XChief and FXSway 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 XChief and FXSway 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.
XChief vs FXSWay: In a Nutshell
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
FXSWay
Founded in 2021, FxSway is an online forex and CFD broker. It is an offshore forex broker that offers Forex, Crypto, Stocks, Indices, and Commodities to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of FxSway is as high as 1:500.
FxSway at a Glance
- Founded Year: 2021
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: TradeLocker (Desktop, Web, Mobile)
- Account Types: Standard, Var, Pro, Mini
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Cryptocurrencies ((BTC, ETH, XRP, LTC, DOGE & USDT)
- US Traders: Accepted
XChief vs FXSWay: Side By Side Comparison
xChief vs FXSway: Features
xChief
- Trading Instruments:Â Forex, Metals, Commodities, Indices, CFDs, Stock CFDs
- Trading Platforms:Â MT4 & MT5 & Mobile
- Minimum Deposit:Â Â $0
- Maximum Leverage:Â 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.Â
- Funding Currencies:Â 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.Â
- Maximum Volume per trade:Â 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.Â
- PAMM:Â Available .Â
- Stop Out Level (retail): 30%
- Margin Call Level:Â 50%Â
- Negative balance Protection: YesÂ
- Investor Protection:Â Â No investor protection is Availabl
FXSway
- Trading Instruments: Forex, Cryptos, Metals, Indices, Stocks & Commodities
- Trading Platforms: TradeLocker
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- STP execution: with Level 2 Pricing
- Trading Fees: Commission Per Lot from $1 to $9.00. Variable spreads from 0.4 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Bitcoin, Dogecoin (DOGE), Ether/Ethereum, Litecoin, Other Crypto Currencies, Ripple (XRP), Tether (USDT)
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- 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 vs FXSWay: Pros and Cons
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
FXSWay 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
- FxSway Accepts Crypto Deposits
Cons:
- Unregulated offshore Forex Broker
- Only Crypto Deposit and withdrawals are available
- Meta Traders (MT4/MT5) are not available. Only TradeLocker is offered
Final Thoughts:
XChief and FXSway 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, XChief supports the MetaTrader (MT4/MT5) trading platforms. On the other hand, FXSway does not support MetaTrader (MT4/MT5) trading platform. It uses the Tradelocker trading platform. The minimum deposit for XChief is $0, whereas the minimum deposit for FXSway is $10. Additionally, the maximum leverage for XChief is 1000:1, while the maximum leverage for FXSway is 500:1.
Our score for XChief is 3.5, and for FXSway, it is 4.3 So, 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 MT4/MT5, you may choose FXSway.
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
