Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from FirewoodFx review
About the broker
| Web: | https://firewoodfx.com |
| Supported languages: | English |
| Year of foundation: | 2014 |
| Holder: | Firewood Global Ltd. |
| Headquarters: | Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent And Grenadines |
| Methods of contacting customer support: | E-mail, phone |
| Contact: | support@firewoodfx.com, +442036083558 |
| Deposit methods: | Bank transfer, VISA, MasterCard, FasaPay, Local Exchangers, Neteller, PerfectMoney, Skrill, UnionPay |
| Withdrawal methods: | Bank transfer, VISA, MasterCard, FasaPay, Local Exchangers, Neteller, OKPAY, PerfectMoney, Skrill |
About trading with FirewoodFx
| Minimum deposit: | 10 USD |
| Min. trade: | 0.01 |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:1000 |
| Spreads: | Look at the spread table - spread on the currency pair EUR/USD is 3.0 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (30) |
| Base currencies: | USD |
| Mobile app: |  |
| MetaTrader 4: | |
| Other trading platforms: | WebTrader |
| Social trading: |  |
Spreads & fees
Fees of most brokers change relatively often and unfortunately it is not in our possibilities to keep up-to-date information about fees at FirewoodFx, of course you can find current info on their website https://firewoodfx.com.
Spreads at FirewoodFx on standard account*
| EUR/USD | GBP/USD | USD/JPY | EUR/GBP | USD/CHF | EUR/JPY |
|---|---|---|---|---|---|
| 3.0 | 4.0 | 3.0 |
* Spread was taken 17.01.2020 at 21:29 from the web or trading platform of FirewoodFx.
Random reviews of competing CFD brokers: Spectre, NSBroker, Investizo and TeleTrade.eu
Frequently Asked Questions
🧐 Is FirewoodFx a scam?
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. It will help you to determine if FirewoodFx is a scam or not.
🆓 How to open a free demo account?
Opening a demo account with FirewoodFx is very simple, just register on their website.
📱 Does FirewoodFx offer the best mobile app for trading?
FirewoodFx offers a mobile trading app and you can definitely start trading with it. It is very difficult and subjective to determine if they feature the best mobile platform. However, you are welcome to test it yourself.
We compared some reputable brokers and their mobile trading apps, check out the comparison and be saved from the hassle of testing the FirewoodFx mobile app.
We operate our website in full transparency, we recommend reliable brokers with an excellent reputation and we honestly admit to you that we receive commissions for that from these brokers. You can find the mentioned brokers in the table below with a clickable link to their site. You don't pay anything extra, you get a reliable business partner and you help us keep the website up and running. Thank you.
| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 | | 100 USD | 1.0 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Etoro. | In-house built platform | FCAASICCySec | etoro.comreview EUR/USD*: 1.0 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of XTB. | In-house built platform | FCA CySec | xtb.comreview EUR/USD*: 0.9 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of XTB. 74% of retail investor accounts lose money when trading CFDs with this provider |
 | | 100 USD | 0.8 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Plus500. | In-house built CFD platform | FCAASICCySec | plus500.comreview EUR/USD*: 0.8 pips Spread was taken 15.11.2024 at 11:12 from the web or trading platform of Plus500. 80% of retail investor accounts lose money when trading CFDs with this provider |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Comparing spreads, fees, trading platforms, regulations and reading dozens of user reviews of all popular FX and CFD brokers is very time-consuming for every trader. That is why we have done all this hard work for you so you could already only start trading with a company that features a quick modern trading platform, a large variety of assets and a quick customer service. From our comparisons, all these criteria are met by Etoro 51% of retail investor accounts lose money when trading CFDs with this provider - advertising partner.
That is why it is important to choose the right one. Choosing the right broker often stands between profit and loss. Don't you know how to choose? We have prepared an independent article for you, which will help you with your broker selection. You will get to know, what factors are important to watch out for when you are choosing a forex/CFD broker.
If you have any experience with FirewoodFx, please share it in the comments to help others to choose the suitable broker.