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Do you want to know which is the better broker between FIBO Group and xChief ?
In the table below, you can compare the features of FIBO Group , xChief side by side to determine the best fit for your needs.
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EURUSD:0.9
EURUSD:2.5
EURUSD:21.75
XAUUSD:35
EURUSD: -8.9 ~ 1.1
XAUUSD: -29.8 ~ 9.2
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fibo-group, forexchief lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Feature | Detail |
Registered Country/Region | The Virgin Islands |
Found | 1998 |
Regulation | CYSEC & BaFin |
Market Instrument | Forex CFDs, spot metals, cryptocurrencies |
Account Type | MT5 NDD, cTrader NDD, MT4 NDD No Commission, MT4 NDD, MT4 Fixed, and MT4 Cent |
Demo Account | yes |
Maximum Leverage | 1:1000 |
Spread | Vary on the account type |
Commission | Vary on the account type |
Trading Platform | MT4, MT5, cTrader |
Minimum Deposit | $0 |
Deposit & Withdrawal Method | Bank Wire Transfer, Bank Card or e-payment systems |
FIBO Group, a trading name of FIBO Group Holdings Limited, is an online financial dealer, established in 1998 with four offices worldwide in Shanghai, Alma-Ata, Limassol, and Munich.
FIBO Group, or International Financial Holding FIBO Group, is an international financial holding company that was established in 1998. It offers online trading services, primarily in the foreign exchange market, but also provides a platform for the trading of CFDs, commodities, and cryptocurrencies. Headquartered in Vienna, Austria, the company has a global presence with subsidiaries in the British Virgin Islands, Cyprus, Australia, Singapore, and Russia, as well as offices in several other countries. FIBO Group started as an investment consulting firm and evolved into a prominent player in the forex market, and in 2017 it expanded into cryptocurrency derivatives.
Here is the home page of this brokers official site:
FIBO Group is under the regulations of several regulation authorities, including CySEC in Crypus ( Regulatory license no. 182/11), BaFin in Germany (Regulatory license no.124031), a European Authorized Representative license from FCA (revoked) in the UK, with registration number 532885, and an offshore retail forex license from FSC in the Virgin Islands ( regulatory license number SIBA/L/14/1063).
Note: The screenshot date is January 30, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
FIBO Group presents a range of advantageous features for traders. Firstly, they offer multiple trading platforms, ensuring flexibility and choice. Competitive spreads are provided across various trading instruments, contributing to cost-efficiency. The availability of flexible leverage options allows traders to tailor their exposure according to their risk preferences. FIBO Group also caters to diverse trading needs through a variety of account types. In addition, they provide valuable trading tools, including market sentiment data, economic calendars, and trading signals, enhancing decision-making capabilities. Traders can further benefit from the educational resources offered by FIBO Group's Academy, which includes webinars and a comprehensive glossary. It's important to note that PAMM account availability may be limited on certain platforms, and customer support availability may primarily be on weekdays.
Pros | Cons |
Multiple Trading Platforms | Limited Availability of PAMM Accounts |
Competitive Spreads | Limited Customer Support Availability |
Flexible Leverage Options | |
Diverse Account Types | |
Additional Trading Tools | |
Educational Resources |
FIBO Group offers mainstream and popular financial products in the global financial market for investors, including forex (60 currency pairs), precious metals (gold and silver), cryptocurrencies (Bitcoin, Ethereum, Litecoin, Zcash, Dash, Monroe), CFDs, etc.
CFD Trading:
CFD trading, which stands for Contract for Difference, allows traders to speculate on the price movements of various financial instruments, such as currencies, shares, commodities, and indices. Traders do not own the underlying asset but rather enter into a contract based on the price difference between the opening and closing of the trade.
Spot Metals:
FIBO Group provides access to spot metals trading, particularly gold and silver. Spot metals are traded based on the current market price and allow traders to take advantage of price movements in these precious metals.
Forex:
Forex, also known as foreign exchange, involves the trading of currencies. It is the largest and most liquid financial market globally, where traders aim to profit from fluctuations in currency exchange rates. FIBO Group offers a wide range of currency pairs for forex trading.
Cryptocurrencies:
FIBO Group also enables trading in cryptocurrencies, which are digital assets that utilize cryptographic technology. Traders can speculate on the price movements of popular cryptocurrencies like Bitcoin, Ethereum, and others. Cryptocurrency trading with FIBO Group is typically conducted through CFDs, allowing traders to benefit from price speculation without owning the actual digital tokens.
By offering these market instruments, FIBO Group provides traders with a diverse range of opportunities to participate in global financial markets and capitalize on price fluctuations across different asset classes.
MT4 Cent Account:
The MT4 Cent Account is designed for traders who want to start with smaller amounts. It operates on the market maker order execution technology. This account has a minimum deposit requirement of 0 cents, making it accessible to those with limited funds. The account uses the fifth decimal point, allowing for more precise pricing. The minimum lot and volume step are set at 0.01, providing flexibility in trade sizes. The spread starts from 0.6 pips, and there is no commission charged. The leverage offered is 1:1000, allowing traders to amplify their positions. The stop out level is set at 20%, meaning positions will be automatically closed if the account equity falls below this threshold. The account currency options include USD cent and GLD Cent1. CFD trading is not available in this account. Traders can access 32 currency pairs and can have a maximum of 50 open orders. The maximum order volume is set at 100 lots or 1 standard lot. Managed account (PAMM) feature is not available in this account.
MT4 Fixed Account:
The MT4 Fixed Account is suited for traders who prefer a fixed spread model. It also operates on the market maker order execution technology. The minimum deposit requirement for this account is $50. The account uses a standard four decimal point pricing system. The minimum lot and volume step are the same as the MT4 Cent Account, set at 0.01. The spread starts from 1 pip, and no commission is charged. The leverage offered is 1:200. The stop out level is set at 20%. The account currency options include EUR, USD, RUR, CHF, and GBP. CFD trading is available in this account. Traders can access 43 currency pairs, although information regarding the maximum open orders and maximum order volume is not provided. The account offers a managed account (PAMM) feature, allowing traders to invest in PAMM accounts and allocate funds to professional traders.
MT4 NDD Account:
The MT4 NDD Account operates on the No Dealing Desk (NDD) order execution technology, providing traders with direct market access. The minimum deposit requirement is $50. The account uses the fifth decimal point for precise pricing. The minimum lot and volume step are set at 0.01, similar to the other MT4 accounts. The spread starts from 0 pips, but there is a commission of 0.003% charged based on the transaction amount. The leverage offered is 1:400, providing increased buying power. The stop out level is set at 50%, allowing for more flexibility in margin requirements. The account currency options include EUR, USD, and GLD2. CFD trading is available in this account. Traders can access 32 currency pairs, and the account offers a managed account (PAMM) feature.
cTrader NDD Account:
The cTrader NDD Account is designed for traders who prefer the cTrader platform and the benefits of No Dealing Desk (NDD) execution. The minimum deposit requirement for this account is $50. The account uses the fifth decimal point for precise pricing. The minimum lot and volume step are the same as the other accounts, set at 0.01. The spread starts from 0.8 pips, and there is no commission charged. The leverage offered is 1:400. The stop out level is set at 50%. The account currency options include EUR, USD, GLD2, BTC3, and ETH4, providing additional flexibility. CFD trading is not available in this account. Traders can access 32 currency pairs, and the account offers a managed account (PAMM) feature.
MT5 NDD Account:
The MT5 NDD Account is designed for traders who prefer the MT5 platform and direct market access through No Dealing Desk (NDD) execution. The minimum deposit requirement for this account is $50. The account uses the fifth decimal point for precise pricing. The minimum lot and volume step are set at 0.01. The spread starts from 0 pips, and there is a commission of 0.005% charged based on the transaction amount. The leverage offered is 1:400. The stop out level is set at 50%. The account currency option is limited to USD. CFD trading is not available in this account. Traders can access 33 currency pairs, and information regarding the maximum open orders and maximum order volume is not provided. The account offers a managed account (PAMM) feature.
Demo Account: A demo account is a practice account that allows traders to simulate trading without using real money. It is useful for learning and testing trading strategies in a risk-free environment.
7. Managed Account:
The Managed Account option is available only for the MT4 Fixed and MT4 NDD account types. With a Managed Account, clients can have their trading account managed by a professional fund manager. The fund manager trades on behalf of the client, aiming to generate profits. However, the availability of Managed Accounts may be subject to certain conditions and requirements set by the broker.
It is important for clients to thoroughly understand the terms and conditions, fees, and risks associated with managed accounts before opting for this service.
FIBO Group provides leverage to traders, which is the capital offered by the broker to potentially amplify funds by using a ratio of the trader's capital to the broker's credit. While leverage presents an opportunity to increase funds, it's important for traders to understand that higher leverage also comes with higher risks. FIBO Group adheres to regulatory restrictions, offering leverage ratios of up to 1:30 for major currency pairs and 1:10 for commodities, while the MT4 Cents account offers leverage up to 1:1000 and NDD accounts offer leverage up to 1:400.
Spreads and Commissions
Forex brokers generate income through commissions and spreads. Commissions refer to the fees charged by brokers for facilitating trades, and they vary depending on the instrument and account type. FIBO Group does not charge commissions on its MT4 Cent and MT4 Fixed accounts.
On the other hand, spreads are the difference between the bid price (the price at which traders can sell) and the ask price (the price at which traders can buy). Spreads can be either variable or fixed, depending on market conditions such as interest rates. FIBO Group offers a range of spreads, with minimum spreads ranging from 0 pips to 2.0 pips, depending on the specific account type.
Additionally, some brokers impose rollover or swap fees for positions held open overnight. These fees are determined by the interest rate differential between the currency pairs involved in the open position.
For the MT4 NDD, cTrader NDD, and MT5 NDD accounts offered by FIBO Group, commissions are charged ranging from 0.003% to 0.005% of the transaction amount. It's important to note that the specific fees may vary depending on the account type and trading conditions.
Overall, understanding the fees involved in trading is essential for traders to manage their costs and make informed decisions when choosing a broker.
1. Sign up-Creating your Client Area. The first stage of registration with the company is creating your Client Area. To do this, you need to indicate your email address and phone number in the sign-up form on the site.
2. Verification of email, phone number and proof of identity. To verify your email, this broker will send you an email to the address you indicate while signing up. Click the link in the message to confirm your email address.
3. Depositing funds to your account and starting trading.
The minimum spread for MT4 Cent Accounts is 0.6 pips, with no commission. The minimum spread for MT4 Fixed Accounts is 2 pips, with no commission. The minimum spread for MT4 NDD Accounts is 0 pips, and the commission is 0.003% of the trading volume. MT4 NDD No-Commission Account has a minimum spread of 0.8 pips. cTrader NDD Accounts has a minimum spread of 0 pips, and the commission is 0.003% of the trading volume. MT5 NDD Account has a minimum spread of 0 pips, and the commission is 0.005% of the trading amount.
FIBO Group provides traders with a choice of three reliable and widely-used trading platforms. The cTrader platform offers direct trading with international banking institutions and features high-speed order execution, customizable indicators, and market depth display. The MetaTrader 4 platform is customizable and user-friendly, with a range of technical indicators, strategy tester, and one-click trading. The MetaTrader 5 platform offers multi-asset trading, advanced strategy tester, netting and hedging modes, and comprehensive analytical tools such as built-in indicators, financial news, and an economic calendar. All platforms are available on desktop, Android, and iOS devices, catering to traders' diverse needs and preferences.
cTrader Tools is a collection of features and functionalities available on the cTrader trading platform. Two notable features include:
cTrader Mirror: This feature enables social trading, allowing traders to become either strategy providers or investors. Strategy providers can share their trading strategies and allow other traders to copy their trades. Investors, on the other hand, can browse and select strategies to automatically replicate trades in their own accounts.
cAlgo: cAlgo is a platform within cTrader that allows users to create custom indicators, trading robots, and other software using the C# programming language. Traders can develop their own tools and automate their trading strategies based on their unique requirements.
PAMM Accounts:
PAMM (Percentage Allocation Management Module) Accounts are investment accounts offered by some brokers. Here are key points regarding PAMM accounts:
Manager and Investor Options: PAMM accounts allow clients to participate either as a manager or an investor. Managers are responsible for trading on behalf of investors, while investors provide the funds to be traded.
Diversification and Risk Preferences: Investors can choose from various PAMM accounts based on their risk preferences. Each account may have different trading strategies and risk levels, providing options for diversification and accommodating different investor profiles.
Performance and Risk: It's important to note that while PAMM accounts offer potential profitability, there is no guarantee of returns. Past performance of PAMM managers is not indicative of future results, and investors should carefully consider the risks involved.
Assets Management:
Assets Management is a service offered by the FIBO Group that allows clients to invest in portfolios managed by experienced asset managers. Here are some key points about this service:
Portfolio Options: FIBO Group offers various portfolios to suit different risk preferences and financial goals. Clients can choose from a range of portfolios that align with their investment objectives.
Performance-based Fees: Asset managers charge performance-based fees, meaning their compensation is tied to the performance of the portfolio. If the portfolio performs well, the manager receives a higher fee, incentivizing them to strive for positive returns.
Market Sentiment:
Market Sentiment is a feature that provides real-time trade statistics to assist traders in gauging market sentiment. Here are some details:
Real-time Trade Statistics: Market Sentiment offers traders access to real-time trade statistics. These statistics are derived from aggregated data obtained from clients' accounts, providing insights into the prevailing market sentiment.
Market Analysis:
FIBO Group's analyst team regularly provides updates on news, events, and fundamental factors that impact the financial markets. Key points about Market Analysis include:
Expert Insights: FIBO Group's analyst team shares their analysis and commentary on various financial markets, helping traders stay informed about significant market developments.
Economic Calendar:
The Economic Calendar is a customizable tool that displays important economic events, analysts' forecasts, and historical data. Here's what you should know about it:
Event Tracking: The Economic Calendar tracks significant economic events, such as interest rate decisions, GDP releases, and employment reports. It also includes forecasts and historical data for reference.
Trading Signals:
Trading Signals are available on the MT4 and MT5 trading platforms. Here's an overview of this feature:
Signal Services: Clients can search for and subscribe to signal services provided by other traders. These signals can be used to receive trade recommendations, helping traders make informed trading decisions.
The deposit method supports SWIFT ( deposit accepting EUR & USD, the commission generally 35 to 50 US dollars, and the transfer time takes 2-5 working days; the withdrawal accepting EUR, USD, BGP & CHF, and the withdrawal fee usually 35 to 50 US dollars.), UnionPay (accepting RMB, no commission, credited immediately after payment is successful), VISA/MASTERCARD (deposit accepting EUR & USD, no commission, credited immediately after payment is successful; withdrawal accepting EUR & USD, and the commission 2.5%+1.5 Euros), RegularPay (accepting EUR and USD, no commissions, through the RegularPay system processing centre to use bank cards to inject funds; withdrawal accepting EUR &USD, with a withdrawal fee of 10 dollars or other equivalent amounts), ZOTAPAY (supporting RMB, no commission for deposits, the payment is processed immediately when the invoice is paid, and the withdrawal with 2.2% commission), Neteller (supporting EUR &USD, no commission), WebMoney (deposits and withdrawals both supporting EUR &USD, a commission of 0.8% is charged, and it will be credited automatically after successful payment). The company also supports a series of cryptocurrency deposits and withdrawals.
The customer support team at FIBO Group operates from multiple office locations and is available from Monday to Friday. They offer support in up to 12 languages, which is advantageous for non-English speakers. You can easily reach the support team through online instant web chat, email, and dedicated phone lines for different regions. Additionally, the website provides a helpful FAQ section for quick answers to common queries. FIBO Group is also active on various social media platforms, providing additional channels for communication.
FIBO Group offers a comprehensive educational resource called the FIBO Group Academy, which caters to both beginner and experienced traders. This shows their commitment to providing traders with the knowledge they need to make informed decisions. The Academy brings together experienced teachers and practicing traders who aim to help participants understand the fundamental principles of financial markets and apply their knowledge effectively.
One of the educational resources provided by FIBO Group is webinars. These video courses are conducted by experienced traders who cover topics such as the basics of forex trading, terminology, and trading instruments in the forex market. The webinars can be accessed online and are available for on-demand viewing in case participants are unable to attend the live sessions.
Additionally, FIBO Group's website features a glossary that contains over 230 trading-related terms and their explanations. This searchable glossary allows traders to familiarize themselves with important trading terms that they may encounter in their trading journey.
Overall, FIBO Group's educational resources serve as valuable tools for traders to enhance their understanding of the financial markets and improve their trading skills.
FIBO Group is a well-established brokerage firm with a strong reputation in the industry. They provide access to multiple trading platforms, including cTrader, MetaTrader 4, and MetaTrader 5, offering a wide range of trading instruments such as forex, CFDs, and futures. The company offers competitive spreads, flexible leverage options, and various account types to suit different trading preferences. Traders have access to a range of tools and resources, including market analysis, economic calendars, and trading signals, which can help them make informed trading decisions. FIBO Group also offers educational resources through their Academy, including webinars and a comprehensive glossary, to enhance traders' knowledge and skills.
Overall, FIBO Group offers a comprehensive trading experience with its diverse range of platforms, competitive trading conditions, and additional trading tools. The provision of educational resources demonstrates their commitment to supporting traders in their journey.
Q1: What trading platforms does FIBO Group offer?
A1: FIBO Group offers cTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5) as trading platforms.
Q2: What is the minimum deposit requirement for opening an account with FIBO Group?
A2: The minimum deposit requirement to open an account with FIBO Group is $100.
Q3: What is the maximum leverage available for trading with FIBO Group?
A3: FIBO Group offers leverage of up to 500:1, allowing traders to control larger positions with a smaller initial investment.
Q4: Does FIBO Group charge commissions on all account types?
A4: No, FIBO Group does not charge commissions on the MT4 Cent and MT4 Fixed account types. However, commissions are charged on the MT4 NDD, cTrader NDD, and MT5 NDD accounts.
Q5: What customer support options are available at FIBO Group?
A5: FIBO Group provides customer support through online live chat, email, and dedicated phone lines. Their support team operates from Monday to Friday and offers assistance in multiple languages.
Q 1: | At FIBO Group, are there any regional restrictions for traders? |
A 1: | Yes. The services of FIBO Group are not provided to residents of the United Kingdom, North Korea and the USA. |
Q 2: | Can I have more than one account? |
A 2: | Yes, you may open more than one account with FIBO Group. To open an additional account you should log in to your client area and click “Open a new trading account.” It is not necessary to submit your ID and Utility bill again (Unless the details have changed). |
Q 3: | Can I trade with an EA (Expert Advisor or robot)? |
A 3: | Yes, you may trade with any forex Expert Advisors you like. |
Q 4: | What is the minimum deposit for FIBO Group? |
A 4: | There is no minimum initial deposit requirement. |
Q 5: | Is FIBO Group a good broker for beginners? |
A 5: | Yes. FIBO Group is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
xChief Review Summary in 10 Points | |
Founded | 2014 |
Registered Country/Region | Comoros |
Regulation | MISA |
Market Instruments | Forex, Metals, Commodities, Indexes, Stocks, Crypto |
Demo Account | Available |
Leverage | 1:1000 |
EUR/USD Spread | From 0 pips |
Trading Platforms | MT4, MT5, xChief App |
Minimum deposit | $10 |
Customer Support | Live chat, phone, email |
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 Ltd is a retail forex broker regulated by the Mwali International Services Authority (MISA) in Comoros with the license number T2023379.
xChief has several notable pros and cons. The broker offers a wide range of trading instruments, multiple account types, and user-friendly MetaTrader platforms. They also prioritize the safety of client funds with segregation and negative balance protection. Additionally, their transparent and competitive spreads, along with various deposit and withdrawal options, add to their appeal.
Pros | Cons |
• Regulated by MISA | • Reports of withdrawal issues and slippage |
• Wide range of trading instruments | |
• Multiple account types | |
• Demo accounts and Islamic accounts available | |
• Transparent and competitive spreads | |
• MT4/5 supported | |
• Copy trading available | |
• Multiple deposit and withdrawal options |
There are many alternative broker s to xChief depending on the specific needs and preferences of the trader. Some popular options include:
xChief provides a diverse range of over 150 trading instruments, enabling traders to access various financial markets. The broker offers a wide selection of Forex currency pairs, allowing traders to engage in currency trading across major, minor, and exotic pairs. Additionally, xChief offers trading opportunities in precious metals like gold and silver, which are popular for their perceived value and safe-haven status. Traders can also explore the commodities market, including energies like crude oil and natural gas, as well as agricultural products like wheat and corn.
Furthermore, xChief provides access to a range of global stock indices, enabling traders to speculate on the performance of leading stock markets worldwide. Lastly, the broker offers exposure to the rapidly growing cryptocurrency market, allowing traders to trade popular digital currencies such as Bitcoin, Ethereum, and Litecoin. With this extensive selection of trading instruments, xChief aims to cater to the diverse needs and preferences of traders.
xChief offers a variety of trading accounts to suit the needs of different traders. The MT4/5.DirectFX and MT4/5.Classic+ accounts are designed for standard trading, providing access to a wide range of trading instruments. These accounts have a minimum deposit requirement of $10, making them accessible to traders with different budget sizes.
For those interested in PAMM (Percentage Allocation Management Module) trading, xChief offers pamm-MT4/5.DirectFX and pamm-MT4/5.Classic+ accounts, which allow investors to allocate their funds to experienced traders for potential profits.
Additionally, xChief provides cent-MT4/5.DirectFX and cent-MT4/5.Classic+ accounts for traders who prefer to trade with smaller volumes, as these accounts are denominated in cents instead of dollars.
Account Type | MT4/5.DirectFX | MT4/5.Classic+ | pamm-MT4/5.DirectFX | pamm-MT4/5.Classic+ | cent-MT4/5.DirectFX | cent-MT4/5.Classic+ |
Minimum Deposit | $10 (or equivalent) | |||||
Account Currency | USD/CHF/GBP/EUR/JPY | USD/EUR | USD/CHF/GBP/EUR/JPY | |||
Size of 1 lot (Forex) | 100 000 | |||||
Stop Out | 30% | |||||
Min Order Size (lots) | 0.01 (increment - 0.01) | |||||
Welcome bonus $500 | Available | No | ||||
Swap-free |
Demo accounts are available for traders to practice their strategies and familiarize themselves with the trading platform without risking real money. xChief also offers Islamic/Swap-free accounts for clients who follow Islamic principles and wish to trade without incurring interest charges. With this wide range of account types, xChief aims to cater to the diverse preferences and trading styles of its clients.
xChief offers leverage of up to 1:1000, which provides traders with the opportunity to amplify their trading positions and potentially increase their profit potential. With high leverage, traders can control larger positions with a smaller amount of capital, allowing for greater flexibility and potential returns. However, it's important to note that while leverage can enhance profits, it also magnifies losses, so proper risk management is crucial when trading with high leverage.
xChief offers competitive spreads and commissions to its traders. The spread for DirectFX accounts is floating from 0 pips, which means traders can benefit from tight spreads on their trades. For Classic+ accounts, the spread is floating from 0.3 pips, still providing traders with favorable trading conditions. It's important to note that spreads may vary depending on market conditions and the specific trading instrument.
As for commissions, xChief provides detailed information on its website. Commissions are charged based on the account type and vary accordingly. More deails can be founded in the table below.
Account Type | MT4/5.DirectFX | MT4/5.Classic+ | pamm-MT4/5.DirectFX | pamm-MT4/5.Classic+ | cent-MT4/5.DirectFX | cent-MT4/5.Classic+ |
Spread | Floating from 0 pips | Floating from 0.3 pips | Floating from 0 pips | Floating from 0.3 pips | Floating from 0 pips | Floating from 0.3 pips |
Commission | Forex, Metals, Commodities, Indexes - $15 per MioStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - freeStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - $15 per MioStocks, Crypto - 0.1% | Forex, Metals, Commodities, Indexes - freeStocks, Crypto - 0.1% | Forex, Metals - $15 per Mio | Forex, Metals - free |
By offering competitive spreads and transparent commission structures, xChief aims to provide its clients with cost-effective trading solutions and enhance their overall trading experience.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commissions |
xChief | 0.0 pips | Variable |
TigerWit | 1.0 pips | No |
Trading | 0.6 pips | Variable |
TrioMarkets | 0.3 pips | Variable |
xChief offers a wide range of trading platforms to cater to the diverse needs of its clients. One of the primary platforms provided is MetaTrader 5 (MT5), a powerful and advanced trading platform known for its comprehensive features and flexibility. Traders can access MT5 through various versions, including MT5 for Android, MT5 for iPhone and iPad, and MT5 WebTerminal, allowing them to trade on the go from their mobile devices or through a web browser.
Additionally, xChief also offers MetaTrader 4 (MT4), a popular and widely used platform known for its user-friendly interface and extensive charting capabilities. Traders can access MT4 through MT4 for Android, MT4 for iPhone and iPad, and take advantage of its features to execute trades efficiently. Moreover, xChief provides its own xChief App, offering a convenient and intuitive trading experience for clients.
With these robust and versatile trading platforms, xChief aims to empower traders with the necessary tools and technologies to make informed trading decisions and execute trades effectively.
See the trading platform comparison table below:
Broker | Trading Platforms |
xChief | MetaTrader 4 (MT4) |
TigerWit | TigerWit WebTrader |
Trading.com | MetaTrader 4 (MT4) |
TrioMarkets | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TrioMarkets WebTrader |
xChief offers a copy trading feature, which allows traders to automatically replicate the trades of experienced and successful traders in real-time. With copy trading, traders can benefit from the expertise of seasoned professionals without the need for extensive market knowledge or analysis. xChief's copy trading platform enables users to browse through a selection of skilled traders, evaluate their performance metrics, and choose to copy their trades with a simple click.
This feature is particularly beneficial for novice traders who can learn from experienced traders and potentially achieve similar trading results. It also saves time and effort as traders can rely on the expertise of others while still having control over their trading activities. xChief's copy trading feature provides a convenient and efficient way for traders to access profitable trading strategies and potentially enhance their trading performance.
In terms of deposit and withdrawal, like many good brokers, xChief provides a detailed form with important information about payment options, transfer currencies, fees, and transfer time. The feasible payment methods are Bank Wire Transfer, Local Transfer Solutions, Credit/Debit cards, and Electronic Payments including Skrill, Neteller, Advanced Cash, Perfect Money, and FasaPay.
The minimum deposit requirement is set at a competitive $10, allowing traders with different budgets to access the platform. The acceptable currencies include USD, EUR, GBP, CHF, and JPY, providing flexibility for traders from different regions.
xChief | Most other | |
Minimum Deposit | $10 | $100 |
While Credit/Debit card deposits incur a 2% fee, Perfect Money deposits have a fee of 1.99%, and other deposit methods are fee-free. The processing times for deposits vary, with Bank Wire Transfer taking 1-2 business days, Local Transfer Solutions being processed within 24 hours, and Credit/Debit cards and Electronic Payments being instant.
Withdrawals from xChief generally take up to 1 business day, and withdrawal fees depend on the chosen method. Clients are encouraged to refer to the provided screenshot for specific information.
xChief is committed to providing excellent customer service to its clients. Traders have access to multiple channels to reach out for support, including live chat, phone, and email. The availability of live chat ensures quick and real-time assistance, while phone support offers the convenience of direct communication. Additionally, clients can utilize email support for more detailed inquiries or requests. The broker values transparency and provides its company address openly, which adds to the trustworthiness of their operations.
Traders can also find answers to common questions through the readily available FAQs section, which offers self-help resources. Furthermore, xChief maintains a strong presence on various social networks such as Telegram, Twitter, Facebook, and Instagram. By following the broker on these platforms, traders can stay updated with the latest news, market insights, promotions, and engage with the xChief community.
With their comprehensive customer service options and active social media presence, xChief aims to ensure that clients receive the necessary support and stay well-informed throughout their trading journey.
Pros | Cons |
• Live chat support | None |
• 24/7 support in 20 languages | |
• FAQ section available for self-help | |
• Social media presence |
Note: These pros and cons are subjective and may vary depending on the individual's experience with xChief's customer service.
On our website, you can see that some reports of unable to withdraw and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
In conclusion, xChief offers a diverse range of trading instruments, competitive spreads, and multiple account types to cater to different trading preferences. They prioritize the safety of client funds through segregation and negative balance protection. The availability of popular MetaTrader platforms enhances the trading experience.
Q 1: | Is xChief regulated? |
A 1: | Yes. It is regulated by the MISA. |
Q 2: | Does xChief offer demo accounts? |
A 2: | Yes. |
Q 3: | Does xChief offer the industry leading MT4 & MT5? |
A 3: | Yes. It supports T4, MT5, and xChief App. |
Q 4: | What is the minimum deposit for xChief? |
A 4: | The minimum initial deposit to open an account is $10 or equivalent. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fibo-group and forexchief are, we first considered common fees for standard accounts. On fibo-group, the average spread for the EUR/USD currency pair is from 0 pips, while on forexchief the spread is From 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fibo-group is regulated by CYSEC,BaFin,FCA,FSC. forexchief is regulated by MISA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fibo-group provides trading platform including MT5 NDD,cTrader NDD ,MT4 NDD No Commission,MT4 NDD,MT4 Fixed,MT4 Cent and trading variety including --. forexchief provides trading platform including xPRIME,DirectFX,Classic+,CENT and trading variety including 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto.