Exness Review
FXChoice Fees and Spreads
FXChoice spreads start from the average spread of 0.0 pips EUR/USD, and the commission depends on the trading account the trader is using. FXChoice is considered low-risk, with an overall rating of 7 out of 10. FXChoice offers 2 different retail investor accounts and demo and Islamic accounts.
- Lesche Duvenage
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Fees and Spreads Overview
Additional Trading Fees
Broker Fees
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.1/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXChoice Fees and Spreads – 6 key points quick overview:
Fees and Spreads
👉 The spread list for FXChoice starts from 0.0 pips on major instruments.
👉 FXChoice charges variable spreads which will change according to the financial instrument, account used, and the overall market conditions when Botswanans trade. The typical spreads according to the account types are as follows:
➡️ MT4 Classic Account – 0.5 pips EUR/USD
➡️ MT4/5 Pro Account – 0.0 pips EUR/USD
👉 In addition, the spreads on other instruments are:
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 36 | 1:200 |
| ➡️ Cryptocurrency | 3 | 1:33 |
| ➡️ Commodities | 6 | 1:200 |
| ➡️ Indices | 6 | 1:50 |
| ➡️ Shares | 50+ | 1:5 |
Additional Trading Fees
Commissions
👉 There are charges associated with FXChoice’s Pro MT4/5 Account. For 100,000 exchanged units, the typical fee is $3.5 per side (standard lot).
👉 Use of the FXChoice Pips+ Loyalty Program is available to users of the Classic Account and the Pro Account. A trader with a Classic Account will get a greater spread refund as they execute more transactions. Subsequently, the commissions are reduced on the Pro Account due to the rebates.
Overnight Fees, Rollovers, or Swaps
👉 Based on the financial instrument exchanged and held open after markets close, FXChoice has accurate swap fees. Botswanans should budget for the following daily overnight fees:
| 🔨 Instrument | 💰 Swap Long | 📈 Swap Short |
| ➡️ EUR/USD | -9.5655 pips | 4.028 pips |
| ➡️ ETH/USD | -19.95 pips | 5.7 pips |
| ➡️ LTC/USD | -8.48 pips | 2.444 pips |
| ➡️ XAG/USD | -0.945 pips | 0.067925 pips |
| ➡️ XAU/USD | -2.05538 pips | 0.690015 pips |
| ➡️ WTI | 0.086735 pips | -0.305865 pips |
| ➡️ Brent | 0.260205 pips | -0.497595 pips |
| ➡️ Shares (AAPL_us) | -0.88784 pips | -0.483556 pips |
👉 Muslim traders have the chance to convert their live trading account into a Swap-Free Islamic option using the FXChoice platform. This frees them from paying overnight costs and provides halal trading circumstances for those who adhere to sharia law.
👉 FXChoice does not provide spread betting services to Botswanan traders. Therefore, Botswanans need not worry about spread betting fees.
Broker Fees
Deposit and Withdrawal Fees
👉 Botswanans must note that FXChoice charges both deposit fees and withdrawal fees on these payment methods:
| 💳 Payment Method | 💵 Deposit Fee | 💳 Withdrawal Fee |
| Crypto Payments | 0.5% | Fees charged but not indicated on the website |
| Visa | Service fee | Service fee |
| Mastercard | Service fee | Service fee |
| Skrill | Service fee | 1% |
| Neteller | Service fee | None |
| Perfect Money | • 0.5% for a verified account • 1.99% for an unverified account | 0.5% |
| AstroPay | None | 2 USD |
| Poli | Service Fee | – |
| PayRedeem | 3.99% + 0.99 EUR or USD | 3.99% |
| Sticpay | Service Fee | None |
| Payop | Fees charged but not indicated on the website | None |
| ADVCash | None | 0.5% |
| PromptPay | 2.5% | 1.25% |
| FasaPay | 0.5% | 0.5% |
Inactivity Fees
👉 FXChoice does not charge inactivity fees.
Currency Conversion Fees
👉 Currency conversion fees are broker fees when traders make deposits/withdrawals in currencies that differ from the account base currency. Botswanans will face these fees when they deposit/withdraw funds in BWP.
FXChoice Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXChoice offers some commission-free options | FXChoice is not currently overseen by strict market regulators such as FCA, ASIC, FSCA, or others |
| Muslim traders can convert their live account with FXChoice into an Islamic Account | The educational section is limited |
| FXChoice offers a maximum of 20 demo accounts that can be opened | There is a lack of comprehensive market analysis |
| FXChoice has a superior customer support | |
| Botswanans can use any trading style and strategy, including hedging, EAs, and scalping | |
| Botswanans can deposit and withdraw in BWP using local and flexible options | |
| Eligible Botswanan traders have access to VPS | |
| FXChoice offers user-friendly solutions to all traders |
Verdict on FXChoice
👉 Overall, FXChoice is very competitive in terms of its trading fees and spreads.
FAQ
What spreads do FXChoice charge?
FXChoice charges variable spreads that start from 0.0 pips on major instruments such as EUR/USD and other major instruments.
How much will I pay when I deposit funds into my FXChoice account?
You can expect deposit fees from 0.5% when you make a deposit.
Does FXChoice have a BWP account?
No, FXChoice does not offer a trading account denominated in Botswanan Pula.
What are the commissions charged by FXChoice?
The typical commissions are 3.5 USD.
Does FXChoice charge overnight fees on open positions?
Swap fees will apply when you keep your positions open for longer than 24 hours. These will be debited or credited according to your position (buy or sell/long or short).
