FXChoice Review

3.924 · 285 REVIEWS

FXChoice

Updated: Nov 23, 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

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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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3.924 · 285 REVIEWS
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Traders Reviews

Ohio, USA,
Aug 26, 2020,
Registered user

My Dream Came True

Service use: Live

Length of use: over 1 Year

fxchoice have lower their margin call and stop out level on their pro account , love this broker, keep up the good work

Mar 16, 2020 - 5 Stars Fx Choice is the most trustworthy offshore broker for all traders they pay withdrawals on time and never no funny business with my trading , keep up the good work Fx Choice

Jun 24, 2019 - 5 Stars keep up the good work you guys are the best out there, great service and always pay withdrawals

Mar 8, 2019 - 5 Stars great broker i been a supporter of fxchoice for many years i wish they would lower their Margin call/ Margin stop: 100/80 on their pro account to maybe Margin call/ Margin stop: 70/50 or lower.

Jan 15, 2019 - 5 Stars so i decided to stay with FXCHOICE, there are brokers with better spreads but i can't trust them, fxchoice always pay withdrawals and do so very fast . a broker that pays withdrawal small and large outweigh better spread brokers any day.

Dec 14, 2018 - 4 Stars fxchoice is a great broker but i must move on, i trade the classic account because of the lower margin call / stop out levels, i must move on because the cost of doing business is just to expensive with the higher spreads and the swap rates are killing my profits.

Jul 4, 2018 - 5 Stars Best Damn Broker For U.S. Traders.
customer service is the best, deposit and withdrawal top notch and very trustworthy. for U.S. traders this is the broker you want and need.

Jun 14, 2018 - 5 Stars im very concern that FXCHOICE has been throttling connections of traders, they are a good broker but they might be doing something to cover there butts . there update on myfxbook and other has been very slow

Mar 25, 2018 - 3 Stars Epayment no longer except US Citizens. and you can't convert your bitcoin to fiat currency so where back to depositing by wire transfer with fxchoice. i hope they find better payment options, not everyone has 2K to wire just to get the fee back.

Nov 25, 2017 - 4 Stars need to add paypal as deposit, i like bitcoin but at the moment can't convert bitcoin to my USD account, also would be nice if they can add credit card deposit , other then that the best broker for U.S. traders

Oct 5, 2017 - 5 Stars they made my dream come true, you no longer have to have a bitcoin trading account to withdraw with bitcoin. thank you fxchoice

May 17, 2017 - No Rating question for fxchoice, on your website it say you take bitcoin for deposit but it don't say if you allow withdrawal with bitcoin

Mar 11, 2017 - 4 Stars will give 5 stars if they had credit card deposit, other then that they are a good broker, they had credit card deposit just last month don't know what happen to it

Reply by George submitted May 19, 2017 Hello Poundtrader,

Thank you for your message. Bitcoin is included as an option for depositing and withdrawing. Please visit our “Deposits and Withdrawals” page to see all of our payment methods. You can find this page under the “Accounts” tab from the main menu. You can click on each one of the payment options to read details such as process, instructions and other information.

Should you have any further questions or need assistance, please do not hesitate to contact us.

Reply by George submitted Dec 11, 2017 Dear Poundtrader,

Thank you again for another valuable review. As we have explained in similar comments by other users, Bitcoin deposits to a fiat-denominated account (such as USD and EUR) are currently suspended until further notice.

Please note that for our US clients we reimburse any wire transfer fees for deposits of $1000 and over.

Best wishes,

The FXChoice Team

Reply by George submitted May 15, 2018 Dear Poundtrader,

Thank you for your message.

We are sorry that a third-party company has affected your experience trading with us. Please note that our clients can deposit and withdraw Bitcoin and Bitcoin Cash to/from the corresponding accounts. If you want to make a smaller deposit, we would recommend that you open a Bitcoin-denominated (or Bitcoin Cash-denominated) account and fund it with Bitcoin (Bitcoin Cash).

As per your concern about the wire transfer amount, US clients can deposit only $1,000 to qualify for bank fee reimbursal.

We are working on adding new payment methods for our US customers and will keep clients informed of any progress.

Meanwhile, should you have any questions, our support team will be glad to assist you. Please accept our sincere apologies for the delay in response regarding the technical issues with the website’s (FPA) reviewing system.

Best wishes,

The FXChoice Team

Reply by George submitted Jun 19, 2018 Hello Poundtrader,

Thank you for your review and close attention to our services. We would do our best to help you solve your connection issue if you could share more details of your particular case with our support team. Nonetheless, we can assure you that our server connection is stable and the issue should be not from our end.

As per your concern about Myfxbook updates, we cannot be held responsible for third-party service quality. We recommend you address your request directly to the system in question.

Our support team is always there to assist you.

Best wishes,

The FXChoice Team

Reply by George submitted Dec 20, 2018 Dear Poundtrader,

Thank you once again for sharing your feedback here.

We are sad to hear that you are having to move on due to spreads and swap rates. We believe that we offer some of the most competitive trading conditions as an STP broker. We would like to point out that our Pro account spreads are very competitive and that you can even gain by reducing commission using our loyalty programme ‘Pips Plus’. For more information about our loyalty programme, please visit our Pips Plus page which you will find under the Trading Services section from the menu.

Additionally, if you contact our customer service, we will be more than happy to look into your account and discuss your trading strategy, so that we can recommend the best trading account to suit your requirements.

Best wishes,
FXChoice

Reply by George submitted Jan 29, 2019 Dear Poundtrader,



We are delighted to hear that you have decided to stick with us. We appreciate your loyalty and thank you very much for trusting us. We do our very best to ensure the smoothest and fastest possible transactions in order to enhance our client’s trading experience.



Best wishes,

FXChoice
  1 trader has found this review helpful
Johannesburg, South Africa,
Aug 19, 2020,
Registered user

FX Choice really is the wise choice.

Service use: Live

Length of use: over 1 Year

I've been with fxchoice coming up to 2 years, there have been the odd challenges which is normal but its how they have handled the challenges that defines them. Make no mistake there are too many dodgy brokers out there but fxchoice are not one of them. They are by no means perfect but they do come close for me :)
their support is second to none. There were challenges with connectivity but these were resolved and we were updated. Withdrawals are done systematically and support is speedy and friendly. If I were to be honest and find fault was a year ago friday night before close their liquidity provider increased the spread by 50 pips before market close I imagine quite a few stop losses got hit, I was quite fortunate to have not been affected. I did raise the question out of curiosity and was advised that if my sl was hit that would have been my trade toasted as they do not control that side of things, however I'm not sure if that is still the same today.
Overall they are worthy of their 5 star rating, they bring comfort with reliability and create a safe environment to trade on. No monkey business here. Thank you guys, and keep up the great work!!!!
  1 trader has found this review helpful
Reply by George submitted Aug 21, 2020:
Dear Marcusv007,

It was such a pleasure to read your positive review. Many thanks!

We’re especially pleased to read that, for you, FXChoice brings ‘comfort with reliability and creates a safe environment to trade on’. It’s also nice to see that you’ve praised our withdrawals and customer service, too.

We wish you the very best of luck and happy trading!

FXChoice
Dhaka, Bangladesh,
Aug 19, 2020,
Registered user

Everything is great But...

Service use: Live

Length of use: 0-3 Months

I opened an account on FxChoice.
Everything is fine.
Pros:
Fast Deposit
Fast Customer Support
Quick Execution
Cons:
High Spreads , it's a pain for scalper like us. So, I have a request to FXChoice, "Please reduce the spread, people will love you :)"
  2 traders have found this review helpful
Reply by George submitted Aug 21, 2020:
Dear Trader_203BA,

Thank you for your positive review. We’re glad to see the pros you have listed outweigh the cons. We actually think our spreads are very competitive.

Best wishes and good luck!

FXChoice
Bangladesh, Bangladesh,
Aug 19, 2020,
Registered user

World worst broker

Service use: Live

Length of use: 3-6 Months

Dont knownwhy every single day there mt4 got stuck for 4-7 min.

And its happens regular basis daily 10-15 time.

Aug 5, 2020 - 1 Star Every single day whenever i took trade once market get volatile there server hanged gor 3-10 min.

Thats regular case.

Dont recommend anyone ti use this broker.

Reply by George submitted Aug 7, 2020 Dear Pipskhor,

We’re sorry to read that you were affected by the recent issues on our Pro servers. We sent out an email to all Pro account holders detailing our apologies and instructions to submit a trade dispute.

If you feel you had any affected trades, we encourage you to contact us with your account information and the numbers of the affected trades as soon as possible. Of course, we promise to be thorough with our investigation, and if it transpires you did indeed have trades affected, we will compensate you.

Best wishes

FXChoice
 
Evan,
Wilmington DE, USA,
Aug 11, 2020,
Guest

Fast & Simple

Service use: Live

Length of use: 3-6 Months

Been using FXCHOICE for about 6 months now and never had an issue. Execution is fast, deposits and withdrawals are on point and spreads are fair. Great service especially for US clients wishing to escape FIFO. I also like to see a broker responding to their customer reviews, speaks well of them. For a broker open 10 years or so, I don't really see the reason for so many negative reviews.
  1 trader has found this review helpful
Reply by George submitted Aug 12, 2020:
Dear Evan,

Thank you so much for your flattering review. It is truly motivating to read such positive words about our company, and particularly that you noted our fast execution and deposits & withdrawals.

You also mentioned our consistent responding to customer reviews; we always like to respond to our clients so that they know we care deeply about their opinions of FXChoice and value their feedback.

Best wishes and good luck!
FXChoice
New York, USA,
Jul 24, 2020,
Registered user

Absolutely untrustworthy broker. Can’t believe they are regulated

Service use: Live

Length of use: 0-3 Months

FXChoice closed my trade and refuse to refund me. I’ve done everything they have asked for, I’ve provided screenshots, screen recordings and a full copy and paste of my trading journal. I never even knew how to access a trading journal until they sent instructions over to me and I sent it back to them. After receiving it they didn’t even take the time to fully review the journal and claimed that it wasn’t the full thing. I spoke to a representative Paul Tagger and he acknowledged that the full journal was attached initially and sent it over to their tech squad for review. They didn’t even both to click view entire message to resolve an issue with a client. After speaking with Paul Tagger and Jim acknowledging that he doesn’t not see the trade in my journal and that my journal was complete, he promised to keep me updated within 24 hours. For the third time during this entire experience FXChoice doesn’t get back to me for 72 hours. Then they don’t have any new information and blame it on MT4 saying that it is in the terms and agreement that they aren’t responsible. I use my iPhone to trade with other brokers and my trade has never magically closed. However, Paul Tagger and FXChoice says MT4 was meant for androids not iPhone so this happens and they are not responsible because their ‘journal’ shows it was closed from my IP address. Well of course they would say that it’s only ever been logged in by me. They kept saying they would provide this info but still haven’t. I know whatever they send will be forged so at this point I’m going to make my money back and then withdraw from this broker. They will lose many clients all over $775 on a trade that they closed.
  1 trader has found this review helpful
Reply by George submitted Jul 28, 2020:
Dear Paul,

You came to us claiming that one of your orders was closed by someone other than yourself. We investigated the logs at our end and found that the command to close the order was done by someone who:

1) Had access to the device you always use as it had the same unique identifier number
2) Was at the IP address you always use to send your trades.

We can be fairly certain it was you who closed the trade, or at least someone at your address with access to your device. Very often when this happens, an EA is to blame for closing the order prematurely. We would normally ask the concerned party to provide the logs from their end so we can see whether it was indeed manually closed or was done by an EA. From our end, we cannot see this information, so if an EA is suspected, client logs are essential. But as you were trading on a phone, it cannot have been an EA because they can only be used on PCs.

Paul, from our perspective, we have everything we need. We requested your logs just as an extra piece of evidence to show you, but it wasn’t strictly necessary in your case.

Good luck!

FXChoice
Matt,
Michigan, USA,
Jul 23, 2020,
Guest

Client for 5 years.... Still get treated like a clueless rookie

Service use: Live

Length of use: over 1 Year

I have been an AVID trader with FxChoice since 2015... and yet still... my terminal and whole account will go offline while password reset options suddenly disappear. This only happens when a position is against me & close to my stop loss AFTER a win streak.

I began a chat with “kevin” on 7/23/2020 and got NO REPLY FOR 8 minutes after he accepted the chat.

I had to open another chat and STILL got no assistance from Juan Carlos.


I am shocked and am tired of being “b-booked”.

I am a profitable trader and understand B booking.. but when it gets to the point of manipulation... I am over it. Unethical and do not care about their customers. Sad to see.
  1 trader has found this review helpful
Reply by George submitted Jul 24, 2020:
Dear Matt,

Yesterday, one of our servers was temporarily down, affecting all clients trading on the server, regardless of profitability. Consequently, we were dealing with a very large volume of chats with no ability to answer them all in a timely manner, as we normally do.

We apologise unreservedly for this. FXChoice is known in the Forex industry for providing excellent customer care, but this time we were simply overloaded.
If you or any other client reading this, feel that your trading was adversely affected by the downtime, please get in touch with us by opening a trade dispute ticket detailing:

1. Your account number
2. Order/s ID number(s)
3. A basic summary of the problem
4. If possible, please send us screenshots of your MT4 platform illustrating the problem

You can submit a ticket here: https://www.livehelpnow.net/lhn/TicketsVisitor.aspx?lhnid=6766

Best wishes
Indonesia, Indonesia,
Jul 21, 2020,
Registered user

Trustworthy Broker

Service use: Live

Length of use: over 1 Year

I deposited $1,000 in my account in 2016, never made a trade, never logged in.. In 2020, I logged in to backoffice and there my account with $1,000 in it..
  2 traders have found this review helpful
Reply by George submitted Jul 22, 2020:
Dear Maxonyforex,

We are very grateful for your review of our company. Thank you.

At FXChoice, we keep all of our clients’ funds in segregated bank accounts, so your funds are always safe with us.

Best wishes
Auckland, New Zealand,
Jul 17, 2020,
Registered user

Changed to other brokers due to high spreads

Service use: Live

Length of use: over 1 Year

Trading cost is high compared to larger brokers. I chose this broker because I was inexperienced and new to trading. After learning about the market for an extended amount of time, there are many other large scale brokers with very good customer service and spreads. If you are trading 4H timeframe and above, FX Choice is okay to do business with. But if you are day trading or scalping below 4H, the commission plus high spread will take away a good chunk of your profit.
  1 trader has found this review helpful
Reply by George submitted Jul 21, 2020:
Dear Daniel L,

We are very sorry to read that you have rated our spreads so poorly. The tone of your review seems to suggest that we are a good broker, but your star rating says otherwise.

Your criticism of our spreads as being poor for scalpers is one we categorically reject, but of course, you are entitled to your opinion. We believe our spreads are competitive for scalpers and count many such traders among our ranks at FXChoice.

Best wishes
Toronto, Canada,
Jul 15, 2020,
Registered user

Great Service and Fast executions on the Pro Account but...

Service use: Live

Length of use: 0-3 Months

So far deposits and withdrawals were done smoothly. And the customer service is superb. But as a trader who only trades gold, I find their commissions to be one of the most expensive when it comes to Metals. They do have a Pip+ Loyalty Program, which reduces commissions when trading currency pairs. However, this is not applicable to metals like Gold and Silver. Trading XAU/USD pair costs a total of 12.68 USD. There are other brokers out there who can do better in this area.

As a Canadian citizen, we have a very limited choice when it comes to Forex Brokers. FxChoice is unfortunately one of the regulated brokers out there that accept Canadians and US citizens. The company seems to be one of the trusted brokers out there. I just wish that they can somehow reduce the commission on Gold. At the moment, I am already opening an account from another regulated broker, and I am planning on moving on from FxChoice.

It was really a great experience working with this broker, and I would hate to go.
 
Reply by George submitted Jul 21, 2020:
Dear Ron_777,

Our Pips+ would be the perfect tool to reduce your trading costs with us if you feel they are too pricey. And it seems there was some very misleading text in our FAQ about restrictions on Pips+ that suggested metals were not covered by the programme. They ARE and always have been. The text on the site will be corrected and we want to let you know that we are currently planning to bring Pips+ to all of our instruments at FXChoice, so watch this space.

Best wishes

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