Nadex vs FXChoice Broker Comparison

Are you trying to figure out which is a better broker, Nadex or FXChoice? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that Nadex is the better of the two. Nadex offers 60+ instruments, licenses from FSA(SVG), CFTC, and fair trading fees.

In the tables below, you can compare the features of Nadex 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 Nadex higher than FXChoice.

Rating
94/100
93.8/100
Min. Deposit
250$
100$
Regulated By
FSA(SVG)FSA(SVG)
IFSCIFSC
Bonus
No Information
15%
Min. Spread
0.25
1.4
Max. Leverage
N/A
1:200
Currency Pairs
10
36
Trading Instruments
60+
50+
Trading Platforms
mobile, WebTrader
MT4, MT5, mobile
Deposit Methods
Bank transfer, Visa, MasterCard, ACH
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, PaySafe, ePay, E-Wallet and more
Type of Brokers
Market Maker
Market Maker/NDD
Customer Support
Trading Hours Only
24/5
Language Support
1
8
Established
2009, HQ in Chicago
2010
Used By
125,000+ Traders
100,000+ Traders

Does Nadex 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 Nadex and FXChoice are, we first considered the common fees on Standard Accounts. At Nadex the average spread for the EUR/USD currency pair is 0.25 pips, whilst at FXChoice the spread is 1.4.

This shows that Nadex is the better option for low-cost forex trading.

When it comes to non-trading fees, Nadex 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 FXChoice is the better option.

Trading Fees*

*Based on Standard account type.

Non-Trading Fees

Which broker is safer, Nadex 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.

Nadex is regulated by FSA(SVG), CFTC and does not offer client protection. FXChoice is regulated by IFSC and does not offer client protection.

Considering these two factors, and the general reputation and history of both brokers, we believe that Nadex is the safer broker.

Broker summary

How many trading instruments are available at Nadex and FXChoice?

Nadex provides traders with 60+ instruments. This includes 10 currency pairs, 0 cryptocurrencies, and 0 stocks and shares. With Nadex, you cannot 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 Nadex has 60+, a difference of 10, this shows that FXChoice offers more opportunities to diversify your trading portfolio.

Markets and Products

Which broker offers the best trading platform, Nadex 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.

Nadex provides you with the ability to trade via 2 trading platforms, and FXChoice has 3 trading platforms. Both brokers also offer research and trading tools, however Nadex has more.

Overall, our experts agree that FXChoice boasts the better trading platform offering.

Research Tools

Which is better for beginners, Nadex 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 Nadex is the better broker for beginner traders as it offers a larger range of educational tools and materials. Nadex also has a minimum deposit of $.

Educational Features

Which broker is better overall?

Overall, our tested reviewing methodology proves that Nadex is the better broker in a range of key areas. You can learn more by reading our Nadex and FXChoice reviews.

Nadex vs FXChoice
Nadex
94
Points
FXChoice
93.8
Points
Overall
1 points
Nadex
95
Points
FXChoice
96
Points
Commissions & Fees
1 points
Nadex
97
Points
FXChoice
93
Points
Licensing & Safety
4 points
Nadex
96
Points
FXChoice
98
Points
Trading Platforms & Tools
2 points
Nadex
93
Points
FXChoice
97
Points
Payments
4 points
Nadex
94
Points
FXChoice
92
Points
Customer Service
2 points
Nadex
98
Points
FXChoice
87
Points
Educational
11 points
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