Global Broker Regulation Inquiry App

Broker Search

English

简体中文

繁體中文

English

Pусский

日本語

ภาษาไทย

Tiếng Việt

Bahasa Indonesia

Español

हिन्दी

Filippiiniläinen

Français

Deutsch

Português

Türkçe

한국어

العربية

您当前语言与浏览器默认语言不一致，是否切换？

切换

Download

Home -

Forex Encyclopedia -

Main body -

WikiFX Express

Firewood Login by Step

Firewood FX Broker Review: Is It Safe and Regulated?

WikiFX | Three days ago

Abstract：Firewood FX is a forex broker established in 2014 and registered in Saint Vincent and the Grenadines. It operates without any financial regulatory oversight, which makes it an unregulated broker. The lack of regulation means there is no official oversight to protect traders, which increases the risks associated with trading on this platform. Traders should be cautious when considering this broker.

Firewood FX is a forex broker established in 2014 and registered in Saint Vincent and the Grenadines. It operates without any financial regulatory oversight, which makes it an unregulated broker. The lack of regulation means there is no official oversight to protect traders, which increases the risks associated with trading on this platform. Traders should be cautious when considering this broker.

Regulated by:

Regulator	Regulation Status	License Number
Not Regulated	Unregulated	N/A

Pros and Cons

Pros	Cons
Various trading options (Forex, Gold, Cryptos, Oil)	Unregulated, no oversight from reputable bodies
Demo accounts available	Regional restrictions (e.g., United States, North Korea, Iran)
Cent account offered	Limited trading instruments (No Stocks, ETFs, Bonds, etc.)
Multiple account types (Cent, Micro, Standard, Premium, ECN)	No MT5 platform support, only MT4 available
Commission-free for most accounts	High leverage (up to 1:3000) can be risky
Low minimum deposit ($10)	Limited payment methods and currencies for withdrawal
Multiple payment options (Credit Card, Perfect Money, etc.)	Processing times for some methods can be slow
Live chat support	No coverage for Indices, Stocks, and Bonds

FAQ: What You Want to Know Most

Q1: Is Firewood FX regulated?

A1: No, Firewood FX is an unregulated broker. This means there is no official financial oversight, which could potentially expose traders to higher risks.

Q2: What are the pros of Firewood FX?

A2: Firewood FX offers various trading options, including Forex, Gold, Cryptos, and Oil. It also provides demo accounts, low minimum deposits, and commission-free trading for most accounts.

Q3: What are the cons of Firewood FX?

A3: The main drawbacks include the lack of regulation, regional restrictions, and a limited range of tradable instruments. The broker also only supports the MT4 platform, with no MT5 option.

Q4: What is the maximum leverage at Firewood FX?

A4: Firewood FX offers leverage up to 1:3000 for Cent accounts and up to 1:1000 for other account types. However, using high leverage can increase the risk of losing your deposited funds.

Q5: Can I trade Stocks or ETFs on Firewood FX?

A5: No, Firewood FX does not offer trading in Stocks, ETFs, Bonds, or Options. It only supports Forex, Gold, Cryptos, and Oil.

Q6: How can I deposit funds into my Firewood FX account?

A6: Firewood FX supports several payment methods including Bank Transfer, Credit Card, QRIS, Virtual Accounts, and Perfect Money. Processing times vary depending on the method used.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.