Firewood Fx Review

MIN. DEPOSIT $10
Up to 1000:1
20% deposit BONUS
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Firewood Fx
20% deposit
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Overview

Company Information Let us introduce you an online broker with quite an attractive name that is very uncommon for the industry – FirewoodFX. The company was founded in 2014 by… more

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Details

BrokerFirewood Fx
Website URLhttp://www.firewoodfx.com/
Founded2014
HeadquartersKingstown, Saint Vincent and the Grenadines.
Support Number+4233769291
Support Emailsupport@firewoodfx.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Indonesian, Chinese
Minimum 1st Deposit$10
Minimum Trade Amount0.01-0.1 lots (Standard-Premium)
Maximum Trade Amount5-50 lots (Standard-Premium)
Bonus20% deposit
PayoutUp to 1000:1
Free Demo AccountYes
Regulated Yes
RegulationThe Financial Services Authority of St. Vincent & the Grenadines
Account TypesStandard, Premium
Deposit MethodsBank Transfer, China UnionPay, Visa, MasterCard, Neteller, Skrill, Thailand Exchanger, Indonesia Exchanger, PerfectMoney, OkPay, FasaPay
Withdrawal MethodsBank Transfer, Visa, MasterCard, Neteller, Skrill, Thailand Exchanger, Indonesia Exchanger, PerfectMoney, OkPay, FasaPay
Types of AssetsForex, Metals
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Let us introduce you an online broker with quite an attractive name that is very uncommon for the industry – FirewoodFX. The company was founded in 2014 by a group of professionals in the branch represented by Firewood Global Ltd. as a legal entity. The company is currently based in the islands of St. Vincent and The Grenadines, and it’s registered with number 22160 IBC 2014. To be more specific their headquarters can be found in Suite 305, Griffith Corporate Centre, Kingstown. FirewoodFX is an STP type of broker with excellent reputation despite its recent appearance on the global financial services stage. The attractive trading conditions and complete dedication to their clients have made the broker a great choice experienced traders and new clients. FirewoodFX is strictly regulated by the FSA and abides by all decisions of the authority. According to the online broker, its ultimate goal is to provide the great trading environment for traders with both limited and extensive investing capabilities. FirewoodFX is surely nothing special in the world of financial trading nowadays. However, the new traders can greatly benefit from this broker as it will guide them in their first steps in the exciting investing branch.

 

Trading Information

The broker is a dedicated provider to a wide range of Forex currency pairs. Majors, crosses and even exotic can be traded by the clients in a highly pleasant environment. FirewoodFX has a strict policy to offer only fixed spreads on all financial instruments it offers. Leverage can go up to 1:1000 with no commissions involved in the trading process. Stop out levels are set to 20%. Clients are free to choose from two different account types – Standard and Premium. The differences are few. Standard profiles have spreads starting from 2 pips, 0.01 lots minimum, and five lots maximum trade size. The online broker allows Islamic account creation, as well as many traditional tactics in the Forex trading world, such as hedging, scalping and algorithmic trading (via EA or other). In fact, both account types offered by FirewoodFX are focused on the small retail traders rather than any “big fishes”  or institutions.

 

Trading Platforms

Like many other online brokers from the industry, FirewoodFX offers access to the most famous trading platform of all. MetaTrader 4, which is created by MetaQuotes Corp. in 2005, is still one of the best trading solutions out there. The software is completely equipped with a substantial arsenal of tools, indicators, and charts to help the client with the predictions. Beginners in the world of Forex may be confused with MT4 at first. However, a few days are enough to get familiar with the most needed helpful stuff included in the trading platform. Luckily, clients who want to trade through their mobile devices will be able to take advantage of MT4 as well. The trading software is correctly adjusted for both Android and iOS. MetaTrader 4 is also available as a web-based platform. In other words, the popular toolkit will be completely accessible from every browser on every device. Another excellent compatibility features of the best trading platform of all.

 

Security and Customer Services

Despite its early appearance on the global Forex stage, FirewoodFX managed to gain popularity with its dedication to the client and financial stability of a senior brokerage company. Like many other serious online brokers, this one is no exception. FirewoodFX follows all the security conventions and directives that keep the customers’ fund safe. All accounts of the firm are segregated in first-class banks and the sensitive data stored on the servers is well guarded. Also, the broker uses SSL encryption on their website applied to the data processing pages. The security measure is certified and verified by GlobalSign.

 

The customer services are also highly regarded as exemplary. FirewoodFX’s representatives can be quickly reached out via telephone, email and live chat. They are polite and proficient in handling various issues. There are multiple languages supported, and the online broker even provides dedicated email support for China, Indonesia, and the Philippines. The clients can also get in touch by filling up a web-based contact form and even get a callback.

 

Deposits and Withdraws

There is a huge number of transaction methods available for both deposits and withdrawals. Of course, the most famous are presented, such as bank wire transfers debit/credit cards and e-wallets. However, there is also an option called “Local exchanger” available for China, Thailand, Indonesia, and Malaysia. The offer is great for local clients from the listed countries. The regular deposit methods are usually handled without any fees, but some of them may employ a certain percentage as an extra charge (from 2.5% to 5%). Minimums are in the range of $1 to $100. Account types also use required min amount – Standard profiles are opened with $10 and Premiums with $100. There is no processing time, except for the bank wire transfer. As for withdrawals, minimums in the range of $1 to $100 are also applied there. The transaction may take up to 3 days, which include processing time and verification process. There are no additional costs except for credit cards, bank wire transfer and Skrill (1%, but only above $5000).

 

Deposit Bonus and Loyalty Program

FirewoodFX has 20% bonus on the first deposits above $100 and the promotion apply for Standard accounts only. The extra cash can be easily rolled over when the closed trading volume is more than the bonus amount divided by 5. After the condition is met, the client is free to withdraw the money anytime.

 

Extra deposits also participate in an excellent bonus program. Up to 30 days after deposit, the trader can win $10 on every lot closed trade. Again Standard accounts are eligible, and the bonus money should be requested within 60 days after the start of the promotion.

 

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