ForexChief.com Review

3.935 · 55 REVIEWS
Updated: Nov 29, 2021 · 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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3.935 · 55 REVIEWS
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Traders Reviews

Desmond,
Abj, Nigeria,
Oct 12, 2021,
Guest

Really impressed

Service use: Live

Length of use: 0-3 Months

I set up a demo account with Forexchief two months ago. I used the demo for two weeks and every thing was okay. During the time, customer service did great, helped me a lot with newbie questions. I opened a live account afterward, with $200. Started small and I was able to make profit. I still use Forexchief because they offer good conditions for trading. I don’t have experience with other brokers, but as along as I’m successful with this one, I keep trading. While many of my friends complain about services from their brokers, I don’t worry. I have recommended this broker to a few. Fast withdrawal is also a bonus point. It’s a 5 star broker for me. My name is Desmond.
 
South East, Nigeria,
Sep 25, 2021,
Registered user

Update on my first review

Service use: Live

Length of use: 6-12 Months

I initially gave them 5 stars but current experience shows they are not worth 5 stars.
Any broker that will always have one reason or the other to cancel your withdrawal is a big no for me. It's creates an atmosphere of anxiety and uncertainty in your trading.
I have used both local bank transfer and Advanced cash to make deposit with Fxchief. I have also used advanced cash to make a withdrawal before.
I requested for a withdrawal yesterday and it was turned down. They said I should use local bank transfer. What's the point of having different withdrawal methods if one can't use them? The Advanced Cash account I requested withdrawal with was the exact one I used for a previous deposit.
I headed straight to Local bank withdrawal only to see a comment attached that local bank transfer could take up to 7 business days. What sought of nonsense is that? If there should be any faster method outside of e-wallet it should be local bank transfer.
This is making me doubt their sincerity as a broker.

Jul 22, 2021 - 5 Stars Forexchief has one of the best spreads I have seen in this Forex business. Trade executions are fast also, zero requote and a very responsive customer care. Withdrawals are very fast too. However, there are still room for improvement, like sending a mail prior to withdrawals and a mail after withdrawal. Overall, they are a good broker to trade with.
 
Reply by ForexChief submitted Sep 27, 2021:
Dear Fxmaiah

According to Client agreement if replenishing of the trading account was done by way of various payment systems, the withdrawal can be done only through those payment systems proportionally to amounts deposited.

Also in case if the payment has come by bank wire, then according to the rules to withdraw you must use the same bank account, from which deposit has come.

BR
ForexChief Representative
NG, Nigeria,
Sep 13, 2021,
Registered user

Still Preferred

Service use: Live

Length of use: over 1 Year

I returned to use this broker after a short break from Forex. Some things have changed. The spreads are lower and funding is now very fast. Forexchief treated me well 2 years ago despite the difficulty we get from my country. Two months into trading again and I am already making good profit. Order execution speed is perfect as usual.
 
UAE, United Arab Emirates,
Aug 4, 2021,
Registered user

Impressive conditions

Service use: Live

Length of use: 3-6 Months

One of the things I can say that separates Forexchief from many brokers like it is their simplicity. I registered 4 months ago to use 1:1000 leverage at the time. Yes, one can get up to that, but I reduced mine to 1:200. From funding, trading to withdrawal. Everything works fine. Only thing I am not happy with is that i did not get welcome bonus for my first deposit.
  1 trader has found this review helpful
Reply by ForexChief submitted Aug 9, 2021:
Dear Kimzqueen

We provide Welcome Bonus and No Deposit Bonus, please check Promo section on the website https://www.forexchief.com/services/promo/, there you will find instruction how to get them.

BR
ForexChief Representative
feni, Bangladesh,
Jul 27, 2021,
Registered user

PURE & BIG SCAM COMPANY forexchief.com

Length of use: 0-3 Months

dear FPA LOGIN TO METATRADER 4: 1259838 i got welcome bonus form forexchief.com. my account full verified by phone call & documents i made profit near 400+they gave terms 50 lot i fill up it in 1 month hard try but they. i requested for withdrawal just only for 46$ by pm money account .today i seen my account is blocked & hunt & scam with my hard ALL earn money.
  1 trader has found this review helpful
Reply by ForexChief submitted Jul 29, 2021:
Dear sayedbd

According to the rules of the bonus you were requested “ID confirmation photo”, upload the file in the Personal Area as requested, then you will be able to use No Deposit Bonus.

BR
ForexChief Representative
NG, Nigeria,
Jul 16, 2021,
Registered user

Easy to trade forex and crypto

Service use: Live

Length of use: 0-3 Months

Very convenient platform. Registration and verification process was smooth. 3 weeks testing period was enough for me. Did my first withdrawal and was sent in 6 hours precisely. I like this broker.
 
Caxias, Brazil,
Jul 5, 2021,
Registered user

High slippages

Service use: Live

Length of use: 0-3 Months

When I started operating in the broker all orders were perfectly valid. But when I hit about 10% of profits strange things started happening in my account, like: trades weren't closed and my orders were validated at over 15 pips (150 points) from where the price was.

I contacted the support and they said that the chart that appeared to me was not the same chart where my trades were held. What is the point of presenting a different chart?

The conclusion I have reached is that if you are looking for a serious broker run away from ForexChief, because if you profit strange things will happen to your account just as it happened to me.
  1 trader has found this review helpful
Reply by ForexChief submitted Jul 7, 2021:
Dear JeovaneReges

When you trade right after midnight in moment of poor liquidity, certainly you should be ready for slippages. We had explained your team that unfortunately we do not have LPs who will cover such trades by non-market price in moment of poor liquidity. But we are sure you understand this clearly when you try to catch spikes on the poor market.

We really doubt you find some broker who can manager such deals by price requested, but if you find it please let us know and we will add them in our LPs pool, thanks

BR
ForexChief Representative
indonesia, Indonesia,
Jun 17, 2021,
Registered user

Very easy to trade with Forexchief

Service use: Live

Length of use: 0-3 Months

I started trading with a $50 deposit. Fund was low but I just wanted to see how the broker performs. They offer a cent account that allows micro lots and made it possible for me to place many trades with such a low fund. It was enough to know all I want to know. I later made another deposit and am still making money with Forexchief. Trade execution is fast; taking profit is fast and also stops loss function without a glitch. Most important, withdrawing profit is easy. Nice platform for expert traders.
 
LG, Nigeria,
May 13, 2021,
Registered user

Good experience

Service use: Live

Length of use: over 1 Year

My name is Samson; I have been trading with Forexchief for over 13 months and I can verify that it is a very decent broker. It has been an interesting experience, because I have had some ups and downs. However, the down times has been my own undoing. Forexchief's platform has been rock solid and I urge no one to underestimate this broke.
My concluding statement would be that the trading conditions a very attractive. Such as lower spreads, fast orders and a commission free ECN account option. There is no broker without issues, how fast it is solved matters alot. All finance or technical issues does not last more than 24 hours. I have had only twice delay in withdrawal, but once I send email, I get it very fast. For this reason, I think they deserve a 5 star.
 
La Serena, Chile,
Mar 24, 2021,
Registered user

Good but not satisfied

Service use: Live

Length of use: 0-3 Months

The broker is actually not bad generally. The spreads are low and execution is fast. But I would prefer I don't get charged commission. I don’t like it and I have complained to customer service and they said nothing can be done about it. I signed up for an account without commission, but I see that they have charged me commission on all my trades. So I might not use for long. I was actually scrolling for other options of broker when I say Forexchief and decided to drop this note. Maybe if there is a solution in the future I would change rating. Thanks.
  1 trader has found this review helpful
Reply by ForexChief submitted Apr 2, 2021:
Dear Eva

As we understand you confirmed DirectFX account, which works with commission. If you dont want to pay any fee for trading, just open Classic account in the same Personal Area, and then make Internal transfer to the new trading account. Let us know if you need any additional assistance

BR
ForexChief Representative

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.