FXChoice is a leading online forex broker with an excellent reputation and a range of features to attract a wide variety of traders. Their easy and convenient account opening process ensures that you can trade forex on the market within 24 hours of signing up. You will have to deposit at least $100 and keep at least 100 units of base currency in your trading account to start. The deposit and withdrawal process is easy and fast, and the minimum deposit amount is $100.
Trading fees are average to competitive, and the brokerage is open and transparent about commissions and spreads. Each spread is clearly labeled in USD or the currency you prefer to trade in. Each trader is allowed to use their own expert advisor, but the maximum leverage is 1:200. There are also no spreads on the FXChoice Pro account, and commissions are $3 per $100 000 traded. A trader may take some time to adjust to this new system, but it is worth it to have a better understanding of what is involved in Forex trading.
A FXChoice review will help you understand the pros and cons of trading with the broker. Firstly, it is important to understand that FXChoice is an offshore broker and is therefore not regulated in the US. The broker is also headquartered in Belize, which ensures the security of their client s transactions. All communications with the broker are encrypted with Secure Socket Layer technology and passwords are also encrypted. It is also worth noting that FXChoice offers 2-factor authentication, which includes Google Authenticator.
As for the platform itself, FXChoice supports MetaTrader 4 and MT5 mobile trading platforms. MT4 mobile apps can be downloaded from the AppStore or PlayStore for easy access on the go. Android users can also access their trading platform on a tablet or an iPad. The MT4 apps are rated 4.6 on the Apple AppStore, while the MetaTrader 5 app has over half a million ratings of four to five stars.
Another benefit of trading with FXChoice is its multiple earning modes. A Multi-Account Management account is available for experienced traders, which lets them take care of other traders accounts without the hassle of switching. Traders can take advantage of FXChoice s referral bonus, which rewards existing clients for referring new traders. These bonuses can be received as a one-time bonus or a monthly interest-bearing account.
FXChoice is regulated by the International Financial Services Commission in Belize, unlike most offshore forex brokers. This helps to prevent fraud and ensure that traders get the best service. While the company is based offshore, it offers liberated services and lower fees for its clients. In fact, FXChoice also offers a free demo account that expires after 90 days of inactivity. While using a demo account, traders can also deposit virtual funds to it.
In addition to MT4 and MT5, FXChoice also offers the social trading community ZuluTrade, where traders can connect with other traders and learn from their experience and success. Their platform offers access to top six world-class instruments, 38 popular forex pairs, and a range of tradable instruments. You can even trade Bitcoin BTC and Litecoin LTC.