FirewoodFX Review 2024
Minimum
deposit:
  • 10$

Trading platform:

  • MetaTrader4
  • Mobile
  • Web Trading platform
Bonus for deposit:
  • 0%

FirewoodFX Review 2024

Updated:
Updated: October 06, 2023

2.4

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • 10$

Trading platform:

  • MetaTrader4
  • Mobile
  • Web Trading platform
Bonus for deposit:
  • 0%

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Summary of FirewoodFX Trading Company

FirewoodFX is a high-risk broker with the TU Overall Score of 2.4 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FirewoodFX clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. FirewoodFX ranks 378 among 406 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.

FirewoodFX is a brand name owned by Firewood Global Ltd. Firewood Global Ltd. is duly registered in St. Vincent and The Grenadines with reg. no. 22160 IBC 2014. FirewoodFX offers its services worldwide. FirewoodFX was initially launched by a team of experts in the sphere of Forex trading. FirewoodFX team has a vast experience in the financial field. Therefore they are skilled enough and eager to provide some premium trading experience for traders and investors globally. FirewoodFX offers an STP model of trades execution combined with 4-digits pricing and fixed spread to ensure the most friendly trading conditions.

💰 Account currency: USD
🚀 Minimum deposit: 10 USD
⚖️ Leverage: 1:1000
💱 Spread: from 1 p
🔧 Instruments: Forex, Cryptocurrencies, Indicies, Commodities, Share CFDs, ETFs.
💹 Margin Call / Stop Out: Stop Out – 20%

Evaluation of the most influential parameters of FirewoodFX

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

1.93

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

1.07

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

4.14

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

5.02

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

4.53

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

2.95

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

2.68

/10

Geographic Distribution of FirewoodFX Traders

Popularity in

77.2%
ID
Indonesia
12.3%
TH
Thailand
9.1%
US
United States
7.6%
SG
Singapore
3.2%
GB
United Kingdom
2.2%
IN
India
2.11%
MY
Malaysia
2.29%
Others
Others

FirewoodFX reviews and rating of the company i

7 comments
Total score:
2.6 /10

Share your experience

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Sergeirjony
47 weeks ago

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.

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summerkr2
1 year ago

I transferred money to them and they deleted my account.

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andrewef18
1 year ago

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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CharlesHiT
2 years ago

With a broker, you can trade with any version of MT4. This is important for me, because I work not only in the desktop terminal, but also often use the web trader. I do not really like the mobile application, as it often freezes. In FirewoodFX, I started with a cent account, then switched to a standard account. The commissions on them turned out to be almost identical, the speed of execution is also practically the same. About spreads. The minimum value for Eurobucks is 2 points. Does anyone else hope to get zero spreads on a $100-200 deposit? FirewoodFX does not promise them, but honestly states that even on a premium account they start from 1 pip. By the way, you cannot deposit less than $50 from the card, and there is also a 5% commission.

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Bilawal143
2 years ago

Didn't like working with FirewoodFX. inconvenient software, constant transfers between portfolios take a lot of time. everything seems to work, but not fast and takes a lot of time to learn the software itself.

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rpchost
3 years ago

The system crashed and the 52 usd trade was not credited. Correspondence with Firewood FX employees has not yet led to anything, I feel like I am communicating with myself. Only one solution looms - to leave this situation alone and put the balance on the deposit for withdrawal, because I'm almost sure that no one will count the subsequent deals here, but they will look for a reason to throw

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RendyIrwansyah
3 years ago

The trial $ 20 is over. I cannot name the trading system through firewood fx otherwise. Also a casino - lucky, unlucky. I was unlucky along the way, once in two micro lot trades I lost my trial deposit. I do not think that there is a reason to enter with large amounts if it is impossible to keep small ones

Dynamics of FirewoodFX’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Trading Conditions for FirewoodFX Users

💻 Trading platform: MetaTrader 4, Mobile, web platform
📊 Accounts: Micro, Standard, Premium
💰 Account currency: USD
💵 Replenishment / Withdrawal: Bank Transfer, USD Tether, Credit Card, Unionpay, Neteller, Skrill, Vietnam Exchanger, FasaPay, PerfectMoney
🚀 Minimum deposit: 10 USD
⚖️ Leverage: 1:1000
💼 PAMM-accounts: Yes
📈️ Min Order: 0.01 lot
💱 Spread: from 1 p
🔧 Instruments: Forex, Cryptocurrencies, Indicies, Commodities, Share CFDs, ETFs.
💹 Margin Call / Stop Out: Stop Out – 20%
🏛 Liquidity provider: No
📱 Mobile trading: Mobile Platforms
➕ Affiliate program: Yes
📋 Orders execution: Market execution, Instant execution
⭐ Trading features: No
🎁 Contests and bonuses: 20% Deposit Bonus

Comparison of FirewoodFX with other Brokers

FirewoodFX RoboForex Eightcap Exness XM Group Vantage Markets
Trading
platform
MetaTrader4, MetaTrader Web, MetaTrader Mobile MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MT4, MT5 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MT4, MT5, MobileTrading, XM App MT4, MT5, WebTrader, Mobile Apps
Min deposit $10 $10 $100 $10 $5 $50
Leverage From 1:1
to 1:1000
From 1:1
to 1:2000
From 1:30
to 1:500
From 1:1
to 1:2000
From 1:1
to 1:30
From 1:1
to 1:500
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 1 point From 0 points From 0 points From 1 point From 0.6 points From 0 points
Level of margin call
/ stop out
No  /  20% 60%  /  40% 80%  /  50% No  /  60% 100%  /  50% 100%  /  50%
Execution of orders Instant Execution, Market Execution Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution Market Execution
No deposit bonus No No No No No No
Cent accounts No Yes No No Yes No

Broker comparison table of trading instruments

FirewoodFX RoboForex Eightcap Exness XM Group Vantage Markets
Forex Yes Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes Yes
Crypto Yes No Yes Yes Yes No
CFD Yes Yes Yes Yes Yes Yes
Indexes Yes Yes Yes Yes Yes Yes
Stock Yes Yes Yes Yes Yes Yes
ETF No Yes No No No No
Options No No No No No No

Contacts

Foundation date 2014
Registration address Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines.
Official site
Contacts
All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
FirewoodFX Review FirewoodFX Review

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FAQs

Do reviews by traders influence the FirewoodFX rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FirewoodFX you need to go to the broker's profile.

How to leave a review about FirewoodFX on the Traders Union website?

To leave a review about FirewoodFX, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about FirewoodFX on a non-Traders Union client?

Anyone can leave feedback about FirewoodFX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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