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Contract reading

What xChief legally published, but does not want you to read

Every clause below is published by xChief itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on . We have read it 2 times.

Contracting entity: xChief Ltd

profit voidingwithdrawalshidden feesole discretionbonus lockcomplaintsdormancyforum waiverintroducing brokerlanguage gap

xChief Ltd is a Comoros company. Its contract lets it cancel any trade it judges against its own interests. Idle accounts pay $20 a month until nothing is left. Clause 11.8 lets xChief collect a negative balance it wrote off from your other accounts. The website promises compensation for technical failures, protected client money and 1:1000 leverage, and the documents back none of the three.

Back to xChief

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
8
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
30
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
13
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
15

How the 30 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical8
Warning21
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$20Fee on an unused account. Jump to the clause this comes from.Idle accounts pay $20 a month until nothing is leftCritical30%Profit at risk. Jump to the clause this comes from.Loss insurance deletes the profit you make afterwards1.95%Fee you were not shown. Jump to the clause this comes from.Free to pay in, 1.95% with a $50 floor to take out50000Bonus requirement. Jump to the clause this comes from.Bonuses and trading credits lock your own deposit

What the documents say

30 clauses worth knowing about, worst first, each quoted from xChief's own files

01

xChief can cancel any of your trades that it considers against its own interests, for any reason. Clause 9.11 sets no test, gives no notice and offers no appeal.

Why this matters

A winning trade is the one most likely to be against xChief's interests, because xChief is on the other side of it. Under this clause the profit can be cancelled after you have made it.

Exhibit 1CriticalRarely seen

We reserve the right to cancel any transactions that we consider, at our sole discretion, to be contrary to your interests or ours, for any reason.
Clause 9.11 in Client Agreement, p.7
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 25xChief is the counterparty to every trade, so a trade that pays you is a trade that costs xChief, and clause 9.11 lets it cancel exactly those.
02

xChief's website says it keeps client money apart from its own for your protection. Its Risk Disclosure Notice says the pooled client account can be used for xChief's own obligations from other clients' trades. If the bank holding it fails, you carry the loss.

Why this matters

Your deposit is not walled off from what xChief owes because of other people's trading. If that money is lost, clause 8.3 leaves you with no claim against xChief.

Exhibit 2CriticalRarely seen

Furthermore, funds held in the Omnibus Account may be exposed to obligations of the Firm arising from the positions of other Clients, should the Firm be unable to meet such obligations.
Clause 8.2 in Risk Disclosure Notice, p.4
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must hold client money on trust, apart from the firm's own money, so that it goes back to clients if the firm fails. xChief's notice lets the pooled account meet xChief's obligations instead.

xChief is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

03

xChief promises that your losses will not go past your account balance. Clause 11.8 then lets it treat the amount it wrote off as a debt you owe, and take it directly from your other accounts, including your wallet.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

Money in a second account or in your wallet can pay for a loss the protection was supposed to absorb. Keeping funds spread across xChief accounts does not ring-fence them.

Exhibit 3CriticalHarder than usual

Any liabilities owed by you to us, including those resulting from the application of negative balance protection, may be deducted directly from your Accounts.
Clause 11.8 in Client Agreement, p.8
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: ESMA (EU), FCA (UK)

Under the ESMA and FCA retail CFD rules, a retail client's losses on a CFD account are limited to the funds in that account. Clause 11.8 lets xChief collect the written-off amount from your other xChief accounts.

xChief is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

04

If you stop trading, xChief can charge you a $20 fee and then $20 every month, on each idle account. When less than $20 is left, the fee takes all of it.

Why this matters

The fee keeps running after the agreement ends, until you ask for a withdrawal and the balance is zero. The contract even states the start date two ways, "six (3)" months, so you cannot be sure when the charges begin.

Exhibit 4CriticalHarder than usual$20

If your Account remains inactive for six (3) consecutive months, we reserve the right to charge a one-time maintenance fee of USD 20 (or currency equivalent), followed by a recurring monthly inactivity fee of USD 20 for as long as the Account remains inactive.
Clause 12.7 in Client Agreement, p.10
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Six (3) consecutive months inactiveA one-time $20 maintenance fee, then $20 every month while the account stays inactive.12.7
Twelve (6) consecutive months inactivexChief can end the agreement with immediate effect.21.3.g
Balance under USD 20The fee takes whatever is left, down to zero.12.7
After terminationThe fee keeps running until you ask to withdraw and the balance is zero.12.8
  • Worse together with Exhibit 28After a quiet spell xChief can hold your access until you send new documents, and the monthly fee keeps running while you wait.
05

xChief's English and Persian pages say it compensates you for losses caused by technical failures on its side. The contract says it is not responsible when its systems are unavailable, and it lists system failures as events outside its control.

Why this matters

If the platform freezes and a stop loss does not fire, you have no contractual claim for the loss. The only way back in is to prove misconduct by xChief.

Exhibit 5CriticalHarder than usual

Unavailability of our systems, except where caused by our misconduct;
Clause 17.6.a in Client Agreement, p.13
Read from the broker's site on Archived copyOpen the reference
06

If you lose your deposit, xChief's insurance credits a payout of 30% of the loss. Once you have traded the turnover, only the payout can leave. Everything else in the account, apart from your own deposits, is "irrevocably deducted".

Why this matters

Any profit you build after joining the program is lost the day you take the payout. Opting out costs you the payout and the profit made with it.

Exhibit 6CriticalRarely seen30%

After meeting the required trading turnover, only the insurance payout amount can be withdrawn. All other funds, except for the client’s own deposits, will be irrevocably deducted from the account.
Clause Terms and Conditions in Insurance 30% of Deposit, terms and conditions
Read from the broker's site on Open the reference
Our own capture of xchief.com, taken on Oct 24, 2026Loss insurance deletes the profit you make afterwards (clause Terms and Conditions)Visit this page on the broker's siteDownload the full size image file

No withdrawal deadline, and a volatility switch to stop them

xChief's contract treats every published processing time as an estimate and promises no payout date. Clause 19.2.f lets xChief suspend or reject withdrawals when it judges market conditions abnormal. A withdrawal to a different method from your deposit can be refused under clause 11.16.

Exit conditions2 clauses flagged

xChief treats extreme market volatility as an event outside its control. When such an event happens, clause 19.2.f lets it suspend withdrawals or reject your withdrawal requests.

Why this matters

Volatility is exactly when you may most want your money out. xChief decides when markets count as abnormal, and the clause sets no time limit on the suspension.

Exhibit 8CriticalHarder than usual

Abnormal market conditions such as extreme volatility or disorderly trading;
Clause 19.1.g in Client Agreement, p.14
Read from the broker's site on Archived copyOpen the reference

The website calls its bank payments instant. The contract says xChief cannot guarantee processing times and that the published times are only estimates. A withdrawal to a different method from your deposit can be rejected.

Why this matters

Nothing in the contract obliges xChief to pay you by any date. The deposit page itself allows up to five business days for a SWIFT withdrawal.

Exhibit 9WarningStandard wording

While indicative processing times are published on our Website, these are estimates only and may be subject to delays, particularly where additional documentation is required.
Clause 11.19 in Client Agreement, p.9
Read from the broker's site on Archived copyOpen the reference

xChief can undo a winning trade on its own judgement

Clause 9.11 of the xChief Client Agreement lets xChief cancel any trade it considers against its own interests, for any reason. Clause 16.9 lets it seize profits on a suspicion of fraud, and clause 11.8 lets it recover a negative balance write-off from your other accounts. Its insurance program and its partner agreement each add another route to deleting profit.

Profit voiding2 clauses flagged

If xChief merely suspects card fraud or any other fraud, it can block you, cancel your positions and keep your profits. Clause 16.9 says it decides alone and "without limitation".

Why this matters

Suspicion is enough, and the contract names no evidence, no deadline and no appeal. A disputed card payment could cost you every profit on the account.

Exhibit 7CriticalHarder than usual

If we suspect debit/credit card fraud or any other fraudulent activity, we reserve the right, at our sole discretion and without limitation, to restrict or block your access to our trading platforms and Website, cancel any open positions or pending orders, and withhold or seize any profits generated, in accordance with clause 21.3.
Clause 16.9 in Client Agreement, p.12
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Clause 2.18 of xChief's agreement with introducers lets it cancel orders, annul profits and deduct promotional funds from a client's account. It can do this if the partner or any of the partner's clients is merely suspected of abuse or arbitrage.

Why this matters

If a partner introduced you, someone else's conduct can reach your account. Partners are protected by a test of evidence of their own complicity, and clients are given no such test.

Exhibit 27WarningRarely seen

xChief reserves the right, at its absolute discretion, to terminate this Agreement and the Partner's participation in the Partnership Program, detach a Client from the Partner, cancel all orders, annul all profits, and remove or deduct any Promotional Material from the Partner's or Client's account with immediate effect if it is in the interest of its Clients and does not cause severe detriment.
Clause 2.18 in Partnership Agreement, p.4
Read from the broker's site on Open the reference
  • Worse together with Exhibit 26The partner who is paid on your deposits is also the link through which a suspicion about other clients can reach your profit.

The website promises what the contract takes back

xChief's advantages page promises compensation for technical failures, segregated client funds, 1:1000 leverage and fee-free storage. The contract and policies exclude system failures, expose pooled client money to xChief's own obligations, cap leverage at 1:500 and charge idle accounts $20 a month. The Persian and Hindi bonus pages let xChief cancel profit for no reason, where the English page requires suspected abuse.

Promise gap4 clauses flagged

On the English page, xChief can cancel the $100 bonus and its profit only if it suspects abuse or a rule breach. The Persian and Hindi pages for the same bonus say you agree it can cancel both at any time, without giving a reason. The same pages promise you can withdraw the $100 "without restriction".

Why this matters

If you read the bonus in Persian or Hindi, you are agreeing to a wider right of cancellation than English readers are. The pages exclude Iran and India, yet let partners offer the bonus there anyway.

Exhibit 14WarningRarely seen

The Company reserves the right to cancel the bonus and any profits generated from it in the event of suspected abuse or violation of the promotion terms.
Clause Terms and Conditions in No-Deposit Bonus $100, terms and conditions
Read from the broker's site on Open the reference
Our own capture of xchief.com, taken on Oct 24, 2026The claim, on Persian no-deposit bonus page, benefits listVisit this page on the broker's siteDownload the full size image file
Our own capture of xchief.com, taken on Oct 24, 2026What the contract says, clause شرایط و ضوابطVisit this page on the broker's siteDownload the full size image file
Our own capture of xchief.com, taken on Oct 24, 2026The claim, on Hindi no-deposit bonus page, benefits listVisit this page on the broker's siteDownload the full size image file
Our own capture of xchief.com, taken on Oct 24, 2026What the contract says, clause नियम और शर्तेंVisit this page on the broker's siteDownload the full size image file
  • Limited by Exhibit 24Clause 15.2 says the English version prevails where versions differ, which in law favours the narrower English cancellation right.

The account types table lists a 30% stop out for three of the four accounts. The Order Execution Policy lets xChief start closing your positions at a 50% margin level, beginning with the biggest loss.

Why this matters

Your margin level is your equity divided by the margin your trades use. A drawdown you expected to ride out to 30% can be closed out by xChief at 50%, which turns it into a realised loss.

Exhibit 15WarningStandard wording50%

Where the Margin Level falls to 50% or below, the Company reserves the right to initiate liquidation of positions
Clause 4.3 in Order Execution Policy, p.4
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Margin level 50%xChief may start liquidating, beginning with the largest losing position.4.3
Margin level 30%The platform closes positions automatically.4.3
Still at or below 30%Liquidation continues until the margin level is back above 30%.4.3

xChief advertises leverage of up to 1:1000, while its Risk Disclosure Notice puts the maximum at 1:500. On the margin page, Forex leverage falls automatically as your equity grows, from 1:1000 below $3,000 to 1:40 at $100,000.

Why this matters

Leverage is how many dollars of position each dollar of margin controls. When a winning trade lifts you into a new band, the margin on every open trade rises, and the policy says that can cause a stop out.

Exhibit 16WarningHarder than usual

The maximum leverage offered by the Firm is 1:500, subject to limitations that may apply to certain CFDs.
Clause 5.2 in Risk Disclosure Notice, p.3
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Equity under $3,000Forex leverage up to 1:1000.
Equity $3,000Forex leverage drops automatically to 1:500.
Equity $20,000Forex leverage drops to 1:200.
Equity $50,000Forex leverage drops to 1:100.
Equity $100,000Forex leverage drops to 1:40.

The advantages page says you can open extra accounts and keep money in transitory accounts "all without fees". The contract counts transitory accounts as Accounts and charges the inactivity fee separately on each idle one.

Why this matters

A wallet you were told is free can pay $20 a month once it goes quiet. Several idle accounts each pay their own fee.

Exhibit 17WarningHarder than usual$20

The inactivity fee applies separately to each inactive Account.
Clause 12.7 in Client Agreement, p.10
Read from the broker's site on Archived copyOpen the reference
  • Only applies after Exhibit 4The free storage claim fails as soon as the inactivity ladder starts on the account.

Deposits are free, and leaving costs 1.95%

xChief shows 0% on every deposit method and charges 1.95% on bank withdrawals, with a $50 minimum by SWIFT. Its Risk Disclosure Notice adds an unquantified mark-up to every price, while the copy trading page says you pay xChief no fees. Swap-free accounts can be switched off at any time and charged full swaps.

Cost disclosure3 clauses flagged

Every deposit method shows 0%. Withdrawals by bank cost 1.95%, with a minimum of $50 by SWIFT and €35 by SEPA. The fee appears only under the page's Withdrawal tab, and the contract names no figure at all.

Why this matters

On a small withdrawal the minimum is the real price. Clause 12.9 also lets xChief add unnamed fees if you deposit and withdraw without trading.

Exhibit 10WarningHarder than usual1.95%

1.95%, min $50
Clause Withdrawal, Bank Transfer SWIFT in Deposit and Withdrawal, methods, fees and processing times
Downloaded from the broker's site on Open the reference

The copy trading page tells you that you pay no fees to xChief and that there are no hidden fees. The Risk Disclosure Notice says xChief adds its own mark-up to the prices you trade at, and the contract adds xChief's own adjustment to swap rates. Neither document says how large either one is.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

You pay xChief on every trade through the price, and no document lets you check how much. Two of the three copy trading accounts also carry a commission per lot.

Exhibit 11WarningStandard wording

Prices of CFDs include a mark-up, consisting of (i) raw spreads received from liquidity providers, and (ii) an additional mark-up applied by the Firm, where applicable.
Clause 4.1 in Risk Disclosure Notice, p.3
Read from the broker's site on Open the reference
Our own capture of xchief.com, taken on Oct 24, 2026The claim, on Copy trading page, FAQ: What fees do I pay?This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

The swap-free account loses its status if you hold any position longer than 7 days. xChief can also switch it off at any time without explanation and charge the full swap cost on any position on the account.

Why this matters

If you chose the account for religious reasons, you can still be charged interest-based swaps. The page does not say whether past positions are included.

Exhibit 20WarningHarder than usual7 days

By activating the swap-free option, the Client agrees that the company has the right to disable it at any time without explanation and charge the full swap cost for any position on the account.
Quoted in Islamic Swap-Free Trading Account conditions
Read from the broker's site on Open the reference

xChief bonuses hold your own deposit and cap your profit

xChief's welcome bonus and trading credits subtract your qualifying deposit from what you may withdraw while they are active. The welcome bonus needs turnover of 50,000 times its value. The free $100 bonus needs 30 lots in 30 days, then deducts any other profit on the account at the first withdrawal.

Bonus conditions2 clauses flagged

While a welcome bonus or trading credit is active, xChief subtracts your qualifying deposit from what you may withdraw. Only profit above it can leave. The welcome bonus is released only after turnover of 50,000 times its value.

Why this matters

Your own money stays in the account until you give up the bonus. You can cancel it at any time, but the bonus is then deducted.

Exhibit 12WarningHarder than usual50000

While the Welcome Bonus remains active, the amount available for withdrawal is restricted and calculated as follows: Available for Withdrawal = Free Margin − Welcome Bonus − Qualifying Deposit Amount.
Clause Terms and Conditions in Welcome Bonus up to $500, terms and conditions
Read from the broker's site on Open the reference

To keep the free $100 you must trade 30 lots within 30 days. At your first $100 withdrawal, xChief deducts any remaining profit generated on the account.

Why this matters

The deduction covers profit on the whole account, not just profit made with the bonus. Do not add your own money to a bonus account.

Exhibit 13WarningStandard wording30

The maximum amount available for withdrawal after completing the turnover requirement is $100. Upon the first $100 withdrawal, any remaining profit generated on the account will be deducted.
Clause Terms and Conditions in No-Deposit Bonus $100, terms and conditions
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Within 30 daysTrade 30 lots on the listed pairs, or lose the bonus and its profit.
First $100 withdrawalAny remaining profit on the account is deducted.

Copy trading and account access sit on xChief's discretion

xChief's Order Execution Policy lists identical strategies across multiple accounts as suspected abuse, although xChief sells copy trading. Clause 7.2 lets xChief treat anyone holding your password as you. It is liable only for its own gross negligence.

Trading limits2 clauses flagged

xChief sells copy trading, where many accounts place the same trades. Its Order Execution Policy lists the use of identical strategies across multiple accounts as suspected abuse. In that case xChief may reject or change your orders without notice.

Why this matters

The policy does not carve out xChief's own copy trading service. A copied account could have its orders rejected or changed on the same ground.

Exhibit 18WarningHarder than usual

suspected abusive trading practices such as latency arbitrage or the use of identical strategies across multiple accounts.
Clause 3.5 in Order Execution Policy, p.3
Read from the broker's site on Archived copyOpen the reference

xChief can act on instructions from anyone who has your login details, as if you gave them. It is liable for misuse of your credentials only if its own gross negligence caused it.

Why this matters

If someone gets into your account, the trades and transfers they make count as yours. Ordinary carelessness by xChief is not enough for you to claim.

Exhibit 19WarningStandard wording

Furthermore, we may act upon any instructions received from an individual who is in possession of your Access Codes, as if such instructions were issued by you, without the need for additional confirmation or inquiry.
Clause 7.2 in Client Agreement, p.5
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A complaint against xChief ends at a Comoros registrar

xChief answers formal complaints within 14 calendar days, and the only escalation is the Mwali International Services Authority, with no stated power to award money. Clause 20.6 applies the contract version in force on the day of the dispute. Clause 18.1 makes you cover xChief's losses, including reputational damage.

Recourse3 clauses flagged

xChief answers a formal complaint within 14 calendar days. After that, your only route is the Mwali International Services Authority, through a website named mwaliregistrar.com. The procedure says that body will review the complaint, and says nothing about ordering a payment.

Why this matters

No independent scheme can make xChief pay you. The procedure also wants your complaint "as soon as reasonably practicable" after the problem, a deadline xChief alone interprets.

Exhibit 21WarningHarder than usual14 days

Upon receipt, xChief will investigate the complaint and provide a formal response, including the outcome or decision, within 14 calendar days.
Clause 3.6 in Complaints Handling Procedure, p.2
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Set against a regulated standard: FCA (UK)

FCA-licensed firms must answer a complaint within eight weeks and tell you that you can take it, free, to the Financial Ombudsman Service, which can order the firm to pay. xChief's procedure ends with the Mwali authority's review.

xChief is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Clause 20.6 says that in a dispute, the latest version of the agreement prevails. That is the version in force on the day you dispute, not the one in force when the trade happened.

Why this matters

A change xChief makes after the event can decide your claim about that event. You are told of material changes in advance, but the new terms then reach back.

Exhibit 22WarningHarder than usual

In the event of a dispute, the latest version at the time of the dispute shall prevail.
Clause 20.6 in Client Agreement, p.14
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You must repay xChief in full, on demand, for its losses from your breach, including reputational damage and the cost of enforcing the contract. xChief excludes its own liability even for direct damages.

Why this matters

A dispute can leave you paying xChief's costs, while xChief owes you almost nothing for its own failings. The exclusion bends only where the law requires it.

Exhibit 23WarningHarder than usual

You agree to indemnify us, on demand and in full, against all liabilities, damages (including reputational), expenses, penalties, interest, professional costs, and losses (direct or indirect) incurred as a result of:
Clause 18.1 in Client Agreement, p.13
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Every dispute with xChief belongs to the courts of the Comoros

Clause 22.2 of the xChief Client Agreement gives the courts of the Union of the Comoros exclusive jurisdiction, under Comoros law. Clause 15.2 makes the English text prevail over every translation. xChief may assign the agreement to another company, and you may not.

Governing law1 clause flagged

Any claim you bring against xChief must go to the courts of the Union of the Comoros, under Comoros law. The English text of every document prevails over any translation you were given.

Why this matters

Suing xChief means bringing a case on an island in the Indian Ocean. xChief can also transfer your agreement to another company, while you cannot transfer yours.

Exhibit 24WarningStandard wording

shall be subject to the exclusive jurisdiction of the competent courts of the Union of the Comoros, and the Parties hereby irrevocably submit to the jurisdiction of such courts.
Clause 22.2 in Client Agreement, p.15
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xChief can reopen checks on you at any time

Clause 5.1 lets xChief run credit and background checks at any point in the relationship. Clause 7.7 lets it hold an inactive account until you send new documents. Clause 11.13 lets it delay or reject any deposit or withdrawal while it asks for more.

Verification1 clause flagged

xChief can run credit and background checks on you at any point, randomly or for a reason. After a quiet spell it can hold your access until you send new documents. It can also delay or reject any deposit or withdrawal while it asks for more.

Why this matters

A request for documents can freeze a withdrawal, and the contract sets no limit on how long the review may take.

Exhibit 28WarningHarder than usual

Such enquiries may occur at any point during the business relationship.
Clause 5.1 in Client Agreement, p.4
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xChief takes the other side of your trades and pays your introducer

xChief is the direct counterparty and sole venue for every client trade, although its website describes STP/NDD execution straight to the market. Its partner agreement pays introducers up to 8% of their referrals' net deposits, and the partner page offers up to $15 per lot. The same partners help clients register and translate the documents.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Whose side2 clauses flagged

The website says xChief sends trades directly to the market. The contract says xChief is the direct counterparty to all of your trades and the only execution venue, and that it may act as a market maker.

Why this matters

When xChief is on the other side, your loss is its gain. That is the opposite of the pass-through model the advantages page describes.

Exhibit 25WarningStandard wording

We act exclusively as principal in transactions, meaning we are the direct counterparty to all client trades.
Clause 3.2 in Client Agreement, p.3
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xChief's policy says it pays no commission unless it improves your service. The partner agreement pays introducers up to 8% of their referrals' monthly deposits minus withdrawals, and the partner page offers up to $15 per lot. The same partners help you register and translate xChief's documents.

Why this matters

The person explaining the contract to you earns more when you trade more and withdraw less. xChief also shares your personal data with them.

Exhibit 26WarningHarder than usual8%

The Company neither receives nor provides any fee, commission, or non-monetary benefit in connection with the provision of investment or ancillary services to clients, unless such benefit demonstrably enhances the quality of the relevant service delivered to the client.
Clause 3.19 in Conflicts of Interest Policy, p.4
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One Comoros licence behind the claim of several regulators

Every xChief client contracts with xChief Ltd, licensed by the Mwali International Services Authority under T2023379. The FSCA-authorised xChief ZA only markets to South African clients and holds no client money. The new South African addendum says so in clause 4.3, while the Persian site claims supervision by several reputable regulators.

Who you sign with2 clauses flagged

xChief's Persian page says the group works under several reputable global regulators. The English homepage calls it fully regulated. The company you sign with answers to one regulator, the Mwali International Services Authority in the Comoros, and calls itself an offshore liquidity provider.

Why this matters

No regulator outside the Comoros supervises the company that holds your money and takes the other side of your trades.

Exhibit 29WarningStandard wording

xChief is authorised and regulated by the Mwali International Services Authority under licence number T2023379. xChief is not authorised as an over-the-counter derivative provider in South Africa.
Clause 6.4 in South African Client Addendum, p.4
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A new addendum explains that xChief ZA, the FSCA-authorised company, only markets and refers South African clients. It holds no client money, executes no trades and does not handle complaints about your account or withdrawals.

Why this matters

Your contract, your money and a dispute over a withdrawal all sit with xChief Ltd in the Comoros. The addendum keeps your right to complain to a regulator or ombud.

Exhibit 30NoticeStandard wordingNew

does not accept, receive, hold, control or manage any funds deposited by the Client for purposes of funding the Client’s Account;
Clause 4.3(5) in South African Client Addendum, p.3
Read from the broker's site on Open the reference
Set against a regulated standard: FSCA (South Africa)

An FSCA-authorised provider must handle complaints about its own service and belongs to the FAIS Ombud scheme. The addendum limits xChief ZA's service to marketing and referral, so most account complaints go to xChief Ltd instead.

xChief is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page presents segregation as protection, while the notice lets the pooled client account meet xChief's own obligations.

Said in public, in English

Furthermore, we segregate client and broker funds to enhance client protection.

Why xChief? page, Security section

In the contract · clause 8.2

Furthermore, funds held in the Omnibus Account may be exposed to obligations of the Firm arising from the positions of other Clients, should the Firm be unable to meet such obligations.

02

The Persian page promises compensation for xChief's technical failures, and the contract lists system unavailability among the losses it is not responsible for.

Said in public, in Persian

علاوه بر این، ما خسارات مالی ناشی از نقص فنی از سمت خود را جبران می نمائیم.

Word for word in English: In addition, we compensate financial losses caused by technical failures on our side.

Persian Why xChief? page, Security section

In the contract · clause 17.6.a

Unavailability of our systems, except where caused by our misconduct;

03

The page promises compensation, and the contract treats system failures as events outside xChief's control.

Said in public, in English

Additionally, we provide compensation for financial losses incurred due to technical failures on our end.

Why xChief? page, Security section

In the contract · clause 19.1.c

Illegitimate actions, cyberattacks, errors, or failures in systems or technology;

04

The benefit is 30% of the deposit, while the terms pay 30% of the loss, which is less when the loss is partial.

Said in public, in English

In the event of a deposit loss, an Insurance Coverage equal to 30% of the deposit will be credited to your account.

Insurance page, benefits list

In the contract · clause Terms and Conditions

In case of partial or complete loss of the deposit, an insurance payout equal to 30% of the incurred loss, up to a maximum of $10,000, will be credited to the account.

05

Bank payments are sold as instant, and the contract calls every published time an estimate.

Said in public, in English

Instant Banking (Local Bank Transfer, Master/VisaCard, SWIFT, SEPA, TCPay)

Why xChief? page, Deposit and Withdrawal section

In the contract · clause 11.19

While indicative processing times are published on our Website, these are estimates only and may be subject to delays, particularly where additional documentation is required.

06

The page says you pay xChief nothing, and the notice says xChief adds its own mark-up to every price.

Said in public, in English

You do not pay fees to xChief, but the trader you copy may have different fees, such as a management fee, a performance fee or a registration fee.

Copy trading page, FAQ: What fees do I pay?

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of xchief.com

In the contract · clause 4.1

Prices of CFDs include a mark-up, consisting of (i) raw spreads received from liquidity providers, and (ii) an additional mark-up applied by the Firm, where applicable.

07

The Persian page promises a withdrawal without restriction, and its own terms let xChief cancel the bonus and its profit at any time without a reason.

Said in public, in Persian

پس از تکمیل گردش مالی مورد نیاز، 100 دلار را بدون محدودیت، برداشت نمائید.

Word for word in English: After completing the required turnover, withdraw the $100 without restriction.

Persian no-deposit bonus page, benefits list

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of xchief.com

In the contract · clause شرایط و ضوابط

با دریافت بونوس رایگان، شما موافقت می‌کنید که شرکت حق دارد این بونوس و هرگونه سود حاصل از آن را در هر زمان و بدون ارائه دلیل لغو کند.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of xchief.com

08

The Hindi page makes the same promise and adds the same cancellation right with no reason required.

Said in public, in Hindi

आवश्यक टर्नओवर पूरा होने के बाद, $100 बिना किसी प्रतिबंध के निकाला जा सकता है।

Word for word in English: After the required turnover is complete, the $100 can be withdrawn without any restriction.

Hindi no-deposit bonus page, benefits list

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of xchief.com

In the contract · clause नियम और शर्तें

नो-डिपॉजिट बोनस प्राप्त करके, आप बिना कोई कारण बताए किसी भी समय बोनस और इसके माध्यम से प्राप्त किसी भी लाभ को रद्द करने के कंपनी के अधिकार से सहमत होते हैं।

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of xchief.com

09

Three accounts are sold with a 30% stop out, and the policy lets xChief begin liquidating at 50%.

Said in public, in English

Stop Out 30% 30% 30% 50%

Account types table, Stop Out row for CENT, Classic+, DirectFX and xPRIME

In the contract · clause 4.3

Where the Margin Level falls to 50% or below, the Company reserves the right to initiate liquidation of positions

10

The site sells 1:1000, and the risk notice says the maximum is 1:500.

Said in public, in English

Trade with a maximum leverage of up to 1:1000.

Why xChief? page, Trading Conditions section

In the contract · clause 5.2

The maximum leverage offered by the Firm is 1:500, subject to limitations that may apply to certain CFDs.

11

Storage is sold as free, and the contract charges an inactivity fee on every idle account, wallets included.

Said in public, in English

Effortlessly open additional accounts in your Personal Area, manage funds across Trading Accounts , and securely store funds in Transitory Accounts in USD or EUR, all without fees.

Why xChief? page, Trading Conditions section

In the contract · clause 12.7

The inactivity fee applies separately to each inactive Account.

12

Copying traders is the product, and identical strategies across accounts are listed as suspected abuse.

Said in public, in English

With xChief’s Copy Trading Platform, you can automate your trading, copy your favorite traders, set different parameters, risk management settings, and much more with just a few clicks.

Copy trading page, opening paragraph

In the contract · clause 3.5

suspected abusive trading practices such as latency arbitrage or the use of identical strategies across multiple accounts.

13

The site says trades go straight to the market, and the contract says xChief takes the other side of every one.

Said in public, in English

We employ STP/NDD technology to execute trades directly in the market, ensuring swift and efficient trade execution, tight spreads, and transparency.

Why xChief? page, Technology and Development section

In the contract · clause 3.2

We act exclusively as principal in transactions, meaning we are the direct counterparty to all client trades.

14

The Persian page claims several reputable regulators, and the addendum names one Comoros authority for the company you sign with.

Said in public, in Persian

شرکت XCHIEF GROUP تحت نظارت چندین نهاد رگولاتوری معتبر جهانی فعالیت می‌کند.

Word for word in English: XCHIEF GROUP operates under the supervision of several reputable global regulatory bodies.

Persian Why xChief? page, History, credibility and regulation section

In the contract · clause 6.4

xChief is authorised and regulated by the Mwali International Services Authority under licence number T2023379. xChief is not authorised as an over-the-counter derivative provider in South Africa.

15

The homepage says fully regulated broker, and the addendum has the same company call itself an offshore liquidity provider.

Said in public, in English

Trade CFDs with Confidence on MetaTrader with a Fully Regulated Broker

English homepage, main heading

In the contract · clause 6.5(1)

xChief is an offshore liquidity provider;

What changed quietly

Seven of xChief's eight PDFs are unchanged since 4 September 2026. The one new file is a South African Client Addendum, posted after 9 October. The six web pages reviewed last time are still live, with the same wording. This review adds four new items: clauses 11.8 and 20.6, and clause 2.18 of the partner agreement. The fourth is the Persian and Hindi bonus terms, which let xChief cancel profit without giving a reason. We dropped the missing Privacy Policy finding because the policy is published at xchief.com/about/privacy. We also dropped the password clause, because it is standard. Five fee, bonus and margin findings are now warnings rather than critical, because none of them can take money you deposited. The risk score stays at 8.0.

  • ADDEDClause 6.4

    A new South African addendum, posted after 9 October 2026, states that the company South African clients contract with is not authorised in South Africa.

    xChief is authorised and regulated by the Mwali International Services Authority under licence number T2023379. xChief is not authorised as an over-the-counter derivative provider in South Africa.

The documents this reading is based on

13 files, all published by xChief. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording xChief publishes.

How this reading was done

Every clause above was read out of a document xChief publishes itself

This reading was published on . It is the newest of 2 readings we keep of these documents. See every reading.

Documents
13 of 13downloaded from the broker's site, and 13 read in full
Pages opened
86pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Languages
EN vs FA vs HIthe language it advertises in, against the language it contracts in

Who the contract is with

xChief Ltd

Every client contracts with xChief Ltd, registration HY00923433, licensed by the Mwali International Services Authority under T2023379, at Bonovo Road, Fomboni, Moheli, Comoros. xChief ZA (Pty) Ltd, FSP 54829, is authorised by the FSCA as an intermediary only. The South African addendum says xChief ZA holds no client money, is not your counterparty and does not guarantee xChief Ltd.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

Every time we have read this contract

We keep 2 readings of xChief’s documents, newest first. Each one shows what we said at the time.

2 readings

What changed since Sep 4, 2026

The counts below are about our own list of clauses. A clause can join it because the broker added it, or because this reading found something the last one missed.

New on our list
10 clauses
Off our list
9 clauses
We rate critical
8 now, 12 then
Our risk score
8 out of 10, unchanged

The counts above are the totals each reading published. They show that a total moved. They do not yet say which single clause was added or dropped.

  1. CurrentRisk 8/1030 clauses8 critical
  2. Risk 8/1029 clauses12 criticalReplaced

We keep every past reading so you can check what we said before, and when we said it. Those pages are archived snapshots of an older contract, so search engines are asked not to index them.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

xChief's regulation page and the footer on every page say that accounts are opened with xChief Ltd in the Comoros. They also say the FSCA-licensed South African company only introduces clients. Clause 2.7 gives you 14 days to cancel and get your money back, as long as you have not traded. A formal complaint gets an answer within 14 calendar days. Every bonus page prints its turnover formula with a worked example, and the new South African addendum states clearly what the local company does not do.

This review covers all eight PDFs on xChief's legal documents page in full. We also read these live pages: the bonus, insurance, trading credit, deposit and withdrawal, swap-free, margin and privacy pages. The Persian partnership agreement is not covered, because its text is unreadable, so nothing is quoted from it. Every fee figure comes from the live deposit and withdrawal page, not from an older copy. Our language comparison covers the Persian and Hindi bonus pages and the Persian versions of the homepage, the advantages page and the welcome bonus page. No other language is covered.

How to check any of this yourself

Every quote above links to the xChief file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document xChief publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge xChief on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 24, 2026.

If you represent xChief and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on xChief. Whether its licence is real and current is a separate check on the broker profile.

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