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xChief -

Score

2.32 /10
Danger

xChief

Comoros

5-10 years

Suspicious Regulatory License

High potential risk

https://www.xchief.com

Benchmark

D

Influence

B

Add brokers

Comparison

Quantity 5

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.48

Risk Management Index0.00

Software Index9.01

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

xChief Ltd

Company Abbreviation

xChief

Platform registered country and region

Comoros

Company website

X

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Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-10
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

xChief · Benchmark
Average transaction speed(ms)
1010.8 Poor
The highest transaction speed(ms)
94 Great
The highest speed of opening positions(ms)
94 Great
The highest speed of closing position(ms)
328
The lowest speed of opening positions(ms)
1890
The lowest speed of closing position(ms)
1969
Ranking： 125 / 128
Test user 397
Transactions 2,216
Ocuppied margin $3,017,641 USD
Data Source WikiFX Data provide
Updated: 2024-11-08 01:11:00

Exposure

5 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Withdrawal failure.

A client has his account blocked after he requested withdrawal of a petty amount.

Mayaz Ahmad
2021-07-30 16:54
Scam

The money in my account has been reset

I had 415 USD in my account, suddenly my account was reset. It is not reliable, do not deposit money.

ergil27
2023-09-21 12:06
Severe Slippage

High slippage.

A client has reported that this broker charge high slippage on orders which is expected to bring profits for the clients.

Mayaz Ahmad
2021-08-09 16:38
Others

Slow withdrawal process

The withdrawal process is slow and the balance is becoming less. The fund hasn’t been credited to my account, albeit successful process.

FX2620371122
2020-08-17 14:05
Unable to Withdraw

Unable to withdraw funds

After I used a bonus without deposit, which is a unable-to-withdraw bonus, my profits increased by more than $256. The next day, the account returned to $100. I contacted to them, but they denied it. I demanded my profits which fulfilled the condition of this bonus, and I did not get benefit from anything.

blueink
2023-08-25 16:27
Sources
Data Source WikiFX Data provide
Updated: 2024-11-10
xChief · Company summary
xChiefReview Summary
Founded2014
Registered Country/RegionComoros
RegulationMISA (Offshore)
Market InstrumentsForex, Metals, Commodities, Indexes, Stocks, Cryptos
Demo Account✅
LeverageUp to 1:1000
SpreadFrom 0 pips
Trading PlatformMT4, MT5, xChief App
Min Deposit0
Customer SupportLive chat, phone, email

xChief Information

xChief (formerly ForexChief) is an online Forex and CFD trading broker that offers multiple assets for trading online via the MetaTrader4/5 platforms. Founded in 2014, its head office is in Vanuatu while other representative offices are in Singapore and Nigeria. xChief Ltd is incorporated in the Republic of Comoros.

xChief's homepage

Is xChief Legit?

xChief Ltd is a retail forex broker offshore regulated by the Mwali International Services Authority (MISA) in Comoros with the license number T2023379. Besides, xChief prioritizies the safety of client funds. If there are any losses caused by technical faults, xChief will compensate for them. It also protects clients' funds by segregating them into separate bank accounts.

Offshore regulated by MISA

Pros & Cons

xChief has several pros and cons. It offers various trading instruments, multiple account types, and user-friendly trading platforms. Besides, it also highlights the safety of client funds, and manages to protect them. What's more, it is well regulated, and it is a mature broker. However, some reports have been exposed, which says that xChief has slippage.

ProsCons
Various trading instrumentsWithdrawal issues and slippage
Tight spreadsOffshore regulated
Demo accounts
MT4/5 supported
No minimum deposit requirement
Live chat

Accounts

xChief offers 4 types of trading accounts: CENT account, Classic+ account, DirectFX account, and xPRIME account. Demo accounts are also available for traders.

Account TypeAccount CurencyMinimum DepositNo-Deposit Bonus $100Welcome Bonus $500
CENTUSD, EUR0❌❌
Classic+USD, EUR, GBP$10 (or equivalent)✔✔
DirectFXUSD, EUR, GBP$50 (or equivalent)✔✔
xPRIMEUSD, EUR, GBP, CHF, JPY$2000 (or equivalent)❌✔

Leverage/Spreads & Commissions

The leverage is relatively high, and for some types of accounts, it can be up to 1:1000, which means risks may also be high.

Account TypeMax LeverageSpreadsCommissions
CENT1:500From 0.9 pips❌
Classic+1:1000From 0.6 pips❌
DirectFX1:1000From 0.3 pips$/€/£2.5
xPRIME1:1000From 0 pips$/€/£/₣3/¥500

Trading Platforms

Trading PlatformAvailable Devices Suitable for
MetaTrader5Desktop, iOS, Android, MacOS, WebBeginners
MetaTrader4Desktop, iOS, Android, MacOS, WebSkilled and professional traders
xChief Mobile AppMobileAll types of traders
Trading Platforms

Deposits & Withdrawals

TxChief supports different kinds of deposit and withdrawal methods. Take the UK for example.

Deposit MethodsFeesTimeCurrency
SWIFT0%Up to 5 daysEUR, GBP
Crypto0%Up to 8 hoursBTC, ETH, LTC, XRP, USDT, USDC
Perfect Money1.99%InstantlyUSD, EUR
Withdrawal M ethodsFeesTimeCurrency
SWIFT1%, min.€50/£50Up to 5 business daysEUR, GBP
SEPA€25Up to 3 business daysEUR
Debit/Credit Card2%, min.$5/€5Up to 7 business daysUSD, EUR
Crypto0%1 business dayBTC, ETH, LTC, XRP, USDT, USDC
Perfect Money0.5%1 business dayUSD, EUR

Customer Service

xChief provides customer services to its clients, and it has unique contact options in the headquarter as well as representative offices.

Vanuatu Contact Info
Phone +65 31593652
Email info@xchief.com
marketing@xchief.com
partnership@xchief.com
Support Ticket System ✔
Online Chat 24/7
Website Language English
Company Address 1st Floor, CNM Building, Port Vila, Vanuatu
Singapore Contact Info
Phone +65 31593652
Email asia@xchief.com
Support Ticket System ✔
Online Chat 24/7
Website Language English
Company Address 2 Venture Dr, #24-01 Vision Exchange, Singapore, 608526
Nigeria Contact Info
Contact Options Details
Phone +234 9030795364
Email nigeria@xchief.com
Support Ticket System ✔
Online Chat 24/7
Website Language English
Company Address Suite 319 Rock of Ages Mall Jabi, Abuja, Nigeria

FAQs

Is xChief regulated?

Yes, it is regulated by the MISA.

Does xChief offer demo accounts?

Yes.

What trading platforms does xChief have?

It supports MT4, MT5, and xChief APP.

What is the minimum deposit for xChief?

The minimum deposit is 0.

News

News WikiFX Broker Assessment Series | Is xChief Legit or a scam?

xChief (formerly known as Forex Chief) is a forex broker located in Mwali, regulated by Reg.number HY00923433 the Mwali International Services Authority (MISA). xChief, It was founded in 2014.

WikiFX
2024-03-18 19:09
WikiFX Broker Assessment Series | Is xChief Legit or a scam?

NewsChanges to the trading schedule on November 23-24, 2023

Forexcheif broker wishes to inform traders that trading schedule alterations will be implemented on November 23-24, 2023, in observance of the Thanksgiving holiday in the United States. The broker is therefore requesting their users to kindly take this information into account while conducting your transactions.

WikiFX
2023-11-27 14:10
Changes to the trading schedule on November 23-24, 2023

NewsWikiFX report: Ex-Japan Forex Chief Sees Kuroda Standing Firm Despite Weak Yen

Bank of Japan Governor Haruhiko Kuroda won’t change his ultra-low interest rate policy in the coming quarters, even though he’ll come under political pressure to do so over the weak yen, according to one of the country’s former chief currency officials.

WikiFX
2022-04-19 15:51
WikiFX report: Ex-Japan Forex Chief Sees Kuroda Standing Firm Despite Weak Yen

News30+ Reasons to Choose ForexChief

ForexChief have been providing services for 7 years! ForexChief started its activity in 2014 and is a well-known brand now.

WikiFX
2021-12-15 18:31
30+ Reasons to Choose ForexChief
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User Reviews

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User comment

31

Comments

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FX3833261503
0-3months
Trading with this broker has been a smooth experience so far. Spreads are decent, and withdrawals are processed without delays. The platform works well, though I wish there were more tools for analysis. Overall, it’s a good choice for those looking for straightforward trading.
Trading with this broker has been a smooth experience so far. Spreads are decent, and withdrawals are processed without delays. The platform works well, though I wish there were more tools for analysis. Overall, it’s a good choice for those looking for straightforward trading.
Translate to English
2024-10-16 19:40
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0
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Germer
more than one year
xChief, now that's a platform with some serious market instruments! And when it comes to customer support, they're on it like white on rice. Quick, friendly, and always there to help. Give them a try, you won't regret it!
xChief, now that's a platform with some serious market instruments! And when it comes to customer support, they're on it like white on rice. Quick, friendly, and always there to help. Give them a try, you won't regret it!
Translate to English
2024-07-23 17:25
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0
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5