Libertex vs ForexChief
Libertex or ForexChief – which is better for UK traders 2024? Compare Libertex and ForexChief in this detailed breakdown of their platforms, features and fees.
| Libertex | ForexChief |
|---|---|
 |
 |
|
|
| Libertex is ranked #91 among CFD brokers. | ForexChief is ranked #49 among CFD brokers. |
|
Libertex has closed or no longer accepts UK clients.
Libertex is a well-known broker, established in 2012. The regulated brand has served numerous clients and is regulated by the Cyprus Securities and Exchange Commission with license number 164/12. Libertex offers CFD trading on 250+ underlying assets, including through an innovative and user-friendly proprietary web trader platform. Choose between CFDs on forex, cryptocurrencies, commodities, stocks, indices and ETFs, which are available with tight spreads and low commissions. |
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. |
| 78% of retail investor accounts lose money when trading CFDs with this provider. | |
| Pros | |
|
|
| Cons | |
|
|
| Awards | |
|
|
| FCA Regulated | |
| No | No |
| Instruments | |
| CFDs on Forex, Cryptocurrencies, Metals, Indices, Stocks, Oil & Gas, Agriculture, ETFs | CFDs, Forex, Metals, Commodities, Stocks, Indices |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| €100 | $10 |
| Payment Methods | |
| Minimum Trade | |
| €20 | 0.01 Lots |
| Regulator | |
| CySEC | ASIC |
| Mobile Apps | |
| iOS, Android + Browser | iOS & Android |
| Trading App | |
Libertex offers an iOS and Android-compatible mobile app with advanced features and trading tools. Users can make deposits, execute positions and analyze the markets in a few swipes. Traders can also flick between live and demo mode with one tap. |
|
| iOS App Rating | |
|
|
|
| Android App Rating | |
|
|
|
| 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 | |
| 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 | |
| Yes | No |
| Market Maker | |
| Yes | 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 |
| Inactivity Fee | |
| Yes - if the client is inactive for 180 calendar day. Applies to clients with a total account balance less than 5000 euros (4500 GBP, 5300 CHF, 22500 PLN respectively) | |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
|
|
| Commodities | |
|
|
| CFD | |
| Libertex's list of CFDs covers a decent range of tradeable underlying assets, but there isn't much depth with only around 250 in total. Leverage up to 1:30 for retail clients is available in accordance with CySEC regulations, and traders can choose between three excellent trading platforms. Best of all are the tight spreads available on all markets and the zero commissions on investments in stocks. | 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 | |
| Up to 1:30 (Retail) | 1:1000 |
| FTSE Spread | |
| Variable | 70 |
| GBPUSD Spread< | |
| Variable | 0.9 |
| Oil Spread | |
| Variable | 12 |
| Stocks Spread | |
| Variable | 50 |
| Forex | |
| Libertex offers CFD trading on 50+ forex pairs, offering long and short opportunities. Its strength comes in its tight spreads – we were offered 0.2 pips for EUR/USD. | 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 | |
| 50+ | 40 |
| GBPUSD Spread | |
| From 0.2 | 0.9 |
| EURUSD Spread | |
| From 0.2 | 0.4 |
| EURGBP Spread | |
| From 0.2 | 0.9 |
| Currency Indices | |
|
|
| Cryptocurrency | |
| With 70+ cryptocurrencies available to trade via CFDs with tight spreads, low commissions and overnight swap fees, Libertex is a great option for crypto CFD traders. The list of crypto CFDs includes the usual major players like Bitcoin and a good variety of lesser-known cryptos such as Tezos. | 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 | |
|
|
| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Libertex | ForexChief |
| 78% of retail investor accounts lose money when trading CFDs with this provider. | |
| More Comparisons | |
|
Libertex vs |
ForexChief vs |