xChief (formerly known as ForexChief) is a seasoned Forex and CFD broker with over a decade of experience and a client base exceeding 600,000 traders worldwide. What bonuses and trading platforms does xChief broker offer?
Weāll explore the account types, minimum deposit, leverage options, spreads, commissions, non-trading costs, investment plans, bonus offerings, support channels, and many more in this xChief broker review.
xChief (Company Introduction and Regulation)
xChief Ltd, operating under the brand name xChief, is licensed by the Mwali International Services Authority (MISA) in Comoros. MISA is an offshore regulatory body that does not bring much safety to the deal.
However, the company offers two main safety schemes for client funds, including segregated accounts and Financial guarantees against technical faults. Key features of ForexChief:
- MetaTrader Integration;
- Diverse Account Types;
- MISA approved with the license number T2023379;
- Tight spreads from 0.0 pips;
- Over 150 financial instruments.
ForexChief Broker Table of Specifications
By combining regulatory compliance with advanced technology and a client-centric approach, xChief aims to position itself as a trustworthy and efficient trading partner.
Broker | xChief (ForexChief) |
Account Types | Cent, Classic+, DirectFX, xPRIME |
Regulating Authorities | MISA |
Based Currencies | USD, EUR |
Minimum Deposit | $0 |
Deposit Methods | Bank Transfers (Swift), Perfect Money, Cryptocurrencies |
Withdrawal Methods | Bank Transfers (Swift, SEPA), Perfect Money, Cryptocurrencies, Credit/Debit Cards |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:1000 |
Investment Options | Copy Trading, Investment accounts |
Trading Platforms & Apps | MT4, MT5, Proprietary platform |
Markets | Forex, Stocks CFDs, Indices CFDs, Crypto CFDs, Commodities, Metals |
Spread | Variable based on the account type |
Commission | Variable based on the account type |
Orders Execution | Market |
Margin Call / Stop Out | N/A / 30% |
Trading Features | Trading Calculator, Copy Trading, Economic Calendar, Market Analysis |
Affiliate Program | Yes |
Bonus & Promotions | Referral, Welcome Gift, No-Deposit Bonus, GOLD Whale Contest |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, Chat Bot, Phone, Telegram Helpdesk |
Customer Support Hours | 24/7 |
xChief Account Types
The broker offers various account types, including "cent" accounts with a 100x balance multiplier, catering to both novice and experienced traders. key features of xChief accounts:
Features | Cent | Classic+ | DirectFX | xPRIME |
Min Deposit | $0 | $10 | $50 | $2,000 |
Currency | USD, EUR | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP, CHF, JPY |
Max Leverage | 1:500 | 1:1000 | 1:1000 | 1:1000 |
Execution Mode | Market | Market | Market | Market |
Min Order Size (Lots) | 0.01 | 0.01 | 0.01 | 0.01 |
Commission (Based Currency) | 0 | 0 | 2.5 | 3 |
Spread | From 0.9 pips | From 0.6 pips | From 0.3 pips | From 0.0 pips |
Instruments | 35+ Forex, Metals | 50+ Forex, Metals, Commodities, Indexes, Stocks, Crypto | 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto | 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto |
Swap-Free | No | Yes | Yes | Yes |
xChief Upsides and Downsides
When considering ForexChief as your Forex and CFD broker, weighing both the advantages and potential drawbacks is essential.
Pros | Cons |
More than ten years of experience in the trading industry | Lack of license from tier-1 regulators |
Diverse trading platforms (MT4/5, mobile trading) | Limited selection of instruments |
STP/NDD technology | Lower leverage options than some of the competitors (1:1000) |
Various bonuses, promotions, and loyalty programs | Some negative reviews regarding withdrawals |
24/7 multilingual customer support | - |
Registration and Verification on xChief
ForexChief has streamlined its registration and verification process to provide a seamless onboarding experience. KYC verification is mandatory for most deposit and withdrawal options. You can deposit and withdraw up to $2,000 only via cryptocurrency without verification.
- Navigate to the brokerās official website at āhttps://www.xchief.com/ā;
- Click āRegisterā;
- Provide the basic information, including full name, country, phone number, and email;
- Login to your account on the xChief mobile app to complete the KYC verification;
- Take a selfie and provide proof of identity (passport, driverās license).
xChief Trading Platform Offerings
we must discuss the trading platform, in this stage of the xChief broker review. the company provides a comprehensive suite of trading platforms, from MT4 to proprietary mobile app, to cater to the diverse needs of its client base.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
xChief Mobile App
ForexChief Broker Fees and Commissions
xChief has significantly reduced spread sizes, slippage sizes, and percentage of refused orders due to its exclusive aggregation architecture. Trading costs vary across various account types, as you see below.
Features | Spread | Commission |
Cent | From 0.9 pips | $0 |
Classic+ | From 0.6 pips | $0 |
DirectFX | From 0.3 pips | $2.5 |
xPRIME | From 0.0 pips | $3 |
The broker also charges Swap/Rollover fees on positions held overnight, which vary based on the instrument.
xChief Payment Options
One of the strengths of ForexChief is its diverse range of payment options, catering to traders from various regions and with different preferences.
Method | Currency | Deposit Fee | Withdrawal Fee | Min Withdrawal |
SWIFT | EUR, GBP | 0% | 1% | ā¬50 |
SEPA | Not Available | - | - | ā¬25 |
Debit/Credit Card | Not Available | - | 2% | $5 |
Crypto | BTC, ETH, LTC, XRP, USDT, USDC | 0% | 0% | - |
Perfect Money | USD, EUR | 1.99% | 0.5% | - |
Does ForexChief offer Copy Trading and Growth Plans?
The broker stands out with its copy trading and investment account options, catering to traders of all experience levels.
Copy Trading
- Allows novice traders to mirror the trades of successful investors;
- Provides an opportunity to learn from experienced traders;
- Offers a passive income stream for those short on time.
Investment Accounts
- Managed accounts for those who prefer hands-off investing;
- PAMM (Percentage Allocation Management Module) accounts available;
- Varying risk levels to suit different investor profiles;
- A minimum investment of $100 is required;
- Only available on the Classic+ and DirectFX accounts.
ForexChief Bonus and Promotions
The broker understands the importance of incentivizing traders and offers a range of bonuses and promotions, from welcome gift to trading contests, to sweeten the deal. The most important promotional programs on xChief:
- No-Deposit Bonus: $100 to start trading without risking your capital;
- Welcome gift: Boost your initial deposit by 100% up to $500;
- PAMM Bonus: $1000 for new PAMM account managers;
- Gold Whale Contest: Compete with other traders for a monthly $5,000 prize;
- Loyalty Pro: 30% insurance on your deposit only for DirectFX and xPRIME accounts;
- Affiliate Program: Earn commissions by referring new traders.
xChief Customer Support
Quality customer support is the backbone of any reputable broker, and xChief seems to take this seriously. The company offers 24/7 support in 20 languages, including English, Spanish, Portuguese, Russian, Farsi, etc.
info@xchief.com | |
Phone | +65 31593652 |
Telegram Helpdesk | https://t.me/ForexChief_bot |
Chat Bot | Accessible on the official website |
Ticket | Through your client area |
ForexChief Geo-Restrictions
Being regulated by an offshore financial authority (MISA), the broker is free to provide services in almost every country across the world. However, US citizens canāt use the xChief services.
Also, some services are incorporated with geo-restrictions. For example, the Souvenir service is only available to clients from India, Indonesia, Iran, Malaysia, Nigeria, Ghana, Benin, and Vietnam.
Potential clients must verify their eligibility based on their country of residence before attempting to open an account with xChief.
xChief Broker Trust Scores
User satisfaction is one of the most important topics in this xChief broker review. Trust is paramount in the forex industry, and the companyās reputation can be gauged through various review platforms.
TrustPilot | 3 out of 5 based on 12 ratings |
3.9 out of 5 based on 94 reviews |
Conclusion and Final Words
xChief provides access to Forex and CFDs on Stocks, Indices, and Cryptocurrencies with leverage up to 1:1000 and tight spreads from 0.0 pips. The company also offers various promotion plans, such as no-deposit bonus, welcome gift, and many more.
ForexChief offer these services through the robust MT4 and MT5 trading solutions and a proprietary mobile app. Share your thoughts about the xChief broker review in the comments.
