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 | Not verified | 1.0 | 1:1 to 1:3000 |
| Micro | Not verified | 3.0 | 1:1 to 1:1000 |
| Standard | Not verified | 2.0 | 1:1 to 1:1000 |
| Premium | Not verified | 0.3 | 1:1 to 1:1000 |
| ECN | Not verified | 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.
Read the full methodology →Focused research pages
- RegulationFirewoodFX regulation and safety checks
- Account openingFirewoodFX minimum deposit and account-opening checks
- Minimum depositFirewoodFX minimum deposit and funding threshold checks
- Company backgroundFirewoodFX company background and entity checks
- RatingFirewoodFX rating context and methodology checks
- SafetyFirewoodFX safety, funds protection and entity checks
- Pros and consFirewoodFX pros, cons and trade-off checks
- FeesFirewoodFX fees, minimum deposit and cost checks
- MarketsFirewoodFX markets and product availability checks
- Public reputationFirewoodFX public reviews and reputation checks
Frequently asked questions
Is the broker regulated?
'I guess FirewoodFX goes offshore up to now and so, has no regulation from top financial authorities.
What trading platforms are available?
Actually, FirewoodFX already has MetaTrader 4, mobile trading, and Web trading.
How much is the minimum deposit to open an account?
With only $10, traders from all different levels should be looking into FirewoodFX.
What are the company's account types?
On this platform, traders can choose from these accounts: Standard, Premium, Micro, and even Demo, to suit each trading need.
What charges are related to fees and commissions?
Trading fixed spread from 1.0 pips on its Premium Account is shielded with no commission on trades.
What happens to the extent of leverage allowed?
Leverage will start from 1:1000 depending on the account and the trading instrument.
Can somebody make use of demo accounts?
The site subtly states one can use demo accounts to practice perusal without financial risk on virtual funds.
How does one reach the customer service?
Customer service has live chat, email, and phone-call options for during-business hours, and languages are managed.