Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates. These trading platforms are offered in three languages which include English, Chinese and Indonesian. Professional Trader and Money Managers can open, manage, and close orders in multiple accounts simultaneously, using various trade size allocation methods with the Multi-terminal program.
Risk Warning
Real-time analysis and Expert Advisors are highly appreciated by modern-day traders, and these features can significantly improve your portfolio and make your profits more lucrative. It offers download or install free trading and never require any plugin or software on your devices. The web trader platform offers 9 Different timeframes, clear graphical objects, trading history, and full trading order types. User friendly account features and options help traders to earn maximum profit and hassle-free trading.
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FirewoodFX offers a customer support team on a 24/5 basis should you require assistance. This broker does not offer a telephone line for support contact, however, the live chat prompt responds and is in fact, a more effective method of contact in the case of a trade query or issue. FirewoodFX offers a handful of bonuses and promotional schemes including a Deposit Bonus which all clients can take advantage of. This bonus scheme gives 20% of your deposit, on top of what you fund your account with.
- All account types offer commission-free trading and fixed spreads, which explains why the spreads offered are wider than what has become standard with other brokers.
- FirewoodFX, established in 2014 and headquartered in Saint Vincent and the Grenadines, operates as an unregulated entity in the financial markets.
- The processing time for transactions usually depends on your location.
- In addition, a Forex Glossary and Margin Calculator can be found directly on the website, so there are ample tools for both the newer and more experienced traders to benefit from.
- Sometimes it could take up to several hours before your transaction is finished.
- FirewoodFX is an online forex and CFD broker based out of the Caribbean in Saint Vincent and the Grenadines.
Client support
Although FirewoodFX has received numerous awards since its inception in 2014 and personal reviews are positive, it is an offshore company that is not regulated. Client funds are not safe and there is great risk involved when using it as a broker. The team that operates at the brokerage has https://traderoom.info/ experience in the financial industry and can deliver an outstanding trading experience. Discover how Crypto Fund Trader revolutionizes prop trading with its unique platform. Dive into our comprehensive review of CFT’s trading challenges, capital access up to $200,000 in virtual funds…
Aside from those, FirewoodFX also offers a Glossary, Margin Calculator, and News section. The account offers swap free trading for Muslim traders and 100% charge & commission free trading for all clients. The FirewoodFX offers three types of accounts that offers two types of pricing format. Simply the 3 accounts are for 3 level traders, beginner, intermediate and professional. Additionally, FirewoodFX equips traders with essential tools, including an economic calendar, VPS hosting, one-click trading, and trading signals. One-click trading streamlines order execution, while trading signals offer guidance based on technical and fundamental analysis.
The trading could be more profitable, if you know what risk to choose, so the deposit amount is one of this part. This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
FirewoodFX accepts clients from all over the world, excluding USA. Trade with a US-friendly Forex broker on advanced platforms for free. The offering stop out level is 20% and Stop & Limit Levels are 2 Pips only. The brand Firewood Global Ltd is the owner and operator of the FirewoodFX broker. It is an offshore regulated firm, the main office is located at Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent, and the Grenadines.
First, we should start talking about trading fees that are present on the FirewoodFX website. For Standard and Micro accounts spreads start from 2 and 3 pips respectively. There are no commissions as we can see on these accounts, which may seem good at the first sight, but every broker firewoodfx review needs a reliable source of income, which in this case is absent. With the development of social media and smartphones, the financial world was also forced to make adjustments. Nowadays, almost all brokerages offer a mobile version of their websites, and FirewoodFX is no exception.
The registered address is Suite 305, Griffith Corporate Centre, Kingstown. Read on to discover if FirewoodFX is a broker you can trust, or you should keep your hard-earned cash as far away from them as possible. In the financial trading service, most brokers offer the MT4 or the newer version MT5 platform. It is available from the web (anywhere, any browser), Mobile (iPhone / iPad & Android).
Founded in 2014, FirewoodFX is an online forex and CFD broker based out in Saint Vincent and the Grenadines, Caribbean. It is an offshore broker in this jurisdiction and not regulated by any government agency. As FirewoodFX does not hold any license, trading here does pose a risk, and if something unexpected should happen to the broker, there is no assurance that client money will be safe. FirewoodFX accepts clients from all over the world, excluding the United States of America as clients from that jurisdiction fall under strict rules when trading.
All withdrawal processing times are shown on the website, with all aside from wire transfer and card withdrawals (which are within 48 hours), are processed within 24 working hours. Of course, the time is taken for you to actually receive your funds may vary depending on your banking provider or third party processors. FirewoodFX is a well-established broker since2014.FirewoodFX hasa headquarter in.FirewoodFX to provide their Forex/CFD trading services to global clients. Since FirewoodFX is a relatively new name in the Forex trading sky, many investors are still not quite familiar with this particular broker house.
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