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Is FX CHOICE one of the best Australian Forex Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

FX Choice Limited was established in 2010 and is headquartered in Belize City, Belize.

It is a pure NDD (no dealing desk) broker that provides tight spreads in a stable, safe and secure environment.

Over the years, the company has received awards for multiple services, including their great customer service offering.


FX Choice

Our Rating

The overall rating is based on review by our experts

7.8 3.9 1
  • Reliability 7 / 10
  • Spread 9 / 10
  • Customer Service 8 / 10
  • Offers 8 / 10
  • Speed of Execution 8 / 10
  • Uptime 7 / 10

This post is also available in: deDeutsch

FX Choice - Overview

Trading Conditions

  • Max Leverage
    200:1
  • Platform
    MetaTrader4 MetaTrader5 Myfxbook
  • Min Deposit
    $100
  • Spread
    From 0.0 Pips
  • Cuts out Dealing Desk
    Yes

Methods of deposit and offers

  • Deposit / Withdraw
    VISA , MasterCard Skrill Neteller PerfectMoney fasaPay ePayments QIWI China Union Pay Bitcoin Wire Transfer
  • Welcome offer
    Up to 15% on every deposit
  • Rebates Engine Forex
    Coming soon!

Extras

  • Crypto
    n/a
  • Headquarter
    Belize

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT FX CHOICE

In Summary

  • Licensed & regulated by IFSC
  • Security of client funds
  • No dealing-desk intervention

FX Choice Limited is regulated and authorised by the IFSC (International Financial Services Commission), which guarantees a solid regulatory framework.

The company focuses on the security of client funds in particular with a mission to provide a safe and reliable trading environment.

The in-house Risk Management department ensures compliance in every area of the business and thoroughly monitors every type of operation.

Spreads Comparison

FX CHOICE
90
PEPPERSTONE
100
THINK MARKETS
80
IC MARKETS
100
Dukascopy
100
XM
100

CHARGES AND MARGINS AT FX CHOICE

In Summary

  • Spread mark-up or
  • Forex spreads from 0.0 pips
  • Up to 200:1 leverage

As is true for all brokers, clients pay either a spread or commission on every non-share CFD.

FXChoice doesn’t offer the widest range of available markets, but its trading conditions and environment are great.

As an example, this broker offers ultra-low spreads, starting from 0.0 on Forex pairs.

Clients can choose from 10 CFDs, including the USTECH Index, Wall Street 30, UK 100, Germany 30 and WTI Crude Oil. As an example, the margin per contract starts from 2,214.90 on WTI Crude Oil.

TECHNOLOGY

In Summary

  • Solid trade execution
  • MT4 & MT5 platforms
  • NDD
  • Myfxbook AutoTrade

With FXChoice, traders can select from two of the most popular trading platforms available on the market: MetaTrader4 (MT4) and its younger brother, MetaTrader5 (MT5).

Both platforms are available on almost any device, be it desktop computers, Android or iOS, and can be utilized with both the Classic and Pro account types.

Fans of copy trading can take advantage of the popular Myfxbook AutoTrade platform, an online automated analytical tool that allows users to connect to the first-ever large social and copy trading community.

MetaQuotes provides a unique service called Trading Signals, which allows clients to shadow the trades of seasoned trading veterans (Signal Providers). This service can easily be installed into an MT4 account and works very well alongside other EAs or a trader’s own trading strategy. This service is especially beneficial to clients who are new to trading.

FXChoice also offers a free VPS (Virtual Private Server) to any client who has an account balance of $3,000 or more.

Execution of Speed Comparison

FX CHOICE
80
PEPPERSTONE
100
THINK MARKETS
90
IC MARKETS
100
Dukascopy
90
XM
80

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF FX CHOICE'S CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/5 customer support
  • 2 account type options
  • Benefits for high volume traders
  • Free VPS available

FXChoice offers award-winning 24/5 customer service with a team of customer success managers that can be contacted via Live Chat and telephone.

FXChoice offers two different trading accounts with different benefits. The best fit depends on what you, as a trader, are looking for. If you are rather new to online trading, you might want to get started with an account that features $0 commission, or perhaps you might be interested in ultra-low spreads from 0.0 pips.

High volume or institutional traders are also very welcome and can benefit from FXChoice’s “Pips+ for Pro accounts” offered on both MT4 and MT5. This program allows highly active traders to reduce their trading costs.

The program consists of five tiers, and all FXChoice Pro account holders are automatically enrolled. Clients can upgrade their status and decrease their commission costs in two ways: by increasing the overall turnover volume or by depositing larger amounts in equity. Below is a quick overview of the five tiers:

FOREX AND OTHER TRADING OPTIONS AT FX CHOICE

In Summary

  • 68 currency pairs
  • 2 precious metals
  • 10 indices CFDs

FXChoice offers ultra-low spreads, starting from 0.0 Pips on the Pro account option. The Classic account comes with starting spreads from 0.5 Pips. Leverage can be set as high as 200:1 and the minimum deposit size is $100 for both account types.

There are up to 38 tradable Forex pairs with a Pro account (versus 28 with a Classic account) as well as 2 spot metals, Indices, metals, commodities and energies CFDs.

SPECIAL FEATURES OF FX CHOICE

In Summary

  • MT4, MT5 & Myfxbook AutoTrade Platforms
  • Fast execution speeds
  • Tight spreads starting from 0.0 pips
  • NDD & STP

FXChoice offers ultra-tight spreads starting from 0.0 Pips (on a Pro Account).

Clients benefit from a strictly NDD (no dealing desk) broker.

Decent leverage of up to 200:1 is available in a safe and stable trading environment.

MT4 and MT5 trading platforms are available.

Myfxbook AutoTrade is available for traders who wish to connect to a social trading network and use copy-trading strategies directly with their FXChoice account.

MetaQuote trading Signals are available on MT4.

FXChoice allows most trading styles, such as Expert Advisors (EAs), scalping and hedging.

Pro accounts offer lowered commissions for high volume traders or large equity accounts.

Max Leverage Comparison

FX CHOICE
200:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
IC MARKETS
500:1
Dukascopy
200:1
XM
500:1

IN CONCLUSION

FXChoice overall offers a very professional trade environment and a great customer service presence. Decent leverage and a good selection of tradable instruments are available. Institutional and high volume traders await excellent benefits and extra features worth checking out!