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xChief Review 2024

Last updated Jun 22, 2024
xChief is trusted. Tested via live trading.

Highlights of xChief

xChief Logo
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexPrecious MetalsIndicesEnergy CarriersCryptocurrencyStocks
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Skrill Logo
Neteller Logo
AdvCash Logo
WebMoney Logo
Perfect Money Logo
FasaPay Logo
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Credit and Debit Cards Logo
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compare xChief trading accounts

xChief is an international broker regulated in an offshore jurisdiction, specializing in Forex and CFD trading.

The broker stands out with a wide range of trading instruments available through reliable trading platforms. Traders can take advantage of various bonuses, participate in contests, and access educational materials. xChief supports scalping and algorithmic trading and offers cent accounts and PAMM accounts.

However, the broker's analytical section leaves much to be desired, and there are no training courses or webinars for beginner traders.

Pros and Cons of xChief

Pros

  1. A wide range of trading instruments.
  2. Availability of cent and PAMM accounts.
  3. Tight spreads and low commission per transaction.
  4. Scalping and algorithmic trading allowed.

Cons

  1. Regulation in an offshore jurisdiction.
  2. Weak analytical section.
  3. No educational courses and webinars for beginner traders.

User reviews

Leave a review of your experience:

Rating:

xChief Broker Overview

Foundation Year2014
Official Websitehttps://www.xchief.com
Regulated in CountriesComorosMore Details
Minimum Deposit
  • 1 USD
Spreadfrom 0 points
Max Leverage1:1000
Trading Assets
  • Forex
  • Precious Metals
  • Indices
  • Energy Carriers
  • Cryptocurrency
  • Stocks
Trading Platforms
  • MetaTrader 4
  • MetaTrader 5
Email Support
  • info@xchief.com
Hotline Phones
Social Media

xChief operates on an STP/NDD system, using an automated system to process all transactions opened by investors. In this scheme of international interbank trading, the broker is not a party to the transaction but only acts as an intermediary. This service model eliminates the possibility of a conflict of interest between the company and the client and, overall, can improve the quality of service due to narrow spreads and the high speed of trade order execution.

xChief is in the top 10 of the following ratings:

xChief Review Summary

In the rating section, we used a 5-point scale to assess different aspects of the broker. Our evaluation methodology is described in detail on our website: broker evaluation methodology. We consider reliability, trading conditions, education, analytics, technical support, etc.

Read the xChief review further to learn more detailed information about the services provided, as well as the advantages and disadvantages of the broker.

Reliability and Regulation

Rating:3/5
Legal EntityRegulator

xChief Ltd. holds a Mwali International Services Authority (MISA) brokerage services license.

MISA is the official regulator in Comoros, but its regulatory standards are not as stringent as those of other international bodies, such as the FCA in the UK or ASIC in Australia.

Account Opening

Rating:5/5

Opening an account with xChief is quite simple and fast.

Registration

To register a personal account and open a trading account, the client must fill out a form to provide contact information and, having reviewed the client agreement, confirm their agreement with the requirements set forth therein.

Forex Chief registration form
Forex Chief registration form

After completing the registration form, the broker will send you a confirmation code to your Email. Then, upon successfully confirming the specified email, xChief will send you the login details for the personal account.

Verification

Verification of personal data is required to open a trading account and deposit and withdraw funds. For this, go to "My Profile" -> "Identity Verification." Upload:

  • a photo or scan of a document confirming your identity;
  • a selfie with the document, holding it near your face.

Overview of xChief Personal Area

Upon successful verification, you will gain full access to all services and features offered by xChief. Now, in the personal area, you can:

  • open and manage trading and demo accounts;
  • deposit and withdraw funds;
  • receive bonuses and participate in company promotions;
  • invest in PAMM accounts or open your investment fund;
  • participate in the broker's affiliate program.
Forex Chief Personal Area
Forex Chief Personal Area

Minimum Deposit

xChief allows investors to start trading with a low entry threshold, setting a minimum deposit of just $10. This makes xChief accessible to many traders, including beginners and those who prefer to start with a small capital. However, this amount may limit your trading capabilities and potential risk. We recommend trading responsibly, considering your investment objectives and risk tolerance.

Account Types

Rating:5/5

xChief is flexible and suitable for many traders with different preferences and styles.

Trading Accounts

xChief offers its clients several options for trading accounts:

Let's consider the trading conditions for each type of account.

CENTClassic+DirectFXxPRIME
Account CurrencyUSD, EUR, GBPUSD, EUR, GBP, CHF, JPY
Minimum Deposit1 $10 $50 $2 000 $
Trading PlatformsMetaTrader 4MetaTrader 5MetaTrader 5MetaTrader 4MetaTrader 4MetaTrader 5MetaTrader 5MetaTrader 4
Spreadfloatingfrom 0.9 pipsfor EURUSD~ 1.1 pipsfloatingfrom 0.6 pipsfor EURUSD~ 0.7 pipsfloatingfrom 0.3 pipsfor EURUSD~ 0.4 pipsfloatingfrom 0 pipsfor EURUSD~ 0.4 pips
Commission per Tradeper 1 lot2.5 $per 1 lot3 $
Trading AssetsForexPrecious MetalsForexIndicesPrecious MetalsEnergy CarriersForexIndicesCryptocurrencyStocksPrecious MetalsEnergy Carriers
Opened Positionsup to 200up to 500up to 1000
Leverage1:1-1:5001:1-1:1000
Margin Call / Stop Out50% / 30%100% / 50%
Order ExecutionMMSTPECN
Demo Account
Islamic Account
RegisterRegisterRegisterRegister

Cent Accounts

Trading on a cent account is the most critical stage of training, as the trader trades with invested money, and unlike a demo account, the client risks real money. On the other hand, these are tiny amounts of money, and even if the trading leads to a stop-out, the loss will be insignificant. Experienced traders on micro accounts can practice trading tactics and conduct price movement analysis.

Demo Account

To try your hand at the Forex market without risk, xChief offers the following demo accounts:

  • demo-MT4.DirectFX
  • demo-MT4.Classic+
  • demo-MT5.DirectFX
  • demo-MT5.Classic+

Demo accounts have trading conditions similar to real trading accounts.

The initial balance of the demo account can be set from 50 to 10000000 USD. Any trading or demo account can be opened in the xChief personal account area.

Opening a demo account at Forex Chief
Opening a demo account at Forex Chief

Islamic Account

xChief offers a particular type of account known as the Islamic account or Swap Free. This service is specifically designed for traders whose religious beliefs prohibit using interest rates of world currencies in their trading.

The main feature of the Islamic account is the absence of accrual and write-off of swaps, which are calculated based on the credit rates of national central banks. However, this type of account is not available for all kinds of accounts and only for Muslim clients from a limited list of countries where Islam is the state and predominant religion.

Swap-Free is only available for standard accounts:

  • MT4.DirectFX,

  • MT4.Classic+,

  • MT5.DirectFX,

  • MT5.Classic+.

Furthermore, the Islamic account is only available for a limited list of trading instruments.

At the same time, trading strategies to profit from the interest rate differential (carry trade) are strictly prohibited. If a trade is open for more than 2 days, the company charges a fixed commission for all days the trade was open.

To obtain the Swap Free service, you must register a standard account, verify personal data, and submit an application in the personal account area.

Special Trader Package V5

The Special Trader Package V5 includes:

  • personal manager,
  • personal analytics,
  • free VPS,
  • complimentary expert advisors,
  • 30% investment support,
  • priority in processing withdrawal requests.

How to get the Special Trader Package V5

  1. Register and open a trading account.
  2. Fund the account. To activate the bonus, your accounts must have at least 2000 USD.
  3. Send a request via email to backoffice@xchief.com or create a ticket in the personal Cabinet.

Investment Accounts

For passive investing, xChief broker offers the following services:

PAMM Accounts

There are 2 types of PAMM accounts available for opening: pamm-MT4.DirectFX and pamm-MT4.Classic+.

Account Typepamm-MT4.DirectFXpamm-MT4.Classic+
PlatformMetaTrader 4MetaTrader 4
Minimum Deposit10 USD10 USD
Account Currency
  • USD
  • EUR
  • USD
  • EUR
Maximum Leverage1:10001:1000
Type of ExecutionMarket ExecutionMarket Execution
Position Accounting SystemHedgingHedging
SpreadFrom 0 points.From 0.3 points.
RequotesNoNo
Commission
  • Forex, CFD on metals, CFD on commodities, CFD on indices - 15 USD per 1 mln.
  • CFD on shares - 0.1%CFD on cryptocurrencies - 0.25%
  • CFD on cryptocurrencies - 0.25%
  • Forex, CFD on metals, CFD on commodities, CFD on indices - none
  • CFD on stocks - 0.1%
  • CFD on cryptocurrencies - 0.25%
Lot100,000100,000
Stop-Out30%30%
Assets

150+

  • Currency pairs
  • CFD on metals
  • CFD on Commodities
  • CFD on stock indices
  • CFD on stocks
  • CFD on cryptocurrencies

150+

  • Currency pairs
  • CFD on metals
  • CFD on Commodities
  • CFD on stock indices
  • CFD on stocks
  • CFD on cryptocurrencies
Minimum order volume (lots)0.010.01
Maximum order volume (lots)100100
Maximum number of open orders500500
Maximum aggregate volume of open orders (lots)UnlimitedUnlimited
Trading with Expert AdvisorsAvailableAvailable
ScalpingAvailableAvailable
Trade creditsNoNo
Rebates per turnoverNoNo
Welcome BonusNoNo
Swap-freeNoNo
How to invest in PAMM accounts?

The PAMM account rating is available in the xChief personal account. This service is relatively new for xChief, so there are very few PAMM accounts (especially compared to Alpari), and their age does not exceed 1 year.

PAMM Account Rating on ForexChief
PAMM Account Rating on ForexChief

In the PAMM account profile, you can familiarize yourself with detailed trading statistics, strategy descriptions, and the manager's commission rates.

PAMM account profile on ForexChief
PAMM account profile on ForexChief

If you are ready to invest in a PAMM account, click the "Invest" button. Review the risk warning in the window that opens and confirm the transfer from your personal account.

Copy Trading

Automated trading based on signals or copying trades of successful traders is a popular service from MQL5. This service can be configured in MetaTrader 4/5 terminals.

You can select a trading signal provider here - link.

Rating of trading signals for MT4 on MQL5
Rating of trading signals for MT4 on MQL5

You can also review the trading statistics and feedback about the signal provider.

MQL5 Trading Signals Provider Statistics
MQL5 Trading Signals Provider Statistics
Important! For the correct operation of the service, it is also advisable to use a VPS service, as automated trading implies continuous operation.

1000 USD for new investment funds

Receive the first 1000 USD when opening a PAMM account.

How to participate in the promotion?
  1. Please create a new investment fund with the following parameters: it should be a public fund with a manager's fee of up to 20%.
  2. Verify your data and fund the account with at least 100 USD. Investors can contribute funds once the fund becomes active and visible in the rankings.
  3. Send a request via email to backoffice@xchief.com or create a ticket. Please provide proof of your successful trading experience: this can be trading reports from other brokers or screenshots from reliable investment resources. Once your request with sufficient evidence is received, 1000 USD will be credited to your new Fund.

Please note that the 1000 USD will come from an actual investor with the right to manage their funds. You should avoid significant losses and demonstrate a stable, profitable strategy – otherwise, the investor may lose interest and withdraw their funds from your fund anytime.

Contests

xChief holds a monthly Gold Whale contest with a prize pool of $5,000, which allows traders to combine regular trading with the chance to win real money. The distinctive feature of the Forex contest is that any trading strategies and robots are permitted, and the prize money can be withdrawn without restrictions or delays.

How to participate in the contest?

The contest is open to participants with real MT4 accounts.DirectFX or MT4.Classic+ types are in USD currency and require a minimum deposit of $100. It is important to note that participation is possible only with one trading account, excluding accounts with active trading credits, welcome bonuses, or no-deposit bonuses.

How is the winner of the contest determined?

The formula: Return = (Net Profit / Total Deposits) x 100 determines the contest winners.

The first three places receive prizes of 1000, 750, and 500 USD, respectively, and prizes are also distributed among participants who rank 4th to 20th place.

It is important to note that each contest participant must execute at least 10 trades, and hedging positions on the contest account using other accounts is prohibited. The participant must also be prepared for the possibility of disqualification from the contest without explanation by the company.

Commissions

Rating:4.2/5

xChief aims to make its services accessible for traders, offering competitive conditions and a transparent commission system.

Another advantage of xChief is that it does not charge additional commissions, such as an inactivity or withdrawal fee.

Trading Commissions

Trading commissions at xChief are handsome, especially for active traders. The broker emphasizes the accessibility of its services by setting reasonable and competitive commissions.

Per Trade Commission

The commission per trade on MT4.DirectFX and MT5.DirectFX accounts is only $15 per $1 million turnover, which is a low rate compared to other brokers in the market.

Below is the commission per lot for the EURUSD pair at different Forex brokers:

BrokerIC MarketsRaw SpreadPepperstoneRazorxChiefDirectFXRoboforexECNFxProStandard
Commission per lot$3.5$3.5$2.5$2.16$0.00

Spreads and Swaps

Spreads at xChief are narrow, which also benefits traders as it reduces the cost of entering a trade. However, it should be noted that swaps at the broker are above the market average, which may affect long-term positions.

Below are the xChief spreads and swaps for major currency pairs.

AssetAverage spreadSwap longSwap short
AUDUSD0.9 pips-2.40 pips-1.70 pips
EURUSD0.7 pips-8.90 pips1.10 pips
GBPUSD1.3 pips-4.90 pips0.10 pips
NZDUSD1.3 pips-2.10 pips-3.30 pips
USDCAD1.3 pips-5.70 pips-1.20 pips
USDCHF1.2 pips-0.50 pips-5.90 pips
USDJPY1.0 pips11.50 pips-32.60 pips

Rebates for Turnover

Rebates allow active traders to earn additional income through weekly rewards for the trading turnover achieved.

How to Earn Rebates

  1. Register and open any trading account.
  2. Fund the trading account and actively trade.

Loyalty Program Terms

  • The rebate is credited to the trading account at the end of each week after the close of trading. The rebate amount is calculated based on the turnover in USD made during the settlement week: Monday 00:00:01 - Friday 23:59:59 (trading server time);
  • For accounts on the MetaTrader 4 platform, the turnover is calculated based on the orders closed during the settlement period. The trading turnover in USD for an order equals the total turnover of two transactions: the transaction to open the order and the transaction to close the order.
  • For accounts on the MetaTrader 5 platform, turnover is calculated based on transactions made during the settlement period.
  • The credited rebate can be withdrawn at any time without any restrictions.
  • The larger the weekly trading turnover, the higher the rate at which the final rebate amount is calculated.
Trading TurnoverCalculation Rate
up to 100 million USD3 USD per 1 million USD
from 100 million to 500 million USD7 USD per 1 million USD
over 500 million USD10 USD per 1 million USD

Deposit and Withdrawal

Rating:5/5

xChief offers various account funding and withdrawal methods, making the broker accessible to traders from different countries and with other payment system preferences.

Account Funding Methods

xChief offers a wide range of funding methods. Many of the funding methods are commission-free.

Payment SystemCurrenciesDeposit FeeOperation Limit
SkrillSkrill
USDEUR
0%
from 10 USD
NetellerNeteller
USDEURGBP
0%
from 10 USD
AdvCashAdvCash
BRLUAHGBP
0%
from 1 USD
WebMoneyWebMoney
USD
9.8%
Perfect MoneyPerfect Money
USDEUR
1.99%
from 1 USD
FasaPayFasaPay
USDIDR
0%
from 1 USD
SEPASEPA
EUR
0%
Credit and Debit CardsCredit and Debit Cards
USDEURGBP
0%
Online bankingOnline banking
IDRINRIRR
0%
CryptocurrencyBlockchainDeposit FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
from 10 USD
Логотип Bitcoin CashBCH (Bitcoin Cash)BCH
0%
from 10 USD
Логотип EthereumETH (Ethereum)ERC20
0%
Логотип LitecoinLTC (Litecoin)LTC
0%
from 10 USD
Логотип RippleXRP (Ripple)XRP
0%
from 10 USD
Логотип TetherUSDT (Tether)ERC20
0%
from 10 USD
Логотип TetherUSDT (Tether)TRC20
0%
from 10 USD
Логотип TetherUSDT (Tether)BEP20
0%
from 10 USD
Логотип USD CoinUSDC (USD Coin)ERC20
0%
from 10 USD
Логотип USD CoinUSDC (USD Coin)BEP20
0%
from 10 USD
Логотип DaiDAI (Dai)ERC20
0%
from 10 USD
Логотип DaiDAI (Dai)BEP20
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)BEP2
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)BEP20
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)ERC20
0%
from 10 USD

Withdrawal Methods

xChief does not charge a fee for withdrawals. However, it should be noted that there may be a fee from the payment system.

Withdrawals are usually processed within 2 business days from the moment the withdrawal request is made. The company allows clients to use any of the popular payment systems.

Payment SystemCurrenciesWithdrawal FeeOperation Limit
Perfect MoneyPerfect Money
USDEUR
0.5%
FasaPayFasaPay
USDIDR
0.5%
SkrillSkrill
USDEUR
1%
AdvCashAdvCash
USDEURGBP
1%
NetellerNeteller
USDEURGBP
1.9%
SEPASEPA
EUR
0%
SwiftSwift
EURGBP
1%
Credit and Debit CardsCredit and Debit Cards
USDEURGBP
2%
CryptocurrencyBlockchainWithdrawal FeeOperation Limit
Логотип TetherUSDT (Tether)TRC20
0%
from 10 USD
Логотип TetherUSDT (Tether)ERC20
0%
from 10 USD
Логотип TetherUSDT (Tether)BEP20
0%
from 10 USD
Логотип USD CoinUSDC (USD Coin)ERC20
0%
from 10 USD
Логотип USD CoinUSDC (USD Coin)BEP20
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)BEP20
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)BEP2
0%
from 10 USD
Логотип Binance USDBUSD (Binance USD)ERC20
0%
from 10 USD
Логотип DaiDAI (Dai)ERC20
0%
from 10 USD
Логотип DaiDAI (Dai)BEP20
0%
from 10 USD
Логотип EthereumETH (Ethereum)ERC20
0%
from 10 USD
Логотип LitecoinLTC (Litecoin)LTC
0%
from 10 USD
Логотип RippleXRP (Ripple)XRP
0%
from 10 USD
Логотип Bitcoin CashBCH (Bitcoin Cash)BCH
0%
from 10 USD
Логотип BitcoinBTC (Bitcoin)BTC
0%
from 10 USD

Deposit Bonuses

Let's review the list of current promotions and Forex bonuses from the broker.

No Deposit Bonus $100

A bonus of $100 is automatically credited through the xChief mobile app after completing the Verification procedure.

How to get the No Deposit Bonus of $100?
  1. Register and open a trading account MT4.DirectFX, MT4.Classic+, MT5.DirectFX or MT5.Classic+.
  2. Complete the Verification procedure.
  3. Install the mobile app xChief for Android and receive the Bonus.
  4. Complete the required trading volume and withdraw $100.
Terms and Conditions of the No Deposit Bonus $100 promotion
  • The No Deposit Bonus can only be received within the app by the client and only after successfully completing Verification.
  • Profit can only be withdrawn after the trading volume executed reaches 10,000,000 USD. The total trading volume for the account sums up the turnover of each completed transaction, both for opening and closing positions.
  • The maximum profit can be withdrawn after completing the trading volume requirements is $100.
  • Attempting to receive the Bonus again using a new registration is strictly prohibited.

Welcome Bonus up to $500

Welcome Bonus – a welcome bonus of 100% of the first deposit amount, but not more than $500.

How to get the Welcome Bonus?
  1. Register and open a trading account MT4.DirectFX, MT4.Classic+, MT5.DirectFX or MT5.Classic+
  2. On the deposit form, check the box "Credit Welcome Bonus."
  3. Complete the operation and make sure the bonus is credited to the account.
  4. Complete the required turnover and withdraw the bonus along with the profit.

Terms and Conditions of the Welcome Bonus Promotion

  • The bonus can be received only once at the time of account funding of no less than 50 USD (or the equivalent in the account currency). Select the "Credit Welcome Bonus" option on the funding form to do this.
  • The bonus is 100% of the funding amount but not more than 500 USD (or the equivalent in the account currency).
  • Profit can be withdrawn from the account without any limits, but the bonus itself can only be removed after completing the required trading volume, which is calculated using the formula: Required turnover = Bonus amount in USD * 50000
  • The bonus is credited to the Credit field and cannot be used in a drawdown.
  • As long as there is an active bonus on the account, there are restrictions on fund withdrawal: Available for withdrawal = Free Margin – Welcome Bonus – Deposit amount for which the bonus was received.
  • The client can decline the welcome bonus in the personal area to remove the restrictions on fund withdrawal. In this case, only the bonus amount will be deducted from the account. The deposit itself, as well as the accumulated profit, will remain on the account.

Trading Credits

Trading credits are perpetual and interest-free and can be used as collateral when executing trades. The credit amount can be up to 70% of the funding amount.

How to get trading credit

  1. Register and open any trading account.
  2. Fund the trading account. At the time of the transaction in the personal area, indicate the size of the trading credit: from 10% to 70% of the funding amount.

Trading credit terms

  • The active trading credits across all accounts cannot exceed 20,000 USD.
  • You cannot use trading credit in a drawdown, as it will be automatically deducted from the account if the fund size falls to the level of the credit.
  • When active trading credits are on the account, the amount of funds available for withdrawal is calculated using the formula: Available for withdrawal = Free Margin – Credit – Amount of funding for which active credits were received.

Markets and Products

Rating:4/5

xChief offers a relatively wide range of instruments for trading. However, a small number of stocks (compared to other brokers) and the absence of soft commodities in the broker's assortment is a disadvantage.

What markets are available?

BrokerIC MarketsxChiefPepperstone
Forex613997
Precious Metals7220
Energy Carriers534
Soft Commodities816
Indices251026
Stocks2175100986
ETF38108
Bonds10
Cryptocurrency21530

Margin Requirements

Margin requirements vary for each group of instruments. The total margin on the account considers each group of instruments independently of the others.

Trading InstrumentMax. Leverage for Retail Traders
Forex
1:1000
Precious Metals
1:500
Energy Carriers
1:50
Indices
1:50
Stocks
1:5
Cryptocurrency
1:2

Trading Platforms

Rating:4/5

xChief offers access to two of the most popular and functional trading platforms - MetaTrader 4 and MetaTrader 5, which is a significant advantage. However, the lack of a proprietary unique platform or an alternative to MetaTrader slightly lowers the rating.

MetaTrader 4 and 5

TerminalOperating SystemsTrading Accounts
MetaTrader 4
  • Desktop: Windows 7 and above
  • iPhone and iPad: Apple iOS 8.0 and above
  • Android OS 4.0 and above
  • MT4.DirectFX
  • MT4.Classic+
  • pamm-MT4.DirectFX
  • pamm-MT4.Classic+
  • cent-MT4.DirectFX
  • cent-MT4.Classic+
MetaTrader 5
  • Desktop: Windows 7 and above
  • iPhone and iPad: Apple iOS 8.0 and above
  • Android OS 4.0 and above
  • Web Terminal
  • MT5.DirectFX
  • MT5.Classic+
  • cent-MT5.DirectFX
  • cent-MT5.Classic+

As a trading platform (terminal), the broker has chosen the most popular, well-optimized program for trading on any electronic device – MetaTrader 4. The network and software optimization department staff continuously upgrade and develop the software to make clients' work more accessible, ensuring reliable software and minimizing the possibility of technical failures.

The brokerage firm offers MetaTrader 5 as an alternative, but according to statistics, only a few clients use the advanced terminal.

The trading platform can be downloaded from the official xChief website.

MetaTrader 5
MetaTrader 5

Analytics

Rating:3/5

xChief has some essential analytical tools, but they do not appear to be sufficiently comprehensive or up-to-date.

What analytical materials are available?

As analytical materials on the xChief website, the following are presented:

  • analytical reviews - analytics from the company's experts, published on Instagram.
  • economic articles - summaries of the political and financial situation.
  • Price charts - online price charts are available even to unregistered users. However, for conducting technical analysis, we still recommend using TradingView.
  • interest rates - current rates of Central Banks. Convenient for carry trading.
  • trader's calculator - a convenient tool for calculating a trading position.
Online chart of quotes on Forex Chief
Online chart of quotes on Forex Chief

Education

Rating:3/5

xChief provides basic educational materials, which can be useful for new traders. They include information on the history of Forex, trading fundamentals, articles, trading strategies, and indicators. However, the broker could offer more educational options like webinars, video tutorials, or podcasts.

What educational materials are available?

xChief offers the opportunity to take training courses at the company or to glean information from the "library" section, where you can learn:

  • Forex history;
  • The first steps of a trader;
  • Articles about trading;
  • Forex trading strategies;
  • Trading indicators;
  • Trading session schedule.

The educational blog also includes a list of “frequently asked questions.” Thanks to them, novice traders can quickly find the information they want.

Articles about trading on ForexChief
Articles about trading on ForexChief

Customer Support

Rating:4/5

xChief has several communication channels with support, including email, phone, and online chat, making support easily accessible for clients. However, 24/7 support is unavailable, which can be inconvenient for some clients, especially those who trade during non-standard hours.

Support Working Hours

The support service operates from Monday to Friday, from 9:00 to 18:00 (UTC+3). Highly qualified staff promptly respond to any questions related to the company's operations.

How to contact support?

To contact support, open the online chat dialogue box directly on the website or call by phone. If the question requires meticulous and comprehensive investigation, the best choice would be to write an email.

Phone+65 3159 3652
E-mailinfo@xchief.com

Conclusion

xChief offers traders a variety of opportunities and services for successful trading in the Forex market. With a wide selection of trading instruments, reliable trading platforms, contests, and educational materials, the broker creates conditions for developing traders of all experience levels.

FAQ

Is xChief legit?

xChief is an international broker regulated by the Mwali International Services Authority (MISA) in the Comoros Islands. While it is regulated, potential clients should consider the implications of offshore regulation and conduct thorough research.

Which country is xChief from?

xChief is registered in the Comoros Islands.

Is xChief an ECN broker?

Yes, xChief offers ECN accounts, providing direct access to the interbank market with competitive spreads and fast execution.

How does xChief make money?

xChief makes money primarily through spreads and commissions on trades.

Is xChief good for beginners?

xChief may not be the best choice for beginners due to the lack of comprehensive educational courses and webinars.

Does xChief offer a demo account?

Yes, xChief offers a demo account. This allows traders to practice and familiarize themselves with the trading platform and tools without risking real money.

How can I open an account with xChief?

To open an account with xChief, visit their official website, fill out the registration form with your personal details, verify your identity as required, and deposit the minimum amount to start trading.

How can I delete my xChief account?

To delete your xChief account, contact their customer support team through the available communication channels on their website. Follow the instructions provided to close your account.

What is the minimum deposit for xChief?

The minimum deposit for xChief is $10.

What is the maximum leverage on xChief?

The maximum leverage offered by xChief can be as high as 1:1000, depending on the account type and the trading instrument. Always use leverage carefully due to the increased risk.

How do I deposit funds in an xChief account?

To deposit funds in an xChief account, log in to your trading account, go to the deposit section, choose your preferred payment method, and follow the instructions to complete the transaction.

How do I withdraw money from xChief?

To withdraw money from xChief, log in to your trading account, navigate to the withdrawal section, select your preferred withdrawal method, enter the amount, and follow the necessary steps to complete the process.

Does xChief provide VPS?

Yes, xChief provides VPS services for its clients.

Is xChief suitable for scalping?

Yes, xChief supports scalping as part of its trading strategies. Traders who employ scalping techniques can use this broker for their activities.

Is xChief suitable for auto-trading?

Yes, xChief is suitable for auto-trading. The broker supports algorithmic trading and provides the necessary tools for automated trading strategies.

Is xChief suitable for hedging?

Yes, xChief allows hedging, enabling traders to open multiple positions to manage their risk effectively.

Is xChief suitable for spread betting?

No, xChief does not offer spread betting as part of its trading services. Traders interested in spread betting will need to look for brokers that specifically provide this option.

Visit xChiefTrading CFDs carries high risks. You may lose all invested funds

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.