AvaTrade vs xChief Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of AvaTrade and xChief
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 4.7/5 | 4.1/5 |
| Foundation Year | 2005 | 2014 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Comoros |
| Minimum Deposit |
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| Spread | from 0.6 points | from 0 points |
| Max Leverage | 1:400 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | AvaTrade Review | xChief Review |
AvaTrade is suitable for traders who value various instruments, copy trading services, and a user-friendly mobile version of trading platforms.
xChief is suitable for traders looking for a wide range of trading instruments and low spreads. However, the broker is not suitable for those seeking a strong analytical section and educational courses
AvaTrade Review
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
AvaTrade is in the top 10 of the following ratings:
xChief Review
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.
Pros and Cons of xChief
Pros
- A wide range of trading instruments.
- Availability of cent and PAMM accounts.
- Tight spreads and low commission per transaction.
- Scalping and algorithmic trading allowed.
Cons
- Regulation in an offshore jurisdiction.
- Weak analytical section.
- No educational courses and webinars for beginner traders.
xChief is in the top 10 of the following ratings:
Reliability
| Broker | AvaTrade | xChief |
|---|---|---|
| Reliability | 5/5 | 3/5 |
| Foundation Year | 2005 | 2014 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Comoros |
| Regulators | Central Bank of Ireland Central Bank of Ireland KNF KNF FCA FCA BVIFSC BVIFSC ASIC ASIC FSCA FSCA JFSA JFSA JFFA JFFA FSRA FSRA ISA ISA CIRO CIRO | MISA MISA |
AvaTrade
AvaTrade is regulated in various countries by several leading financial regulators, providing high reliability.
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
Account Opening
| Broker | AvaTrade | xChief |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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AvaTrade
The broker offers clients from different countries a straightforward, convenient, and quick account opening process.
xChief
Opening an account with Forex Chief is simple and fast thanks to a clear registration and verification process.
Account Types
| Broker | AvaTrade | xChief |
|---|---|---|
| Account Types | 3.5/5 | 5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.6 points | from 0 points |
| Max Leverage | 1:400 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
AvaTrade
AvaTrade has a decent trading account, but the absence of some critical options may not satisfy all trader needs.
Pros
- A free demo account is available.
- An Islamic account option is provided.
- The ability to copy trades.
Cons
- Lack of market execution of orders.
- No cent accounts.
- No fixed spread accounts.
xChief
Forex Chief offers a variety of account types, satisfying the needs of different traders, from beginners to professionals.
Pros
- Wide selection of accounts: DirectFX, Classic+, cent, and Islamic.
- Demo accounts are available for novice traders.
- Investment accounts available: PAMM accounts and copy trading.
Commissions
| Broker | AvaTrade | xChief |
|---|---|---|
| Commissions | 4.5/5 | 4.2/5 |
| Spread | from 0.6 points | from 0 points |
| Average Spread (EURUSD) | 0.9 | 0.7 |
| Commission per Lot | $2.5 |
AvaTrade
AvaTrade offers relatively low commissions with its competitive spreads and no charges for deposits/withdrawals.
Pros
- Low spreads.
- No deposit/withdrawal fees.
Cons
- Inactivity fee.
xChief
Forex Chief offers attractive commissions and tight spreads, although swaps are average for the market. Rebates add extra benefits for active traders.
Pros
- Low commission per trade.
- Tight spreads.
- No inactivity fees and no withdrawal fees.
Cons
- High swaps.
Deposit and Withdrawal
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 4.2/5 | 5/5 |
| Account Funding Methods |
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AvaTrade
AvaTrade provides flexible and accessible methods for depositing and withdrawing funds, though processing times can be extended.
Pros
- Multiple methods for deposit and withdrawal.
- No commission on deposits and withdrawals.
- AvaTrade covers up to $100 of the bank transfer fee.
Cons
- Long processing time for bank transfers.
xChief
ForexChief offers a wide range of deposit and withdrawal methods without any fees on their part, with fast processing of requests.
Markets and Products
| Broker | AvaTrade | xChief |
|---|---|---|
| Markets and Products | 5/5 | 4/5 |
| Forex | 53 | 39 |
| Precious Metals | 7 | 2 |
| Energy Carriers | 5 | 3 |
| Soft Commodities | 7 | - |
| Indices | 46 | 10 |
| Stocks | 614 | 100 |
| ETF | 61 | - |
| Bonds | 2 | - |
| Cryptocurrency | 20 | 5 |
AvaTrade
AvaTrade offers various financial instruments, including currency pairs, CFDs, stocks, ETFs, bonds, cryptocurrencies, etc.
xChief
Forex Chief offers a respectable variety of trading instruments.
Pros
- Wide range of currency pairs and CFDs.
- Access to cryptocurrency trading.
- Flexible margin requirements.
Cons
- Lack of soft commodities.
- Limited number of stock CFDs.
Trading Platforms
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Trading Platforms |
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AvaTrade
AvaTrade provides various trading platforms: MetaTrader 4 and 5, WebTrader, and AvaTradeGO, giving traders flexibility in choosing the right tool for their trading strategies.
xChief
Forex Chief offers widely used and functional MT4 and MT5 platforms, providing convenience and accessibility for traders.
Pros
- Use of popular and proven MT4 and MT5 platforms.
- Availability of platforms on various OS (Windows, iOS, Android).
Cons
- Lack of proprietary unique platform.
- Limited selection of platforms compared to some competitors.
Analytics
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 5/5 | 3/5 |
AvaTrade
The broker provides good market analysis tools.
Pros
- Collaboration with Trading Central.
- Economic calendar.
- Trader's calculator.
xChief
ForexChief offers basic analytical tools, but they are generally insufficient for serious trading.
Pros
- Current central bank interest rates.
- Convenient trader's calculator.
Cons
- Outdated economic articles.
- Insufficient variety of analytical tools.
Education
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 5/5 | 3/5 |
AvaTrade
AvaTrade offers quality video tutorials and articles for traders of all levels.
Pros
- Quality materials.
- Educational resources available on the AvaTrade site.
xChief
ForexChief's educational materials cover the basics, but do not offer in-depth training.
Pros
- Wide range of article topics for beginners.
- Various trading strategies and indicators are presented.
Cons
- Lack of more advanced materials.
- No video tutorials or webinars.
Customer Support
| Broker | AvaTrade | xChief |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Whatsapp
Twitter
Facebook
Instagram
LinkedIn
YouTube
TelegramAvaTrade
The broker's technical support offers various channels of communication and 24/7 availability.
xChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
