ForexChief vs InstaForex

ForexChief or InstaForex – which is better for UK traders 2024? Compare ForexChief and InstaForex in this detailed breakdown of their platforms, features and fees.

ForexChief vs InstaForex Comparison Table 2024

ForexChief	InstaForex
3.9	3.7
ForexChief is ranked #48 among CFD brokers.	InstaForex is ranked #11 among CFD brokers.
Review	Review
xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.	InstaForex is a forex and CFD broker founded in 2007. The broker offers diverse market coverage to millions of clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs.
	All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage. You should not engage in trading these instruments unless you fully understand the nature of the transactions you are entering into, and the true extent of your exposure. These types of investments may be suitable for some investors, but they are not for everyone.
Pros
The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses xChief delivers a high-quality trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library Traders can access a copy trading solution via the MetaQuotes Signals service	InstaForex delivers a superb trading environment, with the powerful MT4 and MT5 platforms offering dozens of technical analysis tools, automation capabilities and multiple order types The broker is a particularly good pick for serious forex traders, with over 100 currency pairs, tight spreads from 0.0 pips and a market-leading selection of curated forex market resources The broker is accessible for beginners, with low minimum deposits and zero-commission trading available.
Cons
The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively xChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers The total range of 150+ assets is much lower than most competitors who typically offer hundreds The broker trails competitors when it comes to research tools and educational resources	Customer support is available only in EN, CZ, PL, and SK. The broker provides trading instruments only in the form of CFDs. The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
FCA Regulated
No List of FCA Regulated Brokers	No List of FCA Regulated Brokers
Instruments
CFDs, Forex, Metals, Commodities, Stocks, Indices	Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures
Bonus
	Choose between: Club Bonus, 30 %, 55 % and 100 % bonuses
Demo Account
Yes	Yes
Minimum Deposit
$10	$1
Payment Methods
ADVcash Credit Cards Debit Card FasaPay Neteller Perfect Money Skrill WebMoney Wire Transfer	Mastercard Neteller Rapid Transfer Skrill Visa Wire Transfer
Minimum Trade
0.01 Lots	0.10 of the lot (0.0001 of market lot for Cent.Standard and Cent.Eurica)
Regulator
ASIC	BVI FSC
Mobile Apps
iOS & Android	iOS and Android + browser based platform
iOS App Rating
	3.6
Android App Rating
	3.6
Margin Trading
Yes	Yes
Margin Rate
0.1%
MetaTrader 4
Yes	Yes
MetaTrader 5
Yes	Yes
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	No
Autochartist
No	No
eSignal
No	No
Trading Central
No	No
STP Account
Yes	No
ECN Account
No	Yes
DMA Account
No	No
MAM Account
No	No
PAMM Account
Yes	Yes
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	Yes
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Auto Trading
Expert Advisors (EAs) on MetaTrader	Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	No
Copy Trading Platform
Clients can follow copy trading signals on the MetaTrader platform. Alternatively, signal providers can generate extra income by selling their positions. You can start copy trading in a few easy steps.	The Copy Trading facility at Instaforex is increasingly popular, due to the clear design and growing list of specialist traders and markets.
Social Trading
No	Yes
Trade Signals
Yes
VPS Hosting
No	Yes
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	€5
Islamic Account
Yes	Yes
Account Currencies
USD EUR GBP JPY CHF	USD EUR GBP PLN CZK
Commodities
Silver Natural Gas Gold Oil	Oil Gold Silver Palladium Natural Gas Copper Gasoline Cocoa Coffee Cotton Soybeans Livestock Wheat Orange Juice Platinum Sugar
CFD
You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget.	You can trade CFDs across a range of diverse markets with flexible account types and leverage up to 1:1000. With access to both MT4 and MT5, traders can execute multiple short-term CFD trading strategies using the dozens of pre-integrated technical indicators and graphical objects.
Leverage
1:1000	1:30 for retail clients, 1:500 for professional
FTSE Spread
70	Fixed
GBPUSD Spread<
0.9	Av. Floating 0.6 pips
Oil Spread
12	Fixed
Stocks Spread
50	0.1%
Forex
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs. Trading takes place on the leading MT4 and MT5 platforms, which offer dozens of in-built technical tools for short-term forex strategies.	InstaForex's range of 100+ currency pairs is among the largest we have seen. ECN spreads are also available from 0.0 pips with zero commissions. Minimum deposits start from $1 making the broker accessible for beginners. You can also access market-leading forex analysis and insights.
Assets
40	1000+
GBPUSD Spread
0.9	0.6
EURUSD Spread
0.4	0.2
EURGBP Spread
0.9	0.5
Currency Indices
	USD
Cryptocurrency
xChief’s range of 5 cryptocurrencies paired with USD is smaller than most competitors. In addition, the average BTCUSD spread of 30 pips is not the cheapest. That said, the broker does offer some useful crypto trading guides for beginners.	There's a range of 10+ crypto tokens against USD, with 0.1% fees and 1:5 leverage. You can also trade the Bitcoin token with spreads around 25, which is in line with similar brokers.
Spread
Variable	0.1%
Coins
BTC BCH ETH LTC XRP	BCH BTC ETH LTC XRP and50+more
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
ForexChief	InstaForex
Review	Review
	All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage. You should not engage in trading these instruments unless you fully understand the nature of the transactions you are entering into, and the true extent of your exposure. These types of investments may be suitable for some investors, but they are not for everyone.
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