ForexChief is a licensed online forex broker that offers trading on forex, metals, commodities, indices, stock CFDs and investment accounts. It was founded in 2014 and is regulated by the Vanuatu Financial Services Commission (VFSC) . It uses the MetaTrader 4 and 5 platforms and provides a mobile app, VPS service, trading credits, turnover rebates and an affiliate program.
Markets.com is a licensed online CFD trading platform that offers trading on stocks, bonds, ETFs, commodities, forex and cryptocurrencies. It was founded in 2008 and is regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) of South Africa and the Australian Securities and Investments Commission (ASIC) . It uses its own proprietary platform and provides a mobile app, zero commission, free demo account and marketsClub membership.
ForexChief vs Markets.com Regulation Comparison
ForexChief
Markets.com
VFSC
CySEC, FSCA, ASIC, FCA
Member of FMA
Member of ICF
Segregated client funds
Segregated client funds
Negative balance protection
Negative balance protection
ForexChief vs Markets.com Trading Assets Comparison
ForexChief
Markets.com
Forex: over 40 currency pairs
Forex: over 50 currency pairs
Metals: gold and silver
Metals: gold, silver, platinum and palladium
Commodities: oil, natural gas and cocoa
Commodities: oil, natural gas, coffee, sugar, cotton and more
Indices: over 10 major global indices
Indices: over 25 major global indices
Stock CFDs: over 100 US stocks
Stock CFDs: over 2000 global stocks
Investment accounts: create or invest in funds
ETFs: over 50 exchange-traded funds
No cryptocurrencies
Cryptocurrencies: over 10 digital coins
ForexChief vs Markets.com Trading Fees Comparison
ForexChief
Markets.com
Spreads: from 0 pips on ECN accounts
Spreads: from 0.6 pips on standard accounts
Commissions: from $15 per lot on ECN accounts
Commissions: none
Swaps: based on market rates
Swaps: based on market rates
Deposit fees: none
Deposit fees: none
Withdrawal fees: none for most methods
Withdrawal fees: none for most methods
Inactivity fees: $10 per month after 3 months of no activity
Inactivity fees: $10 per month after 3 months of no activity
ForexChief vs Markets.com Account Types Comparison
ForexChief
Markets.com
Standard account: minimum deposit $100, leverage up to 1:1000, MT4 platform
Standard account: minimum deposit $250, leverage up to 1:300, proprietary platform
Cent account: minimum deposit $1, leverage up to 1:1000, MT4 platform
Professional account: minimum deposit $2500, leverage up to 1:400, proprietary platform
ECN account: minimum deposit $1000, leverage up to 1:400, MT5 platform
marketsClub account: minimum deposit $20,000, leverage up to 1:300, proprietary platform
MT4.DirectFX account: minimum deposit $1000, leverage up to 1:400, MT4 platform
Demo account: free virtual funds for practice
Investment account: minimum deposit $1000 for managers or $50 for investors
No investment accounts
ForexChief vs Markets.com Deposit Options Comparison
ForexChief
Markets.com
Bank wire transfer
Bank wire transfer
Credit/debit cards
Credit/debit cards
Skrill
Skrill
Neteller
Neteller
Perfect Money
PayPal
Bitcoin
No cryptocurrencies
ForexChief vs Markets.com Trading Platforms Comparison
ForexChief
Markets.com
MetaTrader 4: desktop, web and mobile versions
Proprietary platform: desktop, web and mobile versions
MetaTrader 5: desktop, web and mobile versions
No MetaTrader platforms
ForexChief app: mobile version of personal area
marketsClub app: mobile version of loyalty program
VPS service: free for active traders
No VPS service
ForexChief vs Markets.com Analytical Tools Comparison
ForexChief
Markets.com
Economic calendar: shows important events and indicators that affect the markets
Economic calendar: shows important events and indicators that affect the markets
Trader’s calculator: calculates the margin, profit, swap and pip value of a trade
Trader’s calculator: calculates the margin, profit, swap and pip value of a trade
Library: provides educational articles, videos and books on trading topics
Webinars: provides live online sessions with experts on trading topics
Analytical reviews: provides daily market analysis and forecasts from professional analysts
Market news: provides daily market updates and commentary from in-house analysts
No copy trading service
Copy trading service: allows traders to follow and copy the strategies of top performers
ForexChief vs Markets.com. 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, you can consider some of the following factors:
Regulation: Markets.com has more licenses and memberships than ForexChief, which may indicate a higher level of trustworthiness and compliance.
Trading assets: Markets.com has more variety and diversity than ForexChief, and also offers trading on cryptocurrencies and ETFs, which ForexChief does not.
Trading fees: Markets.com has an advantage of offering zero commission on all trades, while ForexChief charges commissions on its ECN accounts, which have lower spreads than its standard accounts.
Account types: Markets.com has a higher minimum deposit requirement than ForexChief, but also offers a free demo account for beginners. ForexChief offers investment accounts, which allow traders to create or invest in funds managed by other traders.
Trading platforms: ForexChief uses the popular and widely used MetaTrader 4 and 5 platforms, which have advanced features, tools and indicators for technical analysis, trading signals and automated trading. Markets.com uses its own proprietary platform, which has a simple and intuitive interface, customizable charts and alerts, and integrated news and analysis.
Analytical tools: Markets.com offers webinars, market news and copy trading service, which can enhance the learning and trading experience of traders. ForexChief offers analytical reviews and library, which can provide valuable insights and knowledge on trading topics.
Ultimately, the best way to decide which forex broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their platforms, services and features before committing to a real account. You can also read online reviews and feedback from other traders who have used both brokers.
