FirewoodFX Review 2026

Item: FirewoodFX
Rating: 4.23
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: July 04, 2026

Top Brokers Overview — United States

Visit the site anyway

Min. deposit $10
Fees 7 /10
Account types 5.7 /10
Regulation 4.7 /10

4.2 /10

High risk

FirewoodFX User Reviews 2.6
Commissions and Fees 7.0
Regulation and Safety 4.7
Account Types 5.7
Deposit and Withdrawal 5.0
Markets and Tradable Assets 4.3
Trading Account Opening 10.0
Customer Support 3.0

FirewoodFX Pros & Cons

Access to multiple markets such as currency pairs, metals, cryptocurrencies, oil, and indices.
Low minimum deposit from $1 on the Cent account or $10 on the standard account.
Leverage is up to 1:3000.
MetaTrader 4 trading platform with support for algorithmic trading systems.
Low spreads from 1 pip and no commission on all accounts.
Availability of Swap Free accounts.
Copy trading support via the ForexCopy platform.

Lack of strong Tier-1 regulation.
Only MT4 is available, with no MT5 or alternative trading platforms.
Customer support quality may be inconsistent.

TU Expert Verdict

FirewoodFX carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.

Top-5 Brokers Traders Prefer

zForex

7.9 /10

Regulation Not regulated

EUR/USD 0.1 pips

Plus500

7.5 /10

Regulation Tier-1

EUR/USD 0.5 pips

Trading.com USA

6.8 /10

Regulation Tier-1

EUR/USD 0.9 pips

OANDA

6.8 /10

Regulation Tier-1

EUR/USD 0.1 pips

FOREX.com

6.7 /10

Regulation Tier-1

EUR/USD 0.7 pips

FirewoodFX User Reviews

Score:

2.6 /10

7 total

5-star

0%
4-star

0%
3-star

14%
2-star

0%
1-star

86%

I want to warn everyone that the manager from this company will not help you earn. Everything will help to merge! Beginners are generally deceived here cool. They promise to teach you how to trade. But they just suck money out of people. All they can.

I transferred money to them and they deleted my account.

Hello FirewoodFX is a regular forex kitchen just beautifully furnished! experts first lay gently, and then actively help drain the deposit. they advise deals that are obviously unprofitable with a large volume. The scheme is simple. Don't get caught!

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Commissions and Fees

Score:

7 /10

The trading and non-trading commissions of FirewoodFX have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, ZForex and OANDA, to provide the most comprehensive information.

Low Forex trading fees
Tight EUR/USD market spread
No inactivity fee
No withdrawal fee

Deposit fee applies

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of FirewoodFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, FirewoodFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

FirewoodFX Standard spreads
	FirewoodFX	ZForex	OANDA
EUR/USD min, pips	0.1	0.1	0.1
EUR/USD max, pips	0.3	0.4	0.5
GPB/USD min, pips	0.2	0.2	0.1
GPB/USD max, pips	0.4	0.6	0.5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

FirewoodFX RAW/ECN spreads
	FirewoodFX	ZForex	OANDA
Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency).	5	7	3.5
EUR/USD avg spread	0.1	0.1	0.15
GBP/USD avg spread	0.15	0.15	0.2

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with FirewoodFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

FirewoodFX Non-Trading Fees
	FirewoodFX	OANDA
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0-5	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	10	0-15
Inactivity fee ($, per month)	0	0

Is FirewoodFX Safe?

Score:

4.7 /10

FirewoodFX has a safety score of 4.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Is regulated
Negative balance protection
Track record over 12 years

Not tier-1 regulated

FirewoodFX Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
SVG FSA	Full Name Financial Services Authority of St. Vincent and the Grenadines	Country of regulation St. Vincent and the Grenadines	Investor Protection Fund No specific fund	Regulation Level Tier-3

FirewoodFX Security Factors
Foundation date	2014
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

5.7 /10

FirewoodFX offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Micro, Swap Free.

FirewoodFX covers the core account types, making it convenient for traders with different preferences and strategies.

Cent account for beginners
Tight spread ECN account
Low minimum deposit

No VIP account option

FirewoodFX account types vs top competitors
	FirewoodFX	ZForex	Plus500
Standard	Yes	Yes	Yes
ECN/Raw spread	Yes	Yes	No
Demo	Yes	Yes	Yes
Cent	Yes	No	No
Micro	Yes	No	No
Swap Free	Yes	Yes	Yes
VIP	No	No	No
Managed	No	No	No

FirewoodFX accounts trading conditions

FirewoodFX provides accounts with floating spreads, a minimum trade size of 0.01 lots, and a Stop Out level of 20%. Each account can be converted into an Islamic Swap Free account upon request by a Muslim trader.

Account types:

Account Type	Description
Cent	An account with a contract size of 100,000 USC. The minimum deposit is $1. Leverage is up to 3000. Spreads are variable from 1 pip. No commission per lot
Pro	An account with a standard lot size of $100,000. Leverage is up to 3000. Spreads are floating from 1 pip. The minimum deposit is $10. No commission per lot
Islamic (Swap Free)	A special account type with no swaps or interest charges. Instead, a fixed fee applies for holding positions overnight. The account complies with Sharia law
Demo	A practice account designed for learning and testing trading strategies in a risk-free environment using virtual funds

Deposit and Withdrawal

Score:

5 /10

FirewoodFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

FirewoodFX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

USDT (Tether) supported
Bank wire transfers available
Minimum deposit below industry average
Bitcoin (BTC) accepted

Limited deposit and withdrawal flexibility, leading to higher costs
PayPal not supported
Deposit fee applies

What are FirewoodFX deposit and withdrawal options?

FirewoodFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, BTC, USDT.

FirewoodFX Deposit and Withdrawal Methods vs Competitors
	FirewoodFX	ZForex	Plus500
Bank Wire	Yes	No	Yes
Bank card	Yes	Yes	Yes
PayPal	No	No	Yes
Wise	No	No	No
BTC	Yes	Yes	No

What are FirewoodFX base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FirewoodFX supports the following base account currencies: USD, IDR, THB.

What are FirewoodFX's minimum deposit and withdrawal amounts?

The minimum deposit on FirewoodFX is $10, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FirewoodFX’s support team.

Markets and Tradable Assets

Score:

4.3 /10

FirewoodFX offers a limited selection of trading assets compared to the market average. The platform supports 32 assets in total, including 30 Forex pairs.

Indices trading
Crypto trading
ETFs investing

Bonds not available
Limited asset selection

Supported markets vs top competitors

We have compared the range of assets and markets supported by FirewoodFX with its competitors, making it easier for you to find the perfect fit.

	FirewoodFX	ZForex	Plus500
Currency pairs	30	50	60
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	32	80	2800
Stocks	No	Yes	Yes
Commodity futures	Yes	Yes	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	Yes	Yes	Yes
Stock indices	Yes	No	Yes
Options	No	No	Yes

Investment options

We also explored the trading assets and products FirewoodFX offers for beginner traders and investors who prefer not to engage in active trading.

	FirewoodFX	ZForex	Plus500
Bonds	No	No	No
ETFs	Yes	No	Yes
Copy trading	Yes	Yes	No
PAMM investing	No	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

10 /10

We successfully registered an account with FirewoodFX in 6 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at FirewoodFX is $10.

This is one of the most accessible and hassle-free onboarding procedures on the market.

Quick KYC verification (1 business day or less)
Fast registration time (up to 15 minutes)
Fully online account opening process

Account setup process may feel less convenient for beginners

FirewoodFX account opening
	FirewoodFX	ZForex	Plus500
Online Registration	Yes	Yes	Yes
Minimum deposit	$10	$10	$100
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	6	8	5
KYC time (days)	1	1	3

Is FirewoodFX available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

Opening an account with FirewoodFX is completed remotely on its official website. Follow these steps to register an account and start trading:

Enter basic personal details in the registration form, including your name, phone number, and email.
Create a secure password.
Confirm your email address.
In your user account, select the account type and leverage level.

Features of FirewoodFX user account allow traders to:

Create a new trading account.
Switch between account types such as real, demo, and wallet.
View account information including balance, equity, leverage, and bonuses.
Connect and manage copy trading.
Deposit funds and withdraw money.
Transfer funds between the wallet and trading account.
Manage the wallet, including balance and ID tracking.

Customer Support

Score:

3 /10

The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.

In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.

Information

The support service operates 24/5. Remote assistance is provided through multiple channels available to both registered clients and non-registered traders.

24/5 support availability
Online chat on the website

No support on Saturday and Sunday
No support via messengers

For contacting the broker, you can use:

Chat on the official website.
Phone number.
Email.
Contact form in the contacts section.
Instagram.

Contacts
Foundation date	2014
Registration address	Euro House, Richmond Hill Road, P.O. Box 2897, Kingstown, St. Vincent and the Grenadines
Regulation	SVG FSA, MISA, FSA (Labuan) Licence number: 22160 IBC 2014, T2023361, № MB/25/0134
Official site	https://firewoodfx.com/
Contacts	support@firewoodfx.com +442036083558

Best FirewoodFX Alternatives

zForex

7.9 /10

Regulation Not regulated

EUR/USD 0.1 pips

Plus500

7.5 /10

Regulation Tier-1

EUR/USD 0.5 pips

Trading.com USA

6.8 /10

Regulation Tier-1

EUR/USD 0.9 pips

OANDA

6.8 /10

Regulation Tier-1

EUR/USD 0.1 pips

FOREX.com

6.7 /10

Regulation Tier-1

EUR/USD 0.7 pips

FAQs

What does the FirewoodFX regulation and safety score indicate about its overall security level?

FirewoodFX has a safety score of 4.7/10, which corresponds to a low security level in this review’s methodology. It is regulated by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), a Tier-3 regulator, and offers negative balance protection and KYC verification, but it is not Tier-1 regulated and there is no specific investor compensation fund mentioned.

How are FirewoodFX trading commissions and non-trading fees structured according to the review?

The review rates FirewoodFX’s overall fee level as medium, with a fees score of 7/10, noting low forex trading fees, tight EUR/USD spreads, and no inactivity or percentage-based withdrawal fees. Standard account spreads on EUR/USD are typically 0.1–0.3 pips, ECN accounts charge a $5 commission per lot with low average spreads, and non-trading fees include a 0–5% deposit fee, zero percentage withdrawal fee but a fixed $10 withdrawal charge.

What account types are available at FirewoodFX and how do their main conditions differ?

FirewoodFX offers Demo, Cent, Pro (standard), ECN/Raw spread, Micro, and Swap Free (Islamic) account options, with no VIP or managed accounts mentioned. Cent accounts have a $1 minimum deposit and Pro accounts a $10 minimum, both with leverage up to 1:3000, floating spreads from 1 pip, a minimum trade size of 0.01 lots, and the possibility to convert accounts to Islamic Swap Free upon request by Muslim traders.

What do reviews say about FirewoodFX deposit and withdrawal conditions and minimums?

The section describes FirewoodFX as offering a basic range of funding methods, including bank cards, bank wire, BTC, and USDT, with a minimum deposit of $10 and a minimum withdrawal of $1. It notes there is no withdrawal fee but mentions limited flexibility and potential higher costs due to deposit fees, while also stating that BTC is not available as a base account currency and Wise is not supported.

Which markets and instruments can you trade with FirewoodFX, and how does the review assess its asset range?

According to the review, FirewoodFX supports 32 tradable assets, including 30 forex pairs, plus commodity futures, stock indices, cryptocurrencies, and ETFs, but does not offer stocks, bonds, options, PAMM, or managed accounts. The asset selection is described as limited compared with the market average, although the broker also provides copy trading and ETF investing options.