Is forexchief regulated

Forexchief is one of the brokers you can choose online when you want to become a trader.

With trading, it is essential to make sure that you are choosing the right broker. Otherwise, you are going to end up just losing money and not have the chance of becoming a successful trader. The most important thing to consider before you are registering with forexchief and starting to trade with them. Regulators are warning traders about using forexchief as a broker. There are many reasons why these brokers aren’t recommended by regulators. The most essential reason is that they aren’t registered as international brokers and they aren’t regulated.

Is forexchief regulated

Forexchief brokers. Everything you need to know

Forexchief is one of the brokers you can choose online when you want to become a trader. With trading, it is essential to make sure that you are choosing the right broker. Otherwise, you are going to end up just losing money and not have the chance of becoming a successful trader.

In order to be able to know if a broker is recommended, is to get all the information about the broker. This is why all these mentioned information about forexchief is so essential. This is to show you that this might not be the best broker to use.

Broker information

Forexchief is offshore brokers and situated in vanuatu. It is unclear what type of brokers they are because of a lack of information about cryptocurrencies that they are trading with. Not sure if they are forex and CFD brokers.

They have a valid physical address, a couple of telephone numbers and a valid email address. However, this doesn’t mean that they are legit and that you can use them without any problems. Many traders think that this is the only thing that you should look for. This isn’t the truth.

Are they registered and regulated?

This is one of the most important things to look for. Are they registered and regulated as brokers? Especially if they are registered and regulated as international brokers?

No, they aren’t registered at all. And, they aren’t regulated as well. This means that they don’t have any rules and regulations that they need to follow and there isn’t anyone making sure that they are legit. Making it really dangerous to use them as brokers. Because they are offshore brokers, this is putting them at higher risk to be used.

Account and minimum required deposit info

Forexchief is basically offering traders two different account options. You can choose the one that will suit your trading needs best. There are some benefits and problems with each of these accounts, so you should be careful about the account that you are choosing.

Even, if they don’t have a minimum required deposit, it is still recommended that you don’t deposit a huge amount of money into their accounts. This is because of the high risk of an offshore broker and an unregulated broker.

The platform that they are using

The good news is that they are using the MT4 platform. For those that don’t know MT4 is one of the best trading platforms on the market to use for trading. This is the platform that most traders prefer and that most have experience with.

However, the downside is that this is the only platform that can be used. There are some traders that are looking for other platforms, and this isn’t an option with forexchief.

Welcome bonus no trading information

This is the one thing why many traders are registering with forexchief. They offer a welcome bonus to those traders that are registering with them for the first time. This is a $20 no deposit bonus that you will get when you register with them. However, there is a catch. You can’t withdraw these funds until you have trade and made $1,000,000. This is ridiculously high.

And, besides this high term for withdrawing the no deposit bonus, there aren’t any other trading information available. Making it impossible to know for sure that you will be able to reach the required amount before you can withdraw the no deposit bonus.

Terms and conditions not standard

Something that is bothering us is the terms and conditions of forexchief. This isn’t standard terms and conditions for trading. Putting every trader that is using forexchief for trading at risk of losing more money than making money.

It is essential to use brokers that have the standard terms and conditions of trading. And, because they aren’t regulated, they don’t need to use the standard terms and conditions.

Regulators are warning against forexchief

The most important thing to consider before you are registering with forexchief and starting to trade with them. Regulators are warning traders about using forexchief as a broker. There are many reasons why these brokers aren’t recommended by regulators. The most essential reason is that they aren’t registered as international brokers and they aren’t regulated.

You can’t make use of a broker that isn’t regulated and registered. And, this is why you should make sure that you take what regulators are saying and recommending about a broker seriously.

Forexchief is brokers that aren’t registered and that aren’t regulated. There are many irregularities about these brokers that are making it risky to use. So, it is important to reconsider, if you think about using them as brokers. You should rather use brokers that are recommended, registered and regulated. That aren’t offshore brokers and that comes highly recommended. Now you know that forexchief isn’t the best brokers to use.

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Forexchief

Company forexchief ltd.

Founded in 2014

Online since 2015

Offices in

Bitcoin

Bitcoin cash

Credit/debit cards

Ethereum

Fasapay

Litecoin

Local bank transfer

Neteller

Perfect money

QIWI

Ripple

Skrill

Tether (USDT)

Unionpay

Webmoney

Wire transfer

Yandex.Money

Euro

Great britain pound

Japanese yen

Russian rouble

Swiss franc

United states dollar

Arabic

Bengali/bangla

Chinese

English

Hindi

Indonesian

Portuguese

Russian

Spanish

Ukrainian

Account types:

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Reviews

64 reviews of forexchief are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

All key information about forexchief is present on their website. This is an honest broker with no hidden charges. Some of the issues I had was because I did not read through the account type pages to know what features are present in each account type. Forexchief is perfect for me. My advice to anyone is to make sure to ask questions before doing anything. I have access to 1:1000 leverage here. No issues

I have been trading with forexchief for the last 2 years and got a lot of support from opening accounts, document verification and trading consultation. If the spread is larger and it was not as promised, they reimburse with the spread charged or widened, funding and withdrawing are smooth without any hassles. Overall a decent broker and good support.

This is a very professional broker to use. The staff on chat department is amazingly good and has vast knowledge of forex. She answers all my questions with precision and patience. This is the first impression that made me register and started trading with forexchief. Every other thing is fine as well. All I hear about the broker giving 1:1000 leverage and big bonuses is actually true.

I have used other trading tools like ctrader before, it was okay. But I learned forex with mt4, so it was nice to finally find a broker with mt4 and mt5 that is really good on spreads and leverage. Forexchief offers excellent service and low trade commission.

Trading forex from hungary is made easy for me by forexchief. They have three good payment systems and work well with my country and I am treated well as an elite client. I love the attention the broker gives to traders with small or big investment. First, the website is easy to navigate, deposit is easy, withdrawal is fast. Trading is smooth and fruitful with this broker. I look forward to many years of making profit.

Forexchief amazing broker, efficient team! They are very helpful with their customers, and if anyone looking for a good broker I think forexchief is the best choice.

This is a broker with offshore regulation, but I am very much impressed with their services. My first deposit was 2000$, and then another 8000$ after all was well. So right now I have approx 14k used with this broker. I made 2k withdrawals last week. All is well, and all is fast. I love it here.

Not bad for a broker outside the EU and U.S. In fact, I noticed forexchief has better execution of order, less slippage and requotes. Also stop orders are triggered perfectly. I use bank transfer for deposit and withdraw, more comfortable, but not as fast as other payment methods. Still, I get my funds within 48 hours most times. I will continue to use this service longer than I planned

This is one of the best brokers I have used since I started trading. I like the fact that they want me to succeed. They don't cancel my profit or do regular checkups on my trades, which was a serious issue with another broker. The forexchief mt4 server is one of the fastest I have used. It is really nice to use a broker that supports you all the way.

Forexchief allows me to sell my signals to subscribers around the world and I can choose if I want to copy the movements of other more experienced investors, that is a very positive aspect of them

I think every trader out there should use forexchief. There is flexible account types to accommodate any kind of trader. I use a micro and standard account. There is no fixed spread, only variable. I do like fixed spread, but the variable spreads seems more advantageous and far lower than fixed spreads. There is no deposit fee.

In my journey to find a good broker that offers high leverage, I chose forexchief. It is regulated by the ifsc. This regulation is not as good as the u.S or a.U. But I am not easily fooled by top regulations, a broker who wants to screw you will do, and these days the regulatory agents don't help us traders. So what is the use choking myself with bad trading conditions from highly regulated brokers. Besides, they will never offer 1:1000 leverage as forexchief does, no will they give me low spreads as I get now. So traders like myself have to sacrifice regulation to get my leverage needs as long as the broker has a long history of integrity and good reputation. Forexchief ticked all my requirements. Am in 100%, and right now I am enjoying my trades, ripping the profit off the market

I like being able to copy transactions through social trading, which is very useful for me because I can make the same entries or analyze them for later entries, the withdrawal of funds is convenient and fast.

If you are looking for a decent broker that gets the job done, forexchief is the real deal. This is a small broker but have built a good reputation here. I love it. I am doing this review due to personal experience of 1 year as a trader with this broker. With it comes to finances, they are committed to making sure I get my money at exactly when I need. No issues when it comes to my money. My last withdrawal was done last month. I am planning another by the end of this month

I have this feeling of safety with forexchief. They are not heavily regulated, but from my experience they don't play with trader’s money. Profits are always intact and withdrawing it is easy and fast. I have a friend who has been using the broker long before I registered. He told me he has no experience any issues. This gave me confidence to use forexchief and all is true. I will trade with their mt4 for a long time

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Forexchief review

Founded in 2014 with its head office in vanuatu, forexchief is a licensed dealer of securities that offers forex and CFD trading services with multiple assets for trading online via the metatrader platforms. The broker offers a modest 60 assets for trading across different asset classes such as forex, indices, energies, cryptocurrency, and metals. They allow multiple trading strategies, various account payment options, and multiple account types, providing quality trading conditions with good execution speeds, competitive spreads, reduced slippage, and negligible rejections.

Forexchief review – broker features

Forexchief review introduction

In this forexchief review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including forexchief.

Forexchief platforms & tools

Forexchief provides clients with the MT4 platform, which was developed in 2005 by metaquotes software corporation and is so far the most widely used trading platform. It has a simple interface and features good speed, scalability, versatility, and the inbuilt MQLQ, which aids traders to deploy expert advisors (eas) for automated trading.

Forexchief review – social trading

The broker also provides the MT5 platform, which is very similar to the MT4 platform but has more features and extended capabilities. Both the MT4 and MT5 platforms are downloadable as a window desktop application and also as a mobile app on ios and android devices. The broker also offers clients some additional trading tools, such as social trading, market analysis, and trader’s calculator.

Forexchief review – trader’s calculator

Forexchief research & education

Forexchief websites are loaded with economic and educational articles. The articles cover a vast range of topics, including the economies of nations, bitcoins, forex trading, technical analysis, trading strategies, technical indicators, and more.

Forexchief review – trading education

Forexchief trading accounts

The broker offers the following different account types:

Directfx: the spreads start from 0 pips and an average EURUSD spread of 0.4 pips.

Classic+: spreads start from0 pips.

Cent-MT4.Directfx: spreads starts from 0 pips.

Cent-MT4.Classic+: floating spreads start from 0 pips.

Cent-MT5.Directfx: floating spreads from 0 pips.

Cent-MT5.Classic+: spreads starts from 0.3 pips.

For all the accounts, the minimum deposit is $50 and the lot size is 100,000. Swap-free islamic accounts are available on request. The demo accounts are freely available for traders who wish to test the different trading platforms & strategies before opening a real account.

Forexchief account funding

Forexchief has adopted a cashless settlement policy in accordance with its anti-money laundering policy, so cash deposits and third party deposits are rejected. The payment options available to forexchief clients are as follows: bank wire transfer, local transfer, bank SEPA transfer, credit/debit card, electronic payment, and bitcoin.

The deposit and withdrawal fees and the processing time depend on the payment method used.

Forexchief customer service

Forexchief client support desk operates 24/7 from the different offices of the broker and can be reached conveniently via web chat, telephone lines, and email. They are also on social media platforms, such as facebook, telegram, whatsapp, viber, and skype.

Forexchief regulation

Forexchief ltd is incorporated in the republic of vanuatu, and they are authorized and regulated by the vanuatu financial services commission (VFSC).

Forexchief review summary

Forexchief is a client-focused broker providing multiple account types, multiple payment options, and the popular MT4 and MT5 trading platforms with competitive spreads and execution speeds. The broker is regulated by the VFSC of the republic of vanuatu.

It is worth mentioning that some of the trading products and services in this forexchief review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the forexchief broker website which you can visit by using the link below.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Forexchief

Spreads

Liquidity

Commissions

Support

Regulation

Features

MT4 and MT5 trading platforms

A good selection of educational resources

Multiple payment options including bitcoin

Different classes of tradable assets

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Forexchief review – is it a scam or legit broker (2021)

In this forexchief review, we are going to take a look at the offer that this broker prepared for its traders. Forexchief operates on the financial market since 1995. When it comes to trading platforms, the broker features metatrader 5. The forexchief minimum deposit is 50 USD.

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 this forexchief review

website address:	forexchief.Com
operated by:	forexchief ltd.
Licensed and authorised by regulatory bodies:	VFSC
supported languages:	english, spanish and portuguese
customer support available via:	E-mail, phone, live-chat
contact details:	[email protected], +65 3159 3652
available deposit methods:	bank transfer, VISA, mastercard, advcash, alipay, bitcoin, fasapay, local bank transfers, neteller, perfectmoney, qiwi, skrill, unionpay, webmoney
available withdrawal methods:	bank transfer, VISA, mastercard, advcash, alipay, bitcoin, fasapay, local bank transfers, neteller, perfectmoney, qiwi, skrill, unionpay, webmoney
minimum deposit:	50 USD
min. Trade in lots:	0.01
spreads:	typical spread on the currency pair EUR/USD - 0,7 pips * on standard account type
tradable assets:

Forexchief fees (typical spreads)

We have scanned fees (typical spreads) that forexchief charges when trading popular currency pairs, here is their breakdown in pips.

*typical spreads were recorded on 17.01.2020 at 21:28 for the standard account. Forexchief spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: finotec, whaleclub, marketsx and commsec

Frequently asked questions

�� is forexchief a scam?

In accordance with our research, forexchief is a broker licensed and regulated by the VFSC. While it is a good thing that the broker is regulated, the VFSC regulatory agency is in comparison to 1st tier regulatory bodies like the cysec one of the weaker regulatory authorities when it comes to investor protection. In order to be sure that forexchief is not a scam, read our trader reviews and check other popular trading related websites and forums.

�� what is the forexchief minimum deposit?

In order to start trading with forexchief, you have to deposit at least 20 USD (trading accounts can also be held in USD,EUR,GBP,CHF,JPY).

�� what deposit and withdrawal methods forexchief supports?

We don’t have our own personal experience with forexchief. However, the broker is regulated by the VFSC which does not provide as strong protection to traders as 1st tier regulatory bodies (like the british financial conduct authority). Considering that there are hundreds of brokers with stronger regulation and quite highly possibly with better trading conditions too, it makes little to no sense to trade with forexchief.

Should you be looking for a highly reliable broker featuring forex trading and cfds, you can get your hands on our marketing broker IQ option – 85% of retail CFD accounts lose money , which is a cysec regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.

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.

¹ variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.

Tradingbeasts helps individual traders learn how to responsibly trade binary options and cfds. We actively trade, publish educational articles and news. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey.

Disclaimer/disclosure

All information on this website represent subjective views of the authors and they are solely informational. We do not give investment advice. The operator of the website or the authors of the articles do not bear any responsibility for any decisions that visitors may make after reading articles published on the tradingbeasts website. When you trade binary options or cfds products you are exposed to a high risk of loss. We review and rate companies offering trading platforms for binary options and cfds. We do our best to warn people about scams and promote only companies we personally consider to be very good. From some of these companies, we may receive compensation. In order for you to use this website in any manner, please read our disclaimer/disclosure page and privacy policy

Detailed forexchief review – features, bonuses, withdrawal policy and more

Starting capital

Extra feature

Gearing up to

Founded in

Licensed by

Software

This is not a verified broker!

We do not recommend you trading with this broker. Its regulation and reputation is doubtful.

Forexchief was founded in 2016 and is operating on the market for three years already. It is not a very long time but is sure enough for the broker to establish itself and get a loyal audience. However, there is not much information about the brokerage or forexchief reviews made by its customers which is not a good sign. Can broker with three years of experience be a scam? There are some features of the broker that makes us think so. First things first, the brokerage is registered and authorized offshore, by the financial services commission of vanuatu. The broker offers the minimum deposit as low as 100 USD. It also has bonus offerings that might look good on the website but comes with the requirements that make it nearly impossible to withdraw any money. Hence, it is possible to assume that these bonuses are part of the forexchief scam. Let’s go through all of these features and see if the broker is truly a fraud or legit broker you can trade with.

Forexchief.Com review

When a trader hears about the new brokerage the first thing he might do is to check its website and see what does the broker offer to its customers. When you first enter forexchief.Com you might get an impression that it is not really a website of the brokerage. It looks somewhat sketchy with the navy pinkish colour and green elements which makes you think you are on some amateur health blog. Forexchief.Com review overall ended up to be a big disappointment. Contentwise there is nothing much to see. The broker tries to create an illusion that the website is loaded with content but once you start reading you will see that there is nothing much to be read. The broker claims to provide education to its customers, but there is barely 10 short articles that can be found anywhere else on the internet. FAQ section, which is always loaded with the questions on legit brokers website has only five basic questions. The technical side of the website is not very well made as well, it takes too much time for the pages to load and the navigation does not make it easy for the visitor to find needed information. Normally legit brokers invest much into the website for a very logical reason, it is the platform where the customers get in touch the broker, where they find out what the broker offers and where they create their account. Seeing that the broker has not invested much into the website is pointing out at the forexchief fraud. The scam brokers do not need to invest much into the website as they need to change it sooner all later when their scam is revealed.

Is forexchief legit?

Regulation is the most important part of the brokerage. It prevents them from wrongdoing and creates a safe environment for the traders. When a broker is regulated by the local financial authority it means they are part of the compensation fund and in case the traders lose the money due to the broker, they will be reimbursed. The customers of forexcheif, unfortunately, do not have that safety. The broker is regulated by the financial service commission of vanuatu. FSC vanuatu is an offshore regulator that does not have a very good reputation among the regulatory bodies of the world. Can forexchief be trusted just because it is at least regulated? It is always better to have a broker that has a license by the regulator of your country, otherwise, you are not protected at all. Moreover, it is too easy and cheap to get a license in vanuatu. The broker needs to have only 2000 USD to get the license, this is why the scam brokers choose it.

Forexchief minimum deposit

You can create your account with forexchief and fund only 100 USD. It looks very convenient compared to some other brokers that require a minimum deposit of 250 USD. It might be considered that the broker offers a low minimum deposit to encourage beginner or low budget traders to trade. On the other hand, it can also be part of forexchief scam. Especially if we consider the high leverage the broker offers to the customers, which is up to 1:400.

Account types

Forexchief offers several types of accounts both for MT4 and MT5: direct FX, classic+, cent-MT4/MT5. Direct FX and cent MT4/MT5. Classic+;

The account types look legit, the broker provides the information about what are the features of each of them. What makes us suspicious about the accounts is that the broker clearly pushes the traders to open MT4 accounts. For example, all the bonus offerings are eligible only for MT4 accounts. Normally, the broker should not urge you to create a specific account, especially when it comes to choosing the platform, it is up to you to decide which one is better for you. Moreover, considering that MT5 is a better/updated version of MT$ it is shady that forexchief broker is trying to make traders open MT4 accounts.

Forexchief bonus offerings

There are many traders who choose the brokers based on the bonus offerings they have for their customers. Surely, it is nice to have an opportunity to receive free money from the broker or increase your initial deposit with a deposit bonus. Therefore, many legit brokers who can afford suggesting bonuses offer them, this tactic is used almost all of the scam brokers to lure their customers. Forexchief welcome bonus looks suspicious from the very beginning simply because they offer 100 USD free bonus. Why is it suspicious? Here’s why: not many brokers can offer welcome bonuses, most of them have this option if they have had a good income during the period of time and can afford giving free money for every single trader that will create an account with them. Some brokers have a welcome bonus all year around but the amount of it is significantly lower – 30 or 50 USD. Let’s be honest here, forechief is not one of the best brokers who can be proud of the large base of the customers and it is under question mark if forexchief bonus is actual or part of the fraud.

Forexchief withdrawal

There is not much information about the withdrawal policy of forexchief. The broker only discloses the time the withdrawal processing takes and commission that varies based on the payment methods. However, there is information about the forexchief bonus withdrawal and it is not very good. A trader who will apply for the welcome bonus will receive 100 USD on his trading account. After that, he needs to reach a turnover of no less than 10,000,000 USD. The broker shows the example of how this turnover can be achieved and it simply does not make sense. In order to reach the turnover, the trader needs to make 260 pip trade, it already sounds hard not to mention that this trade must be repeated successfully over 40 times! Now let’s say someone somehow managed to get this turnover, he will only be eligible to withdraw 100 USD from his profits!

Is forexchief scam broker?

It is not even under the question if the broker is legit or if the forexchief scam is real. The website of the broker is sketchy and most of the space there is occupied by the information about the bonuses. As it seems the broker depends on these bonuses to lure customers into creating an account and depositing money. Forexchief withdrawal requirements make it impossible to withdraw the money but even if someone will meet the requirements he will only be able to withdraw a small portion of the profit. There is no possibility to confront the broker or get the lost money back since the broker is licensed by the FSC vanuatu. These make us confident to confirm that the broker is a scam.

This is not a verified broker!

We do not recommend you trading with this broker. Its regulation and reputation is doubtful.

Forexchief

Company forexchief ltd.

Founded in 2014

Online since 2015

Offices in

Bitcoin

Bitcoin cash

Credit/debit cards

Ethereum

Fasapay

Litecoin

Local bank transfer

Neteller

Perfect money

QIWI

Ripple

Skrill

Tether (USDT)

Unionpay

Webmoney

Wire transfer

Yandex.Money

Euro

Great britain pound

Japanese yen

Russian rouble

Swiss franc

United states dollar

Arabic

Bengali/bangla

Chinese

English

Hindi

Indonesian

Portuguese

Russian

Spanish

Ukrainian

Account types:

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:1000

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Forex 1:400

Gold & silver 1:200

CFD 1:50

Oil 1:100

Metals 1:200

Energies 1:100

Cryptocurrencies 1:10

Reviews

64 reviews of forexchief are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

Forexchief amazing broker, efficient team! They are very helpful with their customers, and if anyone looking for a good broker I think forexchief is the best choice.

Forexchief allows me to sell my signals to subscribers around the world and I can choose if I want to copy the movements of other more experienced investors, that is a very positive aspect of them

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Forexchief review

Forexchief review – broker features

Forexchief review introduction

Forexchief platforms & tools

Forexchief review – social trading

Forexchief review – trader’s calculator

Forexchief research & education

Forexchief review – trading education

Forexchief trading accounts

The broker offers the following different account types:

Directfx: the spreads start from 0 pips and an average EURUSD spread of 0.4 pips.

Classic+: spreads start from0 pips.

Cent-MT4.Directfx: spreads starts from 0 pips.

Cent-MT4.Classic+: floating spreads start from 0 pips.

Cent-MT5.Directfx: floating spreads from 0 pips.

Cent-MT5.Classic+: spreads starts from 0.3 pips.

Forexchief account funding

The deposit and withdrawal fees and the processing time depend on the payment method used.

Forexchief customer service

Forexchief regulation

Forexchief ltd is incorporated in the republic of vanuatu, and they are authorized and regulated by the vanuatu financial services commission (VFSC).

Forexchief review summary

Forexchief

Spreads

Liquidity

Commissions

Support

Regulation

Features

MT4 and MT5 trading platforms

A good selection of educational resources

Multiple payment options including bitcoin

Different classes of tradable assets

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Forexchief review 2021

Forexchief ltd. (company number №14777) is licensed by the vanuatu financial services commission as a dealer in securities (principal’s license) pursuant to section 4, subsection (1) (a) of the dealers in securities (licensing) act [CAP. 70] as amended. The basic concept of the project is creation of a unique platform for online trading in currency contracts and precious metals on conditions of margin trading. The foundation of the project’s technological infrastructure is built on the STP/NDD model avoiding not only a conflict of interest between the company and the client, but also, in general, increasing service quality by means of narrow spreads and high speed trading order execution.

Start year:2014

Country of origin:vanuatu

Regulation:VFSC #14777

Payment options:bank wire, VISA, mastercard, advcash, alipay, bitcoin, fasapay, local bank transfers, neteller, perfectmoney, qiwi, skrill, unionpay, webmoney

Minimum account size:$50

Minimum lot size:0.01

Leverage:from 1:1000

Spreads:from 0 pips on EUR/USD

Regulation and license

Company name: forexchief ltd. Registration number:14777, license:dealer in securities (principal’s license) issued by VFSC, legal address:1276 kumul hwy, 1st flr govant bldg, port vila, vanuatu

Trading platform

As the basic platform, forexchief offers metatrader 4/5 – the most popular trading platform for forex trading. Separately, institutional clients who offer broker services should pay attention to the STP-gate integrated into metatrader 4/5 that can connect liquidity through a regular trading account on metatrader 4/5 platform with minimum labor input.

The company pays special attention to the technical stability of the trading servers and software that is provided to the client for trading operations. The technologies developed for liquidity aggregation as well as the system of their administration is based on cluster solutions, where a high level of reliability under abnormal loads can be maintained (especially where there is a large number of client orders coming to the trading server when economic news has been published).

Trading accounts

The line of forexchief account types has “cent” accounts (cent-MT4.Directfx, cent-MT4.Classic+, cent-MT5.Directfx and cent-MT5.Classic+), whose balance exceeds that of standard accounts hundredfold. This way, for instance, if a trader refills a cent account with USD 100, and that transfer is successfully completed, the amount of 10,000 (i.E. 100 times more) will be credited to the account, since USD cents is the account currency in this case. “cent” accounts are an indispensable tool, both for beginners, whose experience does not allow them to invest significant capital, and for professionals, whose goals are fine tuning and testing trading robots in real market conditions. Also, this type of account provides an opportunity to have comprehensive testing in dealing with the company, and not risking a large deposit.

It is important to note that only client orders with the size from 1,000 units of the base currency, which corresponds to 0.01 of a lot on MT4.Directfx, MT4.Classic+, MT5.Directfx and MT5.Classic+ accounts, will be transmitted to counterparties. This way, for all orders whose size is below 1,000 units of the base currency, the company acts as a dealer (the “second party” of the transaction).

Segregation of client’s funds

Forexchief uses the generally accepted mechanism of dividing a client’s and its own funds on bank accounts. The use of this model is not only the obligatory requirement set by financial regulators but is also an integral instrument for protection of investors from broker’s insolvency.

Under no circumstances can the company use clients’ funds kept at special bank accounts for its operating activities. Moreover, in order to support unconditional solvency, forexchief does not transfer clients’ funds to liquidity providers’ accounts, and uses its own funds to carry out counterparties’ margin requirements, when placing clients’ orders to the market.

Forex brokers lab

BROKERS with LOW SPREADS

ASIC REGULATED BROKERS

BROKERS with MINIMUM DEPOSIT

BEST FOREX BONUSES

Regulators : VFSC

Cryptocurrencies: YES

Minimum deposit: $100

Maximum leverage: 1:400

Spreads: low

My score: 2.6

Today, I’m going to introduce you to forexchief. The broker established in 2014 and based 1276 kumul hwy, 1st flr govant bldg port vila, vanuatu. Forexchief has offices in switzerland, singapore, south africa and nigeria.

Furthermore, forexchief is an offshore broker and I will give more info about it in the regulation section.

In this forexchief review, you will learn is forexchief scam or not. Moreover, what are the account types of the broker? How good is forexchief trading conditions such as spreads, leverage, minimum deposit and bonuses?

Don’t open a trading account before reading the most detailed forex chief review on the internet!

Forexchief regulation and investor protection

As I said on the first part of the review, forexchief is an offshore broker and licensed by the vanuatu financial services commission as a dealer in securities (principal’s license).

The company behind the broker is forexchief ltd. (company number 14777).

Whereas, the vanuatu license may be partly acceptable but it is not giving much confidence. For reason of that, I can say the minimum capital requirements.

I think forexchief have chosen to register in vanuatu because of the minimum capital requirement is only $2,000.

It doesn’t cover any compensation when clients have a complaint against the broker. Also, it is hard to seek legal recourse when the broker based offshore.

After talking about the regulation let’s continue with another section.

Account types and spreads

Forexchief offers its clients four account types. These are MT4.Directfx, MT4.Classic+, cent-MT4.Directfx, and cent-MT4.Classic+. You can choose also the MT5 version there are not any differences between them.

As you see in the table below, each account can be opened with a minimum deposit of $100 (or equivalent) in the following currencies – USD/CHF/GBP/EUR/JPY.

Account type	minimum deposit	maximum leverage	minimum trade size	average spreads (& commission)
MT4.Directfx	$100	1:400	0.01	0.4 pips +$15 per 1 mln. USD
cent-MT4.Directfx	$100	1:400	0.01	0.4 pips + $15 per 1 mln. USD
MT4.Classic+	$100	1:400	0.01	0.7 pips
cent- MT4.Classic+	$100	1:400	0.01	0.7 pips

There are differences in spreads among account types. The cent-MT4.Classic+ and MT4.Classic+ accounts have no commission. Spread for the MT4.Directfx and cent-MT4.Directfx accounts start from 0 pips; and for others, from 0.3 pips.

Commission for the MT4.Directfx and cent-MT4.Directfx is $15 per 1 mln. USD.

The maximum leverage is up to 1:400 and minimum order size is 0.01 lot for all accounts. Besides, expert advisors and scalping are allowed with the broker.

Trading platforms

Forexchief provides the metatrader 4 platform which is the most popular platform among the brokers and traders.

Also, the metatrader 5 is available which the new version of the MT4 is. You can use both platforms on desktop, ios and android devices.

So, the reasons why MT4 is so popular are intuitively understandable interface, embedded programming language MQL 4, a wide variety of indicators and tools for technical analysis, direct market access through MT4 bridge technology.

However, MT5 has the MQL5 programming language, code base technical indicators database, strategy tester, application store, a wide range of tools for DMA/STP.

Trading instruments

Forexchief offers 50+ forex pairs, metals, commodity cfds, stock, index and cryptocurrencies. Precious metals are silver, gold, palladium and platinum. Commodities are brent crude oil, US natural gas and WTI crude oil.

The cryptocurrencies offered by forexchief are bitcoin, bitcoin cash, ethereum, litecoin and ripple.

Customer service

Honestly, I didn’t like the website, www.Forexchief.Com, of the broker design. It looks like very amateur. I think the designer wanted to compare it to the financial times website.

Despite the website does not give a positive impression, they have a variety of live chat options. While many brokers don’t offer live chat, these options are a massive advantage for forexchief.

The website supports english, russian, indonesian, chinese, spanish and more.

Forexchief bonus

The broker offers two bonuses: welcome bonus and turnover bonuses.

Forexchief’ welcome no deposit bonus $100 allows you to check the company’s services and test the trading strategy chosen. You can get no deposit bonus forex on your account automatically, no personal documents for verification required.

Of course, there are terms and conditions and forexchief have created a complete video-tutorial for you, which explains in details the whole procedure of obtaining the forexchief bonus.

Turnover bonus allows active traders to earn additional income in the form of weekly rewards for trading turnover. The program operates in automatic mode and does not require any actions in the personal area for activating this service.

By the end of each week, weekly trading turnover is calculated, and the appropriate bonus is credited to the trading account. The bonus program’s distinctive advantages are its lack of secret terms and conditions, progressive rates, weekly payments, lack of MTP, and unlimited withdrawal.

You can see the examples, bonus terms and conditions here.

Deposit and withdrawal methods of forexchief

There are a variety of deposit and withdrawal options offered by forexchief. Deposit options are bank wire transfer, local transfers (china, indonesia, and nigeria), credit / debit cards, electronic payments such as bitcoin, skrill, neteller, webmoney, perfectmoney, fasapay and qivi wallet.

It is good to have these kinds of deposit and withdrawal methods for this broker. Because many other offshore brokers don’t provide as much as forexchief.

Transfer time of the withdrawal methods should be better. It takes 3-5 business day when you use bank wire transfer. It takes 3 business day with credit / debit cards and 1 business day e-wallets systems.

Also, there are commission and fees some methods. You can check them on the picture above.

If you want to deposit and withdraw your account without any problem I recommend to trade with a broker who is in my top forex brokers list.

Conclusion

Unfortunately, my impressions about forexchief are not positive at all. While account types, trading conditions, withdrawals and deposit options are positive, on the other hand, my main concern with the broker is loose regulation.

I would advise you to trade a forex broker who licensed in UK, or cyprus for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes bankrupt.

At the end of my word, you can check out the pros and cons of the broker on the bottom of the page.

Forexchief review

Trustpilot

Forexchief is a well-established broker since 2014. Forexchief has headquarters in nigeria, singapore, south africa, switzerland and vanuatu. They are generally well-suited for forexchief to provide their forex/CFD trading services to global clients.

This broker has also been regulated by ministry of finance and economic management (vanuatu) 14777. Simple yet detailed information upon this broker can be seen below.

Features

Islamic accounts available

Account information

This broker offers MT4.Directfx, cent-MT4.Classic+, cent-MT4.Directfx, MT4.Classic+, cent-MT5.Classic+, cent-MT5.Directfx, MT5.Classic+ and MT5.Directfx. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by forexchief is up to 1:1000. Meanwhile, you can open an account with a starting capital of $50

If you want to look for further information about this broker's offered account(s), please take a look at the list below.

Minimum deposit $50

Minimum position 0.01 lot