When you upload a transfer fees with the Expense transfer fees turned on, the following two types of transactions are displayed in the list of transactions.
(1) Price × Transfer Fee Qty (Action="Transfer Fee") --> generates a loss
(2) A sell trade that sells (1) 's quantity for the market price (Action="Sell") --> generates a P&L
(2) is automatically generated when you upload (1). In the transaction details, it is flagged as follows.
The P&L for (2) is calculated as (selling price - book price)*quantity, therefore, depending on the book price, (2) would generate a profit. However, if you add the P&L for (1) and (2), you will see that a loss of (book price*quantity) is recorded.