Axofa vs ForexChief

Axofa vs ForexChief Comparison Table 2023
Axofa Review 2023 ForexChief Review 2023
4.3

Axofa is #6 in our CFD broker rankings.

3.3

ForexChief is #5 in our CFD broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

Axofa is a forex and CFD broker registered in St Vincent and the Grenadines. The broker offers three account types with access to forex, commodities and indices. With ECN processing, low minimum deposits and no commissions, Axofa could be an attractive option, although the broker does not hold a reputable license.

ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

Bonus Offer
10% Deposit Bonus $100 No Deposit Bonus
Comment by Reviewer
"Axofa could be a good option for clients looking for social trading features alongside the MT5 platform, and are willing to trade with an offshore brand." "ForexChief will prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The large welcome bonus and low starting deposit will also appeal to new traders."
Pros
  • MT5 integration
  • Proprietary mobile app
  • Negative balance protection
  • Access to high leverage up to 1:1000
  • Low starting deposit of $1 for beginners
  • International broker accepting clients from the USA, India, Indonesia, and Ireland
  • High leverage up to 1:1000 is available
  • A welcome deposit bonus is offered to new users
  • The low minimum deposit of $10 will appeal to beginners
  • 8 account types to suit different strategies and requirements
  • Full range of investments including popular cryptos
  • STP/ECN execution with low spreads from 0.0 pips
  • Turnover rebates for active traders
  • Copy trading solution with signals
  • MT4 and MT5 integration
  • Low margin rates
Cons
  • Unregulated broker
  • Lack of transparency around pricing
  • Limited verifiable information about the broker’s owners and background
  • Inconsistencies between international subsidiaries and website information
  • Weak regulatory oversight
  • Limited market research
  • Withdrawal fees on several payment methods
Instruments
Forex, CFDs, Stocks, Indices, Commodities CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account
Yes Yes
Minimum Deposit
$1 $10
Trading Platforms
  • MT5
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
SVGFSA VFSC
Margin Trading
Yes Yes
Margin Rate
0.1%
STP Account
Yes Yes
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
Clients can follow copy trading signals on the MetaTrader platform. Alternatively, signal providers can generate extra income by selling their positions. You can start copy trading in a few easy steps.
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
No Yes
Account Currencies
  • USD
  • IDR
  • USD
  • EUR
  • GBP
  • JPY
  • CHF
Stock Exchanges
Commodities
CFD Trading
CFDs are available on popular asset classes with a competitive $1 minimum deposit. The broker offers very high, unrestricted leverage of 1:1000, which will amplify both profits and losses. ForexChief offers a competitive range of CFDs, encompassing crypto, indices, energies and metals. A clear pricing schedule is available to clients with no hidden charges. Traders can also access very high leverage up to 1:1000.
Leverage
1:1000 1:1000
FTSE Spread
NA 70
GBPUSD Spread
From 1.6 pips 0.9
Oil Spread
From 1.6 pips 12
Stocks Spread
NA 50
Forex Trading
Axofa offers 50+ forex pairs with raw spreads and low commissions. On the downside, the broker is not particularly transparent when it comes to their account conditions and fees. ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs on the leading MT4 and MT5 platforms. Spreads are tight starting from zero and there are no dealers or requotes.
GBPUSD Spread
From 1.6 pips 0.9
EURUSD Spread
From 1.6 pips 0.4
EURGBP Spread
From 1.6 pips 0.9
Assets
10+ 40
Cryptocurrency
Crypto trading not offered ForexChief supports crypto trading with five major digital currencies paired against the US dollar. Traders can bet on rising and falling prices with leveraged CFDs and market-leading trading software.
Spread
Variable
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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