Independent rating of Forex broker FirewoodFX
0/10 (votes 100)
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On-line since
2014
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Country of origin
Saint Vincent and the Grenadines
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Regulation
-
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Payment options
electronic payment system, wire transfer, credit cards
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Minimum account size
$10
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Minimum lot size
0.01 lot (100 units)
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Leverage
1:1000
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Spreads
fixed, from 1 pip
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About company
FirewoodFX was founded by a group of professional forex traders. The FirewoodFX brand is owned by Firewood Global Ltd.
Trading conditions
- FirewoodFX offers four-digit prices with a fixed spread
- expert advisor, news digest, scalping, hedging, and robot trading
- 20% deposit bonus to cover a negative balance
- swap-free/Islamic account
- access to cross-connect via VPS
- FirewoodFX gives traders a choice of several types of trading accounts: Standard, Premium, and Micro. The company also provides the opportunity to open a demo account
- mobile trading via iPhone, Android, iPad, and iPod
Trading platform
FirewoodFX offers its customers the MetaTrader 4 (MT4) trading platform. The broker highly appreciates this platform as it has fifty built-in indicators and charting tools. The MetaTrader 4 trading platform is also popular among traders thanks to its multilingual user interface and automated trading with MQL4.
Bonuses, promotions, and contests
From time to time, FirewoodFX launches contests and gives rewards to traders for each new client invited to FirewoodFX. Notably, quite often the company encourages its clients to grab a chance and get a 20% bonus for a $100 deposit or more.
Support service
You can get advice and callback from the FirewoodFX support team via live chat, email, and phone number specified on the website.
Traders’ reviews
On various Internet websites and forums, former clients of FirewoodFX often call the company scammers and Forex kitchen. Clients also complain about problems with money withdrawal. Some customers say that they have been trying to get their money back for a few years. The lion's share of traders unanimously recommend avoiding FirewoodFX. Positive reviews about the company are less common and are not as emotional as negative ones.
Advantages:
- demo account
- attractive bonus program and rewards
- low minimum deposit
- no trading restrictions
Disadvantages:
- problems with money withdrawal
- support service often ignores requests from traders
