Compare ForexChief vs FXTM
What is ForexChief? What is FXTM?
ForexChief is a forex broker that was established in 2014 and is regulated by the Ministry of Finance and Economic Management of Vanuatu. ForexChief offers trading on MetaTrader 4 and MetaTrader 5 platforms with variable spreads, high leverage and low minimum deposit. ForexChief also provides various payment methods, including cryptocurrencies, and a bonus program for traders.
FXTM is a forex broker that was established in 2011 and is regulated by multiple authorities, including CySEC, FCA, FSCA and CMA. FXTM offers trading on MetaTrader 4 and MetaTrader 5 platforms with variable spreads, high leverage and low minimum deposit. FXTM also provides various payment methods, including Google Pay, and a range of educational resources, analytical tools and trading contests for traders.
ForexChief vs FXTM Regulation Comparison
| Broker | Regulator | License Number |
|---|---|---|
| ForexChief | Ministry of Finance and Economic Management (Vanuatu) | 14777 |
| ForexChief | FSC (Mauritius) | C113012295 |
| FXTM | CySEC (Cyprus) | 185/12 |
| FXTM | FCA (United Kingdom) | 777911 |
| FXTM | FSCA (South Africa) | 46614 |
| FXTM | Capital Markets Authority of Kenya (Kenya) | 135 |
ForexChief vs FXTM Trading Assets Comparison
Here is a list of the trading assets that ForexChief and FXTM offer:
- Forex: Both brokers offer forex trading
- CFD: Both brokers offer CFD trading
- Indexes: Both brokers offer indexes trading
- Gold & Silver: Both brokers offer gold and silver trading
- Crypto: Both brokers offer crypto trading
- Stocks: ForexChief does not offer stocks trading, while FXTM offers physical stock, ETFs, shares, options, bonds, commodities, indices, agriculture and binary options trading
- Oil: Both brokers offer oil trading
- Metals: Both brokers offer metals trading
- Energies: Both brokers offer energies trading
- Futures: ForexChief does not offer futures trading, while FXTM offers futures trading
ForexChief vs FXTM Trading Fees Comparison
Here is a list of the trading fees that ForexChief and FXTM charge:
- Min Deposit: Both brokers have a minimum deposit of $10
- Max Leverage: ForexChief offers a maximum leverage of up to 1:1000, while FXTM offers a maximum leverage of up to 1:2000
- Spread Type: Both brokers have variable spreads
- Commissions: ForexChief charges commissions of $15 per lot on some accounts, while FXTM charges commissions of $2 per lot on some accounts
ForexChief vs FXTM Account Types Comparison
ForexChief offers four types of accounts: Cent, Classic, Direct and MT5. All accounts have variable spreads, high leverage, no swaps and no minimum deposit. The main differences are in the trading platforms, commissions and execution types.
FXTM offers six types of accounts: Standard, Cent, Shares, ECN, ECN Zero and Pro. All accounts have variable spreads, high leverage, no re-quotes and low minimum deposit. The main differences are in the trading instruments, commissions, execution types and margin call levels.
ForexChief vs FXTM Deposit Options Comparison
ForexChief provides various payment methods for depositing and withdrawing funds, including WebMoney, Skrill, Wire transfer, Credit / debit cards, Neteller, UnionPay, Perfect Money, Local bank transfer, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, AdvCash, Ripple, Tether (USDT), Dogecoin, USD Coin (USDC) and Dai (DAI). ForexChief does not charge any fees for deposits or withdrawals.
FXTM provides various payment methods for depositing and withdrawing funds, including WebMoney, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto and Google Pay. FXTM does not charge any fees for deposits or withdrawals.
ForexChief vs FXTM Trading Platforms Comparison
ForexChief and FXTM both supports trading on MetaTrader 4 and MetaTrader 5 platforms, which are available for desktop, web and mobile devices. ForexChief and FXTM both also offers one-click trading, trailing stop and pending orders features on its platforms.
ForexChief vs FXTM Analytical Tools Comparison
ForexChief does not provide any analytical tools for its clients, except for the ones built-in in the MetaTrader platforms.
FXTM provides a range of analytical tools for its clients, such as market news, economic calendar, trading signals, market analysis, webinars and seminars. FXTM also has a dedicated team of experts who provide daily commentary and insights on the market trends.
ForexChief vs FXTM. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer as to which forex broker is better, as different brokers may suit different traders’ needs, preferences and goals. However, here are some possible factors you can consider when choosing between ForexChief and FXTM:
- Regulation: FXTM has more regulators and licenses than ForexChief, which may indicate a higher level of trustworthiness and security for traders
- Trading Assets: FXTM has more trading instruments than ForexChief, which may offer more diversity and opportunities for traders
- Trading Fees: ForexChief and FXTM have similar trading fees, but ForexChief has higher commissions than FXTM on some accounts, which may affect the profitability of traders
- Account Types: ForexChief and FXTM have different account types that cater to different trading styles and strategies, such as ECN, Cent, Pro and Shares accounts
- Payment Methods: ForexChief and FXTM have various payment methods, but ForexChief has more options for cryptocurrencies, while FXTM has Google Pay as an option
- Trading Platforms: Both brokers support MetaTrader 4 and MetaTrader 5 platforms, which are popular and user-friendly platforms for forex trading
- Analytical Tools: FXTM has more analytical tools than ForexChief, such as market news, economic calendar, trading signals, market analysis, webinars and seminars, which may help traders with their decision making and education
Ultimately, the choice of forex broker depends on your personal preferences and goals. You can try out the demo accounts of both brokers to see which one suits you better. You can also read more reviews and testimonials from other traders to get more insights and opinions.
