Fireplace review: institutional tooling, exchange-style custody

The Bloomberg-terminal pitch

Fireplace launched publicly in January 2026 and raised a $1.5 million pre-seed a month later specifically to build institutional trading infrastructure for prediction markets — a named CEO, a named Hong Kong operating company (Enclave HK Limited), and named investors, which already separates it from most of this field. The product matches the pitch: TradingView-powered charting, whale and insider tracking with a “Qualified Holders” conviction metric, and order routing across both Polymarket and Kalshi from one book view.

Two capabilities stand out as genuinely unmatched in our comparison. First, the exit engineering: take-profit and stop-loss brackets attachable to entries with up to six exits per order (created progressively as partial fills land), standalone stop market and stop limit orders against existing positions, anti-oversell logic, and re-pegging orders that track the best bid/offer. Nothing else we verified — bot or terminal — documents order mechanics at this level. Second, the MCP server: Fireplace exposes its trading surface to AI agents like Claude and ChatGPT, making it the only tool here you can drive programmatically through an agent workflow without writing exchange plumbing yourself.

Read the custody terms before the feature list

Fireplace’s Terms of Use say the quiet part in writing: the wallet is custodial, private keys are managed and stored by Enclave or its key-management provider, users do not have direct access to the keys, and the operator’s aggregate liability is capped at $1,000, under Hong Kong law and arbitration.

Credit where due — this is disclosed openly rather than wrapped in “non-custodial” marketing, which is more than can be said for some Telegram bots this site covers. But the substance matters more than the candor: in a niche that spent early 2026 relearning why key control matters, Fireplace asks you to accept exchange-style custody from a six-month-old startup whose paper obligations to you top out at a thousand dollars. For professionals used to leaving balances on centralized exchanges, that’s a familiar trade. For self-custody-minded traders, it’s the end of the conversation — the custody guide covers why.

The cost of aggression

Pricing rewards patience: resting maker orders pay no Fireplace fee at all, while taker orders pay 1% on top of Polymarket’s own category taker fees — making aggressive trading through Fireplace the most expensive path among the terminals we compared. Order minimums are 5 shares and $1 notional. A limit-order-first trader can keep costs near zero; a news-reaction trader pays stacked fees for the privilege of speed.

Where it fits

Fireplace is the strongest pure-execution product in our terminal ranking and the obvious choice for professional multi-venue traders who already accept custodial platforms and want Kalshi and Polymarket in one book — or who want AI agents driving orders through the MCP surface. Traders whose first filter is key control should compare the self-custodial half of the field instead; the PolyBot head-to-head sets the two philosophies side by side.