In this FirewoodFx Review, we are going to take a look at the offer that this broker prepared for its traders. FirewoodFx operates on the financial market since 2014. When it comes to trading platforms, the broker features WebTrader and MetaTrader 4. The FirewoodFx minimum deposit is 10 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this FirewoodFx Review
| Website address: | firewoodfx.com |
| Operated by: | Firewood Global Ltd. |
| Licensed and authorised by regulatory bodies: | |
| Supported languages: | English |
| Customer support available via: | E-mail, phone |
| Contact details: | [email protected], +442036083558 |
| Available deposit methods: | Bank transfer, VISA, MasterCard, FasaPay, Local Exchangers, Neteller, PerfectMoney, Skrill, UnionPay |
| Available withdrawal methods: | Bank transfer, VISA, MasterCard, FasaPay, Local Exchangers, Neteller, OKPAY, PerfectMoney, Skrill |
| Minimum deposit: | 10 USD |
| Min. trade in lots: | 0.01 |
| Spreads: | Typical spread on the currency pair EUR/USD - 3,0 pips * on standard account type |
| Tradable assets: Might be a CFD. | Forex (30) |
| Mobile app: |  |
| MetaTrader 4: | |
| Other trading platforms: | WebTrader |
| Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:1000 |
| Social trading: |  |
FirewoodFx Fees (typical spreads)
We have scanned fees (typical spreads) that FirewoodFx charges when trading popular currency pairs, here is their breakdown in pips.
| EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
|---|---|---|---|---|---|
| * | 3,0* | * | * | 4,0* | 3,0* |
*Typical spreads were recorded on 17.01.2020 at 21:29 for the standard account. FirewoodFx spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Frequently Asked Questions
🧐 Is FirewoodFx a Scam?
In accordance with our research, FirewoodFx is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that FirewoodFx is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the FirewoodFx minimum deposit?
In order to start trading with FirewoodFx, you have to deposit at least 10 USD (Trading accounts can also be held in USD).
📵 What deposit and withdrawal methods FirewoodFx supports?
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs
You should consider whether you can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 29.09.2024 at 11:42 GMT.
