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Tier1FX vs FirewoodFX
Both forex brokers have built a positive reputation, and feedback from our members supports that.
That said, Tier1FX currently holds a stronger overall rating (3.7) than FirewoodFX (3.3).
Tier1FX has a higher minimum deposit than FirewoodFX, at 500.0.
Both platforms offer their clients demo accounts, mobile trading, scalping, MAM/PAMM.
Traders should note that
both companies offer the same minimum (0.01) and maximum lot size (50.0).
Tier1FX offers a lower maximum leverage of 1:30, whereas FirewoodFX allows trading with up to 1:1000.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
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Overall Rating:
Platform:
Pricing:
Customer service:
Features:
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| Minimum deposit ($) | 500.0 | 10.0 |
| Commission | 5.0 | 0.0 |
| Accepting US clients? | ||
| Swap free accounts | ||
| Segregated accounts | ||
| Interest on margin | ||
| Managed accounts | ||
| Accounts for money managers (MAM, PAMM) | ||
| One click trading | ||
| API | ||
| OCO orders | ||
| Trading over the phone | ||
| Hedging allowed | ||
| Trailing stops | ||
| Mobile trading | ||
| Scalping allowed | ||
| Bonuses | ||
| Demo Accounts | ||
| Web based trading | ||
| Contests | ||
| Decimals | 5 | 4 |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | 50.0 | 50.0 |
| Spread | - | Fixed |
| Broker type | STP, ECN, DMA | STP |
| Maximal leverage (1:?) | 30 | 1000 |
| Availability | STP, ECN, DMA | STP |
| Regulation | MFSA (Malta) | No Regulation |
| Trading Platforms | MetaTrader 4 (MT4), JForex, Fortex 6 | MetaTrader 4 (MT4) |
| Funding/Withdrawal methods | Wire Transfer, Neteller | Wire Transfer, Credit Card, Debit Card, Moneybookers, Perfect Money, Neteller, UnionPay, Skrill, FasaPay, Local Deposits |
| Account Currency | USD, GBP, EUR | USD |
| Languages | English, Spanish, Italian, Chinese, Croatian | English, Chinese, Indonesian, Thai |
| Country | Malta | Saint Vincent and the Grenadines |
| Trading platform(s) timezone | Malta | Saint Vincent and the Grenadines |
| Other trading instruments | Commodities, Energies, CFDs | Commodities |
| spreads | ||
| EUR/USD | - | - |
| GBP/USD | - | - |
| USD/JPY | - | - |
| USD/CAD | - | - |
| XAU/USD | - | - |
