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Broker
▸ Broker Review · 2026
FXChoice Review 2026
EF SCORE
3.0 /10
Trust & Safety warning: Engine Forex does not recommend this broker.
Our regulatory verification gives FXChoice a Trust & Safety grade of F (27/100). This grade is based on what financial regulators' own public registers show, not on opinion. What we found: the US Commodity Futures Trading Commission lists FXChoice on its RED List for soliciting US clients without registration, and FXChoice’s stated Belize licence could not be confirmed on the regulator’s register. Because of this grade, FXChoice's overall Engine Forex score is capped at 3.0/10, and this page does not contain links to the broker. The full findings, with the register sources for each, are in the Regulation section below.
FXChoice is a high-risk broker. Its sole claimed FSC Belize licence could not be confirmed on the regulator's public register, earning it a trust score of just 27/100 (Grade F). The USD 10 minimum deposit and Pro account spreads from 0 pips look attractive, but no verifiable regulation, no investor compensation scheme, and credible reports of ceased operations make this a broker most traders should avoid.
Pros
✓Very low minimum deposit of USD 10
✓Leverage up to 1:1000 (International)
✓Pro account spreads from 0 pips
✓Cryptocurrency deposit methods including USDT
✓Pips+ loyalty programme with tiered rebates
Cons
✗Regulatory licence not found on FSC register
✗No investor compensation scheme identified
✗Client fund segregation policy undisclosed
✗CFTC RED List entry since August 2015
✗Key fee details hidden behind Backoffice login
How we reviewed FXChoice: This review was researched and written using EngineForex's broker review methodology. We read every relevant page of the broker's website, verified each claimed regulatory licence against the issuing authority's public register, checked Trustpilot ratings live at time of writing, and cross-referenced findings across at least two independent sources before publication. Spreads, fees, and leverage figures are pulled directly from the broker's published account-type pages. For our full methodology, see EngineForex's "How We Review Brokers" page. Read our full methodology →
Level 01 / 09▸ Overview
Overview
Captured September 2026, en.myfxchoice.com
FX Choice Limited is a Belize-based online forex and CFD broker established under company Registration No. 000003992. The firm offers trading services with an emphasis on flexible account funding and platform choice. Historically, it positioned itself as an accessible option for traders in regions where many larger, multi-regulated firms do not operate, particularly Latin America, Southeast Asia, and parts of Africa.
The broker supports MetaTrader 4 and MetaTrader 5, catering to traders who prefer the MT4/MT5 ecosystem for both manual and algorithmic strategies. FXChoice built its early reputation partly on accepting cryptocurrency deposits and a broad range of alternative payment methods.
That foundation is now shifting: the broker's own website carries a notice that crypto transactions are ending.
Why does the jurisdiction matter? Belize's regulatory environment is considerably less stringent than that of the UK's FCA, Australia's ASIC, or Cyprus's CySEC. Lighter capital requirements, less rigorous auditing, and weaker enforcement mechanisms are the practical consequences.
On top of that, the broker's operational status remains uncertain. Multiple third-party sources report it has stopped accepting new clients. If you are considering FXChoice, verify current onboarding availability directly before attempting to open an account.
Who it is for: Cost-conscious, platform-savvy traders who value diverse funding methods and who fully understand the risks of operating with a broker whose regulatory licence cannot be independently confirmed.
Level 02 / 09★ Safety
Trust & Regulation
FXChoice earns a trust score of 27/100 (Grade F). That score reflects serious verification concerns around its sole claimed regulatory licence and reports of effectively ceased operations.
Captured September 2026, en.myfxchoice.com
What licences does FXChoice hold?
FX Choice Limited claims regulation by the Financial Services Commission (FSC) of Belize, citing licence number 000067/301 on its terms and conditions and data protection pages. We searched the FSC of Belize's public register for "FX Choice Limited" and found no matching entry.
Put plainly: this licence could not be independently confirmed through any publicly available regulatory records.
A second registration number compounds the concern. The deposits and withdrawals pages referencing Banco do Brasil and Itau cite FSC Belize Registration No. 000067/34, rather than 000067/301. That alternative number also returned no matching entry when searched against the FSC register.
Two different registration numbers, neither locatable on the regulator's public register, is the kind of discrepancy that should give any trader serious pause.
FXChoice holds one regulator under two licence numbers: the Financial Services Commission (FSC) of Belize, formerly known as the International Financial Services Commission (IFSC) before its renaming. Both cited licence numbers reference the same regulatory body.
Offshore-only regulation typically translates into weaker safeguards for you as a trader.
How are client funds protected?
No evidence of an investor compensation scheme covering FXChoice clients was found. No verifiable information regarding client fund segregation (the practice of keeping your money separate from the broker's operating funds) could be located either.
Under tier-1 frameworks, brokers must hold client funds in segregated accounts and participate in compensation schemes such as the UK's FSCS or CySEC's ICF. Without documented equivalents, you bear elevated counterparty risk.
Company history and reputation
FX Choice Limited was founded in 2010 and is headquartered in Belize. The broker built its early reputation around cryptocurrency deposit and withdrawal options. However, multiple verified sources indicate it has effectively ceased normal operations.
According to DayTrading.com, FXChoice no longer accepts new clients after the FSC barred it from accepting cryptocurrency deposits and withdrawals. Several Trustpilot reviewers from early 2024 corroborate that trading was unavailable and deposits were not being accepted.
On Trustpilot (myfxchoice.com), FXChoice holds a 4.0 out of 5 rating across 138 reviews, with 52% five-star and 10% one-star ratings. Notably, there are zero reviews in the last 12 months and no recent history of the broker inviting feedback. That pattern is consistent with suspended operations.
FXChoice also appears on the U.S. CFTC's RED List, dated 21 August 2015, noting the broker was soliciting U.S. customers without CFTC registration. While this entry is over a decade old, it remains public record and underscores a historical pattern of operating outside major regulatory boundaries.
EngineForex Trust Score
FXChoice: 27/100 (Grade F)
Component
Score
Note
Regulator tier coverage
10/40
1 tier-3 (offshore) licence only
Number of regulators
2/15
1 regulator
Years of operation
15/15
16 years (10+)
Trustpilot rating
0/20
no Trustpilot rating
Trustpilot review volume
0/10
no Trustpilot reviews
*Computed deterministically from verified register reads, founding year, and live Trustpilot data. See EngineForex's "How We Review Brokers" for the full methodology.*
▸ At a Glance
Category
Score
Why
Trust & Safety
2.7/10
Offshore-only FSC Belize; licence 000067/301 not found on register; no compensation scheme; CFTC RED List entry
Fees & Spreads
6.0/10
Pro account from 0 pips but commission unspecified; Optimum zero commission; swap-free index CFDs
Platforms & Tools
6.0/10
MT4 as core platform, MT5 on Pro account only; no cTrader or proprietary platform
Research
4.0/10
MQL5 signals and Myfxbook AutoTrade available; no daily analysis or economic calendar found
Education
4.0/10
FXEducation platform mentioned plus YouTube tutorials; no structured courses or webinars
Customer Support
6.0/10
LiveHelpNow Exceptional Customer Service award 2019 through 2024; channels and hours unspecified
Mobile Experience
6.0/10
Standard MT4/MT5 mobile apps assumed; no native app or app-store ratings documented
Tradable Instruments
6.0/10
FX, crypto, indices, and shares offered but exact instrument count unavailable
★ Cost Score
Level 03 / 09◆ Fees
Fees & Spreads
FXChoice structures its pricing across two broad models. The MT4 Optimum and Classic accounts charge zero commission but apply wider spreads. The MT4/5 Pro account advertises raw spreads from 0 pips with a per-trade commission.
The broker's public pages do not publish specific spread figures for individual instruments, so you will need to consult the live platform or Backoffice for real-time pricing.
Captured September 2026, en.myfxchoice.com
What are the spreads?
Account Type
Instrument
Spread
Data Type
Source
MT4/5 Pro
All instruments
From 0 pips
"from"
Broker accounts page, read 2026
MT4 Optimum / Classic
All instruments
Not specified
n/a
Broker accounts page, read 2026
Because FXChoice does not publish benchmark instrument-level spreads, a direct numerical comparison with competitors is not possible from desk research alone. If you are evaluating this broker, open a demo account first and compare live pricing against alternatives before committing real funds.
What commissions does FXChoice charge?
The MT4 Optimum and MT4 Classic accounts charge zero commission. The MT4/5 Pro account applies a commission, but the exact per-lot figure is not stated publicly (the Pips+ programme implies a per-volume commission starting above USD 15 per USD 1M traded at its highest tier).
Through the Pips+ Loyalty Programme, Pro account holders at Tier 1 can reduce their commission to USD 15 per USD 1M traded, while Classic account holders at the same tier receive a rebate of up to USD 20 per USD 1M traded. Qualification is steep: Tier 1 requires either USD 250,000 in equity over the previous 30 days or USD 100M in traded volume. That puts meaningful rebates out of reach for most retail traders.
How do swap and overnight charges work?
Swap charges (the cost or credit applied when you hold a position overnight) are quoted in fractional pips, called pippets, where one pippet equals 1/10 of a pip. Positions open between 23:59:45 and 23:59:59 server time roll to a new value date, and the standard Wednesday triple-swap rule applies.
Representative swap rates per standard lot:
EUR/USD: -5.74 pippets long / +2.71 pippets short
USD/JPY: +14.6064 pippets long (+USD 9.46) / -31.2794 pippets short (-USD 20.27)
BTC/USD: -USD 54.95 long / -USD 54.83 short
ETH/USD: -19.95 pippets long (-USD 2.00) / +5.7 pippets short (+USD 0.57)
XAG/USD (Silver): -2.3695 pippets long (-USD 11.85) / +1.0855 pippets short (+USD 5.43) (reported from CY and DE geo-versions)
All listed index CFDs (DE30, JAPAN, US30, US500, USTECH, UK100): 0.00 in both directions
What about inactivity and other fees?
FXChoice charges a USD 50 (or equivalent) monthly fee on inactive accounts that have remained dormant for 6 months. Tether (USDT) and XRP deposits and withdrawals each incur a 0.5% transaction fee.
Bitcoin transaction fees are not stated on the method page and must be checked in the Backoffice. FarsiChange transfers are free of charge.
FXChoice does not cover network mining fees on outgoing cryptocurrency transactions.
Level 04 / 09▶ Platforms
Platforms
FXChoice offers MetaTrader 4 (MT4) as its core platform across all jurisdictions. MetaTrader 5 (MT5) is available exclusively on the MT4/5 Pro account. No proprietary platform, cTrader integration, or TradingView connection is listed.
Traders who rely on cTrader's depth-of-market features or TradingView's charting ecosystem will find this a notable gap.
Captured September 2026, en.myfxchoice.com
MT4 provides three chart types (bar, candlestick, line) and eight timeframes ranging from 1-minute to 1-month. All charts are based on the Bid price.
Order types include market orders, four pending order variants (Buy Limit, Sell Limit, Buy Stop, Sell Stop), Stop Loss, Take Profit, one-click trading, trailing stops, hedging, and partial closes.
Full Expert Advisor (EA) support is available on MT4, with EAs (custom algorithms that execute trades automatically based on pre-programmed rules) running directly on the platform. The broker also offers a VPS programme for stable connectivity during automated trading sessions.
Copy-trading is supported through MQL5 Trading Signals (accessible within MT4) and Myfxbook AutoTrade, a mirror-trading service with no joining fee or additional software required. Myfxbook AutoTrade is not available to clients from Iran and Israel.
Level 05 / 09▸ Instruments
Tradable Instruments
FXChoice offers trading across forex currency pairs, indices, commodities, and cryptocurrencies, though specific instrument counts are not publicly documented. Within cryptocurrencies, the broker notes that crypto instruments are less vulnerable to high-impact news events, making technical analysis the prioritised approach for those markets.
A significant development deserves attention: the broker has published a notice stating that crypto transactions are coming to an end. While this references the discontinuation of cryptocurrency deposit and withdrawal methods, you should verify directly whether crypto trading instruments remain available or whether the change extends beyond funding channels.
Asset Class
Forex Pairs
Index CFDs
Crypto CFDs
Commodities
Shares
Instrument Count
Not disclosed
Not disclosed
Not disclosed
Not disclosed
Not disclosed
The absence of published instrument counts is itself a transparency concern that compounds the regulatory red flags discussed in the Trust & Regulation section.
Level 06 / 09▶ Accounts
Account Types
FXChoice offers three individual account types: MT4 Optimum, MT4 Classic, and MT4/5 Pro. The MT4 Optimum account has a confirmed minimum deposit of USD 10.
The Classic and Pro accounts do not explicitly state their minimum deposits on the accounts page. Supported base currencies are USD, EUR, GBP, AUD, CAD, and Gold.
Captured September 2026, en.myfxchoice.com
Feature
MT4 Optimum
MT4 Classic
MT4/5 Pro
Minimum Deposit
USD 10 (confirmed)
Not disclosed on site
Not disclosed on site
Spreads
Marked-up (zero commission)
Tight, marked-up (commission-free)
From 0.0 pips (raw)
Commission
None
None
Applies (amount undisclosed)
Execution Model
Standard
Non-Dealing-Desk (NDD)
Non-Dealing-Desk (NDD)
Max Leverage
1:1000 (International)
1:1000 (International)
1:1000 (International)
Platform
MT4
MT4
MT4 / MT5
Demo Available
Yes
Yes
Yes
The MT4 Optimum account is the entry-level option. It charges zero commission and qualifies for the No Deposit Bonus promotion. NDD (Non-Dealing-Desk) execution, where the broker routes your orders directly to liquidity providers rather than trading against you, is only available on the higher tiers.
The MT4 Classic steps up to NDD technology with tighter spreads while remaining commission-free. The MT4/5 Pro targets experienced traders with raw spreads from 0.0 pips and direct market liquidity. This is also the only tier supporting both MT4 and MT5.
The distinction between the Optimum's standard execution and the Classic/Pro NDD models matters most for scalpers and high-frequency strategies, where execution quality and potential conflicts of interest become decisive factors.
Maximum leverage of 1:1000 (International) is advertised consistently across all geographic versions of the site. A separate trading page also references a 1:1001 ratio when viewed from Belize. No information regarding swap-free (Islamic) account availability was found.
Corporate accounts mirror all three individual types. Demo accounts are available for every account type.
Level 07 / 09▸ Deposit
Deposits & Withdrawals
FXChoice accepts card payments through Visa, MasterCard, Maestro, JCB, and other card associations, alongside cryptocurrency options such as Tether (USDT) and regional channels including FarsiChange and Brazilian bank transfers via Itau and Banco do Brasil. All card deposits are converted to EUR, USD, or GBP upon receipt.
Withdrawal requests are generally handled within 24 hours on business days once confirmed. If additional details or documents are required, the 24-hour clock restarts upon receipt of those documents.
For Tether withdrawals specifically, requests during business hours are typically processed within one to three days; requests outside business hours are processed the next workday within 8.5 business hours.
The broker enforces a strict no-third-party-payments policy: your cardholder name must match the trading account holder exactly. FXChoice reserves the right to charge fees for withdrawals based on costs incurred, and an additional fee may apply if you use a different payment system from the one used to deposit.
Level 08 / 09▶ Education
Research & Education
The research and education offering is notably thin. FXChoice integrates MQL5 Trading Signals for automatic trade replication through MetaTrader.
Myfxbook AutoTrade is also available as a mirror-trading service requiring no joining fee, though it is restricted for clients from Iran and Israel.
The broker references an "FXEducation" platform and offers video tutorials on its YouTube channel covering platform operation and Myfxbook setup. Beyond these resources, FXChoice does not appear to provide daily market analysis, an in-house economic calendar, webinars, structured trading courses, or regular market commentary.
For beginner or intermediate traders, this represents a significant gap. You will need to rely almost entirely on third-party resources to develop your trading knowledge.
Level 09 / 09★ Support
Customer Support
FXChoice has received LiveHelpNow's Exceptional Customer Service award consecutively from 2019 through 2024, spanning all regional entities. A live-chat system is implied by this award, which evaluates chat-based interactions.
Beyond that, specific details are scarce. Phone support availability, email response benchmarks, supported languages, operating hours, and a formal complaint-escalation procedure are not confirmed in publicly accessible documentation.
It is also unclear whether support is available in Portuguese or Spanish, languages highly relevant to the broker's Latin American client base. Contact FXChoice directly to confirm current channel availability and language options before opening an account.
▸ Our Verdict
Our Verdict on FXChoice
EF SCORE
3.0 /10
FXChoice presents a risk profile that demands extreme caution. The trust pillar is the broker's most significant liability. FX Choice Limited claims regulation by the FSC of Belize under licence 000067/301, yet searches of the FSC Belize register returned no matching entry for that licence or the alternative number 000067/34. No investor compensation scheme or explicit client fund segregation policy could be located.
The CFTC placed FXChoice on its RED List in 2015 for soliciting U.S. customers without registration, and multiple sources report that the broker has effectively stopped accepting new clients.
On fees, while headline spreads on Pro accounts start from 0 pips and Classic accounts carry zero commission, key cost details are deferred to the Backoffice rather than disclosed upfront. The Pips+ Loyalty Programme offers tiered rebates up to USD 20 per USD 1M traded on Classic accounts, but the qualification thresholds limit its practical reach for most retail traders.
The education offering is sparse, providing little structured learning for newer traders.
The remaining pillars, including platform availability (MT4 and MT5), instrument range, and customer support, perform at a middling level: functional but unremarkable. If you are still considering FXChoice, take three steps first.
Verify that the broker is still operational and accepting clients. Confirm the regulatory status directly with the FSC of Belize. Then ask yourself honestly whether an offshore-only broker with unverifiable credentials meets your risk tolerance.
Best for: Experienced, risk-aware traders who specifically need cryptocurrency-denominated funding and accept operating under unverified offshore regulation.
Skip if: You prioritise strong regulatory protection, transparent fee disclosure, or comprehensive educational support. Consider brokers regulated by the FCA, ASIC, or CySEC instead.
Steffen Droll is the chief editor of Engine Forex. He set the scoring methodology every broker on the site is measured against, and he signs off on each review before it publishes, including checking every licence number against the regulator's own public register.
Published Sep 8, 2026 · Updated Sep 25, 2026
Frequently Asked Questions
FX Choice Limited claims regulation by the Financial Services Commission (FSC) of Belize under licence number 000067/301, as stated on its terms and conditions and data protection pages. However, when we searched the FSC Belize register, no matching entry for "FX Choice Limited" was found under either licence number 000067/301 or 000067/34. The company is incorporated in Belize under company Registration No. 000003992, but the inability to confirm its regulatory status on the FSC register is a significant concern. There is no evidence of an investor compensation scheme or a published client fund segregation policy.
The minimum deposit is USD 10, explicitly confirmed for the MT4 Optimum account. The USD 10 figure also appears as a general reference across other pages of the site, though the Classic and Pro accounts do not separately state their minimum deposits on the accounts page.
FXChoice provides three individual account types: the MT4 Optimum (zero commission, leverage 1:1000 (International)), the MT4 Classic (NDD execution, commission-free, tight spreads), and the MT4/5 Pro (NDD execution, spreads from 0 pips, direct market liquidity). Corporate variants of all three are also offered. Demo accounts are available for every type. Supported base currencies include USD, EUR, GBP, AUD, CAD, and Gold.
Maximum leverage is 1:1000 (International) as advertised on the accounts page, displayed consistently across the BZ, GB, CY, DE, and AU geo-versions of the site. A separate trading page also references a 1:1001 ratio when viewed from Belize. Leverage filter options visible on the trading page include 1:25, 1:50, 1:100, and 1:200, indicating that actual available ratios can be configured at lower levels.
The MT4 Optimum account carries zero commission, while the MT4/5 Pro account advertises spreads from 0 pips with a commission structure not explicitly quantified publicly. USDT and XRP transactions each incur a 0.5% fee. Bitcoin fee details must be checked in the Backoffice. The Pips+ Loyalty Programme can reduce costs: Tier 1 Classic holders receive up to USD 20 rebate per USD 1M traded, and Tier 1 Pro holders benefit from a minimum commission of USD 15 per USD 1M traded.
Withdrawal requests are generally processed within 24 hours on business days once confirmed, provided no additional documentation is required. For Tether withdrawals, requests during business hours are typically processed within one to three days; requests outside business hours are processed the next workday within 8.5 business hours.
FXChoice charges a USD 50 (or equivalent) monthly fee on accounts that have remained inactive for 6 months. The broker states that fee details displayed in the Backoffice take precedence over website information.
