a third party: you obviously haven’t yet done that.

Please get in touch with us via Live Chat so that we can disperse your funds to your Skrill account.

In future, we suggest contacting us directly if you have a withdrawal problem so we can immediately solve your issue.

Best wishes,

FXChoice
USA, USA,
Jul 11, 2019,
Registered user

same as market maker

Service use: Live

Length of use: 0-3 Months

spreads where great at first then after a few weeks were raised higher then forex.com market maker spreads. Over 25 pip stop hunts.
Reply by George submitted Jul 15, 2019:
Dear Markduk,

Thanks for your review.

We are sorry to hear that you’re unhappy with our spreads; we regard low spreads as a cornerstone of our business.

We have recently switched to a new liquidity provider. This could be the reason you’re seeing wider-than-usual spreads, but the difference should be negligible. We are working closely with our new provider to bring the spreads back to normal.

If you’re concerned about unusually wide spreads, we’d recommend contacting us first so we can address the problem directly.

Best wishes,

FXChoice
Devon,
Alaska, USA,
Jul 3, 2019,
Guest

IACTIVE ICONS DURING LIVE TRADES

Service use: Live

Length of use: 3-6 Months

On multiple occassions FXCHOICE has failed to address INACTIVE ICONS during LIVE trades! For example, in a BTCUSD Trade during Open New York session after placing my trade the ICON goes INACTIVE not allowing me to set STOP LOSS or TAKE PROFITS. IMAGINE that!!! It has happened one too many times for me. My recommendation if you're trading CRYPTO is NOT to use FXCHOICE!!! I BELIEVE they ONLY offer THREE CRYPTO PAIRS TO BATE ONE IN!!!
Reply by George submitted Jul 5, 2019:
Dear Devon,

Thanks for your review. We have already responded to your query in our ticket system, but we’ll lay out our response here for all to see.

On Tuesday we sent out an email to all clients warning that US Independence Day would affect trading hours for some instruments. We made it clear that crypto trading would close early on Wednesday at 20:15 (server time). We also posted the changes on our website: https://bit.ly/329wNbg

You opened a ticket with us claiming that you couldn’t alter the trade after that time. Of course, we apologise for the inconvenience, but we gave all clients advanced warning of the early close. There’s not much more we can do on that front.

Now, you say this has happened a few other times. If you are talking about the daily break on BTCUSD between 23:45 and 01:00 (server time), then the trading times per instrument are published on our website and they are also available within the MetaTrader terminal.

If you have any questions about instrument availability or trading hours, please do not hesitate to get in touch and we’ll be more than happy to help.

Best wishes,

FXChoice
Austin, TX, USA,
Jun 26, 2019,
Registered user

stops not active during rollover or weekend trading

Service use: Live

Length of use: 0-3 Months

You'd think your position was protected when you set at stop loss. With this broker, it is not.

I get it that during rollover periods or their weekend that I wouldn't be able to manage my positions. But to be totally unprotected? This is s***.

This broker does not recognize stops while their trading hours are not in session., i.e. during rollover (2.5 hours long) or weekends. Meaning I'm liable for a position I can't manage or even exit. Stops reactivate as soon as their hours resume, meaning that if the market opens below my stop, the market open price is the price that gets filled, even if its 100s of pips below my stop.

Their rollover period is about 2 1/2 hours each day. This is insanity in a fast moving market. They advertize that they are a 24x5 broker; this is flat wrong. They're more like 22.5x5.
Reply by George submitted Jun 28, 2019:
Dear John Jensen,

Thanks for taking the time to write a review. We wish you’d also taken the time to respond to our original communication about this matter which we sent to you over a week before you posted.

The trade you are referring to did indeed trigger the Stop Loss at a worse price than you set. This is because you were trading crypto and over the weekend the price of the instrument moved significantly. When the market reopened on Monday the price was beyond your SL, which was immediately triggered.

We offer derivative trading instruments for cryptocurrencies and not the underlying assets themselves.

Our trading execution rules differ from those of the underlying instruments on crypto exchanges. We make this clear and have published the specifications on our website here: https://en.myfxchoice.com/trading/cryptocurrencies/ and they are also stated within the MetaTrader terminal.

We assume any client trading CFD instruments has read, understood and agreed to the execution rules and specifications of the instrument, which includes the trading hours.

We reconfirm that all trades were executed correctly.

Best wishes,

FXChoice
ohio, USA,
Jun 24, 2019,
Registered user

Service use: Live

Length of use: over 1 Year

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