ForexChief Ltd. (Company Number №14777) is licensed by the Vanuatu Financial Services Commission as a Dealer in Securities (Principal’s License) pursuant to Section 4, subsection (1) (a) of The Dealers in Securities (Licensing) Act [CAP. 70] as amended. The basic concept of the project is creation of a unique platform for online trading in currency contracts and precious metals on conditions of Margin Trading. The foundation of the project’s technological infrastructure is built on the STP/NDD model avoiding not only a conflict of interest between the company and the client, but also, in general, increasing service quality by means of narrow spreads and high speed trading order execution.
As the basic platform, ForexChief offers MetaTrader 4/5 – the most popular trading platform for forex trading. Separately, institutional clients who offer broker services should pay attention to the STP-gate integrated into MetaTrader 4/5 that can connect liquidity through a regular trading account on MetaTrader 4/5 platform with minimum labor input.
The Company pays special attention to the technical stability of the trading servers and software that is provided to the client for trading operations. The technologies developed for liquidity aggregation as well as the system of their administration is based on cluster solutions, where a high level of reliability under abnormal loads can be maintained (especially where there is a large number of client orders coming to the trading server when economic news has been published).
The line of ForexChief account types has “cent” accounts (cent-MT4.DirectFX, cent-MT4.Classic+, cent-MT5.DirectFX and cent-MT5.Classic+), whose balance exceeds that of standard accounts hundredfold. This way, for instance, if a trader refills a cent account with USD 100, and that transfer is successfully completed, the amount of 10,000 (i.e. 100 times more) will be credited to the account, since USD cents is the account currency in this case. “Cent” accounts are an indispensable tool, both for beginners, whose experience does not allow them to invest significant capital, and for professionals, whose goals are fine tuning and testing trading robots in real market conditions. Also, this type of account provides an opportunity to have comprehensive testing in dealing with the company, and not risking a large deposit.
It is important to note that only client orders with the size from 1,000 units of the base currency, which corresponds to 0.01 of a lot on MT4.DirectFX, MT4.Classic+, MT5.DirectFX and MT5.Classic+ accounts, will be transmitted to counterparties. This way, for all orders whose size is below 1,000 units of the base currency, the Company acts as a dealer (the “second party” of the transaction).
Broker Logo |  |
BROKER INFORMATION
Broker Type | STP/NDD |
Company | ForexChief Ltd. |
Foundation | 2014 |
Country | Vanuatu |
Regulation | Registration number: 14777 License: Dealer in Securities (Principal’s License) issued by VFSC ForexChief Ltd. is a member of Financial Markets Association. Go to FMA. |
Minimum Initial Deposit | $10 |
Account Base Currencies | USD, CHF, GBP, EUR, JPY |
Account Deposit Methods | Bank Wire Transfer, Local Transfer Solutions, Credit / Debit cards, Electronic Payments (Crypto, Skrill, NETELLER, Advanced Cash, Perfect Money, FasaPay) |
Account Withdrawal Methods | Bank Wire Transfer, Local Transfer Solutions, Credit / Debit cards, Electronic Payments (Crypto, Skrill, NETELLER, Advanced Cash, Perfect Money, FasaPay) |
Live Chat | Yes |
| Vanuatu: – General questions: info@forexchief.com – Marketing department: marketing@forexchief.com – Partnership: partnership@forexchief.com Singapore: asia@forexchief.com Nigeria: nigeria@forexchief.com | |
Call | Singapore: +65 3159 3652 Nigeria: +234 903 079 5364 |
ADVANTAGES
Free Demo Account | Yes |
Spreads | Floating From 0.0 Pips |
Execution Type | Market Execution |
Introducing Brokers Program/Affiliate Program | Yes |
Promotions | Yes |
Swap Free | Yes (Islamic) |
Copy Trading | Yes |
MAM | |
Trading Platforms | MetaTrader 4, MetaTrader 5 |
Scalping | Yes |
Hedging | Yes |
Expert Advisors | Yes |
Products | Currency Pairs (Majors, Minors, and Exotics), Precious Metals (Gold and Silver), Energies (Crude oil and gas, including WTI and Brent), Stock indexes (10 leading stock indices), Cryptocurrencies (Bitcoin, Bitcoin Cash, Litecoin, Etherium, and Ripple), Stocks |
DISADVANTAGES
Restrictions | The website is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law. |
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