MyFXChoice offers amazing bonuses for its new traders
MyFXChoice is a CFD broker that provides access to trading Forex pairs, Indices, commodities and shares as CFDs. There are a full set of MetaTrader platforms to choose from. In addition, traders can use mobile and web trading terminals. The broker is authorized by the Financial Services Commission of Belize (FSC). The broker makes sure that its clients’ funds are safe in segregated accounts.
The broker recently offers MyFXChoice deposit and no deposit bonus promotions. On deposits made by crypto, there is a 65% welcome bonus, which is very generous.
In case you do not have a crypto account, you can make a regular deposit using your card, online wallet or bank account. However, the bonus is 50% this way.
In order to get the bonus, traders need to register with the broker. Open a live trading account and deposit funds. The registration and account opening process is highly intuitive, and the experience is user-friendly. The website is available in seven languages and the customer support is available 24/5 on business days.
Available account currencies are: USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, Litecoin,
Bitcoin Cash, Ethereum, XRP, DOGE and USDC. Keep in mind that it’s best to use the currency that you use daily to save on conversion costs. And the minimum initial deposit requirement is only 10 USD.
The funding methods include: cryptocurrency, Visa, MasterCard, Airtm, Skrill, Neteller, Perfect Money, PaySafeCard, Astropay, Poli, Payredeem, Sticpay, Payop, Advcash, Promptpay, Epay, and Fasapay.
MyFXChoice offers a reliable trading environment. The leverage is up to 1000:1 and there are multiple accounts to choose from. The broker offers:
- Classic Account
- Optimum Account
- Pro Account
Each account type has its own strengths and weaknesses. And therefore, decisions should be made based on your trading style.
Classic account offers 0.5 pips spread markups and 0 commissions. The spread markup simply means that each time a trader opens an order, the broker automatically charges 0.5 pips as trading fees. In a live environment, spreads can be larger due to liquidity. Spread is the difference between bid and ask price. In low liquidity, spreads widen and traders get large trading fees. To counter this, it’s recommended to trade liquid instruments such as major currency pairs and trade during the most active hours (During London and New York trading sessions). There are 36 currency pairs, Indices, Metals & Energies, Crypto, and Shares as CFDs available for trading. You will need at least 100 USD to open the account. The account type is for novice and position traders. Available leverage for this account is up to 200:1.
Optimum account is for traders that are short in funds or simply wish to test their trading skills and strategies in a live environment using small deposits. The minimum initial deposit is only 10 USD. Leverage is up to 1000:1. However, keep in mind that high leverage is not always good. Most beginner traders lose their account balance because they pick high leverage, place oversized orders and get stopped out. As for the trading fees, there are no commissions for this account either, but the spread markups start from 1.5 pips.
Pro account is for more seasoned traders. The minimum initial deposit is 100 USD. There are 0 spread markups, but the commissions are USD 3.5 per side for regular traders. For high-volume traders, the trading fees are even better, only 1.5 USD per lot per side traded.
The account also provides access to 36 currency pairs, Indices, Metals & Energies, Crypto, and Shares as CFDs. Keep in mind that leverage for this account is limited to 200:1.
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