FXChoice Review

3.893 · 281 REVIEWS

FXChoice

Updated: Sep 30, 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

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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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3.893 · 281 REVIEWS
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Traders Reviews

United States, USA,
Sep 28, 2020,
Registered user

So far so good with FXChoice.

Service use: Live

Length of use: 6-12 Months

My experience with FXChoice has been good so far. I am not a profitable trader, but I will say that their customer support is excellent. They are very quick and have solved every single one of my questions and issues I've had over the last year. Their spreads are decent and depositing and withdrawing is SUPER simple with VLoad. The only complaint I have is RARELY, your servers will go down for a minute or two, where I'm not able to log in to my trading account. But overall, great broker. I recommend them.
 
durban, South Africa,
Sep 25, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

They have issues with withdrawals, Never try them if you like to move your money fast for other trading opportunities

Sep 26, 2016 - 1 Star Bad Broker for Mac users. They don't offer terminals for Mac which make it deficult to trade with them. They asked me to install MT5 with wine and gues what? The platform freezy every 10 munites. It doesn't work at all when there is major fx news.



DO NOT GO FOR THEM IF YOU USE MAC

Reply by Anthony K. submitted Sep 29, 2016 Hello Lindo,

We are sorry you had a negative experience while trading with us. However, we would like to point out that the installation of MetaTrader through Wine is not our solution, but that of Metaquotes, the company who developed MetaTrader http://www.metatrader5.com/en/terminal/help/start_advanced/install_mac. With that being said, we were simply following their recommendations.

We received many requests from our clients for a more straight-forward solution, and very recently we compiled our own Mac-compatible MT5 version, which can be downloaded here https://en.myfxchoice.com/download-mt5-dmg. Naturally, we have tested it quite extensively and haven’t experienced freeze-ups or any other problems with it. The MT4 we compiled for Mac over a year ago, hasn’t had any problems either.

Good luck in your trading.

Kind regards,
FX Choice Limited
 
Reply by George submitted Sep 28, 2020:
Dear Lindo,

We are sorry to read your review. You have been a client of ours for a long time. We recognise that you had some problems using your Mac way back in 2016, but as far as we can see you have had a very smooth time at FXChoice up until now.

We see that you left us for a while then came back on 21st September, depositing Ripple. It seems that your only dissatisfaction was that you couldn’t withdraw Bitcoin. You cannot withdraw a different currency than you deposited. It would be in breach of our AML rules, which are very clearly laid out.

You must withdraw the same currency that you deposited, and the method should also be the same (wherever possible).

Best wishes,
FXChoice
Lornita Linda,
FL, USA,
Sep 21, 2020,
Guest

Don't let them do it to you!

Service use: Live

Length of use: 3-6 Months

This company stole our money, and then closed our account because of no funds available. Tried contacting them with back and forth chats, ending in no further responses from them. Didn't get the help we needed, resulting in having our money stolen. This company had been recommended by others, who seem to have been more fortunate than us. The moment we started making profit, it all began to go to hell. We don't recommend this company whatsoever; it's all a scam. Until we get a different result, I can't say anything positive about FXChoice. :-/
 
Reply by George submitted Sep 23, 2020:
We have responded to this claim elsewhere, so here we are just going to post our unified response to the claimants:

Dear Lornita and James,

Thank you so much for providing the account and ticket numbers. Previously, we weren’t sure who we were dealing with, but now we are certain.

James claimed in his review that we ‘scammed’ him out of $155,000. A serious claim indeed and one, of course, we utterly reject. Now let us share the evidence so other readers can see exactly what happened.

Somebody called ‘Oscar’ came to our live chat to complain that the orders he opened on 9th September should have been 3.5 lots, and not 35 lots. It was these trades that incurred the $155,000 losses. We investigated these orders and found that they were opened by his trading robot. Of course, it is the responsibility of the trader to manage their trading robot, but that’s not quite where the story ends.

On the very day before, on 8th September, orders of a similarly large volume were opened on the account; but on that occasion, it was with a positive result. When you submitted your claim, you forgot to mention these profit-making trades. So, what can we deduce from this? You had absolutely no problem with volumes this large when it was making money, but when it was losing money, ‘FXChoice is a scam’. We believe you knew exactly how the robot was working and that you are looking to shift the blame for its poor performance onto us.

We are sorry to hear that you lost your life savings, but you knew what you were doing.

As for your claims about ‘deleting our accounts’. You logged into Backoffice and deleted three Demo accounts and two live accounts. You did that yourselves. Either it was you or the other person named on your corporate account.

FXChoice
Usa, USA,
Sep 9, 2020,
Registered user

Fxchoice is fraud.

Service use: Live

Fxchoice is fraud company they do cheating. Im going to open chargback request to my bank. This company is cheating with clients. Please I request all you open report against fxchoice.com and get ur money.

Jan 24, 2019 - 1 Star 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
 
Reply by George submitted Sep 11, 2020:
Dear Reader,

Nothing we say to the reviewer seems to be sinking in, so this response is largely written for other readers. We have now blocked his account and will be having nothing more to do with him. Let us explain.

As you can see from the reviewer’s previous entries, he has been very vociferous in warning people away from FXChoice since 2016. But this reviewer is not very good at following his own advice. He has been with us all this time, collecting his IB Commission as he goes and trading normally. But when he loses money through his trading, all of a sudden, we are a ‘scam’ operation and are stealing ‘his’ money.

The reviewer recently lost a lot of money to the market. He came to the chat blaming us for his losses. He said that it was us who executed those trades, not him. We showed him incontrovertible proof that the trades were sent from the device he always uses and from his location. He then tried to blackmail us saying he was going to recommend that his clients begin executing unscrupulous financial practices against us if we didn’t heed to his demands. Blackmailing has to be the final straw.

FXChoice
NJ, USA,
Sep 4, 2020,
Registered user

Research no more -- U've found the right Broker

Service use: Live

Length of use: over 1 Year

So i've been researching for a very long time (and still do) for the MOST Secure (country regulated) , most reliable , most reputable , low fees + spreads , etc.. Broker in the world .. MyFXChoice is #1 choice . Below is my researched info on the company:

1) Upto 1:200 leverage
2) Country (located in Belize) has a good regulated Forex laws BUT its not as good as the USA. This country has regulation IFSC . Don't be fooled into thinking you need the thousands of Forex laws & regulations in the USA to even consider trading as USA will never offer a leverage of 1:200 --- The way I see it is I sacrifice some extra protective Forex regulations to get my leverage needs as long as the broker firm has a long history of being in business BUT also its reputation.

3) Very Reputable company with one of the lowest complains/issues with clients. Confirm all my claims and compare them to other companies that offer the same amount of leverage and low fees/spreads .

4) low spreads and commission fees

5) They actually communicate and update their customers CONSTANTLY with any upcoming Volatile seasons or holidays or major economic events or updates (unlike most other brokers).
 
Reply by George submitted Sep 7, 2020:
Dear crisb8713,

It was such a pleasure to read your flattering review of our company. We are very grateful.

We believe it’s important to keep our clients abreast of volatile events in the forex market and we are pleased to see that our efforts are paying dividends.

Best wishes and many thanks,

FXChoice
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
 
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!!!!
 
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 :)"
  1 trader has 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.
 
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..
  1 trader has 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
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
  2 traders have 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