Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighClient funds sit with an unregulated St. Vincent company; the only confirmed licence is a weak Labuan money-broking permission held by a sister entity, and the site overstates this as multi-regulated.
Identity & transparency
4/10 · ModerateReal, consistent legal entity disclosed and verifiable on the Labuan register, but no named owners, a UK phone on an offshore firm, and two different St. Vincent addresses across its own documents.
Withdrawals & conduct
5/10 · ModerateA real minority of fund-access complaints (frozen accounts, deleted balances, bonus-blocked withdrawals) against a mostly positive base where many report fast payouts and the firm replies.
Reputation
4/10 · ModerateNet positive overall (Trustpilot 4.7 from 491 reviews), but with offshore caveats, a possibly clustered review pattern, and an Indonesian regulator block.
Website claims
6/10 · HighAdvertises 'Multi-Regulated' and 'protected funds', which overstates one weak offshore licence and a company registration; its age claim, by contrast, is accurate.
Operational history
2/10 · LowGenuine track record since 2014, confirmed by the 2014 domain registration and the St. Vincent company year.
Who they are
A quick desk file on the company behind the brand.
- Brand: FirewoodFX
- Legal entity: Firewood Global Ltd (the company that holds client funds)
- Registered: St. Vincent and the Grenadines, Business Company No. 22160 BC 2014; address Euro House, Richmond Hill Road, Kingstown (the customer agreement gives a second Kingstown address, Suite 305, Griffith Corporate Centre)
- Affiliate: FW Global (Labuan) Ltd, formerly Firewood Global Limited, a licensed Labuan money broker
- Website: firewoodfx.com (also fwfxasia.com and fwfxasia.net)
- Only licence: a Labuan money-broking licence in the affiliate; St. Vincent gives only a company registration; a Comoros MISA registration is also reported but unconfirmed
- Offers: forex, gold, oil, indices and crypto on MetaTrader 4, up to 1:3000 leverage, 88% deposit bonus
- Not accepted: United States, Russia, North Korea, Myanmar, Iraq, Iran, Saint Lucia and St. Vincent and the Grenadines
- Age claim: 'since 2014' and '12 years in the market', which matches the 2014 domain and company records
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
St. Vincent and the Grenadines (company registry)
Found by our investigation (2) — the broker does not list these on its own site
Labuan Financial Services Authority (Malaysia)
Found by us — not listed by the broker
Mwali International Services Authority (Comoros)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate FirewoodFX high risk because the company that takes your money is not regulated, even though the group holds one weak offshore licence.
- The client-facing entity, Firewood Global Ltd, is only a St. Vincent company registration. St. Vincent does not license or supervise forex brokers, so there is no financial regulator behind the account you open and no compensation scheme if the firm fails or refuses to pay.
- The one real licence we confirmed on a regulator's own register is a Labuan money-broking licence held by a different company, FW Global (Labuan) Ltd. Money broking is a low-tier offshore permission, and it is held by a sister entity, not by the company your customer agreement is with.
- The homepage advertises 'Multi-Regulated' and says your funds are protected. That overstates a setup that is really one weak offshore licence plus a company registration, with no retail compensation scheme.
- Indonesia's commodity futures regulator, Bappebti, blocked FirewoodFX websites (including fwfxasia.com and secure.firewoodfx.com) as illegal trading sites, because the firm solicits Indonesian clients without a local licence.
- Independent reviews are mostly positive and many people report fast withdrawals, but a steady minority report frozen accounts, deleted balances and a 'no-deposit bonus' that then required a deposit before anything could be withdrawn. These are the disputes that turn costly at an unregulated broker.
- On the other side, this is a genuine operation that has run under one brand since 2014, uses real MetaTrader 4 servers and pays most clients, which is why we do not call it an outright scam.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The main domain firewoodfx.com was registered on 2014-05-19, consistent with the 'since 2014' and '12 years' claims and a genuine multi-year operation.
StrongVerisign RDAPE2The homepage advertises 'Multi-Regulated' and states FirewoodFX is 'regulated by multiple reputable authorities worldwide, ensuring your funds are protected', while naming no regulator anywhere on the site.
StrongFirewoodFX homepageE3The customer agreement states the company is 'registered and governed by the Law of Saint-Vincent and the Grenadines', names no financial regulator, and gives a Griffith Corporate Centre address; the About page and footer disclose only St. Vincent Business Company No. 22160 BC 2014.
E4The Labuan FSA money-broker register lists 'FW Global (Labuan) Ltd. (formerly known as Firewood Global Limited)' with contact email efx@firewoodfx.com, confirming a genuine current Labuan money-broking licence tied to the FirewoodFX group and that this is the real firm, not a clone.
E5The Labuan licence is held by the affiliate FW Global (Labuan) Ltd, whereas the customer agreement's contracting and deposit-taking entity is the unregulated St. Vincent Firewood Global Ltd; money broking is a low-tier offshore permission that does not cover a retail dealing business.
E6Indonesia's commodity futures regulator, Bappebti, blocked FirewoodFX domains (secure.firewoodfx.com, firewoodfxasia.net, www.fwfxasia.com/id and firewoodfxgain.com) as illegal trading sites in August 2021, reflecting unlicensed solicitation of Indonesian clients.
E7Trustpilot for firewoodfx.com shows 4.7 out of 5 from 491 reviews (about 90% five-star, roughly 2% one-star); negatives include frozen accounts and profits not paid ('my account was frozen, and they took all the money'; 'account got freezed since 2021... More than 1000 USD') and a no-deposit bonus that then required a 100 USD deposit before withdrawal.
ModerateTrustpilotE8The deposit page offers heavy local-market rails (Indonesian QRIS, local bank, IDR and IDRX, Fasapay; Thai QR; Ghana, Kenya, Nigeria and West-Africa local payments) plus USDT on several chains, USDC, credit card and Perfect Money, alongside 1:3000 leverage and an 88% deposit bonus, consistent with a real but aggressive offshore operation.
ModerateFirewoodFX deposit pageE9A second group domain, fwfxasia.com, was registered on 2016-08-09, with fwfxasia.net as an alias and my.firewoodfx.com as the client portal, showing a consistent multi-domain presence over a decade.
WeakVerisign RDAPE10The About page claims '12 Years in the market', '200+ mil Withdrawal processed', '230+ Countries covered' and awards dated 2014 to 2021; the 2014 origin is corroborated by the domain registration and the St. Vincent company year, though the marketing statistics themselves cannot be independently verified.
The other side
The strongest case in this broker’s favour.
Here is the honest case in FirewoodFX's favour.
- It is not a new shell. The main domain was registered in May 2014 and the St. Vincent company number carries a 2014 date, so the '12 years in the market' claim is broadly true.
- The group holds a genuine, current licence: FW Global (Labuan) Ltd appears on the Labuan FSA's own list of licensed money brokers, with a firewoodfx.com contact email, so this is the real firm and not an impersonator of a well-known brand.
- Its public reputation is strongly positive: 491 Trustpilot reviews average 4.7 out of 5, and many clients specifically praise fast deposits and withdrawals, including by crypto and local bank transfer.
- It offers real, varied payment methods and local-market support rather than a crypto-only wallet, which is more typical of a working broker than of a pure boiler room.
- The company replies to a large share of its negative reviews, which a pure exit scam usually does not bother to do.
What would change this
What we would need to see to revise the verdict.
We would change this rating if the facts changed.
- Lower risk: if the client-facing entity, Firewood Global Ltd, obtained and verifiably held a tier-1 or tier-2 licence (for example the FCA, ASIC or CySEC) covering the accounts it opens.
- Lower risk: if the firm stopped advertising itself as 'Multi-Regulated' with 'protected funds' and instead disclosed plainly that client funds sit with an unregulated St. Vincent company.
- Higher risk: if the frozen-account and blocked-withdrawal reports grew into a clear, time-clustered pattern across several platforms, or if a demand for an extra payment to release a client's own deposited funds was credibly documented.
- Higher risk: if a tier-1 regulator published a warning naming firewoodfx.com, or if the Labuan licence were surrendered or revoked.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Labuan FSA licensed money brokers register
Shows FW Global (Labuan) Ltd, the firm's Labuan affiliate, on the official money-broker list.
FirewoodFX official website
The broker's own site, including its regulation and legal pages.
Trustpilot reviews for firewoodfx.com
Independent customer reviews and rating distribution.
Indonesia Bappebti block list (press coverage)
Reproduces Bappebti's list naming FirewoodFX domains among illegal trading sites.
Frequently asked questions
Quick answers about this broker’s safety.
Is FirewoodFX a scam?
We did not find proof that FirewoodFX is an outright scam. It is a genuine broker that has run since 2014 and pays most clients. But it is effectively unregulated, so we rate it high risk and advise strong caution.
Is FirewoodFX a fraud?
We found no regulator fraud charge and no court ruling that FirewoodFX commits fraud. A minority of users report frozen accounts and blocked withdrawals, which we treat as a serious warning sign, but most reviews are positive. We assess the risk as elevated, not proven fraud.
Is FirewoodFX regulated?
Not in any meaningful way for the client. The company that holds your money, Firewood Global Ltd, is only registered in St. Vincent and the Grenadines, which does not license forex brokers. A sister company holds a weak Labuan (Malaysia) money-broking licence, but that does not cover your trading account.
Can I withdraw my money from FirewoodFX?
Many clients report fast withdrawals by crypto and local bank. However, a minority report frozen accounts, deleted balances and bonus conditions that blocked withdrawals. Because the firm is unregulated, there is no regulator to force a payout if it refuses.
Is my money safe with FirewoodFX?
There is no investor compensation scheme and no meaningful regulator behind your account. Your funds sit with an unregulated St. Vincent company. Treat any deposit as money you could lose.
Who owns FirewoodFX?
The brand is owned by Firewood Global Ltd, registered in St. Vincent and the Grenadines (No. 22160 BC 2014), with an affiliated Labuan company, FW Global (Labuan) Ltd. The site does not name the individual owners or directors.
How old is FirewoodFX?
It has operated under this brand since 2014. The main website was registered in May 2014 and the St. Vincent company number carries a 2014 date, so the claim of 12 years in the market is broadly accurate.
What is the Labuan licence worth, and the St. Vincent and MISA registrations?
The Labuan money-broking licence is a low-tier offshore permission, held by an affiliate rather than the entity that holds your funds. The St. Vincent entry is a company registration, not regulation. A Comoros MISA registration is also reported, but MISA is not a credible financial supervisor and we could not confirm it.
Is FirewoodFX a clone of another broker?
No. We confirmed that the Labuan licence and the firewoodfx.com contact belong to the same group, so this is the genuine FirewoodFX rather than an impersonator of a well-known firm.
Is FirewoodFX legal in Indonesia?
No. Indonesia's regulator, Bappebti, has blocked FirewoodFX websites as an illegal trading operation, and Indonesian authorities treat all offshore forex brokers as unlicensed.
What should I check before depositing with any broker like this?
Check whether the entity that opens your account holds a tier-1 or tier-2 licence, read the bonus and withdrawal terms, test a small withdrawal before depositing more, and search for recent withdrawal complaints.
What should I do if FirewoodFX will not let me withdraw?
Stop depositing, request your funds in writing, and save all records. Contact your bank or card issuer about a possible chargeback and report the matter to your local financial regulator. Avoid 'recovery' services that ask for an upfront fee.
What we recommend
The practical takeaway from everything above.
If you are considering or already using FirewoodFX:
- Treat it as an unregulated offshore broker. Only deposit money you can afford to lose entirely, and do not move savings or borrowed money onto the platform.
- Be very careful with the 88% deposit bonus and the no-deposit bonus. Read the bonus and withdrawal terms first, because several disputes trace back to bonus conditions blocking withdrawals.
- Keep your own records: deposit receipts, trade history, chat logs and withdrawal requests, in case you need to dispute a frozen account.
- If you are in Indonesia, note that the authorities treat FirewoodFX as an illegal broker, which limits any local recourse.
- If you are refused a withdrawal, stop depositing, request your funds in writing, and report the matter to your card issuer or bank and to your local financial regulator. Be wary of 'recovery' firms that ask for an upfront fee, as these are often follow-up scams.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 5, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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