ForexChief Review

Founded in 2014, ForexChief stands as a versatile online platform for margin trading, offering a range of instruments including forex, precious metals, commodities, stocks, indices, and cryptocurrencies. It offers its services to traders From the USA - which is a nice feature, since there are very few offshore brokers that do these days.

With its operation encompassing ECN/STP and market maker models, ForexChief provides generous trading conditions with competitive spreads and commissions (on some accounts) plus swift order executions. ForexChief places a high priority on technical stability, especially with its MetaTrader 4 and 5 platforms, which are enhanced with an STP-gate for institutional clients.

ForexChief's innovative stream aggregation architecture optimizes trading experiences by minimizing spread sizes and slippage while also serving as a liquidity provider. The broker accommodates a variety of trading strategies, including scalping and arbitrage, and offers high leverage of up to 1000:1. All in all, ForexChief makes a compelling choice for traders around the globe.

Typical Spread on Majors

* STANDARD account shown.
Headquarters Fomboni, Comoros
Type of Broker Market Maker & STP & ECN/STP
Founded 2014
Regulated By Regulated By MISA (Mwali)
Offices In Comoros
Supported Languages English, Spanish, Arabic, Bengali, Portuguese, Hindi, Indonesian, Russian, Chinese, Ukrainian, Turkish, French, Vietnamese
ESMA Regulation ? This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article
Account Currencies USD, EUR, GBP, CHF, JPY
Minimum Deposit $0
Traders from USA Allowed Yes
Clients Funds Segregated Yes
Interest on Margin No
Islamic Accounts Yes
Islamic Account Restrictions Muslim faith only
ECN / STP Accounts Offered Yes
Commission on STP or ECN $2.5 / Lot per side (DirectFX Account), $3 / Lot per side (xPRIME Account)
VIP Accounts Offered No
Mini Accounts Offered Yes
PAMM / MAM Solutions Yes
API Solutions No
Mobile Trading Yes
Web Based Trading No
Funding Methods Credit/Debit Cards, Wire Transfer, Skrill, Neteller, Advanced Cash, Perfect Money, FasaPay, Crypto
Withdrawal Methods Credit/Debit Cards, Wire Transfer, Skrill, Neteller, Advanced Cash, Perfect Money, FasaPay, Crypto
Platforms Offered MetaTrader 4, MetaTrader 4 iOS, MetaTrader 4 Android, MetaTrader 5, MetaTrader 5 iOS, MetaTrader 5 Android
NO of Pairs 39
Cryptocurrency Trading Yes
Pricing Digits 5
Trade off Charts Yes
One-click Execution Yes
Email Alerts Yes
Mobile Alerts Yes
Trading Server Time GMT + 2
Demo Account Expiry Non-Expiring
VPS Offered No
Dealing Desk No
Maximum Leverage 1000:1
Minimum Contract Size 0.01
Execution Market Excecution
Hedging Yes
Scalping Yes
Scalping Restrictions No
Option of OCO No
Option of FIFO No
Negative Balance Protection Yes
CFD's Yes
Metals Yes
Oil Yes
Stocks Yes
Indices Yes

ForexChief Reviews

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Broker Bonuses

$10,000 Welcome Bonus - Join AvaTrade and get a New Clients Bonus up to $10,000

$10 No Deposit Bonus - Open a Live STP account, $10 Bonus is automatically added to your account

100% Deposit Bonus - Receive a 100% Bonus on Deposits (Max Bonus $5,000). Bonus credited after required lots are traded.