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FXChoice in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%60
- Round-turn cost20%90
- Safety20%10
- Payouts15%80
- Track record10%no data
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- FX Choice Ltd
- Founded
- 2010
- Retail leverage
- 200IN
- Round turn
- 7 USDIN
- Currencies
- USD, EUR, GBP, AUD, CAD. No INR.
- Swap-free account
- yes
Licence check
Open an account with FXChoiceThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- FX Choice Ltd
- Local standing
- Unregulated in IN; offshore forex with non-INR pairs restricted under FEMA. No specific SEBI/RBI alert on FXChoice found (not verified beyond absence).
- Licence as the register states it
- No SEBI/RBI licence; offshore Belize FSC only.
- Leverage for this entity
- Up to 1:200 (Classic/Pro); up to 1:1000 on Optimum.
- The firm behind it
- Founded 2010, Belize City; FX Choice Ltd, FSC Belize reg. (ex-IFSC/60/191/TS/19).
- What we hold against it
- Offshore Belize; not SEBI-regulated; Indian residents face FEMA/RBI legality risk; crypto funding curbed Dec 2023.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youUnregulated in IN; offshore forex with non-INR pairs restricted under FEMA. No specific SEBI/RBI alert on FXChoice found (not verified beyond absence).
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Classic, Pro, Optimum. Min USD 100 (Classic/Pro). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where FXChoice sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 7 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 100 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:200 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (4 methods · 1 local)
Cards, e-wallets, bank wire.
- Cards
- E-wallets
- Bank wire. No INR
- UPI local rails verifiedlocal
- Account currency
- USD, EUR, GBP, AUD, CAD. No INR.
- Fee declared
- 4 of 4 methods
- Withdrawal back to
- the funding method
Where it does not serve(24 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- MT4
- MT5
| Class | Min spread | Leverage |
|---|---|---|
| MT4 | 1.4 | 200IN |
| MT5 | 1.4 | 200IN |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.2 | 1,006 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(3 for and 3 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 74 of 90 brokers here that publish a time
- Swap-free account available
- Round-turn cost 90 of 100, its strongest of 6 scored axes
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 100 USD, over the India median 15
- Safety 10 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 7IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 1000IN
- Rank in this country
- #36
- Round turn, USD
- 9IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 400IN
- Rank in this country
- #29
- Round turn, USD
- 6IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #1
- Round turn, USD
- 7IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #30
- Round turn, USD
- 6IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #42
- Round turn, USD
- 4IN
- Rank in this country
- #4
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | FXChoice |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 60 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 80 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does FXChoice accept residents of India?
- No. Unregulated in IN; offshore forex with non-INR pairs restricted under FEMA. No specific SEBI/RBI alert on FXChoice found (not verified beyond absence). Onboarding entity: FX Choice Ltd
- Is FXChoice licensed to serve clients in India?
- No SEBI/RBI licence; offshore Belize FSC only. Checked on 09.07.2026.
- How much does one round turn cost at FXChoice?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does FXChoice offer to retail clients in India?
- Up to 1:200. Up to 1:200 (Classic/Pro); up to 1:1000 on Optimum.
- Which trading platforms does FXChoice support?
- MT4, MT5. Instruments: 40+ FX pairs, indices, 80+ stocks, metals, crypto CFDs.
- How can I withdraw money from FXChoice in India?
- Cards, e-wallets, bank wire. No INR/UPI local rails verified.
- What account types does FXChoice offer?
- Classic, Pro, Optimum. Min USD 100 (Classic/Pro).
- Does FXChoice offer a swap-free (Islamic) account?
- Yes. FXChoice offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.