FxPro vs ForexChief

FxPro vs ForexChief Comparison Table 2024
FxPro ForexChief
4.4
3.3

Founded in 2006, FxPro is an established forex, CFD and spread betting broker offering 2100+ assets to over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers reliable 24/5 customer support, earning it a high trust and safety score. FxPro has also picked up more than 100 industry accolades for its competitive trading conditions, including fast execution and deep liquidity.

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.

Customer Reviews
4.5
Bonus Offer
$100 No Deposit Bonus
Comment by Reviewer
"FxPro is best for experienced traders looking for wide market access, premium research tools and advanced charting platforms. The competitive fees and fast execution will serve serious short-term traders, whilst the BnkPro investment service will appeal to those looking for long-term e-money solutions." "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."
Pros
  • FxPro maintains its position as a top no dealing desk (NDD) broker, with fast execution speeds under 13ms and co-located trading servers with Tier 1 banks
  • There are 4 superior day trading platforms, including a proprietary solution with over 50 indicators, 7 chart types and an impressive 15 chart time frames
  • Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting
  • Thousands of CFDs are available across 6 asset classes with a particularly impressive range of indices and precious metals
  • There's an interactive learning center for beginners with tests, courses, video tutorials and webinars
  • The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts
  • The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses
  • ForexChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
  • ForexChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
  • 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
  • FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
  • The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
  • There are only a handful of payment methods available, compared to the 10+ offered at top competitors like AvaTrade
  • There's no copy trading service, which reduces the appeal for strategy providers looking to earn extra revenue
  • The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
  • ForexChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
  • The total range of 150+ assets is much lower than most competitors who typically offer hundreds
  • The broker trails competitors when it comes to research tools and educational resources
Awards
  • BEST BROKER 2021 (UK), Ultimate Fintech Awards
  • BEST FX PROVIDER 2021, Online Personal Wealth Awards
  • BEST TRADING PLATFORM 2020, Investors Chronicle & Financial Times
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Futures CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account
Yes Yes
Minimum Deposit
$100 $10
Trading Platforms
  • FxPro Platform
  • MT4
  • MT5
  • cTrader
  • AutoChartist
  • TradingCentral
  • DupliTrade
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, CySEC, FSCA, SCB, FSC VFSC
Margin Trading
Yes Yes
Margin Rate
0.5% 0.1%
STP Account
Yes Yes
ECN Account
No No
DMA Account
No No
MAM Account
Yes No
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
App Review

FxPro offers forex trading on 70+ pairs via its mobile app. A range of technical indicators and order types are available and hedging is supported. Download the app for free from the iOS and Android app stores.

Android App Rating
4.3
iOS App Rating
4.7
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No 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.
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
Yes No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • ZAR
  • CHF
  • PLN
  • USD
  • EUR
  • GBP
  • JPY
  • CHF
Stock Exchanges
Commodities
CFD Trading
FxPro offers thousands of CFDs on forex, commodities, indices, shares and futures. The broker's analysis and charting capabilities continue to stand as some of the best in the industry, with Trading Central integration, advanced order types and access to custom indicators. 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.
Leverage
1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) 1:1000
FTSE Spread
1.58 Pts (Ave) 70
GBPUSD Spread
2.39 Pips (Ave) 0.9
Oil Spread
0.07 (WTI Ave) 12
Stocks Spread
Variable 50
Forex Trading
FxPro offers 70+ currency pairs with ultra-fast execution speeds and tight spreads from 0.46 pips on EUR/USD. The range of forex assets outranks many rivals, including our award winner, AvaTrade. Various short-term forex strategies are permitted, including EA trading and hedging. 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.
Forex App

FxPro offers forex trading on 70+ pairs via its mobile app. A range of technical indicators and order types are available and hedging is supported. Download the app for free from the iOS and Android app stores.

GBPUSD Spread
2.39 pips (Ave) 0.9
EURUSD Spread
1.58 pips (Ave) 0.4
EURGBP Spread
1.74 pips (Ave) 0.9
Assets
70+ 40
Currency Indices
  • USD
Cryptocurrency
Non-UK FxPro traders can access CFDs on 28 popular cryptocurrencies, including Bitcoin and Ethereum as well as smaller tokens like Tron. Algo traders can also make use of trading bots and custom indicators within the third-party platforms. 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.
Spread
Variable Variable
Coins
  • BAT
  • BCH
  • BTC
  • DOG
  • DOT
  • DSH
  • EOS
  • ETC
  • ETH
  • IOT
  • LNK
  • LTC
  • NEO
  • XLM
  • XMR
  • XRP
  • ZEC
  • 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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