ForexChief.com Review Visit site

Updated: Jan 20, 2020
3.524 · 16 REVIEWS
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About ForexChief.com

ForexChief is a forex broker. ForexChief offers the MT4 and MT5 desctop, and mobile forex trading top platforms. ForexChief.com offers over 35 forex currency pairs, gold and silver for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:1000:1
Minimum to Open Live:$50
Established:2014
Address:1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu
Contact:info@forexchief.com, +65 3159 3652
Regional offices:
Regulators: VFSC #14777
Prohibited countries:
Trading platforms:MT4, MT5
Mobile Trading: Yes
ECN: Yes
Currencies:(40+)
Cryptocurrencies:(5+) Bitcoin, Litecoin, Ethereum
CFD:(15+) Gold, Silver, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods:Bank Wire, VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney
Withdrawal Methods:Bank Wire, VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney

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3.524 · 16 REVIEWS
Forex Peace Army
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Consumer Reviews

İstanbul, Turkey,
Jan 18, 2020,
Registered user

Broker was patient with me

Service use: Live

Length of use: 0-3 Months

Well, Forexchief has finally cleared the air. I did not understand the margin requirement in the start and sorry for this. I take it back that Forexchief is liar. Everything is fine now.

Jan 9, 2020 - 1 Star Still same response from broker. They said I can change my leverage to 1:1000, which I don't see there. I want the broker to know I have given them 1 star for poor service. My real account number is 1160145. FPA please update my review. Thanks.

Jan 7, 2020 - 1 Star Liars. My name is Ahmed. I opened an account and deposited $3000, since I was promised a higher leverage. The broker said 1:1000 leverage is allowed but I am not able to access it. Chat support said I can only use 1:200 on my trades. I still don't understand why and no real solution for me.

Reply by ForexChief submitted Jan 13, 2020 Dear Ahmed



Seems you did not see the rules on the website about leverage up to 1000.

https://www.forexchief.com/trading-conditions/margin/



Please read carefully and try to trade using demo-account at least some time... for understanding how it works. Hope it becomes clear



BR

ForexChief Representative
 
Johannesburg, South Africa,
Jan 3, 2020,
Registered user

Update to " Scammed and disappointed!"

Service use: Live

Length of use: over 1 Year

I apologise for the time taken to respond. My issue was resolved with Forex Chief. As I had stated in my last review, I have been using Forex Chief for just over a year, I had no reason not to trust them. What happened to them was an honest mistake on their part. They resolved my problem almost immediately after I had clarified my complaint to them.

Dec 16, 2019 - 1 Star I'm really disappointed by this broker. I've been using Forex Chief for about a year now. I've recommended the broker to other people and I had never had any reason to not trust them until today.

I had pending orders on CADCHF pair in Forex Chief as well as other brokers. I noticed that my orders had been triggered on Forex Chief , however on other brokers the orders on the same positions were not triggered and the charts (on the same timeframe) look completely different. They triggered my trades fraudulently. I have pictures to prove it.

Jul 19, 2019 - 5 Stars Haven't had any issues, They respond to my concerns on time . Best broker I've ever used.

Reply by ForexChief submitted Dec 18, 2019 Dear Wandz



As we explained there was a technical failure from liquidity provider side, we are sorry for inconvenience, your positions were corrected to remove the losses



BR

ForexChief Representative
 
Timisoara, Romania,
Dec 19, 2019,
Registered user

Very satisfied

Service use: Live

Length of use: 0-3 Months

My issue is solved. I was given a swap-free account and payment I received. I have put money in the new account, there is no more charge on trades like before. Thanks Forexchief. Cheers!

Dec 13, 2019 - 2 Stars I am new Forex trader with little experience. I am Islam religion. I open account with Forexchief broker three weeks ago and start trading. My problem with them is when I saw a fee charge on my account I was an angry because my Islam does not agree with interest fees on banking. I am not happy with this broker. The chat people cannot help me too. My name is Rohny, account number is 1167205. Pardon My English. I have put withdraw for all my money, but they delay.

Reply by ForexChief submitted Dec 17, 2019 Dear slobodan.mirsan



If you leave open position to the next day, you’ll be charged “swap”, which is usual thing according client agreement, but for muslim clients ForexChief provides swap free accounts. If you'd like to add such option you just need to send relevant request.



Regarding withdrawal request it was successfully processed within a day according time specified on the website in section "Deposit and Withdrawal"



BR

ForexChief Representative
 
Quebec, Canada,
Oct 18, 2019,
Registered user

Good beginner broker.

Service use: Live

Length of use: 6-12 Months

I have to say ForexChief is a very nice broker but they have some problems that they could work on. I would mostly recommend this broker for beginners and smaller accounts and I will explain why.

First the good, there is a lot to like here. The customer service was nice and quick. They have a nice selection of accounts with both cent and classic accounts both with MetaTrader 4 and 5. Withdrawal was fast and I had my funds in my Skrill account in less than 12h and their inner exchange rate could not be better. I must admit that I was skeptical at first since I used the old Welcome bonus of 100$. I was expecting them to find an excuse not to pay me but everything was fine.

Now for the part that's not so great. I need to say first that none of this is game breaking. The biggest problem is slippage, sometimes my trades would close in a small loss with ForexChief when other brokers would close in profit (both trades where close at the same time and used the same EA). This only happened in sharp movements however and wasn't much of an issue since it rarely happened. At least not with the small lot size I used most of the time. The second problem was with execution. When using larger lot size like 0.5 it could take up to a few seconds to open the order. This is not a big problem if you don't do scalping but it's definitely something to keep in mind.

I definitely recommend ForexChief but if you plan to use a larger lot size you should keep the delay and slippage and mind.
  1 trader has found this review helpful
Ogun, Nigeria,
Sep 21, 2019,
Registered user

Nice broker!!

Service use: Live

Length of use: 0-3 Months

Hello, my name is Solomon, I had some issues with this broker after I made a deposit and my account was not credited due to an error in transfer. I want to confirm that the said money was sent back to my bank account. My bank explained everything to me that credit card errors refund takes time to be reverted. I got the funds back within a period of 7 days. I made deposit again and it went through, my account was funded and I have since started trading. So I want to make it clear that there was no foul play by the broker. In fact I am impressed with their platform and trading conditions. Its a nice and straight forward broker. I won't fail to write here if any issues arises.

Sep 11, 2019 - 2 Stars My name is Solomon and I have been using Forexchief demo for a while now. So two days ago I decided to step up my game by registering a real account and made a deposit of $250 by my bank Master debit card. During the deposit there was an error.
Before I could think of trying again, my bank account was debited, which means money has gone to Forexchief account, but my trading account remained blank for hours. I contacted Forexchief and they claimed the transaction did not succeed. How come my account is debited.
Where is my money? I called my bank and they said I should contact Forexchief. Is this broker a cheat? It's been two days now and my trading account is blank, my money is nowhere to be found. I need my money back. This broker is bad for business.

Reply by ForexChief submitted Sep 15, 2019 Dear Solomon



As we explained you before, the payment was declined by bank acquirer, its not on our side. Then we have contacted with processing team and as we believe funds should have been already returned to your card.



BR

ForexChief Representative
 
abuja, Nigeria,
Jul 7, 2019,
Registered user

Very Professional Broker

Service use: Live

Length of use: 3-6 Months

Few days ago I was angry with the broker regarding fund withdraw and I wrote about it here. I would like to also publicly say that I was at fault. I later saw the company message on my spam folder. I am sorry, I actually did input a wrong digit on my account number. I uploaded a new document as well. I received money to my bank account on Friday evening. Everything has been perfect with this company until this misunderstanding on my part. I give this broker 5 star rating for the way it was handled professionally. I will continue trading with Forexchief for sure. Thanks to FPA for a great platform as well.

Jul 1, 2019 - 1 Star Forexchief has been an excellent broker in terms of their trading conditions, but I don’t know what is going on right now. My account number is 1077938 MT4 Directx. I started trading with Forexchief three months ago with a starting capital of $6300. After a series of consecutive profits, I decided to withdraw money.

I placed a withdrawal request of $2300 two weeks ago via bank transfer, but I have not received my money till now. The time expired and withdrawal was automatically cancelled. I don’t understand, maybe it was due to banking holidays, but am not sure. I have submitted my passport for verification and I did not use any trading robots or violated any rules. So to be sure, I placed another request on Tuesday last week, but still no response. The money did not even leave my trading account up till now. I have sent emails regarding the issue but no response. If the withdraw amount is too large, at least the company should reply my email and explain things to me.

Reply by ForexChief submitted Jul 3, 2019 Dear temitopefx



As we mantioned in your ticket in the Personal Area, at the first time you have specified wrong bank account number (if you click to Operation ID in the Payment History you will find there appropriate comment). Also at the second time we've found your documents has expired and you were asked to updalod fresh passport (coz you know about AML rules of the banks), once you did it, the transfer was succefuy procced. We expect you should already received the payment or it should be within 1-2 days



BR

ForexChief Representative
 
Pakistan, Pakistan,
Jun 30, 2019,
Registered user

They do not admit their fraud.

Service use: Live

Length of use: 0-3 Months

Forexchief lounch the bonus compain for just to earn money from peoples.as we can see privious reviwes of peoples who getted this bonus and complete the conditions but forexchief dont want to pay him. When they register their case here then broker pay their money.
My case is same like them but broker dont want to pay me still.my case and there replies are here.
1.i ask why you give me the bonus after cancel this permotion.
Reply. You scan old qr code and get bonus by fraud.
2. I ask what is fraud in it.while you provide the code and ask me to scan .and i scan the code and you add the bonus.
Reply. You scan old qr code and get bonus by fraud
3. I ask why you not update you system for not adding the bonus by scaning qr code.
Reply. We update and qr code not shown in member area and you scan old qr code.
4. I ask why you not update system for not adding bonus by scaning any qr code old or new.
Reply. You have to get fresh qr code and to scan it.
5. I ask why you not telling me after adding the bonus that this bonus added by mistake.
Reply. We dont know that time you getted this bonus at 13.6.19
6. I ask you support checked my trading history.how can it possible that they checked my history and not know about bonus date?
Reply . They dont know about it.
7. I ask now who getted the spreads and commossion of my trading nearly 400 $ and who getted my profit 105 $ if bonus was wronge added.
Reply. It does does not matter.you get the bonus fraudly.
8. I ask if i get it fraudly why you not remove it when you checked my trading history.
Reply. We dont check bonus adding date.
9.i ask you genrate thw code. You add the bonus. I trade at your server. You get the spreads and commission and at withdrawal time you steel all my money why not tell me during trading.while your managers check every account at every trade.and your support also checked my trading history.
Reply. You get the bonus after the offer ended.
.
Dear this broker give me the bonus by scaning old qr code. They know about this that i get this bonus by mistake. But they not inform me during my trading and earn commisdion and spreads silently but at withdrawal time steel all my money by telling this offer ended.
Fraud and fake broker.

Jun 20, 2019 - 1 Star In short My clear quistions are these.
.
1. Why you add this bonus in my account at 13.6.19 if this was closed at 11.6.19.
2. If this added by mistake by yor system then why you not cancel it when i told your support that i have 100 $ bonus and check my trading history.
3. Why your support told me that i can transfer this profit or withdrawal if i have this bonus.
4. Why you cancel my withdrawal when i complete the mountain of turnover.
5. If this bonus was fake then i have traded 45 lots at witch amount.
6. Who earn The spread and commission of my 45 lots.
7. Where is gone my profit 105 $.

Jun 20, 2019 - 1 Star I have hear this many times.but this is not the answer of my questions.
We have to decide, who is wronge in this matter.
If i am wronge then i have no write to get withdrawal.if you are wronge then you can not stop my withdrawal.
We decide now.
.
Lets see,
I have register at 10.5.19 and click at wellcome bonus.
Then you issued a barcode fore my account,( remember that you issue a barcode for my account).
And guid me that when i insatall your apliction and scan your issued code then i will get 100 $ bonus. 
So i saved that code.
.
i scan that code at 13.6.19 and you added the bonus in my account.
.
Now the issue is this,
You said you have close this offer at 11.6.19. write?
.
But you issued the barcode for my account at 10.5.19.
So i am elligiable for this bonus and you add the bonus when i scan that code.
.
Now your faults are these.
1. If you close the offer then you have to cancel all generated barcodes and to remove this offer permananly but you does not do this.
2.
Ase i mention earlier , if you give the bonus by mistake then you have to cancel it when i told you at live chat, that check my trading history and tell me my turover.But you not done this and let me free to trade.
4.
When i ask your support that i want to transfer my profit in other account to trade more then he guide to open account and submit support ticket. He even not tell me that this offer ended.
5.
Your support told me clearly that if i have this bonus then i can withdrawal profit. And i have this bonus.
6.
If i was not elligable for this bonus then why you give me the bonus.
.
So
You give me the bonus becouse i have registered the account before 11.6.19 and you issued the barcode of wellcome bonus for my account before 11.6.19. 
Therefore you give me the bonus. So why now i am not elligiable for withdrawal?.
Barcode given by you.
Bonus added by you.
You have not told me about this during my trading.
You let me free to trade and get the spread and commission perfectly and earn 505 $ by my trading.
But at withdrawal time you said bonus ended.
Now according to rules you have played with my emotions and hopes.waist my time.and make me fool.
Now what you should have to pay for all this?
.
Now its your turn to tell me my fault if you found any?

Jun 19, 2019 - 1 Star My name is allah daad and i am 46 year old man and in forex trading since last 11 years.
My account with forexchief is 1215495 witch i have registered at
10.5.19 to get there 100 $ wellcome bonus for cheking there services.but when i read the rivews about this broker then i was afraid to choose it as my permanent broker.
.
But after 1 month i decide to check them by there 100 $ wellcome bonus as i have no fear to loss my money.
.
So i scan the code via aplication and they add 100 $ in my account.
I start the trading.
.
During trading i was remain in touch with there support for asking my trading turnover.
.
in 4 days i have complete there huge mountain of turnover nearly 45 lots and my remaining profit
105 $.
I have found there spreads very good.so i asked there support that i want to continue trading with them and dont want to withdrawal.
.
So they happily advice me to open a new account and submit a support ticket to transfer funds in new account.so i have done this.
.
After that i decide to check there withdrawal services so i submit a withdrawal request and update the ticket not no transfer the balance and sent withdrawal.
.
And surprised to see the reply in ticket that the bonus offer ended at 11.6.19 so i can not withdrawal. And they reset my trading account 0000 and delete all trade history.
Now the points witch i have noted, that confirm this broker as a fraud are these.
1.
If they closed there offer at 11.6.19
Than why they gave me bonus at 13.6.19.
2.
If they gave bonus by mistake then why they not writenoff it when i was trading and in touch with there support for trading turnover.
3.
When i chat with them and they checked my trading history Why there support not telling me that this offer ended and dont waist the time.
4.
When i complete turnover and asked them to transfer money in 2nd account, everything was fine.
But when i submit withdrawal request they reject the bonus.
5.
After this i asked there chat that why they not told me that i can not withdrawal and bonus ended at 11.6.19. They told me it is not possible that your withdrawl rejected and take 15 mint to confirm and they say sorry that he can not help me.
.
After that i submit a ticket and got horrible reply that i have used technical maintanence to get there bonus at 13.6.19 while offer ended at 11.6.19.
It means they called me international hacker who hacked there system for getting there bloody 100 $ bonus.strange.hahaha.
.
Now they delete my member area and not replying on live chat.
.
I dont know the traders who post a nagitive rivews here and why they changed them in good rivew. I think they have done this only for money.
This broker is realy a fraud and scame broker.
.
Now let me clear what he getted by this 100 $ bonus.
If someone loss this bonus then broker loss nothing becouse they dont sent the trades in market and it just like a demo account loss.
But when traders earn money and they found him in profit then his trades sent in markets and they earn money by spreads and commission.now only from me they have earn above 400 $ by my 45 lots trading and also take back there 100 $ and take my 105 $ profit also by creating any reason.
So they earn 505 $ only from me.
.
Now they offer 500 $ bonus instead of 100 $. Hahaha.
This is an other good trap for snatching money.Read there terms.
I explain it here.
You can not loss the bonus but only can trade.it mean you can use huge volume to trade and let your account wash fastly and when you loss reache at your own funds they writenoff ther bonus and your account washed.
You have to trade huge volume of trading with your own funds for getting withdrawal there bonus.and in this try you lost your funds. If you complete all condition then they reject your withdrawal by creating any reason.
Dont waist time . This is confirm a fraud broker.
.
I am an old trader and in forex trading from 11 years.So i advjse you dear forex traders and new comers dont choose this broker.even not get there bonuses that these are only waist of time and it will ended in frustation and tention.

Reply by ForexChief submitted Jun 20, 2019 Dear Allah daad

As we said you many times, Welcome Bonus $100 was closed at 11 June 2019, and official news is placed on website

https://www.forexchief.com/about/news/welcome-bonus-500-06-2019/

but using technical vulnerability you've got the bonus at 13 June 2019, after date when promotion is over ..of course bonus was cancled (and not just becouse company has such right) but becouse such promotion WAS CLOSED at 11 JUNE 2019

If you like bonuses so much, you can take Welcome Bonus $500

BR
ForexChief Representative
 
kololi, Gambia,
Jun 17, 2019,
Registered user

poor customer support

Service use: Live

Length of use: 0-3 Months

its a little relieve seeing good comment about forexchief broker here, i have been trading with the broker for just two weeks now with the bonus and i can say the mt4 platform is cool, but zero customer support based of what have seen so far.
 
Reply by ForexChief submitted Jun 20, 2019:
Dear geezyben

We have many channels of helpdesk, including Skype, telegram, Facebook, Viber .. and others. Our support team works 24/7 with different languages. In case if the problem requires time for investigation, our team may ask you to create "Case" in Kayako ticket system. But be sure all issues will be investigated and detailed reported.

BR
ForexChief Representative
Lagos, Nigeria,
May 18, 2019,
Registered user

Really nice broker

It's been a month and two weeks since I started trading with Forexchief. I have studied some their educative articles and trading strategies. The materials were really helpful. I also used their $100 bonus to practice on live account. I lost the money anyway. I deposited $260. So far I have made progress with my reading skills. Impressed with how their chat agents responds to my queries and complains. I really like this broker, so I will rate this broker 4star, since I am yet to see the best of them.
 
Pakistan, Pakistan,
May 15, 2019,
Registered user

Now found Forexchief is a good and honest and customer friendly broker

Hello all readers.
I am very thank full to forexpeacearmy to provide such a good platform for solving traders and brokeres misunderstandings.
I have post a privious review that forexchief does not clear that what conection they have found between my and another account . Now its clear that they found multidirectional trade who other trader open with same volum and at same time as i have open.
So in this case the broker is write . When they found two accounts tradind at same time and same volume then its a suspicious activity.
So i admit the errors witch was done by misunderstandings.
And i apriciat forexchief that they will give me 100 $ as good will.witch i can withdrawal.
I recomend this broker as good caring customers friendly and have goodwill for traders.
Thanx porexpeacearmy and fotexchief.

May 13, 2019 - 1 Star Forex chief is heavely wrost and little good broker.by spreads and order exicution its good.
But withdrawal and permotions they are scamers.
I have joined F.C nearly 15 days before. To test there services i have getted there 100 $ bonus. I have earned 388 $ profit. But then i come to know that i can withdrawal only 100 $ maximum after 50 lots trading. So i spent entire profit to complete trading lots. And after completing 45 lotsor 10000000 $ turnover i have remaning 293 $ equity in witch i have submit 100 $ withdrawal request. But surpriesed to show the canslation of withdrawal. They says i have getted the bonus twice.but not explain that how can they come to know that i have getted the bonus twice.any ip address match? Any device match? Any documents match? Any phone no match? .
But the reality is nothing match. But they cancel my withdrawal. I can say that this is a poor broker of vanuato with cheap regulation. They have not much money to give there traders but they just want to get money by peoples deposit. So therefore they have low spreads and 100 $ bonus to atract peoples to make a deposit.
I can say they are not a trust worthy broker.
I want to make deposit but fortunatly i have not complete funds in my skrill account.so i have postpond deposit and now i think i am lucky.
I am still in waiting for clarification and getting the withdrawal.
My account no is 1213565.

Reply by ForexChief submitted May 17, 2019 Dear FPA admin



Client 1213565 has broken the rules because of misunderstanding and agreed with that bonuse was canceled according accepted rules. As we asked him, he sent a new comment regarding this case, could you please check and update this review, thanks



BR

ForexChief Representative
 
Forex Peace Army
Review moderation team note
5 Star rating removed.

This reviewer provided evidence to the FPA showing that he was forced to confess to rules violations he claimed he had not committed.