ForexChief Review

4.08 • 71 REVIEWS
Updated: Mar 31, 2023
ForexChief is a forex broker. Forex Chief offers the MT4 and MT5 forex trading top platforms. offers over 35 forex currency pairs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options. Please read ForexChief Reviews below and share your live trading experiences with this broker.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $10
Established: 2014
Address: 1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu
Contact:, +65 3159 3652
Regional offices:
Regulators: VFSC #14777
Prohibited countries:
Trading platforms: MT4, MT5
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (40+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (115+) Gold, Silver, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

PAMM: ✅ Yes
Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney
4.08 • 71 REVIEWS

Traders Reviews

Armenia, Armenia,
Mar 30, 2023,
Registered user

I am happy now

Service use: Other Length of use: 0-3 Months
I got a reversal from my bank today. So I guess the broker was right, the money didn’t get through to them. Well, it’s a common misunderstanding. I have made the deposit and it went through. Forexchief deserves a 5 star for consistently fast servers. I make more money trading with this broker. Thank you Forexchief, and FPA.

Mar 27, 2023 - 2 Stars I am having problems funding my account. Now I feel like the broker has playing games with me because it has been three days and the money has not reflected on my trading account but it has been deducted from my bank account. The broker claims the payment from me was not successful from their end. I went to my bank and they said it was successful, who will I believe now? How do I solve this problem quickly? Look into my case please, account 1315215. I am not satisfied with this broker, I am not happy.

Reply by ForexChief submitted Mar 30, 2023 Dear Ester

The payment has been credited. Sometimes bank wire can take more time than usual. If you need to deposit urgently we would recommend to use crypto.

Have a nice week!
ForexChief Team
norwich, United Kingdom,
Feb 14, 2023,
Registered user

Remains the best

Service use: Live Length of use: 0-3 Months
Please disregard my previous review. Turned out to be a problem with my bank and also some broker conditions I didn’t put into consideration. All is not solved and I am in good standing with Forexchief. I haven’t had any issue with the broker, so it remains the best for me. Thanks

Feb 10, 2023 - 2 Stars I made payment via bank card, in my name. Now I want to withdraw and the broker said they can't process withdrawal to my bank. This is ridiculous and unacceptable. How else am I going to get my money? I need a solution to this right now. I have been sending message and they keep saying the same thing over and over again. This is my first withdraw and already having issues. My account is 1331215

Reply by ForexChief submitted Feb 14, 2023 Dear Sehar

According to the rules first you must refund deposit back to the same card, then you will be able to use other options to withdraw

ForexChief Team
Poznan, Poland,
Feb 11, 2023,
Registered user

I love the platform, very fast

Service use: Live Length of use: 6-12 Months
This is the third broker I have used in 3 years. It’s my 6th month with the broker and I am very happy to leave a review here. As a trader, your success depends on your skills and the broker you use. Some broker tends to frustrate your effort with ridiculous trading conditions and stringent rules. Forexchief has made things very easy. One of the fastest I have used. It is also very fast to make a deposit when you are about to hit margin call. In some cases I was given free credit to support my margin. The management understands. I will continue to use this broker until I feel otherwise. Thank you!
Reply by ForexChief submitted Feb 14, 2023:
Thank you for feedback! really appreciate

ForexChief Team
South East, Nigeria,
Feb 9, 2023,
Registered user

Still a good broker

Service use: Live Length of use: over 1 Year
I left Forex for a while and came back to Forexchief as the last broker I used. So far, all my withdrawals has been processed without issues as long as it's through the same channel used for funding.
However, it's not as fast as it used to be for local bank withdrawal. They can improve on that because they have been doing it better before.
Secondly, the spreads are higher than they used to be before I took a break. It's still better than most brokers in Nigeria though.

I will continue to use them and recommend them as long as they keep processing payments without issues.

Sep 25, 2021 - 2 Stars 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.

ForexChief Representative
Omsk, Russian Federation,
Feb 6, 2023,
Registered user

Spreads over 2000 points

Service use: Live Length of use: 0-3 Months
The spreads of this broker at night are more than 2000 points, while you will not see this on the chart. They explain this by low liquidity, I think they are blatantly lying. I have not seen any broker with such a large spread.

This is my worst broker in 10 years of trading!
1 trader has found this review helpful
Reply by ForexChief submitted Feb 9, 2023:
Dear Cahutap1

We checked your account and found the claim regarding deal 8495420 (sell 0.1 EURJPY). The order has come from your side at midnight 00:08 server time. Seems there was a moment when quotes flow has frozen and you tried to open position with non-market price. But as we explained the deals are routed by STP and executed on Liquidity providers be real quotes flow.
So this is it happened, the deal was perform by actual price on LP at the moment when you saw quotes flow frozen in forexchief terminal.

ForexChief Team
Germany, Germany,
Jan 12, 2023,
Registered user

During big CPI news suddenly no payment by credit card possible

Service use: Live Length of use: over 1 Year
I have to warn about this broker. The deposit availability by credit card, can change from one day to the other. It's not reliable. I could not make any payment since yesterday by credit card.They recommend as replacement other dubious scamming payment providers as PerfectMoney, WebMoney, Fasapay. It was not possible before and during CPI inflation news to make a deposit there, because credit card payments were not available suddenly. So it seems, that their payment systems have zero redundancy, if one payment system which coincidentally is not available when or before big news arrive.
Very big coincidence that this happens when big movements in USD are to expect :-))) They brought me in a bad situation now and it's not known, if or when credit card payments are again available. So be careful, if you don't want to lose your money with this broker. This is a NO GO for a broker, that you cannot rely that you cannot make deposits on the usual way by credit card suddenly. And this broker does also not warn, that their deposit systems will not be available. You will find out as a surprise. Not good and very bad experience for me.
Reply by ForexChief submitted Jan 13, 2023:
Dear Ronaldo

Cards can be unavailable because of PSP (Payment Service Provider) side or/and payment systems restrictions. Please use other options, e.g. SEPA. If you need a fast deposit, then crypto is the best option.

ForexChief Team
Vilnius, Lithuania,
Jan 9, 2023,
Registered user

Very Satisfied

Service use: Live Length of use: 6-12 Months
Forexchief has lots of assets to trade and has always been a smooth broker to trade with. The only reason I decided to switch to this broker was because my previous broker didn’t accept my EA. I understand that many brokers are always skeptical about scalping EAs. I found this broker and it was good for it. More so, Forexchief is a good broker that always kept to their promise of fast withdrawal.
Belgrade, Serbia,
Dec 13, 2022,
Registered user

good services

Service use: Live Length of use: 0-3 Months
Thank you for responding and attending to my problems. Well, I got the bonus now and I have swap free account. Please be fast in attending to customer query next time. Either, I can now trade with Forexchief.

Dec 2, 2022 - 2 Stars I stumbled on this broker here two weeks ago, and because I was still looking for a broker I could trust for my trades, I decided to enroll. I registered a demo at first, before going live. First of all, I was pissed that I did not get the welcome bonus as promised on their website. What is more frustrating is that there is no Swap-free account. This is rather not a friendly broker. I didn't bother with it, I moved on to the next.

Reply by ForexChief submitted Dec 10, 2022 Dear Jovana

To get No deposit Bonus $100 you just need to complete couple simple steps, please find instruction on the website

Regarding swap-fee (Islamic accounts), you can find such option on the website

If you need a help, please contact our Support Team 24/7 in live chat on the website. Have a nice weekend!

ForexChief Team
LG, Nigeria,
Sep 5, 2022,
Registered user

Good service

Service use: Live Length of use: 3-6 Months
I made a post about forexchief some days ago. Well, I checked the file I sent again and it was the blurry one. I sent a clearer document and my account is now verified and withdrawal is done. I was too quick to make a bad post here. I was just angry; please I want Forexpeacearmy to make this change to my review.

Aug 31, 2022 - 2 Stars My name is Nicholas, I have account with Forexchief 310354. I have been using this broker for about 6 months and I never made any complains. I have colleagues who use this broker and they recommended it. It is actually a broker that offers convenience when it comes to trading. But what is the use of it if they won’t let me withdraw my profit. I sent an email and they said I need to submit my documents in order to get verified. Well, this is understandable. I have done this and they won’t verify my account. The excuse they gave several times is that the document is not clear enough. Wtf, I know what I sent and it is clear. This broker might just be scam if they won’t let me withdraw. Stay far away from them. Broker Response: Dear trader, we have checked your document and we are still not satisfied with the quality as your name and address is not visible enough. Please upload another document.

Reply by ForexChief submitted Sep 1, 2022 Dear Nicholas
Please just take a phone and make good photo of your ID (both sides), thats all compliance team is asking. Then send files to backoffice or upload them in the Personal Area. Thanks!
ForexChief Representative
Abj, Nigeria,
Aug 23, 2022,
Registered user

Good communication

Service use: Live Length of use: 0-3 Months
Please add to my review. I just realized that it wasn’t the broker that charged a fee. It was because I used ERC20. I didn’t know the fee was this high. I’ll use TRC20 next time. My apologies for the misunderstanding. Thank you for the good service you render.

Aug 17, 2022 - 2 Stars I really do like this broker, fast orders, low spread, high leverage and all that, very good. But what annoys me right now is the fact is that I got charge about $30 for deposit when I was told that there are no charges by my referral. How can I deposit $200 and I have to pay $30 in charges. This is not right. I don't think I can make a deposit again. Well wrote this review here so that everyone can be aware before using them. My account number is 2203452. I registered few weeks ago, but I have been using the demo. My first time making a deposit and I got charge this high amount.

Reply by ForexChief submitted Aug 19, 2022 Dear Francokan

We noticed you made a deposit via USDT (ERC20). Your wallet must have charged a fee for this transaction, please confirm this from your cryptocurrency wallet. ForexChief did not charge a fee for your deposit.

ForexChief Representative
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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.

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:

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 $10 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 and 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.