ForexChief review

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this review we compared ForexChief with competition based on ⏩ fees, spreads, offer of trading assets and experience of traders.


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
Readers' rating4 Votes
81
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: Yes
MetaTrader 4:Yes
Other trading platforms:MetaTrader 5
Social trading:No

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/USDGBP/USDUSD/JPYEUR/GBPUSD/CHFEUR/JPY
0.71.31.01.1

* 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

Leave A Review
Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
94
Spread and fees
93
Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
92
Customer support speed, availability, availability in the language you speak
89
Based on 48
93
Average rating from reader reviews

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.

Is this an ad?

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.

BrokerEnglishMin. depositSpread EUR/USD*PlatformsLicense
Readers' rating750 Votes
83
100 USD 1.0 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of Etoro.
In-house built platform FCAASICCySecetoro.comreview  EUR/USD*: 1.0 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of Etoro.
51% of retail investor accounts lose money when trading CFDs with this provider
Readers' rating774 Votes
86
0 0.9 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of XTB.
In-house built platformFCA CySecxtb.comreview EUR/USD*: 0.9 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of XTB.
77% of retail investor accounts lose money when trading CFDs with this provider
Readers' rating481 Votes
79
100 USD 0.8 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of Plus500.
In-house built CFD platformFCAASICCySecplus500.comreview EUR/USD*: 0.8 pips
Spread was taken 04.10.2024 at 11:12 from the web or trading platform of Plus500.
82% 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.

Selecting an unsuitable broker can put even a great trader at a loss.

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.

ForexChief review & user ratings

Forum, opinions and user reviews

  1. freeman says:
    75.8
    very impressed first timw user

    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.

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    67
    Spread and fees
    56
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    85
    Customer support speed, availability, availability in the language you speak
    95
    0
    0
  2. freeman says:

    I like the trading conditions in this company. Slippage incidents are rare. The support service is very good.

  3. Anonymous says:

    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.

  4. Steven Meiden says:
    97.5
    Very much Recommended

    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.

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    98
    Spread and fees
    97
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    97
    Customer support speed, availability, availability in the language you speak
    98
    0
    0
  5. Delilah Oshea says:
    97.5
    Very tight spread broker

    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

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    98
    Spread and fees
    98
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    97
    Customer support speed, availability, availability in the language you speak
    97
    0
    0
  6. Felix O' Zark says:
    97
    Very good broker for Expert Advisor

    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.

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    97
    Spread and fees
    97
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    97
    Customer support speed, availability, availability in the language you speak
    97
    0
    0
  7. O'Connel Mark says:
    90
    Consistency in good service

    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

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    100
    Spread and fees
    99
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    81
    Customer support speed, availability, availability in the language you speak
    80
    0
    0
  8. Shedrach Ijel says:
    97.5

    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.

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    97
    Spread and fees
    98
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    97
    Customer support speed, availability, availability in the language you speak
    98
    0
    0
  9. Roberts Adonis says:
    97.8
    Easy to withdraw profit

    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.

    Breakdown
    Leave A Review

    Reliability and reputation are deposits and withdrawals without a problem, does the broker scam people?
    98
    Spread and fees
    98
    Trading platform, offer of trading assets speed, reliability, functions and user-friendly environment
    98
    Customer support speed, availability, availability in the language you speak
    97
    0
    0

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