My experience
Here are my experiences with this broker.
I have been trading ~13 years. I have tried at least 70 live accounts. Most broker are just awful, others honest but their trading cost are simply too high.
PFD have some of the lowest spreads with no commission. Slippage does occur around news, but in general it is way less than all the other retail and many prime brokers. Spread also comes back down extremely quickly after a news release, normally within a few seconds where as many brokers hold it for a few mins.
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.
Use this link to open a live account to get these conditions.
https://kiwi.pfd-nz.com/signup/logon?ID=64857
You should know all trading styles are allowed but they reserve the right to not discount scalping trades. It is my understanding that as long as you permit them to offset their risk they are happy. In reality 80% of my trades close within a min and at ~2 pips as I have a “break even” stop in my system. However, they are happy with this and don’t count this as scalping.
So all in all a good broker for many systems. If you have a solid system that needs the lowest trading conditions then they could be ideal for you.
Cheers,
Sim
