ForexChief.com Review

4.039 · 35 REVIEWS
Updated: Nov 26, 2020 · Visit site  · Is this your company?

ForexChief is a forex broker. Forex Chief offers the MT4 and MT5 forex trading top platforms. ForexChief.com offers over 35 forex currency pairs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

ForexChief.com

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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4.039 · 35 REVIEWS
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Traders Reviews

Rangpur, Bangladesh,
Nov 25, 2020,
Registered user

Fully verified

Service use: Live

Length of use: 0-3 Months

Sorry for the picture quality. Thank you, my account is now verified. Hopefully we wont have any problems going forward.

Nov 17, 2020 - 2 Stars I have been looking for a decent broker like Forexchief, finally found and I have registered an account 5400875. I actually registered through a link from here. I started with a demo account and now I am happy with it and moved to a live account. All things easy as of now. I had this bad experience from a broker called piggy fx; the moment I wanted to withdraw money they asked me to verify my identity. I sent documents and was rejected for no bloody reason. Thankfully my whole money was 56 usd. So I walked away.
Due to this experience, I want to verify my identity with Forexchief before doing any transactions. I have sent all documents and I am still waiting for them to verify data. Too bad it seems I have to wait a whole month to get verified. Lol... I might as well walk away.

Reply by ForexChief submitted Nov 23, 2020 Dear juliennehallina



According KYC rules we must request high quality photo or scan of the document, where all information is clearly readable. As we know once you had uploaded the appropriate file, you ve got "fully verified" status within 10 minutes.



BR

ForexChief Representative
 
Cairo, Egypt,
Nov 19, 2020,
Registered user

Not able to open demo or real account

Service use: Demo

Length of use: Have not used

I tried opening a demo account with them. They require an email and a mobile number verification. The problem is that I don't get their sms that includes the One-time password.. I tried many times and finally resorted to support. My phone number is reachable for international SMS and I receive SMS from google, neteller and other companies. Support asked me to omit the 0 at beginning of my number. I tries with no success. I was chatting with support via whatsapp and told them" you are seeing my number in whats app please verify it. It should be sufficient proof that the number is mine." They replied that they will not verify it like that and insisted that they have no technical issue and that the problem is my phone number. they told me to try different number. I tried two other phone numbers with no success.They told me that they can't help!
I was serious about opening real account with them but they could not help me open even a demo.
Very pathetic system of procedures. Very pathetic technical performance. Very pathetic mentality.
 
Reply by ForexChief submitted Nov 23, 2020:
Dear dergham

If you could not receive SMS then just push “Request a call” button, you will get a call with OTP. Let us know if you need any additional assistance

BR
ForexChief Representative
São Paulo, Brazil,
Nov 3, 2020,
Registered user

Nice Broker to use

Service use: Live

Length of use: 6-12 Months

So far Forexchief has restored my faith in online Forex trading. The broker I used previously was disappointing, no need for details. The ease of registration and trading with Forexchief is really encouraging. My neighbor referred me and he has withdrawn money multiple times in my presence as we sometimes make trade setups together. I was unfortunate to have used a different broker then. Forexchief fees never exceeded 0.07 spreads on exotic pairs; overall, the trading is cheap with impeccable timing of orders. I really look forward to many months of fruitful relationship with these guys.
 
Delta, Nigeria,
Nov 1, 2020,
Registered user

Update to my previous review

Service use: Live

Length of use: 0-3 Months

Well I wasn’t complaining about crediting my account, I was talking about how to know the right amount equivalent to in bitcoin. But thankfully I am now able to use the QR code. I have changed my rating to 5 star, which I think is deserved. There is not much difference with the demo account, spreads and execution still fast. I love it.

Oct 12, 2020 - 3 Stars Not bad at all with spreads and order opening. I have used demo for three months. It was perfect, now I want to go live. But depositing money with bitcoin is frustrating. I am not able to make transaction amount equal to the deposit amount. I wonder if I should start counting myself, lol.

I have used other cryptocurrency exchanges and they have auto way to do it. But Forexchief The process is complicated for me. This is a big turn off. Moving to the next platform anyway.

Reply by ForexChief submitted Oct 16, 2020 Dear Patrickster

If you’d like that crypto transfer credited automatically, then the transfer amount should exactly match the amount you confirmed in the Personal Area, otherwise it won't be credited automatically. But you can send message in chat anytime and team will check the transfer quickly.

BR
ForexChief Representative
 
Shkoder, Albania,
Oct 19, 2020,
Registered user

Very convenient for me

Service use: Live

Length of use: 0-3 Months

My name is Armela and use Forexchief Islamic account mt4. My request was approved after I submitted my ID to prove I am a Muslim. I am glad because all process was fast, actually done within a day. This was four months ago. During this time, I have traded, made some money and withdrawn twice. It is not easy to find a good broker that treats us fairly from this region, especially with the use of certain payment processors. This broker has made Forex convenient for me. I also want to appreciate the effort from the staff as well. Thanks.
 
Assam, India,
Oct 13, 2020,
Registered user

Best Broker Forever

Service use: Live

Length of use: 6-12 Months

Sir, I M from India. This Broker is Super. Best Broker . Best Part Is Local Deposit and withdrawal from India and low ECN/STP Sprad.. No Slipage . And I Try More Than 100 Broker.. Best Broker for Every Asian.. Great Customer Support..
 
Mostar, Bosnia and Herzegovina,
Oct 9, 2020,
Registered user

All is good!

Service use: Live

Length of use: 0-3 Months

I am only going to assume he was talking about other payment methods. Thank you for replying. I have money in my account now, done 12 hours ago. i think I'll switch to bitcoin or something else for quick deposit next time. My Friend actually told me to use Forexchief for better trading conditions. I look forward to having a fruitful relationship with you guys. Thanks

Oct 6, 2020 - 1 Star Easy registration, but I made a deposit (account number 5776545, Vedad Adin) via a local transfer and the manager told me over the phone that it would be credited instantly. Several hours have passed - no money! The support just told me about 1 working day. This is horrible, I wonder if both staff work for same broker, such a mess ... I am suppose to start trading by now, one working day has passed already. I feel suspicious at this moment.. Can I get my money back?

Reply by ForexChief submitted Oct 7, 2020 Dear umajan

The bank transfers take a time, at least we need a day to get confirmation from local payment agent. The conditions regarding “Transfer Time” for all options are opened for everyone, just take a look website

BR
ForexChief Representative
 
afula, Israel,
Oct 7, 2020,
Registered user

so way you block me??

Service use: Live

Length of use: 0-3 Months

i didn't replay because i give you 3 examples of your slippage and you "didn't see anything" , so i realize that its useless to bring more then 100 cases , waist of time. i work with 5 more brokers with the same EA that close and open position exactly by specific parameters , so i can compere easily and see when and were there is slippage and when broker deal against you, so don't bullshit me. honest broker don't shutdown account and block traders whiteout explanation, just because they complain . 3 time i asked you why you want me to close my account , and you didn't answer me. i think its approve my case!! first time i hear that money that deposit from my bank account cant withered back to there. this one i didn't receive the answer too. at least you been honest enough to send the money fast to skrill, so its nit all negative after all :)

Oct 7, 2020 - 1 Star these ForexChief guy is unbelievable , i complain to them that i have huge slippage and that what i receive - "according Client agreement paragraph 2.7 your account and registration will be closed within 2 days. Please close all positions and withdraw all funds before account will be blocked" . i try to withdraw my money back to my bank account an she told me - "unfortunately SWIFT transfer currently is not available" . you can win with this guys!!! seriously?? i deposit 1500$ with my bank and now you tall me i have 2 days withdraw my money before you block my account, and i cant receive it back to my bank account?? what a scam broker!!

Oct 1, 2020 - 1 Star huge slippage 20-40 points . i check more then 100 trades that i did ,and almost its never buy it or close it in the right price, and there spread's never been "zero spread" always 4-5 on EUR-USD + commission . i connected to them sent them all the prof they need, and yet they "don't see it" , bad service and greedy broker. i work with another 5 brokers and this on is the worst!!!

Reply by ForexChief submitted Oct 6, 2020 Dear afula

We are very upset such unfair words(

Firstly according your request we conducted a thorough investigation of the deals you specified in the claim, and did not find such huge slippages, we’ve provided you server logs as a proof, but seems you don't care about them. All your nervous replies sounds like the same “you are bad, your slippage 40 pips, fix it!!!!” but when we asked deal/order number, where you faced with such unreal slippage.. you reply nothing.

Secondly regarding spreads, we believe we provide one of the best spreads on the market, but of course zero spreads wont be seen very often.

As conclusion with all respect we hope that you will treat the facts more carefully and responsibly, instead just look for unreasonable conflicts, as you are doing now

BR
ForexChief Representative

Reply by ForexChief submitted Oct 7, 2020 Dear afula

You are not blocked, please be honest and confirm to everyone you received all funds within an hour after withdrawal confirmed from your side.

BR
ForexChief Representative
 
Reply by ForexChief submitted Oct 9, 2020:
You gave us 3 examples and you received full investigation for all 3 examples, with full server logs, where is CLEARLY SHOWN THERE WAS NOT SLIPPAGE which you tells... like 40 pips is fantastic

Your account was not blocked, you had been trading without any restrictions and you withdrawn all funds with a profit, means full amount within an hour.

We can confirm your registration is closed now, as we explained in ticket, but speaking openly in simple words the reason is you don’t want to listen ForexChief side, you don’t care about investigation and server logs, you don’t care on Limit and TP orders (which we offered to use to avoid any kind of slippage), you respond with negative reaction to all our suggestions

BR
ForexChief Representative
Ilesa, Nigeria,
Sep 2, 2020,
Registered user

Great experience so far

Service use: Live

Length of use: over 1 Year

I am happy to write this review, which Forexchief deserves. My name is Antony, I have registered account number 2020795. From the U.S I use an LLC International corp to carry out my trades.The reviews on this website helped me in finding a good broker to use. This is my honest review to help others make good decisions. For the duration that I have used Forexchief, would I recommend it? YES!!! If your trading requires tight spreads and a blazing server, then yes this broker is for you. Twice; Forexchief has given me extra credit to support my trade to enable me deposit money so I won't get cancelled out. For this reason I have come here to give a broker the highest rating. Say no more, feel free to use the platform.
 
Auckland, New Zealand,
Aug 26, 2020,
Registered user

Impressive services and trading conditions

Service use: Live

Length of use: over 1 Year

First it was the bonus that attracted. At the time it was a free $100 straight up after registration. I did not verify by ID before getting money, nor did I make a deposit. I used the money to start trading immediately. I did not intend to use Forexchief for long. But what I was able to accomplish with that 100 bucks made me realize how smooth things can go if I actually trade with this broker using serious money.

I added about $700 to meet the requirement of a certain strategy. I started last year and I am still here. The point of all this is that I underestimated Forexchief. Without a doubt this is the perfect kind of broker to trade with; in my opinion and from experience. I have not had any issue with this broker that made me want to curse. I am impressed by the speed of orders, low spreads and smooth financial transactions.
 

Frequently Asked Questions

Is ForexChief a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if ForexChief is a good broker. https://www.forexpeacearmy.com/forex-reviews/13623/forexchief-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent ForexChief community discussions: https://www.forexpeacearmy.com/community/tags/forexchief/

Is ForexChief regulated?

Forex Chief is registered in Vanuatu and regulated by Vanuatu Financial Services Commission under license 14777.

What is the minimum deposit for ForexChief?

The minimum deposit to open an account with ForexChief is $50 for all available MT4 or MT5 accounts.

What is the maximum leverage for ForexChief?

The maximum leverage for ForexChief is 1000:1 for all available MT4 accounts and 400:1 for all avaiable MT5 accounts.

Does ForexChief permit hedging and scalping?

Yes. Hedging and scalping are both allowed in ForexChief, as well as Expert Advisor.

How do you get ForexChief bonus?

How to get the welcome bonus on ForexChief?

  • Sign up and open standard trading account.
  • Choose “Enroll Welcome Bonus” on the replenishment form.
  • Complete operation and make sure the bonus is credited to account.
  • Complete the required turnover and withdraw the bonus and all profit.