Discuss PFD-NZ.com (Pacific Financial Derivatives Limited)

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[Paul Louis]

ommerce Zone> Forex Services Discussions> Forex Brokers> PFD-NZ.com (Pacific Financia

This review is by an Employee: Pacific Financial Derivatives Ltd (PFD) (http://www.pfd-nz.com]: The online trading provider matching highest standards in integrity and safety is an authorised Futures Dealer authorised by Financial Markets Authority, NZ (http://www.fma.govt.nz), member, Financial Service Provider Register, NZ (http://www.fspr.govt.nz), broker member, DGCX (http://www.dgcx.ae] rebranded name not updated in DGCX list) and member Financial Dispute Resolution, NZ. (http://www.fdr.org.nz).
Country of origin : New Zealand
Regulation : Authorised Futures Dealer by Financial Markets Authority (NZ)
Payment options : e-wallet (Skrill (Money Bookers), bank wire etc
Minimum account size : USD200
Minimum lot size : 0.01 lot (1000) – check the announcement below for more details.
Leverage :1:500
Spread : From zero (0) for KiwiTrader Gold Zero
Summary :As a Futures Dealer, PFD is permitted to conduct the activities of offering clients the ability to trade in the Spot Foreign Exchange, Spot Metals and Spot Oil and deal in futures contracts. PFD complies with the New Zealand Futures Industry (Client Funds) Regulations 1990 and thereby secure and protects clients money. NZ remains well placed among the world's highly rated sovereign credits, with its creditworthiness supported by moderate public indebtedness, fiscal prudence, and strong public institutions.
New Zealand has developed a sophisticated, unrestrictive business environment that competes aggressively in world markets. Geographically New Zealand has the advantage of being the first country to start the trading day being midway between the USA and Asia. This advantage is further complemented with political stability and world class business orientated governance. PFD is a right choice for traders.

 

[info@pfd-nz.com]

Reply from PFD Company representative to Leo (Singapore)'s post.

Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety features KiwiTrader as:
"Trading directly from charts
Most user friendly trading windows
Advanced charts
Graphical representation of orders and positions
Embedded indicators programming language
Trade System tester
Advanced syntax highlighting helps to program indicators
Use of interactive help to consult about Indicator
Bullish zone display on the chart by Plot Trend function
Customizable sounds
KiwiTrader is only for genuine traders and not for scalpers".

There is adequate disclosure that KiwiTrader is not for scalpers-reason being KiwiTrader Gold Zero and KiwiTrader Gold accounts are offered with most competitive terms and conditions e.g., ZERO spread and FIXED spread for FX majors respectively. With such attractive terms and conditions, KiwiTrader does not have the capability to clear such scalping trades with PFD's Liquidity Providers. The trader opened a Gold Zero account and we pursuaded him to migrate to Gold and then to MT4 since his trading proved to be complete scalping. PFD advised the scalper that KiwiTrader accounts lack the capability to clear scalping trades to its LPs. While PFD smoothly migrated the scalper from KiwiTrader to MT4 platform, it honored the scalper's withdrawal request instantly for the profit he made from scalping trades without disputing. Effectively, PFD could have objected to the scalper's trading profits but PFD cared more on PFD's reputation rather than a loss.

It so turned out that the scalper could not make same level of profit from scalping trades while he was trading on MT4 platform unlike in KiwiTrader platform. The scalper made only a small trading profit from his scalping in MT4 which he completly withdrew instatly. PFD did not interfer on the price feed despite the fact Leo (Singapore) is a scalper in MT4. Leo's allegation is that PFD has dealers and dealing desk and he alleges that dealers might be manually intervening in price feeds. We have dealers in each market trading session only for monitoring our trading systems and to ensure trading systems are up and running. The scalper's alleged claim that PFD widened the spread when the scalper attempted to close his trades is unfounded and baseless. PFD does not believe in anything unethical. Leo (Singapore)'s posting requires moderation.

 

[Pharaoh]

Zero spread? Does PFD charge commissions on those trades? If not, considering that a broker which passes trades on to the real market must pay the wholesale spread price to it's liquidity providers, why would any broker offer to support trades that cost the brokerage money?

Then again, most brokers that charge commissions are ECN and allow scalping.

Either way, this doesn't give me a warm and fuzzy feeling of confidence.

 

[RahmanSL]

I was looking for "Leo" above but there is no "Leo" the Lion...only two PFD's employees and the Son-God

So it struck me that perhaps I should look in Brokers Reviews section...and there he was; Leo.

What is half a star rating????? That's what's on PFD Brokers Reviews.


Apart from Leo, who very generously left 2 stars in his first post, three other post (giving 5 stars ratings) were removed by FPA Moderator 'cause they were discovered to be from PFD employees.


Zero spread is very strange since without any spread, how does a broker makes money??

 

[info@pfd-nz.com]

Pharaoh,

Before posting, it would have helped if you had a glance on Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety to gather some basic info about PFD:

Company Profile :: Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety,

Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety

Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety

Brokerage Accreditation :: Pacific Financial Derivatives Ltd :: Authorized Futures Dealer by New Zealand Exchange Limited

Likewise Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety would have given you a clear idea about our platforms, products, accounts terms and conditions, spread, leverage, etc. PFD has various types of accounts and naturally with different commercials. PFD has API capability to receive price feed from 13 reputed LPs, auto risk management systems in place and therefore has the capability to offer zero spread while applying commission on profit trade, maintenance of incremental margin and incremental leverage on the basis of positions held etc. Understanding the profile of a company would have helped to avoid such generic adverse comments.

 

[info@pfd-nz.com]

Hi Rehman,

PFD has the capability to offer customised products. Such capability comes from the fact that PFD has 13 Liquidity Providers who stream prices to PFD through API terminal. PFD has the auto risk management tool and capability to risk manage its traders' trades and clear its trades to the LP who provides the lowest spread at any given point of time. This capability enables PFD to offer ZERO spread while charging commission on traders' profitable trades. PFD has engaged as a broker since long and has developed its own risk management tools and systems which provide PFD the capability for offering the best terms and conditions for its traders. A glance to Pacific Financial Derivatives Ltd: The online trading provider matching highest standards in integrity and safety will give you more insights in to PFD's products. If you had done that making a generic adverse posting could have been avoided.

 

[Pharaoh]

So, does all of this make PFD consider itself to be ECN?

 

[info@pfd-nz.com]

So, does all of this make PFD consider itself to be ECN?

Hi Pharaoh, ,

Yes, PFD is an ECN since PFD does not trade against clients and there is no need to manipulate the price. PFD consolidates quotes and show the clients the best bid and offers available. When clients make a trade, PFD passes it through to the counterparty who really is the trader.

 

[Pharaoh]

I was under the impression that virtually all ECN's allowed or even welcomed scalping. The primary reason that other brokers ban scalping is that they can't hedge themselves against the market quickly enough and a trader's gains from scalping become the broker's losses.

Also, you mention that fixed spread is an option. Fixed spread doesn't exactly fit with my understanding of how an ECN broker should be passing on the true spread from the market.

Are your KiwiTrader accounts ECN?