FXChoice 2021 Overview
FXChoice, founded in 2010, is an ECN-format company (a marketplace where sellers and buyers of liquidity automatically connect). Like many companies, it offers financial assets for every taste and commissions are minimal. You can trade on all markets, commodities with a wide range of positions, as well as choose the most appropriate token or contract.
Statistically, every four seconds there is a transaction to buy or sell an asset on the platform. The company is working daily to increase the speed of operations and improve the quality of services. All operations and commissions are transparent and client service is of the highest level. Safety of client’s funds is provided by automatic placement of orders without broker’s participation, the same ensures high speed of execution.
FXChoice has been repeatedly awarded for high quality customer service and is valued positively in many respected exchange publications.
Regulation of FXChoice
The brand is managed by FX Choice Limited, registered in Belize, respectively, is regulated by the local authority – in Belize, which is authorized and regulated by the International Financial Services Commission of Belize (IFSC). This commission was founded only in 2007 on behalf of the government of that state. Getting a license is difficult enough, despite the practical absence of supervision at a later time. However, this does not interfere with the quality of this broker.
According to the rules, client and company funds are differentiated and kept separately. Not every company can boast of having a risk study department, which is a definite plus.
The system is set up so that it is virtually impossible to go into deficit; if there is not enough margin for a transaction, it will close automatically.
You will not learn anything new here, working on the two key and most famous platforms MT4 and MT5, both are equally suitable for opening all positions and subsequent analysis.
FXChoice trading tools
FXChoice has a wide range of tools, including those for automated trading, such as copying trades of successful brokers. Also. We warn you. That the history of transactions is only informative, the market is fickle and you constantly need to follow the news and trends.
MetaQuotes is a service for the exchange of trading signals, you can use the signals of third-party market participants, and you yourself can be a donor of such signals if you have sufficient experience. So as not to mislead other traders. The service is developed as a part of Metatrader. No additional software or extensions are required to be installed on your devices. It is worth noting. That the service is not free, more information on the website of the service provider. There are also videos that show in detail how to use it.
Experienced traders actively use social network Myfxbook, because traders’ trading signals are placed there, and FXChoise has an opportunity to use these signals in the automatic mode.
If you can’t be online all the time, you can use a virtual server with plenty of power which is not only convenient but also reduces the time it takes to open a trade. It is also suitable for traders. Using automatic trading. Rent of virtual server is paid. Rates are at the service provider’s site. VIP level clients with balance from 3 thousand dollars and more can use this service without additional charges.
FXChoice accounts and commissions
For beginners this is the classical account with MT4 support and a standard set of tools; if you want the advanced level with MT5 support, then the professional account is more suitable.
Classic MT4 account
Commission is included in the spreads, so at first glance, the spreads may seem high and start at 0.5 pips. This is a relatively simple and convenient system of calculations. On this chart, the starting deposit is 100 dollars, the volume of transactions is 0.01, the time limit is at the level of 1000. Financial leverage is quite high, the maximal level of 1:200, it is possible to work with hedging.
MT4 / 5 Pro account
Suitable for experienced market participants who value tight spreads. It has a commission of $3.5 in addition to the spread. If your trading strategy is based on narrow spreads, this is your choice. Leverage. As with the classical version of the 1:200 trading account, the set of tools is much larger. Minimal deposit level is also 100 dollars, lots from 0.01 to 1000.
Account management for several accounts (multi-account manager).
If the trader has his own team or client base that he would like to manage, he can set up multi account management for a fee. An application for a multi-account manager can be left on the company’s website.
Opening an FXChoice account
Takes no more than five minutes. It is enough to fill in the application form on the website and specify the e-mail address. In order to use the account, receive benefits, verification is required; for this, the company will require a document. Proof of identity, verification of address (utility bill, for example).