FirewoodFX Offshore Regulation: Real or Fake? An Honest Review

FirewoodFX claims to be a reputable broker, but some websites say that its actually an offshore broker. So, is it real or fake? We need to understand this. In this latest FirewoodFX review, we will answer the question: Is FirewoodFX regulated or not? We will also go through the real user complaints.

Is FirewoodFX Scam or Safe?

FirewoodFX has three licenses from three different authorities: MISA, SVG, and the Labuan Authority.

1. St. Vincent and the Grenadines (SVG) License

According to the website , The domain www.firewoodfx.com is operated by Firewood Global Ltd, an international broker incorporated in St. Vincent and the Grenadines as Business Company No. 22160 BC 2014, with registered office at Suite 305, Griffith Corporate Centre, Beachmont, St. Vincent and the Grenadines.

2. Mwali International Services Authority (MISA ) License

Firewood Global Ltd is authorized under Brokerage License T2023361 issued by the Mwali International Services Authority (MISA), the official offshore financial services regulator for the autonomous island of Mwali, Union of the Comoros.

3. Labuan Malaysia License

FW Global (Labuan) Ltd is registered with and regulated by Labuan Financial Services Authority (Labuan FSA) Malaysia, operating under License No. MB/25/0134 as a Money Broker company.

However, the broker is registered with three different authorities, but they are not top-tier regulators that provide credibility and fund safety. These authorities offer very limited oversight to the brokers registered under them. Therefore, people who invest with such brokers put their money at risk.

FirewoodFX –User Complaints

1. Fake No-Deposit Bonus

A user claimed FirewoodFX promotes a fake no-deposit bonus. The website says no deposit is needed, but when its time to withdraw profits, the broker reportedly asks for a $100 activation fee. Users call this a fraudulent scheme.

2. KYC Rejected for Over a Month

Another trader said he received the $20 welcome bonus and made $1000 profit, but his KYC was repeatedly rejected. He has been waiting over a month with no approval.

3. Withdrawal Not Allowed

One user said the broker never approves withdrawals. He also could not delete his account and continued receiving unwanted promotional emails. He called FirewoodFX a scam broker.

4. Worst Support Service

Another trader stated that FirewoodFX has the worst customer support and is not trustworthy, advising others to choose a different broker.

5. Waste of Time

A user said the broker is a complete scam: only 0.01 lot trading is allowed, withdrawals are blocked, and when he reached $100 profit, the broker took the money and closed his account.

Steps to Login on FirewoodFX Mobile App

1. Start by downloading the FirewoodFX APK onto your device.

2. Open your devices file explorer and locate the downloaded file.

3. If your device blocks the installation, go to Settings → Security and enable the option that allows apps from unknown sources.

4. Tap the APK file and select Install to begin.

5. Allow the setup process to finish.

6. After installation, open the app and log in with your account details.

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