ForexChief vs CMTrading

ForexChief vs CMTrading Comparison Table 2023
ForexChief CMTrading
3.3

ForexChief is #8 in our CFD broker rankings.

3.5
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

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.

CMTrading is one of South Africa's leading online day trading brokers, offering trades with leverage up to 1:1000 on the MetaTrader 4 and browser-based Sirix platforms as well as a bespoke copy trading service. The brokerage launched in 2012 and holds a license with South Africa’s Financial Sector Conduct Authority (FSCA).

Bonus Offer
$100 No Deposit Bonus
Comment by Reviewer
"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." "CMTrading is a great choice for traders based in South Africa looking to access highly leveraged forex and CFDs, plus copy trading tools and short-term signals."
Pros
  • 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
  • The broker supports the powerful MetaTrader 4 platform plus a proprietary Webtrader and a bespoke social trading feature
  • There's a decent array of educational resources for beginners on the online academy
  • Clients can access free short-term forex signals from the broker's platform
Cons
  • Weak regulatory oversight
  • Limited market research
  • Withdrawal fees on several payment methods
  • Spreads are uncompetitive across accounts compared to competitors
  • The broker's market coverage is limited, including only 100+ stocks
  • There are no additional third-party analysis tools such as AutoChartist
Instruments
CFDs, Forex, Metals, Commodities, Stocks, Indices Forex, CFDs, Indices, Shares, Energies, Metals, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$10 $100
Trading Platforms
  • MT4
  • MT5
  • CMTrading Webtrader
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
VFSC FSCA, FSA
Margin Trading
Yes Yes
Margin Rate
0.1%
STP Account
Yes No
ECN Account
No Yes
DMA Account
No Yes
MAM Account
No No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No 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
Yes 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. The broker's Copykat solution lets clients watch, copy and replicate the success of others traders. Clients can start mirroring positions once they have opened an account with a $250 minimum payment.
Social Trading
No Yes
Trade Signals
Yes 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
Inactivity Fee
$15
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • JPY
  • CHF
  • USD
  • EUR
  • GBP
  • ZAR
Stock Exchanges
Commodities
CFD Trading
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. Trade CFDs on forex, shares, indices, energies, metals and cryptocurrencies with variable leverage up to 1:200 and floating spreads. Traders can use the popular MetaTrader 4 platform or try the user-friendly, web-based Sirix, which also delivers real-time trading tips and detailed market forecasts.
Leverage
1:1000 1:200
FTSE Spread
70 35
GBPUSD Spread
0.9 2.6
Oil Spread
12 6
Stocks Spread
50 0.1
Forex Trading
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. Trade 50 forex pairs with floating spreads starting from 2+ pips on the regular account through to a minimum of 0.9 pips on premium ECN accounts. Traders benefit from in-depth forex education resources on CMTrader's academy and from daily signals.
GBPUSD Spread
0.9 2.6
EURUSD Spread
0.4 1.5
EURGBP Spread
0.9 2.6
Assets
40 50
Cryptocurrency
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. Trade 23 of the most popular cryptocurrency assets, including BTC, ETH and SOL, in CFD pairs with USD and spreads from 0.02. Traders will not own the underlying tokens with these derivatives.
Spread
Variable From 0.02
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BTC
  • LTC
  • ETH
  • XRP
  • LINK
  • XLM
  • XMR
  • XDG
  • SOL
  • BCH
  • ADA
  • DOT
  • UNI
  • SHIB
  • VET
  • TRX
  • XEM
  • THT
  • BNB
  • MATIC
  • MANA
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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