XM Forex Penguin
XM Forex Penguin

Forex Chief

Home » Top Forex Brokers 2021 » Forex Chief
Last Updated: Mar 16, 2021 @ 6:28 pm

Forex Chief Featured Image Big


A Quick Summary of Forex Chief

The broker ForexChief provides clients a universal platform for trading currencies and other financial assets in order to get profit from fluctuations in their rates. The financial company offers comfortable conditions for cooperation and makes significant efforts to avoid conflicts of interest between the company and its clients.

In the reviews about ForexChief, traders note the high quality of service, narrow spreads, and good speed of the trading terminal. The basic concept of the project is the creation of a universal platform for online trading in the terms of “Margin Trading”. The technological infrastructure of the project is based on the STP/NDD model, which allows not only avoiding a conflict of interest between the company and the client but also generally improving the quality of service due to narrow spreads and high speed of execution of trade orders.

🕵 Broker TypeECN, STP
📌 RegulatedVFSC (Vanuatu)
💰 Min Deposit$50
💹 EUR/USD Spread0.4 Pip
📈 Demo AccountYes
💱 Base CurrenciesCHF, EUR, GBP, JPY, USD
📊 PlatformsMT4, MT5, Mobile
💎 AssetsCryptos, Energies, Indices, Forex, Metals
📉 Hedging AllowedYes

Forex Chief Broker Details

Broker Contacts

Email Icon
Email
info@forexchief.com
Phone Icon
Phone
+65 3159 3652
Chat Support Icon
Chat Support
Live Chat Available Whatsapp Available Telegram Available
Social Media Icon
Social Media
Facebook Twitter Instagram

Company Profile

Company Icon
Company Name
ForexChief Ltd
Year Icon
Year Founded
2014
Headquarter Icon
Headquarter
Port Vila, Vanuatu
Regulated Icon
Regulated
VFSC (Vanuatu)
Country Icon
Countries Not Accepted
United States (US)
Broker Type Icon
Broker Type
Electronic Communication Network (ECN), Straight Through Processing (STP)

Trading Conditions

Demo Account: Yes
Minimum Deposit: $50
Minimum Withdrawal: $0
Maximum Leverage: 1:1000
Average Spread EUR/USD: 0.4 Pip
EA/Robotrading: Yes
Base Currency: CHF, EUR, GBP, JPY, USD
Hedging Allowed: Yes
Scalping Allowed: Yes
Negative Balance Protection: Yes
Swap Free/Islamic Account: Yes
Social Copy Trading: Yes
Trading Instrument Icon
Available Trading Instruments
Cryptocurrencies, Energies CFDs, Equity Indices CFDs, Forex Pairs CFDs, Precious Metals CFDs
Payment Processor Icon
Available Payment Processors
AdvCash, AliPay, Bank Cards, Bank Wire, Neteller, Perfect Money, SEPA, Skrill, WebMoney
Trading Platform Icon
Available Trading Platforms
MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile Platform

Licensing

ForexChief is a new and fast-growing Forex dealer that entered the financial market in 2014. From the first day of its release, the broker has set the highest standard for the quality of security services provider, which has interested and attracted many traders. ForexChief Ltd. was registered in the Republic of Vanuatu and conducts its activities, considering the requirements of the current legislation of this state, has a license with registration number 14777.

Customer Support

ForexChief provides high-quality and prompt consultation to traders from all over the world in several languages: English, Spanish, Indonesian, Arabic, Indian, Portuguese, Farsi, Urdu, Malaysian, Italian, French, Ukrainian, Bengal, Chinese, and Russian (at certain hours).

On the official website of the company, there are hotline phones, E-mail, a feedback form, and all popular instant messengers. ForexChief clients can use the services of a Live Chat Manager, which is available 24 hours a day, 7 days a week.

The company has friendly and qualified specialists, who are always ready to give a competent answer to any question, with any potential problems related to Forex trading or working in the personal account.

Platforms and Technologies

The company implements trading on MT4 and MT5 platforms. The extensive functionality of the MT4 and MT5 platforms is familiar to many traders with multiple timeframe charts, technical indicators, one-click trading, and many other features. Traders can also install their own indicators, which they can develop in the MQL programming language. Both platforms have stationary versions for PCs and mobile versions for smartphones and tablets with Android and iOS operating systems.

Trading Conditions

The STP/NDD model implies the broker does not interfere with the execution of financial operations to withdraw funds, which are immediately sent to the Interbank. ForexChief provides profitable solutions for novice traders. Among them, we can distinguish the following conditions for performing trade operations:

  • A minimum deposit of $50 or the equivalent in five currencies
  • Using NDD/STP technology
  • Availability of standard and cent accounts
  • Maximum leverage of 1: 1000
  • Work with a minimum transaction of 0.01 standard lots, including cent accounts
  • Execution type: Market Execution on all account types
  • Position accounting system Hedging or netting
  • Spread: market-oriented, on some accounts from zero pips, average spread for EURUSD 0.4 pip
  • Minimal slippage
  • Fast execution
  • Protection against negative balance

The site contains the specification of contracts; there is information about the speed of order execution. On average, the speed of execution of client orders, from the moment their arrival at the trading server until the confirmation is sent to the client, is 100 ms.

Traders have a choice between several trading accounts:

  • MT5.DirectFX
  • MT5.Classic+
  • Сent-MT5.DirectFX
  • Сent-MT5.Classic+
  • MT4.DirectFX
  • MT4.Classic+
  • Cent-MT4.DirectFX
  • Cent-MT4.Classic+

Traders can add new trading accounts, manage funds on their other trading accounts, and also keep free funds on Transitory Accounts in USD or EUR.

Demo Account

ForexChief offers a demo account that allows traders to trade forex without risking their own capital. A demo account can be opened for any amount of virtual money and can be configured for any MT4 or MT5 account. Demo accounts are not limited in number; therefore, a trader can have several demo accounts, both with a real account and without it. Several advantages of a demo account with ForexChief:

  • Base currency selection: USD/CHF/GBP/EUR/JPY
  • Platform selection: MT4 or MT5
  • Full use of tools, advisors, indicators
  • Using several demo accounts is allowed

Offered Markets

ForexChief traders have the opportunity to trade in five asset classes: currency pairs, metals, energies, stock indices, cryptocurrencies. All assets can be traded on the MT4 and MT5 trading platforms.

  • 60+ currency pairs, majors, exotics
  • 10 leading stock indices
  • Precious metals: gold and silver
  • Crude oil and gas, including WTI and Brent
  • Cryptocurrencies: Bitcoin, Litecoin, Etherium, Ripple on MT4 and MT5 DirectFX and Classic + accounts

Deposit and Withdrawal Methods

ForexChief provides its clients with various convenient deposit and withdrawal methods. You can replenish your account with funds in several ways:

  • Bank transfer of currency USD, CHF, GBP, EUR, JPY, AUD, CAD
  • Transfers from bank cards Visa/MasterCard
  • Through electronic payment systems – Bitcoin, WebMoney, Perfect Money, NETELLER, Skrill, Advanced Cash, FasaPay

The broker does not charge any commission for deposits and withdrawals from transactions. Some payment systems charge a commission for deposits and withdrawals.

Withdrawals are carried out during the time specified for each withdrawal method and the time applicable only to business days. Funds are credited instantly. Withdrawals from the account are made through the same method.

Growth and Development

ForexChief is constantly growing and expanding its presence where it is allowed by the rules and they have offices in Singapore, India, Nigeria. Growth and development are focused only on the client, with constant updating of accounts, the addition of new trading instruments in demand by traders.

ForexChief always meets the wishes of the client: increases trading conditions, increases leverage, expands financing methods that are convenient for certain regions, and its growth is clear evidence of this.

Education and Training

There is a “Library” tab on the company’s website – including useful information about trading and working on the currency exchange.

Besides, by clicking on the “Frequently Asked Questions” button, you can study the major problems faced by novice traders.

For novice traders, ForexChief offers a Personal Trainer service.

A personal trainer is an active trader with extensive experience in trading in the financial markets. You will receive the necessary knowledge to help you build your strategy and start making money steadily. The training course is developed individually for each client based on the level of his knowledge.

Bonuses, Promotions, and Offers

ForexChief provides traders and partners with promotions and bonuses actively. Many traders use bonuses such as:

  • Weekly bonuses for trading turnover: bonuses are awarded for each trade, regardless of the duration of the trade or discrepancies in the opening and closing prices.
  • Trade credits in the amount of up to 50% of the amount of the first deposit provided by the company, make it possible to increase the volume of trade operations. The broker does not require any interest for this, moreover, the user gets access to the withdrawal of funds received with the help of loans without restrictions;
  • Copying deals: if you are not yet confident in your abilities, but you want to consistently make a profit and learn the work of professional and most successful traders, then use the opportunity to copy their deals in the tab on the MT4 platform.

For partners, at the moment there are programs: White Label and “IB Pro”. For example, the “IB Pro” program is unique, the distinctive feature of which is:

  • Remuneration according to the CPA model up to $300 for each attracted client
  • Subsequent “perpetual” remuneration for the client’s turnover, calculated on a progressive scale – the larger the turnover, the higher the remuneration
  • The program works for many accounts on the MetaTrader 4 and MetaTrader 5 platforms
  • There is no condition on the minimum difference between the price of opening and closing a position (MTP)
  • There is no condition on the minimum time interval between opening and closing a position

Final Overview ForexChief Company

The company offers transparent and comfortable working conditions for its clients, including the opportunity to work on cent accounts for beginners. Over the years of working with traders, the company has become a leading name in the global industry, putting the interests of traders first and creating an environment that meets their requirements.

Forex broker ForexChief can be an excellent choice for both an experienced trader and a beginner. Loyal trading conditions, professional support, and timely execution of withdrawal requests make the company popular among users all over the world. The company has several undeniable advantages:

  • Low threshold for entering the market
  • Attractive trading conditions
  • A wide range of financial instruments
  • Cent and standard accounts of various types
  • The presence of a deposit-free bonus
  • A variety of analytical material
  • Good technical support

Each user soon will have pleasant surprises as expanding the bonus program and holding promotions. The main thing is to carefully follow the news on the Forex broker portal ForexChief.


Featured Brokers on Forex Penguin

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x