fx choice
umarkets
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
fx choice was founded in 2016 and is headquartered in Australia, while umarkets was established in 2018 and is based in Bulgaria. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. fx choice serves 10,000+ clients worldwide; umarkets has 10,000+. Both brokers share the same minimum deposit of $250.
| Feature | fx choice | umarkets |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F235 | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F333 |
| Founded | 2016 | 2018 |
| Country | Australia | Bulgaria |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx choice and umarkets, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. umarkets charges withdrawal fees while fx choice does not, giving fx choice an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. The two brokers are broadly comparable on fee structure.
| Feature | fx choice | umarkets |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fx choice offers MT4, MT5, cTrader, while umarkets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | fx choice | umarkets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fx choice and umarkets compare. fx choice runs regular live webinars; umarkets does not. Both provide video tutorials. fx choice publishes daily market commentary; umarkets does not. Both integrate third-party research tools. fx choice maintains an archive of past webinars for on-demand viewing. fx choice scores higher overall in education and research.
| Feature | fx choice | umarkets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fx choice accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while umarkets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | fx choice | umarkets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fx choice and umarkets offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | fx choice | umarkets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |