FXChoice earns a trust score of 45/100 (Grade D). That score reflects serious verification concerns around its sole claimed regulatory licence and reports of effectively ceased operations. This section is central to our FXChoice broker review because trust is the foundation on which every other pillar rests.
How is FXChoice regulated?
FX Choice Limited claims regulation by the Financial Services Commission (FSC) of Belize, citing licence number FSC (000067/301) on its website. 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 1 regulator under two licence numbers: the Financial Services Commission (FSC) of Belize, formerly known as the International Financial Services Commission (IFSC). 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. This is a critical finding for anyone asking is FXChoice safe for trading.
What is FXChoice's 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 third-party review sites, 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. FXChoice Trustpilot reviews are worth examining closely: 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: 65/100 (Grade C)
| Component | Score | Note |
|---|
| Regulator tier coverage | 40/40 | 1 tier-1 licence |
| Number of regulators | 10/15 | 3 regulators |
| 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.*
