Flexioptions.com Review Flexioptions Broker Will Cause You Heartbreak

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Checking your browser before accessing brokersrecomendados.com.

This process is automatic. Your browser will redirect to your requested content shortly.

Flexioptions.com Review: Flexioptions Broker Will Cause You Heartbreak

Forex or Foreign Exchange is the decentralized global currency market, which is now one of the most liquid industries in the world. Though currency trading an ancient form of business, the online FX industry is comparatively young and it touched 1 trillion USD milestone only 20 years ago in 1995. But since then, FX market has been getting the expeditious expansion and today the size of the FX market is more than 5 Trillion USD per day which is equal to more or less 30 days of trading in New York stock exchange.

About Best Forex Broker Reviews

However, as we already told Forex is a decentralized platform, so trading doesn’t take place under any centralized authority. Rather, you need to register yourself with a forex broker as your trading media. Although you’ll find lots of FX brokers & their reviews online, focusing only on the market of London, New York, Sydney, Tokyo, Frankfurt is pretty enough to start and run your FX career.

How to Choose the Best Forex Broker

Since Forex is a virtual industry, you have no easy options to check the physical existence of the brokers. Furthermore, millions of brokers are available in the market and tons of brokers are entering the market every year. In most of the cases, it makes the selection of the brokers tougher for the newbies. That’s why choosing a broker for trading is the primary challenge for a retail trader.

But you shouldn’t be worried about it because if you’ve proper knowledge on the selection criteria of the forex brokers, no one or nothing can stop your success as a Forex trader. And according to our research, we’ll suggest you check the following features in a broker:

With which regulatory bodies the broker is connected.

Feature 1: Regulations

At the beginning of online FX trading, many scammers used to fake their skills & experiences to deceive thousands of traders. Even in many cases, these scammers didn’t have real broker amenities. They just used to made a good website & wrote a few nice words on the site to convince the retailers. Frequently, the presence of these scammers started increasing online and their wicked acts were exploding beyond expectation.
As a result, the Forex industry was being questioned again and again by the traders & forming regulatory bodies became inevitable.
Finally, to stop this anarchy & make a safe passage for the traders, different regulatory bodies started operating all around the world. These regulatory bodies define a set of rules that can be followed only by a quality forex broker. These rules include the capital of the broker, locations, policies, etc.
Only those brokers can be a member of those regulatory bodies, who meet these criteria. And that’s how the scammers are filtered out from the industry nowadays. So, before choosing your broker you must need to check with which regulatory bodies they are connected to.

The well-known regulatory bodies are:

  • US Security & Exchange Commission (USA)
  • Financial Industry Regulatory Authority (USA)
  • Financial Services Agency (Japan)
  • Swiss Financial Market Supervisory Authority (Switzerland)
  • Australian Securities and Investments Commission (Australia)
  • Cyprus Securities and Exchange Commission (Cyprus)
  • Federal Financial Supervisory Authority (Germany)

Where the broker HQ is located.

Feature 2: HQ Location

You can find brokers worldwide & everyone will give you the amenity of trading online. But still, look for the location of their headquarters because it means a lot to FX industry.
For example, most of the top-rated regulatory bodies are located in the UK or USA. And that’s why most UK or USA brokers can connect them to those top rate regulations. On the contrary, India or middle east based regulatory bodies are weaker than other regulatory bodies which result in weaker regulations to the broker licensed in India.
Additionally, USA or UK brokers also open their branch in those countries. Therefore, if you check the HQ location first, then maybe you can get those strongly regulated brokers near to your house. Nonetheless, to open a trading account with USA brokers you need to share all your TAX info. So if you have a problem to share those documents, then you can go to the UK or Australia based broker.

Which Trading Platforms they are providing for the retail traders.

Feature 3: Trading Platform & Software

Trading platform & software are the main keys to you & FX market. That’s why you need to check which trading platform or platforms are being offered by the broker. Some broker offers their own trading software where some of them offer third-party platforms. And each and every broker will offer you a demo account with some demo balance so that you can practice on their platform before starting real trading.
In that case, we recommend you to choose a broker who provides Meta Trader 4 platform because, more than 80% good brokers provide this platform for its wide range of technical indicators like one-click trading on the platform, reducing risks by stopping loss orders or trailing stops, detailed charting package, etc. This platform is also known as MT4. So, if you see the term MT-4 anywhere, then don’t get confused. MT4 & Meta Trader 4 are the same platform.
The other well-known platforms are C Traders, Robinhood, Think or Swim, PTMC, Pro Real-Time, Pro Trader, Trading View, Interactive Broker, etc.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

What Ratio of leverages, they are offering to the traders.

Feature 4: Leverage

According to statistics, 95% of the forex traders lose their capital within the first 6-8 months. The main reason for this is the expectation of making a large & quick profit. But the truth is the more you can wait, the more you can earn. And another truth is the less you’ll invest, the chance of losing more money will also be decreased. But if you invest less & wait for a long time, it means you have to wait year after year for making a big profit.

“So, is there any way to earn maximum money with a small amount of investment?”

And here the term ‘Leverage’ comes where you can trade up to 400 times than your investment. Leverage is basically a loan given to the retail trader by the brokers. The common leverage ratios are 50:1, 100:1, 200:1 etc. In 50:1 leverage ratio, you can trade up to 50 times of your investment, in 100:1 leverage you can trade up to 100 times & so on.
To trade $1,00,000 or currency with a 50:1 leverage you need to deposit minimum $1,00,000/50 = $2000. This minimum amount that you need to deposit in cash is called the margin which we’ll discuss later in this article.

But you must remember the fact that brokers will give you the loan, but they will not take any risks. It means if your trade moves to the opposite side, then after a certain percentage reduction of your real investment broker will notify you to deposit more or they can also make a margin call which means terminating the trade.
Usually, this margin call occurs when a trader’s investment reduced to 30%. For instance, suppose your margin investment is $1000 & leverage ratio is 100:1. It means you can trade up to $1,00,000. Now if your trade value reduced to $99,930 the broker can shut down the trade to stop his loss.

How much initial deposit you need to make for starting FX Trading.

Diversity and inclusion of withdrawal methods.

Feature 5: Deposit & Withdrawal method

You can deposit & withdraw your money from your debit/credit card, PayPal or any other different payment methods. Additionally, some brokers offer their own branded payment method too. Nevertheless, please check the available deposit & withdrawal method before opening your account.
Because maybe your chosen broker doesn’t offer the payment method which we used for your daily life. Although you can open a wallet under any payment processors especially for FX trading, it’s better using the payment method you already have. It’ll save your expenses & give you better reflex of calculation.

How much Spread, Commissions & Fees they are taking from retail traders.

Feature 7: Spreads, Commissions, and Fees

Now, maybe you are thinking about how a broker earns?
Here is your answer. The two way of their earning is spread & commissions or fees. Let us explain them.

Spreads are again of two types:

However, in terms of everything, we’ll recommend you to choose a broker who offers fixed spread because it will help you to make a straight calculation. But, the floating spread is also recommended for the traders who look for smaller spreads.

  • Commissions & Fees: This charge is calculated as a percentage of the spread. You need to know the payable commissions or fees carefully before choosing your broker.

Your information security, availability of resources for better trading.

Feature 6: Data Security

To open a Forex account, you need to share all your personal & financial information like your name, birthday, credit card number, etc. Anyone with this information can hack your financial accounts and make you completely destitute.
In a similar manner, there are lots of scammer brokers online who took the information of the traders illegally and sell them to the black market. Even sometimes good brokers also fall into security loophole by the scammers and lose their customer data.
Therefore, before signing up to a broker, research their past history & technical specification carefully. And during filling any kinds of web forms, check SSL encryption sign to ensure your data safety on the server.

Available account types to launch your initial trading.

Feature 8: Account Types

In terms of your capability and initial capital, you can choose one of the following account types for your FX trading.

  • Micro Account: If you have low initial investment, then you can go for a micro account. Here a single trading lot is equivalent to 1000 units of instrument traded.
  • Mini Account: If you have investment more than to open a micro account but less than standard account then probably you are eligible for opening a mini account for trading. Here a single trading lot is considered as 10,000 units. The pros and cons are almost the same as a micro account.
  • Standard Account: In these types of accounts, 1 trading lot is equivalent to 1,00,000 units of instruments traded. But to open standard accounts, you need higher capital than mico & mini accounts. But if you want to play a big game in the FX industry or you are a professional, then the standard account should be the first choice of yours.

Minimum Margin Requirement to start a trader account.

Feature 9: Margin Requirements

We already discussed a little about margin in our Leverage section. And you already know how you can amplify your trading ability by taking leverages. And the percentage of real currency that you need to deposit is the margin requirement.
Suppose, your broker is offering 50:1 leverages to you. It means your minimum margin requirement is 1/50 = 2%. For instance, in a 50:1 leverage ratio, you need to have a minimum of $1,000 in real cash in your margin account to trade up to $50,000. For larger trade, you need to deposit more to maintain 50:1 leverage.
Since this margin requirement increases your potential profit, so whether you fully use it or not, choose a broker with a lower margin requirement.

What helpful guideline or resources they are sharing with the traders.

Feature 10: Information Resources

A good source of references and materials can be a lighthouse of your FX trading. And if broker itself provides these resources how awesome it will be, isn’t it?
Yah, to help one’s journey to forex trading, most of the good brokers provide these basic resources:

  • Learning Material: For beginners, most of the good brokers provides learning books & videos, practice materials, lectures, etc. Additionally, they also arrange webinar, online courses, etc. regularly.
  • Demo Account: Theoretical learning is not enough to start your trading. That’s why good brokers also allow traders to open a demo account with demo currency. And using that accounts you can enter the real market, although your buy/sell will not be counted really. But you can see the output of your strategies directly from that account. So, if you are a beginner, then leave the broker doesn’t offer a demo account.
  • Latest News & Statistics: Passing the beginner level doesn’t mean you’ve learned everything. Rather it means you are just ready to trade. And to be a successful trader, you need to keep yourself updated till your last breathe. And good brokers will take this responsibility & keep yourself updated by giving latest news & statistics of the FX market by their website or newsletter.

How active their support team is.

Feature 11: Support

Whether a trader is a beginner or expert, he/she always needs relevant supports from his/her broker. At the beginning stage, sometimes traders don’t even know how to buy or sell. In these cases, a strong support team can always guide you by giving relevant tools, references constantly until you can do trade on your own.
And after gaining some skills on the market, you need to maintain 24/7 keep in touch with your broker. So if they don’t have a strong & live support team, you may miss valuable trades. That’s why check a broker’s quality of support before relying on them.

What type of broker they are.

Feature 12: Broker’s Type

In your journey to FX trading, you need to go through different types of brokers. These brokers are known by some common terms like NDD, STP, ECN, etc. You’ll also hear other terms like ‘market maker.’ But don’t worry about it because to give you a clear perception of these terms we are going to discuss them below:
Usually, the brokers are divided into two major types:

  • Dealing Desk Broker: In these types of brokers, market makers process the trading instructions of their clients through a dealing desk located inside the broker. It means when you launch your trade, the broker will collect all the rates & data from the market makers through their inside desk & return to you.
  • Non-Dealing Desk Broker: In this case of FX trading, some brokers process trader’s instruction by third parties. This way saves their time and hassles of processing client’s instruction inside the company.

These Non-Dealing Desk or NDD brokers are again divided into two parts:

  • Electronic Communication Network (ECN): These brokers use a computer-based trading system where client’s Buy/Sell is processed in the broker’s computer system immediately through the ECN network. ECN network adds all the information to the client’s order from the market makers, execute the order & then return it to the broker as well as to the clients. The whole process is automatic & no dealing desk is necessary.
  • Straight Through Processing (STP) Broker: These brokers forward client’s order straight to a third party. These agencies execute client’s order by the forex dealer’s dealing desk & then return it to the broker again.

But we’ll recommend you to choose NDD broker to avoid possible manipulation by scammers.

How much or how often they announce bonuses for the traders.

Forex Bonus and Promotion

Feature 13: Forex Bonus and Promotion

To motivate the retail traders & attract potential clients, brokers often announce bonuses. We are going to discuss some of these bonus types those you’ll see quite often from your beginning stage to the ultimate level. The name of these bonuses may be different for different brokers.

  • Welcome Bonus: For attracting new traders, some brokers announce this bonus. In this bonus, you’ll get an initial trading credit without depositing any money. Although there is a big probability of manipulation, some brokers proceed to this policy.
  • Deposit Bonus: In this case, a trader’s initial deposit becomes double or something like that. It means if you deposit 100$, you’ll make a trade of 200$. And you need not have any leverages, or you need not maintain any margin requirement. You can trade with this whole money without any limitation. But you can’t redeem this bonus money.
  • Bonus on Spread: In this case, the broker gives a discount on the spread. For example, for a USD-CAD trade suppose the asking price & bid price is 1.2345 & 1.2340. It means the spread is 0.0004 or 4 pips. Sometimes brokers reduce this asking price to one or more pips from the regular price as a bonus.
  • Festival Bonus: During different festivals like Christmas, Black Friday, Thanks, Giving Day or any other national festival brokers usually announce different bonus scheme on trading.

Besides these bonuses, brokers often announce bonuses to retail traders in terms of their loyalty. Additionally, they arrange some promotional contests and the winners get an exclusive bonus for retail trading.

What is Pip & How it is calculated?

Broker Vs. Market Maker Vs. ECN

After reading these broker types, you might be confused among the terms like brokers, market makers & ECN. Here are there differences between them:

  • Brokers host the whole trading process. They forward customer’s instruction to market makers; after the execution, they collect the data & update the profile of the retail traders. For each trade, brokers charge a small commission as their fee.
  • Market Makers or Forex Dealers are the experts in making the trading rates. Usually, they execute the trader’s instruction on behalf of brokers. In the case of FX market banks, hedge funds, or some third-party agencies play the role of market makers.
  • ECN doesn’t execute any trade. Rather they make a bridge among the market makers where the market makers transmit the valid price for a certain volume to ECN, STP, or other third party liquidity service provider. Then, ECN spread that price to its whole network & retail traders can see the rate.

Why are Market Makers Necessary for FX?

Conclusion

According to the opinion of many people, forex is a boring and highly risky trading industry. But different research & statistics show that in most cases, failure of choosing the right broker results in all these boredoms & risks. Otherwise, FX trading is the most captivating virtual industry for the business-minded people around the world.

For that reason, we tried our best to enlighten you with these broker selection features above so that your journey to FX trading becomes more fascinating. So, try to check these factors when reading forex broker reviews and ensure a safe & sound forex trading. Godspeed.

MyFXChoice.com Review Visit site

Other websites of this company include FXChoice.com

About MyFXChoice.com

MyFXChoice is a forex broker. My FX Choice offers the MT4, MT5 and MT Mobile trading currency platforms. MyFXChoice.com offers over 35 currency pairs, cfds, commodities, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

  • Information
  • Live Discussion
  • Profile
  • Video
  • 13 Widgets
  • More .

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2020
Address: Corner Hutson & Eyre Street, Blake Building, Suite 302,Belize City, Belize
Contact: [email protected], 52 558 526 80 32
Regional offices:
Regulators: IFSC #IFSC/60/191/TS/19
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, MT5
Web Trading:
Mobile Trading:
ECN:
Currencies: (35+)
Cryptocurrencies: (2) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Yes

Yes

Yes

EAs/Robots:
Scalping:
MAM:
Deposit Methods: VISA, MasterCard, AstroPay, Bitcoin, ePayments, Ether/Ethereum, FasaPay, Neteller, PaySafe Card, PerfectMoney, Poli, Qiwi, Rapid Pay, Skrill, UnionPay
Withdrawal Methods: Bitcoin, Ether/Ethereum, FasaPay, Neteller, PerfectMoney, Skrill

Live discussion

Join live discussion of MyFXChoice.com on our forum

MyFXChoice.com profile provided by George, Jul 13, 2020

FXChoice is a global broker specialising in CFDs and Forex for private and institutional clients, not to mention fund managers. The company offers the tried-and-tested platforms of MT4 and MT5, with trading on the go also available via mobile apps. FXChoice prides itself on its customer service, aiming to be the industry’s best.

Video

Your company video here? Contact ad sales

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: 6-12 Months

I’ve been trading with fx choice now going on 6 months now. AT first when I started, I thought they were legit. Mind you, I was trading with an america trading broker here in the U.S. That broker is a market maker and they even admit that they are. What’s bad is that three day rule. You can be right in your trading, but if the market doest move in your directions and you hit margin call, that broker will close all your trades at the thrid day that you hit margin which is anything under 100%

Now, when I heard about fx choice, I was excited. A broker that accepts U.S. citize and you can use leverage. There was no three day rule like the other broker So, I was happy at first. But over the past few months, they have shown there true color. What do I mean. Okay. At 4pm cst, that is when the market close so the spread tends to be a little bit higher than normal. So for example, if I am trading Eur/usd for example, the spread may jump up from 2 pips to 6-7 on the eur/usd. I had placed a trade on the Eur/Cad. The spread on the eurcad is around 5pipps. AT 4 pm today, guess what, the spread jumped from 5 pips to 70 pips. That is right. That is not a typo. 70 pips. Now, imagine if I didnt use good money management in place, I would have been wiped out.

I know many of us are looking to make money. You may win a trade here and there with fx choice, but long term winning, it’s not happening. And don’t be deceive. They are a market maker. They do not have your best interest at heart. When you place a trade, there is that 1-2 second freeze when you push the buy or sell button before they execute the trade.

Forex is hard as it is. You are competing agisnt the best. But when you also have to worry whether or not your broker is going to try to steal your money by increasing the spread so high like 70 pips on eur/cad for example, it’s just not wirth it in my opinion.

Thanks for taking the time to write a review. We deeply regret to see that your previously favourable opinion of our company has changed so dramatically.

Firstly, we categorically deny that we’re a market maker, as you claim. We are an STP broker: We pass on to our clients the exact same prices that we receive from our LPs, so we cannot control the spreads.

We haven’t been able to find a trade dispute on EURCAD in our records, so if you want to investigate this or any other orders, please don’t hesitate to contact our customer service.

It is so unfortunate that volatile market conditions caused by COVID-19 are creating such frustration among our clients and the clients of other brokers. However, this situation is beyond our control and happening everywhere. It is an inescapable storm and one we are doing our best to weather.

Best wishes,
FXChoice

Service use: Live

Length of use: over 1 Year

Thank you for taking the time to write this review. Although we regret to read that you are not satisfied with the recent high volatility in the market, we’d like to clarify the following:

“They informed me they were an A type broker and the trades get executed as soon as they are placed. That is not true!”

We are an STP broker; we process all our clients’ orders through our liquidity providers to the market. All trades are executed as soon as they are placed (given that there is a price in the market).

We’ve recently informed our clients about the high volatility and extreme spreads in the market at the moment. If we don’t receive any prices from our liquidity providers for a short period, we can’t process the orders to the market.

“especially now in a high volatility market some of their instruments are off quotes and spreads are so high it doesn’t even look right. “

The client is contradicting himself: Especially in a high-volatile market as at the moment, spreads tend to widen and there may be a lack of prices for a short period, particularly on less-liquid trading symbols.

“They said they have no control over, but yet it appears that they do control the spreads.”

We confirm that we don’t have any control over the spreads. We simply pass on the exact same spreads that we get from our LPs (including a small mark-up) to our clients. Our commission, or the spread mark-up, doesn’t change depending on the volatility.

Service use: Live

Length of use: over 1 Year

Prior experience with this broker was fine but suddenly trading gold was beset by freezes where the gold price on the platform doesn’t match the actual spot price and now suddenly the spread has gone from a standard and manageable # of pips (50-70) to as high as 3500 pips essentially making gold untradeable on their platform. I am now afraid as to what may happen to other pairs because if they can widen spreads that much without notice it’ll certainly stop out positions easily. Looking for another broker as this is a bit too shady. The same spread issue has happened on nok pairs as well, but with gold it’s far more terrifying.

Dec 1, 2020 – 4 Stars Love them. They have gained my trust in an industry where you really have to be wary of scammers. Only drawback is that they recently stopped accepting bankwires for anything under $1,000, which unfortunately leaves US customers vulnerable to the scammer that is UPayCard. If they had an alternative safer option for US customers in this regard they’d be perfect (as they were for a time). But due to this I must give them 4 as opposed to 5 stars.

Reply by George submitted Dec 4, 2020 Dear PipsLoveMe,

Thank you for sharing your love for us. Trust has made us what we are today, and we thank you for acknowledging this.

Alas, you are indeed right about the recent changes concerning bank wire payments. This alteration is due to the recent banking system changes. As for your comment about UPayCard, please could you contact us about why you have referred to them as a scammer? Maybe we can assist you in resolving any issues you may have experienced with them.

Finally, we would like to inform you that there are other options for our US clients, such as Cryptos. We will also be introducing other payment methods shortly.

Thank you once again for your very good rating and sorry for any inconvenience caused by the recent changes.

We’re so sorry to see that you’ve altered your previous review about us, especially as the spreads on Gold are entirely beyond our control.

We are living through volatile times. Our liquidity providers (LPs) have contacted us specifically about COVID-19 and its effect on Gold spreads. Gold refineries around the world are shutting down to stem the spread of the virus, which is drastically reducing liquidity, widening spreads to previously unimaginable levels.

One of our LPs wrote to us warning that the ‘prices shown on the platform might experience interruptions due to wide spreads and in those instances slippages are highly likely to occur’. Another LP wrote that ‘Currently there is a very limited pricing for Gold in the market due to COVID-19 causing multiple gold refineries to close, which in turn has caused a shortage of physical gold in the markets’.

We are trying the best we can to keep instruments available for our clients. If you’d contacted us first, we could have explained this to you before you posted a negative review.

We are an STP broker, so we simply pass on our LPs prices to our clients. We hope that you’ll reconsider your review as you’re essentially blaming us for low Gold liquidity caused by COVID-19 – it is beyond our control.

Best wishes,
FXChoice

Service use: Live

Length of use: over 1 Year

I put my deposits into this Broker based on 2 weeks of research and reading reviews of Fxpeacearmy. So my bias was that of nothing but FXchoice being the only non-regulated offshore broker with integrity.

Until. I Placed a short on EURCHF 3.12.2020 At 18:50. later that same day price hit level 1.05451 at 23:25 which was well below my take profit at 1.05464. Unless, the spread exceded 13 pips on the EURCHF my TP take profit should have excuted at the ask price.
FXChoice did not execute the TP Yes the TP has to hit the ASK price, again unless the spread on a non volatile pair EURCHF exceeds 13 pips. This should have been a profitable take profit . I chatted with them, here is excerpt: The open trade on 152656 eurchf:

Adalisa: 23:54:10 Please not:e that due to low liquidity and market volatility many pairs, indices, cryptos and commodities are not been quoted at this moment.

Adalisa EURCHF is one of the pairs not being quoted due to low liquidity
At this moment no stop loss or take profit can be triggered

Ryan 23:55:02 So my take profit which was hit , did not execute

Adalisa They will be triggered once they come back and they will be executed at the next best available price.

I followed up with them with email and screenshots with candles showing price at 1.05451 and they sent an email with these attachments: eurchf 22162679.rar
journal report 152656.log which when opened says “access denied”. Next followup they just keep repeating the same thing over and over again, that the case is closed.

But never I have had access to their proof that they are faultless , despite my calm efforts. FXChoice if you are righteous please fix this for me , or show me visible evidence (unless your have something to hide?) that you are not obligated to fortify your argument with trading server logs which absolve you of any guilt or responsibility to make this right.

We’ve had something of a roller-coaster experience with you. Let us explain our perspective to others.

After a lengthy phone conversation with one of our customer service supervisors, we thought we had come to an understanding, as we provided you with the raw data as proof showing that your TP had not been reached and that is why your order had not closed. You initially appreciated our time and effort and mentioned that you were going to update your rating and review.

We should admit that we’re sorry to learn that a few days later, you’ve made an about-turn on updating the review, as now you believe the data we sent has been altered and that you have no recollection of changing your TP, as we have on record. It’s such a shame that you’ve taken this path and refused to believe our data.

That said, we’ll be happy to have you back among our clients in the future. However, whether you decided to continue trading with us or another broker, we would recommend that you install a spread monitor indicator on your MetaTrader to save both the Bid and Ask prices so that you have the data in your own computer. It may help to avoid such misunderstandings in the future.

We provided you with the exact prices received from our LPs. If you don’t believe the price history and logs from our trading server, there is not much more evidence we can show you.

Good luck and best wishes,
FXChoice

Service use: Live

Length of use: 0-3 Months

Thanks for your review, but we regret to see you had a bad experience, especially as we feel this was nothing to do with us.

We found you in our system and have reviewed your case. You contacted our customer service regarding the trade in question (ticket #15442136). We answered to your trade dispute, explaining that your order was stopped out because your account ran out of free margin. We explained the comment shown next to the order in question in your MT4 ‘Account History’, and what each number represented. In other words, your SL was indeed not reached, but that’s because you didn’t have enough margin. You ran out of equity, so the trade would never have reached your SL, unless you deposited more funds to cover your strategy.

We believe that the answer we provided was comprehensive, and we did finish the answer by asking you to get back to us if you have any further questions. We wish you had replied to us if you needed any further clarification.

We hope other clients will see our response and understand that this was nothing to do with us.

Service use: Live

Length of use: over 1 Year

This is at least by 50% a perfectmoney.com review.

I have always been completely satisfied with FXChoice (even wrote a positive review some years ago) and I’m unhappy about the changed withdrawal / funding methods. I didn’t actively trade for some years as I went to developing automated trading systems. I still have a few thousands in my account that I planned to trade with later on, but as the development process is taking much longer than I anticipated and will probably take another year, I wanted to invest this money in the stock market now.

When I logged in, trying to withdraw, I was astonished to see the bank transfer method gone. I had to write a message to customer support, to get a withdrawal option other than cryptocurrencies. Only customers who funded their account by wire transfer get this option, but only when they are asking. Given the volatility, cryptos aren’t an option for me. When I’m withdrawing, I don’t want this process to be a trade by itself!

So the only way to transfer fiat money is perfectmoney.com
Their website looks a bit shady, so I wanted to make a test transfer and sent 100 EUR to my account. I received 99.50 EUR at perfectmoney. When I tried to transfer this to my bank account, perfectmoney said it was below 100 EUR and could therefore not be transferred.

I found out why: In Germany, the decimal separator is a colon, not a dot. (I typed 99,50 instead of 99.50). However, together with translation errors in the backend, this contributes to the shady impression of perfectmoney.

I sent more money to my perfectmoney account until I understood this problem. So at the moment I have a little over 500 EUR there and I’m finally able to see the fees involved.

Perfectmoney offers 4 different money exchange services, with different fees. In can pick the 2 best for me. If the first rejects the transfer, the second is chosen. Interesting, that there is a chance that the provider can reject the transfer – contributes to the shady impression. Long story short: Depending on the provider I will end up with, it could be between 260 and 420 EUR fees which is 5.9% to 9.5%. This is robbery! I’m really disappointed that this is the best FXChoice can offer for fiat money transfer.

I’m really sad to witness this change to the worse, as FXChoice had everything I wanted, even managed accounts (my goal is to become an account manager myself).

Thanks for your feedback. We’re sorry to see that you had a negative experience with Perfect Money.

Please note that Perfect Money was not the only option you could have chosen as you indicate in your review. If we have identified you correctly in our system, we recommended two other available methods to you in a ticket you opened with our customer service.

We feel the 2* review on our page is harsh considering it is covering a third-party payment provider.

Service use: Live

Length of use: over 1 Year

Fx Choice is the most trustworthy offshore broker for all traders they pay withdrawals on time and never no funny business with my trading , keep up the good work Fx Choice

Jun 24, 2020 – 5 Stars keep up the good work you guys are the best out there, great service and always pay withdrawals

Mar 8, 2020 – 5 Stars great broker i been a supporter of fxchoice for many years i wish they would lower their Margin call/ Margin stop: 100/80 on their pro account to maybe Margin call/ Margin stop: 70/50 or lower.

Jan 15, 2020 – 5 Stars so i decided to stay with FXCHOICE, there are brokers with better spreads but i can’t trust them, fxchoice always pay withdrawals and do so very fast . a broker that pays withdrawal small and large outweigh better spread brokers any day.

Dec 14, 2020 – 4 Stars fxchoice is a great broker but i must move on, i trade the classic account because of the lower margin call / stop out levels, i must move on because the cost of doing business is just to expensive with the higher spreads and the swap rates are killing my profits.

Jul 4, 2020 – 5 Stars Best Damn Broker For U.S. Traders.
customer service is the best, deposit and withdrawal top notch and very trustworthy. for U.S. traders this is the broker you want and need.

Jun 14, 2020 – 5 Stars im very concern that FXCHOICE has been throttling connections of traders, they are a good broker but they might be doing something to cover there butts . there update on myfxbook and other has been very slow

Mar 25, 2020 – 3 Stars Epayment no longer except US Citizens. and you can’t convert your bitcoin to fiat currency so where back to depositing by wire transfer with fxchoice. i hope they find better payment options, not everyone has 2K to wire just to get the fee back.

Nov 25, 2020 – 4 Stars need to add paypal as deposit, i like bitcoin but at the moment can’t convert bitcoin to my USD account, also would be nice if they can add credit card deposit , other then that the best broker for U.S. traders

Oct 5, 2020 – 5 Stars they made my dream come true, you no longer have to have a bitcoin trading account to withdraw with bitcoin. thank you fxchoice

May 17, 2020 – No Rating question for fxchoice, on your website it say you take bitcoin for deposit but it don’t say if you allow withdrawal with bitcoin

Mar 11, 2020 – 4 Stars will give 5 stars if they had credit card deposit, other then that they are a good broker, they had credit card deposit just last month don’t know what happen to it

Reply by George submitted May 19, 2020 Hello Poundtrader,

Thank you for your message. Bitcoin is included as an option for depositing and withdrawing. Please visit our “Deposits and Withdrawals” page to see all of our payment methods. You can find this page under the “Accounts” tab from the main menu. You can click on each one of the payment options to read details such as process, instructions and other information.

Should you have any further questions or need assistance, please do not hesitate to contact us.

Reply by George submitted Dec 11, 2020 Dear Poundtrader,

Thank you again for another valuable review. As we have explained in similar comments by other users, Bitcoin deposits to a fiat-denominated account (such as USD and EUR) are currently suspended until further notice.

Please note that for our US clients we reimburse any wire transfer fees for deposits of $1000 and over.

The FXChoice Team

Reply by George submitted May 15, 2020 Dear Poundtrader,

Thank you for your message.

We are sorry that a third-party company has affected your experience trading with us. Please note that our clients can deposit and withdraw Bitcoin and Bitcoin Cash to/from the corresponding accounts. If you want to make a smaller deposit, we would recommend that you open a Bitcoin-denominated (or Bitcoin Cash-denominated) account and fund it with Bitcoin (Bitcoin Cash).

As per your concern about the wire transfer amount, US clients can deposit only $1,000 to qualify for bank fee reimbursal.

We are working on adding new payment methods for our US customers and will keep clients informed of any progress.

Meanwhile, should you have any questions, our support team will be glad to assist you. Please accept our sincere apologies for the delay in response regarding the technical issues with the website’s (FPA) reviewing system.

The FXChoice Team

Reply by George submitted Jun 19, 2020 Hello Poundtrader,

Thank you for your review and close attention to our services. We would do our best to help you solve your connection issue if you could share more details of your particular case with our support team. Nonetheless, we can assure you that our server connection is stable and the issue should be not from our end.

As per your concern about Myfxbook updates, we cannot be held responsible for third-party service quality. We recommend you address your request directly to the system in question.

Our support team is always there to assist you.

The FXChoice Team

Reply by George submitted Dec 20, 2020 Dear Poundtrader,

Thank you once again for sharing your feedback here.

We are sad to hear that you are having to move on due to spreads and swap rates. We believe that we offer some of the most competitive trading conditions as an STP broker. We would like to point out that our Pro account spreads are very competitive and that you can even gain by reducing commission using our loyalty programme ‘Pips Plus’. For more information about our loyalty programme, please visit our Pips Plus page which you will find under the Trading Services section from the menu.

Additionally, if you contact our customer service, we will be more than happy to look into your account and discuss your trading strategy, so that we can recommend the best trading account to suit your requirements.

Reply by George submitted Jan 29, 2020 Dear Poundtrader,

We are delighted to hear that you have decided to stick with us. We appreciate your loyalty and thank you very much for trusting us. We do our very best to ensure the smoothest and fastest possible transactions in order to enhance our client’s trading experience.

Checking your browser before accessing scamadviser.com.

This process is automatic. Your browser will redirect to your requested content shortly.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Brokers, Signals and Strategies
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: