xChief vs ThinkMarkets Comparison
ThinkMarketsWe 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 ThinkMarkets
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Rating | 4.1/5 | 4/5 |
| Foundation Year | 2014 | 2009 |
| Regulated in Countries | Comoros | Seychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman Islands |
| 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 | ThinkMarkets 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
ThinkMarkets suits traders who value attractive trading conditions, a wide range of products, analytical tools, and 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:
ThinkMarkets Review
ThinkMarkets is a highly regulated broker with licenses from the FCA and ASIC, confirming its reliability and operations transparency. The broker offers a wide range of trading platforms suitable for beginners and experienced traders. Extensive analytical resources and educational materials help traders to develop their skills and improve trading efficiency. Round-the-clock support ensures that help is always available, no matter the time of day.
ThinkMarkets is ideal for traders who are looking for a reliable and well-regulated broker with a variety of technological solutions and analytical tools. The broker is especially suitable for active traders who are willing to invest time in learning the market through the training materials offered.
Pros and Cons of ThinkMarkets
Pros
- Wide range of trading platforms.
- Strong analytical support.
- Extensive educational materials.
- 24/7 technical support.
Cons
- Limited choice of trading accounts.
- Withdrawal fees and account inactivity fees.
Reliability
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Reliability | 3/5 | 5/5 |
| Foundation Year | 2014 | 2009 |
| Regulated in Countries | Comoros | Seychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman Islands |
| Regulators | MISA MISA | SFSA SFSA - FCA FCA ASIC ASIC CySEC CySEC FSCA FSCA JFSA JFSA CIMA CIMA |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
ThinkMarkets
The presence of licenses from authoritative regulators and a good reputation speak to the reliability of ThinkMarkets.
Account Opening
| Broker | xChief | ThinkMarkets |
|---|---|---|
| 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.
ThinkMarkets
The account opening process at ThinkMarkets is simple and convenient. However, due to the possible verification process taking up to 2 days, the account opening process may not be as fast as desired.
Account Types
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Account Types | 5/5 | 3.3/5 |
| 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.
ThinkMarkets
ThinkMarkets offers two main types of accounts, but the variety of accounts is limited, and there are no accounts for certain groups of traders.
Pros
- Free VPS
- Ability to copy trades of successful traders
Cons
- Lack of cent accounts and fixed spread accounts
- No Islamic account
Commissions
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Commissions | 4.2/5 | 2.3/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 1.2 |
| Commission per Lot | $2.5 | $3.5 |
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.
ThinkMarkets
ThinkMarkets has average market commissions, making it accessible for most traders. However, it should be noted that the broker charges some non-trading commissions.
Pros
- Transparent commission structure.
Cons
- Conversion fee for withdrawals in a currency other than the base currency.
- Inactivity fee.
Deposit and Withdrawal
| Broker | xChief | ThinkMarkets |
|---|---|---|
| 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.
ThinkMarkets
The broker offers convenient methods for depositing and withdrawing funds, most of which are commission-free, however, there may be delays in withdrawals.
Pros
- Wide selection of deposit and withdrawal methods.
- No commission for most deposit and withdrawal cases.
Cons
- Conversion fee for withdrawals in a currency other than the base currency.
- Potential long withdrawal times due to meticulous transaction verification
Markets and Products
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Markets and Products | 4/5 | 5/5 |
| Forex | 39 | 46 |
| Precious Metals | 2 | 10 |
| Energy Carriers | 3 | 3 |
| Indices | 10 | 15 |
| Stocks | 100 | 3305 |
| Cryptocurrency | 5 | 21 |
| Soft Commodities | - | 3 |
| ETF | - | 364 |
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.
ThinkMarkets
ThinkMarkets offers a highly diverse range of trading instruments.
Trading Platforms
| Broker | xChief | ThinkMarkets |
|---|---|---|
| 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.
ThinkMarkets
ThinkMarkets offers a wide selection of platforms, including popular MetaTrader 4 and MetaTrader 5, as well as proprietary developments such as ThinkTrader and ThinkCopy.
Analytics
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Rating | 3/5 | 4.5/5 |
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.
ThinkMarkets
ThinkMarkets provides high-quality analytical tools, making trading informative and productive.
Pros
- Extensive set of market analysis tools.
- Availability of Traders' Gym for strategy testing.
- Daily trading signals and market news.
Cons
- Some tools are only available for certain types of accounts.
Education
| Broker | xChief | ThinkMarkets |
|---|---|---|
| Rating | 3/5 | 4.7/5 |
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.
ThinkMarkets
ThinkMarkets offers high-quality educational materials covering a wide range of topics.
Pros
- Wide range of topics in articles.
- Webinars from experts.
- Materials for traders of all levels.
Cons
- Lack of video tutorials.
Customer Support
| Broker | xChief | ThinkMarkets |
|---|---|---|
| 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.
ThinkMarkets
ThinkMarkets offers a wide range of communication channels with support, including phone numbers in different countries, email, and online chat. Additionally, support is available 24/7, ensuring prompt assistance at any time of the day.
