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PFG Best Reviews

2011/12 PFG Best Reviews

May 1, 2011 - Apr 30, 2012

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Current Ratings

Very pleased with this broker. They say that it is all about results, but the service is excellent as well. On telephone a little arrogant, but actually every broker I have been with was arrogant. Results are great and in combination with their service and news provided to me, I can't make a single complaint. Personally I'd recomment this one.
- Reviewed by Anton, September 8, 2011. Rating = 8/10.

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2011/12 Ratings
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2010/11 PFG Best Reviews

May 1, 2010 - Apr 30, 2011

I have been trading with this FCM for about 5 months. Have had no problems with them. They covered the bases with me. The on-line system is good but needs getting used to. No problems taking out money. Trades are executed when done properly. The staff is helpful via phone. I try to stay away from day-trading. My capitalization is adequate and the tools are there on-line if I'm thinking about taking a trade but need more info. I really don't think there is a FCM out there that can be everything to everyone.
- Reviewed by Andy, January 11, 2011. Rating = 7/10.

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2010/11 PFG Forex Ratings
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2009/10 PFG Best Reviews

May 1, 2009 - Apr 30, 2010

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Current Ratings

DON'T EVER USE THIS BROKER ALL THE STORIES ARE TRUE: HORRIBLE CUSTOMER SERVICE Not to mention they have TERRIBLE spreads. They can hit up to 12 pips when markets get volatile.

I entered into a trade going the wrong way when news got released and my order got closed when my account hit zero. I asked them why they this happened and they said in order to prevent my account from being negative. I thought that's a good thing then.

~2 weeks later I have an order open taking a long position. After taking that huge loss earlier I was playing with .1 lot size account. I had taken a loss earlier and only had enough left to buy a .1 lot with a few dollars left over. The order closed when I only had 30% liquidating value left, which coincidentally was the highest point that the pair went in the wrong direction before going into over 100 pip profit for me. When I asked them what the hell happened because I was assuming that when it hit zero it was closed, that it now closed when it hit 30%. They said that MT4 is always 30%.

So I enquired into why the last time this happened that it didn't get closed until I had no money left. Here is the response:

Them: "I don't know."
Me: "Well here is the order number from when it happened: (order number)"
Them: "It would take me a few minutes just to pull up the order"

After a little more questioning the consensus was from him that he didn't want to waste a few minutes time to figure out why I had lost over $150 that should never have happened. The order size for that first big loss was a .7 lot. I can understand him not wanting to figure out the smaller .1 lot, but the fact that there was a 30% difference in when my orders got closed at different times is ridiculous. And the fact that they just didn't care probably because they realized there was a mistake and I'd get some money back out of them. And the fact that customer service told me 2 completely different things entirely makes me feel like they straight up robbed me the first time.

- Reviewed by axcend, October 28, 2009. Rating = 1/10.
Not a bad broker until there is a bad fill or a completelly screwd up execution of a more complex order. 3 problems in 5 months with PFG never admitting any wrong doing. Arrogant broker, more like bouncer attitude.
- Reviewed by Tomek, October 20, 2009. Rating = 2/10.
I like their platform very much but there spreads are terrible. GBPJPY is 9 pips. They are very expensive to use.
- Reviewed by Bob, August 3, 2009. Rating = 5/10.
I have been using PFG for the last 12 months now and I have had very little problems with them. When I request my money it is usually in my current account within 2-3 days max. There was only one time I have had an issue and it was over my stop when I got stopped out 2-3 pips before it hit its mark. Apart from that one incident all has been fine, support is excellent if you do not get in touch straight away someone will always get back to you. I personally would highly recommend them - I do not know much about slippagee as I trade the market well before and after news.
- Reviewed by sjj, June 22, 2009. Rating = 9/10.

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2009/10 PFG Forex Ratings
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2008/09 PFG Best Reviews

May 1, 2008 - Apr 30, 2009

I am in Canada. If you are in Canada, DO NOT deal with these people! They are not interested in your small investments and will only take your money and run anyway!!!

After extensive research and trading many demo accounts, I chose to deal with PFG and I opened a live account. They were nice enough initially, but I sensed that they were dancing around some issues. I decided to start with $500 USD. When I asked for funding instructions, they said that I could only wire transfer the funds and the information is on the website. I looked but the instructions were rather convoluted and didn't seem to be straight forward. So I contacted them and asked for more simple instructions. Three different responses all pointed me to the same set of instructions. Seems to me that these are very young people who can only cut and paste "links" and don't have any real experience or CARE about what they put the client through!

I printed funding instructions directly from their website and took them to a Royal bank branch (as this was the bank mentioned on the website). The bank told me that they needed an ADDRESS for the beneficiary which was missing(!) from the page. Also told me to go to my own bank to do this. So I went home and printed their address (Chicago) and went back to my own bank to do a direct wire transfer. The lady there looked at the info and having 20 years of experiene in her job, told me that this wire might bounce back as the info are incomplete! I told her to plug in as much info as possible and it should go through. Well, guess WHAT?! It bounced and I lost $57 to send and get back my own money! Furious and frustrated I contacted PFG and their stance (surprise surprise) is that I made a mistake and my bank made a mistake. The broker in charge of my account asked me to fax him all the documents I had regarding the unsuccessful wire transfer, so I did it TWICE, but he never discussed them with me, as if they never existed!!! He never offered a resolution other than TRY AGAIN!!!

I asked for specific instructions and whether I can mail them a cheque or a money order. They said that wire was the ONLY way to fund my account, so I asked them to provide me with a sample of a successful wire transfer from Canada that I can learn from. I got silence and nothing but silence from them.

Checked with two other major banks and they BOTH told me that the instructions were complicated, unclear and insufficient and they could not possibly send funds with those instructions!

I am so happy that my loss was limited to $57. I am so happy that I didn't get further involved with this SCAM of a company. Could you imagine what it could be like if I had actually MADE profits there and attempted a withdrawal?! They are quite excellent in ignoring what you say and not addressing your concerns. I say with absolute confidence: SCAM SCAM SCAM!!!

If anybody wants verification and proof regarding this, email me: hawkman@look.ca

- Reviewed by Hawkman, February 4, 2009. Rating = 1/10
NOT EVEN A REAL BROKER. They are a non clearing FCM who clears through other FCMS. Essentially just a large IB.
- Reviewed by Leroy, September 6, 2008. No Rating.

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2008/09 PFG Forex Ratings
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2007/08 PFG Forex Reviews

May 1, 2007 - Apr 30, 2008

I set up a new account with these guys and after I wired my funds into the account it was dowhill all the way from there on. The Platform was setup and was showing my account balance and within 15 minutes I was booted out of the system...I called and all of the sudden my balance was zero $0.00 and I hadnt even made a trade yet .....they keep telling me they are trying to get with accounting to find out whats going on but I still dont have an answer as to where my funds are???? What's up with this place?????
- Reviewed by Michael, January 23, 2008. Rating = 1/10
Accounting department couldn't resolve my account problems. When I went to make a withdrawal it became even worse. Charting software good but online feed was down at peak times making trading impossible. Probably not the worst but accounting department not helpful to say the least.
- Reviewed by remym, May 16, 2007. Rating = 3/10

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2007/08 PFG Forex Ratings
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