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
| EUR/USD | 0.7 |
| GBP/USD | 1.3 |
| USD/JPY | 1.0 |
- Company Info
| 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 Details
| Account Currencies | USD, EUR, GBP, CHF, JPY |
| Minimum Deposit | $0 |
| Traders from USA Allowed | No |
| 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 |
- Platform Details
| 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 |
- Trading Details
| 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 |
- Additonal Instruments
| CFD's | Yes |
| Metals | Yes |
| Oil | Yes |
| Stocks | Yes |
| Indices | Yes |
ForexChief Reviews
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