XChief Broker Review- Is it Regulated?

XChief Overviews

xChief is a forex and CFD broker established in 2014, offering a range of account types with leverage up to 1:1000 and a minimum deposit starting from $10.

Pros and Cons

Is XChief Safe? Broker Regulations

Regulatory Overview

xChief operates under the regulation of the Mwali International Services Authority (MISA) in the Comoros, holding license number T2023379. Additionally, xChief Pty Ltd is authorized by the Australian Securities and Investments Commission (ASIC) as a Corporate Authorized Representative, AFSR no. 001312104, for wholesale clients in Australia. However, it’s important to note that xChief Pty Ltd is not a product issuer of over-the-counter (OTC) derivatives and does not transact with clients as principal.

Security Measures

xChief implements standard security protocols to protect client information, including data encryption and two-factor authentication. However, the broker does not explicitly mention offering negative balance protection or detailed information on fund segregation and compensation schemes. This may be a consideration for potential clients seeking brokers with higher levels of regulatory oversight and investor protection.

While xChief is regulated by MISA and holds an ASIC license for wholesale clients in Australia, the regulatory environment may not provide the same level of investor protection as brokers regulated by major financial authorities. Traders should carefully consider these factors and conduct thorough research before engaging with xChief.

How to Trade with XChief?

Trade Assets

xChief offers a comprehensive range of financial instruments, catering to various trading preferences and strategies. Traders can access these instruments through both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the xChief mobile application.

Forex (Currency Pairs)

xChief provides access to a wide array of currency pairs, including:

• Major Pairs: EUR/USD, GBP/USD, USD/JPY, etc.

• Minor Pairs: EUR/GBP, EUR/AUD, GBP/JPY, etc.

• Exotic Pairs: USD/TRY, USD/ZAR, EUR/TRY, etc.

These pairs are available across all account types, with spreads starting from 0.3 pips on the Direct FX and xPrime accounts.

CFDs (Contracts for Difference)

Traders can engage in CFD trading on various assets, including:

• Stock CFDs: Shares of major global companies.

• Commodity CFDs: Precious metals like gold and silver.

• Index CFDs: Major stock indices such as the S&P 500, NASDAQ, and DAX.

• Cryptocurrency CFDs: Digital currencies like Bitcoin, Ethereum, and Litecoin.

These instruments are accessible on both MT4 and MT5 platforms, allowing traders to speculate on price movements without owning the underlying assets.

Commodities

xChief offers trading in various commodities, including:

• Energy Commodities: Crude oil (WTI and Brent), natural gas.

• Agricultural Commodities: Coffee, sugar, wheat, corn.

These commodities are available for trading through CFDs, providing flexibility and leverage to traders.

Cryptocurrencies

xChief provides access to cryptocurrency trading, allowing traders to speculate on digital currencies such as:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Ripple (XRP)

These cryptocurrencies are available for trading through CFDs, enabling traders to take advantage of price fluctuations without the need to own the actual digital assets.

How to Trade with xChief: A Step-by-Step Guide

Trading with xChief involves several key steps, from account creation to executing your first trade. Below is a comprehensive guide to help you navigate the trading process.

1. Account Registration

Begin by visiting the xChief registration page. The process is straightforward and typically takes under 5 minutes.

Steps:

• Fill in Personal Details: Provide your full name, email address, phone number, and country of residence.

• Create Account Credentials: Set a secure password for your account.

• Email Verification: Check your inbox for a verification code and enter it to confirm your email address.

• Select Account Type: Choose from available account types such as Cent, Classic+, DirectFX, or xPRIME.

• Choose Trading Platform: Select between MetaTrader 4 (MT4) or MetaTrader 5 (MT5).

• Set Leverage and Currency: Decide on your preferred leverage and account currency.

Upon completion, you’ll gain access to your personal dashboard.

2. Account Funding

To start trading, you’ll need to deposit funds into your xChief account. xChief supports various payment methods, including:

• Bank Transfers: Traditional bank wire transfers.

• Credit/Debit Cards: Visa and MasterCard.

• E-Wallets: Neteller, Skrill, Perfect Money.

• Cryptocurrencies: Bitcoin, Ethereum, Litecoin.

Processing times vary depending on the method:

• Deposits: Instant for most methods.

• Withdrawals: Typically processed within 24 hours.

It’s advisable to check the specific terms and conditions on the xChief website for each payment method.

3. Platform Installation

Once your account is funded, download and install the trading platform:

• MetaTrader 4 or 5: Available for Windows, Mac, Android, and iOS devices.

• xChief Mobile App: Designed for trading on the go.

After installation, log in using the credentials provided during registration.

4. Market Analysis and Strategy Development

Before placing trades, it’s essential to conduct thorough market analysis:

• Technical Analysis: Utilize charts, indicators, and patterns to forecast market movements.

• Fundamental Analysis: Stay informed about economic events and news that may impact the markets.

• Develop a Trading Plan: Establish clear entry and exit points, risk management rules, and profit targets.

xChief provides educational resources and tools to assist in your analysis.

5. Placing Your First Trade

With your analysis in hand, you’re ready to execute a trade:

• Select an Instrument: Choose the asset you wish to trade (e.g., EUR/USD, Gold, Bitcoin).

• Open a New Order: Click on ‘New Order’ in your trading platform.

• Set Order Parameters:

  • Volume: Specify the trade size.

  • Stop Loss: Determine the maximum loss you’re willing to accept.

  • Take Profit: Set your desired profit level.

  • Order Type: Choose between Market Execution or Pending Order.

• Execute the Trade: Click ‘Buy’ or ‘Sell’ to open your position.

Monitor your trade regularly and adjust your strategy as needed.

6. Risk Management

Effective risk management is crucial for long-term success:

• Use Stop Loss and Take Profit: Always set these to protect your capital.

• Risk Only a Small Percentage: Limit each trade’s risk to a small percentage of your total capital.

• Diversify Your Portfolio: Avoid putting all your funds into a single trade or asset.

• Regularly Review Performance: Analyze your trades to identify areas for improvement.

xChief offers tools and resources to assist in managing risk effectively.

7. Utilizing Additional Features

xChief provides several advanced features to enhance your trading experience:

• Copy Trading: Automatically copy the trades of successful traders.

• PAMM Accounts: Invest in managed accounts for potential returns.

• Trading Credits: Utilize credits to increase your trading volume.

• Demo Accounts: Practice trading without risking real money.

These features can be accessed through your personal dashboard.

How Can I Open XChief Account? A Simple Tutorial

1. Visit the xChief Website
   Go to xChief’s registration page.

2. Fill in Personal Information
   Provide your full name, email address, phone number, and country of residence.

3. Create a Secure Password
   Set a password for your account that includes a combination of letters, numbers, and special characters.

4. Verify Your Email Address
   Check your inbox for a verification email. Click the confirmation link to activate your account.

5. Choose an Account Type
   Select the account type that suits your trading needs: Cent, Classic+, DirectFX, or xPRIME.

6. Complete KYC (Know Your Customer) Process
   Upload identification documents such as a passport, national ID, or utility bill to verify your identity.

7. Fund Your Account
   Choose your preferred deposit method and fund your account. Options include bank transfers, credit/debit cards, e-wallets, and cryptocurrencies.

8. Start Trading
   Once your account is funded, you can start trading using either MetaTrader 4, MetaTrader 5, or the xChief Mobile App.

XChief Charts and Analysis

xChief offers a range of charting tools and analytical resources to assist traders with their technical and fundamental analysis. Whether you’re a beginner or an experienced trader, these tools provide the necessary insights to make informed trading decisions.

Key Features:

1. Advanced Charting Tools
   xChief’s trading platforms (MT4 and MT5) feature interactive charts that offer multiple timeframes and chart types. Traders can easily analyze price movements and identify trends.

2. Technical Indicators
   xChief provides a wide variety of technical indicators to assist in your analysis, including moving averages, RSI, MACD, Bollinger Bands, and more.

3. Multiple Timeframes
   Charts are available in various timeframes, ranging from one minute to monthly charts, allowing traders to adapt their strategies for both short-term and long-term trading.

4. Drawing Tools
   The platform includes several drawing tools such as trendlines, Fibonacci retracements, and channels to help traders visualize patterns and key support/resistance levels.

5. Economic Calendar
   Stay up to date with major economic events that might impact the markets. The economic calendar is integrated into the platform, providing real-time news and event forecasts.

6. Market News and Analysis
   xChief provides access to the latest market news and analysis, keeping traders informed of market-moving events, economic reports, and geopolitical developments.

7. Customizable Layout
   Traders can personalize their chart layout, adding or removing tools to match their individual trading styles.

These charting and analysis tools are designed to suit various trading strategies, helping both beginner and advanced traders perform in-depth market analysis and enhance their decision-making process.

XChief Account Types

Do I Have Negative Balance Protection with This Broker?

Yes, xChief offers negative balance protection to its clients. This means that if your trading account balance falls below zero due to market volatility or other factors, you will not be liable for the negative balance. The broker will reset your account balance to zero, ensuring that you do not owe more than your initial deposit.

Segregation of Client Funds

xChief prioritizes the safety of client funds by implementing strict segregation practices. Client funds are kept in separate bank accounts, distinct from the company’s operational funds. This segregation is not only a regulatory requirement but also a safeguard against potential broker insolvency. Additionally, xChief does not transfer client funds to liquidity providers’ accounts; instead, it uses its own funds to fulfill margin requirements when executing client orders.

Investor Compensation Scheme

xChief is licensed by the Mwali International Services Authority (MISA) in the Comoros and the Australian Securities and Investments Commission (ASIC). However, it’s important to note that xChief does not participate in any investor compensation schemes. This means that in the unlikely event of the broker’s insolvency, clients may not have access to compensation for their losses. This lack of participation in compensation schemes is a significant consideration for potential clients.

In conclusion, while xChief offers negative balance protection and ensures the segregation of client funds, it does not participate in investor compensation schemes. Traders should weigh these factors carefully when considering xChief as a trading platform.

XChief Deposits and Withdrawals

xChief offers a range of deposit and withdrawal methods to accommodate traders globally. These methods are designed to facilitate seamless transactions, ensuring that traders can fund their accounts and withdraw profits efficiently.

Deposit Methods

xChief supports various deposit options, including:

• Bank Wire Transfers: Traditional bank transfers are accepted, allowing for secure and direct deposits.

• Credit/Debit Cards: Visa and MasterCard are commonly used for quick and convenient deposits.

• E-Wallets: Platforms like Neteller, Skrill, and Perfect Money are supported, offering fast and secure transactions.

• Cryptocurrency: Deposits in Bitcoin, Ethereum, and Litecoin are accepted, catering to traders who prefer digital currencies.

The minimum deposit amount varies depending on the account type:

• Cent Account: $1

• Classic+ Account: $10

• DirectFX and xPRIME Accounts: $50

Deposits are typically processed instantly, especially when using e-wallets or cryptocurrencies. Bank transfers may take longer, depending on the financial institutions involved.

Withdrawal Methods

For withdrawals, xChief offers:

• Bank Wire Transfers: Withdrawals can be made directly to your bank account.

• Credit/Debit Cards: Funds can be returned to the card used for deposit.

• E-Wallets: Withdrawals to platforms like Neteller, Skrill, and Perfect Money are available.

• Cryptocurrency: Withdrawals can be processed to your digital wallet.

The withdrawal process involves several steps:

1. Request Submission: Initiate a withdrawal request through your personal area on the xChief platform.

2. Verification: Ensure that your account is verified.

3. Processing Time: Requests are processed within 2 working days.

4. Transfer Time: The time it takes for the funds to reach your account depends on the chosen withdrawal method.

Please note that withdrawals are only processed to the payment method used for the initial deposit.

Fees and Charges

xChief does not charge fees for deposits. However, withdrawal fees may apply depending on the payment method and the amount being withdrawn. It’s important to check the specific terms and conditions related to fees on the xChief website or contact customer support for detailed information.

Security Measures

To ensure the safety of your funds:

• Two-Factor Authentication (2FA): Enhances account security during transactions.

• Encryption: All financial transactions are encrypted to protect your personal and financial information.

• Segregation of Funds: Client funds are kept separate from company funds, ensuring that your money is protected.

By offering a variety of deposit and withdrawal methods, along with robust security measures, xChief aims to provide a seamless and secure trading experience for its clients.

If you have further questions or need assistance with deposits or withdrawals, feel free to ask!

Support Service for Customer

xChief offers comprehensive customer support to ensure traders receive timely assistance across various channels.

Contact Methods

xChief provides multiple avenues for traders to reach out:

• Live Chat: Accessible directly on the xChief website for real-time assistance.

• Email:

  • General Inquiries: info@xchief.com

  • Marketing: marketing@xchief.com

  • Partnerships: partnership@xchief.com

• Phone:

  • Singapore: +65 3159 3652

  • Nigeria: +234 802 625 4508

  • Australia: +61 8093 6512

  • UAE: +971 3159 3652

• Messaging Apps:

  • WhatsApp

  • Telegram

  • WeChat

  • Viber

  • Facebook Messenger

  • Instagram Direct

  • Skype

• Support Ticket System: Available through the client dashboard for detailed issue tracking.

Availability

Customer support is available 24/7, ensuring assistance is accessible at any time. Support hours may vary slightly depending on the office location.

Multilingual Support

xChief caters to a global clientele by offering support in multiple languages, including:

• English

• Spanish

• Portuguese

• Russian

• Chinese

• Indonesian

• Arabic

• Hindi

• Bengali

• Urdu

• Farsi

• French

• Italian

• Turkish

• Vietnamese

This multilingual support ensures that traders from diverse linguistic backgrounds can receive assistance in their preferred language.

Office Locations

xChief operates from several international offices:

• Vanuatu: Headquarters located at 1276 Kumul Hwy, Port Vila.

• Singapore: 2 Venture Dr, #24-01 Vision Exchange

• Nigeria: Offices in Ibadan and Abuja.

• Australia: Floor 21, 60 Margaret Street, Sydney.

• UAE: Suit 32-10, ParkLane Tower, Business Bay, Dubai.

These offices operate during local business hours and provide additional support to clients in their respective regions.

Whether you’re a novice trader or an experienced professional, xChief’s robust customer support infrastructure is designed to assist you promptly and effectively.

Prohibited Countries: Where Can I Not Trade with this Broker?

xChief, like many international brokers, adheres to global financial regulations and sanctions that restrict services in certain jurisdictions. These restrictions are primarily due to compliance with international laws, including those imposed by the United Nations, the European Union, and the United States, aimed at preventing money laundering, terrorism financing, and other illicit activities.

🌍 Countries Where xChief Services Are Restricted

As of June 2025, xChief does not accept clients from the following countries and regions:

• Cuba

• Iran

• North Korea

• Syria

• Venezuela

• Afghanistan

• Belarus

• Myanmar (Burma)

• Russia

• Sudan

• South Sudan

• Zimbabwe

• Crimea, Donetsk, and Luhansk regions of Ukraine

These restrictions are in place to comply with various international sanctions and embargoes. For instance, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) maintains comprehensive sanctions against countries like Cuba, Iran, North Korea, and Syria, prohibiting most transactions involving these nations .

⚠️ Additional Considerations

• Islamic Accounts: xChief offers swap-free (Islamic) accounts; however, these are available only to Muslim clients from countries where Islam is the state or predominant religion. This service is not available for clients from all restricted countries .

• Promotions: Certain promotions, such as the $100 No-Deposit Bonus, are not available in specific countries, including Angola, Bangladesh, Benin, Botswana, Cameroon, Côte d’Ivoire, Congo, Cuba, El Salvador, Ethiopia, Ghana, Honduras, Kenya, Madagascar, Malaysia, Mozambique, Namibia, Nigeria, Nicaragua, Pakistan, South Africa, Somalia, Sri Lanka, Swaziland, Togo, Zambia, Zimbabwe, and Venezuela.

Advice for Potential Clients

If you reside in a country not listed above, you may be eligible to open an account with xChief. However, it’s essential to conduct your own due diligence and ensure compliance with your local laws and regulations before proceeding. Additionally, xChief may require Know Your Customer (KYC) verification, which involves providing identification documents and proof of address.

Special Offers for Customers

Special Offers for Traders at xChief

xChief enhances the trading experience with a variety of promotions and bonuses tailored to both new and experienced traders. These offers are designed to boost your trading capital, provide risk protection, and reward active participation.

No-Deposit Bonus – $100

• Eligibility: Available for MT4.DirectFX and MT4.Classic+ accounts.

• Activation: Automatically credited upon successful account verification via the xChief mobile app.

• Conditions:

  • Trading Turnover: Complete 30 lots of specified currency pairs (e.g., EURUSD, GBPUSD, XAUUSD).

  • Withdrawal: Profit can be withdrawn after meeting turnover requirements; the bonus itself is not withdrawable.

  • Restrictions: Not available in certain countries; refer to xChief’s official site for a full list.

Welcome Bonus – Up to $500

• Eligibility: Available for Classic+, DirectFX, and xPRIME accounts.

• Bonus Amount: 100% match of your initial deposit, up to $500.

• Activation: Claimed during the first deposit of at least $50 by selecting the “Enroll Welcome Bonus” option.

• Conditions:

  • Trading Turnover: Required turnover is 50,000 times the bonus amount in USD (e.g., a $200 bonus requires a $10,000,000 turnover).

  • Withdrawal: Profits can be withdrawn at any time; the bonus is withdrawable after meeting turnover requirements.

  • Usage: Permits all trading strategies, including scalping and the use of Expert Advisors (EAs).

GOLD WHALE Contest – $5,000 Prize Fund

• Eligibility: Open to new MT4.DirectFX or MT4.Classic+ accounts.

• Participation:

  • Account Requirements: No prior trading history; no active bonuses (e.g., No-Deposit Bonus, Welcome Bonus).

  • Minimum Deposit: At least $100.

• Contest Details:

  • Prize Distribution:

    • 1st place: $1,000

    • 2nd place: $750

    • 3rd place: $500

    • 4th–10th place: $250 each

    • 11th–20th place: $100 each

  • Trading Requirements: Minimum of 10 trades during the contest period.

  • Prize Withdrawal: Winnings can be withdrawn immediately without restrictions.

$1,000 for New PAMM Funds

• Eligibility: Experienced traders with a proven track record.

• Activation:

  • Fund Creation: Establish a new public PAMM fund with a manager’s remuneration rate of up to 20%.

  • Fund Activation: Verify personal data and add at least $100 to the fund.

• Bonus Application:

  • Request Submission: After fund activation, submit a request with proof of successful trading experience (e.g., trading statements).

  • Approval: Upon verification, $1,000 is added to your fund from a real investor.

  • Investor Conditions: The investor may withdraw their investment at any time; maintaining a profitable strategy is essential to retain the investment.

Insurance – 30% of Deposit

• Eligibility: Available to all xChief clients.

• Coverage: Provides compensation for up to 30% of the deposit amount in case of trading losses.

• Activation: Automatically applied to eligible accounts.

• Conditions:

  • Claim Process: Contact xChief support to initiate a claim.

  • Usage: Funds can be used for trading or withdrawn, subject to xChief’s terms and conditions.

Special Trader Package V9

• Eligibility: Designed for VIP clients seeking enhanced trading tools.

• Features:

  • Personal Manager: Dedicated support for account management.

  • Personal Analytics: Tailored market analysis to inform trading decisions.

  • Free VPS: Access to a Virtual Private Server for uninterrupted trading.

  • Complimentary Expert Advisors: Automated trading tools to assist in strategy execution.

  • Investment Support: Up to 30% support for investments.

  • Priority Withdrawals: Expedited processing of withdrawal requests.

XChief Review Conclusion

xChief, formerly known as ForexChief, is a forex and CFD broker established in 2014 and headquartered in Fomboni, Comoros. Operating under the Mwali International Services Authority (MISA), xChief offers a range of trading instruments, including forex, metals, commodities, indices, stocks, and cryptocurrencies. The broker provides access to popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a proprietary mobile app.

Summary and Key Takeaways

xChief stands out as a reputable broker offering a user-friendly platform, a wide range of account types, and attractive bonuses. While it has some areas that could benefit from improvement, such as regulatory oversight and educational resources, it remains a solid choice for traders looking for a reliable and accessible trading experience. Its comprehensive customer support and advanced trading tools further enhance its appeal.

FAQs

About Author

Beatrice Quinn

Beatrice Quinn Kingsley, a finance graduate from the London School of Economics, dove into finance clubs during her studies, honing her skills in portfolio management and risk analysis. With a career spanning prestigious firms like Barclays and HSBC, she's become an authority in asset allocation and investment strategy, known for her insightful reports. Beyond her corporate success, Beatrice is an advocate for financial literacy, actively engaging in workshops, seminars, and writing on topics like personal finance and investing. Recognized in the field, she's a featured voice in publications and a sought-after consultant, combining her financial know-how and communication prowess to empower ...

Read more ...