Score
Saint Vincent and the Grenadines
|
5-10 years
|
Environment AA
|http://www.fwfxasia.com/
Website
Rating Index
Environment
AA
Average transaction speed (ms)
MT4/5
Full License
FirewoodFX-Demo
Influence
C
Influence index NO.1
Colombia 2.89Speed：B
Slippage：B
Cost：C
Disconnected：AA
Rollover：AAA
MT4/5 Identification
Full License
United StatesInfluence
C
Influence index NO.1
Colombia 2.89
LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
WikiFX Data provide
WikiResearch fwfxindonesia.com firewoodfxasia.com fwfxidn.net fwfxasia.com firewoodfx.com| Firewood FX Review Summary | |
| Founded | 2014 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Unregulated |
| Market Instruments | Forex, Gold, Cryptos, Oil, etc. |
| Demo Account | ✅ |
| Leverage | Up to 1:3000 |
| Spread | From 2 pips (Standard account) |
| Trading Platform | MT4 |
| Min Deposit | $10 |
| Customer Support | Live chat, contact form |
| Tel: +442036083558 | |
| Email: support@firewoodfx.com | |
| Address: Suite 305, Griffith Corporate Centre, Beachmont. St. Vincent and the Grenadines | |
| Regional Restrictions | The United States, North Korea, Iraq, Iran, Saint Lucia and Saint Vincent and the Grenadines |
Based in Saint Vincent and the Grenadines, FirewoodFX is an unregulated forex broker that was established in 2014. FirewoodFX provides various financial products to trade via the MT4 platform, including Forex, Gold, Cryptos, Oil and more. Demo accounts are available and the minimum deposit requirement to open a live account is only $10.
| Pros | Cons |
| Various trading options | Unregulated |
| Demo accounts | Regional restrictions |
| Cent account offered | |
| Multiple account types | |
| Commission-freefor most accounts | |
| Low minimum deposit | |
| Multiple payment options | |
| Live chat support |
No, FirewoodFX is not regulated by any reputable financial body. Please be aware of the risk!
| Tradable Instruments | Supported |
| Forex | ✔ |
| Gold | ✔ |
| Cryptos | ✔ |
| Oil | ✔ |
| Indices | ❌ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
FirewoodFX offers five accounts to choose from, including Cent, Micro,Standard, Premium and ECN accounts. Besides, it also sets up demo accounts for traders to practice trading with virtual credit. Islamic swap free accounts are available.
| Account Type | Min Deposit | Max Trade Size | Min Trade Size |
| Cent | $10 | 100 cent lot (100,000) | 0.01 cent lot (1,000) |
| Micro | 200 micro lot (200,000) | 0.01 micro lot (100) | |
| Standard | 30 lot (3,000,000) | 0.01 lot (1,000) | |
| Premium | 50 lot (3,000,000) | ||
| ECN | $200 |
FirewoodFX provides leverage up to 1:3000 for Cent account and up to 1:1000 for other accounts. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
| Account Type | Max Leverage |
| Cent | 1:3000 |
| Micro | 1:1000 |
| Standard | |
| Premium | |
| ECN |
FirewoodFX offers different spreads for different accounts. The broker charged $7/lot for ECN account and commission-free on other accounts.
| Account Type | Spread | Commission |
| Cent | Floating from 1 pip | ❌ |
| Micro | Fixing from 3 pips | ❌ |
| Standard | Fixing from 2 pips | ❌ |
| Premium | Floating from 0.3 pip | ❌ |
| ECN | Floating from 0 pips | $7/lot |
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web, PC, Mac, mobile and tablet | Beginners |
| MT5 | ❌ | / | Experienced traders |
| Payment Options | Accepted Currencies | Min Deposit | Fees | Processing Time |
| Bank Transfer | USD | $100 | Bank fees may apply | 24 hours |
| QRIS | IDR | IDR 100,000 | ❌ | Few minutes |
| Internet Banking (Indonesian Local Bank) | $10 | |||
| Virtual Account (E-Wallet) | ||||
| USD Tether TRC20/BEP20 | USTD | $1 | ||
| USD Coin BEP20 | ||||
| IDRX BEP20 | IDRX | |||
| Credit Card | USD | $50 | $0.5+ 5% | Instant deposit |
| Perfect Money | $1 | ❌ | ||
| Fasapay | USD, IDR | |||
| Thai QR Payment | THB | $10 | Few minutes |
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
Country/Region
Disclosure time
2022-02-02
Disclose broker
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
Country/Region
Disclosure time
2022-02-02
Disclose broker
Based in Saint Vincent and the Grenadines, FirewoodFX is an unregulated forex broker. FirewoodFX provides various financial products to trade via the MT4 platform, including Forex, gold, cryptos and oil.
Spreads vary: the ECN account offers floating spreads from 0 pips; Premium starts from 0.3 pips; Cent has floating spreads from 1 pip; Standard has fixed spreads from 2 pips; and Micro has fixed spreads from 3 pips. These spread differences reflect the account's cost structure and target trader type.
FirewoodFX offers accessible entry with low deposits, multiple account types, high leverage, and commission-free trading on non-ECN accounts. However, it operates without regulation, has limited tradable assets, and enforces regional restrictions, which limits its global accessibility.
Some deposit methods may incur fees. For example, credit card deposits are charged $0.5 plus 5%. Other methods, such as Fasapay, QRIS, and Perfect Money, are listed as free of charge. Always confirm with the payment provider.
FirewoodFX offers the MetaTrader 4 (MT4) platform, a globally trusted system known for its ease of use, charting capabilities, and support for Expert Advisors (automated trading). It is accessible via web, desktop, and mobile devices.
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Juan1332
Indonesia
1. There is a mysterious open position, and the open price doesn't have a candle in meta 2. The position symbol is active, but it doesn't appear on the market watch list so the EA I have doesn't continue the existing position 3. The minus floating value can suddenly increase by hundreds times, even though the open position remained the same and the time lag was not long (seconds) 4. Because I was desperate, all my accounts were cut... but when I cut loss and I did a wd, the meta balance was minus... 5. Everyone complained ignored and tend to avoid.
Exposure
Randem
Australia
Minimum deposit is reasonable, but the platform's trading tools could be more advanced. Still, it gets the job done.
Neutral
FX1167949839
United Kingdom
It has been a whole month of trading here and I have to admit that I have enjoyed trading with this broker. The broker's pricing is fair and I have not seen any hidden commissions. The MT4 has always been a great trading platform.
Positive
重新戒烟
Taiwan
Ultra-low minimum deposit requirements are just amazing, yes, very friendly, making me feel confident to get started. Having been using demo accounts for two days, everything goes well. I cannot wait to try a real one.
Positive