FXChoice Review 2026
Services not offered to residents of United States.See the best FXChoice alternatives in your location.
Pros
- Offered tight spreads starting from 0.0 pips
- Hedging and scalping were allowed
- MT4 and MT5 were supported for chart and algo traders
- Bitcoin deposits and withdrawals were available before regulatory actions
- Commission-free trading offered
Cons
- Regulatory actions raised safety concerns
- It operated with weak regulatory oversight
- It had a limited selection of commodities
FXChoice Review
While the FXChoice website may still be active, it no longer accepts new clients. The FSC of Belize stopped the broker from accepting cryptocurrency deposits and withdrawals, which hurt their business model. The review below is provided for historical purposes.
FXChoice Headlines
Established in 2010, FXChoice Limited was headquartered in Belize and registered with the Financial Services Commission (FSC) – an offshore, ‘red tier’ body in our classification system, making it high risk.
The company evolved as an online ECN broker, providing forex and CFD trading to both private and institutional clients. The brokerage followed a Non-Dealing Desk (NDD), market execution model.
FXChoice offered popular trading platforms, as well as additional analysis tools. Copy trading and a dedicated forex training academy made it popular with beginners, while the Myfxbook AutoTrade solution facilitated advanced strategies.
Trading Platforms
MetaTrader 4
For seasoned traders especially, MT4 was ideal for those looking for a tried and tested trading solution. The multilingual platform comes with plenty of sophisticated charting tools and customizable features that cater to various strategies.
- Quick & easy login
- Multiple timeframes
- 4 pending order types
- Expert Advisors and single-thread strategy tester
- Over 2000 technical indicators and graphical objects
MetaTrader 5
As the successor to MT4, users benefit from a more professional experience with MT5 and additional capabilities, including a market depth view, extra technical indicators, timeframes, faster execution, plus 6 pending order types. The spacious dashboard also makes the interface somewhat easier to use than its predecessor.
Both MT4 and MT5 are compatible with Windows and Mac PCs.
MetaTrader WebTrader
Available to both MT4 and MT5 users, the web terminal provides the convenience of trading anywhere with an internet connection, without the need to download any software.
Traders can save time and disc space with virtually the same interface as the desktop version.
Available functions include one-click trading (MT5 only), real-time quotes, customizable charts, 9 time-frames, and basic analytical objects.
Assets & Markets
FXChoice covered CFD trading in several key areas, with modest depth in each category:
- Commodities – gold, silver, crude, or US Brent oil
- Indices – 6 major indices, including US30 and UK100
- Forex – 36 popular currency pairs, including EUR/USD and GBP/USD
- Stocks – 50+ shares in the most popular companies like Tesla and Apple
- Cryptocurrencies – Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH)
Spreads & Commissions
Spreads and fees were higher at FXChoice compared to the cheapest brokers we’ve tested, making it less attractive to day traders.
Spreads started at 0.5 pips on the Classic Account with no commission, while the Pro accounts offered spreads from zero pips alongside a commission of $3.50 per side.
This dropped to $1.50 per side, per $100,000, with the broker’s Pips+ loyalty programme.
Note, the minimum trade size is 0.01 lots.
Leverage
Flexible leverage ranged from 1:25 to 1:200 across both account types at FXChoice. These rates are fairly high and are not subject to the 1:30 cap found at most EU, UK and Australian-regulated brokers. This made FXChoice less suited to beginners and made risk management essential.
The margin level was 50% and the margin call/stop out levels were 25/15.
Mobile Apps
Mobile trading was made easy with the MT4 and MT5 mobile apps, compatible with both iPhone (iOS) and Android smart devices.
The apps offer much of the same functionality as the desktop platforms, with added benefits such as push notifications and interactive price charts. iPad users can also display multiple charts in one window.
FXChoice Payment Methods
Deposit Review
FXChoice offered multiple deposit methods like card payments, e-wallets, but cryptocurrencies, including Bitcoin (BTC) and Ripple (XRP), were no longer permitted after action from the FSC in Belize. Some methods were also only available in certain jurisdictions.
The minimum deposit was 100 USD or currency equivalent and accounts could be opened in USD, EUR, GBP, AUD and CAD, among others.
Processing charges could apply, though some payment methods had 0% fees. Internal transfers could also be made from within the back office.
Withdrawal Review
Many of the same methods were available for withdrawals, which were processed within 24 hours Monday to Friday. After processing, all e-payment withdrawals were credited instantly.
Some options also involved a fee; details of which could be found in the cashier portal upon login.
Demo Account
You could open Classic MT4, Pro MT4, and Pro MT5 demo accounts. Users could access almost identical trading conditions in a low-risk environment, with a customizable amount of virtual funds to practice with.
Our experts found that paper trading profiles expired after 90 days of inactivity. Otherwise, they remained open for as long as needed, though the broker has since closed.
Bonuses & Promotions
FXChoice offered bonuses at sign up, including those for certain payment methods. But we never recommend choosing a broker for their bonus deals.
Note that the percentage of the bonus also differed depending on the account type. Details were provided in the terms and conditions. Also, there were often tough wagering restrictions attached to such incentives that could encourage reckless or overtrading.
The forex broker also offered the Pips+ Loyalty program, in which all clients were automatically enrolled when they sign up for a Classic or Pro account. The program consisted of five tiers and awarded higher rebates and lower commissions for active trading.
Previous welcome bonuses and deals included a free VPS promo code.
Regulation & Licensing
FXChoice Limited was an online broker, authorized by the Financial Services Commission (FSC) of Belize under license number 000067/301. But it fell foul of the BSC, which ultimately led to its closure. Even if it hadn’t, the FSC is an offshore, weak regulator that should provide limited peace of mind to active traders.
Additional Features
There were some useful trading services available, including the Myfxbook AutoTrade tool. There was also a selection of Expert Advisors for MT4 to download, including the GPSForexRobot for scalping, plus pip calculators.
The MQL5 Trading Signals service was also available. This feature allowed traders to shadow the positions of experienced traders, known as Signal Providers. This add-on can worked alongside Expert Advisors and the provided signals could be copied automatically in the MT4 platform.
In addition, FXChoice had partnered up with ZuluTrade to offer copy-trading solutions. A VPS was also available for traders who wanted to run their own software.
The FAQ section was quite extensive and did cover technical information and video tutorials for MT4 and MT5. However, other popular brands like FOREX.com and IG, offered a more comprehensive range of educational tools and research.
Account Types
Traders could choose between two live account types: the MT4 Classic account or the MT4/5 Pro account. Both required a $100 minimum deposit and had a 0.01 minimum lot size. Account verification could be completed in a few steps from the broker’s website.
The main difference between the two accounts, aside from the availability of MT5, were the $3.5 commission and tighter spreads in the Pro account.
Islamic swap-free, MAM, and corporate options were also available at request. FXChoice did not offer PAMM or cent accounts.
Customer Support
There were several ways you could get help at FXChoice. We found that the live chat service was particularly fast and helpful when tested, and before the broker closed.
- You could submit a ticket via the online contact form to receive a response by email
- Telephone number: +52 556 826 8868
- Request a callback
- Live chat
You can could keep up to date with events, news, and holiday hours announcements on the broker’s social media pages, which are no longer active.
FXChoice Limited’s headquarters address was Corner Hutson & Eyre Street, Blake Building, Suite 302, Belize City, Belize.
Security Rating
When we used FXChoice we found that client transactions are processed safely. All communication were encrypted using SSL technology and all passwords were encoded.
Similarly, the MetaTrader platforms were both fully encrypted and allowed users to apply two layers of authentication if they wish, including Google Authenticator.
FXChoice Verdict
FXChoice was an average broker. It offered demo accounts, third-party tools, and leverage in both the Classic and Pro accounts. The option of MetaTrader platforms catered to multiple strategies, making FXChoice a reasonable broker for some experienced traders. However, it would have been nice to see a more diverse range of research tools to support traders looking to expand their knowledge. Regulatory concerns also overshadowed the positives, and it no longer accepts new registrations.
FAQs
Did FXChoice Accept PayPal?
FXChoice did not offer funding via PayPal, but other standard deposit and withdrawal methods were accepted, including e-wallets, debit cards, and cryptocurrencies were offered for a period before they were barred.
Did FXChoice Offer A VPS?
FXChoice offered a Virtual Private Server (VPS) which was free if your account balance exceeded $3,000 and you traded at least five lots during each billing cycle. Users could benefit from fast delivery times, 2GB of virtual RAM, a server location in Europe, and more. This is no longer available.
Was FXChoice A Regulated Broker?
Not really. FXChoice Limited was registered with the Financial Services Commission (FSC). With that said, the FSC is not a top-rated financial regulator like the ASIC or FCA.
Best Alternatives to FXChoice
Compare FXChoice with the best similar brokers that accept traders from your location.
- DNA Markets – DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, Saint Lucia. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
- FOREX.com – Founded in 2001, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
FXChoice Comparison Table
| FXChoice | DNA Markets | FOREX.com | |
|---|---|---|---|
| Rating | 2.8 | 3.5 | 4.5 |
| Markets | CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares | CFDs, Forex, Indices, Commodities, Stocks, Crypto | Forex, Futures and Options on Metals, Energies, Commodities, Indices, Bonds |
| Demo Account | Yes | Yes | Yes |
| Minimum Deposit | $100 | $100 | $100 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Regulators | FSC | ASIC | NFA, CFTC |
| Bonus | 50% or 65% Welcome Deposit Bonus | – | VIP status with up to 10k+ in rebates – T&Cs apply. |
| Platforms | MT4, MT5 | MT4, MT5 | WebTrader, Mobile, MT4, MT5, TradingView |
| Leverage | 1:200 | 1:500 | 1:50 |
| Payment Methods | 15 | 10 | 9 |
| Visit | – | Visit | Visit |
| Review | – | DNA Markets Review |
FOREX.com Review |
Compare Trading Instruments
Compare the markets and instruments offered by FXChoice and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| FXChoice | DNA Markets | FOREX.com | |
|---|---|---|---|
| CFD | Yes | Yes | No |
| Forex | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes |
| Copper | No | Yes | Yes |
| Silver | Yes | Yes | Yes |
| Corn | No | No | Yes |
| Crypto | Yes | Yes | No |
| Futures | No | No | Yes |
| Options | No | No | Yes |
| ETFs | No | No | No |
| Bonds | No | No | No |
| Warrants | No | No | No |
| Spreadbetting | No | No | No |
| Volatility Index | No | Yes | No |
FXChoice vs Other Brokers
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