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joalund
Within 1 year

What are the primary advantages and disadvantages of trading with CHIEF?

Broker Issues
CHIEF
Regulation
02-20
United States
WikiFX
Reply

From my experience as a trader examining brokers for safety and functionality, CHIEF presents a nuanced platform with some clear advantages and notable drawbacks. On the positive side, the company's long operational history—established in 1979—suggests a certain level of stability, and its prior regulation with Hong Kong’s SFC once offered me a degree of reassurance regarding compliance and oversight. Their proprietary trading platform, Chief Deal, is accessible on mobile and tailored for securities and futures, which could be useful for those focusing on Hong Kong markets. Additionally, commission rates for online trading are fairly transparent and low, with some projects reportedly commission-free, which, in my view, can help manage trading costs. However, I am cautious about several critical issues. Foremost, CHIEF no longer holds an active SFC license for futures contracts, a red flag that undermines trust and signals a higher risk that prudent traders should not ignore. The platform currently lacks support for MT4/MT5, meaning I can’t use industry-standard tools or automated strategies often essential to my workflow. Importantly, there are no demo accounts available, which restricts my ability to test systems with zero financial risk before committing capital. The offering is also limited to securities and futures—forex and other asset classes are not supported—so diversification is hampered. Given its revoked license status and higher risk profile, I would only consider CHIEF suitable for experienced, well-informed investors who are focused specifically on Hong Kong securities and futures—and even so, only after thorough due diligence and careful assessment of current regulatory standing.

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