Author: Chloe Christina, Multimedia Marketing Manager, FirewoodFX
24 Jan 2019
In spite of the instability being caused by geopolitical events, forex continues to be a desirable market for many investors. It is particularly popular among international banks, with financial centres around the world functioning as buyers and sellers of foreign currencies.
The forex market has a huge impact on determining the relative values of different currencies, and opens many opportunities to traders, one of the biggest being leverage. By using leverage, a trader can use minimum capital to gain maximum return.
Forex carries a high level of risk, and for this reason it can feel inaccessible to many potential traders
Simplifying the complex
Like all leveraged products, forex carries a high level of risk, and for this reason it can feel inaccessible to many potential traders. One organisation, FirewoodFX, has done much to change that through its innovative yet simple platform, which offers a wealth of opportunities to traders, as well as tips on how to succeed in the market. Its feature Forex Copy, for instance, demonstrates to beginners how more experienced traders have used the platform. Beginner traders can learn and profit by copying these practices.
By far what makes the platform most accessible is that traders do not need a large amount of capital to begin. For FirewoodFX’s Micro Account, all that is required is a minimum deposit of $10 (€8.80) and a minimum trade size of 0.01 lot (100). Traders can also take part in the forex company’s monthly trading competition that requires a minimum deposit of only $20 (€17.60), giving them the opportunity to win $500 (€440), as well as their trading profit itself.
Bedrock of experience
FirewoodFX was founded and developed by a group of traders, who have used their combined expertise to shape it into the pivotal tool it is today. They hope that by providing a smooth and sophisticated platform, they can enhance client profitability and trading volume – making the platform a win-win for both company and client. To help traders get a taste of the platform, FirewoodFX even offers a free demo account.
FirewoodFX has a range of functions, depending on the needs of traders. Forex Copy works effectively for both private fund managers and investors, meaning they can set up a mutual agreement with specific terms and conditions, before beginning their work together. FirewoodFX’s PAMM service is the best solution for professional fund managers and investors, for which profit sharing and fees are processed automatically.
Among its beneficial features, FirewoodFX boasts no commission and expert advice, while it also allows scalping and hedging. What’s more, a 20 percent deposit bonus is available to cover negative balance, and up to 1:1000 leverage is also on offer.
FirewoodFX has invested in numerous cutting-edge technologies to guarantee clients’ trading satisfaction, such as MetaTrader 4, which is compatible with PC, Android and iOS. FirewoodFX’s server is hosted in Equinix NY4, the best data centre in New York, through which the platform is able to provide the fastest execution time at just a millisecond.
Crossconnect is also available through a major forex virtual private server provider. Put simply, FirewoodFX’s technology means anyone can trade everywhere and anytime through its platforms. In the future, FirewoodFX is hoping to provide an MT5 trading platform, as well as cryptocurrency trading instruments.