GoFX vs ForexChief
GoFX or ForexChief – which is better for UK traders 2024? Compare GoFX and ForexChief in this detailed breakdown of their platforms, features and fees.
GoFX | ForexChief |
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GoFX is ranked #53 among CFD brokers. | ForexChief is ranked #51 among CFD brokers. |
GoFX is an unregulated CFD and forex broker that covers instruments from currency, stock, index, commodity and crypto markets. Traders can sign up to a variety of account types with deposits as low as $1 and will trade using the popular MetaTrader 4 platform. Exceptionally high leverage up to 1:3000 is offered on the standard account, while traders with the low-spread account can access leverage up to 1:1000. | 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 | |
Forex, Cryptos, CFDs on Stocks, Indices & Commodities | CFDs, Forex, Metals, Commodities, Stocks, Indices |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$1 | $10 |
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
FSA | VFSC |
Mobile Apps | |
iOS & Android | iOS & Android |
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 | |
No | No |
STP Account | |
No | 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 | |
No | No |
Market Maker | |
No | No |
P2P Trading | |
No | No |
Spot Trading | |
No | 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 (via MT4) | 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 |
Islamic Account | |
Yes | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
Trade CFDs on forex, indices, stocks, commodities and cryptocurrencies with leverage up to 1:3000. Swap-free trading is available, and all account types trade with competitive spreads and are commission-free except the Go Pro account, which charges a $7 round-turn commission. | 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 | |
1:3000 | 1:1000 |
FTSE Spread | |
0.01 | 70 |
GBPUSD Spread< | |
0.00001 | 0.9 |
Oil Spread | |
0.01 | 12 |
Stocks Spread | |
Variable | 50 |
Forex | |
Trade a small selection of 25 major and minor pairs. Spreads from zero on the pro account, micro-lot trading, and very high leverage make up for the limited range of currencies. The MetaTrader software is also a well-regarded platform 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 | |
28 | 40 |
GBPUSD Spread | |
0.00001 | 0.9 |
EURUSD Spread | |
0.00001 | 0.4 |
EURGBP Spread | |
0.00001 | 0.9 |
Cryptocurrency | |
Trade tight-spread CFDs on BTC, LTC, ETH, DOGE, ADA and XRP paired with USD. This may be too small a range to satisfy many crypto traders, but it is a comparable offering to similar brokers. | 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 | |
0.0001 | Variable |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
GoFX | ForexChief |
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