Pfd scam

[SamuelA1]

i have started with PFD an IB MAM account and i promised the company to bring over 2 millions dollars net worth of clients, but my condition was to test the water before i hail in ..

brought my first client and asked her to throw in a 1 thousand dollar

i came to PFD because of one thing and one thing only ! low spread and also to test it and compare with other brokers ...

after i start trading i noticed that the spread isn't actually low for the EUR/USD pair was about 2.3 . i messaged Compliance " Paul" and he claimed that because my account is MAM and they have to pay me rebate he spread is high . so i came to an agreement with him and i said okay well, i am not looking for a rebate but for a good execution rate and low spread,
now his best solution was that PFD Cancel my contract and not paying me any rebate and give me a lower spread . i said YES to the agreement .

i went back to trading again and i was not aware of the fact that this broker has a large slippage market gap and poor filling orders . that cost me almost the whole 1 thousand dollar . in that time another client was in the process of depositing and 4 others on the way . i stopped all transactions and i said i should test this broker further more on these issues ..

after a week from my agreement being cancelled i noticed that spread return to be very high " please see attachment " and Mr. Paul responds were nothing but normal and regular excuses for a market maker dealing desk broker .. for instance this is the best rate we have from our liquidity provider, the spread is higher at night time, slippage cause higher spread due to recap and the list goes on and on ....all EXCUSES !! if that the case Mr. Paul why did you offer me low spread ??
no it goes beyond that where he actually so low ethic and rude as he acknowledge the problem yet did not offer me any rebate !

after countless of emails and chatting with their online support telling him dude i am still suffering with high spread without this issue being resolved .

i was fed up with this and i wanted to post a review on FPA against this fraudulent activity on the account because i am being robbed basically clean and clear and lied to, i see this posted by another person from Canada :

I actually now have a volume agreement with them as I moved some large systems over. I am allowed to introduce others at these conditions if anyone is interested. You get the base spread minus 0.3 pips, this will give you spread on USD/JPY and EUR/USD around 0.2 pips with no commission whatsoever. It drops sometimes to negative 0.1 pips on occasion! I have spent years hunting and these are the best real conditions I negotiated anywhere. Note this is a true (no mark up discount) so take 0.3 pips off the demo spread to assess what you will get live. You get an instant credit into your account after each trade. This is a win-win situation you the absolute best conditions, and it helps me continue a good relationship with the broker to maintain these conditions when my systems have a quiet month.

i did not believe my eyes ! this trash been lying to me and charging me with high spread just because he decided so .

In that time and unfortunately my second client deposit came through and note the amount he transferred is not the same amount came through to his account . Now the murderer habit is to always point finger after he commit a crime, They claim its my client's bank .
After digging into why the amount shown in my client PFD trading account was less than the amount he transferred is because of the third party they use . They charge unbelievable commissions . So for those who wants to transfer money be aware .

Nonetheless after the money came through we tried to trade a little so we can balance it back up a bit with HIGH SPREAD note and i wasn't paid rebate .

Now we are trading with 2 accounts one has higher equity than the other, but we are trading with volume of 0.01 . After taking few trades another SCAM activity i noticed " well i guess its in their blood " . The trades are only executed on one account, not on both, even though its a MAM account and trades should be executed on all accounts linked . When confronted that was their pathetic respond :

We observe that though ac 65***- ***** ****** is one of the accounts linked to MAM, it has an exceptionally disproportionate lower equity/free funds compared to one of the other ac 65*** – ****** ******* linked to MAM.

When trading comparably small trade sizes and when linked accounts have a comparatively higher and disproportionately free funds, it is possible, due to rounding off, the entire small size trades could flow to the ac with higher disproportionately free fund.

E.g., ac1 has 100$ ac2 has 10000$, then proportion of trades from a small size trade for ac1 could be either negligible or zero.



Paul do you hear your self how pathetic and stupid you sound ?



Lets move on ... Besides all that they are doing I open my MT4 and i see the market is merging towards my pending orders got all excited all profitable trades and all of a sudden trades are cancelled !?!?!?!?!?! What the hell happened ?


Of Coarse a broker who is less interest that you make money for obvious reasons mot being STP but market maker and his intention that you loose money so they profit . Logic ? I believe so ..

I went online started to chat with their online support and after he checked he said that these order have been expired ! I said well the pending orders are placed without any expiry . When you place a pending order at the bottom you have a box that you can check if you want your orders to be expired at a certain date . All my pending orders were placed without any expiry .

So i emailed their support and they claimed that these trades were cancelled by myself . I said that is not true i have no interest of intervening with my own orders because it was me who set the robots there for that purpose in the first place .

The respond and quick action was to block me from logging in to my MAM account . Their condition to unblock the account was : here i will post it for you


Please give us your assurance that in case orders are cancelled from IP 85.61.140.60 in future also, you would own responsibility so as to consider unblocking the IP.

Thats right they want me to to take responsibility over something i did not commit .
he wanted me to give him the green light for continuing cancelling trades by acknowledging that it is me who cancelling pending orders .

Paul " from compliance " is trying to manipulate me on taking responsibility on actions was done by his firm .also to cover his ass from Forex pace army in case there is a post so he can say hey look he admitted that it was him !
i mean ? what kind of low ethic broker are you ? you re blocking my IP and using that against me because i claimed that you cancelled trades for me ? and you want me to say yes i did your crime and under that condition only you will unblock my IP and let me trade so you can have the green light to continue with your dirty work ? no and you are even rude and shameless that you have the gut to confront me ?

The last thing i want to add here is that this broker has been modifying my orders on a tighter SL than the one originally set by the Robots, which means higher chances of losing the trades and of-coarse you will not notice that because its robotic isn't it ?! STAY AWAY FROM THESE SCAMMERS . I contacted the person who i bought the robots from and he confirmed that the SL was modified because the one he has is different .

FPA please help me against these monsters by spreading the word and let others know . I would also like to have a court against them as i have a solid proof for every thing i said .

 

[Pharaoh]

I suggest ending all trading and trying to withdraw all money immediately.

The FPA Traders Court stays away from IB relationships. On the other hand, if they block your access to your money, that's a very valid case.

Go ahead and invite Paul to come here and explain PFD's side of the story.

 

[info@pfd-nz.com]

PFD Reply
1. As per PFD’s records, this review has been placed by Samuel REMOVED BY FPA and his location is REMOVED BY FPA and not Spain. On 12/3/2015, Samuel approached PFD to assist him to open a trading ac. PFD has a user friendly online signup which is in use since 2010 which 99% of our individual clients use. Samuel had trouble, however with the online signup and therefore submitted a paper mode application. Since REMOVED BY FPA residents could not be electronically verified, PFD requested to comply with our standards requirements to provide notarised copies of his ID + address proof. Samuel resisted and was unhappy but finally cooperated. After providing him continuous support for 41 days, he could be verified and an ac opened on 22/4/2015. Then Samuel was educated how an IB relationship works and was thereafter approved as an IB. Samuel thereafter learned from PFD how a Multi Account Manager works and its features.

2. On 20-05-2015 PFD wrote to him “You gave us an impression that you had monitored our spreads and perhaps also demo traded on our platform before becoming an IB. You started trading and we were rebating you with base rebate. However, you offered to forgo the rebate and required us to move your account to PFDTrader (direct) account which has a comparatively narrower spread which we did. If you are looking again for rebate, once there is no open position, please advise us so that we can move your account to PFDTrader (Indirect ac) group which naturally will be wider in spreads when compared to PFDTrader (Direct ac).

We are more than happy to go by what you opt for in this regard which kindly advise us accordingly. PFD is a licensed broker in business since 1999 and we have a very transparent process and system unlike what you try to allege. PFD has no control over the market movements but we are sure we offer competitive spreads for major symbols.

My simple advice to you since you do not have any clients so far, please allow us to close down your MAM Master ac 40035 and instead you may kindly consider trading using ac 65683 and you may experience better execution results”. PFD’s spreads in PFDTrader and PFDPro are real time available on PFD’s website > https://www.pfd-nz.com/spread. Prospective PFDTrader clients see same spreads in PFDTrader demo account, test trade and satisfy execution quality which is identical in demo and live accounts. Samuel opened a PFDTrader account. PFD allows base rebate of 0.50 RT pips to IBs on PFDTrader and for that reason mark ups about 0.20 RT pips on spreads on IB sourced clients. Samuel compared PFDTrader direct spreads with PFDTrader indirect client spreads and requested that he and his future clients be allowed PFDTrader direct clients spreads and for that reason he did not want IB rebate. PFD agreed and his ac was moved to PFDTrader direct clients’ spreads. Spreads comparison widget demonstrates that PFD’s spreads are one of the tightest in the industry. PFD is a NDD broker since 2010 and PFD does not resort to anything unethical in its practices.

3. Your only client funded about GBP700. Thank you. PFD is an STP broker connected with about a dozen liquidity providers offering market execution, variable spreads, allowing all kinds of strategy trading, system trading and high frequency trading etc. PFD’ servers are in NY and PFD makes all it can to keep latency issues to the bare minimum to avoid slippage but PFD as it offers original spreads in PFDPro, it is possible in a fast moving market, and slippage could also be wider. PFD wrote to him on 15-05-2015 “PFD did review your trades. PFD continues to offer one of the tightest spreads and for that reason when the market moves, the possibility of slippage is not ruled out. If we widen the spreads, perhaps we could contain the slippage even in a fast moving market. Our clients are happy with the tightest spreads. Broker to broker transfer form link is sent as required > https://www.pfd-nz.com/downloads/External_Transfer_Form.pdf which please complete and send to us early in case an account to account transfer is required”.

4. PFD offers base rebate to IBs and PFD does not restrict an IB sharing his base rebate with his clients who generate trade volumes which is good for an STP broker like PFD.

5. Your second client funded about GBP 4K. PFD has multi-currency direct bank accounts with Bank of New Zealand and ANZ National Bank Ltd. PFD’ does not levy any charge/commission either for funding or withdrawal by clients and offers net of bank charges. For a client maintaining GBP base currency ac, the client’ bank remitted funds in NZ$ which had to be converted back to GBP and thereby client incurred exchange losses which was avoidable by the client’ bank and not by PFD or its bank. On 19-05-2015 PFD wrote to the client “ We had same difficulty with some other payments from Santander UK PLC in the past, your bank. We investigated and understood that Santander UK PLC do not have direct GBP wire transfer arrangement and what they do is they route wires through third party providers”. On 25-05-2015 PFD wrote to the client “Funds received in NZ$ and converted to GBP and credited to your account. You may take up with your bank why funds were remitted in NZ$ and the difference is as a result of the exchange losses i.e., converting first GBP to NZ$ by your bank/its payment provider and secondly from NZ$ to GBP by PFD to credit to your GBP base currency”.

6. Money Manager Account (MAM) supports trade distribution based on balance, equity or free margin but if the balance/equity/free margin is a negligibly low value which is lower than the minimum margin required for a 0.01 lot, trade distribution by MAM is impossible which is a fact and is a basic. In the MAM ac, the trader using robot were placing high frequency trading of 0.01 lots which is the lowest trade lot but the second slave ac had a single digit balance. MAM master's 0.01 lots did not split but flew to the only other slave account which had sufficient margin. Please note the other slave ac which had insufficient margin cannot expect any trade distribution. That is how MAM is designed to work.

7. On 27-5-2015, Samuel alleged that all pending orders were cancelled from PFD’ side. We investigated and found orders were cancelled from IP 85.61.140.60, some host in Spain. Since PFD had no reason to cancel its clients orders for security reasons we reset Samuel’s password and also blocked the IP 85.61.140.60 which cancelled the orders. In response, Samuel finally wrote “now i can’t log into my MAM account. Unblock all IP's and let me on my own. Do not intervene or cancel any trades the robots set. I have multi places to log in to the account because it’s not just me”.

8. Samuel' trading strategy made his first client lose her about GBP700 and his second client lose about his GBP4000 deposits.

9. Samuel from the beginning has been abusive to say the least.

Moderation Team Note:

We do not know where this client signed up with PFD-NZ from, but his review was submitted from a major ISP in Spain.