ForexTB vs ForexChief
ForexTB or ForexChief – which is better for UK traders 2024? Compare ForexTB and ForexChief in this detailed breakdown of their platforms, features and fees.
ForexTB | ForexChief |
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ForexTB is ranked #97 among CFD brokers. | ForexChief is ranked #52 among CFD brokers. |
ForexTB has closed or no longer accepts UK clients.
Established in 2015, ForexTB (FXTB) is a multi-asset broker offering CFDs on over 300 instruments via its own web-based platform or the popular MetaTrader 4. FXTB offers a choice of four accounts with premium tiers enjoying tighter spreads and zero commissions, though substantial minimum investments climbing to €250k put these out of reach for most traders. |
ForexChief 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. |
Pros | |
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Cons | |
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Awards | |
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FCA Regulated | |
No | No |
Instruments | |
CFDs, Forex, Indices, Stocks, Commodities, Cryptocurrencies | CFDs, Forex, Metals, Commodities, Stocks, Indices |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$250 | $10 |
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
CySEC | VFSC |
Mobile Apps | |
iOS & Android | iOS & Android |
Trading App | |
FXTB provides a mobile version of its exclusive WebTrader platform, compatible with iOS and Android devices, featuring push notifications for real-time updates. This app facilitates trade execution, chart analysis, and asset price monitoring on-the-go. Alternatively, experienced traders may prefer the MT4 app, offering robust features like drawing tools, customizable graphs, and Expert Advisors (EAs). |
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iOS App Rating | |
Android App Rating | |
Margin Trading | |
Yes | Yes |
Margin Rate | |
0.1% | |
MetaTrader 4 | |
Yes | Yes |
MetaTrader 5 | |
No | Yes |
cTrader | |
No | No |
AlgoTrader | |
No | No |
OmniTrader | |
No | No |
TradingView | |
No | No |
Autochartist | |
No | No |
eSignal | |
No | No |
Trading Central | |
Yes | No |
STP Account | |
Yes | 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 | |
Yes | Yes |
Auto Trading | |
Expert Advisors (EAs) on MetaTrader | 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 | 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 | |
$20 | |
Islamic Account | |
No | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
CFD trading is available across forex, commodities, indices, stocks, and cryptocurrencies, encompassing over 300 assets in total. Leverage levels vary by instrument, adhering to EU regulations with a maximum of 1:30. Spreads are variable across the platform, however there is no raw spread account that would cater to advanced traders. | 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 | |
1:30 (Retail), 1:400 (Professional) | 1:1000 |
FTSE Spread | |
425 | 70 |
GBPUSD Spread< | |
1.8 | 0.9 |
Oil Spread | |
10 | 12 |
Stocks Spread | |
Variable | 50 |
Forex | |
FXTB provides CFDs on 45 currency pairs, primarily consisting of crosses involving USD, EUR, GBP, or AUD. Basic account holders encounter very wide spreads, notably 3 pips on EUR/USD, while VIP members enjoy more competitive rates, with 1.6 pips offered on the same pair. The MT4 platform and app were built for forex trading. | 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 | |
45 | 40 |
GBPUSD Spread | |
From 2.0 | 0.9 |
EURUSD Spread | |
From 1.6 | 0.4 |
EURGBP Spread | |
From 1.8 | 0.9 |
Cryptocurrency | |
ForexTB offers short-term trading in cryptocurrency markets through approximately 25 CFDs, which are paired with USD, EUR, and GBP. Popular coins include Bitcoin, Ethereum, Dash, and Litecoin. However, there are no crypto indices, limited emerging tokens and Bitcoin spreads came in wider than average during testing. | ForexChief’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 | |
Floating | Variable |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
ForexTB | ForexChief |
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