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FX Choice (MyChoiceFX) vs Dukascopy 2019

Is Dukascopy better than FX Choice (MyChoiceFX)? After assessing forex brokers on nearly 100 different variables, Dukascopy is better than FX Choice (MyChoiceFX). Thanks to its JForex platform suite, Dukascopy provides forex traders industry leading trading tools and market research, which includes our favorite mobile app for 2019. Customer service and a narrow offering are the only weak spots in an otherwise great offering.
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 FX Choice (MyChoiceFX) Dukascopy
Overall 2.5 4
FX Choice (MyChoiceFX) Review Dukascopy Review
74-89% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature FX Choice (MyChoiceFX) Dukascopy
Trust Score 54 87
Year Founded
2010 2004
Publicly Traded (Listed)
No No
Bank
No Yes
Tier-1 Licenses
0 2
Tier-2 Licenses
0 0
Tier-3 Licenses
1 0
Authorised in the European Union
No Yes

Tier-1 Licenses

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

Investments

Feature FX Choice (MyChoiceFX) Dukascopy
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
38 60
CFDs - Total Offered
12 593
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 2 3.5
Winner check_circle

Cost

Feature FX Choice (MyChoiceFX) Dukascopy
Average Spread EUR/USD - Standard
N/A 1.00 (as of Q3 19)
All-in Cost EUR/USD - Active
N/A 0.52 (as of Q3 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 2.5 4.5
Winner check_circle

Funding

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

Trading Platforms

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

Trading Tools

Feature FX Choice (MyChoiceFX) Dukascopy
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 4.5
Winner check_circle

Mobile Trading

Feature FX Choice (MyChoiceFX) Dukascopy
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
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
No Yes
Mobile Trading 2.5 4.5
Winner check_circle

Research

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

Education

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

Major Forex Pairs

Feature FX Choice (MyChoiceFX) Dukascopy
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 FX Choice (MyChoiceFX) Dukascopy
FX Choice (MyChoiceFX) Review Dukascopy Review
Overall 2.5 4
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 Dukascopy 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. Dukascopy received a rating of 4.50 stars over 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. Dukascopy is regulated in a major hub, FX Choice (MyChoiceFX) isn't. Neither Dukascopy and 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 Dukascopy by 26 total currency pairs (for example, EUR/USD), with Dukascopy offering 64 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. Dukascopy 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. Dukascopy and FX Choice (MyChoiceFX) offer the same number of charting tools, 31. Dukascopy and FX Choice (MyChoiceFX) offer the same number of indicators (eg, volume), 51.

Dukascopy 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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