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KLMFX vs ForexChief

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

KLMFX vs ForexChief Comparison Table 2024
KLMFX	ForexChief

0.8	3.9
KLMFX is ranked #91 among CFD brokers.	ForexChief is ranked #49 among CFD brokers.
Review	Review
KLMFX offers traditional assets and markets on the MetaTrader 5 platform.	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
	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
	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
Awards
Best Broker for Experience and Technology 2015 Best Broker for Customer Service 2015 Best Broker for Analysis and Reports 2014
FCA Regulated
No List of FCA Regulated Brokers	No List of FCA Regulated Brokers
Instruments
Forex, stocks, indices, commodities	CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account
Yes	Yes
Minimum Deposit
$250	$10
Payment Methods
Credit Cards Neteller Skrill Visa	ADVcash Credit Cards Debit Card FasaPay Neteller Perfect Money Skrill WebMoney Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
	ASIC
Mobile Apps
Yes	iOS & Android
iOS App Rating

Android App Rating

Margin Trading
No	Yes
Margin Rate
	0.1%
MetaTrader 4
No	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
No	Yes
ECN Account
No	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
Yes	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	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 GBP JPY CHF
Commodities
Gold Silver	Silver Natural Gas Gold Oil
CFD
CFD products with 1:800 leverage is offered.	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
1:800	1:1000
FTSE Spread
1.2	70
GBPUSD Spread<
2.4	0.9
Oil Spread
0.3	12
Stocks Spread
Variable	50
Forex
KLMFX offers online currency trading on majors, minors and exotics.	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
44	40
GBPUSD Spread
2.4	0.9
EURUSD Spread
1.5	0.4
EURGBP Spread
2.5	0.9
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.
Spread
	Variable
Coins
	BTC BCH ETH LTC XRP
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

KLMFX	ForexChief
Review	Review
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