Unbiased Forex Broker Experts

MyFXChoice.com (Formerly FXChoice.com) Review Visit site

Updated: Feb 4, 2019
4.108 · 201 REVIEWS
Is this your company?

Other websites of this company include 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.

MyFXChoice.com (Formerly FXChoice.com)

Live discussion

Join live discussion of MyFXChoice.com (Formerly FXChoice.com) on our forum

Go to forums

MyFXChoice.com (Formerly FXChoice.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.

Video

Your company video here? Contact ad sales

Court cases

File a case

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty0
4.108 · 201 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Shervin,
Ontario, Canada,
Feb 2, 2019,
Guest

Cool & Reliable Broker!

FXChoice is a great broker! They also have a great support staff that will answer your questions around the clock, when you need them answered. I have had a MAM with them, that has been very easy and straightforward to setup. I have also had regular accounts with them & they never disappoint. Deposit(s) and Withdrawal(s) have also been pretty smooth as well with no issues. Now you can deposit & withdraw via Crypto-currencies which is pretty cool too.

Shervin M.
ScarletPipernel,
Canada,
Feb 1, 2019,
Registered user

FXChoice is the best but I can't live without bank transfer deposits and withdrawals

I just want to say that FXChoice have been my favorite broker by far of all the ones I've traded with, and I've traded with dozens.

Their spreads are reasonable, not the best, but fair. Their swap fees are fair. Their execution is very good. Their slippage is fair (works both ways).

Their office communication is good, and they just generally seem to be HONEST instead of trying to destroy you at every turn unlike MANY OTHERS.

This is why I'm saddened by their decision to suspend all bank wire transfers because of regulator pressure. It seems like regulation's main purpose isn't to protect the small guys but to keep profits in the hands of the big companies. It doesn't matter if a broker is regulated in the UK or Belize, what matters is HONESTY. Other brokers I can't name in this review are highly regulated in UK, Australia and USA and yet they act criminally.

Sadly, services like Skrill, UPay, Netpay, are simply no good for me as they charge criminally high fees. 6% is a decent yearly return and you expect me to pay that every time I deposit and withdraw? It's a deal breaker.

So goodbye FXCHoice, I will miss you terribly. I just hope I can find a broker that is half as good as you that offers bank transfer deposits and withdrawals.
katrina,
USA,
Jan 29, 2019,
Registered user

I requested to send a wire transfer deposit, got the instructions, went to bank and they could not find the matching info for fxchoice. finally getting on a live chat I am told the us banking laws changed and they can't accept wires. well you idiots tell me that before I waste my time driving to the bank and sitting there tying to get it done. this is not the first problem with them. not a happy customer

Jan 7, 2018 - 1 Star I have found fxchoice to be very unreliable, their site constantly goes down during trading hours right in the middle of a trade you get locked out. Also, they recently screwed me over $2 for a trade I never placed that just appeared on the screen as I sat watching the market. I was so shocked I didn't have time to even react before it shot up and stopped me out and then immediately shot down the other way. They refused to reimburse the amount of $2 and change. So they screw their clients over such an amount; their spreads are awful so I am done. BE VERY AWARE choose another broker and don't risk their shennanigens.

Reply by George submitted Jan 11, 2018 Dear Katrina,

Thank you for your feedback and airing your concerns on a public forum – it gives us the appropriate platform to defend ourselves from your scathing and completely unfounded allegations.

Firstly, let’s tackle this mysterious $2 phantom trade that ‘we’ just put on your account. We have already discussed this with you in Live Chat. That trade was opened from your IP address, meaning that you opened that trade. We have unequivocal proof that this is so.

Secondly, you claim that our website ‘is constantly down’. It is practically never down, and nobody has ever complained about it before. This, again, sounds like a problem at your end, not ours.

Thirdly, you claim that because we would not refund the $2 to you, that means we are a money grabbing organisation that ‘screws’ its clients. Katrina, we have the best customer service in the Forex industry and are famous for it. We care deeply about our clients’ success. If we refunded you $2, that would be an admittance of guilt. But we have already proven that we are not guilty, and it was, in fact, you who opened that trade.

To respond to your complaint, we have had to mobilise a number of members of staff whose service costs the company a lot more than $2. On principle, we do not give money to people for simply complaining when they are so clearly in the wrong. It would set an unsustainable precedent.

Good day to you

The FXChoice Team
Jaquelin,
USA,
Jan 26, 2019,
Guest

UPaycard is no good

Could you guys please add other withdrawal options for U.S. clients. UPaycard is an absolute hastle. Not a good option.

Feb 18, 2018 - No Rating I have an account with you guys and recently tried wiring funds into my account and unfortunately my bank denied the transfer, You guys should definitely include a form of VISA depositing method.

Reply by George submitted May 15, 2018 Dear Jaquelin,

We are sorry for the inconvenience that you experienced with your wire payment.

Please note that we receive dozens of payments from the US on a daily basis, so there shouldn't be any problem. If your bank cannot send a payment, please consider using another one. Our banking credentials should work from any bank in the US, save 1 or 2.

As for the VISA depositing method, we are working on adding new payment methods for our US customers and will keep clients informed of any progress.

If you have any questions, please get in touch with our support team who stand ready to assist you. Also please accept our sincere apologies for the delay in response - technical issues with FPA's reviewing system meant that we were unaware of your review until very recently.

Best wishes,

The FXChoice Team
Reply by George submitted Jan 31, 2019:
Dear Jaquelin,

Thank you for your feedback. Please contact us and provide more information about the problem you had while trying to use UPayCard so that we can better understand and resolve the issue, or suggest a different option for you.

We are working on adding more payment options, and we will notify all clients about our progress as soon as possible.

We hope for your understanding, and we are sorry for the inconvenience caused to you.

Best wishes,
FXChoice
Roomalahmadzai,
Usa, USA,
Jan 24, 2019,
Registered user

Stay away this is cam and fraud

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.

FXChoice
Poundtrader,
USA,
Jan 15, 2019,
Registered user

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
Tanveer baig,
Failabad, Pakistan,
Jan 11, 2019,
Registered user

Great broker

FX Choice is a very good broker.
I have done corpse with it. It was my fault but there was no mistake of the broker, it is very good to cry
Reply by George submitted Jan 29, 2019:
Dear Tanveer baig,

Many thanks for your great rating. We wish you all the best in your trading.

FXChoice
jacoblnrgn,
Kiev, Ukraine,
Jan 10, 2019,
Registered user

Worst than a market maker

I once made a review about the slippage on my trades and the representative here says I'm giving a harsh review based on my losses but that's not true. I'm a patience guy and I don't do things at the heat of it. Since the day I made the post, the slippage on my trades have been pretty normal. But the review didn't contain everything about fxchoice. Fxchoice is a good broker that replies to their clients that are newbie to trading and trading small money and insecure about trading but fxchoice is a terrible broker for a professional. They are not satisfied with their previous liquidity provider because they not making much profits as other market makers surrounding them in Belize. So they went for one with a bigger spread but a better rebate which gives professional traders a bad trading environment. Here is a recent chat I had with them tonight:

What is the nature of your enquiry? What rubbish is this? I can't modify my trades. I'm trying to modify a gbpusd order and it's showing me only eurusd
How did you learn about us? Fpa

Chat 2019.01.11
Jacob
01:13:15 This is not the first time your platform is doing this rubbish
Miguel
01:13:25 Hello Jacob. Welcome to FXChoice.
Jacob
01:14:41 Why it's some problem with you guys all the time? Why can't you offer your clients a good liquidity provider instead of this shitty one just because you get more rebate from them?
Miguel
01:15:35 Jacob, thanks for stopping by I am happy to help you with that.
Miguel
01:16:48 We have not had any issues with our Liquidity provider Jacob
Jacob
01:17:17 The only thing good about you guys is your customer support. You guys don't deserve the high rating. A broker giving their clients the worst environment to make money is a bad broker to me. Good support is not my money your environment and conditions are making me lose
Miguel
01:18:49 I sincerely regret any issue that you have experienced with any of our services Jacob do you have a specific issue that you woulkd like us to review
Jacob
01:19:40 On 24th of December, your servers went offline at 23.37 and only came back online at 00.07 on the 26th. You guys just are not professional
Jacob
01:20:19 You take your clients for a joke and treat it like a brokerage run at someone's backyard at home
Miguel
01:21:10 This was due to the holidays and to low liquidity Jacob as not many clients where operating
Jacob
01:21:46 You still don't get the issue which I stated from the beginning that the platform is fucked up and showing me error and my order that I placed 6 hours ago doesn't exit
Jacob
01:22:08 So the clients operating don't mean nothing to your company
Jacob
01:22:20 What a big joke
Jacob
01:22:35 Thank you for your time.

So I don't really understand why traders giving them these high ratings. If it were period before they changed their liquidity provider, yes, they were one of the best but now, they far from good. because what's the point of saying sorry but keep doing same rubbish over and over again.
My fellow traders, you can be the judge of it all

Dec 13, 2018 - 1 Star I've been with this broker for a long time now and i've even refer many people to them including my family. And I've made profit and losses through them. And what i can say is that if you love your money, STAY AWAY FROM FXCHOICE!
The slippages on stop loss order during no economic news volatility is ridiculous. All my stop loss ends in slippages. And i know they explain like you get more profit for slippage for take profits too but that's a lie. Every time a trade hits my Stop i get slipped and never during take profits. The one that annoyed me the most was on my recent trade on gold. no economic news, no breaking news and i got slipped 8 pips (80 cents) and with lot size of 0,7 . Just imagine how bitter that was, to get slipped for no reason at all and that big. What I want to know is, how much they would have slipped me if it was en economics news volatile period. And to top it all, their spread is terrible compared to other brokers. I won't be using them if i wasn't having problem with my bank not being able to take online refund back from my old brokerage company.

Reply by George submitted Dec 20, 2018 Dear jacoblnrgn,



Thank you for sharing your recent experience. We would also like to take this opportunity to thank you for referring us to other clients. We appreciate it.



Reading your harsh comment about staying away from us, we believe this is very much born of frustration. As we explained in our email communication with you, slippage can go both ways: positively or negatively. Furthermore, your orders were executed during high volatility, and not in normal trading conditions as you stated in your post.



We explained what can happen when comparing brokers: the remoteness of servers, the internet speed of different providers, different liquidity providers for the same assets and different account types can accrue significant differences. It is likely that given different conditions, your order would have been executed better at FXChoice than at another broker.



We hope for your understanding and wish you the best of luck in your future trading.



FXChoice
Reply by George submitted Jan 21, 2019:
Dear jacoblnrgn,

Nice to see you again here.

You mentioned that your slippage has been normal since you wrote the review, but we assure you that this has absolutely nothing to do with you writing it. We do not whimsically alter our trading conditions to appease an irate client. Our representative clearly and simply explained that the reason for the slippage was the holidays and the low liquidity.

Our brokerage offers the most competitive trading conditions for beginners and advanced traders alike. We care dearly about all clients, and we reiterate that we do not control trades in any way whatsoever.

Additionally, we would like to mention that we always notify our clients via email about upcoming holidays, trading hours, customer support operating hours etc. You should have received an email on 20th December 2018, stating that our Support Team would be available as usual and would respond to your requests on a 24/5 basis, except on 25th December and 1st January. Also, we sent very detailed market volatility information concerning trading between 24th December and 2nd January 2018.

Finally, we recommend extra caution when trading during public holidays: reduced levels of liquidity are always expected, which are likely to result in wider spreads. This may cause significant slippage when opening or closing your trades.

Best wishes,
FXChoice
Mike T,
Philadelphia, USA,
Dec 29, 2018,
Guest

Great solid broker

Great solid broker. I have been trading with them for two + years with no issues. They continuously adapt to keep withdrawals/deposits quick and easy as regulations seem to make transferring USD harder every day for everyone except US brokers. Their client portal is robust allowing you to set up accounts and transfer money around, change your leverage, add demo accounts. They keep in touch with emails concerning trade conditions or admin changes etc. and always answer inquires. I am happy with their ECN spreads, costs and swap rates. There may be brokers with slighter better spreads and costs out there but none that I trust.
Reply by George submitted Jan 3, 2019:
Dear Mike T,

Reading your comment about deposits and withdrawals gives us the impression that you are keeping yourself abreast with the recent escalation concerning banks in the US, and we really appreciate it. As you mentioned, we try to adapt to keep the transaction process as painless as possible, but it is not always within our full control.

As for the client’s Backoffice, we are working around the clock to provide the best possible experience for our valued clients.

We thank you for taking the time to write this positive feedback, your loyalty, and we wish you all the very best in your trading!

FXChoice
Ibrahim Ajredini,
New York, USA,
Dec 26, 2018,
Guest

Manipulaters

These horrible people will raise the spread purposely just enough to knock you out the trade right before it goes in your favor. It’s happened to me multiple times. Save yourself the time and look for a different broker.
Reply by George submitted Dec 31, 2018:
Dear Ibrahim Ajredini,

Thank you for your feedback. Once again, we would like to inform you that we do not manipulate any of the trades as we are an STP Broker (we pass all client orders to our LPs and to the market).

We have provided you with all the relevant information, including the price-history for the concerned currency pair, as well as explaining that the liquidity in the market is extremely low during the festive season. Spreads depend on the liquidity and volatility of the market, and are not controlled in any way at all.

We hope for your understanding and wish you a successful year ahead!

FXChoice