What is ForexChief?
ForexChief is an online Forex and CFD broker that provides high-quality and inexpensive forex services to individuals and legal entities based on modern technologies in the field of online trading.
In addition, special attention in the project is paid to working with institutional clients who strive to provide their traders with the best trading conditions due to high liquidity and low spreads.
Services are provided by ForexChief Ltd. (registration number 14777) operating under a Dealer in Securities (Principal’s License) issued by the Vanuatu Financial Services Commission under Section 4, subsection (1) (a) of The Dealers in Securities ( Licensing) Act [CAP. 70].
To make transactions with foreign exchange contracts and metals, the company’s clients are offered the most popular trading platform in the field of forex trading – MetaTrader 4/5.
In addition, the line of account types contains “cent” accounts, the balance dimension of which allows them to be used not only to reduce investment risks but also to test trading conditions in general.
Why traders choose ForexChief?
There are many reasons to choose ForexChief as your main Forex broker, such as the following.
- Regulated broker
- Regulated broker with financial license.
- MetaTrader 4/5 platform
- MetaTrader 4/5 platform, 8 account types, 6 account currencies (USD, EUR, GBP, CHF, JPY).
- Wide range of trading instruments
- Currency, Metals, Energy, Stock indices.
- Aggregated liquidity
- Aggregated liquidity and spreads from 0 pips. Instant processing of ECN / STP orders.
- Bonus programs
- Trade Credits, Turnover Bonuses, Welcome Bonus $500.
- Affiliate program
- CPA payouts up to $ 300. “Perpetual” payments for turnover up to $ 15 per 1 million USD turnover.
- Deposit and withdrawal of funds
- Segregation of client funds, Protection against negative balance, 0% commission, Wide range of payment systems.
Despite the maximum loyalty to each client, the project is primarily aimed at experienced traders, whose knowledge and skills allow taking full advantage of the advantages that ForexChief offers.
Nevertheless, given the high risks in Forex operations, the company also offers “cent” accounts for beginners, which, on the one hand, allow avoiding large financial losses, and on the other hand, make it possible to fully experience the complexity of working with real money.
ForexChief’s Trading Account Types
Connecting additional providers, squeaking for new solutions, and developing improvements for the liquidity aggregation technology are the current priorities in the development of the project.
|Account Type||MT4 DirectFX||MT4 Classic+||pamm-MT4 DirectFX||pamm-MT4 Classic+||cent-MT4 DirectFX||cent-MT4 Classic+|
|Trading Platforms||MT4 and MT5||MT4 and MT5||MT4 and MT5||MT4 and MT5||MT4 and MT5||MT4 and MT5|
|Required Minimum Deposit||$50||$50||$100||$100||$50||$50|
|Account Currency||USD, CHF, GBP, EUR, JPY||USD, CHF, GBP, EUR, JPY||USD, EUR||USD, EUR||USD, CHF, GBP, EUR, JPY||USD, CHF, GBP, EUR, JPY|
|Execution Model||Market Execution||Market Execution||Market Execution||Market Execution||Market Execution||Market Execution|
|Minimum Spread||0.0 pips||0.3 pips||0.0 pips||0.3 pips||0.0 pips||0.3 pips|
|Trading Commission||$1.5 per lot||None||$1.5 per lot||None||$1.5 per lot||None|
|Contract Size||100,000 units||100,000 units||100,000 units||100,000 units||100,000 units||100,000 units|
|Stop Out Level||30%||30%||30%||30%||30%||30%|
|Tradable Markets||60+ Forex, Metals, Energy, Indexes, Crypto||60+ Forex, Metals, Energy, Indexes, Crypto||60+ Forex, Metals, Energy, Indexes, Crypto||60+ Forex, Metals, Energy, Indexes, Crypto||42 Forex, Metals||42 Forex, Metals|
|Minimum Trading Volume||0.01 lots||0.01 lots||0.01 lots||0.01 lots||0.01 lots||0.01 lots|
|Maximum Trading Volume||100 lots||100 lots||100 lots||100 lots||100 lots||100 lots|
|Maximum Number Of Simultaneous Orders||500||500||500||500||200||200|
|Maximum Simultaneous Trading Volume In Total||Unlimited||Unlimited||Unlimited||Unlimited||1000 lots||1000 lots|
|Use of EAs||Allowed||Allowed||Allowed||Allowed||Allowed||Allowed|
|Welcome Bonus $500||Available||Available||Unavailable||Unavailable||Unavailable||Unavailable|
|Islamic Swap Free Account||Available||Available||Unavailable||Unavailable||Unavailable||Unavailable|
|Signup Pages||OpenMT4 DirectFX||OpenMT4 Classic+||Openpamm-MT4 DirectFX||Openpamm-MT4 Classic+||Opencent-MT4 DirectFX||Opencent-MT4 Classic+|
In addition to the standard steps in brand promotion among the target audience, the company aims at close B2B cooperation with major players to sell its liquidity based on the created high-tech infrastructure.
1. MT4 Direct FX account type
The main account type in the ForexChief line of trading accounts, aimed at experienced traders.
Distinctive features of this account are tight spreads without “markups” and a brokerage commission, the size of which is calculated based on the volume of the transaction at a rate of $ 15 per 1 million USD.
2. MT4 Classic Plus account type
A classic account type with a “floating” spread, where there is no commission for transactions.
Client orders are executed in the “Market Execution” mode, while the standard speed of execution of trade orders on the server is in the range of 100-150 ms (in normal market conditions).
3. Cent MT4 Direct FX account type
“Cent” account, the balance sheet dimension of which exceeds the standard one by 100 times.
Otherwise, this type of account is completely identical to MT4 Direct FX accounts.
These accounts will be convenient for clients who wish to test MT4 Direct FX on a “cent” analog.
4. Cent MT4 Classic Plus account type
“Cent” account, which differs from MT4.Classic + only in balance dimension.
Otherwise, these account types are identical.
Being an intermediate step between a demo account and a real standard account, cent-MT4 Classic + allows you to comfortably switch from “virtual” trading to working with real money.
* CFD Service. Your capital is at risk.
|Rating Traders Rating|
|Regulations Regulations & Licenses|
|Founded Founded in||2016 (7 years)|
|USA clients||Not Accepted|
|JPN clients||Not Accepted|
|Country Base||Republic of Vanuatu|
|Headquaters||1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu|
|Cryptos Available Crypto-Currencies|
|Negative Balance||Offer Negative Balance Protection|
|Client Funds Safety||Segregated|
|Deposits Deposit Methods|
|Withdrawals Withdrawal Methods|