Pacific Financial Derivatives is a MetaTrader broker offering forex services with no dealing desks and allows traders to trade forex and CFDs using a single account. A registered and regulated broker, Pacific Financial Derivatives offers forex, metals, indices, and commodities as its trading instruments coupled with a good set of trading conditions.
Unearth what else Pacific Financial Derivatives has in store for its traders by reading this comprehensive broker review.
Established in New Zealand, Pacific Financial Derivatives Ltd is funded and solely owned by a Japanese entrepreneur who has a rich experience in manning derivative companies in Japan. This forex brokerage firm is powered by advanced Japanese trading technologies.
Pacific Financial offers the world-popular MetaTrader platform and boasts of its competitive pricing and deep liquidity. Traders are also promised of unrestricted trading strategies implementation. The broker is in the business since 1999.
Tracing its regulatory standing, Pacific Financial Derivatives has a good regulatory background. Upon its foundation in 1999, the institution was first authorized by the Securities Commission, making PFD brokerage as an Authorized Introducing Broker with the NZ Futures and Options Exchange. In 2011, the Exchange ceased its oversight of Futures and Options participants. In the same year, PFD Ltd sought another governing body to be affiliated with and landed with the Financial Markets Authority (FMA) and accredited the firm as an official Authorized Futures Dealer.
The transparent business registration and regulatory background of Pacific Financial is a good indication of the clients’ safety of fund. The company also claims that client fund is segregated from the company’s.
Pacific Financial Derivatives Features and Fees
The following are the financial markets Pacific Financial Derivatives are offering to its traders:
- Forex (49 currency pairs)
- Metals (Gold and Silver)
- Indices (9 indices)
- Commodities (4 Spot Oil CFDs)
In total, PFD has 64 featured trading instruments.
Pacific Financial Derivatives has three account types in its offerings. The accounts are named PFD Trader, PFDPro, and PFDProPlus. PFD also offers a separate account for Sharia Law-abiding traders in the form of Islamic Account. Let’s scrutinize the distinctive features and conditions under each account type.
PFDTrader – This account type does not have a required minimum deposit amount. Trading conditions under this account type include leverage of up to 1:300 (for accounts with equity up to $5,000, 1:100 above the $5,000 equity). Margin Call is set at 150%. For Stop Out Orders, 100% rate for $5,000 equity, 50% for beyond the said amount. Zero commission fees apply.
PFDPro – Tightest spread is featured in this account type while no minimum initial deposit is asked. The leverage level is up to 1:100. Margin Call is at 100% while Stop Out is at 50%. A $1 commission fee applies per side for every standard size lot.
PFDProPlus – this account type requires a minimum of $1,000 initial deposit. The leverage level is up to 1:100 with the same Margin Call and Stop Out levels with the PFDPro. Tightest spread is featured in this account while the commission fee is also at $1 per side for every standard size lot.
For Islamic Accounts, there are no interest fees for overnight positions. However, administrative fees will apply for positions held for more than 3 days. More so, it has competitive spreads and leverage levels of up to 300:1. Trade executions are also guaranteed fast and trading strategies are unrestricted.
PFD provides several options for traders to fund their accounts including Credit/Debit cards, e-wallets, Skrill, Poli Online Banking, and bank wire transfer. For bank wire transfer, it has a deposit charge which is 3% of the total deposit fee.
For withdrawal transactions, PFD has two allowable options: online requests and paper mode withdrawal form. The withdrawal form method is designed for overseas bank wire. The online request can be made by using the trading account credentials of the client.
Pacific Financial Derivatives Trading Platforms and Tools
PFD utilizes an MT4 MultiTerminal platform. This is most suitable for traders who wish to manage multiple Forex trading accounts simultaneously.
MT4 MultiTerminal Key Features: manage several accounts, supports multiple order types, accepts all unique order types, real-time quotes and market news online notifications, access to all featured trading instruments, one-click trading, and one platform for all accounts.
Limitation: This is only compatible with Windows-powered devices.
PFD also features a Multi Account Manager (MAM) which is specifically designed for trading by Money Managers. Several unique features of this special account include trade block orders, limitless number of investor accounts, supports all Expert Advisor types, and allows all trading strategies.
PFD is a good broker choice for traders who are hampered by required initial deposit fees for opening an account, though it is really necessary to fund trading accounts to cap higher gains.
On the flip side, there is only one trading platform to use for this broker and no mobile trading provision is made for traders who wish to trade anywhere at any time.