12 reviews of PFD are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
VPS: PFD's production servers are with Cervalis in USA and our DC with Vocus Communications in Auckland New Zealand . Ideal to set up VPS in USA with any provider including Cervalis LLC, 4 Armstrong Road. 4th Floor, Shelton, CT 06484
PFD does not provide VPS.
I have a few friends i would like to introduce to pfd but my major question is where their trading servers are located. I want to collocate my vps but the information am getting about DC in Newzealand and trading servers in the US is a bit vague. Someone to kindly clarify on the best place to collocate my vps. Thanks
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 are fair, transparent and honest with 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.
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.
Trade execution: Our trading servers are located in a state of the art facility/data centre and See the Maxnet Data Centre video by APC here and the executions are excellent
PFD offers multiple trading platforms. In KiwiTrader we offer major FX. In MT4 we offer FX, CFDs, General Futures and Cash Indices. In PFDTrader (option) we offer only FX and FX Option.
The below is in response to Ngapain from FIJI's query.
PFD is connected via FIX API with 12 liquidity providers and therefore enjoys deep liquidity. This enables PFD to offer base spreads to its clients. Traders can real time compare PFD's base spreads from the link > http://www.pfd-nz.com/spread-comparison.php.
Anyone is presently having account with PFD ?
How is the spread ? very wild from low to high or just constant spread ?
How is the withdrawal processess ? is it easy or very husstling ?
Please share your experiences.
One appearing now requires word alignining; please replace with the below.Tks
"Reply by current owners of PFD to the review purported to be posted by ‘r Patel from WSD INDIA. Saturday, January 1, 2011 reproducing a media report of an investigation’
Firstly, WSD Global Markets Ltd (WSD), has been sold by the former owners and its acquisition by the new Japanese investor and the rebranding of the company as Pacific Financial Derivatives Ltd (www.pfd-nz.com) with the approval of New Zealand Exchange the then regulator was completed on 6/5/2011.
Secondly, following the regulatory changes in NZ, PFD applied for a fresh license from Financial Markets Authority (www.fma/govt.nz), the apex NZ regulator with the new owners as applicant and PFD has been granted accreditation as an Authorised Futures Dealer on 29/09/2011 by FMA.
Considering the above facts, the media report re-produced in the form of a review in our opinion is redundant, historical and lacks relevance or relation since the referred investigation pertained to a period prior to the
current control/ownership change.
Thirdly, it is gathered that former owners had several companies and the SFO investigation and complaints pertained to related companies mostly pertaining to WSD Financial Group Limited, a separate legal entity. It is gathered that similarity in names caused confusion in the minds of creditors of the related companies who lodged complaints which resulted in an investigation. SFO for a while treated all these entities as one although it was obliged to observe the legal distinctions between the various companies. While SFO were advised matters in perspective, it closed its investigation with no charges laid, published another media report as it did while commencing the investigation.
Finally, what is the relevance and motivation of posting a media report about the commencement of an investigation which is concluded with no charges laid and also being silent about its outcome?. Posting a media report about the commencement of an investigation while being silent on the closure of the investigation with no charges laid is nothing short of a distorted and a misleading reporting. Hence the review requires moderation by administrator"
I have been trading with this company for 5 years and have no problem with the service or any withdrawals. After having inquired with the company and making a visit to their offices as a concerned citizen, i got to know the facts and that a few past associates who havent been able to successfully manage their careers after leaving WSD. Naturally upset and disgruntled, they seem to be venting their greviences and attacking the company by behind the scenes blogging. Teh SFO inquiry is routine as NZ wishes to regulate its markets tighlty and over 50 companies are being investigated currently. When a compliant comes in even frivolous or malicious, the authorities will look at it.
WSD continues to be regulated by the NZX and the Securities Commission which is all that should be said in the matter finally. THIS SAYS IT ALL!!!
Veeeeeery bad company.
08 March 2011
BEWARE RIAZ ASGAR PATEL, WSD GLOBAL, WSD INDIA, WSD DIRECT etc etc etc SCAMS - 12-12-2010, 01:34 AM
SFO executes search warrants in WSD Group investigationThe Serious Fraud Office (SFO) today announced that it had opened an investigation into the affairs of the WSD group of companies, executing search warrants at WSD Group’s premises at 475 Mount Eden Road and a private residence in Glendowie earlier today.
WSD was, until recently, controlled by former Wall Street Banking Corporation Director, Riaz Patel.
The investigation involves WSD Global Markets Limited, WSD Financial (NZ) Limited, WSD Financial Group Limited and others. WSD Global Markets Limited is accredited as an NZX Futures and Option Firm. None of the other entities are accredited or regulated by NZX.
SFO Chief Executive, Adam Feeley said the investigation had been coordinated closely with the NZX and Securities Commission.
Mr Feeley said that WSD has actively promoted New Zealand as part of its marketing strategy to investors stating (on its website):
“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…. With new initiatives it has grown into a financial services powerhouse in the Pacific with regulations that add support to the industry. More and more international investors are now looking to New Zealand for investments and related services.”
“Most of the investors in WSD are overseas residents, so it is important that the SFO does all it can to protect New Zealand’s reputation amongst both domestic and international investors as a well-regulated and safe place to invest.”
The investigation centers on allegations WSD has failed to correctly account to investors for funds received.
In 2008 the Cook Islands Financial Supervisory Commission placed WSBC in statutory management and revoked the banking licence with effect from 31 December 2009.
Mr Feeley, said, “There is a misconception that the SFO has previously investigated WSBC. In 2008 we simply to provided assistance to the foreign authorities who were investigating WSBC. The file was closed once that role had been fulfilled.”
Mr Feeley added that the investigation was the twelfth major investigation commenced by the SFO this financial year.
“We are well ahead of the expected caseload for the year to date, with a total of 20 cases involving losses of over $630M under investigation, and a further 32 cases involving losses over $235M being prosecuted.”
Mr Feeley said that the SFO did not see any sign the SFO’s caseload diminishing in the near future.
For further information
Serious Fraud Office
Phone +6421 333 539
Note to editors
Background of WSD Group
WSD describes itself as “an international company that specialises in Foreign Exchange, Precious Metal, Futures, Options, and CFD’s.”
WSD is believed to be operating in New Zealand, Australia, Kenya, India, Thailand, UAE and the United States.
SFO provided assistance to Cook Islands and Indian authorities in 2008 when those authorities investigated WSBC and Mr Patel in 2008.
A former representative of one of the firms under investigation has alleged that the WSD group of companies is nothing more than a “Ponzi” scheme.
WSD Global Markets Ltd was the outsourced margin trader for WSBC Bank formerly the holder of a banking licence in the Cook Islands. The Cook Islands Financial Supervisory Commission placed WSBC in statutory management in 2008 and revoked the banking licence with effect from 31 December 2009.
During the period of statutory management the investments of many WSBC clients appear to have been transferred to WSD entities. Concerns have been raised over the legitimacy of some of these transfers.
The Thai Securities and Exchange Commission terminated WSD Financial (NZ) Ltd\'s futures trading license on 8 June 2010.
The role of the Serious Fraud Office
The Serious Fraud Office (SFO) was established in 1990 under the Serious Fraud Act in response to the collapse of financial markets in New Zealand at that time.
The SFO operates under two sets of investigative powers. Part 1 of the SFO Act provides that it may act where the Director “has reason to suspect that an investigation into the affairs of any person may disclose serious or complex fraud.”
Their spreads are not what they advertise on the web site. Pure live clients' support service.
I was trying to find a good broker, and I came across WSD. I wasn't sure if they were any good so I opened a DEMO account and eventually opened my Live account with them.
I don't agree with the analysis of WSD at all. Especially the 'disadvantages' listed above. They have spreads as low as 0.5 on EURUSD, and I had no trouble opening my live account with them. Their staff are professional and fully cooperated with my needs. I've been trading with them for a couple of months now and am quite happy with it.
Very good service. over year i been with them business. Great support and language help line. Other broker not have language service so good.
Also the WSD software very easy use for place order.
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