ForexChief review highlights this broker’s offering across regulation, platform access, account types, and more. Established as an STP broker, ForexChief caters to both retail and institutional clients seeking low-cost trading across a wide asset base.

Regulation and Safety

ForexChief Ltd is regulated by the Vanuatu Financial Services Commission (VFSC) under license number 14777. While VFSC is considered a Tier 3 offshore regulator, ForexChief implements protective measures including fund segregation and negative balance protection. However, it is not covered by any investor compensation scheme such as FSCS or ICF.

Execution Model and Trading Platforms

ForexChief operates on an STP (Straight Through Processing) model with no dealing desk (NDD) intervention. Traders can benefit from access to raw spreads and fast execution. The broker supports both MetaTrader 4 and MetaTrader 5 on desktop, web, and mobile. FIX API connectivity is available for institutional or algorithmic traders, alongside free VPS hosting for qualifying accounts.

Markets and Instruments

ForexChief provides access to a diverse range of trading instruments, including:

• 40+ forex pairs
• Precious metals (gold, silver)
• Indices (major US, European, and Asian)
• Commodities (oil, gas)
• Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
• Stocks and ETFs (limited selection)

Accounts, Spreads and Leverage

ForexChief offers a range of account types to accommodate varying trading styles:

• Cent Account: Lower risk with micro-lot support
• Classic MT4/MT5: Spread-based with zero commission
• Direct FX/MT4/MT5: Raw spreads from 0.0 pips + $15 per lot commission
• Islamic Accounts: Swap-free option available on request

Spreads start from 0.0 pips on Direct accounts. Maximum leverage is 1:1000 for forex, with a 50% stop-out level and a $10 minimum deposit.

Funding and Base Currencies

Clients can fund their accounts via:

• Bank wire transfer
• Credit/debit cards
• Skrill, Neteller, Perfect Money
• Crypto wallets (BTC, ETH, USDT)

Accepted base currencies include USD, EUR, GBP, JPY, and BTC. Most deposits are instant; withdrawals are processed within 1–2 business days.

Client Protections and Features

Despite offshore regulation, ForexChief includes key safety features:

• Negative balance protection
• Segregated client funds
• Two-factor authentication (2FA)
• Biometric login via mobile apps
• Internal audit controls

Institutional and Retail Offering

Retail clients benefit from flexible leverage, copy trading, and MT4/MT5 tools. Institutional traders can access:

• FIX API connectivity
• VPS hosting for EA users
• White-label solutions
• Custom liquidity aggregation

Prime brokerage is not explicitly offered.

Pros and Cons

Pros

• Raw spread accounts with high leverage
• STP/NDD execution model
• Free VPS and FIX API access
• Wide range of deposit methods, including crypto
• Cent accounts for low-risk strategies

Cons

• Offshore regulation with limited investor protection
• No FSCS or EU compensation coverage
• Limited share and ETF instruments

Frequently Asked Questions

Is ForexChief regulated?

Yes, ForexChief is regulated by the Vanuatu Financial Services Commission (VFSC), license number 14777.

What trading platforms does ForexChief offer?

ForexChief provides MetaTrader 4 and MetaTrader 5 across desktop, web, and mobile platforms.

Does ForexChief support crypto deposits?

Yes, deposits and withdrawals can be made in cryptocurrencies like BTC, ETH, and USDT.

What is the minimum deposit at ForexChief?

The minimum deposit requirement is $10, making it suitable for beginners.

Are Islamic accounts available at ForexChief?

Yes, Islamic swap-free accounts are available upon request across most account types.