FirewoodFX Broker Review 2025

FirewoodFX, as a forex broker, offers five live account types including Cent, Micro, Standard, Premium, and ECN; Offering floating spreads starting from 0 pips with zero commission on most accounts, along with leverage up to 1:3000, are among the key highlights of FirewoodFX.

Company Information and Regulation of FirewoodFX

FirewoodFX operates under the brand Firewood Global Ltd. The broker started operations in 2014, aiming to deliver a high-quality trading experience to clients of all levels.

With a focus on enhancing trader profitability and supporting effective money management, FirewoodFX seeks to establish a transparent and client-friendly trading environment.

Here is key information about the Firewood broker:

• Founding Company: Firewood Global Ltd
• Registration Number: 22160 BC 2014
• Founding Location: St. Vincent and the Grenadines
• Regulation Status: Officially registered in SVG, but there is no report of meaningful regulation under any recognized international regulatory authority
• Awards: Winner of multiple awards as the “Best Social Trading Platform 2022”

Here are some things you better know about FirewoodFX broker:

FirewoodFX Broker Specifications

FirewoodFX brings traders a highly competitive environment, with spreads starting from 0 pip and a wide range of deposit and withdrawal options to make trading seamless.

With leverage of up to 1:3000, the broker offers flexibility for both new and experienced traders to execute their strategies effectively.

Dive into the full specifications below and discover what this broker has to offer:

FirewoodFX Account Types

FirewoodFX offers five live account types, ranging from Cent and Micro accounts designed for small-scale traders to ECN accounts tailored for high-volume professionals.

Each account provides flexible trading conditions, access to high leverage, and competitive spreads.

Explore the specifications below to find the account type that best fits your trading style:

New traders can start easily with low minimum deposits, micro lots, and flexible leverage, while professional traders benefit from high maximum trade sizes, floating spreads from 0 pip, and ECN accounts for advanced execution.

FirewoodFX Pros and Cons

FirewoodFX offers something for everyone. Beginners can start easily with low deposits, cent accounts, and simple access to Forex, Gold, and Cryptos.

More experienced traders can take advantage of multiple account types, high leverage, and advanced trading option. while keeping an eye on a few limitations.

FirewoodFX advantages and disadvantages:

Step-by-Step Guide to Opening Account on FirewoodFX

Signing up for FirewoodFX is straightforward and quick. Simply follow the steps below, one by one:

#1 Start from the Official Website

 First, go to the FirewoodFX website and click on “Open Account”.

#2 Enter Your Personal Information

At this step, you’ll need to enter your personal details such as full name, email, password, country, and phone number.

#3Choose Your Account Type and Leverage

Choose the type of account you want to open. FirewoodFX has five types of accounts to choose from. Now you can choose the amount of leverage you want.

#4 Agree to the Terms and Open Your Account

Finally, click the hyperlink on the sentence "By signing up, I agree to Firewoodfx's Customer Agreement", Carefully read the terms and conditions that appear in the new window, and make sure you don't mind them.

After that, return to the previous window, check the column next to the sentence earlier, then click "Open an Account".

#5 Registration Confirmation Message

If the registration is successful, you will get a message from the broker.

#6 Trading Account Login Details

Check your email for your MT4 number, trading password, and PIN number. The MT4 number and PIN will later be used to access your client cabinet at FirewoodFX in order to log in, verify, deposit, and withdraw, as well as check balances and other procedures.

#7 Document Verification

Navigate to the client cabinet from the FirewoodFX homepage, then enter your MT4 number and PIN in the prompted window. Next, select the “Verify” option and upload the two required documents in the designated area.

If you encounter any issues during the registration or verification process, the live support available on the FirewoodFX homepage is ready to assist you.

Once your documents are uploaded, wait for FirewoodFX to confirm approval. After verification, you can immediately deposit funds and start trading forex with FirewoodFX.

What is FirewoodFX Broker Trading Platform?

FirewoodFX uses MetaTrader 4 (MT4), one of the most popular and reliable trading platforms in the world. MT4 offers powerful tools for analysis, automated trading, and signal services. Here are the key features:

• 50+ built-in indicators and charting tools for in-depth technical analysis;
• Multi-language interface for global accessibility;
• Auto trading via MQL4, allowing you to automate your strategies;
• Copy trading support from Metaquotes signals;
• MT4 Mobile: Available on iOS and Android, trade anytime, anywhere;
• MT4 Web: Trade directly in your browser, with access to all trading orders and 9 timeframes;
• MT4 Multi Terminal: Manage multiple accounts simultaneously, perfect for professional traders and money managers.

Although some traders prefer to manage their trades on platforms like MT5 or cTrader, but MT4 provides almost all the essential features and remains an extremely popular trading platform.

Commission & Spread Overview

At FirewoodFX, the commission and spread structure is designed to appeal to both casual traders and professionals alike.

Both the commission and spreads at FirewoodFX are low. check out the details below:

Does FirewoodFX Charge Swap Fees?

FirewoodFX charges swaps on all its account types, from Cent and Micro to Standard and ECN, meaning overnight positions have to pay a fee. Swap fees apply only to certain trading instruments, while others are free of charge.

Interestingly, the broker offers an Islamic account, which allows traders to hold positions overnight without paying any swap fees.

Note: It’s good to know that the broker offers an Islamic account, allowing traders to hold positions overnight without any swap fees.

moving forward You can see some examples of swap fees in FirewoodFX:

Non-Trading Commissions

According to official sources, FirewoodFX does not charge any inactivity fees or other non-trading costs, making it a transparent and cost-effective choice for traders.

FirewoodFX Broker Deposit & Withdrawal Methods

At FirewoodFX, funding your account and making withdrawals is simple, with a range of popular payment methods available. With a variety of payment methods and mostly instant processing, the broker ensures a smooth experience for traders.

Before we begin with the tutorial, here is the complete list of FirewoodFX payment methods that you can use to make deposits and withdrawals:

FirewoodFX Deposit Guide

Following this, we will take a detailed look at the steps involved in depositing funds with FirewoodFX broker:

1. Visit the broker’s official website or open the mobile app;
2. Select “Deposit” on the live account you wish to fund;

  3. On the next screen, you’ll see all available deposit methods. Note that the options may vary depending on your region or country. Your FirewoodFX account number and current balance are displayed at the top. Choose the method you want to use, but make sure to review its conditions first;

 4. Enter the amount you want to deposit in USD. The minimum deposit is $10 for Cent, Micro, and Standard accounts. For Premium and ECN accounts, the minimums are $100 and $200, respectively;

 5. Follow the on-screen instructions to complete the transfer. You might be redirected to the payment provider’s page. Once done, click “Payment Done”.

Your deposited funds will appear in your account balance once the transaction is processed.

FirewoodFX Withdrawal Guide

We will now walk you through the straightforward steps for making a withdrawal at FirewoodFX:

1. Log in to your FirewoodFX Client Cabinet via the website or mobile app and select the account you want to withdraw from;
2. Click the “Withdraw” button to begin the process;

  3. Choose your withdrawal method, either an internal transfer to another FirewoodFX MT4 account or an external transfer to a local bank;

  4. If opting for an external bank transfer, select the destination bank;

 5. Enter your destination account details and the withdrawal amount. Make sure this account matches the one used for your initial deposit. Then click “Continue” to submit your request;

  6. Your withdrawal request will be sent to FirewoodFX and processed, typically within 24 hours. You will also receive a confirmation email for added security;

  7. Once approved, the funds will be automatically deducted from your trading account and transferred to the selected destination.

Copy Trade and Other Investment Options of FirewoodFX

FirewoodFX offers a few attractive options for investors who want to do more than trade manually.

One of the standout features is copy trading, branded as ForexCopy, which lets less experienced traders follow and replicate trades made by seasoned professionals (Leaders). For those who prefer to lead rather than follow, becoming a Leader can also generate income.

Here are key points to understand:

• Traders who want to be Followers simply enter a Leader’s MT4 account number, set their trade volumes (by lot or percentage), and once approved, the trades are copied automatically;
• Those who wish to be a Leader must apply via the ForexCopy portal; once approved, their trades are available for followers to copy;
• Copy trading under FirewoodFX is built into the MetaTrader 4 platform and accessible through both web and app versions;
• No extra subscription or special account type is required specifically for copy trading. users of eligible MT4 accounts can use this service.

Keeping up with trading innovations, FirewoodFX introduced its own PAMM (Percentage Allocation Management Module) service back on May 9th, 2016. With this feature, clients can choose to participate either as an Investor or as a Fund Manager.

As an Investor, you may allocate a portion of your capital to a Fund Manager with a proven track record.

The Fund Manager then trades not only with their own funds but also with the pooled investments of their clients, under specific conditions, aiming to generate profits for all parties involved.

• The PAMM system calculates profits and fees automatically, freeing Fund Managers to focus solely on trading;
• Fund Managers cannot withdraw investor capital they are only authorized to trade with it;
• Trading results are regularly tracked and published, allowing investors to evaluate managers before committing funds;
• PAMM offers skilled traders a platform to showcase their strategies and build credibility, while also attracting potential investors.

Tradable Instruments of FirewoodFX Broker

FirewoodFX’s Clients can trade popular Forex pairs, indices and cryptocurrencies, all within the same platform. Each category comes with its own set of trading conditions, spreads, and leverage options, giving traders the flexibility to build a portfolio that matches their strategy.

Here is an overview of the available instruments:

What bonuses are available at the FirewoodFX?

FirewoodFX always offers attractive and practical bonuses, designed to help users grow their accounts faster and more efficiently. Simply Make a deposit and get up to 88% bonus.

This bonus comes with the following features:

• all account types are eligible for this promotion;
• Minimum deposit to claim the bonus is USD 10;
• Maximum bonus amount per trading account is USD 10000;
• Bonus will be cancelled if equity is less than credit;
• Client can withdraw the bonus after closing certain amount of lot.

FirewoodFX Awards

Over the years, the broker has earned multiple awards in recognition of its commitment to quality and innovation, including accolades for best trading conditions, client support, and innovative account offerings.

Some of the FirewoodFX awards include:

• Winner of “Best Social Trading Platform 2022”
• Winner of “Best FX Broker, Asia 2021”
• Winner of “Best STP Broker 2020”
• Winner of “Best STP Broker 2019”
• Winner of “Best STP Broker 2018”
• Winner of “Broker of the Year Asia 2017”

FirewoodFX Customer Support

FirewoodFX offers 24/5 customer support, ensuring traders can get help in trading days.

Their team is ready to answer questions regarding account setup, deposits and withdrawals, trading platforms, and more.

Traders can rely on responsive and professional assistance through live chat, email, Ticket and other available communication channels.

FirewoodFX Banned Countries

FirewoodFX, like many international brokers, has certain restrictions on where it can legally offer its services.

This means that traders from some countries are not permitted to open accounts or trade with the broker. Below is a list of countries currently restricted:

• United States of America
• North Korea
• Iraq
• Iran
• Saint Lucia
• Saint Vincent and the Grenadines

FirewoodFX on Review Websites (Trust Scores)

One of the most important aspects when evaluating a broker is the satisfaction of its clients. Overall, FirewoodFX has managed to earn positive feedback and high ratings from its users.

The upper table shows some of the top review websites and the ratings they have given to FirewoodFX.

FirewoodFX Educational Materials

The broker provides some basic tutorials, important news, and useful articles on its website to help increase users’ knowledge and awareness. These materials can be especially helpful for beginner to intermediate users.

• Trading Glossary: An extensive list of trading terms and definitions;
• MarketNews: Professional perspectives on today’s market trends, paired with key financial news.

Comparing FirewoodFX with Other Brokers

To help you make a better choice and understand FirewoodFX’s actual position, we compare it below with well-known brokers such as LiteForex, FxPro, and OctaFX in terms of spreads, leverage, and other key features.

Conclusion and Final Words

FirewoodFX offers trading on over 30 Forex pairs along with Gold, Oil, and Cryptos via MT4, with leverage up to 1:3000.

In addition, FirewoodFX also supports PAMM accounts and Copy Trading services, allowing traders to follow experienced managers or share their own strategies with investors. However, for now it operates without major regulatory oversight.