Firewoodfx

As broker fees can vary and change, there may be additional fees that are not listed in this firewoodfx review.

It is imperative to ensure that you check and understand all of the latest information before you open a firewoodfx broker account for online trading. Firewood have a selection of different account types to cater to different trader needs. There are self-managed accounts for those who like to trade by themselves using their own manual or automated trading strategies. They also offer copy trading accounts and a PAMM service.

Firewoodfx review

Firewoodfx is an unregulated forex broker located offshore that offers traders around the globe a very limited product range for trading online via the metatrader 4 platforms for desktop, web and mobile devices. The broker has a variety of account types and funding options but no educational resources or standalone trading tools to assist traders.

Firewoodfx review, pros & cons

Easy to use metatrader 4 platform

Fixed spread accounts

Variety of account funding methods

Minimum $10 deposit

No US clients

No regulation

Very limited product range

No educational materials

No standalone trading tools

Limited account currency options

In this detailed firewoodfx review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Firewoodfx is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including firewoodfx.

Firewoodfx review: summary

Firewoodfx is a forex broker based out of saint vincent and the grenadines that offers online trading to clients all over the globe. They provide forex trading platforms for desktop, web and mobile devices running on ios and android. The brokers trading servers and infrastructure are hosted in the equinix NY4 datacenter which is a state-of-the-art financial hub popular amongst online brokerages.

Founded in 2014 by a group of forex trader professionals, the brokers goal is to provide the best forex trading experience to traders. They have won a few awards including the best STP broker 2019 (european CEO awards 2019), best forex trading platform asia 2019 (international business magazine), best STP broker 2018 (european CEO awards 2018), best STP broker in south east asia 2017 (global banking and finance), fastest growing new STP broker asia 2016 (global banking and finance), best new STP broker south east asia 2014 (global banking and finance).

Firewoodfx review: online brokerage awards

Firewoodfx review: regulation

Firewoodfx is a brand owned by firewood global ltd. A company registered in st vincent and the grenadines with registration number: 22160 IBC 2014. Unfortunately, they are an unregulated broker which is a red flag for us. Most professionals would only ever trade with a regulated broker as they can give investors more protection if something was to go wrong. You can see a list of our best trading brokers for regulated alternatives.

Firewoodfx review: countries

Firewoodfx accept clients from most countries although they do not accept clients from the united states of america. Some firewoodfx broker features and products mentioned within this firewoodfx review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers australia, best brokers south africa, best brokers canada or our best brokers for all other countries.

Firewoodfx review: trading platforms

Firewoodfx offer trading anywhere anytime with the popular metatrader platforms for desktop, web and mobile devices (ios & android).

Metatrader 4 desktop platform

Firewoodfx review: metatrader 4 desktop platform

Metatrader 4 offers some of the leading trading and analytical technologies, as well as additional services. It has everything most traders will need for forex trading online. With 50+ built-in indicators and charting tools, multi-language interface, and ability to auto trade your strategies using MQL4 expert advisors (eas). Metatrader 4 also supports copy-trading signal service from metaquotes, the russian company who developed the metatrader platform.

Metatrader 4 mobile platform

Firewoodfx review: metatrader 4 mobile platform

Traders using the metatrader 4 mobile platform can enjoy the powerful functionality for trading forex anytime and anywhere in the world. The entire selection of analytics and trading options are built into the MT4 mobile application. You will find all types of trading orders, 50+ technical analysis tools, convenient chat with other traders, audio and push notifications in your mobile device for continuous trading, wherever you are. The MT4 app is available to download from the relevant app stores.

Metatrader 4 web platform

Firewoodfx review: metatrader 4 web platform

The metatrader 4 web platform allows you to trade forex from any browser and operating system (windows, mac, linux) with no additional software downloads or installations required. All you need is internet connection to access your broker account and start trading in just a couple of clicks. The metatrader 4 web platform features history of trading operations, graphical objects, full set of trading orders, 9 timeframes and more.

Metatrader 4 multi terminal

Firewoodfx review: metatrader 4 multi terminal

The MT4 multi terminal enables users to manage multiple metatrader 4 accounts using a single terminal. Professional traders and money managers can open, manage and close orders in multiple accounts simultaneously, using various trade size allocation methods. Traders are also able to view live market prices and monitor all account balances and equity in real-time. The program interface is very similar to the metatrader 4 client terminal, so any trader who is already familiar with MT4 should easily be able to use the multi terminal program.

Firewoodfx review: trading tools

All of trading tools (apart from a very basic margin calculator) are included in the metatrader platforms. These tools are most likely to be sufficient enough for the average retail forex trader but professional traders may have found some additional standalone tools beneficial.

Firewoodfx review: education

The broker has a forex glossary that includes some of the most popular FX terminologies along with explanations of each. The website has a forex market news section with technical and fundamental analysis of the latest market happenings. There is also a very basic margin calculator and simple explanation of the forex market. We find the educational materials to be significantly lacking and would have preferred some tutorial videos and trading guides to help traders increase their knowledge of trading online.

Firewoodfx review: trading instruments

Firewoodfx have a very limited range of trading instruments. There is a modest selection of forex currency pairs including minor, major and exotic currency crosses. In addition to this, they offer gold and silver cfds. Most online brokerages offer hundreds of instruments covering a range of markets such as stocks, commodities, cryptos, etc.

Forex currency pairs

Gold & silver

Firewoodfx review: trading accounts & fees

Firewoodfx review: broker account types

Firewood have a selection of different account types to cater to different trader needs. There are self-managed accounts for those who like to trade by themselves using their own manual or automated trading strategies. They also offer copy trading accounts and a PAMM service.

The broker has fixed spreads from 1 pip for major FX currency pairs and charges no commission. This does mean that spreads are marked up and likely to be higher than they would be at an ECN broker the majority of the time. Although the spreads are fixed, during low-liquidity period (example: news releases, major economic events, asia session, etc), slippage may occur. Having open positions and pending orders (stop/limit orders,SL/TP) during scheduled economic events are discouraged by the broker.

Leverage of up to 1:1000 is available whilst the minimum trade size is 1000 (0.01) units for forex. Firewoodfx provides 3 account types with 2 options of pricing format:

Micro account

3 pips fix spread on EURUSD and USDJPY

4 pips fix spread on GBPUSD and AUDUSD

01 lot (100 units) min. Trade size (1 cent per pip)

200 lots (2000k units) maximum trade size

$10 minimum deposit

Available in 4-digits pricing format

Standard account

2 pips fix spread on EURUSD and USDJPY

3 pips fix spread on GBPUSD and AUDUSD

01 lot (1000 units) minimum trade size

30 lots (3000k units) maximum trade size

$10 minimum deposit

Available in 4-digits and 5-digits pricing format

Premium account

1 pips fix spread on EURUSD and USDJPY

2 pips fix spread on GBPUSD and AUDUSD

1 lot (10000 units) minimum trade size

50 lots (5000k units) maximum trade size

$100 minimum deposit

Available in 4-digits and 5-digits pricing format

Firewoodfx state that they have no trade restrictions. They welcome expert advisors, news trading strategies, scalping and hedging.

PAMM accounts

The firewoodfx PAMM (percent allocation management module) accounts are a solution for professional fund managers and investors. PAMM is a service that allows traders to manage funds of many investors on a single trading account. The PAMM manager can offer his trading portfolio in the firewoodfx PAMM service, while investors can choose and diversify various portfolios. Any profits are shared and fees processed automatically. It should be noted that there are no guarantees that a PAMM account will be profitable and you should have a clear understanding of the risks involved with trading online.

Forex copy technology

This is a useful tool for both private fund managers and investors. With the forex copy tool, the manager and investor can come to a mutual agreement with specific terms and conditions. Once the mutual agreement achieved, the forex copy will bridge the manager’s trades into investor’s account.

Demo accounts

Firewoodfx have free forex demo trading accounts with $10,000 in virtual trading funds. These accounts can be a good way to familiarise yourself with the trading platforms and also to practice your trading strategies.

As broker fees can vary and change, there may be additional fees that are not listed in this firewoodfx review. It is imperative to ensure that you check and understand all of the latest information before you open a firewoodfx broker account for online trading.

Firewoodfx review: customer service

Firewoodfx provide customer support via online chat, telephone and email.

Firewoodfx review: deposit & withdrawal

At firewoodfx, making deposits is simple and straight forward and most methods are instantly processed. Requesting withdrawals is also simple, they process withdrawals up to 24-hours after the request is confirmed. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant. The broker states that they are constantly striving to offer even more deposit and withdrawal options and to make the process even easier.

Firewoodfx have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems such as neteller, skrill, perfect money, OKPAY, fasapay and unionpay. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. Firewoodfx strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your firewoodfx trading account.

Accounts can be opened in USD. It would be beneficial if there were different currency options as currency conversion fees do not apply when using an account in your own currency.

Firewoodfx review: trading account funding

Firewoodfx review: account opening

It only takes a few minutes to apply for a trading account with firewoodfx and it is a completely online process. Simply fill in the form provided on the brokers website by providing your personal information and answering a few questions.

Firewoodfx review: broker application

Firewoodfx review: conclusion

Firewoodfx is an unregulated offshore forex broker with a limited range of tradeable assets. They do offer the user friendly and powerful metatrader 4 platform that is flexible across multiple devices. There are a variety of account types including fixed spread accounts that may attract traders with certain trading strategies. They also have multiple account funding options. The educational resources are distinctly lacking as are additional trading tools to assist traders. However, the lack of regulation alone if the primary reason we would look for another online broker.

There is a high level of risk involved with trading leveraged products such as forex and cfds. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss.

Firewoodfx

Min deposit

Max leverage

Mini account

Bonus

Platforms

Withdrawal options

Skrill

Neteller

Fasa pay

Perfect money

Credit cards

Wire transfer

Review

Comparison

Review

Introduction

Since firewoodfx is a relatively new name in the forex trading sky, many investors are still not quite familiar with this particular broker house. Luckily, we are here for you, and this in-depth firewoodfx review will give you the most comprehensive overview of this brokerage. Firewoodfx is under the ownership of firewood global LTD, and this global financial enterprise was established in 2014. Firewoodfx is an STP brokerage (straight through processing), and this company’s headquarters is located in the tax haven of st. Vincent and the grenadines. The registered address is suite 305, griffith corporate centre, kingstown. Read on to discover if firewoodfx is a broker you can trust, or you should keep your hard-earned cash as far away from them as possible.

Trading conditions

Due to the fact that the forex market is saturated with all sorts of broker houses, it is essential for them to offer an attractive and a pleasant trading environment if they want to sign new clients and investors. Firewoodfx is trying hard to offer favorable trading conditions to clients from all across the globe. For instance, this brokerage only offers fixed spreads, and the leverage that they provide can go up to 1:1000. Minimum lot size is 0.01, and they do not charge commissions. To summarize all that, firewoodfx is somewhere in the middle when it comes to the modern-day forex market, and this brokerage will probably satisfy your trading needs and preferences, but at the same time, you should not expect any kind of extravagant or top-shelf services.

Products

Novice traders who sign up firewoodfx will have the opportunity to use a demo account and to try out all the features of the trading terminal. For those investors who feel confident about their trading abilities, firewoodfx has prepared two types of accounts – standard and premium. When it comes to the standard account, clients have a starting spread of 2 pips, with a maximum of five lots. The premium account will give more favorable trading conditions, but the minimum deposit requirement for opening this type of account is $100. Firewoodfx provides investors with 38 currency pairs, and there is also an islamic type of trading accounts which complies with the sharia-law.

Regulation

As we all know, st. Vincent and the grenadines belongs to a relatively small circle of caribbean countries which offer various versions of financial services. However, a lot of people have fears and concerns in regards to those so-called tax haven, and it can be said that some of those fears have a legitimate background. Off-shore companies are notorious for their scam operations and malicious intent, but this does not seem to be the case with firewoodfx. As we could see during our examination of their activities in preparation of this firewoodfx review, this particular STP broker behaves in a trustworthy and reliable manner. The brokerage is licensed and regulated by the FSA (financial services authority) and it is registered in st. Vincent and the grenadines under the number 22160 BC 2014.

Platforms

Since firewoodfx is a relatively new brokerage, they have been able to incorporate into their website only the most modern and the most sophisticated trading tools and features. In other words, they picked only the best stuff, and a clear example of this policy is their choice in regards to the trading software. Firewoodfx uses metatrader4, a platform which is used across the forex trading world, and this trading terminal has been on the scene ever since 2005 when it was developed and introduced by metaquotes corp. Metatrader4 uses its proprietary MQL4 scripting language, and firewoodfx has also enabled SSL encryption on their website. As we all know, metatrader4 comes equipped with a powerful arsenal of charts, tools, and more than 50 helpful trading indicators. Real-time analysis and expert advisors are highly appreciated by modern-day traders, and these features can significantly improve your portfolio and make your profits more lucrative.

Mobile trading

With the development of social media and smartphones, the financial world was also forced to make adjustments. Nowadays, almost all brokerages offer a mobile version of their websites, and firewoodfx is no exception. Their software package is optimized for the use on android, ios and windows mobile devices. By offering this option, firewoodfx has enabled traders to invest at any time and from anywhere.

Pricing

As we already said earlier in our firewoodfx review, this brokerage only offers fixed spreads. With no commissions, their minimum lot size is 0.01 pips. The starting spread for the standard account is 2 pips, and all of this indicates that firewoodfx stays within the industry standards when it comes to charging fees and offering spreads and leverages.

Deposits & withdrawals

Even though you should always be slightly cautious when depositing funds with offshore companies, firewoodfx is a company that promises stability and protection of your funds by keeping them in segregated accounts of their top-notch partner banks. When it comes to deposits and withdrawals, they can be made through several money-transfer services, such as credit cards, wire transfer, neteller, skrill, perfect money, etc. Deposits are being handled in the so-called instant processing manner, and for the withdrawals – you could be forced to wait 2-3 days, depending on your preferred withdrawal method. Also, firewoodfx usually charges a small fee (around 1%) on the withdrawal requests.

Customer support

The importance of having an exemplary customer support service is not something that is unknown to people behind firewoodfx. For this reason, their support teams are available at any time, 24 hours a day, and their representatives are very polite and quite helpful. Firewoodfx provides assistance in multiple languages, and you can contact their team through several means of communication, such as telephone, email, live chat, and so on. Additionally, there is a web-based contact form with a call-back option.

Research & education

To be honest, firewoodfx does not provide anything outrageous or amazing when it comes to educational materials, but novice clients will have enough learning opportunities once they join this brokerage. For instance, text articles explaining what is forex and why you should invest in these markets will give you the basic knowledge about the online trading world. Aside from those, firewoodfx also offers a glossary, margin calculator, and news section.

Noteworthy points

Promotions and competitions are certainly important elements that we need to mention in this firewoodfx review, simply because we all love free stuff, don’t we? Firewoodfx will give you a 20% bonus on your first deposit, which has to be over $100. Also, there is a trading bonus available with firewoodfx, and many traders are exploiting the benefits of these incentives and promotional activities.

Conclusion

Our firewoodfx review has taken into consideration all there is to know about this particular trading company. It is up to you now to decide if your money will be wisely invested through firewoodfx. According to most sources, this brokerage offers a reliable and professional service, and recently they introduced social trading via zulutrade and tradecopy, which shows their desire to innovate and improve their services and products

Comparison

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Firewoodfx cashback

0.8 pips | IB code: 2145005952

What is firewoodfx cashback

Firewoodfx cashback is the return of part of the trading spread or commission that you pay to the broker when opening an order. We offer firewoodfx cashback 80% of IB revenue, $1.6 pips, 0.8 pips for standard account, and 0.08 pips for VIP account. Firewoodfx cashback are given to close orders both loss and profit. Besides cashback you will also get up to 5% loyalty bonus and reward points 1% of the rebate you receive.

Firewoodfx profile

broker data
company name : firewoodfx global ltd
founded : 2014
headquarters : saint vincent and the grenadines
regulated by : –
broker type : STP

Firewoodfx is an online global forex broker. This company was founded by a group of professional forex traders. Firewoodfx team members have extensive experience in the financial industry.

Firewoodfx offers traditional 4-digit pricing with fixed spreads from 1 pip. Combined with modern STP execution to our global liquidity providers. As we want to reach every layer of traders, our minimum trade size is 1000 units. The low trade size provides more flexibility for a trader’s financial management plan.

The aim of firewoodfx is to provide traders with the best forex trading experience, by providing the best experience, the client’s profit will increase and the client’s trading volume will increase, which is a win-win situation for both the company and the client

As firewoodfx partner we provide a rebate of 80% of the IB commission which is paid directly to your trading account.

Firewoodfx cashback & account types

The following is firewoodfx account types comparison, if there are different account types or trading conditions between our website and the firewoodfx website, this is due to late updates on our website. Opening live account through us to get rebates does not change the trading conditions of the broker and there is no markup spread/commission or hidden fees, if you are still in doubt please contact firewoodfx support.

Firewoodfx review – is it a scam or legit broker (2021)

In this firewoodfx review, we are going to take a look at the offer that this broker prepared for its traders. Firewoodfx operates on the financial market since 1995. When it comes to trading platforms, the broker features webtrader. The firewoodfx minimum deposit is 10 USD.

Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this firewoodfx review

website address:	firewoodfx.Com
operated by:	firewood global ltd.
Licensed and authorised by regulatory bodies:
supported languages:	english
customer support available via:	E-mail, phone
contact details:	[email protected], +442036083558
available deposit methods:	bank transfer, VISA, mastercard, fasapay, local exchangers, neteller, perfectmoney, skrill, unionpay
available withdrawal methods:	bank transfer, VISA, mastercard, fasapay, local exchangers, neteller, OKPAY, perfectmoney, skrill
minimum deposit:	10 USD
min. Trade in lots:	0.01
spreads:	typical spread on the currency pair EUR/USD - 3,0 pips * on standard account type
tradable assets:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the european union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in australia and possibly in other jurisdictions.

Firewoodfx fees (typical spreads)

We have scanned fees (typical spreads) that firewoodfx charges when trading popular currency pairs, here is their breakdown in pips.

*typical spreads were recorded on 17.01.2020 at 21:29 for the standard account. Firewoodfx spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: bcrcorp, fullertonmarkets, windsorbrokers and robomarkets

Frequently asked questions

�� is firewoodfx a scam?

In accordance with our research, firewoodfx is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that firewoodfx is not a scam, read our trader reviews and check other popular trading related websites and forums.

�� what is the firewoodfx minimum deposit?

In order to start trading with firewoodfx, you have to deposit at least 20 USD (trading accounts can also be held in USD).

�� what deposit and withdrawal methods firewoodfx supports?

We don’t have our own personal experience with firewoodfx. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider. While there is a decent chance that firewoodfx is not a scam, there is no reason to take the risk of trading trade with an unregulated broker, especially when considering there are hundreds of brokers regulated in the EU, australia, africa and the USA offering similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and cfds, you can get your hands on our marketing broker IQ option – 85% of retail CFD accounts lose money , which is a cysec regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you can afford to take the high risk of losing your money.

¹ variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.

Trading platform

Metatrader 4 PC

Simply the best trading platform available. With 50+ built-in indicators and charting tools, multi-language interface, and ability to autotrade your strategy using MQL4.

Metatrader 4 also support copy-trading signal service from metaquotes.

Metatrader 4 mobile

Go to appstore, and install metatrader 4 (https://apps.Apple.Com/id/app/metatrader-4/id496212596)

Select “login with existing account”.

In the search box type firewoodfx and you will see our server names appear

Choose your server (refer to the server field of your login ID in login pop-up on your PC).

Go to google play, and install metatrader 4 (https://play.Google.Com/store/apps/details?Id=net.Metaquotes.Metatrader4)

Select “login with existing account”.

In the search box type firewoodfx and you will see our server names appear

Choose your server (refer to the server field of your login ID in login pop-up on your PC).

Metatrader 4 web

The metatrader 4 web platform currently features:

History of trading operations

Graphical objects

Full set of trading orders

9 timeframes

Access your account at firewoodfx web trading and start trading in just a couple of clicks.

Metatrader 4 multi terminal

Professional trader and money manager can open, manage and close orders in multiple accounts simultaneously, using various trade size allocation methods. Trader is also able to view live market prices and monitor all accounts balance and equity in real-time. The program interface is very similar to the metatrader 4 client terminal, so any trader can easily use this program in short time.

Simply the best forex trading platform. Mobile platform also available.

Start trading forex in 5 minutes. Get 20% deposit bonus.

Free $10000 forex virtual trading account. Practice makes perfect.

HIGH RISK NOTICE

Firewoodfx does not accept clients from the united states of america.

CONTACT US

LATEST FOREX NEWS

Firewoodfx review and ratings

Availability

Firewoodfx accepts clients from all over the world, excluding USA.

Distinctive features

Simple registration and verification process.

Fixed 1.0 pips spread at EURUSD and USDJPY (no commission charged).

Own copy-trading service (forexcopy) offered for the clients.

Trading instruments

Forex broker offers the following underlying assets for trading.

30+ currency pairs	based on major and minor world currencies.
2 metal spot cfds	based on gold and silver.

Comprehensive review

Firewoodfx is an online forex & CFD broker based out of the caribbean, more specifically in saint vincent and the grenadines. As an offshore broker in this jurisdiction, traders should understand that it is not regulated by any government agency, which may put a trader at risk should anything unexpected happen with the broker.

Although we have not heard about any specific complaints regarding firewoodfx, it should be mentioned that there are no security mechanisms in place for clients in the event of insolvency for example. This differs from brokers registered in places like the EU, UK, australia, and japan, where investor protection funds are set up to compensate clients in these cases.

However, no regulation also comes with certain benefits that aggressive traders can take advantage of, such as a high leverage of up to 1:1,000 and a minimum deposit of only USD 10. This means that it may be possible to generate high returns quickly for anyone who knows how to properly control risk.

Despite its registered business address being in the caribbean, this broker has a strong local presence in south east asia, with a large community of traders in indonesia, judging from the website’s available traffic data, as well as its facebook activity.

Having a nice and clean design, the broker’s website includes most information a trader would ever need, although some more details in the “about us” section would be appreciated to help build more credibility. The website is available in english, indonesian, and chinese, and the broker accepts clients from all countries with the usual exception of the united states.

The broker offers its users 4 account types to choose from:
– micro account with spreads from 3 pips
– standard account with spreads from 2 pips
– premium account with spreads from 1 pip
– islamic account with swap-free trading

All account types offer commission-free trading and fixed spreads, which explains why the spreads offered are wider than what has become standard with other brokers. However, all traders should consider their own trading style and calculate what makes the better deal for them; commission-free trading with wide spreads, or tight spreads with larger commissions.

Firewoodfx offers the standard metatrader 4 (MT4) platform as its only trading platform, although it is available in both the web-based version and the downloadable desktop version for windows computers.

In addition, the broker offers algorithmic copy-trading, or auto-trading via a web-based platform known as forexcopy, as well as a “social trading” experience via the zulutrade platform, which also lets traders automatically follow the trades made by other more experienced traders.

In terms of promotions and bonuses, firewoodfx actually has a fairly good offering with this line-up:
– A 20% deposit bonus for anyone who makes an initial deposit of more than USD 100
– regular trading contests with cash prizes for 1st to 5th place
– A reward program that rewards traders who trade more with bonuses up to USD 5,000.

Deposits and withdrawals can be made with all major credit and debit cards, as well as international bank transfer (SWIFT). In addition, the broker also accepts several regional money transfer services in vietnam, thailand, and indonesia, making it easy for traders in this part of the world to join.

Unlike card payments, which will be charged a fee, deposits from these local payment services are processed free of charge by the broker. The same fee structure also applies to withdrawals from the trading account.

Lastly, firewoodfx’s customer service is largely email-based, with only one UK phone number listed online for the company’s head office in saint vincent and the grenadines. No information is known about customer support working hours.

Firewoodfx review

Firewoodfx review, pros & cons

Easy to use metatrader 4 platform

Fixed spread accounts

Variety of account funding methods

Minimum $10 deposit

No US clients

No regulation

Very limited product range

No educational materials

No standalone trading tools

Limited account currency options

In this detailed firewoodfx review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Firewoodfx review: summary

Firewoodfx review: online brokerage awards

Firewoodfx review: regulation

Firewoodfx review: countries

Firewoodfx review: trading platforms

Firewoodfx offer trading anywhere anytime with the popular metatrader platforms for desktop, web and mobile devices (ios & android).

Metatrader 4 desktop platform

Firewoodfx review: metatrader 4 desktop platform

Metatrader 4 mobile platform

Firewoodfx review: metatrader 4 mobile platform

Metatrader 4 web platform

Firewoodfx review: metatrader 4 web platform

Metatrader 4 multi terminal

Firewoodfx review: metatrader 4 multi terminal

Firewoodfx review: trading tools

Firewoodfx review: education

Firewoodfx review: trading instruments

Forex currency pairs

Gold & silver

Firewoodfx review: trading accounts & fees

Firewoodfx review: broker account types

Leverage of up to 1:1000 is available whilst the minimum trade size is 1000 (0.01) units for forex. Firewoodfx provides 3 account types with 2 options of pricing format:

Micro account

3 pips fix spread on EURUSD and USDJPY

4 pips fix spread on GBPUSD and AUDUSD

01 lot (100 units) min. Trade size (1 cent per pip)

200 lots (2000k units) maximum trade size

$10 minimum deposit

Available in 4-digits pricing format

Standard account

2 pips fix spread on EURUSD and USDJPY

3 pips fix spread on GBPUSD and AUDUSD

01 lot (1000 units) minimum trade size

30 lots (3000k units) maximum trade size

$10 minimum deposit

Available in 4-digits and 5-digits pricing format

Premium account

1 pips fix spread on EURUSD and USDJPY

2 pips fix spread on GBPUSD and AUDUSD

1 lot (10000 units) minimum trade size

50 lots (5000k units) maximum trade size

$100 minimum deposit

Available in 4-digits and 5-digits pricing format

Firewoodfx state that they have no trade restrictions. They welcome expert advisors, news trading strategies, scalping and hedging.

PAMM accounts

Forex copy technology

Demo accounts

Firewoodfx review: customer service

Firewoodfx provide customer support via online chat, telephone and email.

Firewoodfx review: deposit & withdrawal

Accounts can be opened in USD. It would be beneficial if there were different currency options as currency conversion fees do not apply when using an account in your own currency.

Firewoodfx review: trading account funding

Firewoodfx review: account opening

Firewoodfx review: broker application

Firewoodfx review: conclusion

Firewoodfx

Credit/debit cards

Fasapay

Neteller

Perfect money

Skrill

Tether (USDT)

Unionpay

Wire transfer

Account types:

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $10

Maximum account size $500,000

Minimum position size 0.01 lot

Spread type fixed

Spread on EUR/USD, pips 2

Scalping allowed

Expert advisors allowed

Trading instruments

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $100

Minimum position size 0.1 lot

Spread type fixed

Spread on EUR/USD, pips 1

Scalping allowed

Expert advisors allowed

Trading instruments

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $10

Minimum position size 0.01 lot

Spread type fixed

Spread on EUR/USD, pips 3

Scalping allowed

Expert advisors allowed

Trading instruments

Reviews

3 reviews of firewoodfx are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

Firewoodfx provides trading facilities that is quite imporessive. Simple registration requirements; you do not need to upload any documents, unless you want to claim promotional bonuses. For indonesian traders, in particular, long deposit and withdrawal can be shortened due to deposit and withdrawal facilities via local exchangers. Firewoodfx's commitment to indonesian traders is excellent, as seen from the fixed exchange rate of rp 10,000 which applies special firewoodfx to indonesian traders. Determination of the exchange rate can benefit traders because no longer disadvantaged by the spread of the selling rate - the buying rate when making deposits and withdrawals. As well as the permissibility of various trading styles like hedging, scalping, and the use of trading robots, make firewoodfx suitable for those who are just starting their trading career in the forex world. Better yet, the minimum deposit set is low, and clients can trade using leverage up to 1: 1000.

Firewoodfx before brexit is fine, but now firewood have a problem. Spread on EURUSD premium account not sinc, on marketwatch and request order 1 pip, and support said cant fix the problem.. To me, its not comfort, sad broker

When I am looking for a low spreads broker, I stumble upon firewoodfx banner in a forex trader forum.

I click it, because I am interested with their marketing speech: "spreads starts from 1 pip fixed"

After I read their site, I decided to open premium account with them and deposit $400.

As an EURUSD scalper. I found my favorite playing ground. I can put tight stop losses (usually i put 5.0-7.0 pips SL with 10.0-15.0 pips TP).

And surprise, after evaluate my profit and loss for 6 weeks trading and withdraw nearly 115% from my equity, I never got any problems with my trading style. It does not like any other brokers, firewood does not even complaining with my trading styles. The executions quality is always the same, and withdrawal always smooth.

I think , I found my dream broker. Will try to stay here , and maybe will try their PAMM feature next to multiply my earnings

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Exchanger

Local deposit/withdrawal rate

country/currency	deposit	withdrawal
malaysia (MYR market rate)	market rate	market rate
indonesia (IDR fix rate)	IDR 10000	IDR 10000
thailand (THB market rate)	market rate	market rate
china (CNY market rate)	market rate	market rate
vietnam (VND market rate)	market rate	market rate

Here are the list of our exchanger partner :

currency	profile	contact
	VND	tailieuforex.Com is one of the most popular forex websites in vietnam. We provide safe and reliable services, professional and friendly supports which bring traders a good enviroment for investing. Join us to experience our services now!.	Http://www.Tailieuforex.Com [email protected]
	IDR	forexonlinechanger.Com is the best forex local exchanger in indonesia. For indonesian only using BCA, mandiri, BNI, and BRI, largest bank in indonesia. Located in jakarta, trusted since 2008. Enjoy fast and secure automatic deposit transaction through 256-bit secure sockets layer encryption.	Https://www.Forexonlinechanger.Com [email protected]
	IDR	flazzchanger is one of trusted local e-currency changer in indonesia and member of the largest indonesia forum KASKUS, we process transaction in flazz time. We accept bank BCA, bank BNI, bank mandiri and bank BRI. We also accept exchange another e-currency like neteller, perfect money, webmoney, etc.	Http://www.Flazzchanger.Com/ / http://www.Flazzchanger.Info/ [email protected] / [email protected]
	IDR	saburaichanger.Com is local exchanger in indonesia. We use the best broker. For indonesian only using BCA, mandiri, BNI, and BRI. We give service to client for 24 hours.	Http://www.Saburaichanger.Com/ [email protected]
	IDR	fast and trusted exchanger. Fast deposit and withdrawal processing. Open for 24 hours with complete local bank selection.	Http://www.Universalexchanger.Com/ [email protected]
	IDR	sentraegold.Net is trusted local exchanger in indonesia since 2004. Competitive rate to in deposit and withdrawal also serve to exchange e-currency easy exchange process and supported with friendly customer service.	Http://www.Sentraegold.Info [email protected]
	IDR	firewoodfxjakarta.Com is one of the official exchanger of firewoodfx. We exclusively provide exchanger service for firewoodfx. Your satisfaction is our goal!	Http://www.Firewoodfxjakarta.Com [email protected]
	IDR	ISIFOREX.COM is trusted indonesian local e-currency changer with best rate since 2013. It provides withdrawal and deposit service for many premium e-currencies and brokerages around the world. Easy exchange process by serving local bank BCA, mandiri, BNI BRI and supported with friendly customer service	http://www.Isiforex.Com [email protected]
	IDR	agenpembayaran net is the trusted payment solutions for forex brokers and ecurrencies since 2007, with friendly customer supports, rates, swift and secure processing.. Come join us to experience our best payment solution.	Http://www.Agenpembayaran.Net/ [email protected]
	IDR	forex basecamp is a trader social media website, first and only one in indonesia that provides many options broker in one IB for all members who have joined us . We provide an attractive feature and easy to achieve mutual benefits and developments, including ease of depositing and withdrawing funds.	Https://fxbc.Live/id/broker/firewoodfx [email protected]
	IDR	firewoodfxrebate.Com is trusted IB and local exchanger firewoodfx full support and fast respon providing weekly rebate, we accept deposit and withdrawal using indonesia local bank, BCA, mandiri, BRI etc.	Http://www.Firewoodfxrebate.Com [email protected]
	IDR	FWNETS is an official partner of firewoodfx. A trader, investor or partner can join in FWNETS and get a fast and professional service, also have consult and coach team which supporting each other. FWNETS deliver trading system and business that can provide exceptional income. With the excitement of teamwork and powerful network.	Http://www.Fwnets.Com [email protected]
	IDR	forexperia – xperienced FX trading. Serving FX traders since 2011. We came up with new IB's networking concept to bring convenience , simplicity and trust for indonesian traders.	Http://forexperia.Com [email protected]
	IDR	forex rebate changer (FRC) is a sub-field of the master IB forexrebate90percent.Com of some boker and forex rebate provider of reliable national standard. We highly value the safety of customer funds (client), which is why FRC only working with brokers who have outstanding reputation.	Http://forexrebatechanger.Com/ [email protected]
	IDR	ijolpedia by tinafx, active as trader since 2001. Since 2006 we start to serve traders doing deposit and withdrawal with the best service.	Http://www.Ijolpedia.Com [email protected]
	IDR	discover financial markets success way you here.	Http://valas.Online/ [email protected]
	IDR	firewoodfxindonesia.Com is one of the official partner of firewoodfx and the best exchanger for the sale and purchase firewoodfx balance in indonesia.	Http://www.Firewoodfxindonesia.Com [email protected]
	IDR	omahforex adalah penyedia layanan rebate (cashback) forex secara global dari broker-broker populer dan terpercaya, kemanan dana anda adalah prioritas kami.	Http://www.Omahforex.Com [email protected]
	IDR	rebate BFX is a deposit and withdrawal with a reliable forex broker, get with the ease of transaction services of our best services. Immediately register and select a broker that match your criteria. And get our weekly cashback rebate. We always work with professionals for customer satisfaction.	Www.Bfxrebate.Id [email protected]
	IDR	prenfx.Com is a reliable forex rebate , deposit and withdrawal services in indonesia since 2015.	Http://www.Prenfx.Com/ [email protected]
	IDR	welcome to firewoodfx-expo. We concern to be the best local exchanger in indonesia, we help all traders doing deposit or withdrawal your trading account quickly, safely and with competitive price. We provide safe and reliable services, professional and friendly supports which bring traders a good enviroment for trading. We accept serving local bank BCA, bank BNI and bank mandiri. Visit us and enjoy your fast and secure automatic deposit and withdrawal.	Http://www.Firewoodfx-expo.Com [email protected]
	IDR	stasiuntrader is trader community, we share signal and education about forex..	Https://stasiuntrader.Com/b_firewoodfx/index.Php [email protected]
	IDR	WARUNG BROKER is new comer in IB's service.. Will give the best service for firewoodfx's client	http://www.Warungbroker.Com [email protected]
	IDR	allchanger.Com one of the most experience for online exchanger in indonesia. We serve forex brokerage currencies also e-currencies. We will do our best to serve our customers with fast and safety services. We accept local bank payment method BCA,mandiri,BRI,BNI.	Http://www.Allchanger.Com [email protected]
	IDR	central changer is an indonesian local exchanger serving deposit and withdrawal of affiliated and non affiliated accounts, 7×24 non stop automatic deposit process and automatic withdrawal process from central changer website.	Http://www.Centralchanger.Com [email protected]
	IDR	aqsolgold forex changer & IB multi broker a has good license and credibility with a fast proced deposit withdrawal via local bank indonesia BCA mandiri BRI and others.	Http://www.Aqsolgold.Com [email protected]
	IDR	changer99 is one of the best exchangers in indonesia. Fast and safe with an easy and reliable process with 24-hour service transactions at competitive prices that serve local banks BCA, mandiri, BNI BRI.	Www.Changer99.Com [email protected]
	IDR	welcome to ceskyforexchanger we provide fast and responsive exchanger services to our clientsone of the proud exchanger partner of firewoodfx global.	Www.Ceskyforexchanger.Com/ [email protected]
	IDR	provide the best service for 24 hours, with a deposit method of more than 10 local banks such as BCA BRI BNI MANDIRI PANIN MEGA PERMATA and we also accept deposits via credit card.	Www.Tukarbinary.Com/ [email protected]
	IDR	unochanger.Com is one of the firewoodfx official exchanger in indonesia that serves firewoodfx dollars for sale with several local bank options. We serve all members who are in cities in indonesia by prioritizing FAST, SECURE, EASY, RELIABLE services with FIX RATE. And we also receive deposits and withdrawals from firewoodfx members outside of our affiliates.	Www.Unochanger.Com/ [email protected]
	IDR	we have been in forex business since 2007 as an IB, exchanger, and a forex trader as well. We have many loyal members which are trade in the forex broker companies that we introduce. We can be trusted and we also have several forex programs for our clients.	Www.Ibforex.Top/ [email protected]
	IDR	changer999 is the best local payment agent in indonesia. We serve deposit and withdrawal for our clients to our partners, only the best forex broker in the world. For our customer satisfaction, we provide services to four big local banks which are BCA, MANDIRI, BNI, and BRI. Changer999 -your trust partner- in forex business.	Www.Changer999.Com/ [email protected]
	IDR	your reliable partner since 2007	www.Harvesterforex.Com/ [email protected]

Firewoodfx shall not responsible of local exchanger’s performance.

So, let's see, what we have: unbiased firewoodfx review updated in 2021: read the facts you must know before you open a firewoodfx broker account for online trading. At firewoodfx