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XChief in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%85
- Round-turn cost20%97.5
- Safety20%0
- Payouts15%no data
- Track record10%60
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Onboards Indian clients via offshore xChief LTD (Comoros/Mwali); no India entity.
- Founded
- 2014
- Retail leverage
- 1000IN
- Round turn
- 5.5 USDIN
- Currencies
- No INR; USD, EUR, GBP, JPY, CHF, RUB.
- Swap-free account
- yes
Licence check
Open an account with XChiefThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Onboards Indian clients via offshore xChief LTD (Comoros/Mwali); no India entity.
- Local standing
- Unregulated locally. Retail offshore forex/CFD trading via foreign brokers is prohibited under FEMA; RBI publishes an Alert List of unauthorised entities. xChief not specifically confirmed on RBI list at review, but is not RBI-authorised.
- Licence as the register states it
- No SEBI/RBI licence; not authorised in India.
- Leverage for this entity
- Up to 1:1000 (MT4); 1:400 MT5; CENT 1:500.
- The firm behind it
- Founded 2014 as ForexChief; rebranded xChief; CIS roots; 1M+ claimed clients.
- What we hold against it
- Offshore; low safety scores (~4.7/10 cited); bonus/contest payout disputes; opaque compliance suspensions.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youUnregulated locally. Retail offshore forex/CFD trading via foreign brokers is prohibited under FEMA; RBI publishes an Alert List of unauthorised entities. xChief not specifically confirmed on RBI list at review, but is not RBI-authorised.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: CENT (min $0), Classic+ ($10), DirectFX ($50), xPRIME ($500, MT5). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where XChief sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 5.5 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 10 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:1000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (7 methods · 1 local)
No verified INR/UPI local rail;
- UPI local raillocal
- Cards
- Wire
- Skrill
- Neteller
- Crypto
- Perfect Money
- Account currency
- No INR; USD, EUR, GBP, JPY, CHF, RUB.
- Fee declared
- 7 of 7 methods
- Withdrawal back to
- the funding method
Where it does not serve(16 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- MT4
- MT5
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 0.6 |
| MT5 | — | 0.6 |
| Forex pairs | 60+ | — |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Identical for every row: Leverage 1000 IN.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.7 | — |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(4 for and 4 against, each tied to a figure on this page)
- Round turn 5.5 USD on the raw + commission basis, under the India median 7
- Min deposit 10 USD, under the India median 15
- Swap-free account available
- Round-turn cost 98 of 100, its strongest of 6 scored axes
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Withdrawal in 120 h, over the India median 48
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 4.5IN
- Min deposit, USD
- 0IN
- Leverage
- 500IN
- Rank in this country
- #3
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 3000IN
- Rank in this country
- #11
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 500IN
- Rank in this country
- #15
- Round turn, USD
- 7IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 200IN
- Rank in this country
- #19
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 2000IN
- Rank in this country
- #8
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | XChief |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 85 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 98 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 0 |
| Track record | 10% | Years since the firm was founded, from its own filings | 60 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does XChief accept residents of India?
- No. Unregulated locally. Retail offshore forex/CFD trading via foreign brokers is prohibited under FEMA; RBI publishes an Alert List of unauthorised entities. xChief not specifically confirmed on RBI list at review, but is not RBI-authorised. Onboarding entity: Onboards Indian clients via offshore xChief LTD (Comoros/Mwali); no India entity.
- Is XChief licensed to serve clients in India?
- No SEBI/RBI licence; not authorised in India. Checked on 09.07.2026.
- How much does one round turn cost at XChief?
- About 5.5 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does XChief offer to retail clients in India?
- Up to 1:1000. Up to 1:1000 (MT4); 1:400 MT5; CENT 1:500.
- Which trading platforms does XChief support?
- MT4, MT5. Instruments: FX, metals/gold, indices, crypto CFDs.
- How can I withdraw money from XChief in India?
- No verified INR/UPI local rail; cards, wire, Skrill, Neteller, crypto, UnionPay, Perfect Money.
- What account types does XChief offer?
- CENT (min $0), Classic+ ($10), DirectFX ($50), xPRIME ($500, MT5).
- Does XChief offer a swap-free (Islamic) account?
- Yes. XChief offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.