xChief vs LiteFinance 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 LiteFinance
| Broker | xChief | LiteFinance |
|---|---|---|
| Rating | 4.1/5 | 4.1/5 |
| Foundation Year | 2014 | 2004 |
| Regulated in Countries | Comoros | Saint Vincent and the Grenadines, Cyprus |
| 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 | LiteFinance 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
LiteFinance is ideally suited for beginner traders, thanks to training and demo accounts. Experienced traders may appreciate the analytics but face platform and asset selection limitations.
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:
LiteFinance Review
LiteFinance is a broker that actively invests in analytical and educational resources, providing its clients access to the economic calendar, daily forecasts, and analytics from Claws&Horns. These resources can significantly assist traders in developing their trading skills and strategies. The 24/7 technical support ensures that help is always on hand when needed, which is especially valuable for beginners and those who trade in various markets worldwide.
LiteFinance will be most suitable for beginner and intermediate-level traders who can make the most of the educational and analytical resources offered. It will also suit those who prefer to use standard trading platforms and do not plan to trade cryptocurrencies or soft commodities actively.
Pros and Cons of LiteFinance
Pros
- A variety of analytical tools.
- Extensive educational materials.
- 24/5 technical support.
Cons
- High trading fees.
- Lack of certain trading assets.
LiteFinance is in the top 10 of the following ratings:
Reliability
| Broker | xChief | LiteFinance |
|---|---|---|
| Reliability | 3/5 | 4/5 |
| Foundation Year | 2014 | 2004 |
| Regulated in Countries | Comoros | Saint Vincent and the Grenadines, Cyprus |
| Regulators | MISA MISA | SVGFSA SVGFSA CySEC CySEC |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
LiteFinance
LiteFinance is a fairly reliable broker, regulated by authorities, ensuring safety and transparency for clients.
Pros
- Regulation by multiple bodies (SVG FSA, CySEC).
- Adherence to high standards of security and transparency.
- Mandatory segregation of client funds and deposit insurance.
Cons
- Lack of strict regulators such as FCA, ASIC, or CFTC.
Account Opening
| Broker | xChief | LiteFinance |
|---|---|---|
| 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.
LiteFinance
Account opening at LiteFinance is user-friendly and straightforward, with a direct verification process.
Account Types
| Broker | xChief | LiteFinance |
|---|---|---|
| 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.
LiteFinance
LiteFinance offers a variety of account types and diverse services, capable of satisfying the needs of different categories of traders.
Commissions
| Broker | xChief | LiteFinance |
|---|---|---|
| Commissions | 4.2/5 | 1.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 2 |
| Commission per Lot | $2.5 | $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.
LiteFinance
Brokerage fees at LiteFinance are above average, which can impact the profitability of trading, especially for active traders.
Pros
- No fees for depositing and withdrawing funds.
Cons
- High transaction fees on ECN accounts.
- Spreads on standard accounts are higher than many competitors.
- Presence of an inactivity fee.
Deposit and Withdrawal
| Broker | xChief | LiteFinance |
|---|---|---|
| Rating | 5/5 | 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.
LiteFinance
LiteFinance offers its clients a wide range of convenient and secure methods for depositing and withdrawing funds, including e-wallets, bank transfers, and cryptocurrencies.
Markets and Products
| Broker | xChief | LiteFinance |
|---|---|---|
| Markets and Products | 4/5 | 4.2/5 |
| Forex | 39 | 57 |
| Precious Metals | 2 | 5 |
| Energy Carriers | 3 | 3 |
| Indices | 10 | 15 |
| Stocks | 100 | 443 |
| Cryptocurrency | 5 | 63 |
| Soft Commodities | - | 5 |
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.
LiteFinance
LiteFinance offers a wide range of trading assets, although some categories are missing.
Pros
- Wide selection of currency pairs.
- Availability of CFDs on stocks, indices, and commodities.
Cons
- Absence of cryptocurrencies.
- No soft commodities.
Trading Platforms
| Broker | xChief | LiteFinance |
|---|---|---|
| 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.
LiteFinance
LiteFinance offers proven cTrader, MT4, and MT5 platforms, and a convenient web terminal.
Analytics
| Broker | xChief | LiteFinance |
|---|---|---|
| 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.
LiteFinance
LiteFinance's website features a variety of useful analytical tools, providing comprehensive support for traders.
Education
| Broker | xChief | LiteFinance |
|---|---|---|
| Rating | 3/5 | 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.
LiteFinance
LiteFinance offers a variety of educational materials that contribute to the development of traders' skills at all levels.
Customer Support
| Broker | xChief | LiteFinance |
|---|---|---|
| Rating | 4/5 | 4.8/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTube
Telegram
SkypexChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
LiteFinance
LiteFinance's technical support is prompt and professional in addressing issues, providing timely assistance.
Pros
- Multiple communication channels: email, Skype, Telegram, and phone.
- Support service availability 24/5.
- Quick response to user inquiries.
Cons
- Lack of 24/7 support.
