FirewoodFX

FirewoodFX is a Forex broker founded in 2014 and registered in Saint Vincent and the Grenadines. It accepts clients from all over the world except the USA.

FirewoodFX-a regulated broker?

FirewoodFX is an offshore brokerthat does not have such reliable regulation as in the EU, the USA, the UK and Australia, where customer funds are insured for a large amount in case of the broker's insolvency. Nevertheless, the status of an offshore broker has a number of advantages, including a simple account opening process, a large leverage of up to 1:1000 and a minimum deposit of only 10 US dollars. This means that you can quickly get high profits for those traders who like aggressive trading and are able to control their risks.

What trading accounts does FirewoodFX offer?

FirewoodFX broker offers its clients a choice of 3 types of accounts:

1. Micro-account with spreads of 3 points or more.
2. A standard account with spreads of 2 points or more.
3. Premium account with spreads from 1 point.

All types of accounts offer trading with a fixed spread without commission. This explains why the offered spreads are wider than those of other brokers. However, traders should take into account their own trading style and calculate what is more profitable for them - trading without commission with wide spreads or narrow spreads with higher commissions. Moreover, an Islamic account with trading without swaps is available on all types of accounts.

FirewoodFX Trading Platforms

FirewoodFX offers the standard MT4 platform as the only trading terminal, although it is available forboth in the web version and in the downloadable desktop version for Windows computers.

In addition, the broker offers social trading through a web platform known as ForexCopy, which allows traders to automatically track transactions made by other more experienced traders, as well as a PAMM service.

Trading instruments

FirewoodFX offers trading in more than 30 Forex currency pairs, as well as gold and silver.

Minimum deposit and bonuses in FirewoodFX

The minimum deposit in FirewoodFX is only$10. You can top up your deposit using an international bank transfer (SWIFT), credit and debit cards, payment systems China UnionPay, PerfectMoney, FasaPay, Skrill, Neteller, Tether, etc. As for promotions and bonuses, FirewoodFX offers the following:

• 20% bonus on the initial deposit for deposits from$100;
• regular trading contests with cash prizes for 1-5 places;
• a loyalty program that rewards traders for active trading with bonuses up to $ 5,000.

Conclusions

FirewoodFX is an offshore Forex broker founded in 2014 in Saint Vincent and the Grenadines. It offers trading with fixed spreads from 1 point without commissions, high leverage up to 1: 1000, a minimum deposit of$ 10, social trading and PAMM accounts, as well as various contests and bonuses.

Before choosing a broker, we recommend that you read the reviews of FirewoodFX, as well as see our rating of Forex brokers.