Deriv 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 Deriv and xChief
| Broker | Deriv | xChief |
|---|---|---|
| Rating | 4.3/5 | 4.1/5 |
| Foundation Year | 2020 | 2014 |
| Regulated in Countries | Malaysia, British Virgin Islands, Vanuatu, Saint Vincent and the Grenadines, Jersey, Malta | Comoros |
| Minimum Deposit |
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| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:4000 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | Deriv Review | xChief Review |
Deriv may be suitable for beginners looking for a user-friendly platform, a low entry threshold, and the opportunity to trade binary options or CFDs.
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
Deriv Review
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
Deriv 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 | Deriv | xChief |
|---|---|---|
| Reliability | 4.2/5 | 3/5 |
| Foundation Year | 2020 | 2014 |
| Regulated in Countries | Malaysia, British Virgin Islands, Vanuatu, Saint Vincent and the Grenadines, Jersey, Malta | Comoros |
| Regulators | LFSA LFSA BVIFSC BVIFSC VFSC VFSC SVGFSA SVGFSA JFSC JFSC MFSA MFSA | MISA MISA |
Deriv
Broker Deriv is relatively reliable, with licenses from various global regulators.
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
Account Opening
| Broker | Deriv | xChief |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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Deriv
The account opening process at Deriv brokerage is quite simple and fast.
xChief
Opening an account with Forex Chief is simple and fast thanks to a clear registration and verification process.
Account Types
| Broker | Deriv | xChief |
|---|---|---|
| Account Types | 4.5/5 | 5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:4000 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
Deriv
A wide variety of accounts on Deriv satisfies the needs of different traders, although there are certain limitations.
Pros
- A sufficiently wide selection of account types.
- The ability to trade binary options and multipliers.
Cons
- No accounts with fixed spreads.
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 | Deriv | xChief |
|---|---|---|
| Commissions | 4.3/5 | 4.2/5 |
| Spread | from 0.5 points | from 0 points |
| Average Spread (EURUSD) | 0.5 | 0.7 |
| Commission per Lot | $2.5 |
Deriv
Deriv's commissions are low.
Pros
- No commission for account funding and withdrawal.
- Low spreads and swaps on Financial type accounts.
Cons
- Fee for account inactivity.
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 | Deriv | xChief |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Account Funding Methods |
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Deriv
Broker Deriv offers various convenient methods for account funding and withdrawal without commission.
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 | Deriv | xChief |
|---|---|---|
| Markets and Products | 3.8/5 | 4/5 |
| Forex | 57 | 39 |
| Precious Metals | 11 | 2 |
| Energy Carriers | 2 | 3 |
| Indices | 63 | 10 |
| Stocks | 57 | 100 |
| ETF | 31 | - |
| Cryptocurrency | 31 | 5 |
Deriv
A wide range of assets in many segments.
Pros
- A large selection of assets for trading.
- Ability to trade synthetic indices 24/7.
Cons
- Absence of some important asset classes.
- Limited number of CFDs on stocks.
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 | Deriv | xChief |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Trading Platforms |
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Deriv
Broker Deriv offers a wide range of trading platforms to meet the needs of traders of different levels.
Pros
- A variety of platforms for different types of trading.
- The ability to build trading robots without programming knowledge.
- Has its own mobile application.
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 | Deriv | xChief |
|---|---|---|
| Rating | 3.5/5 | 3/5 |
Deriv
Deriv offers robust analytics with practical calculators and insightful market analysis, yet there's room for more real-time data tools.
Pros
- Detailed market insights on the Deriv Blog.
- Convenient risk management calculators.
Cons
- Lack of an economic calendar.
- Limited real-time data analytics.
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 | Deriv | xChief |
|---|---|---|
| Rating | 2.5/5 | 3/5 |
Deriv
Deriv's educational materials are limited to a blog, which restricts opportunities for comprehensive learning.
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 | Deriv | xChief |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Email Support |
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| Hotline Phones | — |
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| Social Media |
Twitter
LinkedIn
YouTube
Facebook
Instagram
TelegramDeriv
Technical support at Deriv operates at a high level, providing fast and quality responses.
Pros
- Wide selection of communication channels.
- Quality and constructive responses.
Cons
- No information on the support schedule is available on the website.
- Some clients complain about the technical support service.
xChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
