In the world of forex trading, it’s important to find ways to increase your trading capital for a better chance at success. FirewoodFX, a well-known name in the industry, wants to help traders by offering an appealing 88% deposit bonus. This bonus has caught the attention of many traders, and in this article, we will explore how you can use FirewoodFX’s 88% deposit bonus to improve your forex trading experience.
1. Who is Eligible?
- Traders with all types of accounts can participate in this promotion.
- To claim the bonus, you need to make a minimum deposit of USD 10. Internal transfers are not eligible.
Link bonus : https://www.firewoodfx.com/deposit-bonus-promotion
2. Bonus Options Based on Deposit Amount
- For deposits less than $100, you can choose between a 20% deposit bonus or a 50% deposit bonus.
- If your deposit is $100 or more, you have three bonus options: 20%, 50%, or 88% deposit bonus.
3. How to Claim the Bonus
- Go to your Client Cabinet, navigate to “Account,” and select “Bonus Claim.”
- Choose the bonus you want to claim.
4. Bonus Claim Timing
- You can claim the bonus within 24 hours after making the deposit.
- It’s recommended to claim the bonus as soon as possible after the deposit is processed in your trading account.
5. Multiple Deposits
- You can claim the bonus from several deposits, and each deposit’s bonus is considered separately.
- The maximum bonus amount per trading account is USD 10,000.
6. Using the Bonus
- The bonus will be added to your trading account as credit and can be used as additional margin for opening positions.
7. Withdrawal Conditions
- You can withdraw the bonus after closing a certain amount of trading lots, based on your account type.
- For Standard, Premium, and ECN accounts: (Bonus amount in USD / 2) lots.
- For Micro accounts: (Bonus amount in USD / 0.2) micro lots.
- For Cent accounts: (Bonus amount in USD / 0.02) cent lots (equivalent to Bonus amount in CENT / 2 cent lots).
- Lot calculation is on a first-in-first-out basis and applies to the earliest bonus.
- Only trades opened and closed after the bonus is credited are eligible.
- Trades must be closed with a profit of more than 5 pips (or a loss of less than -5 pips) to be eligible.
8. Time Limit
- You have 60 calendar days from the date the bonus is credited to complete the required trading volume. After 60 days, the bonus will be canceled.
9. Equity and Bonus
- The bonus will be canceled if your account’s equity falls below the bonus amount.
- Note that having a credit in your trading account may prevent margin call notifications.
10. Bonus Cancellation:
- You can cancel the deposit bonus at any time, but once canceled, it cannot be reinstated.
11. FirewoodFX Rights
- FirewoodFX can reject a client’s bonus application without notice and without providing reasons.
- FirewoodFX may cancel a client’s bonus at any time without prior notification.
- Any situation not covered by these rules will be decided by FirewoodFX.
12. Promotion Changes
- FirewoodFX reserves the right to change, update, or cancel this promotion, with notification provided in the Company news.
Q1: Can I participate in the 88% deposit bonus promotion with any type of trading account?
A1: Yes, all account types are eligible for this promotion.
Q2: How do I claim the bonus?
A2: To claim the bonus, go to your Client Cabinet, navigate to “Account,” and select “Bonus Claim.” Then, choose the bonus you want.
Q3: What is the maximum bonus amount I can receive?
A3: The maximum bonus amount per trading account is USD 10,000.
Q4: Can I withdraw the bonus immediately after receiving it?
A4: No, you can withdraw the bonus after closing a certain amount of trading lots based on your account type. Check the article for details.
Q5: Is there a time limit for meeting the trading volume requirement?
A5: Yes, you have 60 calendar days from the date the bonus is credited to meet the requirement.
Q6: What happens if my equity falls below the bonus amount?
A6: If your equity falls below the bonus amount, the bonus will be canceled.
Q7: Can I cancel the deposit bonus once I’ve claimed it?
A7: Yes, you can cancel the deposit bonus at any time, but keep in mind that once canceled, it cannot be reinstated.
Q8: What if I have a situation not covered by these rules?
A8: Any situation not described in these rules will be decided by FirewoodFX.