Reason for this visit

Despite being in a small scale, New Zealand's forex market is relatively efficient, with gradually declining spreads trading. The comparatively low intraday trading volume in the market is largely made during the London and New York session. Forex brokers in New Zealand are required to be licensed and regulated by the central bank, which demands that brokers should provide adequate risk disclosure and investor education. In recent years, smaller local brokers have faced competitive pressure from foreign brokers, with the rapid development of trading automation and mobile trading. In order to help investors or practitioners have a more comprehensive understanding of the country's forex brokers, WikiFX survey team is going to New Zealand for on-site visits to local companies.

On-site visit

In this issue, the survey team went to New Zealand to visit forex broker PFD (licensee: Pacific Financial Derivatives Limited) as planned according to its regulatory address that 12-26 Swanson Street, Level 8, Auckland Central, Auckland, 1010, New Zealand.

On September 20th, 2023, the investigators came to 12-26 Swanson Street in Auckland CBD in the North Island of New Zealand, where a building featuring an old facade was situated, just 70 meters away from Queen Street.

After entering the building without a directory, the survey personnel spotted a reception area where there was no staff. And no security guard was seen at the entrance of the lift.

And then the survey personnel reached the 8th floor by elevator, and saw Pacific Financial Derivatives Limited and its logo at an office which was closed with no staff. Through the transparent glass wall, it could be seen that there were two rooms, some desks and chairs, and a flag printed PFD and logo.

Through an on-site investigation, it is confirmed that PFD has a physical presence at the place.

Conclusion

The survey team went to New Zealand to visit forex broker PFD as scheduled, and found the companys name at its regulatory address. This indicates that the broker has a physical business office at the location. Meanwhile, investors are advised to make a sensible decision based on a comprehensive consideration.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.