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Tricia54
Within 1 year

What are the disadvantages of using PFD?

Broker Issues
PFD
Regulation
05-11
United States
WikiFX
Reply

While there are a lot of positives about PFD, one of the disadvantages is that US traders are not allowed to use the platform, which is something that would make me reconsider if I were based in the US. Another con is the deposit fees, which can add up, especially if I’m making international transfers. For domestic customers, the deposit fee is 2.7% + NZ$0.30, and for international customers, it’s 3.7% + NZ$0.30. This means that, even though the minimum deposit is $0, I’d still be charged extra when making a deposit. I also noticed that PFD charges commission fees on certain accounts, which could eat into my profits over time. So while the platform is solid and regulated, I’d want to be mindful of these fees when using PFD trading for larger investments.

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