ForexChief.com Review

4.196 · 49 REVIEWS
Updated: Jun 18, 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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4.196 · 49 REVIEWS
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Traders Reviews

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.
 
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
Tirana, Albania,
Mar 2, 2021,
Registered user

Complete money received

Service use: Live

Length of use: over 1 Year

I don’t know how to update my review, so I decided to write another one. I want to offer my sincere apology to Forexchief. The money was removed by bank and kept in lien. There was an unresolved issue before now. So this has nothing to do with Forexchief. Please disregard the previous rant from me. Forexchief remains one of the best brokers I have used so far. Thanks..

Feb 24, 2021 - 1 Star Forexchief has been good to me. I made profits over the many months of trading. But I am disappointed in them, how quickly they could tarnish their image by stealing from me. I had $7800 on my account and I had to withdraw everything due to emergency. Maybe the broker is not happy I am doing this. The withdraw went through and I get credit to my bank account. What I saw is about 30% fee deducted from it. Wtf is that suppose to me. All the other withdraw, there was no fee. What changed? The customer service has not been able to give me clear answer. They claim money was not removed. They are thieves. I will post this on as many places if my money is not returned.
  1 trader has found this review helpful
Reply by ForexChief submitted Mar 4, 2021:
Dear Julians

thank you for update, really appreciate!

BR
ForexChief Representative
al-Bireh, Palestinian Territory, Occupied,
Feb 21, 2021,
Registered user

Cent Accounts are penalized

Service use: Live

Length of use: 3-6 Months

Minimum Deposits for Cent Accounts can be huge and disproportionate when using some transfer methods.
For example Bank Deposits SEPA minimum 500 USD.
For withdrawals, fees are not properly explained in the Help. Things are left undefined. For example:
For swift:
0.1%, min. 15 USD, max. 50 USD (or equivalent in another currency).
Use of Credit/Debit cards are also expensive.
2%, min. 5 USD/5 EUR
 
Reply by ForexChief submitted Feb 24, 2021:
Dear TinaBikers

Thats correct, the minimum amount for SEPA bank wire is 500 EUR, but please note ForexChief do not take any fee, so commission is 0% for deposit and withdrawals.
For SWIFT there is commission, up to $50 for withdrawals.
Cards fee is 2% for withdrawal because of payment service providers have expensive commission for this option. Also you can find Crypto methods inside Personal Area, which is 0% fee for both side.

BR
ForexChief Representative
Tirana, Albania,
Feb 9, 2021,
Registered user

Highly recommended

Service use: Live

Length of use: over 1 Year

No one likes moving from one broker to another. My goal was to find that perfect broker and stick with them for as long as I can. Then I found Forexchief 3 years ago. Guess what? It keeps getting better and better with these guys. There has been lots of improvement from when I started with them. The whole account setup and trading features is good for scalpers and news traders. This is from my experience anyway. I am just glad to be trading with their server and I seriously plead with the management to keep up this good work.
  1 trader has found this review helpful
Jonathan,
Anambra, Nigeria,
Feb 1, 2021,
Guest

2 years good experience

Service use: Live

Length of use: over 1 Year

My name is Jonathan; I am a trader with Forexchief for 2 years till date. I have tried others brokers, about 4 of them, and Forexchief seem to have an advantage. The spreads are better. Some years ago I was using another broker as a scalper, but I had serious issues with the spreads. I made profits, but the spreads kept eating up all the time. If you are a serious trader, you must choose a broker like Forexchief that offers very low spreads and has lower fees. If you don't, you will end up giving up profits to fees and spreads.

Secondly Forexchief is a no nonsense broker, they don't joke with safety of traders. My account managers always send me tips on how to protect my capital and how to apply proper money management rule on each trade. Their customer service agents are very nice as well.

Other features of this broker include fast withdrawing of money to bank account. Mt4 and mt5 is available with fast server. This is a review of my experience so far after 2 years. Thank you
 
London, United Kingdom,
Jan 23, 2021,
Registered user

I have Swap Free Account now

Service use: Live

Length of use: 0-3 Months

Not everyone reads instructions. I was hoping you will have this account without me asking to get Swap free. My previous broker had this. Well, I am glad I was able to get swap free afterward. Thank you.

Jan 16, 2021 - 2 Stars Hello, my name is Umeh, I am dropping this review so others may be careful when choosing this broker. If you want to use Forexchief because they claim to give a swap-free account, don't do it. It is deceit on the broker's part to claim on a website that they have a swap-free option. I even asked customer service to confirm this before registration. I have the transcript of the chat in case the broker denies this. I have already deposited money with this broker but I cannot trade anymore because they did not give me an option for swap-free. I don't see the need to talk to anyone because I know they're going to keep playing me around. I have already put in a request to change the broker. I need a broker that offers swap-free unconditionally. I think any trader deserves the right to choose whether to use such an option or not. It is better Forexchief removes this info from the website so that traders do not be deceived. I wonder what else is a lie.

Reply by ForexChief submitted Jan 20, 2021 Dear MaMary



it looks like you didn't read carefully the conditions. To get swap-free option you need to send request via Ticket and wait confirmation from dealing dep.



BR

ForexChief Representative
  1 trader has found this review helpful
Jeddah, Saudi Arabia,
Jan 2, 2021,
Registered user

Thank you !

Service use: Live

Length of use: 0-3 Months

Ok, I have read this. This I understand. Now I see why it is the way. I will stay more. Thank you!.

Dec 25, 2020 - 1 Star My name is Lukas. I have trader with Forexchief since June. Here is account 1816588. I like the broker very well because it give me profit many times. But I am sad for them taking money from my account that I not understand why. I see money they take at right hand side of order all the time. I like the use of the broker trading, but I am hate them stealing money from my profit all time. I don't want that. Changing this broker so I want friends to know this

Reply by ForexChief submitted Dec 30, 2020 Dear Rocky1



Your account type is DirectFX, where you pay fee for each deal. Please read carefully conditions for each type of account, which described on the website:

https://www.forexchief.com/trading-conditions/account-types/



BR

ForexChief Representative
  1 trader has found this review helpful
Ghana, Ghana,
Dec 28, 2020,
Registered user

Excellent service

Service use: Live

Length of use: 0-3 Months

I was actually looking for a decent broker when I came across forex chief and I have never regretted it. Customer service great. Withdrawal through Skrill was very fast. No problem so far. Hope they keep the good work they are doing. Nick and Anthony are great guys out there. Forexchief is great and worth working with.
 

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.