FirewoodFX
Published: Updated:
- Trust score
- 3/10
- Legal simplicity
- 4/10
- Min. deposit
- 10
- Trading platforms
- Instruments
- Forex, Metals, Indices, Energies, Cryptocurrencies
- Legal entity
- Firewood Markets Ltd
- Jurisdiction
- Saint Vincent and the Grenadines
- Fees
- Standard, ECN and Cent accounts differ in pricing, with ECN quoting raw spreads against a per-lot commission. Overnight swaps apply, and swap-free accounts are available on request.
- Withdrawals
- Withdrawals return to the funding method and are normally processed within one business day, with e-wallet and cryptocurrency payouts arriving fastest.
- Available in
Features
- Low minimum deposit
- PAMM accounts
- Copy trading
- Islamic accounts
- Deposit bonus
- Scalping allowed
- Affiliate program
Pros
- No specific advantages reported
Cons
- No specific drawbacks reported
FirewoodFX is an offshore Forex broker founded in 2014 and based in Saint Vincent and the Grenadines, serving clients worldwide except the United States. It runs on MetaTrader 4 with three fixed-spread account tiers, a $10 minimum deposit, and leverage up to 1:1000. The broker also offers PAMM accounts and copy trading through its ForexCopy platform.
FirewoodFX is an offshore broker offering PAMM accounts, copy trading, Islamic accounts, and a $10 minimum deposit.
Overview
FirewoodFX is an offshore Forex broker founded in 2014 and based in Saint Vincent and the Grenadines. It accepts clients worldwide except the United States and lists the FSA (Financial Services Authority) as its regulator.
Regulation and Safety
FirewoodFX is regulated offshore rather than by a major-hub regulator such as the FCA, CySEC, ASIC, or a US regulator, so client funds don't carry the same insurance protections found in those jurisdictions. In exchange, the broker offers a simple account-opening process, leverage up to 1:1000, and a minimum deposit of just $10.
Account Types
- Micro account: spreads from 3 points.
- Standard account: spreads from 2 points.
- Premium account: spreads from 1 point.
All three trade on fixed spreads with no commission. Islamic (swap-free) accounts are available across all tiers.
Trading Platforms
MetaTrader 4 is the only trading terminal, available as a desktop download for Windows and as a web terminal. FirewoodFX also runs ForexCopy, a web-based social trading tool for copying other traders, plus a PAMM service for managed accounts.
Instruments
FirewoodFX offers more than 30 Forex currency pairs plus gold and silver, covering the most commonly traded assets without matching the broader instrument ranges of larger brokers.
Deposits, Withdrawals, and Bonuses
The minimum deposit is $10. Funding methods include SWIFT bank transfer, credit and debit cards, and payment systems such as China UnionPay, PerfectMoney, FasaPay, Skrill, Neteller, and Tether. A withdrawal fee applies.
Promotions include a 20% bonus on deposits over $100, regular trading contests paying the top 1-5 traders, and a loyalty program offering bonuses up to $5,000.
Broker Facts
| Founded | 2014 |
|---|---|
| Headquarters | Saint Vincent and the Grenadines |
| Regulation | FSA |
| Platforms | MetaTrader 4 |
| Minimum deposit | $10 |
| Maximum leverage | 1:1000 |
| Base currency | USD |
| Assets | Currency pairs, metals |
| Islamic accounts | Available |
| PAMM accounts | Available |
| Support | 24/5 |
Verdict
FirewoodFX suits traders who want a low entry cost, high leverage, and social or PAMM trading, and who accept the reduced oversight that comes with an offshore FSA license. Check current reviews and compare it against our broker ranking before committing funds.
Trading conditions
FirewoodFX offers Standard, ECN and Cent accounts on MetaTrader 4, with high leverage and low minimum deposits. The Cent account allows very small position sizes, which makes it usable for testing a strategy live.
There is no proprietary platform. The offering competes on cost, leverage and payout speed.
Hedging, scalping and Expert Advisors are permitted without restriction.
Verification
Verification requires photo ID and a proof of address, normally reviewed within one business day and required before the first withdrawal.
Saint Vincent registers companies but does not license or supervise forex business. There is no leverage cap, no conduct rulebook, no complaints mechanism and no compensation scheme. Any regulatory claim beyond that registration should be checked directly against the named regulator's own register before it is believed.
