Forex chef

Join live discussion of forexchief.Com on our forum forexchief is a forex broker. Forex chief offers the MT4 and MT5 forex trading top platforms.

New forex bonuses

Forexchief.Com offers over 35 forex currency pairs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Forexchief.Com review

Forexchief is a forex broker. Forex chief offers the MT4 and MT5 forex trading top platforms. Forexchief.Com offers over 35 forex currency pairs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Broker details

deposit methods:

bank wire, VISA, mastercard, advcash, alipay, bitcoin, fasapay, local bank transfers, neteller, perfectmoney, qiwi, skrill, unionpay, webmoney

withdrawal methods:

bank wire, VISA, mastercard, advcash, alipay, bitcoin, fasapay, local bank transfers, neteller, perfectmoney, qiwi, skrill, unionpay, webmoney

Live discussion

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Traders reviews

Length of use: 0-3 months

It looks like you didn't read carefully the conditions. To get swap-free option you need to send request via ticket and wait confirmation from dealing dep.

BR
forexchief representative

Length of use: 0-3 months

Ok, I have read this. This I understand. Now I see why it is the way. I will stay more. Thank you!.

Dec 25, 2020 - 1 star my name is lukas. I have trader with forexchief since june. Here is account 1816588. I like the broker very well because it give me profit many times. But I am sad for them taking money from my account that I not understand why. I see money they take at right hand side of order all the time. I like the use of the broker trading, but I am hate them stealing money from my profit all time. I don't want that. Changing this broker so I want friends to know this

Reply by forexchief submitted dec 30, 2020 dear rocky1

Your account type is directfx, where you pay fee for each deal. Please read carefully conditions for each type of account, which described on the website:

Length of use: 0-3 months

Length of use: 3-6 months

Length of use: 0-3 months

My apologies for the harsh words used on previous review. I was using the wrong email, which was why I did not get the code. I have changed this and completed registration some days ago. I have put in money and started trading. Its smooth. Thanks

Nov 30, 2020 - 3 stars it's richmond here. I was going through forexpeacearmy when I stumbled on forexchief. I liked what I saw, especially the bonus, very generous offers. Yes, I needed a broker with 1: 500 leverage and allows hedging and scalping. So I decided to register and use this broker. After registration, one code is sent to email and another to phone number. I got the phone number alright. I waited for the email code, but nothing came. How can you be a good broker and have a ****y system that cannot deliver email code. Well, I just thought everyone should know. This is bad for business

Fully verified

Length of use: 0-3 months

Sorry for the picture quality. Thank you, my account is now verified. Hopefully we wont have any problems going forward.

Nov 17, 2020 - 2 stars I have been looking for a decent broker like forexchief, finally found and I have registered an account 5400875. I actually registered through a link from here. I started with a demo account and now I am happy with it and moved to a live account. All things easy as of now. I had this bad experience from a broker called piggy fx; the moment I wanted to withdraw money they asked me to verify my identity. I sent documents and was rejected for no bloody reason. Thankfully my whole money was 56 usd. So I walked away.
Due to this experience, I want to verify my identity with forexchief before doing any transactions. I have sent all documents and I am still waiting for them to verify data. Too bad it seems I have to wait a whole month to get verified. Lol. I might as well walk away.

Reply by forexchief submitted nov 23, 2020 dear juliennehallina

According KYC rules we must request high quality photo or scan of the document, where all information is clearly readable. As we know once you had uploaded the appropriate file, you ve got "fully verified" status within 10 minutes.

Welcome bonus up to $500

Welcome bonus - a bonus which is equal to 100% of the first deposit, but does not exceed $500. It is credited automatically. The profit can be withdrawn without any limitations, and the bonus itself can be withdrawn after required trading turnover completed.

Welcome bonus advantages

How to get the welcome bonus

Terms and conditions

To credit a welcome bonus, it is required to open a live account MT4.Directfx, MT4.Classic+, MT5.Directfx or MT5.Classic+. Please note, "cent" accounts are not allowed. Welcome bonus can be credited only to standard account.

Welcome bonus can be obtained only once with the first deposit of at least $50. For this purpose, check “enroll welcome bonus” option on the replenishment form.

Bonus amount is equal to 100% of the deposit sum, but can not exceed $500 (or equivalent in the account currency).

The profit can be withdrawn at any time, but the welcome bonus can be withdrawn only after the required trading turnover is achieved. The required trading turnover can be calculated upon the formula: .

Example:

The trader made a deposit $200 and received welcome bonus $200. Required turnover = 200 * 50,000 = $10,000,000 (which is equivalent to 44 lots of EURUSD in metatrader)

Examples:

BUY 1 lot EURUSD (1 lot = 100,000 EUR) position opened at a price of 1.1257 and closed at 1.1283.

SELL 5 lot USDJPY (1 lot = 100,000 USD) position opened at a price of 109.806 and closed at 109.352.

BUY 3.5 lot GBPUSD (1 lot = 100,000 GBP) position opened at a price of 1.2978 and closed at 1.2985.

Example:

The trader made a deposit $500 and received welcome bonus $500. In case the equity goes down to $500 (value in the credit field), welcome bonus will be automatically cancelled, and all positions will be closed forcibly (stop out).

Risk warning: trading with complex financial instruments such as stocks, futures, currency pairs, contracts for difference (CFD), indexes, options, and other derivative financial instruments involves a high level of risk and is not suitable for all categories of investors. You must realize that there is a probability of partial or complete loss of your initial investments and you should not invest facilities that you can't afford to lose. Until you begin to carry out trading transactions, make sure that you fully realize the risks associated with this type of activity.

Advanced platforms

Popular trading platform metatrader 4/5 developed by metaquotes, including a mobile terminal for ios and android operating systems.

MQL4/5 programming language, a wide variety of tools for technical analysis, trading signals, and VPS service.

Trading credits

Deposit funds in your account and get a trading credit up to 50% of the amount deposited.

Trading credits are termless and interest-free, and can be used as guarantees when effecting transactions.

Turnover bonuses

Turnover bonuses are analogues of rebates or cashback. Earn up to $10 for 1 mln. USD of the trading turnover.

Progressive remunirations scale, bonuses are credited automatically and can be withdrawn immediately without any restrictions.

Copy trading

Copy trades of successful traders in the automatic mode or sell your trading signals to subscribers all over the world.

The service was developed by the metaquotes company and was integrated into the metatrader client terminal.

Partnership

CPA (cost-per-action) remuneration up to $300 for each attracted client.

Subsequent «eternal» remuneration for the referrals turnover calculated on a progressive scale - up to

Liquidity provider

Open new opportunities for your brokerage company with forexchief aggregated liquidity.

Effective B2B solution that allows you to offer competitive terms to the most demanding clients on the basis of developed technological infrastructure.

Regulated & licensed

Metatrader 4 and 5

Wide range of contracts

Aggregated liquidity

Bonus programs

Partnership

Bonuses and promotions

Analog of "bonus for deposit"

Increase the amount of funds in the account

Opportunity to receive up to 20,000 USD

Perpetual and interest-free

The profit can be withdrawn without restrictions

No hidden conditions, can be opt out anytime

Analog of rebates and cashback

Progressive remuneration scale

Credited automatically

Can be withdrawn anytime without restrictions

Excellent opportunity for additional income

The bonus is credited automatically upon the first deposit

The maximum bonus is equal to $500

The bonus can be withdrawn after performing the required turnover. The profit can be withdrawn without restrictions

Trading robots and any strategies are allowed, including scalping and arbitrage

Welcome bonus has unlimited duration

Account types

This is the main account type in the line of forexchief trading accounts designed for experienced traders. The distinctive features of this account are narrow spreads without "markups" and a broker fee, whose amount is calculated as based on the transaction volume at the rate of $15 for USD 1 mln.

This is a classic account type with a "floating" spread that has no transaction fee. Client's orders are executed in "market execution" mode, while the standard speed of trading order execution on the server is in the range of 100-150 msec (under regular market conditions).

This is a "cent" account, whose balance span exceeds that standard hundredfold. Otherwise, this account type is completely identical to the MT4.Directfx. These accounts will be suitable for those clients who want to test MT4.Directfx on its "cent" counterpart.

This is a "cent" account that is different from MT4.Classic+ only by its balance span. Otherwise, those account types are identical. As it’s an intermediary stage between a demo-account and a real standard account, the cent-MT4.Classic+ allows users to make a comfortable transition from "virtual" trading to operation with real money.

The basic option for professionals in the line of forexchief trading accounts. Stable high liquidity, narrow spreads without «markups», the minimum brokerage commission on the transaction volume ($15 for 1 million USD) allows to effectively use all advantages of MT5 trading terminal and «one click trading» technology.

Classic trading account with a "floating" spread without deals fee. Full access to all MT5 functions, «market execution» mode, average speed of ordering does not exceed 100-150 msec (in conditions of a stable market). The optimal solution for professional systems with the modeling of profitability using the floating spread method without taking into account commission costs.

«cent» analog MT5.Directfx, the balance dimension of trading account is 100 times larger. Accounting for trading results in cents is beneficial for beginners, who can not risk large sums, and professionals who perform testing or optimization of trading systems or methods of management

"cent" version of MT5.Classic+ with a low level of risk. Guarantees maximum of practical experience at minimal costs. It is recommended for all systems based on floating spread without deals commission. Provides a comfortable transition from demo trading and small deposits to a full trading account.

Deposit and withdrawal

Wide range of payment systems, 0% commission, negative balance protection, segregation of client funds

Company news

Analytics

Quotes

Calculating the pip value for different forex pairs

In foreign exchange (forex) trading, pip value can be a confusing topic. A pip is a unit of measurement for currency movement and is the fourth decimal place in most currency pairs. For example, if the EUR/USD moves from 1.1015 to 1.1016, that's a one pip movement. Most brokers provide fractional pip pricing, so you'll also see a fifth decimal place such as in 1.10165, where the 5 is equal to five-tenths of a pip, or five pipettes.

How much of a profit or loss a pip of movement produces depends on both the currency pair you are trading and the currency you funded your trading account with. Pip value matters because it affects risk. If you don't know how much a pip is worth, you can't precisely calculate the ideal position size for a trade and you may end up risking too much or too little on a trade.

Pip value calculation when trading in a USD account

The most heavily traded currency pairs in the world involve the U.S. Dollar (USD). When USD is listed second in a pair, pip values are fixed and don't change if you have an account funded with U.S. Dollars.

The fixed pip amounts are:

USD$10 for a standard lot, which is 100,000 units of currency.

USD$1 for a mini lot, which is 10,000 units of currency.

USD$0.10 for a micro lot, which is 1,000 units of currency.

USD$0.01 for a nano lot, which is 100 units of currency.

These pip values apply to any pair where the USD is listed second, such as the euro/U.S. Dollar (EUR/USD), british pound/U.S. Dollar (GBP/USD), australian dollar/U.S. Dollar (AUD/USD), and new zealand dollar/U.S. Dollar (NZD/USD).

If the USD isn't listed second:

Divide the pip values above by the USD/XXX rate.

For example, to get the pip value of a standard lot for the U.S. Dollar/canadian dollar (USD/CAD) when trading in a USD account, divide USD$10 by the USD/CAD rate. If the USD/CAD rate is 1.34105, the standard lot pip value is USD$7.46, or USD$10 divided by 1.34105.

Pip value calculation for a non-USD account

Whatever currency the account is funded in, when that currency is listed second in a pair, the pip values are fixed.

For example, if you have a canadian dollar (CAD) account, any pair that is XXX/CAD, such as the USD/CAD will have a fixed pip value. A standard lot is CAD$10, a mini lot is CAD$1, and a micro lot is CAD$0.10.

To find the value of a pip when the CAD is listed first, divide the fixed pip rate by the exchange rate. For example, if the exchange rate for the canadian dollar/swiss franc (CAD/CHF) is 0.70347, a pip is worth CAD$1.42 for a mini lot (CAD$1 divided by 0.70347).

If the pair includes the japanese yen (JPY)⁠—for example, the CAD/JPY⁠—you must multiply the result by 100 after dividing by the exchange rate. That's because for the yen, a pip is the second place after the decimal (0.01) rather than the fourth (0.0001).

For example, if the CAD/JPY is priced at 79.941, to find out the standard pip value, divide CAD$10 by 79.941, then multiply the result by 100, for a pip value of CAD$12.51.

Go through this process with any account currency to find pip values for pairs that include that currency.

Pip value for other currency pairs

Not all currency pairs include your account currency. You may have a USD account but want to trade the EUR/GBP. Here's how to figure out the pip value for pairs that don't include your account currency.

The second currency is always fixed if a person has an account in that currency. for example, we know that if a person held a GBP account, then the EUR/GBP pip value is GBP10 for a standard lot, as discussed above. The next step is converting GBP10 to your own currency. If your account is in USD, divide GBP10 by the USD/GBP rate. If the rate is 0.77025, then the pip value is USD$12.98.

If you can only find a "backward," or reciprocal, quote, such as the GBP/USD rate of 1.3152, then divide 1 by the rate to get 0.76034. that is the USD/GBP rate. You can then do the calculation above.

If your account currency is the euro and you want to know the pip value of the AUD/CAD, remember that for a person with a CAD account, a standard lot would be CAD$10 for this pair. Convert that CAD$10 to euros by dividing it by the EUR/CAD rate. If the rate is 1.48132, the standard lot pip value is EUR6.75.

Always consider which currency is providing the pip value: the second currency (YYY). Once you know that, convert the fixed pip value in that currency to your own by dividing it by XXX/YYY, where XXX is your own account currency.

The balance does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

Free forex trading signals

Toolstrades trading signals - review

Today I decided to make something completely new! Today I decided that I will go out there and as a trader try and review one of the very popular signals providers in the field.

I decided to pay extra attention to toolstrades.Com. It is trading signals provider that claim that they have everything in their arsenal. So far so good, sounds ambitious but we have to put the service to the test.

I want to say that I will not show you their signals implemented on a trade as I thought that it is not going to replicate the whole spectrum of the result that you might have when using their services.

All of the other articles seem to be advice on trading and money managing… which is interesting if you are up for the reading, I guess.

The sign up took me to the signals page. And it seems that I was right. There are several plans offered by these guys. Each of them have different success rate and different number of signals per day.

Pro and unlimited plans also offer SMS service. Are they going to send trading notifications directly to my messages regardless of whether I am on the website or not? Well, that remains to be seen. I might have to talk to their support service which so far has been very helpful and find that out.

So. Time to snoop around the service.

So. I opened up a signal and what was really helpful is the chart that appears when you open one up. Unfortunately, until I make a deposit with one of the brokers that was it. It seems that without deposit going to one of their brokers you can only have 1 signal per day, but their support told me that that is for life. And yes, it was totally free.

So, until I decide to make a deposit that is pretty much it. I also found out that we have the possibility to gain access to their free whatsapp service – twice a day they send you 8 assets with the direction that has to be given to the trade. Neat! Might try it later on.

On the bottom of the page I saw statistics for the previous traders and used assets. No surprise that EUR/USD is on the first place. It has nothing to do with the quality of the signals, it is just that it is the most popular couple in market.

Summary.

So, I was skeptical at first. I didn’t know what to think when my friends started recommending this service. After all we have been burnt before. I think we all went through a bad signals provider and were really unlucky to lose money with them. Toolstrades offer a pretty wide variety of brokers – right now they have 17 brokers for me to choose out from and it seems that some of them are even regulated which is welcome. I think I will settle with one of them.

Results seem pretty plausible, but then again that is a subjective thing. I am going to have to trade to really understand the effectiveness of the signals, although it is going to be hard having only 1 daily signal.

All and all it seems that toolstrades are developing, judging by what my friends are saying. Support was very helpful and their agents are very patient, so there is no point in hesitating to ask them anything especially when you are new to their service ad understandably have a lot of questions.

Calculating the pip value for different forex pairs

Pip value calculation when trading in a USD account

The fixed pip amounts are:

USD$10 for a standard lot, which is 100,000 units of currency.

USD$1 for a mini lot, which is 10,000 units of currency.

USD$0.10 for a micro lot, which is 1,000 units of currency.

USD$0.01 for a nano lot, which is 100 units of currency.

If the USD isn't listed second:

Divide the pip values above by the USD/XXX rate.

Pip value calculation for a non-USD account

Whatever currency the account is funded in, when that currency is listed second in a pair, the pip values are fixed.

For example, if the CAD/JPY is priced at 79.941, to find out the standard pip value, divide CAD$10 by 79.941, then multiply the result by 100, for a pip value of CAD$12.51.

Go through this process with any account currency to find pip values for pairs that include that currency.

Pip value for other currency pairs

If you can only find a "backward," or reciprocal, quote, such as the GBP/USD rate of 1.3152, then divide 1 by the rate to get 0.76034. that is the USD/GBP rate. You can then do the calculation above.

Forex college - 2nd house for foreign currency traders

Петак, 20. Септембар 2013.

Forex college - 2nd house for foreign currency traders

Foreign currency, also called forex, would depend on the quantity of facets such as the stability of industry between two nations, organic problems, elections, an such like. Forex could be understood to be the computation of price of trade between your currencies of several countries. To be able to have a mistake free transaction the computation needs to be regular and correct. There's a sizable most of people that are influenced by foreign currency.

There might be another set of individuals who approach a forex college. Centered on this, various degrees of instruction are supplied from the college. New clients who simply wish to deal their very own consideration are supplied with live workout sessions aswell being an in constructed dealing program to rehearse the dealings happening in the forex broker vergleich. Clients who're interested to begin like a broker, to operate a forex company, have split up workout sessions relating for their need.

Consequently, the clear answer for this is distance education through the most typical and similarly efficient medium, internet. Many establishments allow it to be a place, to supply the in-patient enrolled, using the greatest useful knowledge rather than theoretical knowledge.

You will find quantity of facets which impact the value of currency of the nation. Elections are still another stage where in actuality the worth of country's currency may possibly be diluted or improved, based on the way the hired authorities are observed from the world community.

Free forex trading signals

Toolstrades trading signals - review

Today I decided to make something completely new! Today I decided that I will go out there and as a trader try and review one of the very popular signals providers in the field.

All of the other articles seem to be advice on trading and money managing… which is interesting if you are up for the reading, I guess.

So. Time to snoop around the service.

Summary.

USD/CHF forecast poll

The fxstreet forecast poll about USD/CHF ( US dollar switzerland franc) is a sentiment tool that highlights our selected experts' near and medium term mood and calculates trends according to friday's 15:00 GMT price.

How to read the forecast poll charts

Overview

This chart informs about the average forecast prices, and also how close (or far apart) sit the numbers from all participants surveyed that week. The bigger a bubble on the chart means more participants targeting a certain price level in that particular time horizon. This distribution also tells if there is unanimity (or disparity) among participants.

Each participant's bias is calculated automatically based on the week's close price and recent volatility. Drawing from those results, this chart calculates the distribution of bullish, bearish, and sideways forecast prices from all participants, informing about sentiment extremes, as well levels of indecision reflected in the number of “sideways”.

Averages

By displaying three central tendency measures (mean, median, and mode), you can know if the average forecast is being skewed by any outlier among the poll participants.

Shifted price

In this chart, the close price is shifted behind so it corresponds to the date when the price for that week was forecasted. This enables the comparison between the average forecast price and the effective close price.

Price change

This chart tracks the percentage change between the close prices. Bouts of volatility (or extreme flat volatility) can be then compared to the typical outcome expressed through the averages.

Smooth average

This measure is basically an arithmetical average of the three central tendency measures (mean, median, and mode). It smooths the typical outcome eliminating any possible noise caused by outliers.

Min/max

Together with the close price, this chart displays the minimum and maximum forecast prices collected among individual participants. The result is a price corridor, usually enveloping the weekly close price from above and below, and serves as a measure of volatility.

WHAT IS THE FORECAST POLL AND WHY TO USE IT?

The forecast poll is a sentiment tool that highlights near and medium-term price expectations from leading market experts. It is a sentiment indicator which delivers actionable price levels, not merely “mood” or “positioning” indications. Traders can check if there is unanimity among the surveyed experts – if there is excessive speculator sentiment driving a market – or if there are divergences among them. When sentiment is not at extremes, traders get actionable price targets to trade upon. When there is deviation between actual market rate and value reflected in forecasted rate, there is usually an opportunity to enter the market.

You can also use the forecast poll for contrarian thinking strategies. Gonçalo moreira, research expert at fxstreet, explains: “people involuntarily follow the impulses of the crowd. Sentiment indicators, in turn, lead to “contrarian” thinking. The forecast poll helps traders detect sentiment extremes and thereby limit their eventual toxic herd behavior.” read more on contrarian approaches with sentiment indicators

HOW TO READ THE GRAPHS?

Besides the table with all participants’ individual forecast, a graphic representation aggregates and visualizes the data: the bullish/bearish/sideways line shows the percentage of our contributors on each of these forecast biases.

This graph is available for each time horizon (1 week, 1 month, 1 quarter). We also indicate the average price forecast as well as the average bias.

BONDS THAT INFLUENCE THE MOST USD/CHF

Bonds whose moves can affect the USD/CHF pair: SBI T, bund, T note.

MOST INFLUENTIAL ORGANIZATIONS FOR USD/CHF

The organizations that most impact the USD/CHF are the central banks of switzerland (SNB, the swiss national bank) and of the united states (fed, federal reserve of the united states), the two countries that issue the currencies that make the pair.

The central bank of the eurozone (the ECB, european central bank) also has influence on the swissie due to the importance of business and trade between the EU and switzerland. Any assessment of possible scenarios linked to a macroeconomic decision taken by the ECB has impact on its commercial partners.

The bank for international settlements (BIS) is also an organization to take into account when trading the swiss franc. It is an international financial institution owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". It also provides banking services, but only to central banks and other international organizations. It is based in basel, switzerland.

The swiss financial market supervisory authority (FINMA) is the swiss government body responsible for financial regulation. As a state regulatory body, FINMA is endowed with supreme authority over banks, insurance companies, stock exchanges, securities dealers and collective investment schemes.

Finally, the SIX swiss exchange (formerly SWX swiss exchange), based in zurich, is switzerland's principal stock exchange (the other being berne exchange). The moves and evolution of this market are watched by CHF traders.

Currencies

This group includes the following currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CAD, EUR/GBP and USD/CHF

Note: all information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

So, let's see, what we have: is forexchief a good forex broker? Read real reviews, by traders, for traders™ add your rating to the largest forex review database by forex peace army™ >> at forex chef