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CMC Markets vs FX Choice (MyChoiceFX) 2019

Is CMC Markets better than FX Choice (MyChoiceFX)? After grading the best forex brokers on nearly 100 different variables, CMC Markets is better than FX Choice (MyChoiceFX). Through its offices regulated in major global financial centers, CMC Markets offers traders a wide range of financial products with excellent pricing and its Next Generation trading platform, which is packed with innovative trading tools and charting.
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.

Overall Rating

Feature CMC Markets FX Choice (MyChoiceFX)
Overall 4.5 2.5
CMC Markets Review FX Choice (MyChoiceFX) Review
75% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature CMC Markets FX Choice (MyChoiceFX)
Trust Score 99 54
Year Founded
1989 2010
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
4 0
Tier-2 Licenses
2 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes No

Tier-1 Licenses

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

Investments

Feature CMC Markets FX Choice (MyChoiceFX)
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
180 38
CFDs - Total Offered
9848 12
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4 2
Winner check_circle

Cost

Feature CMC Markets FX Choice (MyChoiceFX)
Average Spread EUR/USD - Standard
0.81 (as of Oct 19) N/A
All-in Cost EUR/USD - Active
0.81 (as of Oct 19) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 5 2.5
Winner check_circle

Funding

Feature CMC Markets FX Choice (MyChoiceFX)
Minimum Initial Deposit
$0.00 $100
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature CMC Markets 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)
No Yes
cTrader
No No

Trading Tools

Feature CMC Markets FX Choice (MyChoiceFX)
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
8 7
Charting - Indicators / Studies (Total)
79 51
Charting - Drawing Tools (Total)
24 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 3
Winner check_circle

Mobile Trading

Feature CMC Markets 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
Yes No
Charting - Indicators / Studies
23 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes No
Mobile Trading 4 2.5
Winner check_circle

Research

Feature CMC Markets FX Choice (MyChoiceFX)
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
No No
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 2.5
Winner check_circle

Education

Feature CMC Markets FX Choice (MyChoiceFX)
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes 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 CMC Markets 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 CMC Markets FX Choice (MyChoiceFX)
CMC Markets Review FX Choice (MyChoiceFX) Review
Overall 4.5 2.5
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare CMC Markets vs FX Choice (MyChoiceFX).

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. CMC Markets is a better option with a 5.00 star rating over FX Choice (MyChoiceFX)'s 2.50 star rating.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. CMC Markets is regulated in a major hub while FX Choice (MyChoiceFX) is not. CMC Markets is a publicly traded company while FX Choice (MyChoiceFX) is not. How many currency pairs are available to trade? CMC Markets offers its clients access to 180 different currency pairs while FX Choice (MyChoiceFX) has 38 available pairs, a difference of 142.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both CMC Markets and FX Choice (MyChoiceFX) offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. CMC Markets trails FX Choice (MyChoiceFX) by 7 total charting tools, with FX Choice (MyChoiceFX) offering 31 and CMC Markets offering 24. CMC Markets offers its clients access to 79 different indicators (for example, volume) while FX Choice (MyChoiceFX) has 51 available indicators, a difference of 28.

CMC Markets 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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