Advantages: No slippages
Disadvantages: no
Reliable forex platform! I have used it before and am quite happy with it. Customer support is good No slippages when trading different pairs. Everything is in perfect order.
xChief (former ForexChief) has existed since 2014, providing top-notch Forex and CFD trading services to millions of clients worldwide. This Broker is headquartered in Vanuatu, with additional offices...
xChief (former ForexChief) has existed since 2014, providing top-notch Forex and CFD trading services to millions of clients worldwide. This Broker is headquartered in Vanuatu, with additional offices in Indonesia and Nigeria. The company also an ASIC regulation, which makes it a dependable name.
xChief is a multi-asset online broker offering a whopping 100+ instruments. It uses the STP/NDD (straight-through processing/no dealing desk) model, ensuring no conflicts of interest between itself and its clients.
xChief is a global player in the forex market, giving equal opportunity to trades, no matter where they're from. For this reason, they accept traders from various countries, including Australia, Thailand, and the United Kingdom.
Additionally, traders from South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and many other countries around the world can trade on the platform.
And when it comes to their top trading countries, the Russian Federation leads the pack, followed by Tunisia. xChief also has a strong presence in Nigeria, Ukraine, Portugal, Belarus, and India, with each country representing a significant portion of its global trading community.
The list of restricted countries is rather short with only US and Canada in it. Traders from other countries can create accounts on xChief hassle-free.
xChief prides itself on always providing traders with the best possible experience. On Trustpilot, the platform has an excellent rating of 4.7 out of 5 stars from 175 satisfied customers.
Many of the users have praised the platform for its friendly and convenient features, making trading a breeze. Others have raved about xChief's top-notch customer service, available through multiple services. The platform also offers lightning-fast fund withdrawals and low spreads to make the trading experience as smooth and enjoyable as possible.
That said, there are some negative remarks, mostly around limited deposit methods, which may be partly due to location. On Sitejabber, the platform has an impressive rating of 4.75 stars from 16 reviews, proving that it is committed to providing traders with the best possible service.
xChief is committed to providing its clients with the best possible trading experience, including offering a wide range of industry-recognized platforms for desktop and mobile devices. Here is what they offer:
ForexChief offers a variety of base currencies for trading. Depending on your account type, you may have access to currencies such as USD, EUR, CHF, GBP, RUB, and JPY.
xChief is a brokerage firm established in 2014 with headquarters in Singapore. The company is regulated by the Vanuatu Financial Services Commission (VFSC) as a Dealer in Securities and is a member of the Financial Market Association.
With a primary focus on providing a secure trading environment for its customers, xChief strongly emphasizes the technical stability of its trading servers and software. The company offers a wide range of account types, which makes it accessible to investors from all over the world. This enables traders to choose an account denomination that is most convenient for them.
xChief aims to provide quality and affordable forex services by leveraging modern technologies in online trading. It offers customers competitive pricing, fast execution speeds, and reliable customer support.
xChief is headquartered in Singapore. The company is registered under ForexChief Ltd. and has a registration number of 14777. The Vanuatu Financial Services Commission (VFSC) licenses the firm as a Dealer in Securities, a principal's license.
In addition, the broker also has a tier 1 regulation by ASIC, which means that the company is compliant with the high standards of service ASIC upholds. A tier 1 regulation adds a lot of trust and legitimacy to the broker’s name.
A major factor in choosing a forex broker is to consider the safety and security of your funds. xChief is a broker that takes client fund segregation and protection against technical faults. This means your funds are kept separate from the company's operating funds, reducing the risk of misappropriation or fraud.
However, it's important to note that because xChief is not licensed by a major tier-one regulatory body, it may be more difficult to gain access to compensation through companies not licensed within your local jurisdiction. It needs to be clarified what level of compensation is available, and each case should be reviewed separately.
xChief offers excellent customer support services to its clients. Traders can get help from the support team around the clock, from Monday to Friday. This makes it easy for clients to contact the support team whenever they need assistance. Besides the availability of the support, another thing that stands out in xChief support is the fact that it is available in 16 languages.
xChief's customer support has multiple contact options. Traders can contact the support team through various messengers such as Facebook, Viber, Skype, Whatsapp, and Telegram. This flexibility ensures that clients can use their preferred method of communication.
Another notable aspect of xChief's customer support is its multi-language support. The support team is proficient in several languages, including English, Chinese, Indonesian, Malay, and Russian.
xChief offers various trading services, including Forex, Gold & Silver, CFD, Oil, Metals, Energies, and Crypto. The trading terms are extremely beneficial. You can start trading with a volume as low as 0.01 lots; the minimum deposit is only $10. The spreads are also from 0 pips, making it easier for you to maximize your profits.
xChief operates within standard office hours, but trading is available 24/5, except for certain instruments whose trading hours vary. Additionally, this Broker offers a swap-free trading account. This type of Account is especially popular among Muslim traders who follow the principles of Islamic finance.
xChief offers a maximum leverage of 1:1000 on all its account types, which is quite high compared to other brokers in the market. However, it's worth mentioning that xChief is not regulated by a European Union authority, which means it does not comply with the ESMA leverage capping. This may not suit traders who prefer to work with brokers that follow stricter regulatory guidelines.
That being said, xChief does offer varying leverage rates and margin requirements depending on the trading instrument and account currency. Traders can check the specifics for each instrument on the company's website.
When depositing funds into a xChief trading account, the Broker does not charge any fees, except for certain electronic payment methods, which may incur a charge. However, it is worth noting that third-party bank charges or exchange fees may still apply.
Deposit Options | Transfer Currencies | Transfer Time | Commissions and Fees |
Bank Transfer SEPA | EUR | 1-2 business days | 0% |
Local bank transfer | Local Currency | Up to 24 hours | 0% |
Credit/Debit card | USD, EUR, GBP | Instantly | 2% |
Crypto | BTC, ETH, LTC, BCH, DOGE, USDT, USDC, DAI | Up to 8 hours | 0% |
Skrill | USD, EUR | Instantly | 0% |
NETELLER | USD, EUR, GBP | Instantly | 0% |
Advanced Cash | USD, EUR, GBP, UAH, BRL | Instantly | 0% |
FasaPay | USD, IDR | Instantly | 0% |
WebMoney | USD | Instantly | 9% + 0.8% |
Perfect Money | USD, EUR | Instantly | 1.99% |
Regardless of the account type, xChief has a low minimum deposit requirement of just $10 or the equivalent in other currencies, making it accessible to traders of all levels.
When it comes to withdrawing funds from your xChief trading account, you should keep a few things in mind. Withdrawals must be returned to the original payment method you used to deposit funds.
While xChief doesn't charge any withdrawal fees, it's important to note that processing times and fees may vary depending on your chosen withdrawal method.
Withdrawal Options | Transfer Currencies | Commissions and Fees | Transfer Time |
Bank Transfer SWIFT | EUR, GBP | 1% | 3-5 business days |
Bank Transfer SEPA | EUR | 0% | 2 business days |
Local Bank Transfer | Any currency | 0% | 2-7 business days |
Credit/Debit card | USD, EUR, GBP | 2%, | 2-7 business days |
Crypto | BTC, ETH, LTC, BCH, USDT, USDC, DAI | Depending on the network | 1 business day |
Skrill | USD, EUR | 1% | 1 business day |
NETELLER | USD, EUR, GBP | 1.9% | 1 business day |
Advanced Cash | USD, EUR, GBP, UAH, BRL | 1% | 1 business day |
WebMoney | USD | 0.8% | 1 business day |
Perfect Money | USD, EUR | 0.5% | 1 business day |
FasaPay | USD, IDR | 0.5% | 1 business day |
In some cases, personal detail verification may be required when using certain withdrawal methods such as credit/debit cards and bank transfers. This is just a standard security measure to ensure your funds are transferred securely and to the correct Account.
xChief provides a decent amount of useful information about trading. The Broker's website features a Library section that offers a wide range of resources for traders to explore. Here's what you can find:
xChief is a competitive forex and CFD broker that provides a wide range of trading instruments and multiple account types. Although not regulated by a tier-one regulatory body, the broker offers a reliable trading environment and competitive trading conditions.
In addition, xChief's customer support is readily available through multiple contact options, and the Broker provides a Library section on its website where traders can find useful information on trading.
See our process of evaluating brokers
Overall score 4.8 / 5 · 106 customer reviews
Read real reviews from traders all over the world:
Advantages: No slippages
Disadvantages: no
Reliable forex platform! I have used it before and am quite happy with it. Customer support is good No slippages when trading different pairs. Everything is in perfect order.
Advantages: Stable trading terminal
Disadvantages: I would like more ways to deposit/withdraw
I am very impressed with xchief, especially how they have handled the volume of my trades. I find the platform to be extremely stable. There is regular maintenance of server to keep the speed of execution same as always. Trading conditions are still okay, but the server is one of the most advantages of using this broker.
Advantages: Fast withdrawal. Fast Orders
Disadvantages: not available
I recently sent a withdrawal request of $300 from my account, and it was sent to me in 12 hours. This was faster than expected. This was just a test and Forexchief passed with ease. Now I can focus on trading and making profit without having to worry about my money. I trust this broker because they made everything so easy. They also provide one of the best spreads so far.
Advantages: Fast customer services. Fast withdrawal. Enough Trade Assets
Disadvantages: n/a
I am an independent trader for 12 years; I have seen a few highly professional brokers. Forexchief ranks as one of the best in terms of trading conditions and responsiveness to queries. The platform executes orders quickly and I’ve never experienced bad slippages in all my executions. I have been fortunate to work with this broker for over 2 years now. It has been a fruitful one.
Advantages: ECN account. Low Spreads. Free Bonus. Fast Withdraw
Disadvantages: not to my knowledge
Forexchief provides real ECN accounts with flexible and low spreads. Since I have been using the broker, they’ve never charged me any unnecessary fee, all fees are clearly written on their account. The broker does not care about your losses, as they do not profit from it. They offer bonuses and even credit facilities to help hold off trades to avoid margin call. This is the only broker I know that does it
Advantages: Real ECN account. No Slippage. Fast Orders
Disadvantages: No paypal
Forexchief provides real ECN accounts with flexible and low spreads. Since I have been using the broker, they’ve never charged me any unnecessary fee, all fees are clearly written on their account. The broker does not care about your losses, as they do not profit from it. They offer bonuses and even credit facilities to help hold off trades to avoid margin call. This is the only broker I know that does it.
Advantages: Low spreads, Low commission, Mt4/mt5
Disadvantages: not yet
I have never seen a broker with such fantastic spreads and a great customer support team. Their platform gives quick execution via mt4 and commission is low enough for me. I pay very low spread, it is flexible, but doesn’t widen. My requirement while searching for a broker has been met by Forexchief. So I’ll continue using this broker, until something changes.
Advantages: Crypto trading, Fast Orders, Fast Withdrawals.
Disadvantages: need more crypto assets
The main reasons I chose them is for the wide range of assets the offer - it's great to have access to crypto and stocks on the same account. Also it's good to be able to hold your trading balance in BTC for long term growth. Would be great if they could also add some of the newer crypto coins too.
Advantages: Tight Spreads. Fast orders
Disadvantages: Only Metatrader platform
A broker with low spread and commission is hard to see these days. There are always some hidden charges somewhere in between. I have been trading with Forexchief for a while now, and I have logged any charges that I do not already know about. The point is that, the broker has low spread and commission and that’s it. I don’t need to pay anything further. The spreads for the major pairs and the crosses are also very tight; with the GBPUSD, and GBPCHF being my best pairs so far. Low-cost trading is usually the priority for me because it makes me make my money in full without charging hidden or extra unnecessary charges
Advantages: Fast withdrawal. Low spread, high leverage. Easy
Disadvantages: none
I took me almost a month to find a broker like Forexchief. I got various recommendations on forex forums, this broker was one of them. I decided to use Forexchief because they seem easy to register, deposit and trade. Then the commission and spreads are superb. Withdrawals are fast, but at worst I had to wait about 23 hours. This is not bad considering some brokers take more than 2 days. I use mt5 with very fast servers. I recommend this broker
Advantages: Very fast payment. Easy to trade and make profit
Disadvantages: none
I made my first withdrawal with Forexchief on the 25th of March this year and it was fast; sent to me within 8 hours. I have been trading for three months with good conditions and fast orders. It is very easy with this broker. Thanks
Advantages: 1;1000 leverage; fast orders; fast withdrawal
Disadvantages: no office in my country yet
First of all, it is best to choose a broker that does not trade against you. Forexchief mode of operation is the best because they only benefit from the commissions, so it does not matter whether you win or lose. I prefer this kind of broker as there is no conflict of interest. Another aspect I like is their spreads, it is low and flexible. Leverage offered is up to 1:1000. There is no better condition at this time, so I stick with this broker
Advantages: Mt4/Mt5, fast withdrawal
Disadvantages: not yet
For three months I have been trading with Forexchief. The services and support are excellent, withdrawal is usually fast, and the tools for proper trade analysis are available. No complaints. It's possible to chat with support on their site, they helped me quite fast to settle investor passwords and put me on the right track.
Advantages: Low Spreads, Multiple platform, fast withdrawal
Disadvantages: Nada
I am a trader who deals on gold and silver; forexchief offers good spread for these assets. I don’t have any issues on the mt5 platform so far, no slippage and requite. The spread starts from 0.02 for silver and 0.25 for gold sometimes. I have been able to withdraw my profits without issues. It is good to have a broker that works for you.
Advantages: Excellent customer service, Fast withdrawal
Disadvantages: No rating
Offers some similar features with other brokers, but one thing that stands out with this broker is their customer care. They have excellent support. The execution is perfect, no market manipulation. Then when it comes to deposit and withdrawal, I haven't experienced any issues. It is okay to try them out.
Advantages: Fast Chat, Mt5, Fast withdrawal
Disadvantages: Not enough time to tell
Happy to trade with such a diligent broker. They are fast in everything. I have been using Forexchief for over a year, without any problems. They have a live chat and I am able to get through any time; problems are solved instantly. Today I placed a withdrawal of $450, it was received in less than a day. Hopefully I will continue to enjoy good services.
Advantages: Wide Range of Stock Assets. Fast Withdrawal, High leverage
Disadvantages: Insignificant
I am a big time stock trader; there are a few stock brokers I could have used, but I chose to trade the stocks available on Forexchief platform because the condition is far better. I get 1:100 leverage on stocks. Faster execution and withdrawal of profit.
Advantages: Fast Orders, fast payment system. Wide asset range
Disadvantages: paypal not available
I came to know about Forexchief a year back after the covid19 outbreak. The effect pushed me to stay at home and consider trading Forex full time. I have been trading Forex for 6 years before I started using this broker. I needed a broker offering high leverage, and at the same has a good reputation. The reviews here were very good, that is why I started using the broker. I am glad I did. Very good broker, with fast services.
Advantages: 100$ no deposit bonus, fast withdrawal. Credit system
Disadvantages: No
I use this broker for 6 months. It offers great opportunity for new and old traders from my experience. My friend introduced me to Forexchief, he is a pro trader. I got $100 no deposit bonus when I opened my account. I used this money to make about $150 in profit, and it was easy to get. The spreads are low, and I get 1:1000 leverage. Highly recommended.
Advantages: 500% Bonus , Fast deposit and withdrawal, fast platform
Disadvantages: Not yet seen
The trading platform is mt4 and mt5. There is also a web trader from my personal dashboard. I’ve been trading with this broker for 6 months. I started with a small amount for testing purpose; was given a welcome bonus 500%. Spread on gold starts from 0.1 to 0.5 pips, one of the lowest I have seen. Also offers one of the highest leverage of 1:1000. If you are looking for a nice broker to kick start your Forex career, Forexchief is best.
Advantages: Flexible spreads, MT5, Fast orders, Fast withdrawal
Disadvantages: does not support paypal
This is the best platform I have used in a long time. Forexchief has mt4 and mt5; and I am using one EA on my MT5 platform, it is working without any issues. All orders are executed with speed and without slippage. Spreads are very tight here. As I am trading major fiat currencies, I have flexible spreads around 0.1 - 0.5 pips. However, as US time closes, spreads are even lower. This is the best option for me.
Advantages: ECN, Mt4/Mt5. Fast payment
Disadvantages: Nope
Forexchief is preferred by some of my colleagues because their spreads are really low. Not all brokers offer such low spreads, many people think it is not real. Well, from my experience with this broker, Forexchief is a real NDD/ECN broker. This can be seen from order execution style. It is safe to deposit and withdraw funds.
Advantages: Cryptocurrency trading. Mt4 and Mt5
Disadvantages: Nil
Forexchief offers traditional USD and EUR, at the same time it allows cryptocurrencies as base currencies. Before now, I was using only a USD base currency account but now I have a USD and a Crypto base currency account. Forexchief also allows one to choose between MT5 and mt4, you get to choose the one that works best for you in terms of comfort.
Advantages: Best Trade Features, Wide range of assets. Easy to withdraw profit
Disadvantages: Nothing to write
I have traded with two brokers previously, Forexchief stands out with interesting trading features. In terms of wide range available products, I don't need to look elsewhere. Spread offer is definitely one of the lowest. Exactly what I need. I have multiple accounts and use a lot of copy trading and EAs which works great. The demo account does not expire as long as you continue to use it. I can live with that although eventually I may need more as I test and grow in various strategies.
Advantages: Mt4 and Mt5. fast support, fast withdrawal
Disadvantages: not at the moment
I love the way the broker treats us traders. And the process of deal execution here is comparatively fast. Moreover, there are some instruments for those traders who are fond of short-term trading and are passionate about technical analysis.
Advantages: Low pricing, quick orders.
Disadvantages: nil
Forexchief has great pricing and trading conditions, and i often receive positive slippage on limit orders. Never had issues with withdrawals, and their customer service is absolutely great. 10/10 would recommend.
xChief offers a range of trading accounts to suit the needs of different traders. They provide their clients with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, each with different features and benefits.
For MT4 users, xChief offers several account types, including MT4.DirectFX, MT4.Classic+, pamm-MT4.DirectFX, and pamm-MT4.Classic+. These accounts also have varying minimum deposit amounts, account currency options, and spreads:
All MT5 accounts offer market execution orders, hedging or netting, and a 30% stop-out call, with a minimum order size of 0.01 lots, maximum leverage of 1:400, and maximum order size of 100 lots.
Tradable instruments on ForexChief trading platforms include:
Find the right answer to your question below.
xChief is a brokerage company that offers a wide range of trading instruments, account types, and beneficial trading terms. However, some traders may have concerns about the company's lack of regulation by a major tier-one regulatory body. As earlier mentioned, xChief is regulated by the Vanuatu Financial Services Commission (VFSC) as a Dealer in Securities. Still, this regulation is less reputable and robust than the protection offered by bodies like the FCA. While xChief complies with client fund segregation and protection against technical faults, compensation levels are unclear. In the end, traders must weigh the risks and benefits before trading with xChief.
Opening a trading account with xChief is a relatively straightforward process. Here are the steps to follow: Go to the xChief website and click on the "Registration" button in the homepage's top right corner. Fill out the registration form with your personal information, including your name, email address, and phone number. Agree to the terms and conditions, and complete the registration process. Verify your identity by providing a copy of your passport or national ID and proof of residence. Fund your Account by selecting one of the available payment options and depositing. Download and install the trading platform, and start trading.
To see the full broker review click “See review”, to see the complete comparison visit the comparison page.
| Highlights |
|
| — |
|
| Overall verdict | 3.9 / 5 | 4.6 / 5 | 4.5 / 5 | 4.3 / 5 |
| Minimum deposit | — | $100 | 0 | $100 |
| Maximum leverage | — | 1:50 | 1:50 | 1:400 |
| Withdrawal fee | — | $0 | — | $0 |
| Deposit fee | — | $0 | — | $0 |
| Safety | 4.6 / 5 | 5 / 5 | 4.5 / 5 | 4.8 / 5 |
| Top-tier regulators | VFSC | FCA, CFTC, NFA, CIRO, CIMA, CySEC | CFTC, NFA | ASIC, CBI |
| Investor protection | Yes | Yes | Yes | Yes |