Although we have not heard about any specific complaints regarding FirewoodFX, it should be mentioned that there are no security mechanisms in place for clients in the event of insolvency for example. This differs from brokers registered in places like the EU, UK, Australia, and Japan, where investor protection funds are set up to compensate clients in these cases. FirewoodFX is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
FirewoodFX was founded by professional forex brokers, which is evident from the way its business model is set up. However, only having customer support in three languages is an error it should soon rectify if it hopes to continue growing its clientele. Unlike card payments, which will be charged a fee, deposits from these local payment services are processed free of charge by the broker. The same fee structure also applies to withdrawals from the trading account. Deposits and withdrawals can be made with all major credit and debit cards, as well as international bank transfer . In addition, the broker also accepts several regional money transfer services in Vietnam, Thailand, and Indonesia, making it easy for traders in this part of the world to join.
With FireWoodFX, you can trade as you wish – long term, short term, intraday. You can use MetaTrader 4 for trading, as it is perfect for mobile trading also. So you can trade wherever you are at anytime with PC, iPhone, iPad, iPod, and Android devices.
Professional Trader and Money Manager can open, manage and close orders in multiple accounts simultaneously, using various trade size allocation methods. Trader is also able to view live market prices and monitor all accounts balance and equity in real-time. The program interface is very similar to the MetaTrader 4 Client Terminal, so any trader can easily use this program in short time. Refer client to trade at FirewoodFX, for each closed position partner will receive money from FirewoodFX. As we all know, St. Vincent and The Grenadines belongs to a relatively small circle of Caribbean countries which offer various versions of financial services.
However, a lot of people have fears and concerns in regards to those so-called tax haven, and it can be said that some of those fears have a legitimate background. Off-shore companies are notorious for their scam operations and malicious intent, but this does not seem to be the case with FirewoodFX. As we could see during our examination of their activities in preparation of this FirewoodFX review, this particular STP broker behaves in a trustworthy and reliable manner. The brokerage is licensed and regulated by the FSA and it is registered in St. Vincent and The Grenadines under the number BC 2014. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
Based on this experience, I feel more comfortable trade with this broker, because I never face any problems . And this july 2016, I opened 2 accounts and deposited $2500 in each account. and till today I write this ,I already withdrawed +/- $2500 profits . from trader point of view, their trading condition is quite good.never have any requotes or no connection tricks with this broker. I would like to subscribe to the TopRatedForexBrokers newsletter and hereby give my consent to receive exclusive bonus offers and regular updates via email. You have the right to withdraw your consent at any time by simply by ticking the ‘unsubscribe box’ which will be provided in all emails you will receive from us, or by sending an email to . We at Topratedforexbrokers.com are committed to your privacy and protection of your personal data.
Firewoodfx Review: Account Opening
In the future, FirewoodFX is hoping to provide an MT5 trading platform, as well as cryptocurrency trading instruments. FirewoodFX offers trading on the popular MetaTrader 4 platform, in all its versions. It lets users program their own strategies and signals and this feature is one of the main reasons for its popularity. The user terminal itself provides trade operations, charts and technical analysis in real time. Tradersunion.com assumes no responsibility for the consequences of the Client’s trade decisions or for the possible loss of his capital caused by the use of this site or the information on it. The Forex Trading, as well as CFD or cryptocurrencies trading, are not for everyone and Forex trading is a very risky business. Before investing, please assess your competence to trade in the Forex markets and make sure you understand and appreciate all the risks, particularly in terms of leveraged trading.
You can earn $10 credit for each standard lot, or 10 micro lots that are closed within 30 days from making your first deposit. The credit bonus will be available to use as additional margin and equity. Certain terms and conditions apply to this bonus and you’d be advised to read them carefully before accepting this offer. There is also a 20% deposit bonus when you first open an account and make a deposit. If you deposit $500 you’ll be able to hold a losing position up to $600. There are also rules relating to this promotions that’ll you’ll need to read and comply with.
Firewoodfx Mobile Platform
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It allows traders to enjoy the powerful functionality for trading Forex anytime and anywhere in the world. MetaTrader 4 has a multilingual interface that enables traders to use the automated mirror trade strategy, which makes it more convenient for new users. Furthermore, MetaTrader 4 provides its users with real-time charts and reports and an in-depth analysis of the online trading scene, which enables traders to make well-informed decisions. When it comes to trading platforms, FirewoodFX has opted for the popular MetaTrader 4, which is widely regarded as one of the most reliable online trading platforms available in the market today. With the development of social media and smartphones, the financial world was also forced to make adjustments. Nowadays, almost all brokerages offer a mobile version of their websites, and FirewoodFX is no exception.
For instance, text articles explaining what is Forex and why you should invest in these markets will give you the basic knowledge about the online trading world. Aside from those, FirewoodFX also offers a Glossary, forex Margin Calculator, and News section. Since FirewoodFX is a relatively new brokerage, they have been able to incorporate into their website only the most modern and the most sophisticated trading tools and features.
Trading Styles On Forex In Relation To Technical Analysis
Their software package is optimized for the use on Android, iOS and Windows Mobile devices. By offering this option, FirewoodFX has enabled traders to invest at any time and from anywhere. And surprise, after evaluate my profit and loss for 6 weeks trading and withdraw nearly 115% from my equity, I never got any problems with my trading style. It does not like any other brokers, Firewood does not even complaining with my trading styles. The executions quality is always the same, and withdrawal always smooth.
We review all brokers to astrict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information. The broker also facilitates a trading contest to engage its traders.
Comparison Of Firewoodfx With Other Brokers
There is also the deposit bonus of 20% for deposits of $100 or more. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money.
Used names and trademarks belong to their respective owners and are used for informational purposes only. Crossconnect is also available through a major forex virtual private server provider. Put simply, FirewoodFX’s technology means anyone can trade everywhere and anytime through its platforms.
Depositing through wire transfer or USD Tether, clients need to take note of the minimum deposit fee of $100. Meanwhile, debit/credit cards including VISA and Mastercard have a $50 minimum deposit and a 0.5 + 5% deposit fee. Trading Brokers have spent thousands of hours researching and conducting in-depth analysis on hundreds of online trading brokers. At FirewoodFX, making deposits is simple and straight forward and most methods are instantly processed.
- However, all traders should consider their own trading style and calculate what makes the better deal for them; commission-free trading with wide spreads, or tight spreads with larger commissions.
- FxChoice is a IFSC regulated forex broker, serving clients from all over the world.
- In this FirewoodFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs.
- It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
- All account types offer commission-free trading and fixed spreads, which explains why the spreads offered are wider than what has become standard with other brokers.
- This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Just register and get Beaxy Review authorized to submit a review of the broker’s activities and conditions on its platform. All reviews of FirewoodFX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
Forex Peace Army
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. Aside from 20% Deposit Bonus, FirewoodFX offers up to a $5000 trading reward bonus. For every FirewoodFX standard lot closed within 30 days from the first deposit, the trader earns a $10 reward.
FirewoodFX is under the ownership of Firewood Global LTD, and this global financial enterprise was established in 2014. FirewoodFX is an STP brokerage , and this company’s headquarters is located in the tax haven of St. Vincent and The Grenadines. The registered address is Suite 305, Griffith Corporate Centre, Kingstown. Read on to discover if FirewoodFX is a broker you can trust, or you should keep your hard-earned cash as far away from https://traderoom.info/ them as possible. Great STP broker, low fixed spread, no trading restriction and we may experience the positive slippage. Actually several years ago , i was traded with Firewoodfx , but i did not gave my trust to Firewoodfx because they are relatively a new forex brokerage company. When I was looking for a forex broker that suitable with my needs, I tried many forex broker company out there and finally I decided to trade with FirewoodFX.