ForexChief vs FBS
ForexChief | FBS |
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3.3
ForexChief is #7 in our CFD broker rankings. |
4.3
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Traders from US accepted |
Traders from US not accepted
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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. |
FBS is an award-winning forex and CFD broker based in Cyprus. The broker has a strong global reputation with authorization from the CySEC and ASIC, amongst others regulators. The brand has 17 million clients in over 190 countries, attracted by a diverse range of markets and the reputable MetaTrader platforms. |
Customer Reviews | |
4.7
Based on 3 ForexChief customer reviews
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Bonus Offer | |
$100 No Deposit Bonus | |
Promotions | |
Comment by Reviewer | |
"ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback." | "FBS is a great choice for traders of all experience levels and budgets with various account types, plus MetaTrader 4 and MetaTrader 5 access. That said, the broker's Cent account and intensive forex course will be particularly beneficial for beginners." |
Pros | |
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Cons | |
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Awards | |
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Instruments | |
CFDs, Forex, Metals, Commodities, Stocks, Indices | CFDs, forex, indices, shares, commodities, cryptocurrencies |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$10 | $5 |
Trading Platforms | |
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Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
VFSC | ASIC, CySEC, FSC, FSCA |
Margin Trading | |
Yes | Yes |
Margin Rate | |
0.1% | |
STP Account | |
Yes | Yes |
ECN Account | |
No | Yes |
DMA Account | |
No | No |
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 | Yes |
Market Maker | |
No | No |
P2P Trading | |
No | No |
Spot Trading | |
Yes | Yes |
Mobile Apps | |
iOS & Android | iOS & Android |
App Review | |
The FBS Trader app allows clients to manage their finances and speculate on 44 forex pairs, among other assets. Instant deposits are available, as well as one-click trading. Users can also conduct technical analysis via interactive charting with multiple indicators. The app is free to download from the respective app stores. |
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Android App Rating | |
4.9 |
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iOS App Rating | |
4.6 |
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Auto Trading | |
Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader |
Copy Trading | |
Yes | No |
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 | MT4 & MT5 |
VPS Hosting | |
No | Yes |
Tournaments | |
No | No |
Demo Competitions | |
No | Yes |
Ethical Investing | |
No | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
No | No |
Islamic Account | |
Yes | Yes |
Account Currencies | |
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Stock Exchanges | |
Commodities | |
CFD Trading | |
You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget. | You can go long or short on a decent suite of financial markets with leveraged CFDs. Users can choose between three reliable platforms with over 50 indicators and charting tools, plus fast market execution from 0.3 seconds. |
Leverage | |
1:1000 | 1:30 (EU & Restricted Countries), 1:3000 (Global) |
FTSE Spread | |
70 | From 0.0 |
GBPUSD Spread | |
0.9 | From 0.6 |
Oil Spread | |
12 | From 0.0 |
Stocks Spread | |
50 | Variable |
Forex Trading | |
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs. Trading takes place on the leading MT4 and MT5 platforms, which offer dozens of in-built technical tools for short-term forex strategies. | FBS offers a below-average range of 35+ majors, minors and exotics. That said, spreads are fairly competitive, averaging 0.7 pips for EUR/USD in the Standard account. There’s also an excellent range of forex market resources and tools on offer, including calculators and an intensive forex course. |
Forex App | |
The FBS Trader app allows clients to manage their finances and speculate on 44 forex pairs, among other assets. Instant deposits are available, as well as one-click trading. Users can also conduct technical analysis via interactive charting with multiple indicators. The app is free to download from the respective app stores. |
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GBPUSD Spread | |
0.9 | From 0.6 |
EURUSD Spread | |
0.4 | From 0.5 |
EURGBP Spread | |
0.9 | From 2.1 |
Assets | |
40 | 36 |
Cryptocurrency | |
ForexChief’s range of 5 cryptocurrencies paired with USD is smaller than most competitors. In addition, the average BTCUSD spread of 30 pips is not the cheapest. That said, the broker does offer some useful crypto trading guides for beginners. | FBS offers trading on crypto/metal, crypto/crypto or crypto/fiat pairs, making the broker a great pick for traders looking to diversify their digital asset portfolios. Spreads are also decent, averaging around 20.0 for BTC/USD. |
Spread | |
Variable | Floating |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
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