FXChoice review

Regulated by

Financial Services Commission of Belize (FSC), registration 000067/34

Regulator tier

Tier 3

Register entry

Belize FSC Securities Industry register, registration 000067/34

Client money segregated

Yes

Held at

Regulated banking institutions

Negative balance protection

No

Compensation scheme

No statutory investor compensation scheme

Audited by

Independent external auditors

Not available to

Afghanistan, American Samoa, Bahamas, Belarus, Belgium, Burundi, Canada, Central African Republic, Congo, Cuba, Egypt, Eritrea, Ethiopia, Guam, Guinea, Guinea-Bissau, Guyana, Iran, Iraq, Laos, Lebanon, Libya, Mali, Namibia, North Korea, Pakistan, Palau, Russia, Saint Kitts and Nevis, Samoa, Serbia, Somalia, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Turkey, Ukraine, United States, Vanuatu, Venezuela, US Virgin Islands, Yemen, Zimbabwe and other EU/EEA countries

A regulator is also the body that publishes what a broker has done wrong, which is half the reason the licence matters.

FXChoice's licence is offshore (FSC). Offshore entities typically offer higher leverage and lighter reporting, and compensation schemes do not apply - the trade-off is protection, not price.

An FSC licence (Mauritius or Belize, depending on the entity) is an offshore authorisation with lighter reporting duties than a tier-one regulator.

Legal entity

FX Choice Limited

Company number

000003992

Headquarters

Belize City, Belize

Founded

2010

Publicly listed

No

Parent company

Independent

Employees

Approx. 50-200

Also trades as

FXChoice; MyFXChoice

Deposit methods

Credit/debit cards, bank transfer, e-wallets, cryptocurrencies and regional payment methods

Withdrawal methods

Bank transfer, cards, e-wallets, cryptocurrencies and supported original funding methods

Deposit time

Many electronic/crypto methods instant or same day; bank transfers generally several business days

Withdrawal time

Typically processed within 24 hours; settlement depends on payment method

Minimum withdrawal

$10 equivalent

Local payment methods

Country-specific bank transfer and regional electronic payment systems

Spread from

0.0 pips

EUR/USD spread

Approx. 0.2 pips, Optimum/Raw pricing

GBP/USD spread

Approx. 0.5 pips, Optimum/Raw pricing

Commission

Approx. $3.50 per side / $7 round turn

All-in cost, EUR/USD

Approx. 0.9 pips

Spread type

Variable

Overnight swap

Both: overnight swaps may be charged or credited

Deposit fee

Method-dependent; FXChoice offers reimbursement on qualifying deposit fees

Withdrawal fee

Method-dependent

Currency conversion

Conversion at applicable exchange rate

Complaints about cost are usually complaints about swap and inactivity fees rather than the spread.

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

FXChoice lists a minimum deposit of $10. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Commodities, Precious Metals, Indices, Shares, Cryptocurrencies

Currency pairs

35+

Total instruments

100+

Crypto CFDs

Yes

Maximum leverage

1:1000

Execution model

NDD

Execution speed

Approx. 100ms

Order types

Market, limit, stop, stop-loss, take-profit, trailing stop

Servers

Global financial data-centre infrastructure

Leverage up to 1:1000 is available on this entity. High leverage does not increase your expected return - it increases position size for the same deposit, and shortens the move needed to close you out.

FXChoice covers forex, commodities, precious metals, indices, shares, cryptocurrencies. A wider range matters less than depth in the instruments you actually trade.

Funding options: credit/debit cards, bank transfer, e-wallets, cryptocurrencies and regional payment methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

MetaTrader 4, MetaTrader 5, WebTrader

Own platform

No

Mobile app

Third-party

Browser trading

Yes

Automated trading

Yes, MT4/MT5 Expert Advisors

Copy trading

Yes

Indicators

30+ MT4; 38+ MT5; custom indicators supported

Third-party tools

MetaTrader 4, MetaTrader 5, VPS

API access

Yes, institutional/FIX connectivity

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

MetaTrader 5 handles more asset classes and order types than MT4, but expert advisors are not compatible between the two - an MT4 EA will not run on it.

Minimum deposit

$10

Account types

Optimum, Classic, Pro, Islamic/Swap-Free, Demo

Account currencies

USD, EUR, GBP, AUD, CAD, Gold, Bitcoin

Islamic account

Yes

Demo account

Yes

Professional account

Yes, Pro/high-volume configuration

Minimum trade size

0.01 lots

Time to open

Typically a few minutes

Support hours

24/5

Contact channels

Live chat, support ticket, email, phone

Languages

Multilingual

Telephone

+52 556 826 8868

Email

support@myfxchoice.com

Live chat response

Typically under 2 minutes

Education

Moderate: Help Centre, trading guides, platform tutorials, forex education and webinars

Research

Market news, economic analysis and trading tools