No data
简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Do you want to know which is the better broker between NordFX and xChief ?
In the table below, you can compare the features of NordFX , xChief side by side to determine the best fit for your needs.
--
--
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 nordfx, 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.
NordFX Review Summary in 10 Points | |
Founded | 2008 |
Registered Country/Region | Vanuatu |
Regulation | VFSC (revoked), CYSEC (suspicious clone) |
Market Instruments | Fx pairs, metals, cryptocurrencies, CFD indices & stocks, oil |
Demo Account | Available |
Leverage | 1:1000 |
EUR/USD Spread | From 2 pips (Fix accounts) |
Trading Platforms | MT4 |
Minimum deposit | $10 |
Customer Support | 24/5 online chat, phone, email |
NordFX is a forex broker that offers over 30 currency pairs, bitcoin, other cryptocurrencies, gold and silver for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4 across multiple devices enhances the convenience and accessibility of trading.
However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.
Pros | Cons |
• Multiple trading assets and funding options | • No regulation |
• Demo accounts available | • Reports of issues with withdrawals |
• Low minimum deposit ($10) | • Clients from USA, Canada, EU, Russian Federation, Cuba, Sudan and Syria are excluded |
• MT4 supported | |
• Rich trading tools and educational resources |
There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:
IC Markets - Best broker on the market with fast support and flawless spreads and order execution.
Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.
AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
NordFX does not hold any valid regulatory licenses at this stage and its Vanuatu Financial Services Commission (VFSA) license is revoked and Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license is a suspicious clone.
It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.
NordFX provides a diverse range of market instruments for traders to choose from. They offer a selection of FX pairs, allowing traders to participate in the foreign exchange market and take advantage of currency fluctuations.
Additionally, NordFX provides access to trading metals, such as gold and silver, offering opportunities for investors interested in the precious metals market. Cryptocurrencies are also available for trading, allowing traders to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and more.
Furthermore, NordFX offers CFDs on indices and stocks, enabling traders to trade popular global indices and individual stocks. Lastly, oil trading is available, allowing traders to participate in the energy markets by speculating on the price of crude oil.
NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.
For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.
NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.
However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.
NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.
While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side. Traders should consider their trading preferences and strategies to choose the account type that best aligns with their needs.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
NordFX | From 2 pips (Fix) | $0 (Fix, Pro) |
IC Markets | From 0.0 pips | $7 round turn |
RoboForex | From 0.0 pips | $0 (Pro) |
AvaTrade | From 0.9 pips | $0 (AvaTradeGO), $7 round turn (MT4/MT5) |
Please note that the spreads and commissions may vary depending on the specific account types and trading conditions offered by each broker. It's advisable to refer to the official websites or contact the brokers directly for the most up-to-date and accurate information.
NordFX provides traders with the popular and widely recognized MetaTrader4 (MT4) platform, available for Windows, Mac, iPhone, and Android devices. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators and analysis tools. With MT4, traders can access real-time market data, place trades, set stop-loss and take-profit levels, and manage their positions efficiently.
The platform also supports automated trading through expert advisors (EAs), allowing traders to implement and test their own trading strategies. Additionally, NordFX offers mobile versions of MT4, enabling traders to stay connected and manage their trades on the go.
Overall, NordFX's provision of MT4 across multiple devices ensures convenience, flexibility, and a seamless trading experience for its clients.
See the trading platform comparison table below:
Broker | Trading Platforms |
NordFX | MetaTrader 4 (MT4) |
IC Markets | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
RoboForex | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
AvaTrade | AvaTradeGO, MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaOptions, AvaTradeAct |
NordFX offers a range of useful trading tools designed to enhance the trading experience and provide valuable market insights. Traders can access various analysis tools, including technical analysis reports and market news updates, which can help them make informed trading decisions. The Economic Calendar feature keeps traders updated on important economic events and their potential impact on the markets. NordFX also offers Trading Signals, which provide valuable trading ideas and recommendations generated by experienced analysts.
For traders who require uninterrupted trading, NordFX offers Virtual Private Server (VPS) hosting, ensuring reliable and high-speed trading execution. Additionally, the Trader's Calculator helps traders calculate position sizes, profit/loss, and other important trading parameters. Lastly, the Currency Converter tool allows for quick and easy conversion of currencies. These trading tools provided by NordFX aim to empower traders with valuable information, analysis, and resources to support their trading strategies and decision-making processes.
NordFX offers a variety of convenient deposit and withdrawal options to cater to the diverse needs of its clients. Traders can fund their accounts using Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.
USD, EUR, CNY, IDR, GBP, VND, THB, PHP
NordFX | Most other | |
Minimum Deposit | $10 | $100 |
The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.
Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.
NordFX places a strong emphasis on customer support and offers multiple channels for traders to get in touch with their team. Clients can utilize the online chat feature on their website for immediate assistance, or they can opt to contact NordFX through phone or email. Additionally, traders have the option to send messages online for any inquiries or concerns they may have. NordFX also maintains an active presence on various social media platforms, including Telegram, Twitter, Facebook, Instagram, YouTube, LinkedIn, and Pinterest.
Overall, NordFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Pros | Cons |
• Multiple contact channels | • Limited availability of 24/7 customer support |
• Social media presence for updates and announcements |
Note: These pros and cons are subjective and may vary depending on the individual's experience with NordFX's customer service.
On our website, you can see that some reports of unable to withdraw. 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.
NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.
In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.
Q 1: | Is NordFX regulated? |
A 1: | No. NordFX holds a revoked Vanuatu Financial Services Commission (VFSC) license and a suspicious clone Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license. |
Q 2: | At NordFX, are there any regional restrictions for traders? |
A 2: | Yes. NordFX does not offer its services to residents of the following jurisdictions: USA, Canada, EU, Russian Federation, Cuba, Sudan and Syria. |
Q 3: | Does NordFX offer demo accounts? |
A 3: | Yes. |
Q 4: | Does NordFX offer the industry leading MT4 & MT5? |
A 4: | Yes. It supports MT4. |
Q 5: | What is the minimum deposit for NordFX? |
A 5: | The minimum initial deposit to open an account is $10. |
Q 6: | Is NordFX a good broker for beginners? |
A 6: | No. It is not a good choice for beginners. Though it advertises well, it lacks legitimate regulation. |
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 nordfx and forexchief are, we first considered common fees for standard accounts. On nordfx, the average spread for the EUR/USD currency pair is from 0.9 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.
nordfx is regulated by VFSC,CYSEC. 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.
nordfx provides trading platform including Pro,Fix,Zero,Savings and trading variety including 33 FX Pairs + Metals + Crypto + CFD Indices & Stocks + Oil. forexchief provides trading platform including xPRIME,DirectFX,Classic+,CENT and trading variety including 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto.