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FirewoodFX -

Score

2.22 /10
Danger

FirewoodFX

Saint Vincent and the Grenadines

5-10 years

Suspicious Regulatory License

MT4 Full License

Global Business

High potential risk

http://www.fwfxasia.com

Benchmark

B

Influence

C

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Comparison

Quantity 1

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.42

Risk Management Index0.00

Software Index8.34

License Index0.00

Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

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2022-02-02
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Danger

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2022-02-02
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Broker Information

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Company Name

Firewood Global Ltd

Company Abbreviation

FirewoodFX

Platform registered country and region

Saint Vincent and the Grenadines

Company website

X

Facebook

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2025-01-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

FirewoodFX · Benchmark
Average transaction speed(ms)
613.7
The highest transaction speed(ms)
375 Poor
The highest speed of opening positions(ms)
375 Poor
The highest speed of closing position(ms)
453 Poor
The lowest speed of opening positions(ms)
1953
The lowest speed of closing position(ms)
828 Great
Ranking： 85 / 125
Test user 139
Transactions 7,483
Ocuppied margin $347,329 USD
Data Source WikiFX Data provide
Updated: 2024-12-30 01:12:00

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
Expose
Data Source WikiFX Data provide
Updated: 2025-01-01
FirewoodFX · Company summary
Firewood FX Review Summary
Founded2014
Registered Country/RegionSaint Vincent and the Grenadines
RegulationUnregulated
Market InstrumentsForex, Gold, Cryptos, Oil, etc.
Demo Account✅
LeverageUp to 1:3000
SpreadFrom 2 pips (Standard account)
Trading PlatformMT4
Min Deposit$10
Customer SupportLive chat, contact form
Tel: +442036083558
Email: support@firewoodfx.com
Address: Suite 305, Griffith Corporate Centre, Beachmont. St. Vincent and the Grenadines
Regional RestrictionsThe 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.

FirewoodFX's homepage

Pros and Cons

ProsCons
Various trading optionsUnregulated
Demo accountsRegional restrictions
Cent account offered
Multiple account types
Commission-freefor most accounts
Low minimum deposit
Multiple payment options
Live chat support

Is FirewoodFX Legit?

No, FirewoodFX is not regulated by any reputable financial body. Please be aware of the risk!

No license

What Can I Trade on FirewoodFX?

Tradable Instruments Supported
Forex✔
Gold✔
Cryptos✔
Oil✔
Indices❌
Stocks❌
Bonds❌
Options❌
ETFs❌

Account Type

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 TypeMin DepositMax Trade SizeMin Trade Size
Cent$10100 cent lot (100,000)0.01 cent lot (1,000)
Micro200 micro lot (200,000)0.01 micro lot (100)
Standard30 lot (3,000,000)0.01 lot (1,000)
Premium50 lot (3,000,000)
ECN$200
Account comparison

Leverage

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 TypeMax Leverage
Cent1:3000
Micro1:1000
Standard
Premium
ECN

Spread and Commission

FirewoodFX offers different spreads for different accounts. The broker charged $7/lot for ECN account and commission-free on other accounts.

Account TypeSpreadCommission
CentFloating from 1 pip❌
MicroFixing from 3 pips❌
StandardFixing from 2 pips❌
PremiumFloating from 0.3 pip❌
ECNFloating from 0 pips$7/lot

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT4✔Web, PC, Mac, mobile and tabletBeginners
MT5❌/Experienced traders
MT4

Deposit and Withdrawal

Payment OptionsAccepted CurrenciesMin Deposit Fees Processing Time
Bank TransferUSD$100Bank fees may apply24 hours
QRISIDRIDR 100,000❌Few minutes
Internet Banking (Indonesian Local Bank)$10
Virtual Account (E-Wallet)
USD Tether TRC20/BEP20USTD$1
USD Coin BEP20
IDRX BEP20IDRX
Credit CardUSD$50$0.5+ 5%Instant deposit
Perfect Money$1❌
FasapayUSD, IDR
Thai QR PaymentTHB$10Few minutes
Deposit and Withdrawal

News

NewsFirewoodFX: Claim Your $20 Free Welcome Bonus for Trading

FirewoodFX, a well-known broker in the forex market, has recently launched an exciting new campaign: a $20 free welcome bonus for new and existing traders. This initiative is designed to help traders enhance their skills and strategies while gaining valuable trading experience.

WikiFX
2024-07-07 08:30
FirewoodFX: Claim Your $20 Free Welcome Bonus for Trading
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User Reviews

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User comment

5

Comments

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Randem
more than one year
Minimum deposit is reasonable, but the platform's trading tools could be more advanced. Still, it gets the job done.
Minimum deposit is reasonable, but the platform's trading tools could be more advanced. Still, it gets the job done.
Translate to English
2024-08-06 19:12
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FX1660082315
more than one year
Good broker overall and havent had any issues, however their swap fees seem extremely high. Im.not sure if this changed or what but I don't remember them being this high. Had a series of trades that closed out with only 40 or 50$ profit should have been more then double without swap fees. I get there's gotta be some but 50% is ridiculous.
Good broker overall and havent had any issues, however their swap fees seem extremely high. Im.not sure if this changed or what but I don't remember them being this high. Had a series of trades that closed out with only 40 or 50$ profit should have been more then double without swap fees. I get there's gotta be some but 50% is ridiculous.
Translate to English
2024-03-28 10:15
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