* "I am studying English twice a week" uses the present continuous tense, emphasizing an ongoing action. This suggests you are currently in the process of studying English and that it's happening regularly.
* "I study English twice a week" uses the present simple tense, indicating a habitual action. This implies that you regularly study English twice a week, but it doesn't necessarily mean you are studying at this very moment.
So, which one is best depends on the specific context and what you want to emphasize.