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xChief (formerly known as Forex Chief) group includes 2 related companies.
xChief AU - located in Australia, regulated by Australian Securities and Investments Commission (ASIC).
xChief MW - located in Mwali, regulated by the Mwali International Services Authority (MISA).
Unfortunately, ASIC has placed some trading restrictions on AU brokers since late March 2021 (such as limited trading leverage).
At the same time, MW brokers have way less restrictions and more flexible trading conditions, so one can open a trading account there.
xChief accepts clients from all over the world, excluding USA, Australia and some other jurisdictions where restrictions apply.
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. |
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. Update: xChief obtained an ASIC license in 2024 and is now also registered in Australia.
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.
No one is more dishonest than X-Chief. Unbeknownst to me, X-Chief placed an order in the worst possible place, against the market trend, causing all my assets to be wiped out.
If you value your capital, stay away from this dishonest broker.
I opened a trading account here because a friend trades here. So far, I have no complaints about them. Not perfect, but it is possible to trade. I have not yet met an ideal broker.
I like this brokerage company. I can't point out any particular disadvantages. I am satisfied with them.
xChief is a practical choice for new traders. They offer a cent account with a low initial deposit and a no-deposit bonus, making it easy to start trading with minimal risk.
I've been impressed with xChief's xPRIME account, it offers excellent trading conditions. The platform provides competitive spreads and efficient order execution, which are crucial for maximizing trading opportunities. Overall, the xPRIME account has been instrumental in my positive experience with xChief.
This company has both disadvantages and advantages. But they offer one of the best cent accounts. Other brokers' cent accounts are not as appealing, with large spreads and poor order execution. Xchief is fine with this.
xChief broker is alright in my opinion. I've seen some improvements since I started trading with them around three years ago. I use a micro account, and while the leverage is decent, there are other account types available too. The MT4 platform works fine for me, it's responsive enough. The spreads are okay and easy to track against profits. However, there's still room for improvement in some areas.
Beware of this broker! In 10 years of trading, never encountered such a fraudulent broker even remotely. Market prices are manipulated exorbitantly and hardly ever correspond to the real market prices. Sometimes up to 8-10 pips for the broker's advantage without any reason. Positions in the negative are automatically closed by the broker to maximize losses. Deposits without verification and trading are allowed, but only via crypto. Withdrawals are systematically canceled and not processed. Once deposited, the money is gone forever!
My experience with xChief has had its ups and downs. The user interface is friendly and the support team is responsive. The security measures look decent, but you shouldn't let your guard down. Overall, it's not a bad experience, but there are probably better options out there. At this stage of my development as a trader, I am satisfied with xChief.
I have been using xChief services for some time now. Positive points - reliable platform and prompt support. However, as a beginner I had some difficulties at once due to unfamiliar interface of the MT4/5 platforms. Overall, the trading experience is satisfactory, but there is room for improvement.
xChief (ForexChief) provides a decent trading environment. I appreciate their low spreads and quick order execution. While there's room for improvement in educational resources, I find their services satisfactory for my trading needs.
When I opened an account here I was a bit afraid since the company is not very famous. I was worried about the safety of my funds.
Two years have passed and I am still trading here and am generally satisfied with everything.
From the obvious pluses I can emphasize a large choice of accounts, competitive trading conditions and fast enough withdrawal of funds.
Been trading with them for about a year now, and should say I'm quite impressed. Their platform is user-friendly and easy to navigate, even for someone like me who's relatively new to forex trading. The execution speed is great, and I appreciate the variety of trading instruments they offer. Customer support has been responsive whenever I had questions or issues. One thing to note is their competitive spreads, which have definitely saved me some money. Overall, I've had a positive experience with Forexchief and would recommend giving them a try if you're looking for a reliable forex broker.
I have trading accounts in three companies. This way I diversify my risks. One of these companies is Forex Chief. I have been trading with this company for more than two years and I am satisfied with everything.
ForexChief is a reputable company with a user-friendly platform, transparent services, and competitive trading conditions. They offer educational resources and support for traders of all levels, demonstrating their commitment to client success. With tight spreads and fast execution, ForexChief is a reliable choice for traders in the forex market.
I have been trading here for more than half a year now. So far so good. The trading conditions are quite competitive. Execution is ok. Like everywhere else on strong movements may slip a bit, but it does not slip only on kitchens. Deposit/withdrawal works. We'll see how it goes from here.
I have been trading with the company for more than a year. For me two things are important in any brokerage company:
1. Trading conditions
2. Ease and speed of withdrawal
I am satisfied with both trading and withdrawal conditions in this company.
A very reliable broker. So I've been trading here for several years. I am satisfied with the trading conditions and the fast withdrawal of money.
I have been familiar with this broker almost since its appearance. The site is designed for the convenience of the user, registration is simple, there are no questions with verification, support's quick with response to requests.
I have used about 4 brokers in the past from Japan, but none of them actually favored my scalping EA the way Forexchief does. The low spread is the tip of the ice, the commission is good too. I have made several withdrawals, and I am satisfied.
Normal broker. Normal spreads that do not interfere with making a profit even on scalping. There are no unreasonable slippage of orders (only on strong movements, but I don't trade on news). Stable operation of the terminal. I observed only a few short-term (1-10 sec) breaks. Everything about payments works flawlessly here.
MT4 is an excellent platform for forex trading and big earnings. Very high-quality support. This broker is really good. Never abandon customers!
Worst broker scammers, don't give profits, close account immediately, stay away.
After three months trading with Forexchief, I dont have any major issue to note. I think that this is one honest broker, with solid conditions for forex traders. I am using MT5 platform and a good EA which I have created. It works without any issues for last several months. I feel also happy that spreads are tight even during high volatility, they don’t go higher than usual, mostly they are lower. Another positive stuff for me here is that hedging is supported, so I don’t have issues to place SL within 5 pips from spot position.
There is no better broker I have used in the past 6 years. I am new with Forexchief, but what I have experienced so far is amazing. Fast orders and no slippage. I’ve found them to be really reliable over the past year or so. Withdrawals are quick and any problems I've had have been solved by the support team. Can't complain really.
I am with ForexChief 1,5 years now. Started with No deposit bonus but could not work out conditions to withdraw it. But trading is really OK. I deposit 100 USD and already withdraw more than 200. Spreads sometimes go wider on news but all brokers have it. But in general everything is good. Withdrawals are OK.
I don’t see why it is being encouraged to use a US or UK broker with full regulation, when they offer crap trading conditions. One cannot even get a decent leverage or spread. I found Forexchief to be more of a better broker. I can choose from 1:1 to 1:1000 leverage and the spreads are less than 1. It has been more than a year and I have never had any problems with withdrawals. This broker deserves an award for best services.
I trade Forex on a daily basis. I focus on only the major pairs most times. I decided to use Forexchief because they have better trading conditions on ECN account and variable spreads, very low. Now the best part is the fee per traded Lot. My previous broker charge up to $5, but Forexchief charge less than $1. When the market is very volatile, the spreads reduce greatly. I don’t pay any additional charges on trade. Lastly, I haven’t experienced any issues when withdrawing money.
In general, a good broker, both in terms of execution and deposit/withdrawal of funds. Separately, it is worth noting the very polite and qualified support. On call 24 hours on weekdays. In my opinion, ForexChief is a good choice for a trader. Especially for beginners (the bonus system is very good).
I am very impressed with Forexchief, especially how they have handled the volume of my trades. I find the platform to be extremely stable. There is regular maintenance of server to keep the speed of execution same as always. Trading conditions are still okay, but the server is one of the most advantages of using this broker.
Frankly speaking, Forexchief is more suitable to news traders and scalpers. If you care about low spreads and slippage free execution, this is the right broker for you. It is one of the few brokers that allow such without restrictions in any way. Withdrawing profit is not a problem. Highly recommended.
I have only one word "Liquidity". This feature is always underestimated. This feature is very important and has a direct impact on your trading process. ForexChief has developed its own stream aggregation architecture that allows the company to have a significant reduction of spread sizes, slippage sizes, and percentage of refused orders.
I recently registered with Forexchief to get high leverage. It's amazing how such a stable broker could offer leverage as high as 1:1000 on ECN account. My leverage for commodity and stock trading is even up to 1:100. This is a rare service to find. I have no issues whatsoever with moving my money in or out. Nice one.
I have seen three advantages of using Forexchief that will make me stick with this broker for a very long time. First is the ease of doing business. I find it easy to open trades and get fills at good prices and quickly. Second, I am able to use high leverage up to 1:1000 at any time, plus lower spreads. Thirdly, the ability to withdraw money or fund my account as fast as needed. I feel my money is in good hands. I will be referring my friends to this broker.
Forexchief is just like most brokers that offers high leverage. The difference is that they don't joke with their traders. From withdrawing money to using profitable strategies, this broker makes sure that I get the best deal. No useless slippage and no freezing at crucial hours. The longest I had to wait for withdrawal of profit was 3 days by wire transfer.
If a broker allows you to make money without issues, then it's a good broker. Forexchief demo account was smooth, I made 200% profit in two months. I replicated it on a live account and made 120%, which is not bad because there must be a difference. I did that with another broker and got -90%, equal to losses. This shows forexchief is good to use, they don't trade against me.
My first criteria for any broker is low spread and fast execution. This also includes fast closing of trades. I am a serious scalper and this is very important to me. I need to be able to enter and exit as quickly as possible. Thankfully I am doing this with Forexchief mt4 and all is working smoothly. I love it.
Good broker. Registered in 2018 and still with them. Love it.
