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ForexChief Review
ForexChief rebranded to xChief in 2023. It holds a genuine but weak Vanuatu VFSC license, plus a Comoros MISA claim that carries no real legal authority.
Min Deposit
$10
Spreads From
0 pips (ECN/Raw account)
Max Leverage
1:1000
Platforms
MetaTrader 4, MetaTrader 5
Pros
- Trading history stretches back to 2014 under the same company
- Low ten dollar minimum deposit works for smaller accounts
- Offers MetaTrader 4 and MetaTrader 5 with leverage up to 1:1000
- Runs PAMM investment accounts for passive, managed exposure
Cons
- Its Comoros MISA claim carries no real legal authority to license finance
- Vanuatu VFSC sets no minimum capital rules or regular audits
- WikiFX reports a high volume of unresolved client complaints
- Around 42 percent of its Trustpilot reviews are negative
- The old ForexChief brand now just redirects to xChief instead
ForexChief has traded since 2014 under a Vanuatu VFSC Securities Dealer license, number 14777. In 2023, the brand renamed itself xChief, though forexchief.com now simply redirects to the new site and the underlying company and client base stayed the same.
New accounts need as little as $10, with leverage up to 1:1000 on MetaTrader 4 or 5. xChief runs a long list of bonuses, including a $100 no deposit bonus, a welcome deposit bonus up to $500, PAMM investment accounts, and trading contests.
Vanuatu's VFSC sets no minimum capital rules and runs no regular audits, so its oversight is real but weak. xChief also cites a Mwali International Services Authority license in Comoros, a body that country's own central bank says has no real legal power to license finance activity. WikiFX also reports a high volume of unresolved client complaints.
Min. Deposit
USD 10
Max Leverage
1:1000
Spreads From
0 pips (ECN/Raw account)
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
