PFD Video Review
Investor Protection & Regulations
“PFD is a FMA regulated firm which enacts standard security practices and also separates trader funds from broker funds.”
PFD is a company registered in New Zealand with the registration number 973842. It is regulated by the Financial Markets Authority (FMA) as a financial service provider. The license number is FSP 28944.
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PFD maintains that all user data is stored in its secure servers with restricted access. The broker maintains standard security systems and controls which are subjected to external auditing once every year.
In compliance with the regulatory directives, PFD segregates investors’ funds from its own funds. The brand does not use traders’ funds to run its daily operations. This is done to protect investors’ funds from scenarios such as broker bankruptcy.
To protect its website visitors, traders and partners, PFD has installed a Secured Socket Layer (SSL) certificate which was issued by GoDaddy Secure Certificate Authority. The SSL encrypts all data that flows to and from the broker website and platforms. The reason for doing this is to deter identity thieves and hackers from stealing important trader info as it is transmitted via online activity on its site.
“PFD presents fewer asset classes than most EU/UK and Australian brokers. Traders on PFD can trade 49 currencies pairs, 10 indices and 5 commodities, and these are available for trading on the MT4 platforms.”
Here is a list of the trading instruments on the PFD platforms:
Number of Instruments
“Three account types are provided by PFD. They are: PFDTrader, PFDPro and the PFDProPlus accounts. A minimum of $1,000 is required to open the PFDProPlus account while the other account types have no limits.”
The following are the types of accounts you will find on PFD:
PFDTrader account: There are no minimum or maximum deposits or withdrawals. No commissions are charged because the broker fees are embedded into the spread. A maximum leverage of 1:300 is available for account balances of $5,000 and below. For accounts balances greater than $5,000, the maximum leverage is reduce to 1:100.
PFDPro account: This account has tighter spreads than the PFDTrader account. There are no deposit amount restrictions. A maximum leverage of 1:100 can be used to place trades from this account. Commissions of $1 per side are charged for each standard lot traded.
PFDProPlus account: Very tight spreads are a feature of this account. $1 is charged per side for every standard lot traded. The minimum opening balance is $1,000.
Islamic accounts: This is a type of account that does not incur swap charges when open positions are held overnight. But, if the overnight position is held for over 3 days, PFD will charge administrative fees.
Demo account: The demo account is a risk free account provided for practice purposes. By default, the account is funded with $10,000 in virtual currency. A user can increase the virtual capital if necessary. The demo account expires after 15 days.
To open a real account, click the “Sign Up” button on the top right hand corner of the website. Choose to open a demo account, a real account via online signup or a paper mode account.
The form above is for opening a real account online. Fill the form and click ‘Register’. A success message is displayed and email verification is required next. After that, a series of forms requesting the customer’s personal details, trading experience, source of funds, etc are displayed. To complete the registration, identity verification documents will have to be uploaded.
If you prefer to use paper mode account, download the paper forms, fill and send to the provided physical address which is in Auckland, New Zealand.
When registration is done, the next step is to download and install the trading platform. The links to download the MT4 trading platforms for specific operating systems are found on the website.
Choose the appropriate server which could be a demo or real account. Click next.
To open a new demo account, choose the account type, leverage, deposit amount and fill in the personal details. Agree to subscribe to newsletters and click next.
The account is created and you are automatically logged on to the PFD MT4 trading platform.
Deposit & Withdrawals Options
“Credit/debit card, Bank Transfers, and online payments are accepted by PFD broker. The e-payment channels are POLi, Skrill, Rapid transfer, and China UnionPay.”
PFD encourages prospective clients to ensure that the name on their payment source account matches the name on the PFD trading account. Third party transfers are normally rejected but customers thinking of such transfers are encouraged to contact the support desk first.
Here are the acceptable payment methods:
Skrill: Deposits are processed instantly. Withdrawal fee is 1%. It is available in 5 currencies; USD, EUR, CNY, GBP and AUD.
Debit/Credit Cards: This is available for Skrill account holders only. The minimum transaction is $5. Deposit fee is 2.9% + €0.29. Withdrawal fee is 1% of transaction amount.
Rapid Transfer: This option is used to transfer money directly from the trader’s bank account. Over 150 banks in Europe are supported. Deposit fee is 1.5% with a minimum of €1.5
China UnionPay: Available only in CNY. The minimum transaction is 100CNY and the maximum is 50,000CNY. 2.5% is charged for both deposits and withdrawals.
POLi: This method is only available for NZD. It is used for deposits only and it is instant. The deposit fee is 1% capped at $3.
Bank Transfer: This is available in USD, NZD, GBP, AUD, EUR and JPY. There are no limits to bank charges. The transactions take may take up to 5 business days for processing.
There have been no reports of funds transferred to PFD which got “lost in transit”, and no reports of unpaid withdrawal requests. Apart from bank transfers, the other payment options are usually processed instantly.
Web & Desktop Trading Platforms
“MT4 is the only trading platform available to PFD clients. It is user-friendly, yet sophisticated enough to satisfy the needs of most traders. The platform is furnished with indispensable tools needed by the trader.”
The MetaTrader4 (MT4) is designed by Metaquotes Software Inc, a Russian software firm renowned for developing forex trading platforms. The MT4 is the most popular trading platform among forex traders. This is because of its exhaustive tools and features. The PFD MT4 is available as downloadable desktop versions for windows and MAC OS computers. It is also available for mobile devices and as a ‘Multitrader’.
Here are some of the features of PFD MT4:
The MT4 screen intuitive. It comprises of customizable layouts, windows, charts and menus.
It has advanced charting and analytical tools for technical analysis. The MT4 has 30 technical indicators and 24 analytical tools. The charts can be displayed over 9 timeframes ranging from 1 minute to 1 month.
The ‘market watch’ and chart windows display the market quotes in real time. A new order can be created directly from the market watch and charts.
Through the use of Expert Advisors (EAs), forex trading can be automated on the MT4 platform.
The MetaTrader market is accessible from the platform. Traders can purchase useful tools like indicators, EAs and other tools from other traders, developers and dealers.
MT4 provides access to the MQL5 development environment where robots, indicators and other essential apps or MT4 plugins can be created.
Mobile Trading Platforms
“The MT4 mobile apps are available for the Android and iOS devices. They integrate seamlessly with the desktop versions.”
The MT4 app is designed for the iPhone and android mobile devices. To use the MT4 mobile, download and install the app from the iOS or android store. Start typing ‘PFD’ in the ‘choose trading server’ search screen. The broker servers display while typing. Choose either the PFD-demo or PFD-real server according to your account type. Login with your ‘user ID’ and ‘password’ to commence trading.
Here are a few of the features of the PFD MT4 mobile app:
It is simple, easy to use and a trader needs no training to use the app.
Full integration with the desktop app. A position can be opened on the desktop platform and then monitored on the go with the mobile app.
Technical analysis charts, drawing tools, timeframes are all available on the MT4 app.
Trades can easily be placed, monitored and closed. This includes order management and risk management features.
The app is fast and rugged. It executes trades at great speeds.
“PFD has the ‘MAM forex account’ specially designed for experts who trade on behalf of other clients. The PFD MT4 Multi Terminal is designed for that purpose.”
Multi Account Manager (MAM) Forex
Managing multiple accounts requires a method of executing orders simultaneously on these accounts. PFD provides the MT4 Multi Terminal app which is developed for money managers who manage clients’ account by trading on their behalf. Hundreds of investor accounts can be managed and traded simultaneously from one master account. Money managers and their clients must fill the “MAM Power of Attorney and Compensation Acknowledgement” forms provided by PFD. This is done in order to legally instruct PFD to authorize the payment of the performance fee to the manager from the profits generated for the clients.
Here are some of the benefits of the MAM account:
Easy to manage unlimited investor accounts from one single manager account.
The manager can trade multiple accounts with a single click.
Periodical reports can be generated from the system.
The manager can distribute trades based on margin, equity or balance.
All trading strategies, styles, even EAs are supported without system restrictions.
Commissions & Spreads
“PFD spreads are relatively low and measure up to what is obtainable with EU MT4 brokers. Commissions are also charged on trades depending on the account type.”
Below are the tradable asset symbols and the average spread values for the PFDTrader account:
*The list of spreads is taken directly from the broker website and is subject to change at any time.
Bonus & Promotions
“PFD broker have no bonuses or promotions. This is in accordance with the regulatory requirements of New Zealand.”
PFD does not provide any deposit bonus, welcome bonus or any other bonuses. Furthermore, no trading contests or promotions are organized by PFD. This is in keeping with the regulatory requirements in New Zealand.
“The Client support team works 24/5 and can be reached via instant chat, Skype, telephone, email and on the social media. Russian, Chinese and English are the 3 major languages spoken by the support team.”
The PFD customer support is available from 10am Monday 10am to Saturday 10am. The team is very knowledgeable and eager to assist. They speak English, Chinese and Russian.
The following support channels are available:
Contact form: This is available on the ‘Contact Us’ page of the PFD website. Just drop your message, name and email and a support staff will contact you by email.
Skype: This is an instant message app available on the computer and mobile devices. It is used for chats, voice and video calls. The support team’s Skype id is “pacific.f.d”.
Instant Web Chat: This is available on every page of the website.
firstname.lastname@example.org, email@example.com, firstname.lastname@example.org Phone Number: Client services +64 9 6320129, technical support +64 9 6320100. National toll free line is 0800 000973. Australia: 1 800 648597.
Social Media: The following social media channels are available:
Facebook.com/Pfd New Zealand
The social media channels are regularly updated. The Facebook page is frequently updated with news from different sources such as www.bbc.co.uk. Emails are promptly replied within a few hours. When we initiated a chat, the support assistant joined within 40 seconds. The support team is courteous and helpful.
“The Economic calendar is provided to assist the trader in fundamental analysis.”
The only research tool on PFD is the Economic Calendar. This is a schedule of important economic events that happen around the world, and which impact currencies and markets in the affected countries. These events are likely to affect the prices of tradable assets. The Economic Calendar shows the affected assets, its impact estimate, history and other info. The Economic Calendar is available on the website.
“A Forex introduction article and a Forex glossary are provided. These are the only tools for trader education on PFD.”
Forex glossary: Only 15 forex terms are explained in this glossary. This is simply too scanty when compared to those of other brokers that provide over 200 trading terminologies and their definitions.
Forex introduction: This section of the website contains a single article that explains what forex trading is all about. It explains the reasons for trading and how to trade. It discusses currency pairs, orders, leverage and how to read charts.
“PFD services are designed for all traders but it is especially good for expert traders who have their own strategies and trading styles using the MT4 platform.”
The brokerage service provided by PFD is designed for all traders. Investors with small capital are welcome since there is no minimum opening balance for the PFD trader and PFD Pro accounts. The MT4 trading platform supports all trading strategies, styles and systems. An expert trader who creates his own strategies will certainly be satisfied with the services of this broker.
However, a newbie who needs comprehensive education and guidance will not gain much from this broker. The training is limited and there are no daily technical analyses, news, webinars or social trading. Moreover, the demo account expires after 15 days.
It can be inferred that PFD brokerage services is best for intermediate and pro traders who can perform their analysis and create their own strategies. It is also apt for traders with limited capital.
Here are some of the “Frequently Asked Questions” about PFD Ltd:
Where is PFD Ltd based?
PFD Ltd broker is based in Auckland, New Zealand.
How does PFD Ltd make money?
PFD Ltd trading charges are built into the spread for the PFDTrader account. The broker also charges commissions for trading from other accounts. The broker is NDD so spreads and charges are transparent.
How do I deposit in PFD Ltd account?
The payment options accepted are: Bank Transfers, Credit/Debit Cards and electronic payments options like Skrill, Rapid transfer, China UnionPay and POLi.
What is the min. deposit for PFD Ltd?
There are no minimum deposits for the PFDTrader and PFDPro accounts.
What is the maximum leverage in PFD Ltd?
The maximum leverage is 1:300.
How do I open an account with PFD Ltd?
Click on the orange button labeled ‘Sign Up’. Select the account type and fill the resulting forms.
Does PFD Ltd use MetaTrader?
Yes, the MT4 is available.
PFD is a regulated broker based in New Zealand. The firm has been in operation for several years. Therefore, it has gained experience and growth. The broker operates the NDD brokerage model as it passes trade executions to quality liquidity sources. This ensures that trade execution are swift though sometimes slippages and requotes occur.
Currency pairs, indices and commodities are traded on the MT4 platform which also supports mobile trading. There are no limits on investment capital, so all traders are accepted.
There are no promotions, bonuses, contests or additional trader tools like VPS, MT4 plugins, daily technical analysis or market news. The glossary and training article provided are grossly insufficient to train a beginner trader to any reasonable level. In order to effectively compete with other leading brokers, PFD need to expand its services to cover these areas.
Here are some of the features of trading with PFD broker:
Authorized and regulated broker.
Premium liquidity with quality trade executions.
Access to trade with the MT4 platform which is apposite for complex trading strategies.
Efficient trilingual customer support desk.
Mobile trading is supported.