FFS Group Forex Broker

Note: Regrettably, the official website for FFS Group (http://www.forexfs.cn) is currently not operational. As a result, obtaining specific details about the broker from their website is challenging. To provide an overview of FFS Group and its activities, alternative online sources were used. It is crucial to acknowledge that the unavailability of the official website hinders accessing accurate and current information about the broker. FFS Group Review Summary Founded 5-10 years Registered Country/Region Australia Regulation FEPR (revoked), ASIC/VFSC (Suspicious Clone) Market Instruments Forex, gold, silver, oil, indices Demo Account Unavailable Leverage 1:400 (forex) Spreads 1.6 pips (STP) Trading Platforms MT4 Minimum Deposit $500 Customer Support Phone, email, QQ What is FFS Group？ The FFS Group offfers a diverse range of trading instruments to its clients. Traders have the option to choose between two types of live trading accounts, namely STP and ECN accounts, each catering to different trading preferences. However, it is important to note that there have been reports on the FFS Group website suggesting difficulties in withdrawing funds, potential involvement in scams, and instances of severe slippage. In the following article, we will thoroughly assess and analyze the broker's various aspects, offering you well-organized and comprehensive information. If you have any queries, we invite you to keep reading. By the end of the article, we will provide a concise summary, enabling you to easily understand the broker's characteristics. Pros & Cons Pros Cons MT4 supported Website is unavailable A range of trading instruments FEPR (revoked), ASIC/VFSC (Suspicious Clone) Some reports of scam and withdrawal issues Pros: - MT4 Supported: FFS Group provides support for the widely acclaimed MT4 trading platform, known for its advanced features and ease of use. Traders can benefit from the platform's robust charting tools, customizable indicators, and expert advisors. - Range of Trading Instruments: FFS Group offers a diverse range of trading instruments, allowing traders to access various financial markets and explore different trading opportunities. This can enable them to create a well-diversified portfolio and potentially maximize their investment choices. Cons: - Lack of Valid Regulation: FFS Group was previously regulated by FEPR, indicating a commitment to compliance with industry standards. However, it's important to note that this license has been revoked. Additionally, FFS Group was previously associated with ASIC and VFSC, although there have been concerns about the legitimacy of the VFSC registration due to a potential suspicious clone. - Website Unavailability: The FFS Group's website is inaccessible currently, which could pose difficulties in obtaining important information about their services, terms, and conditions. This lack of transparency raises concerns about the reliability and trustworthiness of the company. - Reports of Scam and Withdrawal Issues: There have been reports suggesting potential scam activities and withdrawal issues related to FFS Group. These reports indicate that some traders may have faced problems when attempting to withdraw their funds, which raises red flags about the platform's integrity and customer support. Is FFS Group Safe or Scam？ The regulatory status of FFS Group is concerning, as their New Zealand FSPR license (number: 530907) has been revoked. The claimed Vanuatu VFSC regulation (license number: 14838) and Australia ASIC regulation (license number: 323193) are suspected to be cloned, further raising red flags. It is crucial to be cautious and aware of the risks associated with this broker. FFS Group operates without proper regulation, indicating a lack of oversight from governmental or financial authorities. The unavailability of their official website adds to concerns about the reliability of their trading platform. Market Instruments FFS Group offers a multiple range of trading instruments: - Forex: FFS Group allows traders to trade in the foreign exchange market, offering a wide range of currency pairs. Forex trading involves buying one currency while simultaneously selling another, aiming to profit from the fluctuations in exchange rates. - Gold and Silver: FFS Group enables trading in precious metals like gold and silver. These instruments are often considered as safe-haven assets and can provide opportunities for investors to diversify their portfolios or hedge against inflation and market volatility. - Oil: FFS Group allows traders to speculate on the price movements of crude oil. Trading in oil instruments involves taking positions based on factors such as global supply and demand dynamics, geopolitical events, and economic indicators that impact oil prices. - Indices: FFS Group offers trading in various stock market indices, representing the performance of a basket of stocks from a specific region or sector. Traders can take positions based on their views on the overall market performance or the performance of specific sectors or industries. Account Types FFS Group offers two types of live trading accounts: STP and ECN accounts. STP Account: The STP (Straight Through Processing) account is suitable for traders who prefer a straightforward trading environment. In an STP account, trades are executed directly with liquidity providers without any interference from a dealing desk. This type of account offers competitive spreads and fast order execution. The minimum deposit requirement for an STP account with FFS Group is $500. ECN Account: The ECN (Electronic Communication Network) account is designed for traders seeking direct market access and enhanced transparency. This allows for tighter spreads, variable pricing, and faster order execution. The ECN account typically requires a higher minimum deposit due to the advanced features it offers. With FFS Group, the minimum deposit requirement for an ECN account is $5000. Leverage FFS Group provides leverage options for forex and gold trading. The maximum leverage offered for forex trading is 1:400, which means that traders can trade positions that are up to 400 times larger than the amount of their initial investment. This high leverage allows traders to potentially amplify their profits when successful trades are made. For gold trading, FFS Group offers a maximum leverage of 1:100. This means that traders can trade positions that are up to 100 times larger than their initial investment. The leverage is slightly lower for gold trading compared to forex trading, reflecting the different characteristics and volatility of the gold market. Spreads & Commissions FFS Group provides different types of trading accounts with varying spreads and commissions. For their STP (Straight Through Processing) account, the spreads start from 1.6 pips. Spreads refer to the difference between the bid and ask price of a financial instrument. On the other hand, FFS Group's ECN (Electronic Communication Network) account offers spreads starting from 0.2 pips. ECN accounts typically provide traders with direct access to interbank liquidity, resulting in tighter spreads. The extremely low spread offered by FFS Group for their ECN account can be appealing to traders looking for competitive pricing and faster trade execution. However, due to the inaccessible website, it is no ways to learn about the commission charged by FFS Group. Therefore, traders can directly contact the company and ask for the specific commission. Trading Platforms FFS Group provides the popular and respected MT4 platform, which is widely recognized in the industry. MT4 offers a range of tools and features that empower traders to effectively analyze market trends, execute trades, and manage their positions. Its intuitive interface and customizable layout make it a user-friendly platform that caters to traders of all levels of expertise. With its seamless trading experience, MT4 is well-regarded and trusted by both novice and experienced traders alike. User Exposure on WikiFX Our website displays accounts of difficulties in withdrawing funds, fraudulent activities, and significant slippage. Traders are advised to thoroughly examine the provided information and assess the risks involved in trading on an unregulated platform. Before engaging in any trading activities, it is recommended to consult our platform for relevant information. If you have come across any of these fraudulent brokers or have personally experienced their misconduct, kindly inform us through the Exposure section. We value your input, and our team of experts will strive to address the issue and assist you to the best of our abilities. Customer Service Customers can visit their office or get in touch with customer service line using the information provided below: Telephone: 61283550198 QQ: 2682584734 Email: enquiry@forexfs.cn Conclusion In conclusion, FFS Group lacks proper regulation as its official regulatory status in New Zealand has been revoked. The claimed regulations from Vanuatu and Australia are also suspect to be cloned. The absence of governmental or financial authority supervision and the inaccessibility of their website raise concerns about the reliability of their trading platform. It is important to note that investing with FFS Group carries a higher level of risk, as there are reports of withdrawal issues, scams, and severe slippage. Therefore, caution should be exercised when considering FFS Group as a broker choice. Frequently Asked Questions (FAQs) Q 1: Is FFS Group regulated？ A 1: No. FFS Group is not regulated. Q 2: Does FFS Group offer demo accounts？ A 2: No. Q 3: What ways are offered to contact FFS Group？ A 3: It supports phone, 61283550198, QQ: 2682584734 and email: enquiry@forexfs.cn. Q 4: What platform does FFS Group offer？ A 4: It supports MT4. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.