Established in 2010, FX Choice Limited (MyChoiceFX) is a broker operating exclusively in the MetaTrader system. It is subject to the regulations of the International Financial Services Commission (IFSC) in Belize. It offers popular platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) developed by MetaQuotes Software Corporation.
MyChoiceFX offers 50 instruments, including 38 currency pairs and CFDs for seven indices, two energy contracts, two metals, and bitcoins.
MyChoiceFX offers Classic and Pro account types, where commissions and fees vary depending on each. In the Classic broker account, there is a spread of USD 14 per pair EUR / USD or 1.4 pips, while the Pro account is based on commission with a commission of USD 88.08 or 0.8 pips added to spreads of 0.7 pips, bringing in costs to a level similar to the Classic account level. It is worth noting that the ranges in the following fragment of the broker's page are minimum spreads, not average or typical spreads.
MyChoiceFX is a broker based exclusively on MetaTrader. It's offer comes from a set of platforms developed by MetaQuotes Software Corporation, including from the MetaTrader 4 platform (MT4).
MT4 is a standard, with a small variety of features ranging from broker to broker. However, there can be vital differences in the way the platform is designed. This platform is mainly to trade spreads and commissions, execution and other tools, functions and administrative areas.
MyChoiceFX offers mobile applications for iOS and Android platforms on MetaTrader platforms. Their service is available directly from developers in the iTunes Store and Google Play.
FX Choice Limitation:
Traders often look for a broker from MetaTrader, which offers both MT4 and MT5. MyChoiceFX has a limited range of wholesale markets. It has only 50 available instruments and several research tools.
Besides, the broker has no legal status in the first jurisdiction, although it is ahead of other brokers who do not have authority at all because MyChoiceFX is regulated in Belize. Obtaining another license in a significant financial center would significantly increase the broker's confidence indicator and add more research content, such as daily market analysis.