FX Choice is a Multi-Assets Trading Platform with over 117+ Assets
Learn more about FX Choice.FX Choice is a multi asset platform with 117+ tradable Assets. Assets available on FX Choice include Forex trading, Spread Betting, Share Dealing.
FX Choice trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, Spread Betting, Share Dealing are considered financial assets.
Features of FX Choice
FX Choice offers Advanced Financial Chart comparison tools
FX Choice offers Research-backed analysis on financial markets and investments from top analysts
The FX Choice platform is available to use on multiple devices including and online through a Web Browser.
FX Choice offers an easy to use trading platform with tools for both New Traders and Seasoned Experts
FX Choice users benefit from using the FX Choice platform in over 15 different languages
What you should know
FX Choice offer three ways to trade: Forex trading, Spread Betting, Share Dealing. The assets and products available to you on the FX Choice trading platform depend on the region of the world you are in and what entity you have an account with.
With FX Choice you will need a minimum deposit of $10. You can sign up for a demo account to acquaint yourself with FX Choice platform.
FX Choice are able to accommodate various levels of traders whether you are experienced or a beginner.
Are FX Choice safe?
When choosing a broker like FX Choice the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion.
Established in 2008, and in operation for 15 years FX Choice have a head office in Belize .
FX Choice is regulated. This means FX Choice are supervised by and is checked for conduct by the International Financial Services Commission (IFSC) regulatory bodies.
Regulated brokers are highly unlikely to manipulate market prices due to the regulations imposed. When you send in a withdrawal request to FX Choice, this will be honored. If FX Choice violate any regulatory rules their regulated status could be stripped.
Is my money safe with FX Choice?
Any payments funded to FX Choice accounts by traders are held in a segregated bank account.
For added security FX Choice use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.
What are Tier 1 banks and why should FX Choice use them?
A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and are typically able to withstand unexpected losses.
What does it mean to have your funds in FX Choice deposited in a Tier 1 bank?
Having any money you deposit with FX Choice means that your funds are kept in a bank that has enough capital to accommodate your withdrawal wishes even if FX Choice goes out of business for some reason.
Therefore, we can safely conclude that FX Choice is reasonably secure and safe.
That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.
While trading in financial investments, losing money rapidly due to trading Forex trading, Spread Betting, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. FX Choice also clearly state on their platform that Your capital is at risk.
Now that we have answered some important questions regarding FX Choice. let us look at the FX Choice features in more detail.
Try creating two accounts when you are working with FX Choice. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.
Trading on FX Choice web platforms and other applications
FX Choice offer the popular MT4 forex trading platform.
FX Choice also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.
See FX Choice's platforms Is the FX Choice Trading Platform Secure?
FX Choice safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. FX Choice also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating FX Choice.
FX Choice Trading Platform Options
Once you have logged into your FX Choice account you will see the below trading platform options available to you.
MetaTrader 4 (MT4), MetaTrader 5 (MT5) and Website - Mobile trading
FX Choice offers the MetaTrader 5 (MT5) trading platform. If you are looking for an online platform that supports MT5, click here
FX Choice also offers a trading platform through its website and mobile application. Let's explore each of these trading platforms in detail and the options FX Choice has to offer.
Performing trades with FX Choice
FX Choice allow you to execute a minimum of trade of $0.00000114/0.01 LOTS. This may vary depending on the account you open. FX Choice allow you to execute a maxium trade of varies. As FX Choice offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.
As with most brokers, margin requirements do vary depending on the instruments.
CFD Trading on FX Choice
Let's take a look at some of the basics of using FX Choice leverage.
FX Choice offer CFD which are a leveraged product for this example we describe ten times leverage.
So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.
So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.
FX Choice leverage magnifies both profits and losses when trading.
Let's say for example you buy/sell ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the FX Choice trading platform.
let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.
It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.
Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.
The FX Choice leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.
FX Choice CFDs are typically used for short to medium term trades. For example FX Choice intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.
Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk
Education Resources at FX Choice
To trade effectively with FX Choice, it's important to get a have a good understanding of the FX Choice trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with FX Choice and externally.
FX Choice offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.
Having an analytical approach may be a good way to approach trading with FX Choice.
Take time to look around the FX Choice platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.
Customer Support at FX Choice
As part of our FX Choice review we review customer service options, response times and FX Choice trading platform problem resolution effectiveness. FX Choice support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
FX Choice have a D grade support rating because because sometimes the response was slow or our query wasnt answered. FX Choice less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.
Livechat Support at FX Choice
We tested the FX Choice live chat and it works well. We sent messages to FX Choice livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.
We tested communicating with FX Choice support in multiple languages in multiple countries. FX Choice where able to resolve our customer issues.
Email Support at FX Choice
We sent several emails to FX Choice and answer times overall were excellent. The fastest response from FX Choice was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with FX Choice, but this was our experience sending 10 emails at varying times.
The team resolved and answered our queries. Overall average email support from FX Choice.
Phone Support at FX Choice
We called FX Choice and the call was answered very quickly. The call was answered in less than 5-10 minutes.
The FX Choice phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual FX Choice team by calling in varying languages. FX Choice made an effort to make sure our queries were answered.
Overall the phone support from FX Choice was okay.