xChief review and ratings

Established 2014
Location Mwali
Regulation MISA
Offices Fomboni
Broker type STP | ECN
Leverage up to 1:1000
Deposit from 10 USD
Spreads low  low
Platforms MetaTrader 4 MetaTrader 5 Specific
Instruments Currencies Crypto Indices Metals Energies
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay Perfect Money AdvCash Bitcoin Bitсoin Cash Ethereum Liteсoin Ripple
Type 'MT4.DirectFX' (commission: from $2.50 per side)
Login 5074380
Password ru3o3v6f
Server xChief-Demo (dc1-frankfurt.mt4demo.fx-chief.com:443)
Updated 22.05.2024 (Active)
Instruments Select the category  

Company information

xChief (formerly known as Forex Chief) is a forex broker located in Mwali, regulated by the Mwali International Services Authority (MISA).

Availability

xChief accepts clients from all over the world, excluding some jurisdictions where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

40+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pair Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
10 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal CFDs Based on Gold and Silver.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
100+ Stock CFDs Based on shares of top-rated US companies.

Comprehensive review

xChief, formerly known as Forex Chief, is a forex broker that has been operating in the market since 2014. The broker is officially incorporated in Mwali, an offshore jurisdiction in Africa that does not have any specific regulations that cover forex brokers.

An important thing to take note of regarding xChief is that it does not have any properly regulated entities anywhere in the world that could attest to the credibility of this broker. Although it could be argued that the broker is subject to some oversight from the Mwali International Services Authority (MISA), this is a very loose form of regulatory oversight compared to what is typical in regions like the EU, Australia and North America.

Thankfully though, loose oversight also comes with certain benefits for the user, such as the ability to set up and fund a trading account with cryptocurrencies more or less anonymously, as well as ultra-high leverage of up to 1:1,000 on certain trading instruments.

xChief also has a pretty strong line-up as far as trading instruments goes, with more than 40 popular forex pairs, as well as CFDs on everything from gold & silver to energy commodities, stock indices, and a selection of cryptocurrencies. At the time of writing, the broker also offers trading in stocks from around 100 US-listed public companies.

All the assets offered by the broker are traded on either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms. As usual, these platforms are available as either the standard downloadable version for Windows, as a web-based version for use on any computer, or as mobile apps for tablets and smartphones.

In addition to the standard trading platforms, xChief offers its own app that gives access to what it calls clients' “Personal Area.” This means that tasks such as deposits & withdrawals, registration, ID verification and customer support can all be done through the app.

The types of trading accounts offered by xChief includes the following:
– CENT account, with no minimum deposit, spreads from 0.9 pips and commission-free trading
– Classic+ account, with $10 minimum deposit, spreads from 0.6 pips and commission-free trading
– DirectFX account, with $50 minimum deposit, spreads from 0.3 pips and commissions from $2.5 per lot per side
– xPRIME account, with $2,000 minimum deposit, spreads from 0 pips and commissions from $3 per lot per side

All trading accounts allow for leverage of up to 1:1,000 on the most liquid assets.

Further, trading accounts with xChief can conveniently be funded with either an international bank wire transfer or by making a credit/debit card payment with all major cards. In addition, a range of e-wallet services like Skrill and Neteller, and cryptocurrencies like Bitcoin, Ethereum, and Litecoin are also accepted.

Finally, customer support is offered by xChief via live chat on platforms such as Telegram, WhatsApp, WeChat, as well as a dedicated phone customer support phone number. As far as we can see, however, 24-hour support is not offered.

In conclusion, it is obvious that xChief is a broker that has managed to capture a part of the important African and Nigerian market since it first entered the business in 2014. We also like how the broker’s customer support team is available on several platforms, although we would have liked to see 24-hour support offered. All in all, however, xChief is a broker with a good line-up of trading instruments combined with competitive spreads, and may therefore be a decent choice for traders.

Reviews from traders

4.52/5
(29 votes)
4/5
Bosnia-Herzegovina
Bosnia-Herzegovina
1/5
Germany
Germany
4/5
Argentina
Argentina
4/5
Sweden
Sweden
5/5
United Kingdom
United Kingdom
5/5
Latvia
Latvia
5/5
Sweden
Sweden
5/5
Poland
Poland
5/5
Sweden
Sweden
5/5
Kazakhstan
Kazakhstan
5/5
Albania
Albania
5/5
Belarus
Belarus
5/5
Moldova
Moldova
5/5
Denmark
Denmark
5/5
Netherlands
Netherlands
5/5
France
France
1/5
India
India
No rating
Brazil
Brazil
5/5
Georgia
Georgia
5/5
India
India
4/5
Estonia
Estonia
5/5
Albania
Albania
No rating
France
France
5/5
Chile
Chile
5/5
Romania
Romania
5/5
Russia
Russia
4/5
Australia
Australia
No rating
Portugal
Portugal
4/5
Argentina
Argentina
5/5
Armenia
Armenia
5/5
Singapore
Singapore
5/5
Finland
Finland
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Rating