ForexChief.com Review

4.024 · 33 REVIEWS
Updated: Oct 20, 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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4.024 · 33 REVIEWS
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Traders Reviews

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 During this time, I have traded, made some money and withdrawn twice.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..
 
Delta, Nigeria,
Oct 12, 2020,
Registered user

Btc deposit is hard

Service use: Live

Length of use: 0-3 Months

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
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.
 
Kragujevac, Serbia,
Aug 17, 2020,
Registered user

Robot is Working, will continue to use

Service use: Live

Length of use: 0-3 Months

Update to my previous review here. I had no other choice but to seek help from the seller. Gave him my login and he helped me see where the problem was. Bottom line is the Robot is working smoothly. Obviously this had nothing to do with the broker. This was my only grievance with Forexchief.

Aug 12, 2020 - 2 Stars Robot trading does not work with this broker. I bought a robot to use and increase my profit. It is a successful robot with proof from a vendor. The vendor gave me an investor password on mt4 to check the working of the robot. Yes, it worked fine on his mt4. I also demanded to see the performance on a live account after that. Works on his live account as well. He uses a different broker. I have about $8000 with Forexchief and I have open trades with a few weeks left. I never used an EA or robot, but TOS, states that there is no restriction regarding the use of robots. So, I bought the robot for $250, with instructions on how to install. I did everything right. All files were uploaded, and all in place. The problem is that there is no connectivity, and it is not running. Does that mean one cannot use a robot with this broker? I am very sure the problem is with Forexchief mt4, because the review of the robot from other traders is positive and means it is working on another broker mt4. I have contacted Forexchief and the agent said robots are allowed. I feel frustrated with this issue. Especially with the fact that support is not able to do anything for me. Until this robot works, I will give you 2 stars

Reply by ForexChief submitted Aug 17, 2020 Dear teodora stojkovic

ForexChief has no restrictions or any kind of limits for Robots/EA, moreover we are most welcome for trading with EA. If you send us some more information via Ticket, our technical team will be glad to help you to make correct MT terminal settings.

BR
ForexChief Representative
 
Abuja, Nigeria,
Jul 27, 2020,
Registered user

Everything good

Service use: Live

Length of use: 3-6 Months

This is a review update. I got an email prior to the first review, so I reversed to my usual Bank withdraw. I have little knowledge about the rule so no one should blame me. Anyway, I got money on Friday. I'll continue using Forexchief. Regards

Jul 21, 2020 - 2 Stars Hello forexpeacearmy, my account number is 1567883. I want to report this broker of fraud. I have been trading with Forexchief for 4 months and I have made profit and withdraw money three times. Those three times were smooth.
On the 15th of this month and put another withdrawal of $700 of my whole balance, I waited but no alert received. I checked my account the next day and still see my balance same. Nothing changed, as if I never put in withdraw request.

So I thought maybe the first time was a mistake. On the 17th, I did withdraw again and waited the next day. Balance is still the same, no change. I call customer service and they said to investigate. Then I get email that my withdrawal cannot be processed. Why? I want to know why? I only need this money for something. Then I will deposit again and trade. But now broker won't give me money

Reply by ForexChief submitted Jul 23, 2020 Dear jamesharry777



According AML rules you must use the same way for deposits and withdrawals, which means you just need to withdraw funds by the same option, which you have used for deposit. As we see now you have already created correct withdrawal request and it was successfully procced



BR

ForexChief Representative
 
Brazil, Brazil,
Jul 16, 2020,
Registered user

Smooth and Easy to Use Broker

Service use: Live

Length of use: 6-12 Months

I’ve always said the genuineness of a broker is reflected on their trading conditions. Forexchief has a flexible trading condition that gives room for multiple trading strategies on one platform. This is the first advantage I’ve discovered so far. I have used other brokers and from experience only few of them are like Forexchief; who smile when you make money. Others just frown and look for ways to crumble you. It's only 7 months now and I am happy trading with Forexchief. No issues whatsoever.
All messages to customer service have been handled on time in a professional way. The agents are experts who have in-debt Forex knowledge. Lastly, adding and withdrawing funds is as smooth as it should be. No complications on 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.