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.
Well, I won’t say the features offered by this broker is special, but at least they are consistent in offering them. While some brokers starts well, and depreciates in services after some time, Forexchief has been rock solid for 2 years now. I don’t know about others, but to me, their services keeping getting better and better. Spreads has been consistently low, execution always fast and financial transaction still reliable. I highly recommend this one.
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I have been trading with them since 2016 and throughout that time I never had a real issue which could not be solved to my satisfaction. Trading conditions are perfect for swing trades; low spreads, fast execution and no slippages.
Support is very eager to help. If they can keep that level of professional treatment of their clients I am happy to have them as my trading partner in the future as well.
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For the last four months, I have used Forexchief mt4 with great success. I am trading mostly eurusd. I have chosen this broker due to very tight spreads on this pair o some 0-1 pips, but it is also more or less the same for all other major pairs. The spread is flexible and I get really small spreads most time. Deal execution is very fast and MT4 works quite good here. I have not seen any issues and I am happy about that.
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o many things I want to write about this broker, but I don’t have to. Just want to summarize.
Pros
they offer 1:500 with no limits on account size and no position limits and 24/7 customer service. Allows scalping and offers quick withdrawals.
Cons
I am still waiting to see their negative side. My orders are properly executed and I cash in many times.
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An important factor that makes transactions fast or MetaTrader data load quickly and completely is the existence of different servers. The servers of this broker are scattered in all parts of the world (Frankfurt, London, Ireland, Bahrain, Singapore) , which makes you have no problem in this regard.
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Forexchief spreads have been the best that I could find in the market. I have traded with them for 5months. The commission and swap, as the same as the spread, are excellent too for the conditions under you open your account and the minimal amount that you need to open your account.
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An interesting new feature that ForexChief has recently added is “Transitory accounts”, if I want to give a brief explanation, that transitory accounts are created automatically when you register in ForexChief, and can be used to make deposits to your trading accounts or to make an investment. A separate account
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This is my first review of a broker, since forexchief is my first broker ever. I am new to trading, but I can boast of a year’s experience. I only needed a broker with decent leverage for currency and crypto trading. I do juggle between 1:100 to 1:1000, yeah there is the flexibility. I am stuck with this broker because it ticks all the boxes.
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My name is Ahmed, I am a Muslim and in Islam, Swap is forbidden, I was very happy when I saw How Forexchief fix this matter for me, after explaining this to them, acted immediately and within a few days my account changed to Islamic one (they add this kind of account ). Their various deposit and withdrawal methods were very helpful for me (webmoney and perfect money), because i could not use Visa and MasterCard services.
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this broker Work with a minimum transaction of 0.01 standard lots, including Cent Accounts. I think this is great for people who want to test their trading strategy like I started six years ago, because they will not have to worry about losing all their money. For me, working with Forexchief is a great experience because I was able to easily improve my skills with their various accounts.
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It’s been a favorable 2 years with Forexchief. I intend to stay with this broker for several reasons. They have the smallest spreads, and provide a fast trading platform. More importantly, they provide a free and ultra fast withdrawal and deposit.
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Forexchief is praised on forums for its low commission. I also like the idea of copying trades on the mt4 platform. Hey has a very low minimum deposit, so it’s best for beginners. Account registration and funding Is stress free.
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Forex has been a good source of income to cover some bills. I am happy to use one of the best brokers too. Forexchief trading condition is part of the reason why I make some profit every now and then. For this reason I give the broker solid 5 star. All profit I have made so has been easy to withdraw to Neteller.
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The account registration process went through very smoothly without any hitch or delays. I am glad to see a variety of payment methods. Skrill is most preferred for me, my funds reflected instantly after deposit. The mt4 platform is easy to use and server never fails.
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I have been trading with Forexchief for six months. All payments have been timely. Commissions on referrals and swaps are also paid with no issues. I really like this broker and will continue to use it for as long as they exist. Excellent work!!
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I have been with Forexchief for more than a year. What has impressed me so far is their spreads, especially on EurUsd and Gold. I never had any major issues, at least not yet. Withdrawals are very fast during working days, but slow on weekends. That’s it, as long as money comes to me, I have no issues. This is a broker that does not trade against client, everything works smoothly.
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Deposit bonus and a leverage up to 1:1000 are excellent offers I have enjoyed from Forexchief so far. I am happy there is still a Forex broker that is not highly regulated but still gives you a safe feeling. I hope to achieve more with this broker before the year runs out.
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Forexchief is the second broker I have registered with in my three years of trading. I had to leave my first broker because I was looking for brokers that offer something extra. For example, I need fast payment service and also the ability to trade major cryptocurrencies. Forexchief has this feature, that’s why I like it. The broker has also ticked the majority of the list. I think any broker who uses Forexchief would love it
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I finally found Forexchief with the help of a friend. This broker helped solve my issues with international payment as a result of rigid rules from my country. It is now easy to trade with online payment systems. I don’t have any issues with this broker. It is perfect solution for me.
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I like that forexchief allows me to have in its app and web platform a detailed history of all my orders, transactions, among others … that is great not to have many complications to make my detailed inquiries
I have been with Forexchief for 4 months, and I am moved to drop this review as a way of saying thank you. This short time with the broker has given me my biggest profit ever. Everything works well with their platform, I can’t say it’s good luck. My trading strategy produces more results with this type of broker, especially when the execution is fast and mostly quote free. I am giving this broker 5/5 star, as long as everything looks good till the end of time.
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My name is Hector, this is my review of Forexchief. The first thing to note is the quality service rendered by the chat agents. Second thing is that they are reliable and transparent. I would not need another broker unless something terrible happens to this one.
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I like Forexchief because it keeps the page working optimally, it has a good leverage system, on the page I can get very useful tips when making entries.
I am a scalper, and Forexchief has no restriction on scalping. I make easy money, withdraw profit multiple times a month. My satisfaction goes beyond their tolerance for scrapers, there are a number of assets offered with very low spreads. Low spreads is what makes scalper so happy. If you are one, this is the broker you should be using.
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I like the forexchief interface and the updates regarding MT4, many tools to choose from.
Forexchief is a very legit broker. They allow deposit via bank transfer, which means they are real and can be traced if anything goes wrong. Only a legit broker would do that. True to this, all my withdrawals are sent on time. Trading conditions are very good, especially spreads, it’s pretty comfortable to trade the news
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The best trading tool I have seen is very simple and easy to use, I like that forexchief offers quickly the trading bonuses that come like a glove when there are promising entries.
I like that when I open the forexchief app I can make transactions directly from the chart of the trading instrument, which seems really practical when I want to manage my orders.
forexchief offers me updated charts with real-time scaling and autogyro capabilities that help me keep up with the constant movements of the market, it is important to know this to achieve good investments
I have been testing Forexchief for three months now. I run a micro account with $500. There is an option to use mt4 or mt5 with many assets to trade. The execution is market style. Best thing I have seen is instant execution of stop orders without slippage. I love this about the broker and it is very commendable that they put in so much effort to shield my trades from bad slippage. I have only used the withdrawal system once and it is good too. I am not yet ready to add more funds, but I think this broker is worth trading forex.
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