FirewoodFX Capitalizes on the Booming Prop Trading with New Offerings
FirewoodFX officially launched Firewood Funded with profit sharing of up to 80% for traders, in line with the trend of brokers and prop firms increasingly merging business models amid changes in MetaTrader regulations.
As the tightening of MetaQuotes' licensing policy on white-label schemes in 2024 takes effect, the trading industry landscape is beginning to shift. Many proprietary trading firms (prop firms) are now choosing to establish their own brokers by obtaining licenses from offshore jurisdictions. This move is seen as a way to maintain operational flexibility while retaining access to popular trading platforms like MetaTrader.
Amid this trend, FirewoodFX forex broker is also entering the market by launching its latest trading brand, Firewood Funded. This program offers a funded trader scheme, where traders have the opportunity to earn profit shares of up to 80%.
However, access to this program is not immediately available—traders must first pass an evaluation process, either through a one-stage or two-stage scheme. If successful, traders can manage funds without having to risk a large amount of personal capital.
FirewoodFX forex broker is not the first player in this segment. Axi previously introduced a similar program in September 2023, offering capital of up to $1 million and a profit split of up to 90%. Other brokers like Hantec Markets and IC Markets have also followed suit, offering profit shares in the range of 80% to 90%.
Compared to its competitors, FirewoodFX is at the lower end in terms of profit split with a figure of 80%. Nevertheless, the presence of Firewood Funded from this multi-asset broker indicates that competition in the funded trading market is becoming increasingly fierce, especially among offshore brokers based in jurisdictions like St. Vincent and the Grenadines.
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