FIREWOODFX

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Advantages:

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Disadvantages:

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About company:

FirewoodFX offers to trade over 30 currency pairs - both popular and exotic, as well as gold and silver.

Company. Fund security

FirewoodFX is another offshore regulated Forex broker. This brand is owned by Firewood Global Ltd., which is registered in Saint Vincent and the Grenadines - another coastal Caribbean area, is a financial services area with low broker regulation, maximum secrecy and zero income and capital gains tax. This island is a popular destination for Forex brokers, some of which have a bad reputation.

Generally, offshore brokers should be avoided regardless of their requirements, and even if they say they are regulated, as we said, the rules and requirements are quite minimal. Even worse, these brokers are not required to keep clients' money in segregated accounts and participate in client compensation schemes, which means that if they go bankrupt, their clients will lose their money.

Trading conditions

FirewoodFX offers three types of trading accounts: micro, standard and premium. The broker also provides the opportunity to open a demo account, two types. A PAMM account and automated trading via ZuluTrade and TradeCopy are also available.

As for the spreads, they are fixed and differ depending on the account. So, on Micro they start from 3 pips, on Standard - from 2 pips and on Premium - from 1 pip.

The maximum leverage available in the company reaches 1: 1000. We need to warn traders that this looks more like a scam. Since the broker is registered in an offshore zone. If you want to trade with 1: 1000 leverage, we advise you to invest money in another broker, which you can find in our rating.

Trading platforms

FirewoodFX offers trading on the popular MetaTrader 4 (MT4) platform. It is mainly used for margin trading. Allows users to program their own strategies and signals, and this feature is one of the main reasons for its popularity. The user terminal itself provides real-time trading operations, charts and technical analysis. It includes 50 basic indicators that can be further customized.

The broker also provides automatic trading through two platforms: TradeCopy and ZuluTrade.

Promotions

FirewoodFX issues several types of bonuses. The first is the trading bonus for standard and micro accounts. It is available for every FirewoodFX standard lot closed within 30 days of the first deposit. There is also a 20% deposit bonus for deposits over $ 100.

Support service

The company has live chat, one phone number and email addresses for different regions: China, Philippines, Indonesia, and a single mail for traders from all over the world.

Ways of payment

FirewoodFX accepts deposits via bank transfers, credit / debit cards, global electronic payment systems Neteller, Skrill, FasaPay, OKPay, Perfect Money. Customers can also deposit funds through electronic payment services on the Thailand exchange and the exchange in Indonesia.

Pros:

low minimum deposit; several trading platforms; demo account.

Minuses:

not regulated; a small selection of trading instruments; the site is not Russified; dangerously high leverage.

FAQ - BROKER QUESTIONS FIREWOODFX

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Can the broker FIREWOODFX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. FIREWOODFX received a rating of 1 out of 5 on our resource.