- Company name: FXChoice Ltd.
- Registration/license: Belize
- Registration/license requirement: USD 5,000
Is FXChoice a regulated forex broker or a scam?
no, FXChoice broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
FXChoice is a broker that offers Forex and CFD trading. It is own and regulated by the FXChoice Ltd. – offshore company, based in Belize and regulated by the local International Financial Services Commission (IFSC).
Belize is a popular offshore destination, where the licensing requirements are not that strict compared to other more serious jurisdictions (such as UK’s FCA or ASIC in Australia).
The minimum capital requirement for forex brokers is USD 100,000. Besides, the license fee costs only USD 5,000.
We generally recommend investors and traders to avoid offshore companies and to invest with brokers regulated by reliable authorities such as UK’s FCA, or Australia’s ASIC, for example.
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