The website is operated by Firewood Global Ltd, a company registered in Saint Vincent and the Grenadines. Note that the firm positions its platform as “the best in the Asian region,” promising potential clients a “reliable and convenient trading experience.” Meanwhile, brokerage companies do not have licenses on these offshore islands, and there is no information about other regulators on the website of this intermediary.
Can you safely trade on this platform? Read our FirewoodFX review to determine how reliable this broker is.
How to Trade
The company offers trading on the popular MetaTrader 4 platform. You will receive PAMM service and ForexCopy technology. Main trading conditions:
- Leverage from 1:1000 to 1:3000.
- Minimum deposit 10/200 USD.
- Minimum order from 0.01 lots.
- Spread from 0,1 pip, commissions from $7.
The broker provides clients with 5 tariffs. You can trade Forex, CFDs on cryptocurrencies, indices, commodities, stocks, ETFs.
Participation in the company’s promotions will bring you bonuses and prizes. Tech support can be quickly reached through online chat.
FirewoodFX Vital Info
The platform owners talk about their 10-year history and cite statistics such as more than 200 million processed client withdrawals, 11 Forex awards, and more than 230 countries covered by the service. As for the project’s lifespan, the footer of the official website indicates 2014. In addition, the domain was also created in 2014, which confirms the long-term work of the intermediary.
The organization is registered in Saint Vincent and the Grenadines under the number 22160 BC in 2014, where its legal address is also indicated. However, the firm’s brokerage activities are not well regulated in the EU, the UK and Australia, where clients’ funds are insured for a large amount in the event of the broker’s insolvency. Therefore, the company’s presence in the SVGFSA register does not guarantee the protection of client deposits.
SCAM and fraud. I was not able to withdraw money from my account, although the company promised to do it very quickly. Also, firewoodFX has not responded to my last email asking when they will pay out the money. The customer service manager is not helpful. Funds are not withdrawn and the firm's employees tell me that I need to make more deposits to withdraw profits faster!!!? All of this is pointless if you never get your money back. Please avoid firewoodfx.com.
This is terrible, what is going on at FIREWOODFX! I opened a position following their analyst's advice, but then I saw that the position was closed due to an error and my money was lost. This concerns 3,518 dollars!!! There is no compensation, only an apology from the analyst for his mistakes. Support service is also there at a low level, this is a SCAM, I do not recommend!
I haven't traded for about a month on firewoodfx.com, but I had some money in my account. Recently I decided to trade here again, but I was unable to make a trade. I found out later that I had a restricted account. The support operators explained to me that they closed my account, but why didn't they notify me immediately? This is not a decent attitude towards the trader!
I have been trading here for a long time and I don't plan to move anywhere else. The working conditions are constantly improving, for this the broker deserves great respect! Always these guys are trying to develop and keep up with the times. If you have any questions, the support will quickly help to solve them. I will note that I had one delay with payment this year, I wanted to withdraw money to Skrill e-wallet. This problem was quickly resolved by technical support. Although this delay was due to problems in the processing center and not due to the company's error. The support service quickly contacted me and offered to use another withdrawal method. Except than the case where the maximum withdrawal time was 2 days, usually everything comes within a couple of hours. Overall, FirewoodFX customer service is good.
I am having major problems here! I wanted to close a trade and the platform froze. During the reload I lost 1,865 dollars! Support is not responding. The terms of the transaction are unclear, managers have not explained anything. They are scammers who use different ways to steal customers' money. Do not trust FirewoodFX, it is a scam!
This broker allows trading from any version of MetaTrader 4. This is important for me, because I work not only on my computer, but also often use online trading. I don't really like the mobile application because it lags a lot. I started with a minimum account at FIREWOODFX and then moved to an ECN account. The commissions and execution speed for them are pretty much the same. What are the spreads like? The minimum for the euro/dollar is 2 pips. Are there any of you who are hoping for zero spreads with a deposit of 100 to 200 dollars? FIREWOODFX does not promise such conditions, spreads start here from 1 pip. By the way, you can withdraw at least 50 dollars to the card, and there is an additional commission of 5% when withdrawing.
I had a terrible situation! I deposited 1,300 dollars into an account at FIREWOODFX. The manager promised 0% commission, but when withdrawing the money the operators withheld 240 dollars for some penalties! The manager answers all questions uncertainly and only promises to help me, but does not solve the problem. In addition, this platform is slow. I tried to close the trade but encountered requotes! The price dropped while I was waiting! It's just a rip-off! Even when I asked for a withdrawal, they are slow despite promising to withdraw within 24 hours! My account has been temporarily blocked due to additional verification request. I sent the necessary documents. I'm sitting and waiting for an answer, but I haven't heard anything for a long time. Terrible company! Must be a scam.
I have been dealing with these scammers for a few months. Everything was fine until I decided to withdraw my profits. They canceled all my profitable trades for $2,100. Scammers!!! Beware of these guys!
I traded here ten years ago and I continue to trade here now. I'm doing well at the moment. Although trading doesn't always generate income every month, ultimately the capital grows by 25-35% per year. I have accumulated a large sum of money over the years and it is now held with FirewoodFX. I have been working with them for more than ten years, I am sure that it is an honest broker. I have not had any major problems at any time. Sometimes I was frustrated by minor technical issues, but they did not affect my final trading results. I can say with confidence that no problems will arise further. Besides, the terminal is very convenient. There are no problems with withdrawals at firewoodfx.com, everything is fine. What could be wrong if this company has always acted legally!!! Sometimes there are delays in payouts, but they are minor. I am not worried that the money will not come. There is an opportunity to contact technical support. They are ready to help and explain everything necessary. I often ask them some questions and they never ignore me.
They are scammers, they didn't even let me start trading, immediately blocked my account after I made a deposit of €300 in crypto.
I just started using this terminal and already lost 430 dollars in a couple of days due to their “technical problems” with the platform during important trades. However, there are no refunds, only deception and silence of support operators.
Most likely this project is not a scam because I was able to withdraw $6,300 in four months with a deposit of $4,100. Usually, scam companies don't allow you to withdraw money or withdraw more than you deposited. I withdrew $6,300 from FirewoodFX, which is more than $4,100 :)
Everything is very bad on this terminal, this service is like a cheat and a scam. I added 1,600 dollars to my balance and immediately had problems closing a profitable position. In the end, when I exited the trade my hard earned money just disappeared... Support said it was my fault and there was no refund. They are crooks! Do not trust them!
This broker firewoodfx stole $250 usd from me and it was no fun! They promised low commissions but took more than expected! Horrible service!
I trust this company it has always been a reliable broker and no delay in withdrawing money. I can't say anything about managers and support service - I didn't communicate with them as there was no need to do so. I have been trading here for a long time and I realized that the conditions for day trading here are the most favorable. My working schedule for making trades is time intervals from 13 to 17 hours. It is important for me that the chart is clear and uncluttered and this is exactly the quality that the MT4 platform has - it is very modern and high quality! I haven't seen anything better than MetaTrader4 yet. Meanwhile, I make a withdrawal order once a month and so far the withdrawals have always been without any problems or delays. I could go on saying many more good things about FirewoodFX broker, but I'd better stop for now 🙂
I rate firewoodfx service as very bad!! Withdrawal of money is delayed constantly. At first employees say that everything will be processed in 24 hours, and then they postpone withdrawal for two weeks. Support is available, but all I see from them are standard replies. I have lost more here than anywhere else and I have screenshots to prove it!!! I will find another broker as this one does not suit me at all.