Compare ForexChief vs N1CM
What is ForexChief? What is N1CM?
ForexChief is a reliable online forex broker that offers trading on forex, metals, commodities, indices, stock and cryptocurrency CFDs. It provides competitive spreads, leverage up to 1:1000, various promotions and bonuses, and a choice of MetaTrader 4 or MetaTrader 5 platforms. It is licensed by VFSC as a dealer in securities and a member of FMA.
N1CM is a regulated global forex and CFD broker that offers trading on forex, metals, commodities, indices, stock and cryptocurrency CFDs. It provides low spreads from 0.1 pips, leverage up to 1:1000, negative balance protection, crypto as a funding method, and a partnership with Autochartist for technical analysis tools. It is licensed and regulated by VFSC as a dealer in securities.
ForexChief vs N1CM Regulation Comparison
| Broker | Regulator | License Number |
|---|---|---|
| ForexChief | VFSC | 14777 |
| N1CM | VFSC | 15008 |
ForexChief vs N1CM Trading Assets Comparison
| Asset Class | ForexChief | N1CM |
|---|---|---|
| Forex | 50+ pairs | 50+ pairs |
| Metals | Gold, Silver & more | Gold & Silver |
| Commodities | Gold, Oil & more | Gold, Oil & more |
| Indices | 10 global indices | 10 global indices |
| Stock | Global companies’ shares | Global companies’ shares |
| Cryptocurrency | Bitcoin, Litecoin, Ripple & more | Bitcoin, Litecoin, Ripple & more |
ForexChief vs N1CM Trading Fees Comparison
| Fee Type | ForexChief | N1CM |
|---|---|---|
| Minimum Deposit | $50-$100 depending on account type | $10-$100 depending on account type |
| Maximum Leverage | 1:1000 for all account types except MT5.DirectFX (1:400) | 1:1000 for all account types except ECN (1:500) |
| Commission Fee | $15 per USD 1 million for MT4.DirectFX and MT5.DirectFX accounts; $3 per lot for Cent accounts; none for Classic accounts | $6 per lot for ECN accounts; none for Standard accounts |
| Swap Rate | Variable depending on instrument; can be positive or negative; swap-free option available for Islamic accounts | Variable depending on instrument; can be positive or negative; swap-free option available for Islamic accounts |
ForexChief vs N1CM Account Types Comparison
| Account Type | ForexChief | N1CM |
|---|---|---|
| Standard Account | Classic account with MT4 or MT5 platform; minimum deposit $50; leverage up to 1:1000; spreads from 0.3 pips; no commission fee; swap rate applicable; minimum lot size 0.01; maximum lot size 1000 | Standard account with MT4 platform; minimum deposit $10; leverage up to 1:1000; spreads from 1.3 pips; no commission fee; swap rate applicable; minimum lot size 0.01; maximum lot size 100 |
| ECN Account | MT4.DirectFX or MT5.DirectFX account with MT4 or MT5 platform; minimum deposit $100; leverage up to 1:1000 (MT4) or 1:400 (MT5); spreads from 0 pips; commission fee $15 per USD 1 million; swap rate applicable; minimum lot size 0.01; maximum lot size 1000 | ECN account with MT4 platform; minimum deposit $100; leverage up to 1:500; spreads from 0.1 pips; commission fee $6 per lot; swap rate applicable; minimum lot size 0.01; maximum lot size 100 |
| Cent Account | Cent account with MT4 platform; minimum deposit $50; leverage up to 1:1000; spreads from 0.1 pips; commission fee $3 per lot; swap rate applicable; minimum lot size 0.01 (equivalent to 0.0001 standard lot); maximum lot size 1000 (equivalent to 10 standard lots) | N/A |
| Islamic Account | Swap-free option available for all account types except Cent account; no swap charges or rollover interest; same conditions as regular accounts | Swap-free option available for all account types except ECN account; no swap charges or rollover interest; same conditions as regular accounts |
ForexChief vs N1CM Deposit Options Comparison
| Method | ForexChief | N1CM |
|---|---|---|
| Bank Wire Transfer | Minimum amount $50; maximum amount unlimited; processing time 2-5 business days | Minimum amount $50; maximum amount unlimited; processing time 2-5 business days |
| Credit/Debit Cards | Minimum amount $10; maximum amount $5000 per transaction and $20000 per month; processing time instant | Minimum amount $10; maximum amount $5000 per transaction and $20000 per month; processing time instant |
| E-Wallets | Skrill, Neteller, Perfect Money, WebMoney, FasaPay, QIWI Wallet, Yandex Money, Payeer, AdvCash, Epayments, Jeton Wallet, NganLuong.vn, Paytrust88, Help2Pay, DragonPay.ph, PayRetailers, PayTM India available; minimum amount $10-$50 depending on method; maximum amount $5000-$20000 depending on method; processing time instant or within a few hours | Skrill, Neteller, Perfect Money, WebMoney, FasaPay available; minimum amount $10-$50 depending on method; maximum amount $5000-$20000 depending on method; processing time instant or within a few hours |
| Cryptocurrencies | Bitcoin, Ethereum, Tether, Litecoin available; minimum amount equivalent to $10-$50 depending on currency; maximum amount equivalent to $5000-$20000 depending on currency; processing time within a few hours or after confirmation on blockchain network | Bitcoin, Ethereum, Tether, Litecoin available; minimum amount equivalent to $10-$50 depending on currency; maximum amount equivalent to $5000-$20000 depending on currency; processing time within a few hours or after confirmation on blockchain network |
ForexChief vs N1CM Trading Platforms Comparison
| Platform | ForexChief | N1CM |
|---|---|---|
| MetaTrader 4 | Available for Classic, Cent and MT4.DirectFX accounts on Windows, Mac OS, Android and iOS devices | Available for Standard and ECN accounts on Windows, Mac OS, Android and iOS devices |
| MetaTrader 5 | Available for Classic and MT5.DirectFX accounts on Windows, Mac OS, Android and iOS devices | N/A |
ForexChief vs N1CM Analytical Tools Comparison
Both ForexChief and N1CM offer various analytical tools for their clients to enhance their trading performance and decision making. These include:
- Technical analysis tools: Both brokers provide a wide range of technical indicators, charting tools, trading signals, expert advisors and scripts on their MetaTrader 4 and MetaTrader 5 platforms. These tools help traders to identify trends, patterns, entry and exit points, and automate their trading strategies. ForexChief also offers a VPS server for robots, which allows traders to run their expert advisors 24/7 without interruptions.
- Fundamental analysis tools: Both brokers provide economic and financial news inside their trading platforms, which help traders to stay updated on the market events and sentiments that may affect their trading instruments. ForexChief also offers a library of economic articles, currency charts and interest rates on its website, which provide more insights and information for traders.
- Autochartist: N1CM has partnered with Autochartist, a leading provider of automated technical analysis tools, to offer its clients unlimited access to its services for free. Autochartist scans the market for trading opportunities based on chart patterns, Fibonacci patterns, key levels and volatility analysis. It also provides quality indicators, performance statistics, market reports and risk calculators. Autochartist is available as a web application, a desktop application or a plugin for MetaTrader 4.
ForexChief vs N1CM. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading goals, risk appetite and budget. However, here are some possible advantages and disadvantages of each broker that you may consider:
ForexChief advantages:
- It offers a wider range of trading assets, including more metals and cryptocurrencies
- It offers a cent account for traders who want to trade with micro lots and low minimum deposit
- It offers a choice of MetaTrader 4 or MetaTrader 5 platforms for all account types except the cent account
- It offers a VPS server for robots for traders who want to run their expert advisors 24/7
- It offers a library of economic articles, currency charts and interest rates on its website
ForexChief disadvantages:
- It is not regulated by any other major authority besides VFSC
- It charges a higher commission fee for its ECN accounts ($15 per USD 1 million) than N1CM ($6 per lot)
- It does not offer Autochartist as an analytical tool
N1CM advantages:
- It charges a lower commission fee for its ECN accounts ($6 per lot) than ForexChief ($15 per USD 1 million)
- It offers Autochartist as an analytical tool for free to its clients
- It offers crypto as a funding method
N1CM disadvantages:
- It offers a narrower range of trading assets, including fewer metals and cryptocurrencies
- It does not offer a cent account for traders who want to trade with micro lots and low minimum deposit
- It only offers MetaTrader 4 platform for its account types
- It does not offer a VPS server for robots for traders who want to run their expert advisors 24/7
- It does not offer a library of economic articles, currency charts and interest rates on its website
Ultimately, the best way to decide which broker is better for you is to try them out yourself by opening a demo account or a live account with a small amount of money and compare their services, features and performance. You can also read online reviews and feedback from other traders who have used these brokers before.
