There is also a selection of Expert Advisors for MT4 to download, including the GPSForexRobot for scalping, plus pip calculators. Previous welcome bonuses and deals have also included a free VPS promo code, so it is worth checking the website for future promotions. Our experts found that paper trading profiles expire after 90 days of inactivity.

Credit/debit cards remain absent from withdrawal methods, but FXChoice suggests requesting withdrawals the same way traders made a deposit. Overall, FXChoice maintains an excellent choice of deposit and withdrawal methods. Traders must use the same payment method for both deposits and withdrawals, which helps maintain security and efficiency.

What is the minimum deposit for FXChoice accounts?

This is one of the more important aspects of a broker that you will want to know, outside of the safety of operations, and the features of the platform. After all, how much it costs to trade with your chosen broker will have a significant impact on the net position of your account over time. FXChoice imposes restrictions on clients from several countries due to regulatory and compliance reasons. Traders from Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, and the Syrian Arab Republic are not permitted to open accounts with the broker. Additionally, FXChoice does not accept clients from the United States and its territories, including Guam, Northern Mariana Islands, Puerto Rico, and the US Virgin Islands. These restrictions are in place to ensure the broker complies with international regulations and standards.

FXChoice markets and products

The platform includes multiple timeframes, 4 pending order types, and over 2,000 technical indicators and graphical objects. Additionally, MT4 supports Expert Advisors (EAs) for automated trading and features a single-thread strategy tester to refine your trading approach. For transparency, you can view all of the spreads and commissions on the pages dedicated to each asset. Interestingly, FXChoice lists the spreads in terms of USD (or the account currency) instead of pips. This method of listing spreads may be easier if you’re a trader beginning to grasp the markets, although it may take a little bit of time for experienced traders to get used to. FXChoice offers award-winning trading platforms and customer service, as well as additional analysis tools.

• This ensures that traders receive the best possible price for their trades.
• FXChoice offers a robust educational platform for traders of all experience levels.
• Three cryptocurrency pairs, six commodities, six index CFDs, and 55 equity CFDs complete the list.
• Traders should carefully review the broker’s fee schedule and choose the most cost-effective option for their needs.
• This can usually be avoided by using one of the many different options available.
• Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Pros

If you are depositing funds by one of the eWallets (electronic wallets) or credit/debit card, your payment is automatically deducted the fees and then the net amount is credited to your account. All around, FXChoice appears to be committed to delivering a service that leaves customers satisfied and supported throughout the entirety of their trading. You can see below a table outlining some of the key differences between the three account types. Having been incorporated way back in 2010, FXChoice has a history that is longer than many of its’ competitors. To do this when mandated is not an indicator of a companies ethics, but to do so when it is not essential could be seen as the mark of a good broker. On its website, FXChoice notes its registration number with the International Financial Services Commission (IFSC) of Belize, its sole regulator.

For beginners or those who want to test strategies with minimal risk, such an option would be very useful. For my part, I’m already working on a standard account, but I remember that at the start of my journey, I was missing something simpler. All in all, the trading experience with FXChoice has proven to be one that ticks many boxes, with a solid choice of MetaTrader options ably supported by copy trading platforms. There is flexibility to trade the way you want, with a variety of different trading styles accepted with FXChoice that are not allowed elsewhere, including scalping and hedging strategies. MetaTrader 5 (MT5) is the advanced successor to MT4, offering a more professional trading experience with enhanced capabilities.

• The broker operates on a straight-through processing (STP) model, which means that all client orders are executed without any interference or manipulation.
• FXChoice provides a thorough Forex Trading Guide with eight chapters and an FXEducation Glossary to help traders improve their market knowledge and trading skills.
• From a quality standpoint, FXChoice has been awarded LiveHelpNow’s exception customer service award for 3 years running, which is a positive thatspeaks beyond the experience we have had with the broker.

Trading signals and indicators

Trade within your plan, and use any bonus in a smart way to amplify your results and provide adequate margin rather than by purely increasing position sizes. There are a full range of FXChoice demo accounts available, allowing you to test the classic, or pro accounts on MT4 and MT5 platforms. The process is made very user friendly, with a few basic pieces of information required alongside basic telephone verification. Once users are with FXChoice, they continue to provide a strong value proposition with loyalty programs, and an extension of ongoing promotions. When you add to this the highly competitive spreads, overall it is clear to see that FXChoice is really pushing to compete strongly when it comes to trading fees, and they are doing this very well. As indicated above, all deposits can be made into the broker without them charging you a fee, although when it comes to withdrawals there are some aspects you will want to keep an eye on.

Investors can save time and disc space with virtually the same interface as the desktop version. FXChoice requires proof of identity and proof of address for account verification. Accepted identity documents include a passport or national ID, and proof of address can be a utility bill or bank statement.

Those particular ones would be best to use with a Classic account instead of a Pro one.As mentioned, you can make use of 30 technical indicators built into MetaTrader 4 or 38 built into MetaTrader 5. Both of these platforms also support the ability to download other indicators, allowing you to conduct your own technical analysis. This platform is compatible with Windows and Mac computers, plus Android and iOS mobile devices. It is also available as a Web Terminal, with no downloads required and the ability to trade in the browser of your choice. The WebTerminal includes universal trading activity access, basic analytical objects, real-time quotes via MarketWatch, and customizable price charts.

This includes forex, cryptocurrency CFDs, index CFDs, and commodity CFDs, the last of which includes precious metals and energies. Whilst this is a more limited offering than at other brokers, our FXChoice reviewers found that there were still plenty of opportunities to diversify your portfolio. All account types have five decimal pricing and the minimum tradeable lot size is always 1,000 units of the base currency, which is a 0.01 MT4 lot.

Traders from other eligible countries can sign up for an account with FXChoice without restrictions. You can submit a request through the Backoffice to open a new account with the desired type. Keep in mind that existing funds and positions may need to be transferred manually. FXChoice accepts credit card and debit card withdrawals in addition to the options listed below. As a matter of policy, the same method of funding must be used for deposits and withdrawals. As mentioned earlier, we were impressed during this FXChoice review to see that fx choice review a 15% deposit bonus for Bitcoin deposits.

Here is our overview of the FXChoice Minimum deposit as well as the pros and cons as well as features that are offered to traders. You should consider whether you can afford to take the high risk of losing your money. To ensure that you have no problem placing trades or getting to know MetaTrader 4 and MetaTrader 5, FXChoice has platform tutorial videos in the FAQ section for each platform. You can also access some of these videos on the designated pages of FXChoice’s website for MT4 and MT5. MetaTrader 5 features 38 technical indicators, 44 graphical objects, and 21 timeframes built-in. It also has an economic calendar integrated and an embedded MQL5.community chat.

Customer support is another aspect where FXChoice truly shines, as evident by their winning of the 2020 LiveHelpNow Challenge. Clients have access to 24/5 assistance, most conveniently via live chat, and a callback option exists, along with a web form. The FAQ section answers most of the common questions, and FXChoice states it attempts to respond within 24 hours.

It allows traders to take a vacation without fear of incurring costs over time, demonstrating their commitment to long-term client relationships. FXChoice offers the Islamic Account, a swap-free option that follows Sharia law, primarily for Muslim traders who cannot engage in interest-earning transactions. This account, a subset of Classic or Pro accounts, offers similar trading conditions without swap costs.