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The WikiFX Score of this broker is reduced because of too many complaints!

FFS Group

Australia|5-10 years|
Regulated in New Zealand|Suspicious Regulatory License|MT4/5 full license|The server is only located in China.|New Zealand Financial Service Corporate Revoked|Suspicious Overrun|High potential risk|

http://www.forexfs.cn

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
FFSMarkets-Demo MT4
Server Location China

Contact

61283550198
enquiry@forexfs.cn
http://www.forexfs.cn
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

61283550198

Broker Information

More

Company Name

FFS Markets Limited

Company Abbreviation

FFS Group

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 8
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 32 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Unable to withdraw

Money has long been unable to withdraw on this platform

I deposited on the platform on March 2018 and money could be withdrawn in the first weeks, But it is impossible to withdraw money by the time of August 2018 until now. There is no access to make complaints now. I have been contacted with the customer service personnel, but they asked me to wait for new withdrawing channel.

2019-06-06 18:26
Unable to withdraw

Can’t withdraw on FFS for more than 10 months

Today, on May 30th, we still have not waited for the solution promised by FFS’s CEO Lu. We have more than 9,000 people here, that is, more than 9,000 families, and many of them invest by borrowing! How many people have lost their lives because of this investment, and I am one of them! I beg CEO Lu and all the company leaders, let everyone live, give these 9,000 people faithfully following you a way to live! I am just a housewife, a housewife who is family-oriented and is a 24-hour babysitter! My husband worked hard on the construction site every day and earned a small salary. He went to work in the evening to do Didi to subsidize the expenses of the family! I have two sons to raise, and my husband earns money to raise a whole family. Parents can't help us, but we don't have to worry about them. My husband has a salary of 180 yuan a day on the construction site, but it is not enough to cover daily expenses. As a post-1985 man, he raises this home and does his best to make this home a better place! I am grateful to him, and I feel bad about him, so I want to help him and want to earn some money to help this home! The $20,000 I invested in FFS may be a small number for some people. For us, it will take at least 5 years to earn. I save every penny and buy cheap things online. I tell myself every day that CEO Lu is always a dedicated entrepreneur, a successful person with responsibility, he will not let us down! I would like to ask CEO Lu, to let more than 9,000 people, more than 9,000 families to cross this time, and then everyone will always follow you! My FFS account is FFS3088426.

2019-05-30 23:55

    FFS Group · Company Summary

    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.

    FFS Group

    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.

    regulated FSPR license

    The claimed Vanuatu VFSC regulation (license number: 14838) and Australia ASIC regulation (license number: 323193) are suspected to be cloned, further raising red flags.

    suspicious clone VFSC license
    suspicious clone ASIC license

    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.

    MT4

    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.

    User Exposure on WikiFX

    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.

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    猜猜25393
    more than one year
    Avoid this broker, my only advice. Customer service shocking no communication and just full of excuses, their system is set out to make you lose money for them to gain from it. Besides, mt4 trading platform also has lots of technical issues.
    2023-03-13 11:57
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