About the company:
Over the last ten years, the firm has evolved into a major ECN broker, offering both private and institutional clients Forex and CFD trading services. FXChoice provides award-winning trading platforms, client support, and further analysis tools, among other things. Assets available are listed below:
- Indices-six of the world’s leading indices.
- Forex: 36 popular currency pairs.
- Commodities – invest in gold, silver, or US Brent crude oil.
- Cryptocurrencies: Bitcoin, Litecoin, and Ethereum
MT4 is ideal for anyone searching for a tried-and-true trading solution, whether they are beginners or seasoned traders. The bilingual platform includes a number of advanced charting tools and customizable features that may be tailored to fit a range of tactics.
Users get a more professional MT5 experience and more capabilities, such as market depth viewing, extra technical indicators and timeframes, and six different types of pending orders as the successor to MT4. Because of the larger dashboard, the interface is a little easier to use than before.
The online terminal, which is accessible for MT4 and MT5 users, allows you to trade from anywhere with an internet connection without having to download any software. Traders can save time and storage space by using an interface that is almost identical to the desktop version.
The MT4 and MT5 mobile applications, which are compatible with iOS and Android smart devices, make mobile trading simple (APK). The applications have all of the same functionality as the desktop platforms, plus additional features like push alerts and interactive pricing charts. Multiple charts can be displayed in the same window on the iPad. Go to the App Store or Google Play to get it.
Spreads start at roughly 0.6 pips for EURUSD on a Pro account, which is fairly competitive when compared to similar brands like FXTM. Please keep in mind that pro accounts have a $3.50 per side cost. For EURUSD, the traditional commission-free account has a spread of roughly 1.4 pips.
Leverage ranges from 1:25 to 1:200 for both account types. These prices are exceptionally high, and they aren’t subject to the 1:30 restriction imposed by most CySEC-regulated brokers. The contract specifications and the product documentation both include detailed information on margin needs.
Withdrawals are completed within 24 hours from Monday to Friday, and many of the same methods are accessible. All electronic payments are credited instantaneously after processing, but cryptocurrency might take up to several hours. It may take up to five business days for bank transfers to be completed.
Demo accounts for Classic MT4, Pro MT4, and Pro MT5 are available. Users can practice with a bespoke amount of virtual funds in a risk-free environment with almost equal trading circumstances. Demo accounts expire after 90 days of inactivity, although they can be kept open indefinitely.
If you deposit in Bitcoin, the firm will give you a 15% incentive. When opening a classic or pro account with the forex broker, all clients are instantly registered in the Pips+ loyalty program. The program has five tiers and rewards active traders with larger discounts and reduced fees.
Overview of rules
Under license number 000067/96, the firm is a reputable broker recognized and regulated by Belize’s International Financial Services Commission (IFSC). Traders should be aware that the IFSC is not a top-level regulator and, hence, may not provide the same degree of protection as other organizations. However, any amount of control is preferable to none at all. All customer funds are maintained in segregated bank accounts, and the broker also provides negative balance protection.
The MT4 signal service plugin and the Myfxbook AutoTrade service are two essential trading services accessible. There’s also a range of MT4 EAs to download, including scalping EAs, GPSForexRobot and pip calculators. Technical information and video lessons for MT4 and MT5 may be found in the FAQ area, which is rather substantial. Other well-known businesses, such as Forex.com and IG, however, provide a greater selection of instructional resources and research.