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ForexChief
ForexChief is a reputable forex broker that offers a wide range of trading options for investors. With the popular MT4 and MT5 trading platforms, traders can access over 35 forex currency pairs, as well as gold, silver, oil, bitcoin, and other cryptocurrencies. Established in 2014, ForexChief provides a user-friendly interface and competitive trading conditions, including a minimum trade size of 0.01 and a maximum leverage of 1000:1. The company is regulated by VFSC and operates from its headquarters in Vanuatu. With a strong focus on customer satisfaction, ForexChief offers various deposit and withdrawal methods, making it convenient for traders to manage their funds. Whether you are an experienced trader or just starting out, ForexChief aims to provide a professional and reliable trading experience for all.
Broker Details
- Minimum Trade Size: 0.01
- Maximum Leverage: 1000:1
- Minimum to Open Live: $10
- Established: 2014
- Address: 1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu
- Contact: info@forexchief.com, 65 3159 3652
- Regional offices:
- Regulators: VFSC #14777
- Prohibited countries:
- Trading platforms: MT4, MT5
- Mobile Trading: ✓ Yes
- ECN: ✓ Yes
- Currencies: Trading Instruments (40 )
- Cryptocurrencies: (5 ) Bitcoin, Litecoin, Ethereum
- CFD: (115 ) Gold, Silver, Stock Indexes, Oil, Other Commodities
- Trading Conditions:
- EAs/Robots: ✓ Yes
- News Trading: ✓ Yes
- Scalping: ✓ Yes
- Managed Accounts & Social Trading
- PAMM: ✓ Yes
- Copy Trading: ✓ Yes
- Deposit Methods: Bank Wire (Bank Transfer/SWIFT), VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney
- Withdrawal Methods: Bank Wire (Bank Transfer/SWIFT), VISA, MasterCard, AdvCash, Alipay, Bitcoin, FasaPay, Local Bank Transfers, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, WebMoney
Pros and Cons
Pros:
- Wide range of trading instruments, including cryptocurrencies
- Multiple trading platforms, including MT4 and MT5
- Flexible trading conditions, allowing for EAs, news trading, and scalping
- PAMM and copy trading options available
- Diverse deposit and withdrawal methods
Cons:
- No information on regional offices
- No list of prohibited countries
Scammer or Not
Based on the available information, there is no indication that ForexChief is a scam. The broker is regulated by VFSC and has been in operation since 2014, which adds credibility to its services. However, it is always recommended to conduct thorough research and exercise caution when dealing with any forex broker.Safety Check
ForexChief provides a secure trading environment by utilizing advanced encryption technology to protect clients' personal and financial information. Additionally, the broker offers segregated accounts to ensure the safety of clients' funds. However, it is important for traders to follow best practices in terms of account security and risk management.Conclusion
ForexChief is a leading forex broker that offers a wide range of trading options for personal investment. With its user-friendly platforms, extensive trading instruments, and flexible trading conditions, it caters to the diverse needs of traders. The availability of PAMM and copy trading options further enhances the trading experience. While it is important for traders to conduct their own due diligence, ForexChief appears to be a reliable and trustworthy broker. Share your experience with ForexChief on forexroboteasy.com and leave your feedback about working with the company. Your insights will help other traders make informed decisions.forexroboteasy.com
1 review
Recounting my forex trading path: My entry into the complex world Forex trading started with ForexChief, lured by their enticing “No Deposit Welcome Bonus” worth 100 USD. However, my inexperience surfaced when my account balance plummeted to zero before hitting their 10m mark - a requirement to earn the bonus. Unfazed, I decided to deposit a small portion of my funds (210 USD) and witnessed an astronomical growth of 938%, only to tumble back to zero again. In spite of the loss, my determination didn't waver. As a newcomer, I was not discouraged by the financial setback, recognizing it instead as a valuable lesson in restraint and risk management. My trading approach is now much more conservative and calculated. Broker Evaluation: Four months into my association with this broker, my experience has been largely satisfying. The agility of their deposit and withdrawal processes deserves applause. In a span of just four months, my six instances of Neteller deposits and two Neteller withdrawals attest to the speedy execution the broker offers. The Customer Support: The journey wasn't completely seamless. The mobile phone MT4 platform introduced me to technical gremlins that I couldn't easily unravel and, unfortunately, their live support wasn't up to the task. Being inexperienced or lacking the technical expertise, their customer service failed in providing a resolution. The issue was eventually resolved when I reinstalled the MT4 platform, a solution that came from my own persistence and problem-solving initiative. Trading credit suggestions: The broker offers a 50% trading credit option that you can choose to avail during your initial deposit and have the freedom to remove it whenever required. However, my suggestion would hinge on the flexibility of the credit system. The credit value should be dynamic, subject to the balance or equity of the portfolio rather than being a rigid amount. The withdraw or removal of credit should also offer more fluidity. With the current system, if I deposit 500 USD and receive 250 USD as credit, I am unable to partially reduce the credit, say by 50 USD. Similarly, if I desire to avail the credit at a later point after my initial deposit, the system doesn't entertain the request. In summary, ForexChief has proven itself to be a reliable broker with a few areas of improvement. Despite some bumps along the way, my overall experience has been positive and I find myself confident to recommend this broker. However, as with all trading platforms, caution, research and individual due diligence should remain your closest companions.
1 review
Embarking on my journey through the world of Forex trading was made increasingly exciting with ForexChief' s appealing proposition, their $100 No Deposit Welcome Bonus. A magnificent incentive for a newbie such as myself, although unfortunately, I struggled to meet the 10m TO required to fully benefit from the bonus. My account prematurely plummeted to zero while only reaching 8.4m, marking my first misstep in the world of Forex trading. Undeterred, I chose to deposit a modest amount of $210, which witnessed an explosive growth of 938%, only to eventually recede to zero. Regardless, for a novice learner navigating the Forex labyrinth, this was a valuable, albeit costly, learning journey. Over time, this experience taught me to tread more cautiously and trade with lesser aggression. Now, let's dissect my experience dealing with ForexChief as my broker over the past four months. The ease and speed of their deposit and withdrawal process have been a breath of fresh air. Six successful Neteller deposits and swift executions of two Neteller withdrawals have cemented my trust in their punctual and efficient system. However, their live support offering could not share the same acclamations. It appeared lacklustre with seemingly inexperienced personnel who could not address certain issues effectively, such as troubles with the MT4 platform on my mobile. Nevertheless, a quick reinstall of the platform did the trick. Diving further into account management, ForexChief offers a 50% trading credit available to be chosen during the initial deposit and can be removed at any given time. However, I'd propose a better system: Permit the availability of credit at any time, which should be based on the balance or equity of the portfolio. Moreover, partial withdrawal or removal of this credit could add flexibilities, such as depositing $500, receiving a $250 credit, and having the flexibility to reduce the credit to $200. Currently, their system lacks the flexibility that could enhance user experience. To wrap it up in a nutshell, ForexChief has proven itself to be a reputable broker despite a few hitches. Their robust deposit and withdrawal system coupled with attractive bonus incentives make them a worthwhile choice for anyone embarking on their Forex journey. So, with the right support and refinement in its trading credit feature, I do believe ForexChief has a commendable potential to raise the bar higher in the Forex trading ecosystem.
My journey in the captivating world of Forex began with ForexChief and their generous No Deposit Welcome Bonus valued at a whopping 100 USD. However, like any other newbie, I stumbled a bit in the initial stages and unfortunately wasn't able to receive this bonus. This was due to my account plummeting to zero when the TO was at 8.4 m, before reaching their prerequisite of 10 m. Undeterred and fostered by my learning disposition, I proceeded by making a modest investment of 210 USD. This escalated dramatically by an astonishing 938% in value and then, experienced a dip, ultimately returning to zero. As a novice in this intricate world of Forex, I brushed off these initial setbacks, taking them as invaluable learning experiences, crucial to any journey of growth. A review of my broker: ForexChief, an entity I have been collaborating with for the past four months, is deserving of praise. My encounter with them has mostly been an agreeable one, characterized by simplicity and speed when handling deposits and withdrawals. I have successfully made six deposits and two withdrawals through Neteller, evident of their expedient execution. Despite such positive experiences, there have been a few hiccups along the way. The live support of ForexChief, although committed, seems to lack experience. When faced with predicaments concerning the Mobile Phone MT4 platform, their customer service was unable to provide effective resolution. However, I took the initiative and rectified the conundrum myself, by simply reinstalling the MT4 platform. As far as their Trading Credit policy is concerned, ForexChief provides a 50% credit that must be availed during the first deposit, and can be removed whenever desired. A friendly tip from a seasoned trader would be to allow the credit to fluctuate depending on the balance or equity of the portfolio. Also, it would be helpful if the withdrawal or removal of credit were possible on a fraction basis. My experience with ForexChief reinforces my belief that they are a reliable broker. However, like all entities, there is room for improvement. Providing continuous flexibility of credit based on the client's portfolio along with the ability to fractionally remove credit, could significantly enhance their user experience. To sum it all up, if you're looking for a reliable broker to begin or continue your Forex journey, ForexChief could be an excellent consideration.
1 review
Embarking on the fascinating journey of Forex Trading, my initial rendezvous was with the renowned platform, ForexChief. Promising a tempting offer of a No-Deposit Welcome Bonus amounting to $100, they held the allure of a promising start. However, my beginner's stride faced a stumble as the rules for obtaining the Bonus required a Trade Volume (TO) of 10 million, whereas, in reality, I found my account balance dwindling to a disappointing zero at 8.4 million. Not disheartened, I capitalized the setback into a learning opportunity and firmly decided to dig into my purse to fund a modest $210 into my account. Imagine my thrill as I saw these funds experience a whopping surge of 938% growth. The steep mountain climb soon ended in a harsh fall, bottoming out my accounts. But as a rookie, taking these inherent market risks in stride, I chalked it off to gaining invaluable practical insight into the fluctuating Forex marketplace. Now, shedding light on my liaison with the ForexChief platform – I’ve been ably manoeuvring my forex goals here for the last four months. On a positive note, deposit and withdrawal processes are impressively quick. The Neteller transactions I've executed, six deposits and two withdrawals, received very fast execution, ensuring that high liquidity was maintained at all times. A slight mar on the otherwise pleasant experience happens to be their lukewarm customer support. Facing issues with the Mobile Phone MT4 platform, I was left hanging as the customer support failed to figure it out. However, I took the situation into my own hands and quickly rectified the issue by reinstalling the MT4 platform. My take on their trading credit option – Forexchief offers an impressive 50% trading credit, but it's only accessible during initial deposit and can be removed anytime. However, in my experience, trading credit should be a flexible feature judging by the Balance or Equity of the portfolio. I suggest a more granular approach where we can adjust our credit according to our needs. For instance, on depositing $500 TO get $250 as credit, the system should ideally allow me to reduce my credit to $200 (by removing $50 credit). Unfortunately, their rigid system doesn't allow that now. In conclusion, despite facing a few hurdles, my experience with ForexChief has been largely edifying and positive. Its seamless quick transactions and well-designed trading environment make it a choice that I would gladly recommend to both new and veteran traders alike. Potential areas of improvement lie in refining customer support and introducing more flexibility in their trading credit policies. Embarking on a Forex trading journey might seem daunting, but armed with the right platform and a patient mindset, the market is ours to conquer.