About FFS Group
Company Overview
FFS Group is a forex and CFD broker that was established on 17 November 2017. The company is registered in Australia and operates under the domain forexfs.cn.
According to its company description, the broker aims to provide a diverse range of trading instruments to meet the needs of different traders. It offers two types of live trading accounts: STP and ECN, designed to cater to various trading styles and preferences.
Regulatory Framework
FFS Group states that it is regulated by two authorities: the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). The ASIC licence is listed as being for Market Making (MM), while the VFSC licence is for a Forex Trading License (EP).
However, the status of these licences is not clearly indicated, and the broker's regulatory standing may require further verification. Prospective clients should exercise caution and conduct independent due diligence regarding the broker's regulatory compliance.
Account Types and Trading Conditions
The broker offers two main account types: STP and ECN. The STP account requires a minimum deposit of $500 and provides access to forex trading with leverage up to 400:1, and gold trading with leverage up to 100:1.
The ECN account, on the other hand, has a higher minimum deposit of $5,000 but offers the same leverage conditions for forex and gold. Both account types are designed to suit different levels of trader experience and capital availability.
Trading Instruments
FFS Group provides access to a range of financial instruments, including forex, gold, silver, oil, and indices. This selection allows traders to diversify their portfolios across multiple asset classes.
The broker's instrument list focuses on major commodities and indices, which may appeal to traders who prefer trading these markets alongside traditional currency pairs.
Minimum Deposits and Leverage
The minimum deposit for the STP account is $500, while the ECN account requires a minimum deposit of $5,000. Leverage is set at a maximum of 400:1 for forex instruments and 100:1 for gold across both account types.
These leverage levels are relatively high, especially for forex trading, which can amplify both profits and losses. Traders should be aware of the risks associated with high leverage and ensure they have adequate risk management strategies in place.
Company Address and Registration
The registered address for FFS Group is 19a Ashlynne Avenue, Papatoetoe, Auckland. The company is registered in Australia, though its registered address is in New Zealand.
This discrepancy may raise questions about the broker's physical presence and operational jurisdiction. Traders are advised to verify the company's registration details and understand the legal jurisdiction under which they would be trading.
FXCanary Risk Assessment
FXCanary has assigned a Scam Risk Score of 49 out of 100 to FFS Group, indicating a 'Guarded' risk level. This moderate score reflects the presence of regulatory claims and the provision of detailed account information, but also highlights the lack of independent user reviews and the ambiguous nature of the broker's licensing status.
Given the guarded risk, potential users should approach this broker with caution and perform thorough due diligence before opening an account or depositing funds.
Overview compiled by FXCanary from regulatory records and public data. full FFS Group review