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eToro vs FX Choice (MyChoiceFX) 2019

Is eToro better than FX Choice (MyChoiceFX)? After assessing the best forex brokers on nearly 100 different variables, eToro is better than FX Choice (MyChoiceFX). eToro is a winner in 2019 for its easy-to-use copy-trading platform where traders can copy the trades of other users across over 1,900 instruments, including CFDs on popular cryptocurrencies.
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 eToro FX Choice (MyChoiceFX)
Overall 4 2.5
eToro Review FX Choice (MyChoiceFX) Review
75% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature eToro FX Choice (MyChoiceFX)
Trust Score 91 54
Year Founded
2007 2010
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
2 0
Tier-2 Licenses
1 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes No

Tier-1 Licenses

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

Investments

Feature eToro FX Choice (MyChoiceFX)
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
47 38
CFDs - Total Offered
1980 12
Cryptocurrency traded as actual
Yes No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4 2
Winner check_circle

Cost

Feature eToro FX Choice (MyChoiceFX)
Average Spread EUR/USD - Standard
3 (as of May 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 eToro FX Choice (MyChoiceFX)
Minimum Initial Deposit
$200 $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 eToro FX Choice (MyChoiceFX)
Proprietary Platform
Yes No
Desktop Platform (Windows)
No Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No No

Trading Tools

Feature eToro FX Choice (MyChoiceFX)
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
6 7
Charting - Indicators / Studies (Total)
66 51
Charting - Drawing Tools (Total)
13 31
Charting - Trade From Chart
No Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 3
Winner check_circle

Mobile Trading

Feature eToro FX Choice (MyChoiceFX)
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
No Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
5 30
Charting - Draw Trend Lines
No Yes
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
No No
Mobile Trading 4 2.5
Winner check_circle

Research

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

Education

Feature eToro FX Choice (MyChoiceFX)
Has Education - Forex
Yes No
Has Education - CFDs
No No
Client Webinars
Yes No
Client Webinars (Archived)
No 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 eToro 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 eToro FX Choice (MyChoiceFX)
eToro Review FX Choice (MyChoiceFX) Review
Overall 4 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 eToro 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. eToro received a rating of 3.50 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. eToro is regulated in a major hub while FX Choice (MyChoiceFX) is not. eToro nor FX Choice (MyChoiceFX) are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. eToro boasts an offering of 47 different currency pairs compared to FX Choice (MyChoiceFX)'s 38 available pairs.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FX Choice (MyChoiceFX) offers Meta Trader while eToro does not. 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. eToro trails FX Choice (MyChoiceFX) by 18 total charting tools, with FX Choice (MyChoiceFX) offering 31 and eToro offering 13. FX Choice (MyChoiceFX) trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and FX Choice (MyChoiceFX) offering 51.

eToro 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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