xChief

xChief broker, which many Iranian traders know by its old name ForexChief, has been operating since 2014 and has gained a following among Iranians with its low-cost accounts, cent account and Rial deposits. In this overview, we review xChief's licenses, accounts, payment methods and risks based on Teagle's data.

What kind of broker is xChief?

xChief started operating in Hong Kong in 2014 under the name ForexChief and later, after rebranding to xChief, shifted its focus to emerging markets. The company is registered in Comoros and has offices in Vanuatu, Dubai and Nigeria. The broker offers forex, metals, commodities, indices, cryptocurrencies and, on its special account, stocks for trading, and with about 12 years of history, a Persian website and support, and acceptance of Iranian clients, it is one of the popular options in Iran.

xChief licenses and credibility

xChief's regulation status is the most important thing you should know before opening an account. According to Teagle's latest review:

• Active licenses: FSCA South Africa (No. 54829), AFSA Astana, Kazakhstan (No. AFSA-A-LA-2025-0012) and MISA Mohéli (No. T2023379);
• Revoked licenses: Its ASIC Australia registration (No. 671746725) has been cancelled and its VFSC Vanuatu license (No. 14777) has also been revoked.

According to Teagle's expert, the broker's services rely mainly on the Mohéli license, which is considered a weak body without a credible protection mechanism, and the early cancellation of ASIC has called the broker's transparency into question. To evaluate these licenses, read the guide to broker regulation tiers .

xChief trading accounts

xChief has four account types, and the maximum leverage on the three main accounts is 1:1000:

• Classic+ account: Minimum deposit $10, no commission, spreads from 0.6 pips and access to more than 70 symbols.
• DirectFX account: Minimum deposit $50, commission of $2.5 per lot and spreads from 0.3 pips.
• xPRIME account: Minimum deposit $2,000, $3 commission, spreads from zero and more than 150 symbols including stocks; this account's stop-out is 50%.
• Cent account: No minimum deposit, 1:500 leverage and MetaTrader 4 only.

The first three accounts have an Islamic (swap-free) version. The cent account is a good option for practicing with real money and testing trading robots; see how it compares with other brokers in best brokers for cent accounts . xChief also has a special service package called V9, which is introduced in the article xChief V9 package .

Deposits and withdrawals at xChief

xChief offers Iranians Rial and crypto deposits and withdrawals. According to Teagle's data, the minimum deposit for all methods is $10. Tether deposits are free of charge and processed within 8 hours at most, and crypto and e-wallet withdrawals usually take one business day. Methods such as credit card (2%), Perfect Money (1.99%) and WebMoney carry fees, and credit card withdrawals take 2 to 7 business days. Identity verification must be completed before the first withdrawal; we have explained the steps in identity verification at xChief broker .

xChief platforms and services

Trading at xChief is done on MetaTrader 4, MetaTrader 5 and the mobile version. The broker's additional services are extensive: bonuses and cashback, rebates, copy trading and social trading, PAMM accounts for passive investors, an IB partnership program, a trading API and special capital insurance. Follow the terms of active bonuses on the broker bonuses page ; the conditions for withdrawing bonus profits are usually strict.

xChief's rating and risk on Teagle

xChief's final rating on Teagle is 3.52 out of 5: Forex Peace Army 4.15, Trustpilot 3.8, Teagle expert 3.7, Teagle users 3 and WikiFX 2.94. The Teagle Eye risk index for this broker is 20 out of 100, in the "low risk" category; this index measures active licenses and track record, but the revocation of the ASIC and Vanuatu licenses shows that the regulatory status should also be monitored separately. See where this broker stands in the ranking of brokers suitable for small capital .

Pros and cons of xChief broker

• Pro: Low minimum deposit ($10) and a cent account with no minimum deposit
• Pro: Low spreads on commission accounts and an Islamic account
• Pro: Rial and Tether deposits and withdrawals, Persian support and PAMM services
• Con: Revocation of the ASIC and VFSC licenses and main reliance on the weak Mohéli license
• Con: Fees on some payment methods and the high stop-out on the xPRIME account
• Con: Reports from some users of widening spreads and server connection outages

Who is xChief suitable for?

xChief is an option worth considering for beginners who want to start with small capital or a cent account, and for investors interested in PAMM. If the protection of a top-tier regulator such as the FCA, CySEC or ASIC is a requirement for you, xChief's current license status does not meet that need. Before deciding, weigh it against a broker with a top-tier license in the xChief vs FxPro comparison .

Conclusion

xChief broker has a good track record in everyday services, namely low-cost accounts, Rial payments and responsive support, but the weakness of its regulatory framework cannot be ignored. Deposit your capital in stages, make a test withdrawal, read the documents and client agreement yourself, and follow new warnings on the investment risk warning page .