WikiFX

Reply

From my professional perspective as a trader, CHIEF's regulatory background carries considerable weight in risk assessment. While CHIEF has operated for over 20 years and claims regulation under Hong Kong's SFC (Securities and Futures Commission), I observed on their WikiFX assessment that their SFC license specifically for dealing in futures contracts has been revoked or is otherwise noted as “suspicious,” which immediately raises concerns for me. Regulation by bodies like the SFC usually means requirements around client fund segregation, periodic audits, and strict operational standards, all of which are designed to help protect investors from fraud or mismanagement. However, when a license is revoked, these protective layers may no longer be in force. Personally, I am very cautious trading with any broker whose primary license has been revoked, as regulatory oversight is a key safeguard of my deposited capital. I also noticed CHIEF does not operate MT4/5 platforms and restricts tradable assets to securities and futures—there is no forex trading offered. For me, the limited regulation and the loss of their previous license means the usual assurances—like recourse to the regulator, dispute mediation, and mandatory fund protection schemes—may not apply. Therefore, while longstanding history in the region is somewhat reassuring, the actual regulatory support that would usually safeguard client funds appears uncertain. I strongly recommend carefully verifying the current status of their regulatory standing and considering alternative, fully regulated brokerages if fund safety is your priority.