xChief Ltd (Registration number: HY00923433, License number: T2023379, Registered office: 1257 Bonovo Road, Fomboni, Comoros) is licensed by the Mwali International Services Authority as International Brokerage and Clearing House pursuant to International Companies Act 2006. The basic concept of the project is creation of a unique platform for online trading in currency contracts and precious metals on conditions of margin trading. The foundation of the project's technological infrastructure is built on the STP/NDD model, avoiding not only a conflict of interest between the company and the client, but also, in general, increasing service quality by means of narrow spreads and high speed trading order execution.

As the basic platform, xChief offers MetaTrader 4/5, the most popular trading platform for forex trading. Separately, institutional clients who offer broker services should note the STP-gate integrated into MetaTrader 4/5 that can connect liquidity through a regular trading account on the MetaTrader 4/5 platform with minimum labor input.

The company pays special attention to the technical stability of the trading servers and software that is provided to the client for trading operations. The technologies developed for liquidity aggregation, as well as their system, administration are based on cluster solutions. This means that a high level of reliability under abnormal loads can be maintained (especially where there is a large number of client orders coming to the trading server when economic news has been published).

The line of xChief account types includes CENT accounts, whose balance exceeds that of standard accounts a hundredfold. This way, for instance, if a trader refills a cent account with USD 100, and that transfer is successfully completed, the amount of 10,000 (i.e., a hundered times more) will be credited to the account, since USD cents is the account currency in this case. "Cent" accounts are an indispensable tool, both for beginners, whose experience does not allow them to invest significant capital, and for professionals, whose goals are fine tuning and testing trading robots in real market conditions. Also, this type of account provides an opportunity to test the platform comprehensively without risking a large deposit.

It is important to note that only client orders with the size from 1,000 units of the base currency, which corresponds to 0.01 of a lot on MT4.DirectFX, MT4.Classic+, MT5.DirectFX and MT5.Classic+ accounts, will be transmitted to counterparties. This way, for all orders whose size is below 1,000 units of the base currency, the company acts as a dealer (the "second party" of the transaction).

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xChief Details

Company Name				xChief Ltd
Country				Mwali
Year Open				2014
Headquarters				Mwali
Offices				N/A
Employees				10+
License				M.I.S.A T2023379
Regulatory Authorities				M.I.S.A.
USA Clients				No
Japanese Clients				Yes
European Clients				Yes
Canadian Clients				Yes
Restricted Countries				Please be aware that xChief Ltd does not provide services in certain regions, and the information on this website is not intended to be distributed or used by any person in any country or jurisdiction where such distribution or use would be contrary to applicable law or regulation.

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Regulatory Authority

Agency				MWALI INTERNATIONAL SERVICES AUTHORITY
Short Name				M.I.S.A.
Country				Mwali
Min Capitalization				N/A
Government Enforced Segregated Accounts				No
Description				The Union of the Comoros is made up of four independent and autonomous islands: Mwali (Mohéli), Maoré (Mayotte), Ndzuwani (Anjouan), N’gazidja (Grande Comore). Mwali island is divided into territorial decentralized collectivities representing the sovereign people. In 1998, after gaining independence and autonomy from the previous Republic, the Government of Mohéli adopted the Mwali Services Law 1998, a pioneering legislation for the incorporation of companies, including regulated financial entities and gaming casinos. This law was later amended in 2001. According to the Constitution of Comoros Union, each island has total freedom and autonomy, including having its own Constitution, President or Governor, and Parliament. The Constitution also gives «each island shall administer and manage its affairs freely». Mwali island has its own financial sector, which is not regulated by the Central Bank of Comoros, and its own internal legislation on the control and management of the Offshore Financial Services sector since 1998. The Constitution of Mwali further supports the independent Companies Registry, Banking, Trading, and Gaming, stating that the organization of administrative, commercial, or industrial entities and units and fairs and markets shall fall within the jurisdiction of each autonomous island. Articles 36-38 of the Constitution of Mwali provide more details on the island's public and private patrimony, including the M.I.S.A., and the capacities of promotion and regulation of private investment. The transitory provision in Article 63 confirms the continued authority of the Mwali International Services Authority, the only Authority for the autonomous territory of Moheli (Mwali), responsible for financial services and licensing. In 2013, the government made amendments to the licensing law for banking and other activities, and in 2019, new regulations were implemented for virtual currencies. Currently, the M.I.S.A. has registered over 25000 companies, which includes 6 insurance companies, 9 gambling companies, 84 trust and brokerage companies, and 24 international banks. Notably, the Mwali register is the largest international companies register in Africa. In addition, IBC (International Business Company) companies can be registered online on the same day or within 24 hours, making the process quick and efficient.
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