FirewoodFX Launches ForexCopy Service

FirewoodFX now has the ForexCopy service. This broker does not seem to promote this new feature extensively. However, clients can use the ForexCopy service available on the FirewoodFX website (in English) by hovering the cursor over the 'Trading' menu, then at the bottom of the list, there is the option 'Forex Copy'.

After clicking on that menu, clients will see instructions for registration in ForexCopy. There are two options, namely becoming a Leader (a trader who provides signals to be copied) or becoming a follower (a trader who follows signals from a Leader). The general requirement that must be met is, of course, having an account with FirewoodFX.

Becoming a Leader

To become a Leader, a client must first log in through their MT4 account at FirewoodFX. Then, what needs to be noted is the "Role" in the account status, select "Leader" and then submit. Be careful because once the role in your account is set to leader, it cannot be changed again. After that, wait for a notification indicating that the registration role as a leader has been accepted. A Leader will receive a notification from FirewoodFX if they receive a trading signal request from a follower. And, the Leader themselves decides to accept the request by clicking the word "Approve" available in the follower list table.  

Becoming a Follower

Meanwhile, to become a Follower, the method is not different, just make sure to select the 'Follower' role in Account Status and then submit. A follower has the right to choose their leader, and to request signal copying, a follower must fill in the leader's account number they desire and choose the trading volume type (in lots or percent in the "value of Volume" table). Once submitted, the follower just needs to wait for their request to be approved by their Leader.

If understood well, the FirewoodFX Forex Copy program indeed seems very new and still needs to provide further explanations, especially regarding how followers can choose their desired leaders and how to know the leader's account number, as there is currently no specific page detailing this Forex Copy further. Additionally, the ForexCopy program can only be accessed if we log in through the English version of the FirewoodFX website; if the language setting is changed to Indonesian, then the ForexCopy program does not appear in the menu.

For more information about ForexCopy FirewoodFX, you can click on the FirewoodFX website.