xChief Overall rating
Rating | Weight | |
User Rating |
3.7 (3 reviews)
|
3 |
Popularity |
3.3
|
3 |
Regulation |
2.0
|
2 |
Pricing rating |
4.7
|
1 |
Features |
Not rated
|
1 |
Customer Support |
Not rated
|
1 |
Pros
- High maximum leverage of 1000:1
- Negative balance protection provided
- Offers both MetaTrader 4 and MetaTrader 5 platforms
- Provides xChief App for mobile trading
- Wide range of tradable instruments, including 100 stock CFDs
- Average swap rates are competitive
- Reasonable user rating of 3.7 out of 5
- Founded in 2014, relatively established in the market
Cons
- Regulated only by Comoros – ML MISA
- No deposit compensation scheme
- No verified user reviews
- Relatively high forex spreads compared to industry leaders
- Privacy of financials and ownership structure
We tested xChief using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
xChief, founded in 2014, is a privately owned broker that is regulated by Comoros – ML MISA. It has a user rating of 3.7 out of 5 based on three user reviews, none of which are from verified accounts. The broker ranks 59 out of 1102 forex brokers based on user ratings and 170 out of 1102 based on expert ratings.
xChief has a popularity rating of 3.3 out of 5, indicating a moderate level of activity and web traffic, with 86,548 organic monthly visits and ranking 137 out of 1102 forex brokers for organic traffic.
Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
---|---|---|---|---|---|---|
xChief Ltd |
|
|
|
|
1000 : 1 |
Deposit Insurance
xChief does not provide a deposit compensation scheme, which means investors are not compensated if the broker fails. This is an important consideration for traders looking to protect their capital.
While the broker does offer segregated client money and negative balance protection, the absence of a deposit compensation scheme adds a level of risk.
Spreads and Costs
When comparing xChief to industry-leading brokers, it becomes clear that xChief has relatively high forex spreads. For example, its average forex spread is 2.97, which is higher than the spreads offered by brokers like IC Markets and IG.
However, its commodities spreads are more competitive, averaging 0.20.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
---|---|---|---|---|
xChief – Standard | - | 2.97 | - | 0.20 |
IG – Standard | 51.55 | 2.25 | 3.75 | 0.24 |
IC Markets – Standard | 9.03 | 1.56 | 1.30 | 0.10 |
Admirals – Trade | - | 2.61 | - | 0.28 |
Forex.com – Standard | - | 2.90 | - | - |
Exness – Standard | 21.98 | 2.13 | 7.23 | 0.12 |
Tickmill – Classic | 8.26 | 2.42 | 1.51 | 0.20 |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool (spread analyzer), which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
---|---|---|---|---|---|---|---|---|---|---|---|---|
xChief – Standard | - | - | 1.63 | 1.98 | 4.08 | 2.41 | 4 .50 | 3.24 | - | - | 0.37 | 0.04 |
IG – Standard | 98.00 | 5.10 | 0.81 | 0.97 | 3.26 | 1.29 | 3.10 | 4.08 | 2.60 | 4.90 | 0.46 | 0.03 |
IC Markets – Standard | 15.06 | 3.01 | 0.90 | 1.12 | 2.02 | 1.43 | 2.31 | 1.58 | 1.70 | 0.89 | 0.18 | 0.03 |
Admirals – Trade | - | - | 1.01 | 1.38 | 2.61 | 1.19 | 4.30 | 5.19 | 3.07 | - | 0.52 | 0.04 |
Forex.com – Standard | - | - | 1.36 | 1.62 | 3.98 | 1.48 | 5.07 | 3.89 | - | - | - | - |
Exness – Standard | 37.57 | 6.42 | 1.20 | 1.75 | 3.79 | 1.87 | 2.74 | 1.44 | 6.50 | 7.96 | 0.20 | 0.05 |
Tickmill – Classic | 14.87 | 1.62 | 1.76 | 2.09 | 2.94 | 1.95 | 2.84 | 2.94 | 1.02 | 2.01 | 0.37 | 0.03 |
Swap Rates/Financing Fees
Swap rates, also known as overnight fees, are charged or paid when a position is held overnight. Positive swap rates pay out to the trader, while negative swap rates cost money.
xChief's average swap rates are generally competitive when compared to industry-leading brokers. For instance, their average swap short for USDJPY long is 1.15, which is relatively favorable.
Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
---|---|---|---|---|---|---|---|---|
xChief | - | -3.88 | -0.33 | -0.21 | -3.26 | 1.15 | 9.20 | -29.80 |
IG | - | - | - | - | - | - | - | - |
IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
Admirals | - | -5.93 | - | - | - | - | 1.43 | -31.59 |
Forex.com | - | - | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
Exness | - | -6.71 | -0.09 | -0.07 | -2.89 | 0.00 | 0.00 | -37.21 |
Tickmill | Best | -2.24 | -0.13 | -0.13 | -2.66 | 1.27 | 20.97 | -32.76 |
Does xChief Offer Islamic/Swap-free Accounts?
Islamic or swap-free accounts are trading accounts that do not incur swap or rollover interest on overnight positions, adhering to Islamic principles.
xChief does offer Islamic accounts for traders who follow Sharia law. These accounts do not charge swap fees but may incur other administrative fees. Interested traders should visit xChief's website or contact their support for specific requirements and details.
Other Fees
Aside from spreads, commissions, and swap rates, brokers may charge other fees such as withdrawal fees, inactivity fees, and others. Here is a summary of xChief's additional fees:
Fee Type | Fee Amount |
---|---|
Withdrawal Fee | $5 per transaction. For more info please visit xChief's deposit/withdrawal web page |
Inactivity Fee | $10 per month after 12 months of inactivity |
Comparison to other Brokers
Comparing xChief to other brokers, xChief offers a high maximum leverage of 1000:1 and competitive swap rates. However, it falls short in regulatory oversight, being regulated only by Comoros – ML MISA.
User reviews are limited and unverified, with a user rating of 3.7 out of 5. In contrast, brokers like IC Markets and IG have more comprehensive regulatory frameworks and generally offer lower spreads across asset classes.
xChief’s web traffic and popularity are moderate, with 86,548 organic monthly visits. While it offers a range of trading platforms including MetaTrader 4 and 5, and its proprietary xChief App, the broker's transparency regarding its financials and ownership structure is lacking.
Trading Platforms - Mobile, Desktop, Automated
Platform | Device | Automated Trading |
---|---|---|
MetaTrader 4 | Desktop, Mobile, Web | Yes, MQL4 (Easy) |
MetaTrader 5 | Desktop, Mobile, Web | Yes, MQL5 (Moderate) |
xChief App | Mobile | No |
xChief offers a variety of trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop, mobile, and web, as well as their proprietary xChief App for mobile trading.
MT4 and MT5 are popular platforms known for their robust charting tools, extensive range of indicators, and automated trading capabilities through their respective scripting languages, MQL4 and MQL5.
The xChief App provides a user-friendly interface for on-the-go trading but lacks automated trading features.
What Can you Trade?
Asset Class | Number of Instruments |
---|---|
Forex CFD | 39 |
Crypto CFD | 5 |
Stock CFD | 100 |
Stock Index CFD | 10 |
Commodities CFD | 5 |
ETFs | - |
Bond CFD | - |
Futures CFD | - |
xChief offers a wide range of tradable instruments, including 39 forex CFDs, 5 crypto CFDs, 100 stock CFDs, 10 stock index CFDs, and 5 commodities CFDs. They do not offer ETFs, bond CFDs, or futures CFDs. Trading CFDs means that you do not own the underlying asset but are speculating on its price movement.
This allows for the use of leverage, which can amplify both gains and losses. For a complete list of available instruments, visit xChief's contract specifications web page.
Available Leverage
xChief offers leverage up to 1000:1 for retail clients, regulated by Comoros – ML MISA. Leverage allows traders to control a larger position with a smaller amount of capital, increasing potential profits but also potential losses.
Specific leverage levels can vary depending on the asset class and the trader’s country of residence.
Prohibited Countries
xChief does not accept clients from certain countries due to regulatory restrictions. These countries include the United States, Canada, Japan, and several others. For a complete list of prohibited countries, refer to xChief's official website.
xChief Account types
Classic+ | CENT | DirectFX | xPRIME | |
Maximum leverage | 1000:1 | 500:1 | 1000:1 | |
Mobile Platform | MT4 Mobile, MT5 Mobile | |||
Trading platform | MT4, MT5 | |||
Spread Type | Variable Spread | |||
Minimum Deposit | 10 | 0 | 50 | 2000 |
Minimum Trade Size | 0.01 | |||
Trailing Stops | ||||
Scalping Allowed | ||||
Hedging Allowed | ||||
Islamic Accounts |
Classic+ | |
Maximum leverage | 1000:1 |
Trading platform | MT4MT5 |
Mobile platform | MT4 MobileMT5 Mobile |
Spread type | Variable Spread |
Minimum deposit | 10 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
|
CENT | |
Maximum leverage | 500:1 |
Trading platform | MT4MT5 |
Mobile platform | MT4 MobileMT5 Mobile |
Spread type | Variable Spread |
Minimum deposit | 0 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
|
DirectFX | |
Maximum leverage | 1000:1 |
Trading platform | MT4MT5 |
Mobile platform | MT4 MobileMT5 Mobile |
Spread type | Variable Spread |
Minimum deposit | 50 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
|
xPRIME | |
Maximum leverage | 1000:1 |
Trading platform | MT4MT5 |
Mobile platform | MT4 MobileMT5 Mobile |
Spread type | Variable Spread |
Minimum deposit | 2000 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
|
xChief Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
Websites |
go.xchief.com
xchief.com
|
Organic monthly visits | 143,840 (99%) |
Organic traffic rank | 108 out of 825 (Forex Brokers) |
Paid monthly visits | 1,018 (1%) |
Total monthly visits | 144,858 |
Bounce rate | 42% |
Pages per visit | 3.26 |
Average visit duration | 00:01:18.2430000 |
xChief Profile
Company Name | xChief Ltd |
Categories | Forex Brokers |
Primary Category | Forex Brokers |
Year Founded | 2014 |
Headquarters | United Arab Emirates |
Office Locations | United Arab Emirates, Indonesia, India, Iran |
Account Currency | CHF, EUR, GBP, JPY, USD |
Support Languages | Arabic, Chinese, English, French, Hindi, Indonesian, Portuguese, Russian, Spanish, Thai, Turkish, Ukrainian, Vietnamese, Bengali, Farsi |
Funding Methods | Bank Wire, Bitcoin, Credit/Debit Card, FasaPay, Litecoin, Neteller, Perfect Money, Skrill, Ethereum, AdvCash, Tether (USDT), Ripple |
Financial Instruments | Forex, Shares, Indices, Oil/Energies, Cryptocurrencies, Metals |
Prohibited Countries | United States |
xChief User reviews
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
xChief Regulation / Money Protection
Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
---|---|---|---|---|---|---|
xChief Ltd |
|
|
|
|
1000 : 1 |
xChief Symbols
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