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

Updated: Jan 15, 2019
4.094 · 198 REVIEWS
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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)

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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.

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4.094 · 198 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!

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
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
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
Forex 101,
USA,
Dec 24, 2018,
Registered user

Great broker. Excellent chat service. A girl named vaneesa helped me out iin all my queries. My bitcoin deposit was done fast. Highly recommend everyone to join fx choice - Mohammad Mustafa
Reply by George submitted Dec 31, 2018:
Dear Forex 101,

Thank you for taking the time to share your experience and rate our services. We are happy to hear that everything went smoothly with your Bitcoin deposit and the help provided by our representative.

We wish you the best of luck with your future trading.

FXChoice
aicohn,
OK, USA,
Dec 22, 2018,
Registered user

Wire Transfers ??!!

Recent banking woes at this broker writ large. I twice attempted a wire transfer into my account from bank of america. First attempt I did online and was rejected by them because Deutsche Bank was used as a correspondent. I called B of A's wire transfer department and asked them how I could specify JP Morgan as correspondent bank. They said I could do that but would have to sit down with a banker to do it, which I did., specifically requesting in the instructions JP Morgan as correspondent bank. The wire was again rejected by them. Each time I was charged $45 by Bank of America and $35 by them, so this was adding up. Of course, though these guys claim to reimburse wire transfer fees, in this case, I'm winding up with a hit over this instead.

In a fit of anger, I then initiated a wire to coinbase pro, bought $25K of bitcoin, opened a bitcoin denominated account with them and did the transfer my self. I further filed complaints against B of A with the CFPB and comptroller of the currency (we'll see how far this goes).

But getting funds to these guys has become a major league headache. Before I did what I did, I got in a screaming match with B of A's wire transfer dept (after second failed transfer) and they hung up on me. I don't like bitcoin as a base currency because it adds one more element of volatility, but I see that as the only way to reliably get money to them because of the conditions they impose and bankers who deserve a special place in hell.

Jul 2, 2018 - 3 Stars I previously rated this broker 5*. I have traded with them for some number of years and have appreciated the platform and trading conditions. I have not previously bothered trying to get a rebate of wire transfer fees as I considered that "small stuff". But I have now tried taking them up on that offer, when I decided to up my stakes with them and wired another $12K into my account. Bank of America does not include not of the fee for the transfer on their transfer advice, so I submitted the form I got including the from & too acounts (mine & theirs) amount of transfer, day, etc. and then in a separate form (as they explicitly allow) in their form submission, a line entry from my bank account showing the withdrawal for the wire transfer. Here was the response from myfxchoice:

"Status of your request ID 36229 (Bank fee refund) has been updated: Declined
Dear Aaron I. Cohn,

Unfortunately, we are unable to accept your document for the following reason:

• The document you upload should contain the following information: the amount of wire transfer, the amount of wire transfer fees, it should state that the transfer has been sent to FXChoice Limited. This all should be in one document.

We kindly ask you to upload a new document which meets our requirements.

Thank you for your cooperation.

Kind regards,
The FXChoice Team"

And here was mine:

"Your query ticket #: 11017694
Question/Issue: I’m sorry, but I have one document with the wire transfer particulars, but it doesn’t show the wire transfer fees.

And I also provide a statement from my bank account showing the charge for the wire transfer. I uploaded BOTH.

I will do so again. If you choose not to honor your rebate of wire transfer fees given this documentation, I will take this up on the commentary pages for forexpeacearmy.com where I previously gave you a 5* review and will update that accordingly.

Love & kisses."

So I am doing what I promised/threatened. I DO appreciate the trading conditions at this broker. I appreciate the responsiveness in these pages. However, I really think it is colossally stupid to nickel and dime a customer with an almost $21K trading account this way. And I really think you should do what you say you're going to do. In my professional affairs I consider that my first and cadinal commandment. I expect the same of my broker.

Nov 19, 2016 - No Rating See previous 5* review. Nothing negative to add on execution or anything else, but attempted a withdrawal. Got back an email asking me the reasons for my decision, and asking if there were anything wrong/they could do better. Fine. But my withdrawal has not been processed. There has been a delay. Not sure yet whether this signifies a severe problem or not, so not rushing into trader's court.... YET. A cautionary note.

Nov 5, 2016 - 5 Stars So far, so good. I moved from Tallinex because of some extremely obnoxious swaps adversely affecting my results, in pairs where you wouldn't expect that (where central bank interest rates are close), because I frequently hold positions for days, sometimes even weeks. Swaps at this broker are very reasonable and more than make up for the slightly higher commissions, at least for my trading style. Spreads are modest. Slippage is negligible, and I've more often than not noticed slightly positive slippage in hitting TP values. Administrative issues (e.g., crediting deposits, wire transfer rebates, etc) are handled quite efficiently. One caveat: I have not tried withdrawal yet; will amend/revise when I do so. I've had no technical problems, and their platform seems stable. For USA residents looking to trade out of the clutches of dishonest, horrible, USA brokers and hamstrung by ridiculous regulator-imposed rules, this broker seems a very solid choice.

Reply by Anthony K. submitted Nov 21, 2016 Hello Aaron,

Thanks for your “note”.

As a part of our quality control procedure, we do ask our clients why they withdraw money before we process their withdrawal requests, especially so, when they withdraw all their money. We simply want to know whether or not their decision to make a withdrawal has anything to do with our trading environment or conditions. Additionally, sometimes people submit their withdrawal requests in error. Someone wanted to do an internal transfer of funds and instead submitted a withdrawal request. Or they buy trading software (expert advisors) but are not able to set them up on their own. As a result, they get frustrated and submit a withdrawal request. And when we ask people, they explain the situation to us, we help them to get things sorted, and they end up canceling their withdrawal request.

We are sorry we didn’t process your withdrawal request on Saturday the 19th when you replied to our email and wrote your cautionary note. Our offices are closed on Saturdays and Sundays.

Best regards,
FX Choice Limited

Reply by George submitted Jul 3, 2018 Dear Aicohn,



Thank you for your persistent coverage of our services on FPA.



It seems to us that you have been extremely hasty in posting this negative review. We agree that we declined your first request because your document didn’t contain the necessary information we need. Let’s discuss the timeline so others can see your extremely hasty behaviour:

• 17:17 – Wire transfer fee refund requested

• 17:50 – Declined

• 18:04 – Wire transfer fee refund requested (resubmitted)

• 18:40 – Accepted

All times are server time



As you can imagine, we are very sad to see that in the 50-minute period between the initial decline and us eventually accepting your request you have decided go on FPA and vent your anger.



It is not for us to decide what angers our clients and what doesn't, but we feel you have evaluated us unfairly here for the sake of 50 mins.



Best wishes



The FXChoice Team
Reply by George submitted Dec 31, 2018:
Dear aicohn,

Thank you for your feedback. We understand how big of a headache this has recently been for our clients when trying to deposit using the Wire Transfer method. We are far from happy ourselves with the recent banking and wire transfer changes and, as we have mentioned in previous comments below, we are working on introducing other payment methods as soon as possible.

Using Cryptos as a funding method is simple and quick; it can also mitigate all the banking issues and extra expenses they charge.

We are very sorry for the inconvenience that was caused by the banks and wish you a happy 2019!

Best wishes,
FXChoice
Poundtrader,
USA,
Dec 14, 2018,
Registered user

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
PipsLoveMe,
USA, USA,
Dec 1, 2018,
Registered user

They were GREAT, now Very Good. I still strongly recommend

Love them. They have gained my trust in an industry where you really have to be wary of scammers. Only drawback is that they recently stopped accepting bankwires for anything under $1,000, which unfortunately leaves US customers vulnerable to the scammer that is UPayCard. If they had an alternative safer option for US customers in this regard they'd be perfect (as they were for a time). But due to this I must give them 4 as opposed to 5 stars.
Reply by George submitted Dec 4, 2018:
Dear PipsLoveMe,

Thank you for sharing your love for us. Trust has made us what we are today, and we thank you for acknowledging this.

Alas, you are indeed right about the recent changes concerning bank wire payments. This alteration is due to the recent banking system changes. As for your comment about UPayCard, please could you contact us about why you have referred to them as a scammer? Maybe we can assist you in resolving any issues you may have experienced with them.

Finally, we would like to inform you that there are other options for our US clients, such as Cryptos. We will also be introducing other payment methods shortly.

Thank you once again for your very good rating and sorry for any inconvenience caused by the recent changes.

Best wishes,
FXChoice
Jacobsshane8,
USA,
Nov 30, 2018,
Registered user

Great broker . Always give me my withdraws. Been my broker for a while now. Great customer service .
Reply by George submitted Dec 4, 2018:
Dear Jacobsshane8,

Thank you for your great feedback about our services. Our friendly and dedicated support team is always ready to assist you. As for withdrawals, we always do our best to ensure the smoothest possible process.

Best wishes,
FXChoice
M.Jones,
USA,
Nov 29, 2018,
Registered user

Whats really going on My Fx Choice, be honest.

It seems like My Fx Choice is headed in the wrong direction. There is no way to complete wire transfers any more in the USA. No bank in the country can locate My Fx Choice's Bank. UNCRBGSFXXX or UNCRBGSF. Using my Bank of America online banking use to go through smooth, until My Fx Choice stated that they will be no longer process payments that use the following Intermediary/Correspondent banks:
1.Deutsche Bank AG, Frankfurt
2.Deutsche Bank Trust Companies Americas, New York
They need to remove the wire transfer option from there website for US clients until they get a bank they can be located and get the rest of these issues resolved. Disappointed.

Jun 27, 2018 - 5 Stars Thanks for resolving my issue My Fx Choice seems to be a solid broker.Im going to stick with them.

Jun 18, 2018 - 1 Star I tried to make my first withdrawal of 1300$ USD and Fx Choice deliberately erased my last name off my request information so that the wire withdrawal would be rejected by my bank and they are acting like they can't track it when they are the ones who have the original tracking number.They are deceiving and act very nice and seem real concerned but they are snakes. Don't use this broker. Im going back to a US broker... They keep closing my case numbers as if the issue has been resolved.Im filling a complaint with the IFSC, you can find the complaint email tab at the bottom of their website. IFSC.

Mar 27, 2018 - 1 Star I decided to try this offshore broker who excepts US clients, but they just Robbed me. They Closed out my EURAUD trade without it touching my Stop Loss what so ever.Not only that the Trade was about to Tank, So they took my money and Im also missing the money I would have won.Ticket #: 10240647

Reply by George submitted May 4, 2018 Dear M.Jones,

Thank you for your review and for mentioning the ticket number.

It seems that your review had been posted here one day before we answered to the ticket and explained what happened to your trade. We are glad to see that you appreciated the answer and sent us a positive feedback, so we believe that the issue has been resolved.

However, since the issue has been posted here, we should explain that the trade in question was stopped out as the account didn’t have enough margin to keep the trade open.

Should you have any questions, our customer support team will be more than glad to assist you. Our sincere apologies for the delay in response here, which was caused by some technical issues with this website’s reviewing system.

Best wishes,
The FXChoice Team

Reply by George submitted Jun 28, 2018 Dear M.Jones,

First, thank you for making a rebuttal on your previous post. We appreciate your commitment.



We are well-known across the industry for our outstanding customer support; we can assure you that our team is always eager to settle any issue that may occur. However, some transactions, such as wire transfers, involve third parties and this is where we cannot be held fully responsible. Nonetheless, we do encourage our customers to address our support team, as our client experience is at the heart of what we do.



Best wishes,

The FXChoice Team
Reply by George submitted Dec 4, 2018:
Dear M.Jones,

Thank you for your feedback.

We can assure you that FXChoice has always had one intention: to head in the right direction. That can be seen from the many satisfied customers we have on this site.

As with everything in life, there are some things beyond our full control and one of those is the banking system. Yes, there have been some recent changes to the way we receive and send payments, but your statement about our bank not being recognised by other banks is untrue: we receive and send payments to/from our clients’ accounts daily.

As for the Intermediary/Correspondent banks, we confirm that any payments sent via the banks you mentioned will not be processed. We have made this very noticeable and clear in our Backoffice system when clients request a withdrawal.

We are sorry for any inconvenience caused and thank you for your suggestion.

Best wishes,
FXChoice