ForexChief vs Quotex

ForexChief vs Quotex Comparison Table 2023
ForexChief	Quotex
Review 3.3 ForexChief is #8 in our CFD broker rankings.	Review 4.4
Traders from US accepted	Traders from US not accepted See available binary options brokers
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.	Quotex is a binary options broker founded in 2019 and based offshore in St. Vincent and Grenadines. Over 400 digital options are available covering currencies, commodities, stocks and crypto. Binary contracts span 5 seconds to 4 hours with high payouts of 95%+ depending on market conditions.
Bonus Offer
$100 No Deposit Bonus	30% 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."	"Quotex is best for making short-term bets on popular markets. The payouts up to 98% are above average and the platform is easy to use. That said, the lack of regulatory oversight, education and weak support are drawbacks."
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	Quotex is excellent for short-term binary trading with turbo contracts from 5 seconds Account funding is straightforward thanks to the wide range of payment methods and zero fees The platform delivers a superb user experience with a strong charting package The $10 starting deposit and $1 minimum stake make Quotex.io great for beginners Daily signals are useful for finding opportunities
Cons
Weak regulatory oversight Limited market research Withdrawal fees on several payment methods	Quotex is unregulated, which means traders receive limited safeguards Despite advertised payouts of up to 98%, testing shows average payouts trail best-in-class broker Pocket Option There is no copy trading, which could support new traders looking to learn from experienced investors Customer support was weak during testing with no live chat and slow response times Quotex trails industry leaders when it comes to education and market research
Instruments
CFDs, Forex, Metals, Commodities, Stocks, Indices	Digital Options on Stocks, Indices, Forex, Commodities, Cryptos
Demo Account
Yes	Yes
Minimum Deposit
$10	$10
Trading Platforms
MT4 MT5	Web Platform Mobile App
Payment Methods
ADVcash Bitcoin Payments Credit Card Debit Card Ethereum Payments FasaPay Neteller Perfect Money Skrill UnionPay WebMoney Wire Transfer	Bitcoin Payments Credit Card Debit Card Ethereum Payments Maestro Mastercard Perfect Money Visa Wire Transfer
Minimum Trade
0.01 Lots	$1
Regulator
VFSC	None
Margin Trading
Yes	No
Margin Rate
0.1%
STP Account
Yes	No
ECN Account
No	No
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	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	Android
Auto Trading
Expert Advisors (EAs) on MetaTrader	No
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	Daily Trading Signals
VPS Hosting
No	No
Tournaments
No	Yes
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP JPY CHF	USD EUR GBP INR JPY MYR IDR RUB BRL NGN THB VND UAH
Stock Exchanges
Australian Securities Exchange CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange IBEX 35 Japan Exchange Group Nasdaq New York Stock Exchange S&P 500	Australian Securities Exchange Borsa Italiana CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange IBEX 35 Japan Exchange Group Nasdaq S&P 500
Commodities
Gold Natural Gas Oil Silver	Gold Oil Silver
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.	CFD trading not offered
Leverage
1:1000
FTSE Spread
70
GBPUSD Spread
0.9
Oil Spread
12
Stocks Spread
50
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.	You can trade binaries on 20+ currency pairs including majors, minors and exotics. This is a smaller range of forex assets than leading competitors but payouts are decent, climbing to over 80% on the EUR/USD.
GBPUSD Spread
0.9	N/A
EURUSD Spread
0.4	N/A
EURGBP Spread
0.9	N/A
Assets
40	20+
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.	Quotex offers binary options trading on a handful of cryptos. While the range of digital currencies is narrow, there are leading tokens, including Bitcoin, Litecoin and Ethereum. Payouts on cryptocurrencies are also above average.
Spread
Variable	N/A
Coins
BTC BCH ETH LTC XRP	BTC LTC ETH XRP
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
Binary Options
Binary options trading not offered	Quotex offers ultra-short-term binaries on hundreds of assets with up/down contracts that expire between 5 seconds and 4 hours. The broker provides an intuitive web platform, with multiple charting styles, dozens of indicators and daily trading signals.
Payout
	98%
Expiry Times
	5 seconds - 4 hours
Ladder Options
No	No
Boundary Options
No	No

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