ForexChief is a broker that offers a range of trading conditions for beginners and experienced traders alike. Its features and unusual technological solutions set it apart from the competition.
The broker is registered in Vanuatu and regulated by the Financial Services Commission of that country under license 14777. However, this is a very loose form of regulation.
Features
ForexChief is a multi-asset online broker that offers access to the MetaTrader platforms and multiple trading instruments. It also supports spot foreign exchange trading on all account types for 40+ major, minor, and exotic currency pairs and CFD trading on cryptos, oil, metals, indices, and stocks.
The platform features a liquidity aggregator that sources prices from central banks and market makers and streams them to the MetaTrader platforms. This reduces spreads and allows traders to execute trades quickly and efficiently.
The broker has an easy-to-use interface and a range of deposit and withdrawal methods. It supports Visa and Mastercard, Bank Wire, and e-wallets like Skrill and Neteller.
Minimum deposit
Forex chief offers a minimum deposit of $10 across all live trading accounts. This is relatively low compared to other brokers, but it is still a pretty decent amount for a beginner.
The broker also offers various bonus and incentive programs for new clients. Depending on the trader’s location, these include a welcome deposit ($500) and no deposit bonus deals.
Traders can open an account with ForexChief by completing a simple online registration form. They may be required to submit identity verification documents.
Clients can conveniently fund their trading accounts with international bank wire transfers or make a credit/debit card payment. Many e-wallet services, including Skrill and Neteller, are also supported. Customer support is available by telephone in English, Arabic, Spanish, French, Italian, Portuguese, Hindi, and Russian.
Trading conditions
ForexChief allows its customers to trade on a wide range of currencies and instruments. Its trading conditions are competitive, and its platform is based on the STP/NDD model (straight-through processing/no dealing desk).
It offers the MetaTrader 4 and 5 platforms, which can be downloaded as a desktop or mobile application. It also features several useful analytical tools for traders, such as charts, economic calculators, and interest rate charges by country.
The Vanuatu Financial Services Commission regulates ForexChief and accepts traders from many countries worldwide. It is available in multiple languages, including English, Spanish, Portuguese, and Ukrainian.
Customer support
Forex’s chief broker offers a comprehensive range of client support services. Customer service representatives can answer your questions via email, live chat, or phone. The brokerage also operates a network of offices worldwide, with local help desks in most countries offering support during regular office hours.
Moreover, Forex Chief offers a range of e-wallet payment options and cryptocurrencies like Bitcoin and Ethereum. All deposits and withdrawals are handled through segregated bank accounts, ensuring client funds’ safety.
The company also complies with ‘Know Your Customer’ (KYC) procedures. This is vital in combating money laundering and other illegal activity. In addition, the brokerage uses ‘Secured Socket Layer technology to protect clients’ personal information from theft by hackers and cybercriminals.
