Read our detailed FXChoice review and find out who is this offshore broker. How is it surviving in the business for so long? Is FXChoice regulated for real, or it’s just a formality? Read our review and find out.
Let’s look at the new information that has emerged since we last reviewed FXChoice. As you may remember, the brokerage was brought into connection with Mirror Trading International, a.k.a. MTI.
It was one of the largest crypto scams, resulting in several different investigations by authorities. The US CFTC has filed a civil enforcement action in Texas, charging MTI and its owner, Cornelius Johannes Steynberg, with fraud and registration violations.
When it comes to the security of your funds and your data, the Terms & Conditions broker states that it cannot guarantee data safety. As written in T&C, email security is not guaranteed, and by sending sensitive information via email, you are accepting this risk. Therefore, if you want to provide documents to their support via email, they cannot guarantee the safety of your ID, passport, address, nor banking details.
Very convincing start for FXChoice broker.
You will agree when we say – FXChoice scam!
The clients can choose between MT4 and MT5 FXChoice trading platforms.
When it comes to MT4, clients can trade with currency pairs and CFDs. Also, they have an Auto trader available. The platform is multi-lingual, available in English, German, Czech, Greek, Spanish, Portuguese, Thai, and Farsi. On the platform itself, clients have available chart analysis tools, instant, and future trade execution. The platform is available for Windows, Mac, iOS, and Android.
On the MT5 is available stop limit order feature, support of both traditional netting and hedging options, and more indicators.
According to broker Terms & Conditions, the broker is operating in every country where its operations are not against the local law. Since we were not sure what this exactly means, we checked some of the FXChoice reviews by clients.
Seems that the main target of FXChoice broker is the UK, Scandinavia, Malaysia, and as mentioned above, South Africa.
The broker offers various ranges of assets – currency pairs, stocks, commodities, indices, and crypto.
The broker allows hedging and scalping. The support is available 24/5. Spreads are going from 0.0 pips, and the maximum leverage is 1:200 since it’s an offshore broker.
The FXChoice minimum deposit for all the account types is 100$. However, the difference is in the spread that on Classic accounts starts from 0.5 pips with the commission of 2$ per side, per 100,000$. On the Pro, accounts spread starts from 0.0 pips, but the commission goes from 3,5$ per side, per 100,000$.
Both of the account types are available on both platforms.
The deposit and withdrawal can be made via debit/credit cards, E-wallets, and wire transfer. The withdrawal methods vary depending on the country. When it comes to commission for deposit/withdrawal, the broker does not give any information.
FXChoice is an offshore trading company registered in Belize.
The broker has regulation by an offshore regulatory body, IFSC.
The minimum deposit with this broker is 100$ and can be made via debit/credit card, wire transfer and E-wallet.
FXChoice was involved in an $1 million worth scam. We would not recommend this broker as a safe option.
FXChoice is an offshore trading company registered in Belize.
The broker has regulation by an offshore regulatory body, IFSC.
The minimum deposit with this broker is 100$ and can be made via debit/credit card, wire transfer and E-wallet.
FXChoice was involved in an $1 million worth scam. We would not recommend this broker as a safe option.
The post Detailed FXChoice Review – Scam or Legit Forex Broker? appeared first on Global Fraud Protection.
