The offshore broker ForexChief operates through a legal entity in Vanuatu that is registered with the VFSC as a financial dealer. ForexChief is also registered with the FMA in Vanuatu as a member. We think that people from Belarus control this offshore broker. As payment processors, we found the usual suspects like Advcash, Perfect Money, or FasaPay. We have put ForexChief on our Red Compliance list due to the lack of regulatory permission and regulatory violations.
Key Data
Trading name | ForexChief |
Business activity | Multi-asset brokerage platform |
Activity | Forex, CFD, crypto broker |
Domains | https://www.forexchief.com |
Social media | LinkedIn, Twitter, Facebook |
Legal entities | ForexChief Ltd |
Contact data | +65 3159 3652 |
Jurisdiction | Vanuatu United Kingdom |
Authorization | VFSC |
Membership | Financial Markets Association (FMA) Vanuatu |
Related individuals | Mahdi Haddadi (LinkedIn) Parsa Paryavi (LinkedIn) |
Leverage | up to 1:1000 |
Payment options | 4.5-star rating with an “Excellent” trust level |
Payment processors | Perfect Money, Advcash, Skrill, EasyPay FasaPay |
Trustpilot | 4.5-star rating with a “Excellent” trust level |
Compliance rating | Orange |
Short Narrative

Our Similarweb analysis shows that the ForexChief website was visited by around 150,000 people from April to June 2023. This is a more than 40% decrease compared to the previous three months. The visitors also come from the U.S. as well as EEA countries.
ForexChief has a 4.5-star rating on Trustpilot with a corresponding “Excellent” trust level. This is quite impressive.
Compliance Check
We could register with ForexChief as an EEA resident without any problems during the review on July 10, 2023, even though the offshore broker is not licensed to offer its financial services in the regulatory regimes of the EEA member states.

Pre-KYC deposits were not possible via bank transfer and credit/debit card. We could have made pre-KYC deposits via Crypto as well as via the Russian payment processors Advcash and Perfect Money, apparently without any amount limit. Although users are told they can only deposit a maximum of $2,000 before completing the KYC check via Crypto, it would still have been possible.
ForexChief offers maximum leverage of 1:1000 and thus violates regulatory requirements in most Western and Asian jurisdictions.
Due to the lack of regulatory permission and violations of other regulatory requirements, we are placing ForexChief on our Red Compliance List.
We inform traders that they have no protection from Investor Compensation Schemes and Financial Ombudsman when dealing with unauthorized offshore brokers. Lawsuits cannot be enforced in offshore destinations like Vanuatu.
Share Information
We recommend staying away from this unregulated offshore broker scheme. If you have any information about the scam operators or supporting partners, we would be happy if you share it with us.