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 01.11.2024 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 01.11.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 01.11.2024 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 01.11.2024 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 01.11.2024 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 01.11.2024 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.
One of the reasons why I am comfortable with Forexchief is that it is a commission based broker. For this reason, they do not frown when I make money. I would advise new traders to stay away for market makers, since they will frustrate your every effort to make money. Use Forexchief for any strategy, as long as all trades abides by their terms and conditions, you will be fine.
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No type of investment is completely safe, that is why I prefer to minimize my risks using a reputable intermediary, forexchief has given me that peace of mind and modern tools to advance with my projects.
Best slippage free broker is Forexchief. Stop loss is especially honored at the desired price. I love this. This is the same feature on a demo, I thought things might get messy once I started using a live account. But the market situation remains the same. I do get off price sometimes when placing orders, but the difference is just 2 or 3 pips apart. I hope things remain this way because I am loving this platform.
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From what I was able to review in my forexchief account, what caught my attention the most was that I can increase the funds in my account by 50% with its asset increase system, something that I have been able to take advantage of a lot.
My trading experience with Forexchief is positive and pleasing. The spreads are low, especially with the majors. I would not recommend the exotic pairs. Bitcoin cfd is around 10 spreads average, pip spread, which is still low. My previous broker offers 40 pip spread on it.
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So far, deposits and withdrawals are done smoothly, which is most important to me. Also, as a trader who only trades gold, I find their commissions to be one of the cheapest when it comes to metals. I maintain my account balance for as long as they give me this cheap fees. I am having a great experience working with this broker
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Hello, my name is Kune, I use Forexchief standard account, I started with $200, plus the other $200 the broker gave me, making it $400 as start up capital. Basically, this is the easiest broker I have registered with. Everything was with such ease. I am making good profit from a signal service and I am continuing my Forex education and trying to build my own strategy. No stress and no money issues, this is the best broker to use
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I like the transparency that forechief provides, it is very easy to check the history I have of each signal of all the orders I have generated and I can keep everything I am doing in order.
My initial deposit to Forexchief is $500. After two weeks of trading I got balance equity of $673. This is slow progress but the profit making is constant. I only traded a few times each week. Forexchief mt4 is very good for success. The spreads are low and commission is at minimal. I also like the leverage offered and the ability to choose anytime.
I started trading forex in February 2019. Forexchief is my first broker ever. I thought I’ll just use their mt4 to learn and then move to a bigger broker. But then I realized how smooth and perfect their mt4 execution is. I have read others complain about bad timing, slow orders, but I have not experienced such with Forexchief mt4. For this reason I stuck with the broker till now. I think I’ll continue to have a long term relationship with this broker.
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It seems to me a responsible and attentive broker, I like its modern and easy-to-use platform, I have been able to withdraw several times without any problem, its low commission has helped me to make low entries.
I just want to thank this website owner for a great review of Forexchief. I stumbled upon it couple of days ago while looking into another broker. I do trade occasionally with my Forexchief standard account. I can say my experience has been a good one, especially when it comes to withdrawing profit. No problems with finance. The order execution is perfect as well, less than 1 seconds. Even during news hours when the market is moving fast, you can still close trades in less than 3 seconds.
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I am using the cent-MT4.DirectFX account with Forexchief. This is my third year of using a micro account. It comes with high leverage, though there other account types to use. The mt4 is very responsive platform and lowest spreads that reconciles well with profit.
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First withdrawal is done successfully after joining Forexchief firm. Despite being short amount, I thought i would have to stay long for the money to get but my thought came wrong. They have done their job magnificently. However, i strongly hope they will be providing quick response about withdraw like this in future even in case of big amount of withdraw. I am really satisfied with it.
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My name is Jonathan from Macedonia I am happy to use Forexchief. There is no restriction to strategies here. No silly limitations to price distance when setting SL or TP. They also let me use closeby order to close hedged trades. I put in money and take out profit constantly.
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I like that when I open the forexchief app I can make transactions directly from the graph of the trading instrument, which seems really practical when I want to manage my orders.
Forexchief deposits and withdrawals method is close to perfect: deposits happening instantly minutes of requesting from my credit card is usually within 24 hours and are in my bank account no later than the next day. Never any issues with any cash transfers either way. Customer service is helpful all the time. Quick and friendly in all aspects/correspondence. I was able to visit a branch in Singapore and at the same time I feel a level of confidence and trust.
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I have been trading with them since the beginning of the year to avoid the ESMA laws in Europe and to benefit from high leverage. their execution is great and they propose a large choice of instruments. I asked for a withdrawal and they did it immediately. their customer service is great.
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It seems to me that forexchief is a fairly suitable trader for those who have little experience, since its interface is intuitive and easy to understand, that is very important in the beginning, to avoid mistakes as much as possible.
I value low cost trading that Forexchief offers. I’ve been able to save on low trading fees. Another good part is a leverage of 1:500 that I use often. There is even up to 1:1000, but I don’t need that high. When trading fee and spread is low, one can easily scalp the market and be able to take good profit. This is why I use Forexchief, plus the fact that I don’t have problems with taking money when I want to.
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If my friend ask me where to find a broker, I’ll definitely recommend Forex trader. In these days when the market is full of trash it’s really challanging to find a worthy broker to use. About Forex I knew from one of my friends who also used their services, I researched and by reading really good reviews I decided to trust them and still don’t regret.
I decided to risk and fortunately it worked for me. Of course it was a little difficult for me to learn making trades, which I’m still learning, but I was lucky as I found a supportive broker as Forexchief. It’s important for every trader to find a broker that will give a unique opportunity to open accounts or deposits, briefly to complete all the functions that is important for every trader.
Also I’m glad with Forex trader supportive chat, and grateful a person answering my questions. They treat every client with respect and patience, no matter your deposit is small or big. Try it, and you won’t regret.
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After a meticulous search on the internet for a reliable broker that offers a variety of assets, I found Forexchief. They offer 1:100 leverage on commodity trading. This was exactly what I was looking for. Their server is an added, as fast as the speed of light. My orders are executed and filled within few seconds. I am also very happy with the spread and swap management. I recommend all to use this broker.
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The best trading tool I have seen is very simple and easy to use, I like that forexchief quickly offers the commercial bonds that come as a ring when there are promising entries.
I opened an account at Forexchief for one of my EAs. The type of EA is a very active one and some other brokers did not allow it. Forexchief allowed me to run it. It worked great on demo account before I moved it to live account. The EA works with high volume and high leverage up to 1:500 for maximum profit. Success was not same with demo, but I am not running at loss. It performed better than expected with Forexchief mt4. The broker also offers many other assets including crypto. Spreads are low and execution is very fast.
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We have very few option of brokers to use from Athens, but thankfully, Forexchief accepted my registration, which was quick. I verified my account with document just to be on a safer side. I am also grateful that I can deposit and withdraw to my bank account. My colleagues do complain of issues with their broker, so I recommended Forexchief for them. It is all good all the time.
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forexchief provides me with up-to-date charts with real-time auto-scaling and scaling capabilities that help me stay up-to-date with constant market movements, it’s important to know to make good investments
This is a great review of Forexchief. My cousin uses this broker and I registered last month. Registration and deposit was very easy. They have mt4 and mt5 platform, but this page says otherwise. My cousin has been using the broker for a few months now and told me it is a very decent broker to use. I am three weeks old with Forexchief. Everything has worked out fine so far.
I like that when I open the forexchief app I can make transactions directly from the graph of the commercial instrument, which seems really practical when I want to manage my orders
It is a decent broker. I’ve been trading with their mt4 for past 14 months.
I like the flexible configurations for the graphic display of technical indicators that forexchief allows me to modify in my orders such as the thickness of lines, type of lines, color of lines among others.