xChief review: Regulations, Trading platforms, Broker features, and User ratings.

3.829 • 90 REVIEWS
Was ForexChief.com
Updated: May 23, 2024
xChief.com

4 star review by robotukas123, Lithuania

xChief(ForexChief) has lots of assets to trade and has always been a smooth broker to trade with. The reason I decided to switch to this broker was because my previous broker didn’t accept my EA. I found xChief and it was fine with EAs. More so, it is a good broker that always keeps their promise of fast withdrawal.

What is xChief (Was ForexChief)?

xChief is a forex broker with MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their forex trading platforms in PC and Mobile version, as well as its proprietary xChief App.

xChief.com offers over 35 forex currency pairs, commodities, gold, silver, oil, CFDs on indices, stocks, cryptocurrencies (bitcoin etc.), for your personal investment and trading options.

Please read xChief 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: $1
Established: 2014
Address: 1257 Bonovo Road, Fomboni, Comoros, Comoros
Contact: info@xchief.com, +65 3159 3652
Regional offices:
Regulators: MISA #T2023379
Prohibited countries:
Trading platforms: MT4, MT5, MobileTrader (MobileApp)
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (35+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (115+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

Hedge: ✅ Yes
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, Cryptocurrency, Local Bank Transfers, PerfectMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, Local Bank Transfers, PerfectMoney
* Please check broker website for more information
3.829 • 90 REVIEWS

xChief Most Helpful Customer Reviews

B
brunofdz
Angola, Angola,
May 30, 2023,
Registered user

Solved

Length of use: 0-3 Months
Problem solved. I was told to use same payment method I used for deposit. Thank you

May 25, 2023 - 3 Stars Forexchief is the first broker I have used and I found this broker from the forexpeacearmy website. The broker has been working fine, customer service has been perfect. I have made a little profit and I have decided to withdraw money. Forexchief has refused to honor my withdrawal request. I put in withdrawal on Monday but nothing happened. I have done this three times and It keep being rejected. I hear this is the place to get help from brokers who want to steal from you. Thanks. How can I get my money back from account 1331210???
D
designmoveis
Maranhão, Brazil,
Apr 8, 2023,
Registered user

Good experience so far

Length of use: 0-3 Months
I got my third withdraw today in less than 24 hours via bank transfer. Well, this is not the only good part. I had some challenges with this broker at first while trying to make a deposit until I decided to switch to local bank using my debit card. That is settled. About using this broker's mt5, I think I made the right choice from 5 months ago. I have been trading slowly; every problem encountered was solved quickly by the customer service. I have not got a reason to write a bad review or report the broker. For this I am happy and will continue to trade Forex with Forexchief.
E
esterlavandyan
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
2 traders have found this review helpful
S
Sehar Waqar
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

BR
ForexChief Team
F
Fxmaiah
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.

BR
ForexChief Representative

Recent User Reviews of xChief

T
tenshadowsun
Texas, USA,
May 18, 2024,
Registered user

Made deposit but not showing in my account.

Service use: Live Length of use: 0-3 Months
I be have made a deposit and Etherscan shows transaction went through. This was 5 days ago. As of right now still not showing the deposit in my account. I have created a ticket and no one reply. Then created more tickets, still no reply.
A deposit of $1431.24. Minus fees, I should have a deposit of $1425 in my account.
1 trader has found this review helpful
F
Reply by ForexChief submitted May 22, 2024:
Dear tenshadowsun
To see reply in ticket you just need to click on Details and you ll find reply inside.
Regarding the transfer, we dont know the address you've sent the payment, it does not belong to ForexChief. Also we checked blockchain and we see you often send payments to that address. Please check carefully who you sent payments to and who owns that address..
BR
ForexChief Team
M
Manon
Brazil, Brazil,
Mar 25, 2024,
Registered user

is ok, I can log into my account

Service use: Live Length of use: 0-3 Months
Is ok, I can log into my account again )))))))), guys please make all things faster, thanks.

Mar 20, 2024 - 1 Star Hello everyone,
I submitted my documents for verification and while waiting for confirmation, I made a deposit 2000 USDT. After a week, I received a notification that the status of the verification had changed, and to my surprise, I found out that my account was blocked with the comment "After carefully reviewing your registration, it has been declined and your account closed by the compliance team". The deposit was not returned! I demand a refund!

Reply by ForexChief submitted Mar 23, 2024 Dear Manon

The issue was that you pressed the "Delete Profile" button in the iOS app, which led to the automatic blocking of the profile. Your account fully verified, and access has been restored. Have a nice weekend!

Best wishes, xChief Team
P
PastorFX
Germany, Germany,
Feb 28, 2024,
Registered user

Cannot withdraw, prices don't correspond to real markets

Service use: Live Length of use: 0-3 Months
Beware of ForexChief! In 10 years of trading, I never encountered such a bad broker even remotely!

- Market prices are manipulated exorbitantly and hardly ever correspond to the real market prices! Sometimes up to 8-10 pips for the broker's advantage without any reason!
- Positions in the negative are automatically closed by the broker to maximize losses!
- Deposits without verification and trading are allowed but only via crypto, complying with all regulations!
- Withdrawals are systematically canceled and not processed! Once deposited, the money is gone forever!
1 trader has found this review helpful
F
Reply by ForexChief submitted Mar 4, 2024:
Dear PastorFX

It is very good that you are experienced trader and most likely you know that "Market execution" mode means that confirmed order price can be different from those you see in the order window, its called positive or negative slippage (btw, don’t forget you can always use a Limit orders to avoid slippage). Regarding automatically closed positions, according to the rules it may happens only in case of automatic stop-out, when margin level reaches 30%.
We regret if you have faced with any difficulties in understanding the rules of the services, but our support team certainly can help you to clear understand all things, if you contact them. Have a nice week!

Best wishes, xChief Team
A
alphafly
Us, USA,
Dec 27, 2023,
Registered user

It's looking shifty

Service use: Live Length of use: 0-3 Months
I'm trying to transfer money in between accounts and it's showing an available balance of 0. I messaged them and have not yet received a reply. This doesn't speak well of the broker
3 traders have found this review helpful
F
Reply by ForexChief submitted Jan 4, 2024:
Dear alphafly

You can contact helpdesk 24/7 by online chat, whatsapp, telegram , instagram etc. Also you can create a ticket, if you are faced with some difficult issue.

Regarding internal transfer between accounts, maybe there is a bonus, or you have open positions or maybe other things... to help you we need to know account ID or registered email, or at least smth, which allows to identify the issue. You can put it here, so we can help

BR
xChief Team
F
fx58th
California, USA,
Dec 10, 2023,
Registered user

The Welcome Bonus Is Not Real

Service use: Live Length of use: 0-3 Months
I sent them multiple screenshots with my Coinbase account balance and they still refused to pay the $500 welcome bonus, their website says insufficient funds even when it's not true. Recent reviews in Traders Union also indicate major delays and issues with withdrawls from this broker.
Too many red flags with this broker.
3 traders have found this review helpful
F
Reply by ForexChief submitted Dec 15, 2023:
Dear fx58th

To get "Welcome Bonus $500" you just need to mark relevant option and choose account without "No Deposit Bonus $100". After checking, we see you tried take both bonuses on the same account... You just need to choose another MT account and it will be credited automatically.
Regarding other reviews, we would recommend to read more trustable resources, or at least those, where you can see account number, or deal ID or shown some proofs.. you know, otherwise it looks like a fake review.

BR
xChief Team

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 Comoros and is regulated by the Mwali International Services Authority under license T2023379.

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.