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Abstract:ForexChief-Ltd. is a licensed broker by the Vanuatu Financial Services Commission, applying the STP/NDD execution model.
General Information & Regulation
ForexChief is an online Forex and CFD trading broker that offers multiple assets for trading online via the MetaTrader platforms. Founded in 2014, its head office is in Vanuatu while other representative offices are in Switzerland, Singapore and Nigeria. ForexChief Ltd is incorporated in the Republic of Vanuatu. It is authorized and regulated by the Vanuatu Financial Services Commission (VFSC),with regulatory license number 14777.
Market Instruments
ForexCheif provides investors with trading products in popular financial markets, including Forex major currency pairs, minor currency pairs, exotic currency pairs, spot metals, commodities, stock indices, and cryptocurrencies.
Minimum Deposit
ForexChief MT4 & MT5 trading platforms have four different types of accounts, respectively. MT4 trading platform account types are mainly MT4 Direct FX, MT4 Classic+, Cent-MT4 Direct FX, and Cent -Classic+). The minimum deposit is $50 or the currency equivalent, and the trading leverage is up to 1:1000. MT5 trading platform account types are mainly MT5.DirectFX, MT5.Classic+, Cent-MT5.DirectFX and Cent-MT5. MT5 Classic+ account (Cent- MT4.Classic+). The minimum deposit for the accounts is $50,
ForexChief Leverage
When it comes to trading leverage, the maximum leverage level offered by ForexCheif is relatively high, reaching up to 1:400. Leverage magnifies the returns from favorable movements in a currency's exchange rate.It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads & Commissions
The minimum spread for MT4.DirectFX accounts is 0 pips for EURUSD, 0 pips for GoldUSD and SilverUSD, 1.4 pips for UK Crude Oil, and 1.2 pips for US Crude Oil, with a commission of 15 USD per million USD ($15 per 1 mln. USD). MT4 Classic+ accounts have a minimum spread of 0 pips for EURUSD, 9 pips for XAUUSD, and 2 pips for USD Silver with no trading commissions.
Trading Platform
ForexCheif offers traders the market-leading and widely acclaimed MT4, MT4 iPhone & Android & iPad versions, as well as MT5, MT5 iPhone & Android & iPad versions to meet a wide range of trader needs.
Deposit & Withdrawal
ForexCheif supports a variety of deposit and withdrawal methods, mainly bank transfer SWIFT, bank transfer SEPA, local bank transfer, credit/debit card, China UnionPay, Skrill, NETELLER, WebMoney (0.8% fee for a deposit up to $50/euro), FasaPay, Perfect Money (1.99% fee for deposits). Users withdrawing via credit/debit card need to pay 2%. Withdrawing via Skrill is subject to a 1% commission.
Customer Support
ForexChief client support desk operates from the different offices of the broker. A way to quickly reach the support team is through web chat, WhatsApp, Skype, Viber, Telegram and Facebook. The chat representatives are available 24/7.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.