FXChoice Review

3.88 · 269 REVIEWS
Updated: Jul 9, 2020 · MyFXChoice.com  · Is this your company?

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

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

Live discussion

Join live discussion of MyFXChoice.com on our forum

Go to forums

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.

Video

Your company video here? Contact ad sales

3.88 · 269 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!

Traders Reviews

Chong,
Singapore, Singapore,
Jul 4, 2020,
Guest

A very reliable, trouble free broker

Service use: Live

Length of use: over 1 Year

They never call you and ask for more money to deposit, never try to offer bonuses that will complicate your withdrawal process, and you can even withdraw their bonuses if you meet the trading volume. How nice! They never stop or try to delay you from withdrawing your money. Their customer chat service is simply awesome. Too bad they only offer leverage up to 1:200. Would be good if they could add more higher leverage options like 1:500, 1:1000 and even 1:2000 if possible.

May 26, 2020 - 5 Stars 1. Their customer service chat is excellent. Very helpful and promptly.
2. Withdrawal process so far has no problem.
3. Unlike many other shady brokers who constantly called you up asking for more deposit, FxChoice never bother you with phone calls at all. They do things by the book and let you trade freely according to your own plans. Therefore, I consider them to be a very realiable broker.

Reply by George submitted May 27, 2020 Dear Chong,



Thank you so much for your positive review. Great to see that you’ve praised our customer service and withdrawals – two areas we work very hard on.



Best wishes,



FXChoice
 
Reply by George submitted Jul 7, 2020:
Dear Chong,

Thanks for re-reviewing us so positively!

We're glad to read that you managed to withdraw the bonus amount after meeting the required volume. As for withdrawals, our finance department works hard to get them processed within one business day.

Best wishes and good luck!
USA, USA,
Jun 19, 2020,
Registered user

Love it

Service use: Live

Length of use: over 1 Year

I love how quickly my deposits and withdrawals are as well as how available support. I have NEVER had an issue with anything!

Spreads are great and have experienced broker manipulation, which is a huge plus for me
 
Reply by George submitted Jun 22, 2020:
Dear Handsome Kelly,

Thank you so much for your review. Great to see that you’re enjoying our deposit and withdrawal options and the availability of customer service.

Best wishes
FXChoice
Willem,
Pretoria, South Africa,
Jun 16, 2020,
Guest

Overall very impressed!!

Service use: Live

Length of use: 0-3 Months

I am impressed with the web functionality wrt creating own accounts, exchanging crypto and currency and handling of wallets.......well done.

Service is also excellent.
 
Reply by George submitted Jun 19, 2020:
Dear Willem,

Thanks for your kind words on a wide range of our services.

We wish you the best of luck!

FXChoice
Egypt, Egypt,
May 29, 2020,
Registered user

Poor execution causing losses to users (or no execution at all)

Service use: Live

Length of use: over 1 Year

Aside from high slippage which I got used to..

Today I had a pending order which wasn't executed although price way exceeded it (Taking spread into consideration)

Account No. : 190873
Order No. : 35726299
Order Type: Buy limit @ 25055
Instrument: US30Index
Price reached 25024.1

Thanks to note that I had an excess in the sell side also with 0.03 which equals pending order size so it should be executed smoothly.

Contacted LiveChat.. At first the Rep. Adked If I have any other pending order.. Strange that he couldn't look into that

After that, color he told me it might be insufficient balance so I told him the above about the excess of sell order and told him if the claim is correct so I shouldn't be able to Open it now.. He replies that it might be at that time! After I confirmed he then told me to contact the back office. Asked for SLA but he even didn't know what SLA is.. I felt like a Chatbot on the other side with a lost of troubleshooting and ready to send messages

Thanks to note that after that I had to close an order to free some margin as a consequence of that!

Chat transcript along with MT4 terminal snapshot can be provided upon request also if needed

I need a full refund for this mess also to improve SLA for such trade execution disputed cases
  1 trader has found this review helpful
Reply by George submitted Jun 1, 2020:
Dear RamiSakr,

You registered a complaint in our system about this order and then published your review on FPA without even waiting for our response.

We are sorry that you felt as if you were talking to a ‘Chatbot’ – we can assure you that all of our customer service representatives are real people with their main concern being your best trading interests.

If you’d just waited for our response, you would have seen that indeed yes, you are right. The price did hit your pending order level. It was not executed because we only received one tick at that price, and then it returned immediately; the platform requires at least two ticks to open the pending order. In situations like these, we always side with the client, and we opened the trade for you.

Best wishes
FXChoice
St. Louis, USA,
May 29, 2020,
Registered user

Great experience so far. FAST withdrawal!!

Service use: Live

Length of use: 0-3 Months

Been using them for for a short while. Was using another broker but I didn’t like their spreads and I constantly had problems with their mt4 terminal. No problems with fxchoice terminal and spreads have been fine. Went live beginning of April (just under 2 months ago) and turned $100 into $38,000 (true story I promise lol). Today I withdrew half the account. I believe the withdrawal process was less than 24 hours. I was afraid they may not pay me since I made the money so quickly but they honored it with no problem. I hope to open a MAM with them, but I don’t like the emphasize on social media when applying for it. I understand they want me to bring clients but also feel like I may get skipped if I don’t have a bigger social media presence. I have not applied for it yet but I hope the process of getting approved is easy. So far I think they are a great broker and I hope we have a bright future together.
 
Reply by George submitted Jun 1, 2020:
Dear sgsummers,

Thank you so much for your kind review.

Best wishes and happy trading!
FXChoice
Prague, Czech Republic,
May 25, 2020,
Registered user

Never more

Service use: Live

Length of use: 3-6 Months

well first you cant make normal deposited from bank...
after BTC deposit youll pay 10% fee (and you must wait X hours) for deposit and as a kind of "good faith"
they gave it those 10% to your acc as a bonus... but only for a month and then take it back.
But all this was piece of cake. I trade WTI in time when it drops to 0 which wasnt bad it was good actually
but these stealers, thiefs, scammers etc. put swaps on every position which isnt weird but swaps was $2000 per 0.1 lot.
So i started saving my account every profit I made I cut piece of swap and when it started to look good
they came up with new high .... they put another swaps 2 weeks earlier just to "protect clients" as they said....
easy money right (for them ofc). so if you considering trade with them, dont. Im glad they take alot of time making my MaM
account so my clients didnt send money to them.
 
Reply by George submitted May 26, 2020:
Dear Nemi1,

Thanks for your review. There are so many things to address here.

Firstly, your claim that there is a 10% fee on BTC Deposits is incorrect – we have no fees on BTC deposits and conversions. Also, you claim that BTC deposits take 24 hours – again incorrect. They take as long as the blockchain confirmations, which are never that long.

Secondly, we offer a bonus to our clients with a view to give them a head start in tackling the forex market. We do not ‘take it back’ in a month as you claim. We recommend you read the T&Cs of the bonus which clearly state what you need to do to keep the bonus.

Thirdly, we have checked our records and can see that you received all of our emails regarding the WTI Crude price collapse. You should know by now that the WTI ‘swaps’ were NOT swaps, but adjustments to cancel out any profit/loss as the price feed switched from the May to the June contract. You cannot open a trade on the May contract and close on the June contract whilst keeping the same opening price. The adjustment simulates the closing and reopening of your trade.

Fourthly, as an EU citizen, you cannot use wire transfers directly. However, there are many payment providers you could have used that offer wire transfers.

FXChoice
RSA, South Africa,
May 25, 2020,
Registered user

This guys are robbers.

Length of use: over 1 Year

Myfxchoice was recommended to me and my nephew,my nephew was responsible for the acc. Everthing went well until we decided to close the account.. That is when the problems started.. The said we cannot use the card used for deposit to do complete withdrawal.interesting cause normaly its highly recommended that you use the same card/ methods.
We offered to use btc wallet...they went silence on us....when I made follow ups,they promised to send an email to my nephew to sort out the issue,that email never came....someone we recommended is having the same problem, they don't want him to close the account... Its true,they change their rule to rob people of their money...our acc:32973 still had ± $380 they withholding from us....this is a sick strategy to keep people who want to close their acc,trading with them against their will....why are you not paying our money???? that is scamming
 
Reply by George submitted May 26, 2020:
Dear Hunterblizzard,

You deposited using different bank cards then tried to withdraw more than you deposited all back to one card. This is technically impossible as Visa only allows the refund of the initial deposit. We notified you of this technical restriction and you eventually withdrew nearly all of your funds correctly. We see your current balance with us is only a couple of dollars.

Why are you saying that we’re ‘robbers’ and that we’re ‘withholding’ your funds? We feel your review is extremely unfair. You are the one that made the mistake. We made it very clear what the problem was and you rectified it quickly.

FXChoice
uk, United Kingdom,
May 22, 2020,
Registered user

Easy to pass on this one....

Service use: Live

Length of use: 0-3 Months

Plenty of choice here. Spreads seem ok and withdrawals are relatively fast. However, there are fees on most payment methods which is not good to see. Also, they don't yet operate 24/7 so will lose out to their competitors who do. Pretty easy to skip this broker...
 
Reply by George submitted May 26, 2020:
Dear DaveT,

You have not provided your account info so we cannot directly address your issues with our withdrawal fees. We need to know exactly which method you used to see if we could perhaps offer an alternative option.

Please get in touch with us so we can address your review properly.

FXChoice
Gzira, Malta,
May 22, 2020,
Registered user

middle range

Service use: Demo

Length of use: 0-3 Months

middle range in all sense- customer support is hit and miss - slow replies at time, and up to 40 min wait for a response. unacceptable imo.

okay range of assets but think they could add more.

did not go live as was not satisfied with the demo experience.
 
Reply by George submitted May 26, 2020:
Dear Christina,

You have not provided your account info so we cannot verify any of your claims. We have not had any contact with a client from Malta since February and there was no 40min wait with that client.

Please contact us so we can get to the bottom of this.

FXChoice
Pennsylvania, USA,
May 20, 2020,
Registered user

Great broker

Service use: Live

Length of use: 0-3 Months

Professional broker, spreads are fair, no manipulation. Updates on trading schedules for volatility. Customer service is top notch and depisits and withdraws are fast
 
Reply by George submitted May 22, 2020:
Dear Philly B,

We are very grateful for your positive review of our company and services.

Thanks again and we wish you the best of luck.

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