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CMC Markets vs FX Choice (MyChoiceFX) 2019
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 | CMC Markets | FX Choice (MyChoiceFX) |
| Overall | ||
| 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 |
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Year Founded |
1989 | 2010 |
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Publicly Traded (Listed) |
Yes | No |
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Bank |
No | No |
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Tier-1 Licenses |
4 | 0 |
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Tier-2 Licenses |
2 | 0 |
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Tier-3 Licenses |
0 | 1 |
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Authorised in the European Union |
Yes | No |
Tier-1 Licenses
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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ASIC Authorised (Australia) |
Yes | No |
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IIROC Authorised (Canada) |
Yes | No |
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SFC Authorised (Hong Kong) |
No | No |
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FSA Authorised (Japan) |
No | No |
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MAS Authorised (Singapore) |
Yes | No |
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FINMA Authorised (Switzerland) |
No | No |
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FCA Authorised (UK) |
Yes | No |
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CFTC Registered (USA) |
No | No |
Investments
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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Currency Pairs (Total Forex pairs) |
180 | 38 |
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CFDs - Total Offered |
9848 | 12 |
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Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Average Spread EUR/USD - Standard |
0.81 (as of Oct 19) | N/A |
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All-in Cost EUR/USD - Active |
0.81 (as of Oct 19) | N/A |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Minimum Initial Deposit |
$0.00 | $100 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
Yes | No |
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Skrill (Deposit/Withdraw) |
No | Yes |
Trading Platforms
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Proprietary Platform |
Yes | No |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
No | Yes |
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cTrader |
No | No |
Trading Tools
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
8 | 7 |
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Charting - Indicators / Studies (Total) |
79 | 51 |
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Charting - Drawing Tools (Total) |
24 | 31 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | No |
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Charting - Indicators / Studies |
23 | 30 |
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Charting - Draw Trend Lines |
Yes | Yes |
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Charting - Trend Lines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Forex Calendar |
Yes | No |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Daily Market Commentary |
Yes | No |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
Yes | No |
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AutoChartist |
No | No |
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Trading Central (Recognia) |
Yes | No |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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Has Education - Forex |
Yes | No |
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Has Education - CFDs |
Yes | No |
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Client Webinars |
Yes | No |
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Client Webinars (Archived) |
Yes | No |
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Videos - Beginner Trading Videos |
Yes | No |
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Videos - Advanced Trading Videos |
Yes | No |
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Investor Dictionary (Glossary) |
Yes | No |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | CMC Markets | FX Choice (MyChoiceFX) |
| CMC Markets Review | FX Choice (MyChoiceFX) Review | |
| Overall | ||
| Winner | check_circle |
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.
