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

Johannesburg, South Africa,
Jan 3, 2020,
Registered user

Update to " Scammed and disappointed!"

Service use: Live Length of use: over 1 Year
I apologise for the time taken to respond. My issue was resolved with Forex Chief. As I had stated in my last review, I have been using Forex Chief for just over a year, I had no reason not to trust them. What happened to them was an honest mistake on their part. They resolved my problem almost immediately after I had clarified my complaint to them.

Dec 16, 2019 - 1 Star I'm really disappointed by this broker. I've been using Forex Chief for about a year now. I've recommended the broker to other people and I had never had any reason to not trust them until today.

I had pending orders on CADCHF pair in Forex Chief as well as other brokers. I noticed that my orders had been triggered on Forex Chief , however on other brokers the orders on the same positions were not triggered and the charts (on the same timeframe) look completely different. They triggered my trades fraudulently. I have pictures to prove it.

Jul 19, 2019 - 5 Stars Haven't had any issues, They respond to my concerns on time . Best broker I've ever used.

Reply by ForexChief submitted Dec 18, 2019 Dear Wandz

As we explained there was a technical failure from liquidity provider side, we are sorry for inconvenience, your positions were corrected to remove the losses


ForexChief Representative
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, there you will find instruction how to get them.

ForexChief Representative
Nairobi, Kenya,
Jun 20, 2018,

I discovered ForexChief only a few days ago and already have made recommendations to a few people. I have to say it is the least hassle free account opening process I have seen. The $100 bonus is genuine and they promptly credited it to my account although I lost it all due to my own trading errors.

They don't force you to trade with high leverage or high lots to lose the bonus either like other brokers. I have not withdrawn anything from them yet, but am confident about their services. They seem really professional. I will add review once I get a position to withdraw or ask those I have recommended to post their comments if they get to withdraw.
Rangpur, Bangladesh,
Nov 25, 2020,
Registered user

Fully verified

Service use: Live Length of use: 0-3 Months
Sorry for the picture quality. Thank you, my account is now verified. Hopefully we wont have any problems going forward.

Nov 17, 2020 - 2 Stars I have been looking for a decent broker like Forexchief, finally found and I have registered an account 5400875. I actually registered through a link from here. I started with a demo account and now I am happy with it and moved to a live account. All things easy as of now. I had this bad experience from a broker called piggy fx; the moment I wanted to withdraw money they asked me to verify my identity. I sent documents and was rejected for no bloody reason. Thankfully my whole money was 56 usd. So I walked away.
Due to this experience, I want to verify my identity with Forexchief before doing any transactions. I have sent all documents and I am still waiting for them to verify data. Too bad it seems I have to wait a whole month to get verified. Lol... I might as well walk away.

Reply by ForexChief submitted Nov 23, 2020 Dear juliennehallina

According KYC rules we must request high quality photo or scan of the document, where all information is clearly readable. As we know once you had uploaded the appropriate file, you ve got "fully verified" status within 10 minutes.


ForexChief Representative
Pakistan, Pakistan,
May 15, 2019,
Registered user

Now found Forexchief is a good and honest and customer friendly broker

Hello all readers.
I am very thank full to forexpeacearmy to provide such a good platform for solving traders and brokeres misunderstandings.
I have post a privious review that forexchief does not clear that what conection they have found between my and another account . Now its clear that they found multidirectional trade who other trader open with same volum and at same time as i have open.
So in this case the broker is write . When they found two accounts tradind at same time and same volume then its a suspicious activity.
So i admit the errors witch was done by misunderstandings.
And i apriciat forexchief that they will give me 100 $ as good will.witch i can withdrawal.
I recomend this broker as good caring customers friendly and have goodwill for traders.
Thanx porexpeacearmy and fotexchief.

May 13, 2019 - 1 Star Forex chief is heavely wrost and little good spreads and order exicution its good.
But withdrawal and permotions they are scamers.
I have joined F.C nearly 15 days before. To test there services i have getted there 100 $ bonus. I have earned 388 $ profit. But then i come to know that i can withdrawal only 100 $ maximum after 50 lots trading. So i spent entire profit to complete trading lots. And after completing 45 lotsor 10000000 $ turnover i have remaning 293 $ equity in witch i have submit 100 $ withdrawal request. But surpriesed to show the canslation of withdrawal. They says i have getted the bonus twice.but not explain that how can they come to know that i have getted the bonus twice.any ip address match? Any device match? Any documents match? Any phone no match? .
But the reality is nothing match. But they cancel my withdrawal. I can say that this is a poor broker of vanuato with cheap regulation. They have not much money to give there traders but they just want to get money by peoples deposit. So therefore they have low spreads and 100 $ bonus to atract peoples to make a deposit.
I can say they are not a trust worthy broker.
I want to make deposit but fortunatly i have not complete funds in my skrill i have postpond deposit and now i think i am lucky.
I am still in waiting for clarification and getting the withdrawal.
My account no is 1213565.

Reply by ForexChief submitted May 17, 2019 Dear FPA admin

Client 1213565 has broken the rules because of misunderstanding and agreed with that bonuse was canceled according accepted rules. As we asked him, he sent a new comment regarding this case, could you please check and update this review, thanks


ForexChief Representative
Forex Peace Army
Review moderation team note
5 Star rating removed.

This reviewer provided evidence to the FPA showing that he was forced to confess to rules violations he claimed he had not committed.
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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.