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Do you want to know which is the better broker between eToro and FirewoodFX ?
In the table below, you can compare the features of eToro , FirewoodFX side by side to determine the best fit for your needs.
EURUSD: 1.6
XAUUSD: 3.4
Long: -8.52
Short: 3.17
Long: -22.64
Short: 6.57
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of etoro, firewoodfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
eToro | Basic Information |
Founded in | 2007 |
Headquarters | United Kingdom |
Regulations | CySEC, FCA, ASIC |
Tradable Assets | Stocks, Cryptocurrencies, Currencies, Commodities, ETFs |
Minimum Deposit | $10 |
Trading Fees | Commission-free trading, Spreads from 0.75 pips on EUR/USD |
Non-Trading Fees | Withdrawal fee of $5, Inactivity fee of $10/month after 12 months of inactivity |
Leverage | Up to 1:30 for retail clients, up to 1:400 for professional clients |
Trading Platforms | eToro proprietary platform, MetaTrader 4 |
Mobile Trading | Yes, available on iOS and Android |
Customer Support | 24/5 live chat, email support |
Educational Resources | Social trading, educational videos, blog articles, eToro Academy |
Demo Account | Yes, unlimited time |
Other Features | CopyTrader, Popular Investor Program, eToro Wallet |
eToro is a multi-asset social trading platform that has gained widespread popularity among investors, traders, and social media enthusiasts since its inception in 2007. It offers users access to a wide range of financial instruments, including stocks, cryptocurrencies, forex, indices, and commodities, among others. The platform provides a user-friendly interface that caters to both novice and experienced traders alike, making it one of the most popular trading platforms on the market.
One of eToro's standout features is its social trading capabilities, which allow users to copy the trades of successful traders and build their investment portfolios. The platform has a large community of traders who share insights, strategies, and knowledge, making it an excellent learning resource for traders looking to improve their skills.
eToro is a legitimate and regulated online brokerage firm that has been operating since 2007. It is licensed and regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The company is also a member of the Investor Compensation Fund, which provides additional protection for traders' funds. However, as with any investment platform, there are risks involved in trading, and traders should always be aware of the potential risks and take steps to protect their investments.
eToro's user-friendly interface, range of trading assets, and social trading features have made it popular among both beginner and experienced traders. However, as with any trading platform, eToro has its pros and cons, which potential users should consider before signing up. In this section, we will discuss the advantages and disadvantages of using eToro as a trading platform.
Pros | Cons |
User-friendly and easy-to-use platform | Higher spreads compared to some other brokers |
Regulated by reputable financial authorities | Limited range of tradable assets |
Copy trading and social trading features | Limited research and analysis tools |
Wide range of payment methods | Inactivity fee charged after 12 months of inactivity |
Commission-free trading on stocks and ETFs | Withdrawal fee of $5 |
Demo account available for practice | Limited customer support options |
Market Instruments
eToro offers a wide range of financial instruments for traders to choose from, covering various markets globally. Traders can access more than 2,400 assets, including popular currencies, commodities, indices, and stocks from exchanges around the world. Furthermore, eToro enables traders to trade cryptocurrency, such as Bitcoin and Ethereum, which has become a popular asset class in recent years due to its high volatility and potential for substantial profits. With this wide range of instruments available, traders can diversify their portfolios and explore various markets to find the best investment opportunities.
Pros | Cons |
Wide variety of assets including stocks, cryptocurrencies, commodities, forex, and more | Limited selection of options and futures contracts |
Commission-free trading on most instruments | Limited research tools for fundamental analysis |
Availability of social trading, allowing for copy trading and following other traders' strategies | Limited access to less popular or niche assets |
Option to trade fractional shares for stocks, making it accessible to investors with small capital | Limited trading hours on certain assets, such as cryptocurrencies |
Lack of transparency in pricing structure for some assets |
eToro provides traders with two primary types of accounts to choose from, namely the Retail and Professional accounts. These account types differ in various aspects, such as trading features, account requirements, leverage limits, and the level of regulatory protection they offer.
eToro's Retail account is suitable for most traders and investors. This account type requires a minimum deposit of $500 and provides access to all eToro's trading instruments, including cryptocurrencies, stocks, ETFs, commodities, and more. Retail account holders can also benefit from eToro's social trading features, which allow users to follow and copy other successful traders on the platform. However, retail account holders are limited to a maximum leverage of 1:30, as per regulatory requirements.
eToro's Professional account is designed for experienced traders who meet certain criteria, such as having a minimum of two years of trading experience and meeting certain financial thresholds. This account type provides access to higher leverage of up to 1:400, and allows users to benefit from reduced margin requirements and negative balance protection. However, professional account holders are not eligible for certain investor protection rights, such as compensation schemes, as they are deemed to have a higher level of trading knowledge and experience.
Aspects | Pros | Cons |
Account Types | Offers both retail and professional accounts | Professional accounts require certain qualifications |
Minimum Deposit | Low minimum deposit requirement for retail account | High minimum deposit requirement for professional account |
Commission | No commission on trades for most assets | Higher spreads compared to other brokers |
Leverage | Up to 1:30 for major currency pairs | Limited leverage options for professional accounts |
Platform | User-friendly platform with social trading features | Limited customization options |
Customer Support | 24/7 customer support in multiple languages | Phone support only available during market hours |
To open an account with eToro, you need to follow these steps:
Go to the eToro website and click on the “Join Now” button.
Enter your personal information, including your name, email address, and phone number.
Verify your email address by clicking on the verification link sent to your email. Provide additional information, including your date of birth, address, and tax ID number. Agree to the terms and conditions and submit your application.
Wait for eToro to review and approve your account, which usually takes a few minutes to a few business days.
After approval, you can fund your account with preferable payment methods and then start your real trading with this broker.
eToro offers a demo account for traders who want to practice trading strategies without risking real money. The eToro demo account provides $100,000 in virtual money and is valid for an unlimited amount of time, allowing traders to familiarize themselves with the platform and practice their trading skills.
To open a demo account, traders can simply sign up for an eToro account and select the option to use the demo account. It's important to note that the eToro demo account does not require any deposit or funding, making it a risk-free way to test out the platform.
When using the demo account, traders should keep in mind that the virtual money provided is not real, and any profits or losses made are also not real. It's also important to note that while the demo account provides a good introduction to the platform, it may not accurately reflect the actual market conditions and trading experience.
eToro offers leverage for trading various financial instruments. The maximum leverage provided by eToro varies depending on the instrument and the jurisdiction of the client. For example, for major forex pairs, eToro offers leverage up to 1:30 for retail clients and up to 1:400 for professional clients. For commodities such as gold and silver, leverage can be up to 1:20 for retail clients and up to 1:100 for professional clients. For stocks, eToro offers leverage up to 1:5 for both retail and professional clients. It is noted that high leverage can amplify your potential returns, but more importantly, it can increase your risks.
eToro's spreads vary depending on the asset being traded. The platform charges variable spreads, which means that the spread can widen or narrow depending on market conditions. The typical spread for major currency pairs such as EUR/USD and GBP/USD is around 3 pips during normal market conditions. However, this can vary depending on market volatility and liquidity.
For other assets, such as cryptocurrencies and commodities, eToro's spreads are generally higher. For example, the spread for Bitcoin can range from 0.75% to 5% depending on market conditions.
Pros | Cons |
Zero commission on stock and ETF trading | Wider spreads compared to other brokers |
Competitive spreads on major forex pairs | Overnight fees charged on leveraged positions |
No hidden fees or surprises | Limited selection of exotic currency pairs |
Transparent pricing | Higher spreads on cryptocurrencies |
Tight spreads on commodities and indices | Spreads can widen during volatile market conditions |
In addition to spreads and commissions, eToro also imposes a few non-trading fees that traders should take into consideration before trading on this platform. These fees include:
Withdrawal fee: eToro charges a withdrawal fee of $5 per withdrawal. This fee is relatively low compared to other brokers.
Inactivity fee: If you don't log in to your eToro account for 12 months, an inactivity fee of $10 per month will be charged to your account. This fee is charged until you log in again or until your account balance reaches zero.
Overnight fees: eToro charges overnight fees or rollover fees for positions held open overnight. The amount of the fee depends on the instrument traded, the direction of the position, and the size of the position.
Currency conversion fee: If you deposit funds in a currency different from the base currency of your account, eToro charges a currency conversion fee. The fee is 0.5% of the deposited amount, and it's calculated based on the exchange rate at the time of the conversion.
Pros | Cons |
No commissions on stock and ETF trading | Higher spreads compared to other brokers |
No deposit fees | High withdrawal fees |
No account maintenance fees | Inactivity fee after 12 months of inactivity |
No fees for using the CopyTrader feature | Limited payment methods |
No fees for currency conversion | Overnight fees for positions held overnight |
High fees for using PayPal as a payment method |
eToro offers its proprietary trading platform, which is designed to be user-friendly and intuitive, particularly for novice traders. The platform provides a variety of tools and features, including real-time market data, advanced charting tools, and an easy-to-use order entry system.
One of the most notable features of the eToro platform is its social trading functionality, which allows users to follow and copy the trades of successful traders. This feature is particularly appealing to new traders who may lack the knowledge or experience to make their own trades.
In addition to its proprietary platform, eToro also supports the popular MetaTrader 4 (MT4) platform, which is widely used by traders around the world. MT4 is known for its advanced charting capabilities, extensive library of technical indicators, and the ability to automate trading strategies through the use of Expert Advisors (EAs).
Here is a comparison table of the trading platform offered by eToro, FP Markets and Exness:
Broker | Trading Platform | Desktop | Web-based | Mobile |
eToro | eToro Platform | ✔️ | ✔️ | ✔️ |
FP Markets | MetaTrader 4 (MT4) | ✔️ | ✔️ | ✔️ |
Exness | MetaTrader 4 (MT4) | ✔️ | ✔️ | ✔️ |
eToro accepts multiple payment methods, including credit/debit cards, bank transfers, and e-wallets such as PayPal, Neteller, and Skrill. The minimum deposit amount is $10, which is relatively low compared to other brokers in the industry. Deposits are usually processed instantly or within one business day, depending on the payment method. eToro does not charge any deposit fees, but some payment providers may have their own fees.
eToro allows you to withdraw funds using the same payment methods as deposits.The minimum withdrawal amount is $30, and there is a withdrawal fee of $5.Withdrawals are usually processed within one business day, but it may take longer for bank transfers.Before making a withdrawal, you need to verify your identity and complete the necessary KYC (Know Your Customer) procedures. eToro also has a policy of returning funds to the original payment method used for deposits, whenever possible.
Pros | Cons |
Wide range of payment methods available including credit/debit cards, PayPal, and bank transfer | Withdrawal fee of $5 per transaction |
Quick and easy deposit process with most methods being processed instantly | Minimum withdrawal amount of $30 |
No deposit fees charged by eToro | Limited number of currencies available for deposits and withdrawals |
Supports deposits and withdrawals in multiple currencies | Withdrawal processing time can take up to 7 business days |
Allows users to set up multiple payment methods for convenience | Third-party fees may be charged by payment processors |
Negative balance protection ensures that users cannot lose more than they have deposited | Users may need to provide additional verification documents for withdrawals |
Customer support is an important aspect of any online brokerage firm, and eToro is no exception. eToro offers various channels for customers to get in touch with its support team. These channels include:
Live chat: This is available 24/5, Monday to Friday. It is the fastest and most efficient way to get support.
Email: Customers can send an email to the eToro support team. The response time is usually within 24 hours.
Phone: Customers can also call the support team during office hours. eToro provides local phone numbers for various countries.
Social media: eToro has a presence on various social media platforms, including Twitter and Facebook. Customers can use these platforms to get in touch with the support team.
FAQ section: eToro offers a comprehensive FAQ section on their website that covers a wide range of topics related to their services, trading, account management, and more. The FAQ section is organized into categories, making it easy for users to find answers to their questions quickly.
When it comes to educational resources, Toro offers a variety of educational content to help traders improve their skills and knowledge of the financial markets.
These resources include:
eToro Academy: This is an online education portal that provides traders with a wide range of educational materials, including articles, videos, webinars, and courses on various topics such as trading strategies, market analysis, risk management, and more.
Trading Guides: eToro also offers a series of trading guides that provide in-depth information on various trading topics, including stocks, commodities, currencies, and indices.
Market News and Analysis: eToro provides traders with up-to-date news and analysis on the financial markets. This includes daily market updates, weekly market analysis, and other educational content.
Blog: eToro has a blog that provides traders with the latest news, market analysis, and trading tips.
Virtual Portfolio: eToro offers a virtual portfolio feature that allows traders to practice trading without risking real money. This is a great way for beginners to gain experience and test out their trading strategies before trading with real money. Here is an instructional video for users to know clearly what Virtual Portfolio is:https://www.youtube.com/watch?v=GWK7uQ98KpM.
Overall, eToro is a reputable and user-friendly online trading platform that offers a wide range of financial instruments and trading options to its clients. Its innovative social trading features, intuitive platform, and excellent customer service make it an attractive choice for both beginner and experienced traders. However, it does have some drawbacks, such as relatively high fees, limited research tools, and a lack of advanced charting capabilities.
FAQs
Q: Is eToro a regulated broker?
A: Yes, eToro is a regulated broker. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) in Europe, the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC) in Australia.
Q: What trading instruments are available on eToro?
A: eToro offers a wide range of trading instruments, including stocks, ETFs, cryptocurrencies, forex, commodities, and indices.
Q: What is the minimum deposit required to open an account on eToro?
A: The minimum deposit required to open an account on eToro varies depending on your location and the type of account you choose. For most countries, the minimum deposit is $500.
Q: Does eToro offer a demo account?
A: Yes, eToro offers a demo account that allows you to practice trading with virtual funds. The demo account is free and can be used for an unlimited period of time.
Q: What is eToro's customer support like?
A: eToro's customer support is available 24/5 and can be reached through email, live chat, and phone. They also have a comprehensive help center and a community forum where you can get answers to common questions and connect with other traders.
FirewoodFX Review Summary | |
Founded | 2014 |
Registered Country/Region | Saint Vincent and the Grenadines |
Regulation | Unregulated |
Market Instruments | Forex, Gold, Crypto, Oil and more |
Demo Account | Available |
Leverage | 1:1000 |
EUR/ USD Spread | From 2.0 pips (Std) |
Trading Platforms | MT4 |
Minimum Deposit | $10 |
Customer Support | Phone, email, online messaging |
FirewoodFX, established in 2014 and headquartered in Saint Vincent and the Grenadines, operates as an unregulated entity in the financial markets. FirewoodFX offers a wide array of market instruments. The platform extends the option for users to familiarize themselves with its services through a demo account.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros | Cons |
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- Demo Account Availability: FirewoodFX provides a demo account option, enabling traders to practice trading strategies and familiarize themselves with the platforms features without risking real funds.
- MT4 Trading Platform: Trading occurs through the widely acclaimed MetaTrader 4 (MT4) platform, known for its stability, versatility, and extensive range of trading tools, providing traders with a seamless trading experience.
- Multiple Account Options: FirewoodFX caters to traders of different experience levels by offering various types of trading accounts, each tailored to meet specific preferences and objectives.
- Convenient Deposit and Withdrawal Methods: The platform offers a variety of deposit and withdrawal methods, including bank transfers, e-wallets, cryptocurrencies, credit cards, and e-payment systems, providing clients with flexibility and convenience in managing their funds.
- Lack of Regulation: One of the most significant drawbacks of FirewoodFX is its unregulated status, which exposes traders to increased risks due to the absence of oversight from governmental or financial authorities.
- Regional Restrictions: FirewoodFX does not accept clients from the United States of America, North Korea, Iraq, Iran, Saint Lucia and Saint Vincent and the Grenadines. These restrictions will stem from regulatory compliance issues or other factors specific to those regions.
FirewoodFX's current lack of valid regulation signifies a concerning absence of oversight from governmental or financial authorities, heightening the inherent risks associated with investing through their platform. Without regulatory supervision, there exists a substantial potential for malfeasance, where the operators of the platform hold no accountability for their actions.
This absence of oversight leaves investors vulnerable to various forms of misconduct, including misappropriation of funds and fraudulent practices. Essentially, the absence of regulation exposes investors to significant risks, as there are no safeguards in place to protect their investments.
Moreover, the lack of regulatory oversight means that FirewoodFX's operators have the autonomy to dissolve the platform abruptly, leaving investors with no recourse or means of recovering their investments.
Therefore, engaging with FirewoodFX carries inherent risks that every investor should be cognizant of before committing any funds to the platform.
FirewoodFX offers forex, gold, crypto, oil and more.
- Forex (Foreign Exchange): This includes major currency pairs like EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs such as EUR/GBP, USD/TRY, and many others.
- Gold (XAU/USD): Trading in gold allows investors to speculate on the price movements of this precious metal against the US dollar.
- Crypto: FirewoodFX likely offers trading in various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others. Investors can trade cryptocurrency pairs against major fiat currencies like USD or EUR.
- Oil (Crude Oil): This typically involves trading contracts for difference (CFDs) on the price of crude oil, allowing traders to speculate on its price movements without owning the physical commodity.
FirewoodFX offers various types of trading accounts tailored to meet the needs of different types of traders.
- Cent Account: This account is suitable for beginners or those who want to trade with smaller amounts of capital. With a minimum deposit of USD 10 (or equivalent in USC), traders can start trading with micro-lot sizes, allowing for precise risk management and lower exposure to the market.
- Micro Account: Similar to the Cent Account, the Micro Account is designed for traders who prefer smaller trade sizes. It also requires a minimum deposit of USD 10 and offers micro-lot trading, but the base currency is USD instead of USC.
- Standard Account: The Standard Account is suitable for intermediate traders who are comfortable with standard lot sizes and require more flexibility in their trading. It requires a minimum deposit of USD 10 and offers standard lot trading.
- Premium Account: The Premium Account is designed for more experienced traders who may require additional features or benefits. It also requires a minimum deposit of USD 10 and offers standard lot trading like the Standard Account.
- ECN Account: The ECN (Electronic Communication Network) Account is tailored for advanced traders who require direct access to liquidity providers and prefer tighter spreads and faster execution. It requires a higher minimum deposit of USD 200 but offers the same standard lot trading as the Premium Account.
Account Type | Minimum Deposit | Base Currency | Contract Size per 1 lot | Value 1 lot per pip/point | Minimum Trade Size | Maximum Open Position |
Cent | USD 10 (or equivalent in USC) | USC (1 USD = 100 USC) | USC 100,000 | USC 10 per pip / USC 1 per point | 0.01 lot (1000) | 200 positions |
Micro | USD 10 | USD | USD 10,000 | USD 1 per pip / USD 0.1 per point | ||
Standard | USD 100,000 | USD 10 per pip / USD 1 per point | ||||
Premium | ||||||
ECN | USD 200 |
Furthermore, FirewoodFX offers demo accounts for traders who want to practice trading strategies and familiarize themselves with the platform's features without risking real funds. Demo accounts replicate real market conditions, providing a risk-free environment for learning and honing trading skills.
To open an account with FirewoodFX, please follow these steps:
Step | |
1 | Provide your full name |
2 | Enter your email address |
3 | Choose a password and confirm it |
4 | Select your country (Indonesia in this case) |
5 | Provide your mobile phone number |
6 | Choose the type of account you want to open: |
- Premium Account | |
- Cent Account | |
- Micro Account | |
- Standard 5-Digit Account | |
- Standard 4-Digit Account | |
- ECN Account | |
7 | Read and agree to FirewoodFXs Customer Agreement |
8 | Complete the registration process |
FirewoodFX offers a maximum leverage of 1:1000, which means traders can control positions up to 1000 times the amount of their initial investment. Leverage allows traders to amplify their potential returns by using borrowed capital, enabling them to enter larger positions with a relatively smaller amount of capital. This can be advantageous for traders looking to maximize their profit potential with limited funds. However, it's important to note that leverage magnifies both profits and losses, making it a double-edged sword.
FirewoodFX offers competitive spreads across its range of account types. The spreads are variable and start from as low as 1 pip for certain account types. Variable spreads mean they fluctuate according to market conditions, providing traders with the opportunity to benefit from tighter spreads during times of high market liquidity. Additionally, FirewoodFX doesn't charge any commissions for standard trading accounts, making it attractive for traders who prefer not to pay additional fees per trade.
However, for the Micro account, FirewoodFX imposes a commission of $7 per lot traded. While this commission might seem nominal, it's essential for traders to factor it into their overall trading costs, especially if they engage in high-volume trading. The commission structure ensures that traders using the Micro account are aware of the costs associated with their trades upfront, allowing for better transparency and informed decision-making.
Account Type | Spreads | Commission |
Cent | Floating from 1 Pip | None |
Micro | Fix from 3 Pips | |
Standard | Fix from 2 Pips | |
Premium | Floating from 0.3 Pip | |
ECN | Floating from 0 Pip | $7/lot |
FirewoodFX provides its clients with the popular MetaTrader 4 (MT4) trading platform, renowned for its user-friendly interface and comprehensive features. With MT4, FirewoodFX users gain access to a powerful trading environment equipped with advanced charting tools, technical indicators, and analytical resources, empowering traders to make informed decisions.
The platform offers a seamless trading experience across various devices, including desktops, laptops, smartphones, and tablets, allowing traders to access their accounts and execute trades anytime, anywhere. MT4's compatibility with different operating systems ensures flexibility for traders who prefer trading on their preferred devices.
FirewoodFX offers a variety of convenient deposit and withdrawal methods to cater to the diverse needs of its clients. Clients can fund their accounts via bank transfer, QRIS, internet banking, virtual accounts (e-wallets), BIDR BEP20, BUSD BEP20, USD Tether TRC20/BEP20, credit card, Perfect Money, and Fasapay.
For deposits, clients can choose from options such as bank transfer, QRIS, internet banking, virtual accounts, and various cryptocurrencies like BIDR BEP20, BUSD BEP20, and USD Tether TRC20/BEP20. For different ways, minimum amount and fees vary. For example, through Internet Banking, $10 of minimum amount is required. More details can be learned by clicking: https://www.firewoodfx.com/trading/deposit.
Withdrawals from FirewoodFX accounts are also straightforward, with options including bank transfer, internet banking, and cryptocurrency withdrawals like BIDR BEP20, BUSD BEP20, and USD Tether TRC20/BEP20. Withdrawals are typically processed within 24 to 48 hours, depending on the chosen method. Similarly, for different ways, minimum amount and fees vary. For example, through Internet Banking, IDR 50,000 of minimum amount is required. More details can be learned by clicking: https://www.firewoodfx.com/trading/deposit.
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +442036083558
Email: support@firewoodfx.com
Address: Suite 305, Griffith Corporate Centre, Beachmont. St. Vincent and the Grenadines
FirewoodFX offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.
In conclusion, FirewoodFX offers a range of products and services, catering to traders seeking diversification in their investment portfolios. However, it operates without regulatory oversight, which poses inherent risks for traders. While the platform provides competitive leverage and a user-friendly MT4 trading platform, the absence of regulation raises concerns about the safety and reliability of the service.
Q 1: | Is FirewoodFX regulated by any financial authority? |
A 1: | No. It has been verified that this broker currently has no valid regulation. |
Q 2: | How can I contact the customer support team at FirewoodFX? |
A 2: | You can contact via telephone: +442036083558, mail: support@firewoodfx.com and online messaging. |
Q 3: | Does FirewoodFX offer demo accounts? |
A 3: | Yes. |
Q 4: | What platform does FirewoodFX offer? |
A 4: | It offers MT4. |
Q 5: | What is the minimum deposit for FirewoodFX? |
A 5: | The minimum initial deposit to open an account is $10. |
Q 6: | At FirewoodFX, are there any regional restrictions for traders? |
A 6: | Yes. FirewoodFX does not accept clients from the United States of America, North Korea, Iraq, Iran, Saint Lucia and Saint Vincent and the Grenadines. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive etoro and firewoodfx are, we first considered common fees for standard accounts. On etoro, the average spread for the EUR/USD currency pair is -- pips, while on firewoodfx the spread is From 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
etoro is regulated by ASIC,CYSEC,FCA,FSC. firewoodfx is regulated by --.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
etoro provides trading platform including -- and trading variety including --. firewoodfx provides trading platform including ECN,Micro,Standard,Premium,Cent and trading variety including --.