Firewood FX is a forex trading platform established in 2014 in Saint Vincent and the Grenadines, offering various account types and trading software options. However, the platform lacks transparent regulatory information and a complete introduction of trading products, which increases uncertainty for investors. The official website of Firewood FX is: https://www.firewoodfx.com/
Firewood FX Corporate Background:
The corporate background of Firewood FX dates back to May 19, 2014, when its corporate domain was registered. The brand is owned by Firewood Global Ltd., a company registered in Saint Vincent and the Grenadines (Registration Number: 22160 BC 2014), established on May 30, 2014. The corporate address is Suite 305, Griffith Corporate Centre, Beachmont, Saint Vincent and the Grenadines.
Firewood FX Regulatory Information:
Firewood FX does not provide any regulatory information on its official website, and no specific regulatory details were found on public websites. It is unclear whether it is supervised and regulated by any regulatory authorities. This lack of regulation may increase uncertainty for investors, as the presence of regulatory bodies typically means protection for company behavior and investor funds.
Firewood FX Account Registration Process:
- Visit the Firewood FX website and click the register button
- Fill out the application form
- Submit identity verification/document verification
- Deposit funds and start trading
Firewood FX Account Types:
Firewood FX offers various account types, including:
- Cent Account: Minimum deposit USD 10, 1 lot value per pip USC 10, minimum trade size 0.01 lots (1000), maximum leverage 1:1000, spread floating from 1 Pip, no commission.
- Micro Account: Minimum deposit USD 10, 1 lot value per pip USC 1, minimum trade size 0.01 lots (100), maximum leverage 1:1000, spread floating from 3 Pips, no commission.
- Standard Account: Minimum deposit USD 10, 1 lot value per pip USC 10, minimum trade size 0.01 lots (1000), maximum leverage 1:1000, spread floating from 3 Pips, no commission.
- Premium Account: Minimum deposit USD 10, 1 lot value per pip USC 10, minimum trade size 0.01 lots (1000), maximum leverage 1:1000, spread floating from 0.3 Pip, no commission.
- ECN Account: Minimum deposit USD 200, 1 lot value per pip USC 10, minimum trade size 0.01 lots (1000), maximum leverage 1:1000, spread floating from 0 Pip, commission $7 per lot.
Firewood FX Trading Software:
Firewood FX offers MetaTrader 4 (MT4), a highly popular trading system with powerful features and flexibility to meet the needs and preferences of various investors. The MetaTrader platform provides a wide range of analytical tools, charts, and automated trading functions, allowing traders to effectively execute various trading strategies.
Firewood FX Trading Products:
Firewood FX offers trading products including forex, gold, cryptocurrencies, and oil. These products cover multiple markets, providing investors with ample trading opportunities. However, despite mentioning these product types, there is a lack of specific trading information for each product, which might add to investors' uncertainty when making decisions.
What Are the Spreads, Leverage, and Commissions for Firewood FX?
Firewood FX offers various account types with spreads (the difference between the buy and sell price) fluctuating between different account types. The lowest spreads range from 1 Pip to 0 Pip. Additionally, all account types provide leverage of up to 1:1000, meaning investors can borrow funds to increase their trading positions. Except for the ECN account, there are no commissions for other account types. The ECN account charges a $7 commission per lot traded.
Firewood FX Deposit and Withdrawal Methods:
Firewood FX offers various deposit and withdrawal methods, including:
- Bank Transfer
- Internet Banking (Indonesia Local Banks)
- Virtual Accounts (e-Wallets)
- BIDR BEP20
- BUSD BEP20
- USD Tether TRC20/BEP20
- Perfect Money
- Fasapay
- Thailand QR Payment
These methods provide flexibility to meet different customer needs and preferences.
Firewood FX Customer Support:
Email:support@firewoodfx.com
Phone: +442036083558
Conclusion:
Firewood FX faces issues such as regulatory transparency, incomplete trading product information, and limited customer support. Hence, investors should exercise caution when choosing this platform and consider other regulated and more transparent trading platforms. Firewood FX is listed as "Non-Regulation" on TraderKnows.
