ForexChief vs XM

ForexChief vs XM Comparison Table 2023
ForexChief XM
3.3

ForexChief is #5 in our CFD broker rankings.

4.4
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

ForexChief is a foreign exchange and CFD broker with offshore regulation and access to both MT4 and MT5 trading platforms.

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted CySEC-regulated broker has been well-known for its low spreads and competitive fees on 1000+ instruments. XM offers both the MT4 and MT5 platforms.

Bonus Offer
$100 No Deposit Bonus Free VPN Services
Promotions

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Comment by Reviewer
"XM will suit traders looking for a trustworthy broker with low fees, access to the reliable MetaTrader platforms, plus excellent market research and education."
Pros
  • Full range of investments
  • Low minimum deposit
  • MT4 integration
  • Copy trading
  • Beginner-friendly education tools including podcasts and expert-led webinars in 9 languages
  • Premium research including market sentiment, fundamental insights and strategy builders
  • Accessible trading accounts with a $5 minimum deposit and easy account opening
  • Powerful MT4 and MT5 platforms available via web, desktop or mobile
  • Reliable 24/5 customer support in over 25 languages
  • Hugely respected brand with 30+ industry awards
  • Transparent fees with spreads from 0.0 pips
  • 1000+ instruments including 50+ forex pairs
Cons
  • Weak regulatory oversight
  • $5 inactivity fee
  • Traders from the US not accepted
Awards
  • The Best Crypto CFDs 2022 - Financial Expo Egypt
  • Best FX Service Provider 2022 - City of London Wealth Management Awards
  • Best MT4/MT5 Broker 2021 - DayTrading.com
  • Best FX Educational Broker in the MENA region 2021 - Dubai Expo Awards
  • Best Trading Experience 2021 - Ultimate Fintech
  • Best FX Service Provider 2021 - City of London Wealth Management Awards
  • Best Broker in Customer Service 2020 - FX168
  • Best Customer Service Experience 2020 – Global Business Awards
  • Global Forex Broker of the Year 2020 - Global Forex Awards
  • Best FX Service Provider for 2020 - City of London Wealth Management Awards
Instruments
CFDs, Forex, Metals, Commodities, Stocks, Indices Forex CFDs, Commodity CFDs, Equity Indices CFDs, Precious Metals CFDs, Energy CFDs, Stocks
Demo Account
Yes Yes
Minimum Deposit
$10 $5
Payment Methods
Multiple local payment methods available
Minimum Trade
0.01 lots 0.01 Lots
Regulator
VFSC IFSC, DFSA, CySEC, ASIC, FCA, BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM, FI
Margin Trading
Yes Yes
Margin Rate
0.1%
MetaTrader 4
Yes Yes
MetaTrader 5
Yes Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
Yes No
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 Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS, Android & Windows
Auto Trading
EAs Yes (EAs)
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. XM offers over copy trading on MT4 and MT5. Integrated signals can be used to inform trades, including buy and sell decisions and entry and exit points.
Social Trading
No No
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • JPY
  • CHF
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • CHF
  • PLN
Stock Exchanges
Commodities
CFD Trading
ForexChief offers a competitive range of CFDs, encompassing crypto, indices, energies and metals. Speculate on rising and falling prices with leveraged CFDs spanning popular financial markets. Users get low spreads and high-quality market insights to support CFD trading.
Leverage
1:1000 1:500
FTSE Spread
70 1.5 pts (var)
GBPUSD Spread
0.9 2.1 (var)
Oil Spread
12 0.05 (var)
Stocks Spread
50 0.1% (var)
Forex Trading
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs on both MT4 and MT5. XM offers ultra low spreads across a range of forex markets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors.
Forex App

XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MetaTrader 4 and MetaTrader 5 platforms in your hand, with full forex trading and charting capabilities. Try it out today.

GBPUSD Spread
0.9 2.1 pips (var)
EURUSD Spread
0.4 1.6 pips (var)
EURGBP Spread
0.9 2 pips (var)
Assets
40 55+
Currency Indices
  • USD
Cryptocurrency
ForexChief supports crypto CFD trading with five major digital currencies paired against the US dollar. Crypto trading not offered
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
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