FirewoodFX Broker Review

January 17, 2023

FirewoodFX is a broker that provides fixed spreads and fixed exchange rates. Apart from that, this broker offers leverage of up to 1:1000, a minimum deposit of $10, and bonus programs to boost traders' earnings.

The FirewoodFX broker, which was founded in 2014, immediately focuses on the Asian market, including Indonesia. Among the strategies it employs to attract traders' attention are providing an Indonesian language option on its website, working with local exchangers, and setting a fixed exchange rate of IDR 10,000/USD for deposits and withdrawals.

FirewoodFX broker offers STP forex trading services with a 4-digit price format via the MetaTrader 4 platform. The trading server is located at Equinix NY4, a world-class financial facility in the United States, and can be connected across leading Forex VPS. With such infrastructure, this forex broker intends to provide clients with the best forex trading experience.

What's interesting about FirewoodFX is the trading competitions they often hold. This broker routinely holds trading competitions almost every month to increase trader interest. The prizes it offers are also very attractive, namely a total prize of USD 1000 to be deposited into the winners' accounts. The winner of the trading competition is judged based on the highest profit generated. Until now, FirewoodFX has held 28 trading competitions.

Apart from that, joining the FirewoodFX broker can be easy and practical. New traders don't need to bother uploading various documents. You are only required to upload a few documents if you want to claim a promotional bonus.

Trading at FirewoodFX is reliable thanks to very fast execution and no requotes because it uses market orders. You can also choose a swap-free account for more sharia trading activities.

Broker Name FirewoodFX
Broker type STP
Website Click here to visit FirewoodFX's official page
Company Firewood Global Ltd
Founded On 2014
Headquarters St. Vincent and the Grenadines
Regulators St. Vincent and the Grenadines (Reg Number: 22160 IBC 2014) as Firewood Global Ltd
Customer service Phone, email, and live chat
website language English, Indonesian, Mandarin, and Filipino
Deposits And Withdrawals Credit Card, Fasapay, Skrill, Neteller, Wire Transfer
Trading platforms Metatrader4 for PC, MetaTrader 4 Web. MetaTrader 4 Mobile (iPhone and Android), and MetaTrader 4 Multi Terminal
Trading instruments Accommodates as many as 36 pairs of forex, gold, and silver
Spreads Fixed Spreads
Minimum initial deposit 10 USD (fixed rate at IDR 10,000/USD)
Account Currency USD
leverage Up to 1:1000
Minimum Lots 0.01 lot (Micro Account), 0.01 lot (Standard Account), and 0.1 lot (Premium Account)
Account Type Standard, Premium, and Micro
Hedging ✔️
Scalping ✔️
Margin Call/Stop Out 20%


Advantages of FireWoodFX

  • Clarity of Corporate Identity
    As a company based in St.Vincent and the Grenadines, one of the densely populated island nations in the Caribbean Sea, FirewoodFX is not under any special regulatory authority in the financial sector. However, Firewood Global Ltd is licensed as an independent company from the government of the Commonwealth of England and has a clear address.

  • Easy Registration Requirements
    FirewoodFX provides trading facilities that are 'not adventurous'. Simple registration requirements; You don't need to upload any documents except if you want to claim a promotional bonus.

  • Application of Fixed Exchange Rates for Indonesian Traders
    FirewoodFX's commitment to Indonesian traders is no joke, as seen from the fixed exchange rate of IDR 10,000. This rate setting can benefit traders because they are no longer harmed by the difference in the buying and selling rate spread when making deposits and withdrawals.

  • Multiple Strategies Allowed
    By allowing various trading styles, including hedging, scalping, and trading robots, FirewoodFX is suitable for those just starting their trading career in the forex world.


FirewoodFX Achievements

Even though it is still relatively new, FirewoodFX already has a number of brilliant achievements from various international agencies. The awards they received included: Best STP Broker in South East Asia 2017 (Global Banking And Finance), Broker of the Year Asia 2016 (Le Fonti Awards), Fastest Growing New STP Broker Asia 2016 (Global Banking And Finance), Best Broker in Southern Asia 2015 (Forex Report), and Best New STP Broker South East Asia 2014 (Global Banking And Finance).


Education (46)

1. What Is Forex? 2. Why Does Forex Market Exist? 3. What Drives the Forex Market? 4. Why is Forex Trading Popular? 5. Can I Get Rich in Forex? 6. Are You Curious? Want to Discover More about Forex Trading? Meet Demo Acount! 7. I'm a Newbie, How to Master Forex Trading? 8. What Forex Knowledge Should I Conquer? What Are the Steps to Go Thorugh the Journey? 9. What are Software and Glossaries in Trading Forex? 10. How to Read the Forex Market? 11. How to Practice Forex Trading? 12. How to Ride on the Forex Wave? 13. How to Prepare Basic Trading Requirement? By the Demo Account? What about the MT4/MT5? 14. What is Bid-Ask Spread? 15. What is Pip? 16. What is Lot Size 17. What is Leverage in Forex Trading? 18. What is Margin? 19. When to Trade Forex? 20. What is the Most Dominant Market in Forex? How is the Characteristic? 21. What is Chart in Forex? 22. What is Candlestick? Why is It the Most Popular Chart in Forex? 23. What is Technical Analysis? 24. What is Fundamental Analysis? 25. What are MT4 Indicators and How to Use Them? 26. What is Risk in Forex? 27. What is the Psychological Effect in Forex Trading? 28. How to Compile a Strategy Template? 29. How Long Should You Practice in a Demo Account? 30. When Do I Need to Start Learning about Brokers? 31. What Exactly Does a Forex Broker Do? 32. Can I Trade Forex without Broker? 33. How Much Money Do You Need to Trade in Forex Brokers? 34. How to Choose a Good Forex Broker? 35. What is Regulation? And Why Should Regulation Exist? 36. Why Should You Choose Forex Brokers with Top-tier Regulations? 37. How to Choose Forex Brokers Based on Your Need and Where You Are From? 38. What Brokers Should You Avoid? 39. Is There Any Broker Scam in History? How Bad Is It? 40. What are the Most Popular Brokers in The World? 41. What are the Best Brokers For Entry-Level Traders? 42. What are the Best Brokers for Traders with Minimum Deposit Capabilities? 43. Which Broker Provides a Demo Account and Easy Setup? 44. Which Broker Provides Easy Registrations? 45. What and How to Deposit on Forex Brokers? 46. What and How to Withdraw from Forex Brokers?




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