xChief Review 2026
Pros
- xChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
- The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library
- Traders can access a copy trading solution via the MetaQuotes Signals service
Cons
- The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
- The total range of 150+ assets is much lower than most competitors who typically offer hundreds
- Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
xChief Review
XChief (Formerly ForexChief) is a multi-asset online broker offering 100+ instruments on the MetaTrader 4 and MetaTrader 5 platforms. Access STP direct to market execution with no interference. Our xChief broker review will cover account types, leverage, sign up and login requirements, regulation, and more.
xChief Headlines
The brokerage was established in 2014 as ForexChief, now operating from headquarters in Dubai. xChief Ltd is licensed by the Australian Securities and Investments Commission (ASIC) under registration number 001312104, and by the Mwali International Services Authority under registration number HY00923433, as an international brokerage and clearing house.
The broker uses STP/NDD technology with direct-to-market execution from global servers. A primary focus of the company is the technical stability of the trading servers and software to create a secure investing environment for all customers.
xChief had further office presence including within Indonesia and Nigeria. Eight account types and five base currencies also make the trading firm accessible to global investors.
Trading Platform
xChief clients can access MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both are industry-recognised platforms available for free download to PC and Mac desktop devices or compatible online via all major web browsers.
When we used xChief, our experts found that MT4 is the best fit for beginners and forex traders. The previous ForexChief platforms received the same evaluation.
In contrast, MT5 offers several extra features and tools that will benefit experienced traders, including 2 additional order types and 12 more charting timeframes. MT5 is also faster and built for trading non-forex assets.
MetaTrader 4
- 9 timeframes
- Live news streams
- Customizable charts
- 4 pending order types
- Analysis of quote dynamics
- MQL4 programming language
- Access to expert advisors (EAs)
- 50+ built-in technical indicators
- Ability to overlay analytical objects
- User-friendly, multilingual interface
- Social trading with signal service
MetaTrader 5
- 21 timeframes
- One-click trading
- Copy trading support
- Built-in virtual hosting
- 4 order execution modes
- Built-in economic calendar
- 80+ built-in technical indicators
- Set stop loss and take profit levels
- Enhanced order management capabilities
- Customizable charts, view up to 100 simultaneously
MetaTrader is available in 10+ languages.
How To Place A Trade
- Use the Market Watch window in the left to choose an asset, such as the EUR/AUD
- Click on ‘New Order’ in the menu at the top
- Enter the volume in lots
- Input any stop loss or take profit levels
- Choose the order type – instant or pending order
- Fill in the remaining parameters
- Click on ‘Place’ or ‘Buy’ or ‘Sell’
Assets & Markets
xChief offers trading opportunities in over 100 assets which is comparable to many alternatives. With that said, the top brokers offer a wider range of instruments and more options within asset classes.
- Metals: speculate on silver and gold prices
- Commodities: Crude oil and natural gas energies
- Forex: 40+ major, minor and exotic currency pairs
- Indices: trade global indices including FTSE 100, DAX 40, Nasdaq and S&P 500
- Cryptocurrencies: 5 popular digital currency/USD pairs including Bitcoin, Ethereum and Litecoin
- Stocks: trade shares in some of the world’s top companies including Amazon, Apple, Microsoft and eBay
Note, access to assets varies by account type.
xChief Fees
All account types offer floating spreads, with Direct accounts from 0 pips and Classic+ accounts from 0.3 pips, respectively. While using ForexChief, we were provided with spreads of 0.9 pips on major forex pairs, such as the EUR/USD, which is competitive.
Commissions also apply to the majority of account types. Stocks and cryptos, for example, typically come with a 0.1% charge. A full breakdown can be found in the account types section below.
Leverage
xChief leverage varies by account type, with rates up to 1:1,000. The broker is not regulated by a European Union authority so it does not comply with the ESMA leverage capping.
Our xChief review found leverage rates and margin requirements vary between trading instruments and account currencies, with position volume a key metric. These are:
- CFD Commodities: position volume of $0-$50,000, 1:50 maximum leverage, 2% floating margin. Position volume of more than $100,000, 1:10 maximum leverage, 10% floating margin
- Major Forex Pairs: position volume $0-$500,000, 1:1000 maximum leverage and 0.1% floating margin. Position volume of more than $10,000,000, 1:25 maximum leverage and 4% floating margin
- Minor Forex Pairs: position volume $0-$200,000, 1:1000 maximum leverage and 0.1% floating margin. Position volume of more than $7,000,000, 1:25 maximum leverage and 4% floating margin
Mobile Apps
MetaTrader 4 and MetaTrader 5 are both available as mobile applications. The apps are free to download and are compatible with iOS and Android (APK) devices.
Access the full trading features of the desktop platform, including analytical tools and customizable charts and graphs, while on the go from a portable device.
Payment Methods
Deposits
xChief does not charge a fee for deposit payments, except for some electronic solutions. Third-party bank charges or exchange fees may apply.
Minimum deposit requirements are $10 or equivalent currency under all account types. This is a good news for beginners who can get started with a limited bankroll. Base currencies vary between accounts but include USD, EUR, CHF, GBP and JPY.
Funding methods vary by local jurisdiction and include:
- Bank Wire Transfer: 1-2 business day processing
- Debit/Credit Cards & UnionPay: instant processing
- Electronic Payments: Skrill, Neteller, WebMoney (0.8% fee) and Perfect Money (1.99% fee)
- Cryptocurrency: 8 digital currency coins including BTC and ETH. Processing after 3 confirmations completed
- Local Transfer Solutions: includes Malaysia online banking and Mexico local solutions, instant transfer time
How To Make A Deposit
- Sign into the client portal
- Click on ‘Deposit and Withdrawal’ from the menu on the side
- Select ‘Deposit Funds’
- Pick a payment method from the list of options
- Choose the currency and deposit value
- Select your trading account from the menu
- Press ‘Continue’ and confirm the payment by selecting ‘Submit’
Withdrawals
Withdrawals must be made back to the original payment method. Fees and processing times vary between methods:
- Cryptocurrency: 1 day processing time, no charge
- Bank Wire Transfer: 2 business day processing, no fee
- Local Transfer Solutions: 2-7 business day processing, no charges
- Credit/Debit Cards: 2-7 day processing time, minimum 2% commission, and $5 fee
- Electronic Payments: Skrill (1 day processing, 1% charge), Neteller (1 business day transfer, 1.9% commission and $1 fee), WebMoney (0.8% commission), Perfect Money (0.5% commission)
Note, personal detail verification is required for credit/debit cards and bank transfer methods.
Demo Account Review
xChief offers a demo account available on the MT4 and MT5 platforms. These accounts are a good way to practise trading, navigate platform features and test strategies risk-free. Specific details including virtual funds and length of availability are not specified.
A simple online registration form is required to open a paper trading account.
Deals & Promotions
xChief offers various bonus and incentive programmes. This include welcome deposit ($500) and no deposit bonus ($100) deals, depending on the trader’s location. Importantly though, the bonus is normally available for trading purposes only and may not be withdrawn until after certain conditions have been met. Check terms and conditions before opting in.
Trading credits are also available with XChief. These are termless and interest-free credits to be used as equity for forex trades. Clients may receive trading credit for each deposit made to a live account, for up to 70% of the initial funding.
In addition, the broker is known to run deals with free access to VPS services, souvenirs, brand merchandise, plus account and trading support. Head to the ‘Promotions and Bonuses’ tab when you sign up to see what is available.
Regulation & Licensing
xChief Ltd is licensed by the Australian Securities and Investments Commission (ASIC) under registration number 001312104, and by the Mwali International Services Authority under registration number HY00923433, as an international brokerage and clearing house.
Traders should not that this regulation with ASIC is comparable to protection offered by bodies like the FCA, and is very robust.
The broker also complies with client fund segregation and protection against technical faults.
Additional Features
It was pleasing to see some analytical tools available on xChief’s website. The brokerage hosts a library of trading content, including investment articles with the latest tips, forex trading strategies, guides on how to use technical indicators and a full schedule of trading sessions by stock exchange.
The analytics posts include live currency charts, economic calculators and the latest interest rate charges by country. All analytics tools can be accessed without needing to open a trading account. On the downside, some of the content is out of date and needs updating.
One useful tool for aspiring investors is copy trading, which is available through signals integrated on the MetaTrader platform. Successful traders can also sell their signals to generate additional income.
In addition, the broker publishes details of changes to interest rates across key regions. This is available for free on the ForexChief website.
Account Types
xChief broker offers various trading account types including; Direct, Classic and Cent. Minimum deposit requirements across all accounts are $10 or equivalent currency.
Base currencies vary between accounts but include USD, EUR, CHF, GBP and JPY.
MetaTrader 4
All MT4 accounts access market execution orders, hedging and scalping, 30% stop out call, 0.01 lots minimum order size, maximum leverage of 1:1,000 and access to expert advisors (EAs).
MT4 Direct FX and MT4 Classic+
- 150+ available contracts
- Swap-free account available
- Floating spreads from 0 pips
- Maximum order size of 100 lots
- MT4 Classic+ Commissions: CFD indices free, stocks CFDs 0.1%, crypto CFDs 0.10%
- Direct FX Commissions: CFD indices $15 per Mio, stocks CFDs 0.1%, crypto CFDs 0.10%
Cent MT4 Direct FX
- 40+ available contracts
- Floating spreads from 0 pips
- Maximum order size of 100 lots
- Commissions: FX spot and metals CFDs, $15 per Mio
Cent MT4 Classic+
- 40+ available contracts
- Floating spreads from 0.3 pips
- Maximum order size of 100 lots
- Commissions: FX spot and metals CFD, free
PAMM versions of the DirectFX and Classic+ accounts are also available on xChief. These match the conditions of their standard counterparts, except base currencies are limited to USD and EUR and there are no trading credits, turnover rebates, welcome bonuses or swap-free solutions.
MetaTrader 5
All accounts access market execution orders, hedging or netting, 30% stop out call, 0.01 lots minimum order size, maximum leverage of 1:400 and maximum order size of 100 lots.
MT5 Direct FX
- 60+ available contracts
- Floating spread from 0 pips
- Swap-free account available
- Commissions- $15 per 1 mio
MT5 Classic+
- No commissions
- 60+ available contracts
- Swap-free account available
- Floating spread from 0.3 pips
Cent MT5 Direct FX
- 42 available contracts
- Commissions: $15 per 1 mio
- Floating spreads from 0 pips
Cent MT5 Classic+
- 42 available contracts
- Commissions: $15 per 1 mio
- Floating spreads from 0.3 pips
How To Open An xChief Account
It is quick to open a real account. Customers must complete a simple online registration form. You may be required to provide identification verification documents such as proof of residency under the know-your-customer (KYC) compliance.
It was good to see that xChief also offers an Islamic, swap-free trading account.
Trading Hours
The brokerage follows standard office hours and 24-hour trading hours Monday-Friday, though these timings may vary by instrument.
Customer Support
xChief offers on-hand, multilingual customer support available 24/7:
- Live chat: icon in the bottom right-hand corner of each webpage
- Telephone:+65 3159 3652 (Singapore) or +234 903 079 5364 (Nigeria)
- Email: info@forexchief.com
Working times vary for the international helpdesk. Telephone customer support is provided in English, Arabic, Spanish, French, Italian, Portuguese, Hindi, Russian and Chinese.
There is also a comprehensive FAQ section on the broker’s website.
Safety & Security
Personal area and portal access are password protected. Unusually, bonus payments can be gained before personal identification documents are submitted.
Secure login protection is supported for the MT4 and MT5 platforms with high-tech encryptions and industry-standard data privacy.
However, be cautious of several user reviews reporting ForexChief scam concerns.
XChief Verdict
xChief provides competitive trading opportunities for customers of different abilities and experience levels on the established MT4 and MT5 platforms. The trading conditions and pricing structure is competitive, with tight spreads and low commissions.
Moreover, the range of markets accessible is decent, PAMM accounts are supported and high leverage rates are available. However, the conditions for the financial incentives xChief offers are very high. The rebranding from ForexChief has resulted in further regulatory progress, with the firm now operating under the ASIC regulatory regime.
FAQs
Is ForexChief (xChief) Legit Or A Scam?
xChief (formerly ForexChief) is a regulated brokerage firm with oversight from ASIC in Australia.
Does xChief Offer A Demo Account?
Yes, xChief offers a demo account that can be used on the MT4 and MT5 platforms. Prospective investors can sign up for a paper trading account on the official website in a few minutes.
What Trading Platforms Does xChief Offer?
xChief offers two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both terminals have advanced trading tools and features, including access to EAs, dozens of technical indicators and customizable dashboards. MT4 and MT5 apps are also available on mobile devices.
What Is The xChief Minimum Deposit?
Minimum deposit requirements across all live trading accounts with xChief are $10 or equivalent. Base currencies vary between accounts but include USD, EUR, CHF, GBP and JPY. This makes the broker accessible for beginners.
Is xChief Trustworthy?
xChief Ltd is licensed by the Australian Securities and Investments Commission (ASIC) under registration number 001312104, and by the Mwali International Services Authority under registration number HY00923433, as an international brokerage and clearing house. This provides more reassurance for customers.
Best Alternatives to xChief
Compare xChief with the best similar brokers that accept traders from your location.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- FOREX.com – Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
xChief Comparison Table
| xChief | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Rating | 3.9 | 4.3 | 4.5 |
| Markets | CFDs, Forex, Metals, Commodities, Stocks, Indices | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Forex, Futures and Options on Metals, Energies, Commodities, Indices, Bonds, Crypto |
| Demo Account | Yes | Yes | Yes |
| Minimum Deposit | $10 | $0 | $100 |
| Minimum Trade | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | ASIC | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | NFA, CFTC |
| Bonus | $100 No Deposit Bonus | – | VIP status with up to 10k+ in rebates – T&Cs apply. |
| Platforms | MT4, MT5 | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | WebTrader, Mobile, MT4, MT5, TradingView |
| Leverage | 1:1000 | 1:50 | 1:50 |
| Payment Methods | 12 | 6 | 9 |
| Visit | Visit | Visit | Visit |
| Review | – | Interactive Brokers Review |
FOREX.com Review |
Compare Trading Instruments
Compare the markets and instruments offered by xChief and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| xChief | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| CFD | Yes | Yes | No |
| Forex | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes |
| Oil | Yes | No | Yes |
| Gold | Yes | Yes | Yes |
| Copper | No | No | No |
| Silver | Yes | No | Yes |
| Corn | No | No | No |
| Crypto | Yes | Yes | No |
| Futures | No | Yes | Yes |
| Options | No | Yes | Yes |
| ETFs | No | Yes | No |
| Bonds | No | Yes | No |
| Warrants | No | Yes | No |
| Spreadbetting | No | No | No |
| Volatility Index | No | No | No |
xChief vs Other Brokers
Compare xChief with any other broker by selecting the other broker below.
Customer Reviews
4.6 / 5This average customer rating is based on 11 xChief customer reviews submitted by our visitors.
If you have traded with xChief we would really like to know about your experience - please submit your own review. Thank you.
Hey everyone! Just wanted to share that I made my first withdrawal today. It was processed in no time, and I couldn’t be happier with how efficient it was. Really impressed with this company!