FirewoodFX Review – Top Best and Most Trusted Forex Broker in the World, Choose from more than 3000+ including forex, stocks, commodities, indices and crypto.
Founded in 2014，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. 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. FirewoodFX accept clients from most countries although they do not accept clients from the United States of America.
Markets 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.
Minimum Deposit
The minimum initial deposit required by FirewoodFX is as low as $10, which is quite low.
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.
Leverage
Leverage of up to 1:1000 is available whilst the minimum trade size is 1000 (0.01) units for forex trading, which is considered high.
Spreads & Commissions
FirewoodFX 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.
Trading Platform Available
FirewoodFX offer trading anywhere anytime with the popular MetaTrader platforms-MT4, available for desktop, web and mobile devices (iOS & Android).
Deposit& Withdrawal
FirewoodFX have a variety of 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.
Customer Support
FirewoodFX provide customer support via online chat, telephone and email. Bank transfers may take a few business days to clear whilst some methods can be instant.
FirewoodFX Details
