xChief vs FXCM 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 xChief and FXCM
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 4.1/5 | 4.3/5 |
| Foundation Year | 2014 | 1999 |
| Regulated in Countries | Comoros | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | xChief Review | FXCM Review |
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
FXCM is suitable for traders of all levels. Beginners will find educational materials and helpful analytics, while experienced traders will appreciate various instruments and flexible platforms.
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:
FXCM Review
FXCM represents a comprehensive solution that will benefit traders of all levels — from beginners to professionals. Beginners will appreciate the accessible educational materials and analytics, while experienced traders can use various instruments and flexible platform settings.
However, it's essential to consider drawbacks such as fees for account inactivity and the limited variety of trading accounts. These factors may be particularly significant for traders who do not plan to trade actively or are looking for more options for customization.
The broker offers a good balance between high-quality services and reasonable rates, making it an attractive choice for a broad spectrum of traders.
Pros and Cons of FXCM
Pros
- Diverse methods for deposit and withdrawal.
- Wide range of markets and products for trading.
- A broad spectrum of trading platforms.
- Extensive and quality materials for making informed decisions.
- Quick and efficient help in solving emerging issues.
Cons
- Insufficient variety of trading accounts.
- Inactivity fees and commissions for bank transfer withdrawals.
- Protracted account opening and verification process.
FXCM is in the top 10 of the following ratings:
Reliability
| Broker | xChief | FXCM |
|---|---|---|
| Reliability | 3/5 | 5/5 |
| Foundation Year | 2014 | 1999 |
| Regulated in Countries | Comoros | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines |
| Regulators | MISA MISA | FCA FCA ASIC ASIC CySEC CySEC FSCA FSCA CIRO CIRO ISA ISA SVGFSA SVGFSA |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
FXCM
FXCM is a well-regulated broker with numerous licenses from various global organizations.
Account Opening
| Broker | xChief | FXCM |
|---|---|---|
| Account Opening | 5/5 | 4/5 |
| Minimum Deposit |
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xChief
Opening an account with Forex Chief is simple and fast thanks to a clear registration and verification process.
FXCM
The account opening process at FXCM is logically organized and efficient, providing clear steps for traders. The structured system and quick verification make this process convenient and straightforward.
Pros
- Clear and structured registration form.
Cons
- Verification waiting time can take up to 3 days.
Account Types
| Broker | xChief | FXCM |
|---|---|---|
| Account Types | 5/5 | 4/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
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.
FXCM
FXCM offers two types of accounts: Mini for beginners and Standard for experienced traders. Although the choice is not vast, both accounts are well adapted for their target audiences.
Pros
- Mini account available - akin to a cent account.
- Option for copy trading through ZuluTrade.
- Demo and Islamic accounts available.
Cons
- Limited selection of account types.
- No account with fixed spreads.
Commissions
| Broker | xChief | FXCM |
|---|---|---|
| Commissions | 4.2/5 | 3.2/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 1.2 |
| Commission per Lot | $2.5 |
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.
FXCM
Commissions at FXCM are average. The broker offers favorable conditions for long-term trading thanks to competitive spreads and swaps. However, there is an inactivity fee and a fee for fund withdrawal.
Pros
- Competitive spreads and swaps.
- Rebate program for active traders.
Cons
- Inactivity fee.
- Fee for withdrawals via bank transfer.
Deposit and Withdrawal
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Account Funding Methods |
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xChief
ForexChief offers a wide range of deposit and withdrawal methods without any fees on their part, with fast processing of requests.
FXCM
FXCM offers a wide range of methods for depositing and withdrawing funds, including cryptocurrencies.
Pros
- Variety of deposit methods.
- Fast processing of withdrawal requests.
- No broker commissions for depositing.
Cons
- Commission for withdrawals via bank transfer.
Markets and Products
| Broker | xChief | FXCM |
|---|---|---|
| Markets and Products | 4/5 | 4.5/5 |
| Forex | 39 | 41 |
| Precious Metals | 2 | 3 |
| Energy Carriers | 3 | 7 |
| Indices | 10 | 15 |
| Stocks | 100 | 3512 |
| Cryptocurrency | 5 | 23 |
| Soft Commodities | - | 4 |
| ETF | - | 280 |
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.
FXCM
FXCM provides a wide range of trading instruments, making it attractive for various categories of traders. Different markets, from Forex to stocks and cryptocurrencies, are available.
Pros
- Good selection of markets and instruments.
Cons
- Some competitors have even more CFDs.
Trading Platforms
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Trading Platforms |
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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.
FXCM
FXCM offers a wide choice of trading platforms with high functionality, meeting the needs of different traders.
Pros
- Wide choice of platforms for different trading styles.
- Advanced analytical tools in Trading Station.
- Support for algorithmic and social trading through Capitalise AI and ZuluTrade.
Analytics
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 3/5 | 5/5 |
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.
FXCM
FXCM offers comprehensive analytical tools, from trading signals to expert research. These resources not only simplify trading decisions but also help to improve strategy.
Pros
- Wide range of analytical tools.
- Professional signals and market analysis.
- Personalized trading applications.
Cons
- Some tools may require a subscription or active account.
- Lack of analytics localization in different languages.
Education
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 3/5 | 4/5 |
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.
FXCM
The broker offers quality webinars and helpful guides that make the learning process informative and interactive.
Pros
- Webinars with experts for direct interaction.
- Detailed Forex guides.
- Materials suitable for traders of all levels.
Cons
- Lack of video courses.
- No podcasts for audio learning.
Customer Support
| Broker | xChief | FXCM |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTube
Telegram
WhatsappxChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
FXCM
FXCM's technical support is highly rated for its variety of communication channels and quick response. Customer reviews confirm the professionalism and efficiency of the staff.
Pros
- Multiple channels of communication, including WhatsApp and live chat.
- Available 24/5.
- High degree of customer satisfaction.
Cons
- There may be telephone charges for international calls.
