Broker review

FirewoodFX Broker Review

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.

Updated November 27, 2025 Written by Michelle Lim Kim Viewed 317 kali

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.

Lihat Juga
News : FirewoodFX Capitalizes on the Booming Prop Trading with New Offerings

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.

Lihat Juga
Testimonials : Minimal info
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).

Lihat Juga
Article : Deposit and Withdrawal Options at FirewoodFX

 

News FirewoodFX

view all

Article FirewoodFX

view all

Testimonials FirewoodFX

view all

Forum FirewoodFX

view all
Comments 45
Showing Last 10 Comment |
E

ervansah

I deposited $3000 and withdrew $9000 smoothly... but it's still unclear about the regulations of fwfx...
9 Tahun lalu
D

Djokow

I want to try Firewood.. they say you can deposit/withdraw 24 hours/7 days...!!?
9 Tahun lalu
TW

Teguh Warudani

firewoodfx as far as I know, the deposit can indeed be done anytime, but for withdrawals (from local exchangers), it can only be processed on weekdays. But maybe if you use a Credit Card or e-payment, it can be 24 hours every day.

Wire Transfer also follows the working hours of each bank.
9 Tahun lalu
M

mahmud

WD or DEPO at firewoodfx can be done anytime 24 hours. Every day. Smooth on weekends. Even on holidays, it's still okay.
9 Tahun lalu
MS

Mirdah S.

Which fund transfer method can be used anytime 24 hours? I want that too, so I can deposit/withdraw at firewoodfx whenever I want.
9 Tahun lalu
KS

Kurnia S.

firewoodfx looks great, STP account but with fixed spread, leverage up to 1:1000, plus can withdraw anytime. Really amazing, I'm curious now.
9 Tahun lalu
SH

Sandira H.

Firewood's STP/ECN account is well-known for its high liquidity. So the spreads are really competitive, usually below 1 pip for major pairs. No commission and you can choose high leverage. So it's very friendly for traders whose goal is to scalp or target big profits in a short time. It's great overall.
9 Tahun lalu
RR

Rajasa R.

This broker FirewoodFX is great, I like the offers and trading account bonuses, it's really suitable for beginner traders, because the capital can start from just USD 10, and there are no commissions for each trade.
9 Tahun lalu
P

PERMANA

KLW FOR SCALPING WHICH ONE TO CHOOSE?
8 Tahun lalu
H

Herman

Be careful as well, if you closely observe the spread on the premium account, you will see that the spread in Market Watch differs from the chat by 1-2 pips, especially during the Asian market session. When closing a position, there is always a slip of 2-4 pips. Be careful... don't get too excited just yet. When asked for support, the response is just excuses that don't make sense in the forex field.
8 Tahun lalu
S

Sally

This is a scam!! I was averaging, and before reaching TP, the order was closed. 5 of my orders were closed at prices far from TP. What should have been a profit turned into a loss of $93. I complained, but was only told it was due to slippage. Slippage should only be a few points, not that much. Until now, there has been no good faith to return my money, and I have the screenshot evidence!
5 Tahun lalu
S

Sally

This is a scam. I was averaging, and before reaching TP, my orders were closed. 5 of my orders were closed at prices far from TP. What should have been a profit turned into a loss of $93. I complained, but was only told it was due to slippage. Slippage should only be a few points, not that much. Until now, there has been no good faith to return my money, and I have the screenshot evidence!
5 Tahun lalu
Z

Zamzam

Firewood seems to rarely give promotions haha
5 Tahun lalu
DJ

Don Jhon

hmm the comments here say that this broker is good, because they say the spread is fixed, but since this broker doesn't have registered regulation yet, I'm still hesitant to deposit with this broker, maybe later if FwFX has regulation, I might reconsider depositing.
10 Tahun lalu
K

kinarsih

just try it first, bro, but deposit small amounts at first, like USD 50, just to test if they are fair with their market orders (no requotes, no floating spread, etc...). then also check how their TP and SL execution is, is it neat or not, if it hits TP but the position isn't closed or if it hasn't hit SL but the position is already closed, you have to be careful with that.
10 Tahun lalu
K

kalis

if the regulations in the financial sector are not yet in place.. but the broker companies are already registered.
10 Tahun lalu
H

hikimura

So far the rate is still Rp. 10,000/ $ 1, right? Hmm, it’s worth a try.
10 Tahun lalu
H

hikimura

Wait..., if I withdraw, will the rate still be the same at Rp. 10,000/ $ 1? Even though the dollar price has fluctuated in the following days?
10 Tahun lalu
RK

Riza Kharista

FirewoodFX yes. I once tried trading using a FirewoodFX premium account to test an EA and it turned out to be a margin call because the EA had insufficient margin. But what I can say about the FirewoodFX broker is that its strength and advantage lie in the fixed deposit rate and fixed spread.
good broker
10 Tahun lalu
D

doniey

That's right. This broker, FirewoodFX, seems to really have a concept of fix, fix, and fix. It's good for those looking for stability. But in my opinion, it would be better to choose the type of spread yourself, whether floating or fix. Because from what I know, fix spreads are generally larger than floating spreads. Meanwhile, at FirewoodFX, you can only get a fix spread of at least 1 pip on the premium account.
10 Tahun lalu
SA

Sandri Adri

broker yang baik
10 Tahun lalu
R

rifki

I want to try this broker but unfortunately it only uses 4 digits after the decimal.
10 Tahun lalu
R

Roy

FirewoodFX now has a 5-digit account bro..


10 Tahun lalu
O

ojan

I just got info from one of the IBs: For a premium account, 1 pip = $1 with an open of 0.1 lot, so an equity of $100 can only withstand a movement of 100 pips... so it's recommended to use a standard account.
Can someone explain? I was interested because of the spread on the premium account.
10 Tahun lalu
S

suyadi

maybe because in the standard account you can trade a minimum of 0.01 lot, so with an equity of $100, if you open with 0.01 lot, you can withstand movements up to 1000 pips. just condition it, bro, which one do you prefer, fund endurance or spread? indeed in the premium account the fixed spread is lower, if you have no problem trading with fund endurance up to 100 pips, then feel free to choose the premium account. but if you are concerned about the limited fund endurance, then the standard account is the choice. all of that should really be adjusted to your conditions.
10 Tahun lalu
T

Tun

It depends on your trading style as well. If you usually only do scalping where the TP and SL positions are not too far from the opening price, actually an account with the smallest spread is more profitable even if you use lots above 0.1 (because the expected price movement is usually only about 10 pips per open position).

But if you are swing trading, it's a different story. As long as the spread isn't too bad, it's fine, as long as the rollover (swap) and your capital endurance are strong enough, you can hold positions for days. That's why leverage is also important to reduce risk, so you can use mini lots below 0.1.
10 Tahun lalu
O

ojan

sorry for the silly question, I'm just a newbie hehe
10 Tahun lalu
H

handi

Has anyone tried the PAMM account from FirewoodFX? I'm interested, but since FirewoodFX is still unfamiliar to me, I haven't dared to deposit yet. Do you think their PAMM system is better than other brokers?
10 Tahun lalu
L

Luki

if you are interested in PAMM, this broker is actually relatively new. If I may suggest, try it first with funds that can be set aside in case something undesirable happens, don't use funds meant for daily needs.
10 Tahun lalu
H

Heikal

Does FirewoodFX often hold trading contests? I usually participate in trading contests to get bonus capital, so it's quite nice. I wonder what the trading contests at FirewoodFX are like?
10 Tahun lalu
L

Lusi

If you want to add a bonus to your capital, why not just use the deposit bonus? If at FirewoodFX, live accounts above USD 100 get a 20% bonus, that's pretty good.

As for the contest itself, it really doesn't show up on the front page of the FirewoodFX website, you can only find out about the contest and its schedule once you become a client (register for membership).
10 Tahun lalu
AM

abdul masro

give your opinion, bro,
from my observation, firewoodfx is not the type of broker that excels in contests. Maybe because they focus on providing services for those who are still newbies.
but if I may suggest, perhaps in the future there could be demo contests, it would be nice for learning too.
9 Tahun lalu
R

rohman

try to look at the pamm manager table firewoodfx, most of the traders are from Indonesia.
9 Tahun lalu
R

Rika

Why is that, Sir, if there are so many traders from PAMM firewoodfx from Indonesia? Isn't it better, so we can communicate directly with the master/account manager in Indonesian?
9 Tahun lalu
R

Rudi

I have been offered several times to join the broker FirewoodFX, but I am still hesitant, actually does this broker have clear regulations? Will I face issues when withdrawing money later?
9 Tahun lalu
S

Sigit

حالياً، فإن تنظيم FirewoodFX مسجل في سانت فنسنت والغرينادين (رقم التسجيل: 22160 IBC 2014). أعتقد أن هذا يعادل CySec كمنظم خارجي. بالنسبة لضمان نجاح السحب، يمكنك البحث عن ذلك في شهادات SF

9 Tahun lalu
R

Rageh

Relax, Boss, so far FirewoodFX has been safe for me, no issues with withdrawals and deposits. The point is, if you play by the rules and don't try to gain profits unfairly, it should go smoothly.
9 Tahun lalu
G

Geby

I think the facilities from this broker are quite complete. There are deposit - withdrawal options with a fixed rate (Fasapay, Local Exchanger) or a floating rate (Perfectmoney and others). They also provide PAMM accounts with quite unique rules, and there is also a special copy trade account for signal providers, not to mention the newest one, the ZuluTrade account. The types of trading accounts are also adjusted, there is a micro account with 1 lot = $1 per pip, and there are standard and premium accounts with standard lots but smaller spreads than Micro. In short, this broker is complete in providing services for traders.
9 Tahun lalu
C

cahyadi

For a retail broker size, in my opinion, firewoodfx can be considered quite good, not to be outdone by the facilities of other well-known brokers (the ones with green and red colors).
But for the long term, firewoodfx needs new innovations to truly compete and survive in the midst of the tight competition among retail brokers.
9 Tahun lalu
C

cahyadi

For a retail broker size, in my opinion, firewoodfx can be considered quite good, not to be outdone by the facilities of other well-known brokers (the ones with green and red colors).
But for the long term, firewoodfx needs new innovations to truly compete and survive in the midst of the tight competition among retail brokers.
9 Tahun lalu
S

sirait

I just received an offer from an IB referring to Firewoodfx. At first glance, I'm interested, but actually, I'm still a beginner in forex trading. I've learned using a demo account, but I still haven't been able to make a profit.

Does Firewoodfx have complete educational content that is truly high quality? So I can learn while practicing trading until I make a profit.
9 Tahun lalu
R

Rio

regarding educational content, usually the IBs from firewoodfx will provide it for free to their members, for example IB firewoodfx.trade
9 Tahun lalu
S

Sidiq

from an age perspective, firewoodfx is indeed a relatively new broker. But the facilities and offerings seem quite competitive at a glance.

However, since I'm not confident with its regulator, I only dare to trade with a limited deposit.
9 Tahun lalu
D

Digo

I've been casually trying scalping on my micro firewoodfx account, and it's been going smoothly.

Deposits are fine, and withdrawals have no issues either. I don't mind if the regulator is offshore or Bappebti, as long as they adhere to the terms and conditions they set for themselves, that's enough for me.
9 Tahun lalu
G

Geby

In my opinion, as a new broker, FirewoodFX always strives to listen to what its clients say, and FirewoodFX is one of the brokers that does not emphasize deposit bonus promotions as its main weapon. This is proven by the holding of the FirewoodFX trading Competition which has reached the series FirewoodFX Trading Competition IV, a trading contest with a minimum deposit of $10 with thousands of USD in prizes.
9 Tahun lalu
E

ervansah

I deposited $3000 and withdrew $9000 smoothly... but it's still unclear about the regulations of fwfx...
9 Tahun lalu
D

Djokow

I want to try Firewood.. they say you can deposit/withdraw 24 hours/7 days...!!?
9 Tahun lalu
TW

Teguh Warudani

firewoodfx as far as I know, the deposit can indeed be done anytime, but for withdrawals (from local exchangers), it can only be processed on weekdays. But maybe if you use a Credit Card or e-payment, it can be 24 hours every day.

Wire Transfer also follows the working hours of each bank.
9 Tahun lalu
M

mahmud

WD or DEPO at firewoodfx can be done anytime 24 hours. Every day. Smooth on weekends. Even on holidays, it's still okay.
9 Tahun lalu
MS

Mirdah S.

Which fund transfer method can be used anytime 24 hours? I want that too, so I can deposit/withdraw at firewoodfx whenever I want.
9 Tahun lalu
KS

Kurnia S.

firewoodfx looks great, STP account but with fixed spread, leverage up to 1:1000, plus can withdraw anytime. Really amazing, I'm curious now.
9 Tahun lalu
SH

Sandira H.

Firewood's STP/ECN account is well-known for its high liquidity. So the spreads are really competitive, usually below 1 pip for major pairs. No commission and you can choose high leverage. So it's very friendly for traders whose goal is to scalp or target big profits in a short time. It's great overall.
9 Tahun lalu
RR

Rajasa R.

This broker FirewoodFX is great, I like the offers and trading account bonuses, it's really suitable for beginner traders, because the capital can start from just USD 10, and there are no commissions for each trade.
9 Tahun lalu
P

PERMANA

KLW FOR SCALPING WHICH ONE TO CHOOSE?
8 Tahun lalu
H

Herman

Be careful as well, if you closely observe the spread on the premium account, you will see that the spread in Market Watch differs from the chat by 1-2 pips, especially during the Asian market session. When closing a position, there is always a slip of 2-4 pips. Be careful... don't get too excited just yet. When asked for support, the response is just excuses that don't make sense in the forex field.
8 Tahun lalu
S

Sally

This is a scam!! I was averaging, and before reaching TP, the order was closed. 5 of my orders were closed at prices far from TP. What should have been a profit turned into a loss of $93. I complained, but was only told it was due to slippage. Slippage should only be a few points, not that much. Until now, there has been no good faith to return my money, and I have the screenshot evidence!
5 Tahun lalu
S

Sally

This is a scam. I was averaging, and before reaching TP, my orders were closed. 5 of my orders were closed at prices far from TP. What should have been a profit turned into a loss of $93. I complained, but was only told it was due to slippage. Slippage should only be a few points, not that much. Until now, there has been no good faith to return my money, and I have the screenshot evidence!
5 Tahun lalu
Z

Zamzam

Firewood seems to rarely give promotions haha
5 Tahun lalu

You will reply to this comment:

-