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FXCL vs ForexChief

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

FXCL vs ForexChief Comparison Table 2024
FXCL	ForexChief

1.8	3.9
FXCL is ranked #91 among CFD brokers.	ForexChief is ranked #49 among CFD brokers.
Review	Review
FXCL is an offshore brokerage registered with the VFSC. The firm uses ECN execution to offer spreads from 0.0 pips. There are no deposit or withdrawal fees and access to reliable trading tools, including MetaTrader 4. Several promotions are also available including demo contests with cash prizes and deposit bonuses.	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.
Pros
Regular trading contents with cash prizes, referral schemes and incentives for new and existing traders Integrated MT4 web platform and mobile app with analysis tools and custom charting Loss-free trading insurance for account balances of $500+ Multiple account options including a Cent solution for beginners Copy trading service for a hands-off investment approach Very high leverage up to 1:2000 Fast deposits and withdrawals	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
Cons
Higher than average fees with spreads above 1 pip on forex during tests Deposit and withdrawal fees apply if minimums are not met Very basic education and market research that trails the best brokers Low trust score with weak regulation US traders not accepted	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
FCA Regulated
No List of FCA Regulated Brokers	No List of FCA Regulated Brokers
Instruments
CFDs, Forex, Cryptos, Commodities	CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account
Yes	Yes
Minimum Deposit
$1	$10
Payment Methods
	ADVcash Credit Cards Debit Card FasaPay Neteller Perfect Money Skrill WebMoney Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
SVG FSA	ASIC
Mobile Apps
iOS & Android	iOS & Android
iOS App Rating

Android App Rating

Margin Trading
Yes	Yes
Margin Rate
	0.1%
MetaTrader 4
Yes	Yes
MetaTrader 5
No	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
No	Yes
ECN Account
Yes	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	Yes
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	Yes
Auto Trading
	Expert Advisors (EAs) on MetaTrader
Copy Trading
No	Yes
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.
Social Trading
No	No
Trade Signals
	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
Yes	Yes
Account Currencies
USD EUR MYR NGN	USD EUR GBP JPY CHF
Commodities
Oil Silver Natural Gas	Silver Natural Gas Gold Oil
CFD
FXCL offers 100+ contracts for difference spanning forex, indices and crypto. Traders get 24/5 customer support alongside fast execution speeds and a low minimum deposit of $1.	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.
Leverage
1:2000	1:1000
FTSE Spread
130	70
GBPUSD Spread<
0.4	0.9
Oil Spread
5	12
Stocks Spread
N/A	50
Forex
FXCL clients can trade more than 40 major, minor and exotic currency pairs with regular and ECN execution models on the MT4 platform. Spreads on currencies start from 0.1 pips.	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.
Assets
43	40
GBPUSD Spread
0.4	0.9
EURUSD Spread
0.1	0.4
EURGBP Spread
0.4	0.9
Cryptocurrency
FXCL supports trading on three cryptos (BTC, ETH and LTC), pegged against the US dollar. However, this is a very limited selection that doesn't rival the best crypto brokers.	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.
Spread
Variable	Variable
Coins
BTC LTC ETH	BTC BCH ETH LTC XRP
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

FXCL	ForexChief
Review	Review
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