Overview
FirewoodFX was founded in 2014 and was created to provide simple trading solutions in forex. The company bases its trading conditions on clients that discern client's profit on the business. The broker competes heavily through its competitive trading service and includes a user-friendly platform for beginning and emerging traders.
- Founded
- 2014
Strengths and watchouts
- Leverage up to 1:3000
- Comprehensive platform selection, including MT4
- Competitive pricing with transparent fee structures
- Swap-free Islamic Accounts Available
- 24/5 multilingual customer support
- No Compensation Fund or Civil Liability Insurance
- Does not offer access to cryptocurrencies, individual stocks, or ETFs
- Some withdrawal methods incur fees
Safety and regulation
For now, FirewoodFX is an offshore broker that is not regulated by any of the top-notch financial authorities. Client fund-centric business since FirewoodFX highly describes safekeeping in a segregated account. Nevertheless, there are not any offerings surpassing the standard fees for financial protection by the company.
- SVG FSA
Between 70% and 85% of retail investor accounts lose money when trading CFDs with most regulated providers — the exact figure for any specific broker is published on that broker's own website. Consider whether you understand how these instruments work and whether you can afford the high risk of losing your money.
Markets available
- Forex
- Indices
- Metals
- Energy
- CFDs
- Cryptocurrency
Account types
| Account | Min deposit | Commission | Leverage |
|---|---|---|---|
| Cent | $0 | 1.0 | 1:1 to 1:3000 |
| Micro | $0 | 3.0 | 1:1 to 1:1000 |
| Standard | $0 | 2.0 | 1:1 to 1:1000 |
| Premium | $0 | 0.3 | 1:1 to 1:1000 |
| ECN | $0 | 0.0 | 1:1 to 1:1000 |
Fees and costs
Fixed-spending with a starting point of 2.0 pips is provided by FirewoodFX in two distinctive accounts, 1.0 pips for Premium Account, both with no charges falling under the trading category of fees. Swap-free Islamic accounts are provided upon request, with no charges incurable. FirewoodFX does not charge for inactivity and may sometimes be a better choice for occasional traders.
How we reviewed this broker
Each broker review documents the broker's claimed regulators, cross-references them against the public registers (FCA, CySEC, ASIC, FSCA, BCC and others), and notes any divergence. Where a regulator has issued a public advisory, the URL is cited inline so a reader can verify it directly. Tradable instruments, account types, and fees are sourced from the broker's published disclosures or documented as unavailable. The full scoring methodology is public.
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