PFGFX Review

Overall, PFGFX is a  trustworthy and reliable broker that provides traders with great digital tools. When opening a live trading account with PFGFX, traders have access to leverage between 1:100 and 1:200 across all account types.

PFGFX at a Glance

PFGFX Review – 21 key points quick overview:

• WHO IS PFGFX?      
• SAFE OR SCAM
• PRO AND CONS
• LEVERAGE
• ACCOUNTS   
• MARKET INSTRUMENTS
• FEES
• DEPOSIT AND WITHDRAWAL
• TRADING PLATFORMS
• HOW TO OPEN AN ACCOUNT
• CUSTOMER SUPPORT
• EDUCATION       
• RESEARCH         
• AWARDS
• CONCLUSION  
• DISCLAIMER
• FAQs

 PFGFX Overview

According to research in South Africa, PFGFX has been in operation since 2000 and the brokerage was founded by a group of professional traders with the vision of offering other traders alternative ways of trading outside the Forex Market.

PFGFX is based in the UK but is not regulated or authorized by the FCA, as in the case with various other UK-based brokers. Traders are cautioned in considering such brokers to facilitate their trading activities as client fund security cannot be guaranteed.

PFGFX  Safety or Security

When choosing a broker, it is imperative that traders ensure that brokers are regulated and authorized only through reputable, well-known regulatory entities.

Traders need to take note that without the necessary regulations in place, client fund safety cannot be guaranteed and there are numerous risks involved when trading through non-regulated and off-shore companies.

Trade through such companies is not advised and not encouraged in any manner, traders will have to conduct thorough research into such companies along with reading trusted reviews of others who have traded through them to make an informed investment decision.

PFGFX Leverage

Leverage offered by brokers allows traders to open much larger positions against and despite their initial deposits. This increases the potential for profit, but it also increases the risk of incurring substantial losses that may exceed the trader’s initial deposit.

Brokers offer differing levels of leverage that may often be subjected to and restricted by the regulatory entity through which the broker is authorized and regulated. Influence can start from 1:1 and even go up to 1:2000.

Should the trader have access to leverage of, for instance, 1:30, and they have made a minimum deposit of $1,000, they can subsequently open positions to the value of $30,000.

When opening a live trading account with PFGFX, traders have access to leverage between 1:100 and 1:200 across all account types.

PFGFX Accounts 

There is no pre-existing information pertaining to the types of accounts that PFGFX offers or what precisely the account features such as spreads, commissions, minimum deposits, and more, maybe.

Each broker offers different trading conditions that appeal to and cater to different types of traders depending on their level of knowledge, skill, and experience along with different financial needs and limits.

Traders need to note that when trading financial instruments such as Forex, there are overnight, roll over, or swap fees involved when holding positions open for longer than a trading day.

Muslim traders who follow the Sharia law often have the option of converting their standard live trading account to an Islamic Account, which exempts them from paying such fees which are seen as a form of interest, which the Sharia law forbids.

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

PFGFX Market Instruments

Based on information derived from previous reviews on PFGFX, it is apparent that the broker only offers trade in Forex.

PFGFX Fees

There can be differentiated between two types of fees that traders can encounter when opening an account with PFGFX, these are trading and non-trading fees.

Trading fees are related to the costs when trades are executed while non-trading fees pertain to broker fees, which is how brokers make their money, such fees include commissions, spreads, margin requirements, and deposit and withdrawal fees, among others.

Spreads

The spread is the difference between the bid and the asking price of an instrument which can either be fixed, floating, or variable. Some brokers offer spreads that start from 0.0 pips, but traders will find that with such spreads, commission fees per trade are often charged.

Commissions

There is no information available on the types of commission charges that traders can expect when trading financial instruments through PFGFX.

Margin

The margin requirement is the balance that the trader must have when they open a position and this is calculated by the current price of the financial instrument weighted against the USD, the size or volume of the position, and the leverage which is applied.

Overnight fees

There is no information regarding PFGFX’s fees pertaining specifically to overnight fees, especially when considering that PFGFX seems to cater solely to trading in Forex.

Inactivity fees

Traders need to note that some brokers charge fees should their trading account be left dormant for a certain duration of time. This fee differs between brokers and traders will need to verify this information before opening a live trading account.

Deposit and Withdrawal Fees

Some brokers carry the costs when deposits to and withdrawals from the account are made and it can either be expressed as a fixed amount or as a certain percentage deducted from the total deposited or withdrawn.

There is no existing information that suggests that either deposit or withdrawal fees are charged, although some payment methods may incur some fees, normally charged by banking institutions pertaining to transaction costs, for instance, in the case of Bank Wire.

PFGFX Deposit and Withdrawal

There is no information on the payment options provided by PFGFX, but brokers often offer similar payment methods which mainly consist of:

Bank Wire Transfer

Credit/Debit Cards

Various e-Payments such as Skrill, and Neteller.

The processing times of both deposits and withdrawals will depend on the method used and it can be instant, or it may take up to 10 days, respectively.

There is no indication pertaining to the deposit currencies that are supported when deposits or withdrawals are made, but it can generally be accepted that popular and common currencies such as USD, GBP, and EUR will be accepted.

Traders should note that third-party deposits and withdrawals are prohibited and that withdrawals have to be made through the same method that was used when funds were deposited into the trading account.

PFGFX Trading Platforms

Trading platforms serve as the trading environment, or vehicle, through which transactions are executed and brokers may offer a variety of trading platforms, or they may rely on their own proprietary in-house trading platform which is tailored to their trading conditions.

Trading platforms differ in the same way that brokers differ, and not all trading platforms are designed to facilitate multi-asset trading, traders will therefore need to ensure that both the broker and trading platform can cater to their trading needs.

How to Open a PFGFX account step by step

The PFGFX website is not available, so it is unclear what the account opening process is, but a generalized approach can be used, as used with other brokers, and in addition, the same requirements will apply.

In order to register for a live account with PFGFX, traders will have to complete an online application that requires some basic personal information, contact information, and residential information.

Due to strict regulations, all traders who apply for an account will have to go through a “Know Your Client”, or KYC, process which involves the submitting of documents pertaining to proof of identity as well as proof of residence.

These documents will go through a verification process and once they have been approved, the trader will be able to fund their account with the minimum required deposit, and trading can commence.

PFGFX Customer Support

When evaluating brokers, this is one of the crucial factors that traders need to test so that they will have an idea of whether the broker caters sufficiently for client queries, especially should there be an emergency query.

PFGFX Education 

Educational tools and resources serve the purpose of helping traders, especially beginners, in learning about trading and trading specifically on the broker’s platform. These resources often incorporate a variety of tools and offer substantial support to traders.

As per previous reviews done on this broker, there is no education section provided by PFGFX and this broker would not be recommended for beginner traders based on the minimum deposit and the trading costs indicated.

PFGFX Research

Research platforms, support, and tools help traders in making trading decisions more efficiently as these tools provide them with vital information along with access to certain features which can be applied to the way in which they conduct trading.

PFGFX does not make any provision for research tools.

PFGFX Awards

There are no awards indicated for this broker.

PFGFX Pro and Cons

Conclusion

Overall, PFGFX is a  trustworthy and reliable broker that provides traders with great digital tools. When opening a live trading account with PFGFX, traders have access to leverage between 1:100 and 1:200 across all account types.

Disclaimer

PFGFX warns potential customers that Forex and CFD trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with PFGFX, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

PFGFX warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence PFGFX cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

Frequently Asked Questions

How many instruments can I trade with PFGFX?

It would appear that only Forex can be traded through this broker.

Which platforms are supported by PFGFX?

The only trading platform supported is the PFGFX Trader.

Does PFGFX offer leverage?

Yes, PFGFX offers maximum leverage of 1:200.

Does PFGFX charge a commission?

There is no information regarding the commission charges that traders can expect when using this broker to facilitate trades.

What is the overall rating out of 10 for PFGFX?

1/10