FirewoodFX Forex Broker

Firewood FX Review SummaryFounded2014Registered Country/RegionSaint Vincent and the GrenadinesRegulationUnregulatedMarket InstrumentsForex, Gold, Cryptos, Oil, etc.Demo Account✅LeverageUp to 1:3000SpreadFrom 2 pips (Standard account)Trading PlatformMT4Min Deposit$10Customer SupportLive chat, contact formTel: +442036083558Email: support@firewoodfx.comAddress: Suite 305, Griffith Corporate Centre, Beachmont. St. Vincent and the GrenadinesRegional 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.Pros and ConsProsConsVarious trading optionsUnregulatedDemo accountsRegional restrictionsCent account offeredMultiple account typesCommission-freefor most accountsLow minimum depositMultiple payment optionsLive chat supportIs FirewoodFX Legit? No, FirewoodFX is not regulated by any reputable financial body. Please be aware of the risk!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 SizeCent$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$200Leverage 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 LeverageCent1:3000Micro1:1000StandardPremiumECNSpread and Commission FirewoodFX offers different spreads for different accounts. The broker charged $7/lot for ECN account and commission-free on other accounts.Account TypeSpreadCommissionCentFloating from 1 pip❌MicroFixing from 3 pips❌StandardFixing from 2 pips❌PremiumFloating from 0.3 pip❌ECNFloating from 0 pips$7/lotTrading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔Web, PC, Mac, mobile and tabletBeginnersMT5❌/Experienced tradersDeposit and WithdrawalPayment OptionsAccepted CurrenciesMin Deposit Fees Processing TimeBank TransferUSD$100Bank fees may apply24 hoursQRISIDRIDR 100,000❌Few minutesInternet Banking (Indonesian Local Bank)$10Virtual Account (E-Wallet)USD Tether TRC20/BEP20USTD$1USD Coin BEP20IDRX BEP20IDRXCredit CardUSD$50$0.5+ 5%Instant depositPerfect Money$1❌FasapayUSD, IDRThai QR PaymentTHB$10Few minutes