Compare FP Markets vs FX Choice
What is FP Markets? What is FX Choice ?
FP Markets is a global forex and CFD broker that was established in 2005 and is regulated by ASIC, CySEC and ESMA. It offers over 10,000 trading instruments across various platforms, including MT4, MT5, IRESS and WebTrader. It claims to provide tight spreads, fast execution, deep liquidity and exceptional customer service.
FX Choice is a forex and CFD broker that was founded in 2010 and is regulated by IFSC. It offers over 100 trading instruments on MT4 and MT5 platforms, as well as a proprietary platform called Myfxbook AutoTrade. It claims to provide competitive pricing, reliable execution, flexible leverage and responsive support .
FP Markets vs FX Choice Regulation Comparison
FP Markets is regulated by three reputable authorities: the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the European Securities and Markets Authority (ESMA). These regulators impose strict rules and standards on FP Markets, such as maintaining adequate capital, segregating client funds, conducting regular audits, providing fair and transparent services, and adhering to anti-money laundering policies.
FX Choice is regulated by one authority: the International Financial Services Commission (IFSC) of Belize. This regulator is considered to be less stringent and reputable than the ones that oversee FP Markets. The IFSC requires FX Choice to hold a minimum capital of $500,000, keep client funds in segregated accounts, submit periodic reports, and comply with anti-money laundering laws .
FP Markets vs FX Choice Trading Assets Comparison
FP Markets offers a wider range of trading assets than FX Choice. FP Markets has over 10,000 instruments across various markets, such as forex, shares, indices, commodities, metals, bonds and futures.
FX Choice has over 100 instruments across forex, metals, indices, commodities and cryptocurrencies . FP Markets has 60+ forex pairs with spreads from 0.0 pips on its Raw account and from 1.0 pips on its Standard account. FX Choice has 38 forex pairs with spreads from 0.2 pips on its Pro account and from 0.5 pips on its Classic account.
FP Markets vs FX Choice Trading Fees Comparison
FP Markets charges different fees depending on the account type and platform chosen by the trader. For its MT4/MT5 accounts, FP Markets has two options: Standard and Raw. The Standard account has no commission but higher spreads, while the Raw account has lower spreads but a commission of $3 per side per lot. For its IRESS accounts, FP Markets has three options: Standard, Platinum and Premier. The Standard account has a commission of 0.08% or $10 minimum per trade, while the Platinum and Premier accounts have lower commissions of 0.05% or $3 minimum per trade and 0.03% or $3 minimum per trade respectively.
FX Choice also charges different fees depending on the account type and platform chosen by the trader. For its MT4/MT5 accounts, FX Choice has two options: Classic and Pro. The Classic account has no commission but higher spreads, while the Pro account has lower spreads but a commission of $3.5 per side per lot. For its Myfxbook AutoTrade platform, FX Choice charges a performance fee of 15% to 25% of the profits generated by the signal providers that the trader follows.
FP Markets vs FX Choice Account Types Comparison
FP Markets offers four main account types: Standard MT4/MT5, Raw MT4/MT5, Standard IRESS and Platinum IRESS. The minimum opening balance for all these accounts is $100 AUD or equivalent. FP Markets also offers a Premier IRESS account for high-volume traders who can negotiate lower commissions with the broker. In addition, FP Markets offers Islamic accounts for traders who follow Sharia law and do not want to pay or receive interest on their trades.
FX Choice offers two main account types: Classic MT4/MT5 and Pro MT4/MT5. The minimum opening balance for both these accounts is $100 USD or equivalent. FX Choice also offers an AutoTrade account for traders who want to copy the trades of other successful traders through the Myfxbook platform. Moreover, FX Choice offers Islamic accounts for traders who follow Sharia law and do not want to pay or receive interest on their trades.
FP Markets vs FX Choice Deposit Options Comparison
FP Markets supports a variety of deposit and withdrawal options, such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, PayPal, etc.), online payment systems (POLi, BPay, etc.) and cryptocurrencies (Bitcoin, Ethereum, etc.). FP Markets does not charge any fees for deposits or withdrawals, but some third-party providers may apply their own fees. The processing time for deposits and withdrawals varies depending on the method used, but FP Markets aims to process them as quickly as possible.
FX Choice also supports a range of deposit and withdrawal options, such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, Perfect Money, etc.), online payment systems (Trustly, AstroPay, etc.) and cryptocurrencies (Bitcoin, Litecoin, Ethereum, etc.) . FX Choice does not charge any fees for deposits or withdrawals, but some third-party providers may apply their own fees. The processing time for deposits and withdrawals varies depending on the method used, but FX Choice aims to process them within 24 hours .
FP Markets vs FX Choice Trading Platforms Comparison
FP Markets offers three main trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and IRESS. MT4 and MT5 are the most popular trading platforms in the world, offering advanced charting tools, customisable indicators, automated trading options and mobile apps. IRESS is a web-based platform that provides access to over 10,000 global instruments, advanced order types, market depth and news feeds. FP Markets also offers a web-based platform called WebTrader that allows traders to access their MT4/MT5 accounts from any browser.
FX Choice offers two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 and MT5 are the most popular trading platforms in the world, offering advanced charting tools, customisable indicators, automated trading options and mobile apps. FX Choice also offers a proprietary platform called Myfxbook AutoTrade that allows traders to follow and copy the trades of other successful traders through the Myfxbook social network .
FP Markets vs FX Choice Analytical Tools Comparison
FP Markets provides a range of analytical tools to help traders make informed decisions. These include an economic calendar, market news, trading signals, technical analysis tools, trading calculators and educational resources. FP Markets also offers a free VPS service for traders who use EAs or scalping strategies on their MT4/MT5 accounts.
FX Choice also provides some analytical tools to assist traders in their trading journey. These include an economic calendar, market news, trading signals, technical analysis tools and educational resources. FX Choice also offers a free VPS service for traders who deposit at least $3,000 USD or equivalent on their MT4/MT5 accounts .
FP Markets vs FX Choice . Which forex broker is better? Which forex broker should you choose?
Choosing the right broker depends on your personal preferences, trading goals, risk appetite and budget. Both FP Markets and FX Choice have their own advantages and disadvantages. You should compare them based on criteria that are important to you, such as regulation, fees, assets, platforms, tools, and support. You should also read some reviews and feedback from other traders who have used these brokers, as they can provide some insight into their performance and reliability. Ultimately, the best forex broker for you is the one that fits your needs and expectations.
