CCFX is a forex brokerage website suspected of fraudulent activities. Its domain, ccfxfx.com, was registered on May 17, 2022. The website claims to provide contract-for-difference (CFD) trading services across numerous financial derivative markets, including forex, precious metals, energy, and indices.
Company Background and Regulatory Status
According to public information on ccfxfx.com, the brokerage's entity is CCFX Market PTY LTD, operating under the trading names "CCFX" and "CCFX Market." The company claims to be authorized and regulated by the Australian Securities and Investments Commission (ASIC), with an AFSL license number 480291.
Upon verification, the ASIC website shows that the company with AFSL license number 480291 is GOLDEN GROUP CONSULTING PTY LTD, not CCFX Market PTY LTD.
Further investigation reveals that GOLDEN GROUP CONSULTING PTY LTD belongs to the brokerage firm GDFX (Hong Kong Gaodi Group), whose official website is goldennz.com.
Therefore, CCFX Market (ccfxfx.com) is essentially a fraudulent website that lacks a legitimate company entity and misappropriates regulatory information from other brokers.
Trading Products
CCFX Market claims to offer trading services for various financial derivatives, including forex, precious metals, energy, and indices.
- Forex: The forex market involves trading currencies from different countries. It is the largest financial market globally, with participants including governments, central banks, financial institutions, corporations, and individual investors. Forex trading usually involves currency pairs like USD/EUR, with prices constantly changing due to economic data, policies, geopolitics, and other factors.
- Precious Metals: Precious metals include economically valuable and scarce metals like gold, silver, platinum, and palladium. They are often considered investment and preservation tools, particularly during economic uncertainty. Additionally, precious metals are widely used in industry and jewelry manufacturing.
- Energy: Energy resources like oil, natural gas, coal, and renewable energies (solar, wind, and hydro) drive economic activities. The energy market is influenced by supply and demand, geopolitics, environmental policies, and experiences significant price fluctuations. Energy is a critical component of the global economy, affecting costs and operations across industries.
- Indices: Indices measure the performance of markets or specific asset portfolios. Common market indices include stock indices (e.g., S&P 500, Dow Jones Industrial Average) and bond indices. Indices are calculated using weighted averages of representative assets, helping investors understand overall market performance and trends. Investors often use indices as investment benchmarks to evaluate their returns.
Account Opening Process
To open an account with CCFX Market, users must send a message to register@ccfxfx.com. Customer service will then provide the necessary registration information and review the application. Once approved, the account can be successfully registered and used for trading.
Trading Account Information
CCFX Market does not disclose any detailed information about trading accounts on its website, such as spreads, leverage, or contract sizes.
The platform also fails to specify account types, trading commissions, minimum and maximum trade sizes, maximum open positions, or stop-loss margin levels, making it difficult to assess the fairness and reasonableness of its trading conditions.
Trading Platform and Deposit/Withdrawal
CCFX Market claims to provide an MT4 trading platform; however, no information about this broker is found on the MT4 platform. The broker supports deposits and withdrawals via MasterCard, VISA, SWIFT, BPAY, Skrill, Bitcoin, and NETELLER.
Conclusion
Traderknows advises investors that CCFX Market (ccfxfx.com) is an illegal website without a legitimate company entity or regulatory oversight, misusing other brokers' information. Moreover, its contact method is highly limited, available only via email.
Investors should carefully consider their options and prioritize regulated and transparent companies to ensure the safety of their funds and reduce investment risks.
