Are you trying to figure out which is a better broker, FXCM or FXChoice? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that FXCM is the better of the two. FXCM offers 60+ instruments, licenses from FCA, CySec, FSCA, ASIC, and fair trading fees.
In the tables below, you can compare the features of FXCM and FXChoice side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked FXCM higher than FXChoice.
| Methodology: This tool uses data collected by our honest Forex experts. All information shown here is correct, regardless of any compensation we receive. |  |  |
| OPEN ACCOUNT | Review | Review |
| RATING | 96.5/100 | 93.8/100 |
| MIN. DEPOSIT | 50 (depending on the payment method)$ | 100$ |
| REGULATED BY |     |  |
| BONUS | No Information | 15% |
| MIN. SPREAD | 1.3 | 1.4 |
| MAX. LEVERAGE | 1:400 (1:30 for AU, EU and UK clients) | 1:200 |
| CURRENCY PAIRS | 39 | 36 |
| TRADING INSTRUMENTS | 60+ | 50+ |
| TRADING PLATFORMS | MT4, Mobile, Private | MT4, MT5, Mobile |
| DEPOSIT METHODS | Bank transfer, Visa, Mastercard, Skrill, Netseller | Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, PaySafe, ePay, E-Wallet and more |
| TYPE OF BROKERS | Enhanced Execution | Market Maker/NDD |
| CUSTOMER SUPPORT | 24/7 | 24/5 |
| LANGUAGE SUPPORT | 8 | 8 |
| ESTABLISHED | 1999 | 2010 |
| USED BY | 100,000+ Traders | 100,000+ Traders |
Does FXCM or FXChoice have lower trading costs and fees?
To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.
To give an overall view of how cheap or expensive FXCM and FXChoice are, we first considered the common fees on Standard Accounts. At FXCM the average spread for the EUR/USD currency pair is 1.3 pips, whilst at FXChoice the spread is 1.4.
This shows that FXCM is the better option for low-cost forex trading.
When it comes to non-trading fees, FXCM charges for inactivity, withdrawal. FXChoice charges for deposit, withdrawal. With this in mind, both brokers offer similar non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that is the better option.
Trading Fees*
| TYPE OF FEE | FXCM | FXCHOICE |
|---|---|---|
| Minimum Spread EURUSD (pips) | 1.3 | 1.4 |
| Commission (%) | 0 | 0 |
| Commission on Islamic Accounts (%) | 0 |
*Based on Standard account type.
Non-Trading Fees
| TYPE OF FEE | FXCM | FXCHOICE |
|---|---|---|
| Account Fees | N | N |
| Inactivity Fees | Y | N |
| Deposit Fees | N | Y |
| Withdrawal Fees | Y | Y |
Which broker is safer, FXCM or FXChoice?
In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.
FXCM is regulated by FCA, CySec, FSCA, ASIC and offers client protection. FXChoice is regulated by IFSC and offers client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that FXCM is the safer broker.
Broker summary
| FXCM | FXCHOICE | |
|---|---|---|
| Minimum Deposit (USD $) | 50 (depending on the payment method) | 100 |
| Licenses | FCA, CySec, FSCA, ASIC | IFSC |
| Max. Leverage | 1:400 (1:30 for AU, EU and UK clients) | 1:200 |
| Client Protection | Y | N |
| Broker Type | Enhanced Execution | Market Maker/NDD |
| Number of Instruments | 60+ | 50+ |
| Currency Pairs | 39 | 36 |
| Stocks | 100+ | 0 |
| Cryptocurrencies | 7 | 3 |
| CFDs | Y | Y |
| Proprietary Trading Platform | N | N |
| MT 4 | Y | Y |
| MT 5 | N | Y |
| Mobile Compatible | Y | Y |
| Research Tools | Y | Y |
| Educational Materials | Y | Y |
| Payment Methods | Bank transfer, Visa, Mastercard, Skrill, Netseller | Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, PaySafe, ePay, E-Wallet and more |
| 24/5 Customer Support | Y | Y |
| Live Chat | Y | Y |
How many trading instruments are available at FXCM and FXChoice?
FXCM provides traders with 60+ instruments. This includes 39 currency pairs, 7 cryptocurrencies, and 100+ stocks and shares. With FXCM, you can also trade CFDs.
In comparison, FXChoice boasts 50+ tradable instruments. FXChoice offers 36 currency pairs, 3 cryptocurrencies, and 0 stocks and shares. FXChoice also allows CFD trading.
As FXChoice has 50+ and FXCM has 60+, a difference of 10, this shows that FXChoice offers more opportunities to diversify your trading portfolio.
Markets and Products
| INSTRUMENT | FXCM | FXCHOICE |
|---|---|---|
| Currency Pairs | 39 | 36 |
| Commodities | 11 | 4 |
| Precious Metals | 3 | 2 |
| Indices | 15 | 6 |
| Stocks and Shares | 100+ | 0 |
| Cryptocurrencies | 7 | 3 |
| Options | 0 | |
| ETFs | 1 | 1 |
Which broker offers the best trading platform, FXCM or FXChoice?
When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.
FXCM provides you with the ability to trade via 3 trading platforms, and FXChoice has 3 trading platforms, too. Both brokers also offer research and trading tools, however FXCM has more.
Overall, our experts agree that FXCM boasts the better trading platform offering.
Research Tools
| TOOL | FXCM | FXCHOICE |
|---|---|---|
| News (from top-tier sources) | Y | Y |
| Trading Signals and Indicators | Y | Y |
| Trade Ideas | Y | N |
| Expert Analysis | Y | N |
| Autochartist Tools | N | N |
| Sentiment Charts | Y | N |
| Economic Calendar | Y | Y |
Which is better for beginners, FXCM or FXChoice?
To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.
Considering this, our reviews show that FXCM is the better broker for beginner traders as it offers a larger range of educational tools and materials. FXCM also has a minimum deposit of $.
Educational Features
| FEATURE | FXCM | FXCHOICE |
|---|---|---|
| Demo Account | Y | Y |
| Platform Tutorial Videos | Y | Y |
| Educational PDFs | Y | N |
| Live Webinars | Y | N |
| YouTube Videos | Y | Y |
| Trading Academy | Y | N |
| Trading Glossary | Y | N |
Which broker is better overall?
Overall, our tested reviewing methodology proves that FXCM is the better broker in a range of key areas. You can learn more by reading our FXCM and FXChoice reviews.
