Compare MTrading vs FX Choice
What is MTrading? What is FX Choice?
MTrading is a forex broker that offers trading in various markets, such as commodities, crypto, indices, and shares. It provides clients with a wide range of trading platforms, such as MetaTrader 4, MetaTrader 5, mobile trading, and web terminal. It also has a copy trading platform and a partnership program for affiliates and money managers.
FX Choice is a forex broker that provides competitive and superior service for over 10 years. It offers trading in forex, crypto, indices, commodities, and shares. It also has a MetaTrader 4 and MetaTrader 5 platform, as well as a mobile trading and web terminal option. It has a referral program and a loyalty program for its clients.
MTrading vs FX Choice Regulation Comparison
MTrading is regulated by the International Financial Services Commission (IFSC) of Belize with license number IFSC/60/270/TS/14. FX Choice is also regulated by the IFSC of Belize with license number IFSC/60/191/TS/19. Both brokers are subject to the same regulatory authority and have to comply with its rules and standards.
MTrading vs FX Choice Trading Assets Comparison
MTrading offers trading in up to 36 forex pairs, the most popular crypto coins, various indices CFDs, gold, silver and oil, and shares of your favourite companies.
FX Choice offers trading in up to 38 forex pairs, the most popular crypto coins, various indices CFDs, gold, silver and oil, and shares of your favourite companies. Both brokers have a similar range of trading assets, but FX Choice has slightly more forex pairs than MTrading.
MTrading vs FX Choice Trading Fees Comparison
MTrading has three types of accounts: Classic, Pro, and Optimum. The Classic account has no commissions, but higher spreads starting from 1.2 pips. The Pro account has lower spreads starting from 0 pips, but charges a commission of $3 per lot per side. The Optimum account has no commissions, but higher spreads starting from 1.5 pips. The minimum deposit for all accounts is $10.
FX Choice has two types of accounts: Classic and Pro. The Classic account has no commissions, but higher spreads starting from 0.5 pips. The Pro account has lower spreads starting from 0 pips, but charges a commission of $3.86 per lot per side. The minimum deposit for both accounts is $100. Both brokers have similar trading fees, but MTrading has lower minimum deposit requirements than FX Choice.
MTrading vs FX Choice Account Types Comparison
MTrading offers three types of accounts: Classic, Pro, and Optimum. The Classic account has a leverage of up to 1:1000, the Pro account has a leverage of up to 1:500, and the Optimum account has a leverage of up to 1:1000.
FX Choice offers two types of accounts: Classic and Pro. The Classic account has a leverage of up to 1:2000, and the Pro account has a leverage of up to 1:200. Both brokers have flexible leverage options, but FX Choice has higher leverage for the Classic account than MTrading.
MTrading vs FX Choice Deposit Options Comparison
MTrading offers various deposit and withdrawal methods, such as Visa/Mastercard, Skrill/Neteller, SWIFT, local banking, and other methods. It does not charge any fees for deposits or withdrawals.
FX Choice also offers various deposit and withdrawal methods, such as Visa/Mastercard, Skrill/Neteller, SWIFT, local banking, crypto currencies, and other methods. It does not charge any fees for deposits or withdrawals either. Both brokers have similar deposit and withdrawal options and policies.
MTrading vs FX Choice Trading Platforms Comparison
MTrading provides clients with a wide range of trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), mobile trading (Android and iOS), web terminal (MT4 and MT5), and copy trading platform (MQL5).
FX Choice also provides clients with a wide range of trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), mobile trading (Android and iOS), web terminal (MT4 and MT5), and Myfxbook AutoTrade platform. Both brokers have similar trading platforms available for their clients.
MTrading vs FX Choice Analytical Tools Comparison
MTrading and FX Choice both offers various analytical tools for its clients, such as economic calendar, market news, trading signals, trading calculators, and educational resources.
MTrading vs FX Choice. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, preferences, and goals. There is no definitive answer to which forex broker is better, as both MTrading and FX Choice have their own advantages and disadvantages. However, here are some possible factors that you may want to consider when comparing MTrading and FX Choice:
- Regulation: Both brokers are regulated by the same authority, the IFSC of Belize, which means they have to follow the same rules and standards. However, some traders may prefer brokers that are regulated by more reputable and strict regulators, such as the FCA of the UK, the ASIC of Australia, or the CySEC of Cyprus. These regulators may offer more protection and security for traders, such as compensation schemes, segregated accounts, and dispute resolution mechanisms .
- Trading Assets: Both brokers offer a similar range of trading assets, such as forex, crypto, indices, commodities, and shares. However, FX Choice has slightly more forex pairs than MTrading (38 vs 36), which may appeal to traders who want more currency options. On the other hand, MTrading has a copy trading platform (MQL5), which may attract traders who want to follow or copy other successful traders .
- Trading Fees: Both brokers have similar trading fees, such as spreads and commissions. However, MTrading has lower minimum deposit requirements than FX Choice ($10 vs $100), which may suit traders who have a smaller budget or want to test the broker with a lower risk. Additionally, MTrading has an Optimum account that has no commissions but higher spreads, which may be preferable for traders who trade less frequently or in smaller volumes .
- Account Types: Both brokers have flexible leverage options, but FX Choice has higher leverage for the Classic account than MTrading (1:2000 vs 1:1000), which may appeal to traders who want to trade with higher margin and risk. However, higher leverage also means higher potential losses, so traders should be careful and use proper risk management techniques. Moreover, MTrading has an Optimum account that has no commissions but higher spreads, which may be suitable for traders who trade less frequently or in smaller volumes .
- Deposit and Withdrawal Options: Both brokers have similar deposit and withdrawal options and policies. They offer various methods, such as Visa/Mastercard, Skrill/Neteller, SWIFT, local banking, crypto currencies, and other methods. They also do not charge any fees for deposits or withdrawals. However, some methods may have different processing times or availability depending on the country or region of the trader .
- Trading Platforms: Both brokers provide clients with a wide range of trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), mobile trading (Android and iOS), web terminal (MT4 and MT5), and copy trading platform (MQL5 for MTrading and Myfxbook AutoTrade for FX Choice). These platforms are popular and reliable among traders and offer various features and functions. However, some traders may prefer other platforms that are not offered by these brokers, such as cTrader or NinjaTrader .
- Analytical Tools: Both brokers offer various analytical tools for their clients, such as economic calendar, market news, trading signals, trading calculators, and educational resources. These tools can help traders make informed decisions and improve their trading skills. However, some traders may want more advanced or customized tools that are not provided by these brokers .
In conclusion, both MTrading and FX Choice are reputable and reliable forex brokers that offer different trading conditions and services. The best way to choose a forex broker is to try them out yourself and see which one suits your needs and expectations better. You can open a demo account with both brokers and test their platforms and features without risking any real money. You can also read reviews from other traders who have used these brokers and learn from their experiences.
