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

London, United Kingdom,
Jul 27, 2022,
Registered user

Not your average broker

Service use: Live Length of use: 6-12 Months
This might look like an ordinary broker, but I can assure you that they are better than many of the brokers you see today. I say this because trading successfully requires these things; Perfect/fast execution, low spreads, no market manipulation, ability to accept EAs, low spread and fast withdrawal. I get all these from Forexchief and I am sticking to this broker for a very long time. You can be sure that they have the best services. I like it. I still think they need to add other trading platforms, Meta Trader is very common but some of us have used others, hence the flexibility. I have made several withdrawals and never had any issues
1 trader has found this review helpful
London, United Kingdom,
Jun 27, 2022,
Registered user

I’ve had success with Forexchief

Service use: Live Length of use: over 1 Year
I’ve had the MT4DirectFX account on Forexchief platform for 2 years; so it is time to leave a review for the broker. It has been a period of success since I started using their MT4. I can say this is a broker that doesn’t trade against its traders, unlike what many of them do to us. I get my orders executed exactly how I want it and the prices I want. The orders are quickly filled with little or no slippage. I have done several huge withdrawals to my crypto wallet without any red flags. All the processes on this platform are easy and smooth. Nothing beats trading with a broker that makes things easy. I can say over and over again that this is an awesome broker.
kegalla, Sri Lanka,
Jun 11, 2022,
Registered user

Quickly Resolved

Service use: Live Length of use: 0-3 Months
My first complain about the broker was not approved. In case you guys decide to publish my review, please here is the update. I was operating the wrong account. Forexchief was able to help me switch to Mt4Direct account that is eligible for the bonus. I have the bonus, so I take back every bad thing I have said about the broker. I made a deposit today, it was fast with bitcoin. They have easy deposit methods, but I think bitcoin is faster for me. For now, I give it 5 star for helping me and being patient despite my tantrums.

Jun 7, 2022 - 1 Star Well, I just registered with this broker, and I find that they are liars. I actually found them on a forum, their banner was there, and they advertise that they give 100$ bonus and 500% bonus. Guess what, I registered and they didn’t give the bonus. In fact, customer service said I am not eligible. No other reason given. If they cannot be honest in their adverts, imagine what they would do with your money. This is not a good first impression.
Hubli, India,
Jun 7, 2022,
Registered user

Scammers stay away

Service use: Live Length of use: over 1 Year
Be aware from this broker manipulate price when you take big lots above 5 lot and spreads suddenly changed to more than 10 pips untill stopout . Example I had a big trade with EURJPY spreads 1.6 it's suddenly changed 3.3 and 7.2 but AUDJPY was 1.7 chfjpy 1.7 gbpjpy 2.5 means that time no news or no event only scam clients specially they target indian clients by illegal UPI deposit ( to a fake company name maxmy creations) also ICICI bank which is third party account purely scam no security for indian Clients. Offshore regulation useless VSFC .

Feb 15, 2022 - No Rating Finally I got fund by forex chief thanks I miss understand them I ask sorry

Feb 12, 2022 - 1 Star My money deduction from traction account and not credited to bank 
I think finally I got scammed indian clients be safety exit this broker as soon as possible USD1181130

Reply by ForexChief submitted Feb 14, 2022 Dear Joshi

you sent withdrawal request 4152 INR (54.90 USD) at saturday 12th Feb

and received the payment by bank at monday 14th Feb

as you were explained bank payments don't work in weekends, so you got money at monday

Have a nice week!

ForexChief Representative
Reply by ForexChief submitted Jun 8, 2022:
You did not trade “big lots”, your account is a CENT account, where 5 lots its just 0.05 of standard lot, obviously such few volume cant affect on spreads in any way. Besides, you watch night spreads, in moment when markets get sleep and liquidity is poor. You should check spreads in normal time, so you ll find that forexchief provides one of the best spreads.

Also, we would recommend you sit and analyze your trading to find where you did mistakes, instead of shifting the blame to others.

ForexChief Team
Lisbon, Portugal,
May 21, 2022,
Registered user

I have access to my account

Length of use: 0-3 Months
This is another review to clarify the issue. I had two similar emails and I was looking at the wrong one. The confirmation code has been there all along. Please accept my apologies. I have been able to login to my account. I made a withdrawal. Hello traders, this is a good broker to use, everything has been smooth so far. Highly recommended. Thanks

May 19, 2022 - 2 Stars Hello, my name is Jonathan, I am registered with Forexchief. Just to be sure please check my account number on 1087564. Look, I am not that new to Forex, but I have been using this broker for just 2 months. I think it is best I post this here so that they will take me seriously.
I have never logged out of my account since I created it. Always used the mt4. I already have $237 in profit. I know it is not much, but this means a lot to me. I have not placed a withdrawal yet. So, two days ago, I don’t know what went wrong, but I was logged out of my mt4. I tried to login but my password wasn’t working anymore. I decided to reset my password, maybe I have forgotten it since I never used it more than once.
Till this very moment, this broker has not sent me code to reset it. I told customer service I want to withdraw my funds; maybe they decided to lock me out. They claim they send the code, I don’t see the code. This is a very bad broker after all. Stay away guys

Reply by ForexChief submitted May 20, 2022 Dear Jonathan

as you know you can reset/change MT password inside your Personal Area, just choose section "Change Account Password". If you get enabled 2FA Google Auth then you'll get OTP inside google app, otherwise it will come by email. Please be sure you check spam folder. Also you can contact support team to get some help, choose Live Chat on the website.
Have a nice day!

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.