FirewoodFX is now adding a variety of Micro accounts to its trading services. As the name implies, this new FirewoodFX account will open opportunities for novice traders to earn profits with little risk. This is because the minimum lot on this account can be as low as a micro lot (0.01 with a contract size of 10,000 per 1 lot). Apart from the minimal trade size, what can you get from a Micro account at FirewoodFX?

Equipped with Fixed Spread and Swap Free

Most of the trading conditions listed on FirewoodFX Standard and Premium accounts are also provided for Micro accounts. In this case, the most prominent convenience that can be obtained is the fixed spread and swap-free options. Thus, beginners who choose to trade on a FirewoodFX Indonesia Micro brokerage account do not need to worry about unexpected floating spreads or being subject to rollover fees when having a position overnight.

Apart from spreads and swaps, another advantageous condition of the Micro FirewoodFX account is the freedom to trade with any strategy. The St. Vincent and the Grenadines registered broker was previously known to be flexible in providing conditions for scalpers, news traders, EA users, and implementers of hedging techniques. All of these strategies are free to use by traders who have Standard and Premium accounts. Now, with the opening of a Micro account that is provided with similar conveniences, of course, it further marks the freedom of traders because they can use any strategy even though they only trade with a trading size as small as a micro lot.

Unfortunately, there are still some problems that FirewoodFX has not optimized on Micro accounts. One of them is the price quote that is still available with the 4-digit option only. In fact, both Standard and Premium accounts have allowed traders to enjoy 5-digit price precision. Besides that, the fixed spread for the Micro account looks bigger than the other two accounts. Compared to Standard and Premium accounts offered with fixed spreads starting at 2 pips and 1 pip, FirewoodFX Micro accounts are installed with fixed spread conditions starting at 3 pips.

However, there are other mitigating aspects for traders on Micro accounts. Leverage can be chosen up to 1:1000, and the minimum deposit can be as low as $10. With the convenience of trading like a trader with small capital, this Micro account makes FirewoodFX even more worthy of competing in the ranks of the best forex brokers for beginners and further establishing itself as a broker with promising trading conditions.