The FirewoodFX broker, which was founded in 2014, immediately focuses on the Asian market, including Indonesia. Among the strategies it employs to attract traders' attention are providing an Indonesian language option on its website, working with local exchangers, and setting a fixed exchange rate of IDR 10,000/USD for deposits and withdrawals.
FirewoodFX broker offers STP forex trading services with a 4-digit price format via the MetaTrader 4 platform. The trading server is located at Equinix NY4, a world-class financial facility in the United States, and can be connected across leading Forex VPS. With such infrastructure, this forex broker intends to provide clients with the best forex trading experience.
What's interesting about FirewoodFX is the trading competitions they often hold. This broker routinely holds trading competitions almost every month to increase trader interest. The prizes it offers are also very attractive, namely a total prize of USD 1000 to be deposited into the winners' accounts. The winner of the trading competition is judged based on the highest profit generated. Until now, FirewoodFX has held 28 trading competitions.
Apart from that, joining the FirewoodFX broker can be easy and practical. New traders don't need to bother uploading various documents. You are only required to upload a few documents if you want to claim a promotional bonus.
Trading at FirewoodFX is reliable thanks to very fast execution and no requotes because it uses market orders. You can also choose a swap-free account for more sharia trading activities.
| Broker Name | FirewoodFX |
| Broker type | STP |
| Website | Click here to visit FirewoodFX's official page |
| Company | Firewood Global Ltd |
| Founded On | 2014 |
| Headquarters | St. Vincent and the Grenadines |
| Regulators | St. Vincent and the Grenadines (Reg Number: 22160 IBC 2014) as Firewood Global Ltd |
| Customer service | Phone, email, and live chat |
| website language | English, Indonesian, Mandarin, and Filipino |
| Deposits And Withdrawals | Credit Card, Fasapay, Skrill, Neteller, Wire Transfer |
| Trading platforms | Metatrader4 for PC, MetaTrader 4 Web. MetaTrader 4 Mobile (iPhone and Android), and MetaTrader 4 Multi Terminal |
| Trading instruments | Accommodates as many as 36 pairs of forex, gold, and silver |
| Spreads | Fixed Spreads |
| Minimum initial deposit | 10 USD (fixed rate at IDR 10,000/USD) |
| Account Currency | USD |
| leverage | Up to 1:1000 |
| Minimum Lots | 0.01 lot (Micro Account), 0.01 lot (Standard Account), and 0.1 lot (Premium Account) |
| Account Type | Standard, Premium, and Micro |
| Hedging | ✔️ |
| Scalping | ✔️ |
| Margin Call/Stop Out | 20% |
Advantages of FireWoodFX
- Clarity of Corporate Identity
As a company based in St.Vincent and the Grenadines, one of the densely populated island nations in the Caribbean Sea, FirewoodFX is not under any special regulatory authority in the financial sector. However, Firewood Global Ltd is licensed as an independent company from the government of the Commonwealth of England and has a clear address. - Easy Registration Requirements
FirewoodFX provides trading facilities that are 'not adventurous'. Simple registration requirements; You don't need to upload any documents except if you want to claim a promotional bonus. - Application of Fixed Exchange Rates for Indonesian Traders
FirewoodFX's commitment to Indonesian traders is no joke, as seen from the fixed exchange rate of IDR 10,000. This rate setting can benefit traders because they are no longer harmed by the difference in the buying and selling rate spread when making deposits and withdrawals. - Multiple Strategies Allowed
By allowing various trading styles, including hedging, scalping, and trading robots, FirewoodFX is suitable for those just starting their trading career in the forex world.
FirewoodFX Achievements
Even though it is still relatively new, FirewoodFX already has a number of brilliant achievements from various international agencies. The awards they received included: Best STP Broker in South East Asia 2017 (Global Banking And Finance), Broker of the Year Asia 2016 (Le Fonti Awards), Fastest Growing New STP Broker Asia 2016 (Global Banking And Finance), Best Broker in Southern Asia 2015 (Forex Report), and Best New STP Broker South East Asia 2014 (Global Banking And Finance).
Recommendations and Suggestions
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The selling points of FirewoodFX lie in the ease of registration process, fixed exchange rate offers for Indonesian traders, and leverage up to 1:1000. The minimum lot requirements are also very friendly to beginners because you can start trading with a 0.01 lot micro account.
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For clients looking for a simple forex broker without complicated requirements, FirewoodFX can be a reference. FirewoodFX is a forex broker that does not hold many promotional programs or bombastic offers but has never found any significant complaints about its services.