A series of comprehensive parametric studies are conducted on a steel-frame structure Finite-Element (FE) model with the Multangular-Pyramid Concave Friction System (MPCFS) installed as isolators. This new introduced MPCFS system has some distinctive features when compared with conventional isolation techniques, such as increased uplift stability, improved self-centering capacity, non-resonance when subjected to near-fault earthquakes, and so on. The FE model of the MPCFS is first established and evaluated by comparison between numerical and theoretical results. The MPCFS FE model is then incorporated in a steel-frame structural model, which is subjected to three chosen earthquakes, to verify its seismic isolation. Further, parametric study with varying controlling parameters, such as isolation foundation, inclination angle, friction coefficient, and earthquake input, is carried out to extract more detailed dynamic response of the MPCFS structure. Finally, limitations of this study are discussed, and conclusions are made. The simulations testify the significant seismic isolation of the MPCFS. This indicates the MPCFS, viewed as the beneficial complementary of the existing well-established and matured isolation techniques, may be a promising tool for seismic isolation of near-fault earthquake prone zones. This verified MPCFS FE model can be incorporated in future FE analysis. The results in this research can also guide future optimal parameter design of the MPCFS.