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XTB vs FX Choice (MyChoiceFX) 2019

Is FX Choice (MyChoiceFX) better than XTB? After assessing forex brokers on nearly 100 different variables, XTB is better than FX Choice (MyChoiceFX). XTB is regulated in several financial centers, and offers a wide range of markets catering well to traders looking to trade forex, crypto, CFDs, and exchange-traded asset classes on its xStation5 platform and on MetaTrader4, which supports algorithmic trading.
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 XTB FX Choice (MyChoiceFX)
Overall 4 2.5
XTB Review FX Choice (MyChoiceFX) Review
79% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature XTB FX Choice (MyChoiceFX)
Trust Score 90 54
Year Founded
2002 2010
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
1 0
Tier-2 Licenses
1 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes No

Tier-1 Licenses

Feature XTB FX Choice (MyChoiceFX)
ASIC Authorised (Australia)
No 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 XTB FX Choice (MyChoiceFX)
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
48 38
CFDs - Total Offered
1728 12
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3.5 2
Winner check_circle

Cost

Feature XTB FX Choice (MyChoiceFX)
Average Spread EUR/USD - Standard
0.9 (as of May 19) N/A
All-in Cost EUR/USD - Active
0.8 (as of May 19) N/A
Active Trader or VIP Discounts
No Yes
Commissions & Fees 4 2.5
Winner check_circle

Funding

Feature XTB FX Choice (MyChoiceFX)
Minimum Initial Deposit
$250.00 $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 XTB 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 XTB 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 4 3
Winner check_circle

Mobile Trading

Feature XTB 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
Yes No
Mobile Trading 3.5 2.5
Winner check_circle

Research

Feature XTB FX Choice (MyChoiceFX)
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes 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 4 2.5
Winner check_circle

Education

Feature XTB 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)
No No
Education 4 2
Winner check_circle

Major Forex Pairs

Feature XTB 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 XTB FX Choice (MyChoiceFX)
XTB 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 FX Choice (MyChoiceFX) vs XTB.

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. XTB's score is 4.00 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. XTB is regulated in a major hub, while FX Choice (MyChoiceFX) is not. XTB is a publicly traded company, while FX Choice (MyChoiceFX) is not. As far as how many currency pairs are available for trading, here's the answer. FX Choice (MyChoiceFX) trails XTB by 10 total currency pairs (for example, EUR/USD), with XTB offering 48 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. FX Choice (MyChoiceFX) alongside XTB 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. Both FX Choice (MyChoiceFX) and XTB provide clients with access to 31 total charting tools. Both FX Choice (MyChoiceFX) and XTB provide clients with access to 51 total indicators (eg, moving averages).

FX Choice (MyChoiceFX) Review
XTB 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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