Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
xChief Pros & Cons
- high-security level;
- favorable trading conditions, bonuses, and affiliate programs.
- support service only works 24/5;
- few features for passive trading;
- no trading credits (analog of bonus for depositing) on МТ5;
xChief (ForexChief) is an all-inclusive online platform for margin trading in currency contracts and precious metals. The STP/NDD (straight-through processing/no dealing desk) model is the technical basis of the broker’s operation. Such a solution excludes conflicts of interest between the company and its clients and significantly improves the quality of services. It allows the company to offer competitive trading conditions due to tight spreads and fast execution of orders. The broker pays special attention to the steady operation of the platform and software provided to its traders.
xChief (ForexChief) operates under a dealer in securities license issued by MISA (Mwali International Services Authority in the Island of Mwali, reg.number HY00923433 and license number T2023379).
TU Expert Verdict
xChief demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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xChief User Reviews
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5-star
2%
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4-star
2%
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3-star
33%
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2-star
35%
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1-star
29%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria5 /10The trading and non-trading commissions of xChief have been analyzed and rated as having Medium fees, with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- Above-average Forex trading fees
- Deposit fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of xChief with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, xChief’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
xChief Standard spreads xChief OANDA FOREX.com EUR/USD min, pips 0.1 0.1 0.7 EUR/USD max, pips 0.8 0.5 1.2 GPB/USD min, pips 0.1 0.1 0.9 GPB/USD max, pips 1.0 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
xChief RAW/ECN spreads xChief OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3 3.5 5 EUR/USD avg spread 0.4 0.15 0.2 GBP/USD avg spread 0.4 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with xChief. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
xChief Non-Trading Fees xChief OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0-9 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0-2 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is xChief Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria4.7 /10xChief has a safety score of 4.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Track record over 18 years
- Not tier-1 regulated
xChief Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation MISA (Mwali) Full Name Mwali International Services Authority Country of regulation The Comoros Investor Protection Fund No specific fund Regulation Level Tier-3 xChief Security Factors Foundation date 2008 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.6.4 /10xChief offers the following account options: Standard, ECN/Raw spread, Cent, Micro, Swap Free.
xChief covers the core account types, making it convenient for traders with different preferences and strategies.
- Low minimum deposit
- Forex account with Micro lots
- Tight spread ECN account
- No Demo account
- No VIP account option
xChief account types vs top competitors ForexChief Trading.com Plus500 Standard YesYesYesECN/Raw spread YesNoNoDemo NoYesYesCent YesNoNoMicro YesNoNoSwap Free YesNoNoVIP NoNoNoManaged NoNoNoxChief accounts trading conditions
xChief (ForexChief) offers several account types from which to choose. Deposits can be made in USD, CHF, GBP, EUR, JPY, and RUB. Regardless of the selected account type, the minimum deposit is 50 USD or the equivalent amount in another currency.
The maximum leverage is 1:1000 for MT4 and 1:400 for MT5. Requotes are absent, irrespective of the account type. MT4 offers a hedging accounting system and MT5 offers a hedging or netting accounting system for all account types. It should be noted that trading credits (analog of bonus for depositing) are available on МТ4, but not on MT5.
Account types:
Account Type Description DirectFX Here, spreads are from 0 pips; $15 fee for withdrawing $1 million; the minimum order volume is 0.01 lots; swap-free is available; the total maximum volume of open orders (in lots) is unlimited; and the maximum order volume is 100 lots. You can place no more than 500 orders; MT4.Classic+ is identical to DirectFX by almost all parameters. The minimum spread, however, is 0.3 pips and there is no $15 fee on withdrawing $1 million; Cent.DirectFX is the same as DirectFX, only it’s a cent account. The maximum number of open cent orders is 1,000 lots and the maximum order volume is 100 lots; Cent_DirectFX+ is a cent analog of the Classic+ account. With xChief (ForexChief), you can trade on the classic MetaTrader 4 and MetaTrader 5 platforms, as well as mobile platforms. Before opening a live account, you should test your trading strategy by using a demo account that doesn’t require making deposits. After that, the broker advises opening a cent account so as not to risk large amounts of money.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7.5 /10xChief received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
xChief provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank wire transfers available
- USDT (Tether) supported
- Minimum deposit below industry average
- Bitcoin (BTC) accepted
- Deposit fee applies
- Limited deposit and withdrawal flexibility, leading to higher costs
- Wise not supported
What are xChief deposit and withdrawal options?
xChief provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
xChief Deposit and Withdrawal Methods vs Competitors xChief Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal NoNoYesWise NoNoNoBTC YesNoNoWhat are xChief base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. xChief supports the following base account currencies: USD, EUR, GBP, JPY, CHF, RUB.
What are xChief's minimum deposit and withdrawal amounts?
The minimum deposit on xChief is $0, while the minimum withdrawal amount is $30. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact xChief’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.8 /10xChief offers a limited selection of trading assets compared to the market average. The platform supports 150 assets in total, including 40 Forex pairs.
- Indices trading
- Copy trading platform
- Crypto trading
- Limited asset selection
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by xChief with its competitors, making it easier for you to find the perfect fit.
ForexChief Trading.com Plus500 Currency pairs 40 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 150 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products xChief offers for beginner traders and investors who prefer not to engage in active trading.
ForexChief Trading.com Plus500 Bonds NoNoNoETFs NoNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at xChief by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with xChief in 10 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at xChief is $0. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Quick KYC verification (1 business day or less)
- Account setup process may feel less convenient for beginners
xChief account opening ForexChief (xChief ) Trading.com Plus500 Online Registration YesYesYesMinimum deposit $0 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 10 20 KYC time (days) 1 2 3 Is xChief available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
It is very easy to become a client of xChief (ForexChief).
To log in to your xChief (ForexChief) user account, you just have to click the corresponding button:
Enter your email and password:
If you don’t have an account, click “Open a Live Account” and fill out the registration form that requests personal information. You will also need to get verified.
After registration and logging in, you can make a deposit into your account, as well as download and open the МТ4/МТ5 platform.
In your user account, you can select trading instruments, use the broker’s bonuses, and deposit/withdraw funds.
Your xChief (ForexChief) user account also provides access to:
- latest analytical data;
- statistics on trading with ATS (alternative trading systems);
- statistics on effectiveness and income from affiliate programs;
- educational content;
- history of trading transactions and deposits/withdrawals;
- current quotations;
- support service that offers professional advice.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.7 /10xChief received a score of 7.7/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- Trading bots (EAs) allowed
- One-click trading
- Free VPS for uninterrupted trading
- MetaTrader is available
- No access to cTrader and its advanced tools.
- No access to API
- No access to a proprietary platform
Supported trading platforms
xChief supports the following trading platforms: MT4, MT5. This selection covers the basic needs of most retail traders. We also compared xChief’s platform availability with that of top competitors to assess its relative market position.
ForexChief Trading.com Plus500 MT4 YesNoNoMT5 YesYesNocTrader NoNoNoTradingView NoYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader NoYesYesKey xChief’s trading platform features
We also evaluated whether xChief offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts YesTrading bots (EAs) YesOne-click trading YesScalping YesSupported indicators 68 Tradable assets 150 Additional trading tools
xChief offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
xChief trading tools vs competitors ForexChief Trading.com Plus500 Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. YesYesNoAPI NoNoNoFree VPS YesNoNoStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoNoAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. YesNoNo -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria8 /10xChief supports mobile trading, offering dedicated apps for both iOS and Android. xChief received 8/10 in this section, reflecting strong user engagement and well-developed functionality. High ratings, solid download numbers, and the presence of advanced mobile features contributed to the high score.
- Indicators supported
- Strong Android user ratings, currently at 4.8/5
- Solid iOS user feedback, with a rating of 4.7/5
- Limited features vs desktop
We compared xChief with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
ForexChief (xChief ) Trading.com Plus500 Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 100,000 50,000 10,000,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 4.7 4.8 4.7 Google Play score 4.8 4.7 4.4 Mob. 2FA YesYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at xChief by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria3 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationSupport service is ready to answer clients’ questions and help traders around the clock 5 days a week.
- Multiple contact options
- Multi-language support
- Website section with answers to frequently asked questions
- Insufficient FAQs section
Support can be contacted in several ways:
- email;
- online chat;
- messengers at: Facebook, Viber, Skype, Whatsapp, VKontakte, and Telegram;
- feedback form.
Support is available on the xChief (ForexChief) website and in user accounts.
Contacts Foundation date 2008 Registration address Suit 32-10, ParkLane Tower, Business Bay, Dubai, UAE Regulation MISA Licence number:
T2023379Official site https://www.xchief.com/ Contacts info@xchief.com +971 31593652
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FAQs
How is xChief regulated and what does its safety score indicate?
xChief has a safety score of 4.7/10, which corresponds to a low security level in this review. It is regulated by the Mwali International Services Authority (MISA) in The Comoros, a Tier-3 regulator, and offers negative balance protection and KYC verification, but it is not Tier-1 regulated and there is no specific investor compensation fund mentioned.
What types of trading accounts and key conditions are available at xChief?
According to this section, xChief offers Standard, ECN/Raw spread, Cent, Micro, and Swap Free accounts, but does not provide VIP or demo accounts. The minimum deposit is 50 USD (or equivalent), leverage goes up to 1:1000 on MT4 and 1:400 on MT5, and specific account options like DirectFX and MT4.Classic+ differ mainly in spreads and certain fee details.
What do user reviews say about overall satisfaction with xChief?
Based on available user reviews, xChief has a user satisfaction score of 4.3/10 from 55 reviews, with most ratings clustered in the 2- and 3-star range. The distribution (2% 5-star, 2% 4-star, 33% 3-star, 35% 2-star, 29% 1-star) indicates that overall user sentiment in this dataset is mostly negative.
What trading platforms and tools does xChief provide, according to recent reviews and analysis?
This section states that xChief supports MT4 and MT5, allowing features such as one-click trading, trading bots (EAs), scalping, alerts, and 2FA, with 68 indicators and about 150 tradable assets available. Additional tools include Trading Central, Autochartist, and a free VPS, while there is no cTrader, proprietary platform, API access, or strategy (EA) builder mentioned.
What feedback is available on xChief’s mobile trading apps and their features?
The review notes that xChief’s mobile apps for iOS and Android received a score of 8/10, supported by solid user ratings (4.7 on the App Store and 4.8 on Google Play) and around 100,000 total downloads. Mobile features include 2FA, indicators, and alerts, while the main limitation mentioned is a smaller set of charting tools.
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