xChief Review | ForexChief Review 2025

Is xChief  Scam or Legit Broker?

xChief previously known as ForexChief is not a legit broker as it does not hold any serious license. As a general rule, we recommend avoid offshore and non-regulated entities as traders who invest in non-regulated firms often cannot recover funds invested or gains received, besides offshore registration is very easy to obtain so you never know for sure if a company follows scrupulous trading business or not.

Thus, we strongly advise against responding to any suspicious offering in regard to trading of financial investments and choosing only among the regulated entities.

• xChief company office previously mentioned its location in Vanuatu, with representative offices around the world, as well as registration and regulation available for ex name ForexChief  with the local authority VFSC (Vanuatu Financial Services Commission). For now xChief shows licenses from another offshore zone Comoros, which is still very poorly regulated and overseeing financial companies. Therefore, there is not much trust in such companies, as offshore registration almost does not oversee the company operation further on which is not safe for traders.

What is xChief?

xChief is a Forex brokerage firm that proposes trading opportunities on 35 currency pairs, including metals, Crypto and other derivatives through an STP execution access to the market.  In order to carry out transactions with currency contracts and metals, the Company's customers are offered the most popular platform in the area of forex trading - MetaTrader 4/5. There are also some alluring opportunities like ForexChief no deposit bonus, now known as xChief Bonus and high leverage, which is typically for offshore brokers. 

There are several account types offered, promising STP and ECN execution, in line of account types there is "cent" accounts, where the balance size can be used not only for the reduction of investment risks but also for testing trading conditions in general.

Overall xChief Ranking 

Regarding our finds and issues with regulations and safety of xChief, we do not rank positively xChief, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• xChief Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

xChief Alternative Brokers

Based on our finds and issues with the safety for all the previous name ForexChief scam risk is very high and current xChief serves the same concerns. Here are much better Alternatives to ForexChief with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• FXTM – Good for Beginners

xChief Deposits and Withdrawals

The broker offers various deposit and withdrawal options – Bank Transfer, Credit/Debit Card and e-wallets such as Skrill, Neteller, Webmoney. However, due to its unregulated nature, there is no strict guarantees on payment procedures. 

• For Credit/Debit cards deposits are almost instant. However, for other methods, it takes up to 2 working days to transfer the funds into the client's accounts. The minimum deposit of the broker is 10%. 
• The withdrawals take from 2 to 7 working days to be set on the client's account. For electronic payment methods, the withdrawal time is 1 working day. 
• The Company mentions that it will not be responsible for the Client's financial losses if they were caused by a delay in a transfer due to a fault in a payment system. Crediting funds to the trading account will be made only after the Company receives a confirmation from a payment system regarding the remittance of the transfer.

xChief Review Conclusion

Overall xChief previously known as ForexChief reviews company that is solely offshore based. Even conditions seems to be quite pleasant with good choice of platforms and account types as a general rule, we recommend avoid offshore and non-regulated entities. xChief is based under offshore jurisdiction therefore the only safety applied there is just personally to test the company our, which in our view is not reasonable and very very risky. 

We advise firms to trade and invest only with brokers that are regulated by reputable authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that for instance apply for compensation and are supervised at every step they do. We recommend signing in with reliable brokers such as BlackBull Markets, FXGT, and FBS.

• Overall ranking and experience for xChief is Negative