xChief vs InstaForex 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 InstaForex
| Broker | xChief | InstaForex |
|---|---|---|
| Rating | 4.1/5 | 4.2/5 |
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros | British Virgin Islands, Cyprus, 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 | InstaForex 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
InstaForex is suitable for beginner traders looking for simple conditions and education but may be unsuitable for professionals with large deposits due to wide spreads and low liquidity.
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:
InstaForex Review
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
InstaForex is in the top 10 of the following ratings:
Reliability
| Broker | xChief | InstaForex |
|---|---|---|
| Reliability | 3/5 | 4/5 |
| Foundation Year | 2014 | 2007 |
| Regulated in Countries | Comoros | British Virgin Islands, Cyprus, Saint Vincent and the Grenadines |
| Regulators | MISA MISA | BVIFSC BVIFSC CySEC CySEC SVGFSA SVGFSA SVGFSA SVGFSA |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
InstaForex
InstaForex operates through multiple legal entities regulated by various financial authorities. However, it should be noted that these are not the strictest or most authoritative market regulators.
Account Opening
| Broker | xChief | InstaForex |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| 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.
InstaForex
Given the lack of minimum deposit requirements and the option to bypass verification for certain funding methods, it can be said that opening an account with InstaForex is maximally convenient and accessible.
Account Types
| Broker | xChief | InstaForex |
|---|---|---|
| Account Types | 5/5 | 5/5 |
| 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.
InstaForex
InstaForex accounts offer sufficiently flexible conditions to meet the needs of most traders.
Pros
- Cent and Islamic accounts are available
- PAMM accounts and copy trading services are provided
Cons
- No market execution of orders
Commissions
| Broker | xChief | InstaForex |
|---|---|---|
| Commissions | 4.2/5 | 2.2/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | |
| Commission per Lot | $2.5 | $3 |
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.
InstaForex
InstaForex offers its clients trading commissions above average compared to other brokers.
Pros
- Transaction commission slightly below market average
- Commission rebates (rebate) are available
Cons
- Inactivity fee is charged
- Withdrawal fees may apply
- Wide spreads
Deposit and Withdrawal
| Broker | xChief | InstaForex |
|---|---|---|
| Rating | 5/5 | 4.7/5 |
| 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.
InstaForex
InstaForex provides various flexible options for depositing and withdrawing funds, although some fees may be higher than those of some competitors. This disadvantage is offset by the company's offer of advantageous deposit bonuses.
Markets and Products
| Broker | xChief | InstaForex |
|---|---|---|
| Markets and Products | 4/5 | 5/5 |
| Forex | 39 | 108 |
| Precious Metals | 2 | 8 |
| Energy Carriers | 3 | 6 |
| Indices | 10 | 21 |
| Stocks | 100 | 1448 |
| Cryptocurrency | 5 | 72 |
| Soft Commodities | - | 13 |
| ETF | - | 67 |
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.
InstaForex
A wide range of trading instruments is available on InstaForex, including 110 currency pairs and various Contracts for Difference (CFDs).
Trading Platforms
| Broker | xChief | InstaForex |
|---|---|---|
| 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.
InstaForex
InstaForex offers a wide selection of platforms, which can satisfy the needs of the overwhelming majority of traders.
Analytics
| Broker | xChief | InstaForex |
|---|---|---|
| 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.
InstaForex
A strong point of InstaForex is its robust analytical section for beginners. The company's analysts publish daily market forecasts, breakdowns of trading situations, and important economic news.
Education
| Broker | xChief | InstaForex |
|---|---|---|
| Rating | 3/5 | 4.5/5 |
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.
InstaForex
InstaForex provides high-quality and diverse educational materials (video tutorials, courses, webinars), benefiting beginners and advanced traders. However, access to the entire training course is open only to owners of trading accounts.
Customer Support
| Broker | xChief | InstaForex |
|---|---|---|
| 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
Whatsapp
OK
VK
Viber
Skype
MessengerxChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
InstaForex
The technical support of InstaForex demonstrates good customer service, offering various ways to connect and prompt responses to client inquiries.
