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PFG FX Review

  • #21
  • Feb 5, 2007 4:37am Feb 5, 2007 4:37am
Quoting PipStar
Your first post and within 3 weeks of opening your account, you have already WITHDRAWN money !!!!!!!!!!!! :surprised
everything possible in forex my friend
  • #22
  • Feb 6, 2007 4:23am Feb 6, 2007 4:23am
Quoting extrarm
everything possible in forex my friend
Yeah, right
  • #23
  • Feb 25, 2007 6:29am Feb 25, 2007 6:29am
Quoting sulz
Pfgfx is also an offshore company, like northfinance, only pfgfx is registered in British virgin islands. It's on their website.
There UK address is a popular serviced office address here.

They may, of course, share that building with the company providing virtual offices. However, do consider that they are Regulated by IFSC (British Virgin Islands) but are not listed at the BVI Financial Services Commission which is the only BVI financial regulator I know of.

IFSC does not in BVI exist as far as I know but they are popular initials for other financial regulators worldwide. I would be please to be proved wrong on any or all points. After all, their site looks great, doesn't it?

A company with a similar name does appear in the register above and of course there is a regulator with a similar name as well. And it is because of similarities in name - and other techniques - that successful boiler room frauds are perpertrated on thousands of people worldwide every year.

The title of this post is "Form your own opinion." Ladies and gentlemen, do your own due diligence.
Do not focus on making money; focus on protecting what you have.
  • #24
  • Feb 25, 2007 6:57am Feb 25, 2007 6:57am
Quoting mikhaildgreat
You Are right, I didnt find anything in their website about being a NFA member. will give them a call later today to investigate. If they are member of the NFA and they hold true to those rules they have stated above then they could just be the broker I am looking for.
I see you're here Mik. I value your opinion. Did you get round to calling them or even open an account?
Do not focus on making money; focus on protecting what you have.
  • #25
  • Feb 25, 2007 7:52am Feb 25, 2007 7:52am
U.S. CHARGES ELEVEN MEN IN $6.5 MILLION FOREIGN
EXCHANGE “BOILER ROOM” FRAUD


Funds raised from the investors at Holston, Young, Parker & Associates were not used to make investments in the forex market and went to bank accounts in Cyprus and Russia. More than 200 victim-investors were defrauded of approximately $6.5 million.

Funds sent to Pfgfx go to Cyprus which has a long history of Russian connected forex fraud with bank complicity and many boiler rooms still operate there. A close second to Spain IMO.

Form your own opinion. I'd love to be proved wrong. Perhaps somebody should direct Pfgx here to answer the points raised.
Do not focus on making money; focus on protecting what you have.
  • #26
  • Feb 25, 2007 7:57am Feb 25, 2007 7:57am
Address in Russia:
Radisson SAS Slavyanskaya Hotel,
Europe sq. 2,
Moscow, 121059

I hope it's the presidential suite.
Do not focus on making money; focus on protecting what you have.
  • #27
  • Feb 25, 2007 9:33am Feb 25, 2007 9:33am
Quoting Why Oh Why
I see you're here Mik. I value your opinion. Did you get round to calling them or even open an account?
Nope i didn't call them and I didn't open an account because of credibility concerns... But according to some they hold true to the no slippage thing...

-Mikhail
  • #28
  • Feb 25, 2007 1:46pm Feb 25, 2007 1:46pm
Quoting mikhaildgreat
Nope i didn't call them and I didn't open an account because of credibility concerns. Mikhail
Looking at the site it is, IMO, a classic scam. Pull in some with tiny deposits who will sing their praises and then start attracting serious money. They'll be around for a year or two then vanish as many before.
Do not focus on making money; focus on protecting what you have.
  • #29
  • Feb 27, 2007 4:47am Feb 27, 2007 4:47am
Quoting Why Oh Why
Looking at the site it is, IMO, a classic scam. Pull in some with tiny deposits who will sing their praises and then start attracting serious money. They'll be around for a year or two then vanish as many before.
Nice post. Actually i do agree with you for 101%
  • #30
  • Mar 7, 2007 5:13am Mar 7, 2007 5:13am
I've been trading with PFG since 2004. First this company seemed suspicious to me too, but in fact it works much better than other brokers (I've been trading with NF and GFT). It's much easier to deposit and to withdraw funds - so I'll recommend this broker to all of you
  • #31
  • Mar 7, 2007 5:28am Mar 7, 2007 5:28am
Quoting Why Oh Why
U.S. CHARGES ELEVEN MEN IN $6.5 MILLION FOREIGN
EXCHANGE “BOILER ROOM” FRAUD


Funds raised from the investors at Holston, Young, Parker & Associates were not used to make investments in the forex market and went to bank accounts in Cyprus and Russia. More than 200 victim-investors were defrauded of approximately $6.5 million.

Funds sent to Pfgfx go to Cyprus which has a long history of Russian connected forex fraud with bank complicity and many boiler rooms still operate there. A close second to Spain IMO.

Form your own opinion. I'd love to be proved wrong. Perhaps somebody should direct Pfgx here to answer the points raised.

By the way, I'm citizen of Russia and PFG FX is the most popular company here. I've investigated this company profile and it turned out to be that the British PFG was bought by Russian company and now the're totally regulated in Russia. By the way, North Finance and Fibo group are russian companies too. I didn't know that PFG FX is well known abroad!
  • #32
  • Mar 8, 2007 7:26am Mar 8, 2007 7:26am
They have some pretty high spreads in place - might be easy to withdrawl micro money....seems expensive with fees involved, has anyone tried withdrawling REAL cash profits....from a 100k account. Say a withdrawl of 4-5 figures????
Proper Prior Planning Prevents Piss Poor Performance
  • #33
  • Mar 8, 2007 9:20pm Mar 8, 2007 9:20pm
Ok so Ive been trying this company for a week or so now. Here is something to look at. This is a chart from 2 minutes ago (it is 9.20 pm central time) showing a price of 226.54. Now, the real price is 226.21 as you can see in the second chart taken from another account. I also checked other websites, and clearly the chart in PFG hasn't moved in over an hour. Now what is this? LOL Has anyone ever seen something like that? Also, other pairs are moving while the gbpjpy is stuck...
Attached Image
  • #34
  • Mar 8, 2007 9:20pm Mar 8, 2007 9:20pm
and here's the same chart, same time, different broker...
Attached Image
  • #35
  • Mar 8, 2007 9:46pm Mar 8, 2007 9:46pm
The charts have not updated for a couple of hours. My baby account has the same problem. The 5 min candle is from server time of 2:05 or 1:05 GMT. I phoned Moscow and they said it is fixed.
  • #36
  • Mar 8, 2007 9:57pm Mar 8, 2007 9:57pm
yes its fixed now, although the data from the chart is still missing. that could have been a really bad thing though, like you said it was frozen for a few hours.
  • #37
  • Mar 11, 2007 12:44am Mar 11, 2007 12:44am
Quoting FXRob
I've been trading with PFG since 2004. First this company seemed suspicious to me too, but in fact it works much better than other brokers (I've been trading with NF and GFT). It's much easier to deposit and to withdraw funds - so I'll recommend this broker to all of you
Have you taken money out Rob? Their web site sez they charge 1 % for the priveledge?
  • #38
  • Mar 19, 2007 10:53am Mar 19, 2007 10:53am
Quoting james275
Have you taken money out Rob? Their web site sez they charge 1 % for the priveledge?
Yes, I had. They say that it takes 3 biz days to withdraw money, but via e-gold I twice recieved money in an hour.
  • #39
  • Mar 20, 2007 9:52am Mar 20, 2007 9:52am
I didn't know about that! Everything seemed sound to me . I took care about their origins before, but now I gave up doing it cuz they're working very stable. I knew that russian company bought the british one... probably they forgot to take away the president's name
  • #40
  • Mar 20, 2007 3:07pm Mar 20, 2007 3:07pm
I have a micro account with them and was happy - especially as for a while about doubled my little account. But now and I don't know why they have removed their credit card funding option and only accept e-gold. I made an e-gold account today, but need to go to another company to fund, if I can? how long for this to process I don't know? And I am not sure how much they require as a minimum or who to use and I am not really interested in buying into gold at even a minimal investment.

I may end up going over to another broker because of this, especially if my account goes bust in the meantime, lol - won't have a choice then. Basically I am unable to easily add funds I need and I'm stuck with a couple of going badly trades that I'd like to hedge for a while rather than close at this point and my equity is dipped too low to hedge without adding a bit more money.

Oh well, live and learn.
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