ForexChief Review

4.047 • 67 REVIEWS
Updated: Jan 15, 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
4.047 • 67 REVIEWS

Traders Reviews

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.