ProsperityFX and XChief are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review ProsperityFX and XChief by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
ProsperityFX vs XChief: In a Nutshell
ProsperityFX
Founded in 2020, ProsperityFX is an online forex and CFD broker that provides access to over 200 trading instruments on its MT4 platform. The broker supports multiple account types, ECN raw spreads, and fast trade executions. ProsperityFX allows all trading strategies, including scalping, hedging, and news trading. With its crypto-based funding system, traders can deposit and withdraw without extra charges. The broker offers 24/7 customer support, ensuring assistance at any time. To learn more, you can read our review on ProsperityFX
ProsperityFX Overview
- Founded In: 2020
- Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4
- Account Types: Standard, Pro, Var, Mini
- Payment Options: VISA, MasterCard, Bitcoin
- US Traders: Accepted
XChief
Founded in 2020, xChief is an online forex and CFD broker. It is an offshore forex broker that offers Forex, Metals, Commodities, Indices CFDs, Crypto CFDs, and Stock CFDs, for your personal investment and trading options. The broker allows all trading styles including scalping, hedging, news trading, etc. The broker also offers passive investment programmes like PAMM, MAM. The maximum leverage of xChief is as high as 1:1000.
xChief Overview
- Founded Year: 2014
- Founder: ForexChief Ltd
- Headquarters: Fomboni, Comoros
- Minimum Deposit: $0, (Min deposits vary based on account types)
- Maximum Leverage: 1:1000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4, MT5, Web Terminal, Mobile Trading
- Account Types: Cent, Classic+, DirectFX, prime
- Payment Options: Bank Wire Transfer (Credit/Debit Card, SEPA, Swift, Local Bank Transfer), Crypto/Binance/Coinbase, Perfect Money
- US Clients: Accepted
ProsperityFX vs XChief: Side By Side Comparison
ProsperityFX vs xChief: Features
ProsperityFX
- Trading Instruments: Forex, Indices, Commodities, Stocks and Crypto
- Trading Platforms: MT4
- Minimum Deposit: $25
- Maximum Leverage: 1:500
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.8 pips for the Standard account, $8 per lot for the Pro account, No Commission for the VAR account, $7 per lot for the Islamic account, and $1 for the Mini account.
- Minimum Trade Size: 0.01 lot.
- Funding Currencies: BTC/USD
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 50%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
xChief:
- Trading Instruments: Forex, Metals, Commodities, Indices, CFDs, Stock CFDs
- Trading Platforms: MT4 & MT5 & Mobile
- Minimum Deposit: $0
- Maximum Leverage: 1000:1
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.3 pips for the DirectFX account, $3 per lot for the xPRIME account.
- Minimum Trade Size: 0.01 lot.
- Funding Currencies: USD,EUR,GBP
- Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account.
- Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM: Available .
- Stop Out Level (retail): 30%
- Margin Call Level: 50%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available
ProsperityFX vs XChief: Pros and Cons
ProsperityFX Pros & Cons
- Low Minimum Deposit - Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading and News Trading
- ProsperityFX Accepts Crypto Deposits
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Spread sometimes widens during market volatility
- Unregulated Forex broker
- No Managed Account Options
XChief Pros & Cons
- No Minimum Deposit – You can start trading from as low as $1
- Allow Crypto CFD Trading
- Demo Accounts are Available
- The Maximum leverage is as high as 1:1000
- Allow Scalping, EA Trading, and News Trading
- xChief Accepts Crypto Deposits
- Offers MT4, MT5, Mobile trader, and Webrader trading platform
- Bank Transfer, Crypto Deposits, Binance Pay etc
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Unregulated Forex broker
Final Thoughts:
ProsperityFX and XChief are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, ProsperityFX does not support the MT5 trading platform; instead, it uses the MT4 trading platform. On the other hand, XChief supports the MetaTrader (MT4/MT5) trading platforms. The minimum deposit for ProsperityFX is $25, whereas the minimum deposit for XChief is $0. Additionally, the maximum leverage for ProsperityFX is 500:1, while the maximum leverage for XChief is 1000:1.
Our score for ProsperityFX is 3.6, and for XChief, it is 3.5 .If you are looking for a high-leverage offshore broker with MT4/MT5 trading platform you may choose XChief. However, if you prefer not to use MT5, you may choose ProsperityFX.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
