FXChoice

Overview of FXChoice

FXChoice Ltd, established in 2010 in Belize, is a cryptocurrency exchange offering trading services for Bitcoin, Litecoin, and Ethereum. Regulated by IFSC, it presents different account options with varying fee structures for spreads and commissions. Payment methods include bank wire transfers, credit/debit cards (Visa/Mastercard), and major cryptocurrencies.

Pros and Cons

Security

FXChoice provides the security and protection of personal data in accordance with the General Data Protection Regulation (GDPR). Various security technologies and procedures are implemented to prevent unauthorized access, use, or disclosure of personal data. Access to personal data is restricted to authorized individuals who are bound by confidentiality obligations.

To safeguard personal data, FXChoice employs internal technical and organizational measures such as encryption, firewalls, intrusion detection systems, and physical facility protection. Strong security procedures are implemented across all service operations to maintain data accuracy and ensure the appropriate use of personal data.

Information transfer security is ensured through the use of a SSL certificate with 256-bit encryption, which encrypts data transmitted to and from the FXChoice website.

However, FXChoice is regulated by the International Financial Services Commission (IFSC) with the regulation number 000067/96. However, the exchange is considered to exceed the regulation requirements and holds a Common Financial Service License. The license name is FX CHOICE LIMITED.

Cryptocurrencies Available

FXChoice currently lists 13 cryptocurrencies, which are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), USD Coin (USDC), XRP (XRP), Cardano (ADA), Solana (SOL), Terra (LUNA), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Shiba Inu (SHIB), and Cronos (CRO).

The coin-listing speed on FXChoice is relatively slow. It can take several weeks or even months for a new coin to be listed on the exchange. This is because FXChoice has a rigorous listing process that it must adhere to in order to ensure the safety and security of its users.

Fees

FXChoice's trading fees for cryptocurrency trading are as follows:

• Taker fee: 0.075%
• Maker fee: -0.025%

The maker fee is a rebate that is paid to traders who place limit orders that are executed. The taker fee is charged to traders who place market orders that are immediately executed.

These fees are relatively low compared to other cryptocurrency exchanges. For example, Binance's taker fee is 0.1% and its maker fee is -0.05%.

FXChoice also offers a tiered fee structure for high-volume traders. Traders who trade more than 100 lots per day will pay a taker fee of 0.05% and a maker fee of -0.01%.

In addition to trading fees, FXChoice also charges a commission of $3.50 per standard lot of $100,000. This commission is charged on all trades, regardless of whether they are taker or maker orders.

Is FXChoice a Good Exchange for You？

FXChoice can be considered the best exchange for automated trading due to its support for MQL5 Signals, Myfxbook Autotrade, Expert Advisors, and VPS services.

FXChoice caters to a diverse range of trading groups with varying needs and preferences. Based on its offerings and features, the following target groups may find FXChoice suitable for their virtual currency trading:

1. Experienced Traders Offering diverse cryptocurrency trading options, various account types, payment methods, and leverage trading opportunities.

2. Traders Seeking Diversity Providing trading for over 20 cryptocurrencies, diverse account types, and a variety of payment methods.

3. High-Risk Investors Mentioning the Belize IFSC license, reminding users to be aware of potential risks associated with offshore regulation.