Anyone know Pacific Financial Derivatives (PFD) this broker? is it any good ?

[annbeea]

I see this broker, the spread seems very attractive, any one know more about this broker besides those appear on the net?

 

Is it good and reliable?

 

why it change name from WSD to PFD?

 

anyone know?

 

Thanks a lot.

[annbeea]

I just try its demo, it has many requotes and cannot liquidate position even try many many times.

[PaulLouis]

The company has undergone major changes in corporate identity, ownership, regulatory accreditation, product offering etc since May, 2011.

Identity: The company has been renamed as Pacific Financial Derivatives Ltd. Ownership, address details are as appearing in http://www.business.govt.nz/companies/app/ui/pages/companies/973842.

 

Accreditation: The company was since 2005/06 as ‘NZX futures & Options Participant Firm’ ceased as of 30-09-2011 following the regulatory regime changes in NZ and formation Financial Markets Authority (www.Fma.govt.nz.com) and PFD has been authorised as a Future dealer eff. 1-10-11- verifiable > http://www.dia.govt.nz/MSOS118/On-Line/NZGazette.nsf/658bf950ed55760ccc256ce40072801f/ 36cb719a7c3db2d5cc25791a0055a1bf!.

 

Client Funds: As a Futures Dealer, PFD complies with the NZ Futures Industry (Clients funds) Regulation, 1990 and clients’ funds are segregated held in trust in reputed banks and are therefore secure with PFD.

 

Currently PFD's promotions are appearing in the following sites:

http://www.dailyforex.com/PFD-NZ/PFD-NZ-review/749

http://www.forexbrokerguide.com/?limit=15&page=2

http://www.forexbrokerz.com/brokers/pfd-nz-review

http://www.actionforex.com

http://www.fxempire.com

http://www.medanforex.com/broker-forex-detail/213-corporate.html & others

 

Company has tie up with more than half a dozen credible counter-parties and has the capability to offer best FX price and to ensure best execution to its retail clients. PFD is an ECN broker, also supports trade execution through chat, email, telephone since it has a 24/5 dealing desk.

Edited November 29, 2011 by PaulLouis

[PaulLouis]

PFD is an ECN and thereby offers one of the best execution services with no re-quotes and at zero latency. Its servers are hosted from a state of art colocation centre in Auckland, NZ one of the best in NZ. PFD apart fom being an ECN, also supports trade execution by chat, telephone,, Skype since it has a 24/5 dealing desk for Asia, London and US sessions. PFD has several trading platforms viz., MT4 (PFDTrader), KiwiTrader, PFDTrader (option) all of which are most user friendly and fast in execution. Nevertheless, the comment of Annbeea about the demo platform cannot be commented until it is verified. Edited November 29, 2011 by PaulLouis

[PaulLouis]

I just try its demo, it has many requotes and cannot liquidate position even try many many times.

PFD has one of the very best execution quality; its server is located in a state of the art colocation centre in Auckland, NZ and its data centre in the US which ensures zero latency, no re-quotes at all. PFD has 3 trading platforms viz., PFDTrader (MT4), KiwiTrader and PFDTrader (option) with capability to support all types of system trading, EAs etc.

[PaulLouis]

Link http://www.pfd-nz.com/company-profile.php reads "effective May, 2011, Pacific Financial Derivatives Ltd (PFD), a New Zealand registered company bearing # 973842, is 100% beneficially owned and controlled by a Japanese investor, who has rich experience in running similar large derivative institutions in Japan, the biggest retail FX market in terms of 40% global retail trading volume, and supplying most competitive terms and conditions to retail clients. The Japanese investor brought in and implemented Japanese advanced Trading Technology in the Company. This control change enables PFD towards robust financial management, focus on technology investment by way of adding KiwiTrader, a new trading platform, new direction, new policies, risk management, stringent compliance, best customer service etc. which explains why the company was rebranded to Pacific Financial Derivatives Ltd". The above explains why the company was rebranded.

[SIM_TRADER]

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