Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from ForexChief review
About the broker
| Web: | https://forexchief.com |
| License: | VFSC |
| Supported languages: | English, Spanish, Portuguese and Hindi |
| Year of foundation: | 2014 |
| Holder: | ForexChief Ltd. |
| Headquarters: | 1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu |
| Methods of contacting customer support: | E-mail, phone, online chat |
| Contact: | info@forexchief.com, +65 3159 3652 |
| Deposit methods: | Bank transfer, VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney |
| Withdrawal methods: | Bank transfer, VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney |
About trading with ForexChief
| Minimum deposit: | 50 USD |
| Min. trade: | 0.01 |
| Spreads: | Look at the spread table - spread on the currency pair EUR/USD is 0.7 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (40), cryptocurrencies (5) |
| Base currencies: | USD,EUR,GBP,CHF,JPY |
| Mobile app: |  |
| MetaTrader 4: | |
| Other trading platforms: | MetaTrader 5 |
| Social trading: |  |
Spreads & fees
Fees of most brokers change relatively often and unfortunately it is not in our possibilities to keep up-to-date information about fees at ForexChief, of course you can find current info on their website https://forexchief.com.
Spreads at ForexChief on standard account*
| EUR/USD | GBP/USD | USD/JPY | EUR/GBP | USD/CHF | EUR/JPY |
|---|---|---|---|---|---|
| 0.7 | 1.3 | 1.0 | 1.1 |
* Spread was taken 17.01.2020 at 21:28 from the web or trading platform of ForexChief.
Random reviews of competing CFD brokers: LegacyFX, Amana Capital, Home.Saxo and LMFX
Frequently Asked Questions
🧐 Is ForexChief a scam?
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. It will help you to determine if ForexChief is a scam or not.
🆓 How to open a free demo account?
Opening a demo account with ForexChief is very simple, just register on their website.
📱 Does ForexChief offer the best mobile app for trading?
ForexChief offers a mobile trading app and you can definitely start trading with it. It is very difficult and subjective to determine if they feature the best mobile platform. However, you are welcome to test it yourself.
We compared some reputable brokers and their mobile trading apps, check out the comparison and be saved from the hassle of testing the ForexChief mobile app.
We operate our website in full transparency, we recommend reliable brokers with an excellent reputation and we honestly admit to you that we receive commissions for that from these brokers. You can find the mentioned brokers in the table below with a clickable link to their site. You don't pay anything extra, you get a reliable business partner and you help us keep the website up and running. Thank you.
| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 | | 100 USD | 1.0 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Etoro. | In-house built platform | FCAASICCySec | etoro.comreview EUR/USD*: 1.0 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of XTB. | In-house built platform | FCA CySec | xtb.comreview EUR/USD*: 0.9 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of XTB. 74% of retail investor accounts lose money when trading CFDs with this provider |
 | | 100 USD | 0.8 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Plus500. | In-house built CFD platform | FCAASICCySec | plus500.comreview EUR/USD*: 0.8 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Plus500. 80% of retail investor accounts lose money when trading CFDs with this provider |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Comparing spreads, fees, trading platforms, regulations and reading dozens of user reviews of all popular FX and CFD brokers is very time-consuming for every trader. That is why we have done all this hard work for you so you could already only start trading with a company that features a quick modern trading platform, a large variety of assets and a quick customer service. From our comparisons, all these criteria are met by Etoro 51% of retail investor accounts lose money when trading CFDs with this provider - advertising partner.
That is why it is important to choose the right one. Choosing the right broker often stands between profit and loss. Don't you know how to choose? We have prepared an independent article for you, which will help you with your broker selection. You will get to know, what factors are important to watch out for when you are choosing a forex/CFD broker.
If you have any experience with ForexChief, please share it in the comments to help others to choose the suitable broker.
I am new to the market. I paid attention to this company because they offer cent accounts. I have tested many companies, but ForexChief has the best trading conditions on cent accounts.
0
I like the trading conditions in this company. Slippage incidents are rare. The support service is very good.
Not all offices are allowed to trade using trading advisors. And this one has!
I want to talk about them. Of course, I understand that not only they give normal conditions, there are probably more. But, since I already trade here, and in general I am satisfied, why not tell the society about it. That’s what I’m saying.
There are some good positive points to note about Forexchief. First is their trading spreads, it is very low on all assets. During the news releases, the spread does not widen. All three kinds of assets are available with one account; fx, crypto and commodities. Live customer support is available 24/7 and very helpful.
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Having used the ecn and the stp accounts, I can attest to the fact that the broker has generally tight spreads. The ECN account is usually at 0.1 to 0.5 pips on major and exotics pairs. Even with the tight spreads, the commission is also very small as it charges only $1 for trading up to $100k. With the generally low trading costs I got comfortable in a short time
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I assist my trade with an Expert Advisor or robot as some call it. I did this with two brokers in the past, which did not work properly. I think the EA was not compatible with their platform settings or conditions. I use Mt4, so a broker that offers this platform is what I can use. I am happy now that it works well with Forexchief; no issues at all. I noticed the execution speed is two times faster and there is no slippage; maybe this is why I am recording more profit. I hope things remain the same, even better.
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I see very good and lucrative assets, including stock indices. Leverage maximum is 1:1000, very flexible too. With this broker, I stopped worrying about leverage as I get enough of it. This is an advantage for me. Spreads are low, execution of order is fast. I don’t really need much from a broker, consistency in good service is key
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I trade with an ECN account from Forexchief. The spread is flexible and very tight; makes it easy to take more profit. The execution is good, no requite, no slippage. Just what I need at the moment. Thank you Forexchief.
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Hard to find a broker like this that makes trading easy for us. Anyway, I have taken withdrawal from Forexchief a couple of times. They sent my money quickly. I have had experience with other brokers when I tried to withdraw large amounts. Some of them ask for more documents, but Forexchief doesn’t. As long as I am withdrawing back to the same payment method, they don’t bother me.
0