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Pacific Financial Derivatives Limited (PFD-NZ), founded in 1991, may be based in Auckland, New Zealand, but its Forex services have a decidedly global reach. The company is authorized by the Financial Markets Authority in New Zealand and is a member of Dubai Gold Commodities Exchange. It is also a member of the Financial Dispute Resolution scheme in New Zealand, a third party service that helps settle resolutions between companies and their clients.
FD offers brokerage services and trading platforms for trading in Spot Foreign Exchange, Spot Metals, Spot Oil, Commodities, CFDs, Indices and deals in Futures CFD Contracts for small, medium and large investors and market participants across the globe.
There are no real accounts at PFD. The two choices are actually two different trading platforms, the PFDPro(MT4) and the PFDTrader (MT4). Both of these accounts offer trading in FX, CFDs and Futures. Chart trading and technical analysis are provided in both.
The minimum deposit for the PFDPro account is $1000 and the leverage is 1:100; there is no minimum for the PFDTrader and leverage is 1:300 for accounts with equity up to $5000, 1:100 if above $5000.
OptionsXO Trading Platform
While there is no commission charged for money in the PFDTrader account, a commission of $1 per side/standard size lot is taken on all PFDPro deposits.
When it comes to spreads, PFD prides itself on offering the most competitive in the industry.
I was disappointed when doing this review to see that there a demo account was not offered. This is a feature that almost all other Forex brokers provide and is an excellent way for beginner traders to gain the experience they need when first starting out in Forex trading.
PFD offers the MT4 MultiTerminal which is designed for managing multiple Forex trading accounts simultaneously and is appropriate for account managers and traders who handle multiple concurrent accounts. It works with securities of Forex, CFD, spot metals, shares and futures and offers a Single-Click, Single-Platform, Multiple Accounts solution as well as multiple order types such as Market, Stop and Limit. All unique order types accepted including Trailing Stop, Close by and Close all. Traders can receive quotes and news in the online mode.
Multi Account Manager (MAM) is designed for Money Managers. It is an integrated software tool to quickly execute block orders under a master account and conveniently automate trade allocations to multiple customer accounts. MAM broadens the functionality of the MT4 platform by enabling the Money Manager to effectively trade and manage multiple accounts. MAM supports Expert Advisors (EAs).
PFD has joined forces with leading spreads comparison site, FX Intelligence, to compare spreads between PFD and other major brokers. Prices and spreads for all major currencies are shown. Traders can use the analyzer to rank the best regulated brokers for currencies and market-hours that they trade.
During the course of our Pacific Financial review I was satisfied to see that most information about the brokerage was listed on their website. In fact, the website is clear, intuitive and suited to new users who want to learn about the company without being distracted by irrelevant or unnecessary features.
I did miss, however, the usual educational material almost always offered by other brokerages. There was nothing about video tutorials, webinars or even news reports and analysis. This is sorely lacking for traders on all levels of trading and is somewhat surprising considering the fierce competition that reigns in the Forex brokerage arena.
Funding to accounts at PFD can be using Credit/Debit Cards, bank wires and a host of online payment programs such as Money Bookers (Skrill).
Withdrawals are made by filling out an online withdrawal form which can be used for bank wires and other funding methods. The same form can be sent in its physical form.
PFD provides continual 24 hour support from 10:00 am Monday New Zealand time (11:00 PM Sunday London time, 6:00 PM Sunday New York time) through 10:00 am Saturday New Zealand time (11:00 PM Friday London time, 6:00 PM Friday New York time)
Customer service can also be reached via email, Chat or Skype. It should be noted, however, that the company must first approve your Skype invite, which may mean that you won’t have immediate assistance when you first attempt to contact the company.
There are only a number of Forex and CFD brokers from down under and PFD is one of the quality ones. There are, however, many ways it can improve if it wants to be competitive and become a leader in the field. PFD should start offering bonuses or promotions in order to attract more clients. Defined accounts separate from their platforms, educational material and a demo account would all go a long way towards making this broker stand out.
Review info: PFD NZ
Review Date: 2016-10-15
Rating : 4
Reviewed By : Sara Patterson (Google+)