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Any one got experience with this broker called PFG? It was highly recommended by the Woodies Club. I tried to surf their web page and here are some of the things I learn about them:
1) Their charge commission and have a lower pip spread
2) The software e.g. Best Direct Navigator required a monthly subscription.
But the problem woth this webpage is that they never list down their commission, their pip spread and the monthly subscription clearly and when I asked the person n charge, he simply gave a "ultra" brief answer to my question.
The reason why I want to find out more information of them is that I want to look for a broker that is reliable and have the lower pip spread (e.g. EUR/USD 2pips, GBP/USD 3pips and JPY/USD 2pips and etc).
Any one got experience with this broker called PFG? It was highly recommended by the Woodies Club. I tried to surf their web page and here are some of the things I learn about them:
1) Their charge commission and have a lower pip spread
2) The software e.g. Best Direct Navigator required a monthly subscription.
But the problem woth this webpage is that they never list down their commission, their pip spread and the monthly subscription clearly and when I asked the person n charge, he simply gave a "ultra" brief answer to my question.
The reason why I want to find out more information of them is that I want to look for a broker that is reliable and have the lower pip spread (e.g. EUR/USD 2pips, GBP/USD 3pips and JPY/USD 2pips and etc).
Of course, don't mix up this PGF with PfgFx, they are different!
Regards
yyc196,
PFG is a very stable FCM and not just a typical broker. I still use them for some of my emini trading activities along with AMP Futures. Their level of services in futures trading is satisfactory to me. As far as commission, you would have to negotiate that with one of their brokers. Their Chicago home office will not give you a specific rate. I believe that with forex they go through either GTS or Currenex.
PFG is a very stable FCM and not just a typical broker. I still use them for some of my emini trading activities along with AMP Futures. Their level of services in futures trading is satisfactory to me. As far as commission, you would have to negotiate that with one of their brokers. Their Chicago home office will not give you a specific rate. I believe that with forex they go through either GTS or Currenex.
I hope this is helpful.
ENJOY!
fxcruiser
Hi fxcruiser,
Very much appreciate your sharing on PFG, I think much of your experience with PFG come from futures trading. However, if possible I am looking for more information on the Forex especially in term of the charges that will ultimatly made on the clients for instances:
1) Commission - They had yet gave me a proper reply.
2) Pip Spread - Though pip spread is not everything a trader should look into yet it is an essential part for people who scalp.
3) Software - Until now, I still trying to know how much they charge for the software. If you look out in the forex market, many broker provides good and user friendly platform for free if you opened an account with them. I don't see a reason why I need to pay for such a high price to maintain the software, even paying lower monthly subscription is still a burden. BTW, can I trade without a platform chart, I just need a quotes board to execute my trade???
All in all, after summing up all these costs you will realise how heavy is it for new trader like me to maintain an account with this company.
Therefore, I would appreciate if other trader who had the experience could explain these questions for me.
Very much appreciate your sharing on PFG, I think much of your experience with PFG come from futures trading. However, if possible I am looking for more information on the Forex especially in term of the charges that will ultimatly made on the clients for instances:
1) Commission - They had yet gave me a proper reply.
2) Pip Spread - Though pip spread is not everything a trader should look into yet it is an essential part for people who scalp.
3) Software - Until now, I still trying to know how much they charge for the software. If you look out in the forex market, many broker provides good and user friendly platform for free if you opened an account with them. I don't see a reason why I need to pay for such a high price to maintain the software, even paying lower monthly subscription is still a burden. BTW, can I trade without a platform chart, I just need a quotes board to execute my trade???
All in all, after summing up all these costs you will realise how heavy is it for new trader like me to maintain an account with this company.
Therefore, I would appreciate if other trader who had the experience could explain these questions for me.
Please and thanks.
If you are really concern about the cost of doing business, i.e. pip spread, commissions, etc., my suggestion is to look at MB Trading which also uses Currenex [from what I understand] or other ECNs, where you will get more specifics on commissions and no platform fee. The platform fee alone will save you at least around $600.00 a year. I would think that you will still be using MT4 for charting, am I right?
If you are really concern about the cost of doing business, i.e. pip spread, commissions, etc., my suggestion is to look at MB Trading which also uses Currenex [from what I understand] or other ECNs, where you will get more specifics on commissions and no platform fee. The platform fee alone will save you at least around $600.00 a year. I would think that you will still be using MT4 for charting, am I right?
ENJOY!
fxcruiser
Hi fxcruiser,
Thanks for your advise, I appreciate that. Actually I am currently testing out an demo account with MBT, but i realised that the ultimate charge on cable is around 4 pips (roundtrip) after summing up the pip spread and the commission charged by them. That is the reason why when someone highly recommended PFG I want to explore into it and see how competitive are these company offering.
FYI, I had a live account with GFT before but after a few month I decided to close it. So now you may see that I am a bit careful and "picky" about the pro and con on each broker or ECN providers. The process of researching is troublesome and takes a lot of time and effort. But I believe that once I position myself correctly on a right brokers and with my good trading strategy I will have more confident in my trading career.
This is the far most unpofessional broker I ever come accross.
I had an account with PFG a few months ago and has been facing many problem. I apply for a ECN trading with them and their services are crap, not only that they charge commission, they also have a 8 pips spread during normal time (not during or around report / news release period). I spoke to the broker in charge "Hayley" (a well known "know nothing" broker) and highlighted to her many issues pretaining to the platform PFG is having, but nothing was done.
I was very upset and finally requested for a close of my account and asked them to transfer the funds to other broker around 14 Nov 2008. To further confirm my account is clear, I have double check the pending order and the active order to see if I left anything behind e.g. OCO status and etc. Guess what they did? They opened a postion 3 days later and keep quiet. They even told me that the account department is closing my account and asked me to wait. It has been two weeks I have waited and yet my account still not close. Hayley just sit on it and did not follow up the outstanding issue. Finally I find something fishy and complain to Hayley's manager and found out that the opened position had lost 174pips!!!!!!!!!!
Of course they deny it and asked me close the position myself before they are willing to close the account and refund my money. The latest email from PFG informed me that the account has been closed but then I had incur a heavy loss of 174pips. Is that the practise of forex trading in US?
I told my trading friends that due to this incident I need a few month to release my stress. PFG, you are the most sucks broker I ever come across.
You can choose to believe my story here or not, I wish you all good luck if you trade with PFG.
This is the far most unpofessional broker I ever come accross.
I had an account with PFG a few months ago and has been facing many problem. I apply for a ECN trading with them and their services are crap, not only that they charge commission, they also have a 8 pips spread during normal time (not during or around report / news release period). I spoke to the broker in charge "Hayley" (a well known "know nothing" broker) and highlighted to her many issues pretaining to the platform PFG is having, but nothing was done.
I was very upset and finally requested for a close of my account and asked them to transfer the funds to other broker around 14 Nov 2008. To further confirm my account is clear, I have double check the pending order and the active order to see if I left anything behind e.g. OCO status and etc. Guess what they did? They opened a postion 3 days later and keep quiet. They even told me that the account department is closing my account and asked me to wait. It has been two weeks I have waited and yet my account still not close. Hayley just sit on it and did not follow up the outstanding issue. Finally I find something fishy and complain to Hayley's manager and found out that the opened position had lost 174pips!!!!!!!!!!
Of course they deny it and asked me close the position myself before they are willing to close the account and refund my money. The latest email from PFG informed me that the account has been closed but then I had incur a heavy loss of 174pips. Is that the practise of forex trading in US?
I told my trading friends that due to this incident I need a few month to release my stress. PFG, you are the most sucks broker I ever come across.
You can choose to believe my story here or not, I wish you all good luck if you trade with PFG.
dear yyc196. i was about to have account with PFG. but i have been impressed with your issue. can you tell more about this? what was the end of story? can you give me advice about some broker that will be good for future trading?
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