Compare SimpleFX vs FX Choice
What is SimpleFX? What is FX Choice?
SimpleFX is an online forex broker that was established in 2014 and offers trading in various assets, such as forex, crypto, stocks, indices, commodities, and more. SimpleFX claims to provide competitive and superior service with no minimum deposits, no commissions, and flexible leverage up to 1:1000.
FX Choice is an online forex broker that was established in 2010 and offers trading in forex, crypto, indices, commodities, metals, energies, futures, ETFs, options, and more. FX Choice claims to provide reliable trading environment with low spreads, fast execution, and various deposit and withdrawal methods.
SimpleFX vs FX Choice Regulation Comparison
SimpleFX is not regulated by any reputable authority. This means that there is no guarantee that SimpleFX follows the rules and standards of any regulatory body. This also means that there is no protection or compensation scheme for the clients in case of any dispute or insolvency.
FX Choice is regulated by the International Financial Services Commission (IFSC) of Belize. This means that FX Choice has to comply with the regulations and requirements of the IFSC, such as maintaining adequate capital, segregating client funds, submitting regular reports, and adhering to a code of conduct. However, the IFSC is not considered a very strict or reputable regulator compared to other authorities such as the FCA or CySEC.
SimpleFX vs FX Choice Trading Assets Comparison
SimpleFX offers trading in 36 forex pairs, 15 crypto pairs, 11 indices, 6 commodities, 2 metals, and over 2000 stocks. This gives traders a wide range of choices and opportunities to diversify their portfolio and trade various markets.
FX Choice offers trading in 38 forex pairs, 5 crypto pairs, 13 indices, 4 commodities, 5 metals, 3 energies, 2 futures, 12 ETFs, 23 options, 2 agriculture products, 2 bonds, and over 150 stocks. This also gives traders a wide range of choices and opportunities to diversify their portfolio and trade various markets.
SimpleFX vs FX Choice Trading Fees Comparison
SimpleFX charges variable spreads on its trading assets, which can vary depending on market conditions and liquidity. SimpleFX does not charge any commissions on its trades. SimpleFX also does not charge any deposit or withdrawal fees on most of its payment methods. However, SimpleFX does charge swaps or overnight fees for holding positions overnight.
FX Choice also charges variable spreads on its trading assets, which can vary depending on market conditions and liquidity. However, FX Choice also charges commissions on some of its account types and trading assets. For example, FX Choice charges $3.5 per lot per side on its Pro account type and $4.5 per lot per side on its crypto trades. FX Choice also charges swaps or overnight fees for holding positions overnight. However, FX Choice does not charge any deposit or withdrawal fees on most of its payment methods.
SimpleFX vs FX Choice Account Types Comparison
SimpleFX offers only one account type for all its clients. This account type has no minimum deposit requirement, no commissions charged, variable spreads starting from 0.1 pips on forex pairs and leverage up to 1:500 on most trading assets. This account type also supports various base currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, PLN, NOK, SEK, DKK, CZK, RUB, SGD, HKD, TRY, ZAR, CLP, MXN, BTC, LTC, DASH, ETH, XMR, BCH, ZEC, ETC, USDT, DOGE, TRX, USDC, DAI, EOS.IO and BNB.
FX Choice offers three account types for its clients. These are:
- Classic account: This account type has a minimum deposit requirement of $100, no commissions charged, variable spreads starting from 1.2 pips on forex pairs, and leverage up to 1:2000 on most trading assets. This account type also supports various base currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, PLN, RUB, BTC, ETH and USDT.
- Pro account: This account type has a minimum deposit requirement of $100, commissions charged at $3.5 per lot per side, variable spreads starting from 0 pips on forex pairs, and leverage up to 1:200 on most trading assets. This account type also supports various base currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, PLN, RUB, BTC, ETH and USDT.
- Optimum account: This account type has a minimum deposit requirement of $10, no commissions charged, variable spreads starting from 0.6 pips on forex pairs, and leverage up to 1:1000 on most trading assets. This account type also supports various base currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, PLN, RUB, BTC, ETH and USDT.
SimpleFX vs FX Choice Deposit Options Comparison
SimpleFX offers a variety of deposit and withdrawal options for its clients. These include:
- Skrill: Minimum deposit and withdrawal amount of $10
- Neteller: Minimum deposit and withdrawal amount of $10
- FasaPay: Minimum deposit and withdrawal amount of $10
- Crypto: No minimum deposit and withdrawal amount
- Litecoin: No minimum deposit and withdrawal amount
- Dash: No minimum deposit and withdrawal amount
- Ethereum: No minimum deposit and withdrawal amount
- Monero: No minimum deposit and withdrawal amount
- Crypto Cash: No minimum deposit and withdrawal amount
- Zcash: No minimum deposit and withdrawal amount
- Ethereum Classic: No minimum deposit and withdrawal amount
- Tether (USDT): No minimum deposit and withdrawal amount
- Dogecoin: No minimum deposit and withdrawal amount
- Tron: No minimum deposit and withdrawal amount
- USD Coin (USDC): No minimum deposit and withdrawal amount
- Dai (DAI): No minimum deposit and withdrawal amount
- EOS.IO: No minimum deposit and withdrawal amount
- Binance Coin: No minimum deposit and withdrawal amount
FX Choice also offers a variety of deposit and withdrawal options for its clients. These include:
- WebMoney: Minimum deposit and withdrawal amount of $50
- Skrill: Minimum deposit and withdrawal amount of $50
- Wire transfer: Minimum deposit and withdrawal amount of $1000
- Credit/debit cards: Minimum deposit and withdrawal amount of $100
- YooMoney: Minimum deposit and withdrawal amount of $50
- Neteller: Minimum deposit and withdrawal amount of $50
- UnionPay: Minimum deposit and withdrawal amount of $50
- QIWI: Minimum deposit and withdrawal amount of $50
- Perfect Money: Minimum deposit and withdrawal amount of $50
- DIXIPAY: Minimum deposit and withdrawal amount of $50
- FasaPay: Minimum deposit and withdrawal amount of $50
- Crypto: No minimum deposit and withdrawal amount
- Ethereum: No minimum deposit and withdrawal amount
- Tether (USDT): No minimum deposit and withdrawal amount
SimpleFX vs FX Choice Trading Platforms Comparison
SimpleFX offers only one trading platform for its clients. This is:
- MetaTrader 4 (MT4): This is the most popular trading platform in the world that offers a user-friendly interface, advanced charting tools, technical indicators, automated trading systems, market news, economic calendar, and more.
FX Choice offers three trading platforms for its clients. These are:
- MetaTrader 4 (MT4): This is the same platform as offered by SimpleFX.
- MetaTrader 5 (MT5): This is the newer version of MT4 that offers more features and functionalities than MT4, such as more timeframes, more order types, more technical indicators, more analytical tools, more market depth information, more trading instruments, an integrated economic calendar, a built-in market news service, a strategy tester for backtesting trading systems, an MQL5 community for sharing trading ideas and signals, and more.
- cTrader: This is a web-based trading platform that offers a sleek design, fast execution speed, level II pricing data, advanced order management, multiple chart types, technical analysis tools, automated trading via cAlgo, market sentiment indicators, and more.
SimpleFX vs FX Choice Analytical Tools Comparison
Both brokers offer various indicators and functions on their MT4 platforms that can help traders perform technical analysis and make informed trading decisions. Some of the common indicators and functions include moving average, Bollinger bands, Fibonacci retracement, trend lines, channels, support and resistance levels, oscillators, volume indicators, and more. FX Choice also offers additional analytical tools on its MT5 and cTrader platforms that can enhance the trading experience.
Some of these tools include more timeframes, more order types, more technical indicators, more analytical tools, more market depth information, more trading instruments, an integrated economic calendar, a built-in market news service, a strategy tester for backtesting trading systems, an MQL5 community for sharing trading ideas and signals, level II pricing data, advanced order management, multiple chart types, automated trading via cAlgo, market sentiment indicators, and more.
SimpleFX vs FX Choice. Which forex broker is better? Which forex broker should you choose?
The best forex broker for you depends on your personal preferences, trading style, goals and needs. You can do more research, read reviews, try a demo account or even open a live account with both brokers to see which broker meets your expectations and requirements.
