FXChoice

globofx posted:
I have been working with this broker since 2020 and so far there has never been any problem, whether technical on the platform or when it comes to deposits and withdrawals. Spreads are tight and support is fast and efficient.

I recommend it to everyone.

Dear @globofx,

It was such a pleasure to read your positive review of our services. We wish you all the very best for the future.

FXChoice
 

I have been working with this broker since 2020 and so far there has never been any problem, whether technical on the platform or when it comes to deposits and withdrawals. Spreads are tight and support is fast and efficient.

I recommend it to everyone.

Dear @alank33,

There were six tickets created for this problem. Either by yourself or our customer service. You kept coming to our live chat claiming that you hadn’t received a response. Can you please check your spam folder? We have attached a screenshot of our internal ticketing system where you can see the delivery tick and the date & time of just one of our responses. For accuracy:

Ticket 19428160 – we responded on 9/9/21, 2/9/21 and 31/8/21
Ticket 19371479 – we responded on 23/8/21
Ticket 19370466 – we responded on 20/8/21
Ticket 19362979 – we responded on 19/8/21
Ticket 19358449 – we responded on 19/8/21
Ticket 19341806 – we responded on 16/8/21

The only logical conclusion, if you are not seeing these responses, is that they are in your spam folder. If you require further proof of this correspondence, please let us know and we can send it to you as a private message on myfxbook (as you’re obviously not getting our emails).

Best wishes and good luck!
FXChoice

1) I sent several 'reply' emails (hence why your system created multiple tickets) because no-one was getting back to me. Complete radio silence for days on end.
2) Strange how, with every other broker I have accounts with, I CAN login when the market is closed. I may not be able to trade but I can still log in.

Dear alank33,

Thank you for praising our SWAP fees. It is greatly appreciated.

However, we take serious exception to your claim that we have ‘terrible service’ – we have a strong reputation for providing the best customer service in the forex industry.
Firstly, you created multiple tickets for just one issue, making it much more difficult for our team to respond to your query. All you needed to do to reopen the ticket (if you were not satisfied with our response) was reply to the email. Please note that when we respond, tickets are automatically closed.

Now, to your review. Your first attempt to log in failed because you tried to log in several hours BEFORE the markets opened. Your second attempt to log in was successful AFTER the markets opened, we note. You can check this data yourself by logging in to your device and checking the logs for 15/16th August – they will be identical to our logs.

You were using a signal service that involves several different brokers. In theory, the trades on your signal should be executed everywhere at the same time. However, on that day our liquidity provider delayed streaming quotes by approximately one hour due to high volatility stemming from the beginning of the trading week. This is in the client’s best interests, potentially avoiding huge slippage losses. Your signal provider closed the trades at a time when our quote stream was delayed, so that is why it closed later.

We hope you will find this explanation satisfactory. If you have any further questions, please do not hesitate to contact us.

Best wishes,

FXChoice

Just wanted to leave a review of FX broker 'FX Choice' after a rather disappointing encounter with their support staff.
I've been evaluating them for several months now by opening demo accounts to see how they perform before I open any live accounts.
One Sunday evening in mid-August I attempted to login to my FX Choice accounts via MT4 and could not.
I tried several of my FX Choice accounts and they all failed.
I also have accounts with other brokers and I could login to all those accounts without any issues.
This is my usual Sunday routine and I've been able to login to my FX Choice accounts (at the same time as above) each Sunday before then and since.
Not only could I not login but about an hour or so after markets opened, when FX Choice servers were available again, the FX Choice account I was using to follow a signal closed the trades (at a loss) it had open because the signal provider had closed them earlier (in profit) i.e. soon after the markets opened.
So, to me at least, it was clearly an issue with FX Choice.
But not to their support staff. It took weeks of back and forth and getting nowhere.
Not only did they flatly refuse that there was any issue on their side but when I'd reply to their update they would send some arbitrary response and then close the ticket, so any response I send thereafter is completely ignored.
FX Choice do have some good aspects like positive SWAP fees on some pairs but without proper support a broker becomes a risk because when things go wrong you're not sure if they'll acknowledge it and/or fix it.
So overall, just not good enough.

Dear melxpress,

We are very disappointed to read your review. You have pointed to our FAQ pages, and we can see how that would be frustrating, but we make it very clear on the Deposit and Withdrawals page (https://en.myfxchoice.com/accounts/deposits-withdrawals/) that the method available depends on your country. We will paste the pertinent text:

‘Attention: The availability of deposit and withdrawal methods varies from one country to another. Some of the methods listed here may not be available in your particular country. Please contact our support team for more details.’

We also point your attention to the Deposits & Withdrawals policy (https://en.myfxchoice.com/deposit-and-withdrawal-policy/) , where it clearly states that clients should endeavour to use the same withdrawal method as they deposited.

Again, we can see how this would be frustrating, and it’s not ideal to point clients to policy, but we are a fully-regulated broker and have to stay within AML guidelines that stipulate withdrawal methods must match the deposit.

Please also understand that we reimburse VLoad deposit fees, and cover 50% of the withdrawal costs. We do not charge those fees, it is the payment processor.

We hope for your understanding,

Best wishes,
FXChoice

I don't recommend using FXChoice. I strongly recommend anyone to turn around and look elsewhere.

https://en.myfxchoice.com/faq/deposits-withdrawals/#1 - Their FAQ says that you can deposit money using any of the following methods.

https://en.myfxchoice.com/faq/deposits-withdrawals/#2 - Their FAQ says you can withdraw using any of the following methods.


I have made several deposits using Bitcoin and VLoad, however when I tried to withdraw, they only allowed me to withdraw once using Bitcoin and then force me to withdraw the rest with VLoad. Why would they not allow me to withdraw the rest with Bitcoin is beyond me. Going back and forth with FXChoice regarding my issue, first they said that I could only withdraw with VLoad but that's not true because they had already allowed me to withdraw with Bitcoin.

Withdrawing with VLoad is the dumbest process ever! FXChoice will charge you 3.5% to transfer your withdraw to VLoad and then VLoad will charge you another 3.5% to transfer to your bank account.

I'm still trying to get answers from FXChoice and I've asked them to escalate this terrible mess to upper management for review because it's not right for them to force me to use a method of withdrawal when they provide many methods.

Why show 16 different withdrawal methods and then force me to use only 1?

Dear BigBendFXSignal,

We are very grateful for your positive review and for covering our quick deposit and withdrawals.

Best wishes and good luck!

Great broker. Found them years ago from seeing a top system on MyFXBook using them. Have used FX Choice for about 6 months now. No complaints. Easy deposits via bitcoin from bitstamp. Deposits and withdrawals almost always occur same day and with FX Choice Bonus structure are way cheaper than wires and other forms of deposits and withdrawal methods. Have really enjoyed using this FX Choice. Very fair bonus structure for deposits. Most of the complaint seem to be from people not familiar with basic broker structure. Spreads are normal for the industry. I hope to continue to use this broker for years to come.

Dear Nemi,

There are so many things to address here.

Firstly, your claim that there is a 10% fee on BTC Deposits is incorrect – we have no fees on BTC deposits and conversions. Also, you claim that BTC deposits take 24 hours – again incorrect. They take as long as the blockchain confirmations, which are never that long.

Secondly, we offer a bonus to our clients with a view to give them a head start in tackling the forex market. We do not ‘take it back’ in a month as you claim. We recommend you read the T&Cs of the bonus which clearly state what you need to do to keep the bonus.

Thirdly, we have checked our records and can see that you received all of our emails regarding the WTI Crude price collapse. You should know by now that the WTI ‘swaps’ were NOT swaps, but adjustments to cancel out any profit/loss as the price feed switched from the May to the June contract. You cannot open a trade on the May contract and close on the June contract whilst keeping the same opening price. The adjustment simulates the closing and reopening of your trade.

Fourthly, as an EU citizen, you cannot use wire transfers directly. However, there are many payment providers you could have used that offer wire transfers.

FXChoice

well first you cant make normal deposited from bank...
after BTC deposit youll pay 10% fee (and you must wait X hours) for deposit and as a kind of 'good faith'
they gave it those 10% to your acc as a bonus... but only for a month and then take it back.
But all this was piece of cake. I trade WTI in time when it drops to 0 which wasnt bad it was good actually
but these put swaps on every position which isnt weird but swaps was $2000 per 0.1 lot.
So i started saving my account every profit I made I cut piece of swap and when it started to look good
they came up with new high .... they put another swaps 2 weeks earlier just to 'protect clients' as they said....
easy money right (for them ofc). so if you considering trade with them, dont. Im glad they take alot of time making my MaM
account so my clients didnt send money to them.

Im sure that someday when someone will have a few hours of free time and know for example python. he or she take that time and
write script that will make shtloads of accounts on every review page so you can end like tiktok with 1 star.
So ppl can see on first look how bad this is.

Dear Hamidfx,

We have found you in our system and reviewed our lengthy correspondence.

All we can do here is reiterate our position: we reworded the information in our CFD Guide and site so clients could see clearer how the expiration worked. We realised that the examples we had used were from 2014, so we refreshed them, but the expiration rules DID NOT change. An even newer version of the CFD Guide will be released soon to reflect the launch of some new instruments.

From now on, we are sending out emails to remind our clients about the expiration dates. We are sure this will mitigate the misunderstanding caused at the switch from the May to June WTI contract.

To confirm, all of your trades were processed correctly and there was no ‘manipulation of the rules to scam our clients’. The trades were passed over onto the new contract EXACTLY as they are every month. Nothing has changed in this respect.

We hope our response will bring some closure to this matter.

Best wishes,
FXChoice

They manipulate their rules to scam you and take your money. Stay away from them
They scammed many clients when the oil price crashed on April 20 and took huge amounts of their clients against their own rules and then they manipulated rules to keep the clients money. Never doubt they are definitely market makers and took clients money.
They manipulated their rules many times in just 3 days and then started to justify their mistake by referring to those manipulated rules.
Based on their original rules regarding CFD’s which was existed from 2014 they must switch to new contract a day before expiration day. Which clearly was explained by an example for contract with expiration date on 16 Jan and it says:
“On 15 January, we switch from using the February 2014 quote to the March 2014 quote as the basis for the spot price, because the underlying February 2014 futures market expires on 16 January.”
But for some reason they didn’t switch on time and they continued with the May contract until April 20 at 21:08 when the price came to one cent and they faced the problem which was caused because they didn’t switch before market opening on April 20. Then they disabled trading on oil for almost 5 hours and then they found the best solution to get the clients money by using the swap because the amount was huge and they decided instead of taking responsibility of system error which gave wrong quote to keep the clients money and instead of normal time for opening market at 01:00 finally at 02:43 they opened market with June contract price with almost 27 hours delay and charged the clients with huge amount of swaps and then they acted like everything was ok and there was no issue
On April 21st they started manipulating their rules. First, I found they manipulated the rules by changing the switching date on example from 15 Jan to 17 Jan.
They didn’t stop it and again they manipulated the rules by changing the date from 17 Jan to “at the beginning of 16 Jan” and instead they postponed all expiry dates one day which for May contracts they changed the expiration date from April 20 to April 21 to cover the problem and by this manipulating they messed up every thing in all emails and in their news on the website and even here in their customer service answers to complaints the expiration date for May contract is April 20 but in the file which is manipulated the expiry date is April 21 and by this action they justified the delay.
When I asked them about the reason for the manipulation of their rules they answered :“we rephrased rules for better understanding” which is ridiculous because they changed the most important parts of rules that was the date and time for switching and it was clear and there was no need to rephrase it except to try to justify their mistake. I also explained that they couldn’t manipulate the rules after issue happened and then try to justify the problem by referring to manipulated rules and the reason, they couldn’t answer based on their rules was definitely their fault and their action was exactly scamming.
Again, I sent evidences and explained their action by changing date of expiration for CFD’s is not rephrasing and they answered: “Our CFDs are based on market contracts. The expiration day is the last day when the contract can be traded and it is always a business day. There couldn’t be any trading on Sunday (April 19), so it could not be the last trading day” and at the same time they sent another email to all clients to say they would switch to July contracts before market opening on May 4th which was Monday and it has the same condition which they are saying we couldn’t do it, because the day before April 20 was Sunday and it wasn’t a business day. So how are you doing it this time. Although all brokers did that before market opening and there is enough time between 23:59:59 of Friday April 17 when the market closed and at 01:00 on the next day when the market opened regardless of the last day being a business day or not like this time you had enough time from 23:59:59 on Friday April 17 to 01:00 April 20. I have all evidences recorded and I would attach them here if it was possible.

axellenz posted:
Fast and competent support! Payment for EU citizens can only be made using the Bitcoin workaround. But the instructions are great and for that you get a lot of bonus.

Dear axellenz,

Thanks for your review. We're so pleased to hear that you rate our support so highly, and we're especially pleased to hear that the BTC deposit bonus is working for you: feedback so far suggests it's really resonating with our clients.

Best wishes,

FXChoice

Fast and competent support! Payment for EU citizens can only be made using the Bitcoin workaround. But the instructions are great and for that you get a lot of bonus.

myfxchoice posted:
Dear Parish,

Many thanks for your positive review. Keep up the good work, and we will do likewise.

Best wishes,

FXChoice

thanks .
its with mixt results no yet making profit
 so what can i say
kind regards

Dear Parish,

Many thanks for your positive review. Keep up the good work, and we will do likewise.

Best wishes,

FXChoice

i have a account with fx choice
i can not say anthing wrong about them so
😀 it will be a good broker yes .
i give a five star . kind regards

Dear Nimish,

Firstly, we’d be grateful if you could modify your tone. Aggressive language will get us nowhere.
In answer to your review, we reiterate that the money was taken by the correspondent bank because the transaction was incorrectly executed i.e. the bank’s internal policy was responsible for the deduction. We did not take any money.

We now realise there has been an oversight at our end about this whole affair in that we did not inform you of the former agreement’s expiry. We apologise unreservedly.

We have already spoken with your client and explained the issue. As a gesture of goodwill, we decided, on this occasion, to reimburse the amount incurred by your client to make up for our oversight.
We hope that this will bring an end to this ongoing issue for you.