xChief vs TeleTrade 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 TeleTrade
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 4.1/5 | 3.6/5 |
| Foundation Year | 2014 | 2000 |
| Regulated in Countries | Comoros | Saint Vincent and the Grenadines |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | xChief Review | TeleTrade 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
This broker is ideally suited for experienced traders who value narrow spreads and a variety of financial instruments. Beginners may find it difficult due to the lack of extensive educational materials.
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:
TeleTrade Review
TeleTrade represents a comprehensive solution for traders looking for tight spreads, a variety of financial instruments, and quality customer support. It benefits experienced traders who can fully utilize the extensive analytical tools. However, beginners may find it challenging to get started without a wide range of educational materials.
If you are ready to undertake an intensive self-learning journey or possess ample experience, this broker can offer you all the necessary conditions for successful trading.
Pros and Cons of TeleTrade
Pros
- Tight spreads.
- A wide range of deposit and withdrawal methods.
- Diversity of financial assets.
- An extensive set of analytical tools.
- Quality customer support.
Cons
- High commission on ECN and NDD accounts.
- High swaps.
- Long withdrawal request processing time.
- Lack of educational materials other than articles.
Reliability
| Broker | xChief | TeleTrade |
|---|---|---|
| Reliability | 3/5 | 3/5 |
| Foundation Year | 2014 | 2000 |
| Regulated in Countries | Comoros | Saint Vincent and the Grenadines |
| Regulators | MISA MISA | SVGFSA SVGFSA |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
TeleTrade
TeleTrade is a relatively reliable broker, especially considering its long-standing market experience.
Pros
- Long-term market history.
- A large client base worldwide.
Cons
- No regulation by stricter authorities (FCA, ASIC, BaFin).
Account Opening
| Broker | xChief | TeleTrade |
|---|---|---|
| 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.
TeleTrade
The registration process with TeleTrade broker is extremely convenient and fast. Minimal field input and the ability to log in from the main page simplify the start in trading.
Account Types
| Broker | xChief | TeleTrade |
|---|---|---|
| Account Types | 5/5 | 3.5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:500 |
| 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.
TeleTrade
The broker offers standard trading accounts with additional options such as "24% Bonus" and "Copy Trading". However, the absence of cent, fixed, and Islamic accounts narrows the choices for specialized traders.
Pros
- Additional income through "24% Bonus".
- The "Copy Trading" service for diversification.
- Loyalty program with bonus points.
Cons
- No accounts with fixed spreads.
- No cent accounts.
- No Islamic accounts.
Commissions
| Broker | xChief | TeleTrade |
|---|---|---|
| Commissions | 4.2/5 | 2.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 1.8 |
| Commission per Lot | $2.5 | $0.86 |
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.
TeleTrade
The level of commissions can be considered average, making the broker's services suitable for various types of traders, but not ideal for all.
Pros
- Competitive spreads on the standard account.
- No withdrawal fees in certain cases.
Cons
- High transaction commission on ECN and NDD accounts.
- Above-average swaps on the standard account.
- Additional commission for account inactivity.
Deposit and Withdrawal
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 5/5 | 4/5 |
| 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.
TeleTrade
The broker offers a variety of transaction methods, most of which are commission-free and with fast processing times.
Pros
- Wide selection of deposit and withdrawal methods.
- Most operations are commission-free.
- Instant fund crediting for most methods.
Cons
- Withdrawal requests can be processed for up to 7 business days.
- In some cases, a commission is charged for deposits and withdrawals.
Markets and Products
| Broker | xChief | TeleTrade |
|---|---|---|
| Markets and Products | 4/5 | 4.5/5 |
| Forex | 39 | 76 |
| Precious Metals | 2 | 17 |
| Energy Carriers | 3 | 4 |
| Indices | 10 | 26 |
| Stocks | 100 | 146 |
| Cryptocurrency | 5 | 79 |
| Soft Commodities | - | 7 |
| Bonds | - | 3 |
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.
TeleTrade
TeleTrade offers a wide range of financial instruments, making it attractive for various categories of investors.
Pros
- A large number of currency pairs.
- Wide selection of CFDs on metals and cryptocurrencies.
Cons
- Some brokers offer more CFDs.
Trading Platforms
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 4/5 | 4/5 |
| 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.
TeleTrade
TeleTrade provides excellent trading opportunities, offering two versions of the popular MetaTrader platforms.
Pros
- Support for MetaTrader 4 and 5, popular and reliable platforms.
- Availability on various operating systems and devices.
- Ability to use automated trading robots.
Cons
- Lack of proprietary platform or alternative to MetaTrader.
Analytics
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 3/5 | 4/5 |
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.
TeleTrade
TeleTrade provides a good range of analytical tools, such as an economic calendar and technical analysis.
Pros
- Includes an economic calendar and updates news.
- Professional market reviews.
- Video analytics available.
Cons
- Lack of trading signals.
- Absence of calculators and technical analysis services.
Education
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 3/5 | 2/5 |
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.
TeleTrade
The educational materials at TeleTrade are limited to articles only, which is not ideal for those seeking comprehensive education. The variety and depth of materials are severely limited.
Customer Support
| Broker | xChief | TeleTrade |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media | — |
Twitter
Facebook
Instagram
LinkedIn
YouTube
TelegramxChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
TeleTrade
TeleTrade's technical support offers a wide range of communication channels and receives positive feedback from clients. Prompt response and quality consultation make this service one of the broker's strong points.
