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AvaTrade vs FX Choice (MyChoiceFX) 2019

Is AvaTrade better than FX Choice (MyChoiceFX)? After assessing forex brokers on nearly 100 different variables, AvaTrade is better than FX Choice (MyChoiceFX). AvaTrade provides multiple platforms for automated and social copy trading. It also offers forex options, in addition to spot CFDs (cryptocurrency included) across multiple markets via its entities regulated in major and emerging financial hubs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Overall Rating

Feature AvaTrade FX Choice (MyChoiceFX)
Overall 3 2.5
AvaTrade Review FX Choice (MyChoiceFX) Review
74-89% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature AvaTrade FX Choice (MyChoiceFX)
Trust Score 82 54
Year Founded
2006 2010
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
2 0
Tier-2 Licenses
1 0
Tier-3 Licenses
2 1
Authorised in the European Union
Yes No

Tier-1 Licenses

Feature AvaTrade FX Choice (MyChoiceFX)
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
No No
CFTC Registered (USA)
No No

Investments

Feature AvaTrade FX Choice (MyChoiceFX)
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
60 38
CFDs - Total Offered
221 12
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3 2
Winner check_circle

Cost

Feature AvaTrade FX Choice (MyChoiceFX)
Average Spread EUR/USD - Standard
1.3 (Sep 19) N/A
All-in Cost EUR/USD - Active
N/A N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 3.5 2.5
Winner check_circle

Funding

Feature AvaTrade FX Choice (MyChoiceFX)
Minimum Initial Deposit
$100.00 $100
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature AvaTrade FX Choice (MyChoiceFX)
Proprietary Platform
Yes No
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
Yes Yes
cTrader
No No

Trading Tools

Feature AvaTrade FX Choice (MyChoiceFX)
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 7
Charting - Indicators / Studies (Total)
51 51
Charting - Drawing Tools (Total)
31 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 3.5 3
Winner check_circle

Mobile Trading

Feature AvaTrade FX Choice (MyChoiceFX)
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
No No
Charting - Indicators / Studies
30 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
No No
Mobile Trading 3 2.5
Winner check_circle

Research

Feature AvaTrade FX Choice (MyChoiceFX)
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
No Yes
Weekly Webinars
No No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes
Research 3 2.5
Winner check_circle

Education

Feature AvaTrade FX Choice (MyChoiceFX)
Has Education - Forex
Yes No
Has Education - CFDs
No No
Client Webinars
No No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes No
Education 4 2
Winner check_circle

Major Forex Pairs

Feature AvaTrade FX Choice (MyChoiceFX)
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature AvaTrade FX Choice (MyChoiceFX)
AvaTrade Review FX Choice (MyChoiceFX) Review
Overall 3 2.5
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare AvaTrade vs FX Choice (MyChoiceFX).

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. AvaTrade's score is 3.50 stars versus FX Choice (MyChoiceFX)'s 2.50 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. AvaTrade is regulated in a major hub, FX Choice (MyChoiceFX) isn't. AvaTrade nor FX Choice (MyChoiceFX) are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. FX Choice (MyChoiceFX) trails AvaTrade by 22 total currency pairs (for example, EUR/USD), with AvaTrade offering 60 and FX Choice (MyChoiceFX) offering 38.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. AvaTrade and FX Choice (MyChoiceFX) both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. AvaTrade and FX Choice (MyChoiceFX) offer the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.

AvaTrade Review
FX Choice (MyChoiceFX) Review


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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