Forex Chief reviews and broker review

Forex Chief is a brokerage company that operates with an appropriate license. She has quite a few clients in different countries of the world, but most of all, in Russia. It has many advantages over other similar organizations.

In this article, we will consider the ForexChief website, the company's offers, as well as reviews of real clients about working with it.

Brief information about ForexChief broker

Before starting to study the offers of the ForexChief broker and consider customer reviews about them, let's see what information the company provides about itself:

• This is a universal platform for online trading;
• ForexChief provides 4 different accounts that will appeal to both professional traders and beginners in this business;
• Guaranteed fast execution of orders;
• Stable operation of the service and software;
• Convenient trading platforms that are easy to understand;
• High level of security of customer funds;
• There are many tools through which users can earn income.

These are all beautiful words, but is everything really good with ForexChief? Let's consider in more detail further.

Registration on the official website of ForexChief

As they say in the reviews, registering on the ForexChief website is quite simple. Indeed, registration takes only a few minutes. You must fill out a form in which you must specify the following:

• First and last name;
• Citizenship;
• Phone number with country code;
• E-mail address.

Next, you just need to agree to the client agreement. After filling out the form, a verification code will be sent to your email. In case of successful confirmation, the company will send data to enter your personal account.

Indeed, registration, as mentioned in the reviews, takes a matter of minutes.

Trading conditions for a trader + tools

We studied the company's website and decided to briefly list the conditions with which the broker offers users to trade on their exchange:

• Trading platforms - MT4, MT5 and mobile application;
• The minimum deposit is $50;
• Leverage - 1 to 1000 for MT4 and 1 to 400 for MT5;
• Affiliate programs - yes;
• Investment program - yes;
• Bonuses - yes;
• Spread - from 0 points;
• Currencies - 6 different currencies, including the ruble.

In addition, ForexChief offers its clients a wide range of trading tools. We list some of them:

• Forex;
• Metals;
• CFDs
• Indexes.

In the reviews they write that they largely agreed to cooperate with this company due to a wide selection of instruments and adequate spreads, compared to many other companies.

Next, we will take a closer look at the offers of the broker and figure out whether to trust him with your financial resources.

Account types on the ForexChief website

ForexChief has 4 account options. There are 6 currencies they work with - USD, EUR, JPY, CHF, GBP and RUB. Regardless of which account is selected, the minimum deposit is the same everywhere and amounts to $50 or the equivalent of this amount in the selected currency.

On the MT4 trading platform, the maximum leverage is 1:1000, in addition, there is access to trading credits. For MT5, the maximum leverage is 1:400, no other bonuses are provided.

Let's take a closer look at the accounts of the Forex Chief brokerage company:

• DirectFX. There is a $15 commission for $1 million. Spread from 0 pips. The maximum order volume is 100 lots. The volume of placed orders is 500 pieces.
• Classic+. This account is identical to the previous one, but there are several differences. There is no commission and the spread is 0.3 pips.
• Cent.DirectFX. The maximum volume of open lots is 1000 pieces, the volume of an order is 100 lots. The rest is the same as the first, only a cent.
• Cent.DirectFX+. Cent analogue of the Classic+ account.

In addition to real accounts, the ForexChief broker has a training account where you can study the MetaTrader 4 and MetaTrader 5 platforms. It is quite convenient and I will create it specifically for beginners who are just starting to trade. Thanks to a demo account, users are given the opportunity to try their hand at trading, try to trade without risking money.

In the reviews, the company's clients speak well of the practice account. They note that it is really convenient and you can really learn to do something on it. According to users, you can understand that they only have problems after opening a real account. The reviews note that Forex Chief advises opening a cent account because, as they say, it is easier to learn and requires less risk.

Company affiliate program

The ForexChief broker has several options for making a profit through affiliate programs. Let's consider them in more detail:

• white label. This affiliate program is aimed at young companies that have just begun to conquer the market. A minimum of financial investments is required, since funds for license expenses are saved.
• Introducing Broker. This program is aimed at those who are ready to attract new clients to a brokerage company. ForexChief pays under such a program in two installments. The first is for the client himself, the second is for the turnover that the client brought to the company.

The reviews note that the second program is very similar to financial pyramids, because it is built just on making a profit by attracting customers. Some in the reviews wrote exactly that they came to the broker thanks to an offer from people who wrote to them on the social network. They touted the company just to get such a passive income, and they themselves never even closed a deal.

Forex Chief investment programs

ForexChief provides its clients with the opportunity not only to earn by trading manually, but also by investing in social trading. The company offers one way through which you can receive passive income. Namely, thanks to the auto-copy service MetaQuotes.

Copying transactions on the Forex Chief website is a fairly popular area in this area. It brings income not only to the person who mirrors the transactions, but also to the one who conducted these transactions. This brings additional income to the trader.

The auto-copy service is available to every trader, there are no restrictions on this. And the profit comes for each copied trade.

The reviews note that the program can really be used by every person and this sometimes brings a small income, but only for experienced traders, for whom the service is designed.

Bonuses from broker Forex Chief

The website of the brokerage company provides several types of bonuses that many ForexChief clients can receive. Let's take a closer look at what this organization offers:

• Welcome bonus. This type of bonus is credited to the client's account one-time and amounts to $500. In order to receive it, you need to register, open a standard account, do not forget to check the box for enrollment. Next, you should complete the operation and see that the bonus is credited. After that, you need to complete the required turnover and withdraw the bonus along with the profit. This type of bonus is not available for cent accounts.
• Turnover bonuses. This type of bonus is accrued every week for completed user transactions. It is calculated automatically and credited to the trader's account at the end of each week. But it's pretty small. If you have made transactions in the amount of up to 1 million, then you are provided with a bonus of 3 dollars per million, from 1 million to 500 million - 7 dollars per million, more than 500 million - 10 dollars per million. This type of bonus is designed for traders who make a large turnover.
• Trade credits. This is a kind of analogue of a bonus for replenishing the balance. Its maximum amount is $ 20,000, it is charged without interest and indefinitely.

In the reviews, users write that they really get a welcome bonus. But getting it out is not as easy as we would like. Most often, bonus money is lost in the first transactions, which are advised by Forex Chief consultants. Therefore, it is simply impossible to withdraw them, as customers write in reviews.

Trading education

The ForexChief website has a special section called "Library" where you can find basic information on the topic of trading. The broker assures that it will help beginners learn new things and enable professionals to brush up on knowledge.

What information is presented on the ForexChief website:

• Articles about trading;
• The first steps of a trader for beginners;
• Schedule of trading sessions;
• Trading indicators;
• Details of trading strategies.

Also in this section, the broker advises not to immediately move from theory to practice, but first open a demo account and try to figure it out.

In addition, the broker assures that he has several analytical services on his website that will help a broker of any level to conduct trades better. Among them, they highlight the following:

• Economic articles and reviews;
• Interest rates;
• Trader's calculator;
• Quote chart.

Education is, of course, good, but it is not presented in full on the website of this broker. It will not be enough for a beginner to immediately start trading. Even a demonstrative account, as noted in the reviews, does not really help to understand all the subtleties.

The reviews note that all this information can be easily found on the Internet, but at the same time it will be more detailed and useful than on the Forex Chief website.

Security guarantee

The financial activities of ForexChief are regulated by the VFSC Financial Services Commission. Of the minuses in the reviews, they note that this regulator does not consider the claims of traders that relate to compensation for moral compensation. And it is sometimes very important, especially after talking with the support service, as they say in the reviews. But we will talk about it in more detail later.

As for the rest, the regulator acts in accordance with the regulations, which cannot but inspire the confidence of customers.

Withdrawal of funds from the company's website

The site has a rather detailed section on withdrawing funds from the Forex Chief account. For example, there are several options for replenishing the withdrawal of money. Among them:

• Bank transfer;
• Bank cards Visa, MasterCard;
• A large number of electronic wallets.

In the reviews they write that the money does not always come in the terms declared by the broker, if at all. What ForexChief promises:

• 2-7 working days takes a transfer to bank cards;
• 1 day takes a transfer to electronic wallets;
• Bank transfer takes 5 days.

Some reviewers are waiting for the translation for more than one month. This cannot but affect the opinion of people about the broker.

ForexChief Support

As we wrote above, many users in the reviews complain about the support service. But first, let's look at how the company offers to contact it:

• Email;
• Online chat;
• Messengers in social networks;
• Feedback form.

The support service works 5 days a week on weekdays 24 hours a day, but this does not prevent them from ignoring customer requests, as they say in the reviews. On the positive side, multilingual support and a section with answers to frequently asked questions can be noted.

In the reviews, Forex Chief users write that the company's support service does not respond as often as they would like, and when it comes to withdrawing money, they can even respond rudely.

Reviews about Forex Chief

Throughout the article, we wrote that clients write reviews about one or another aspect of working with Forex Chief. In this section, we will consider a set of reviews and collect a complete opinion about the company.

On various portals, there are both positive and negative reviews about working with the company. But, as many users note, the positive ones are often purchasable. Judge for yourself, on the ForexChief website you will not find bad reviews about the work of the broker. It is understandable, they do not need problems, but they need customers who will bring them money.

Positive reviews praise the company no matter what. They say that they raise millions of money with them and do not think to stop.

The negative reviews, on the other hand, look at the problems that ForexChief clients face. Namely:

• The support service can easily be rude to a person and not answer his question;
• The support service does not always respond to requests;
• The term for transferring funds often exceeds the stated limits;
• The tutorial is not good enough to start trading after it, even a demo account does not help much;
• Investment programs are more designed for experienced traders who trade in large volumes, like the entire site as a whole.

In addition, the reviews separately mention the ForexChief bonus program. Users write that this program, of course, works, but thanks to consultants, all bonuses disappear before they can be received. There is more than one such review, which proves that ForexChief clients do not lie.

In general, the authors of the reviews are not happy with the fact that the main activity of the ForexChief brokerage company is aimed at enriching either owners or experienced traders, there is nothing for beginners to do here.

Conclusions about ForexChief

In this article, we took a closer look at ForexChief, studied the reviews that customers write about them and were able to highlight their positive and negative sides.

Positive sides:

• Good level of security;
• There are bonuses, affiliate programs and favorable trading conditions.

There were more negative sides, as can be judged by the reviews of ForexChief:

• No bonuses for cent account;
• The support service is weak;
• Few opportunities for passive trading;
• Withdrawals are often delayed;
• Weak training program;
• Bonuses are more for experienced traders;
• Affiliate program, reminiscent of a financial pyramid.

If you have had experience with the ForexChief brokerage company, be sure to write a review about it so that other users understand whether it is worth working with this organization or not.

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