Open a Trading Account

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Important Notice

Friedberg Direct will only conduct business with a client for whom it considers such business to be appropriate and in assessing appropriateness, will rely on the information provided by the client in his/her/their application form. For this reason, it is essential that you immediately advise us in writing if there is subsequently an adverse change in the information you have provided.

Please ensure you read, understand and agree to the following before submitting your application:

  • SUBMIT YOUR APPLICATION

    An Online Trading Application takes about 15 minutes to complete.

    Apply Online
  • SUPPORTING DOCUMENTATION

    Review the documentation needed to complete your account setup.

  • FUNDING YOUR ACCOUNT

    Click here for the funding options available to get started with your trading.

STEP 2: SUPPORTING DOCUMENTATION

We recommend that you send your documents to our New Accounts department within 24 hours of your online application submission. The following documents may be requested in accordance with your account type.

FOR INDIVIDUAL AND JOINT ACCOUNT HOLDERS:

Friedberg Direct requires a copy of the following for each named account holder:

  1. Photo ID

    A photocopy of one form of a non-expired, government issued photo ID. Your identification must clearly indicate your date of birth. All documents that contain an expiration date must be valid, unless stated otherwise.

    Examples of this include a:
    • Passport
    • Driving license
    • Non-driver's ID
  2. Proof of Residence

    A proof of residence dated within six months for the address indicated on the application (PO Boxes are not acceptable).

    Please note that we are unable to accept any statement or bill that has not been received in its entirety. Information such as the billing name and address must be visible, as well as the company that has issued the bill. Your document must not be folded. Payment stubs are not acceptable, as they display limited information. Confidential information, such as an account number(s), may be removed at your own discretion.

    Examples of this include a:
    • Gas bill
    • Electric bill
    • Telephone bill
    • Mortgage bill
    • Credit card statement
    • Current lease agreement

    You may upload your documents to www.MyFXCM.com. Simply log in using the account number and password emailed to you upon completion of the application. Documents submitted through the MyFXCM portal will be processed generally within one (1) to two (2) business days. If you are unable to log in, you may send a digital version of your documents via email to admin@fxcm.ca or fax your documents to +1 877 229 0004. Documents submitted by means of email or fax will be processed generally within five (5) to seven (7) business days.

    Please note that a separate Proof of Residence is not required if the address on your government issued photo ID matches the residential address listed on your application.

  3. Client Acknowledgment Form

    If you apply for an account online, you will receive the Client Acknowledgement form which you are required to complete, sign and send via Fax or Email to us. The form ensures that you acknowledge and confirm that you have received pertinent account opening information, including the New Client Documentation Booklet.

    Complete the Client Acknowledgement Form here.

  4. W-8BEN

    Friedberg Direct requires all clients to submit a W-8BEN Form - Department of the Treasury Internal Revenue Service Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding. Fill out the W-BEN form here.

  5. Additional Verification

    Please choose ONE of the following options:

    1. Certified photo ID
      1. ID Certification Form must be included
      2. This will also satisfy the identification requirement listed above
    2. Bank letter (signed and dated with contact number of bank manager or signee)
    3. $1 cheque made payable to Friedberg Direct
    4. Fund your account with a USD wire deposit

    Click here for additional details.

Documentation for other Account Types:

For more information about the needed documentation for Corporate Entities and Partnerships, please click here.

FOR CORPORATE ENTITIES:

  1. Certificate of Incorporation for the business as evidence of business registration.
  2. Articles of Organization, or the comparable official document, indicating that the signers are members of the corporation and authorized to set up the Friedberg Direct account.
  3. Breakdown of Shares/Share Registry, (if any shareholder owns 10% or more of the entity, Friedberg Direct will require an identification card, proof of address, W-8BEN form, $1 Personal Cheque made payable to Friedberg Direct and a Client Acknowledgement Form from that individual(s)).
  4. A corporate cheque for $1, payable to "Friedberg Direct." (Mail check to: Attn: Friedberg Direct, 181 Bay Street, Suite 250, Toronto, Ontario M5J2T3).
  5. Corporate W-8BEN-E Form (must be signed by authorized trader).
  6. Proof of Active Status for Corporations that were registered at least 2 years earlier from the date of account application (tax filing, notice of assessment, or other similar corporate filing).

Note: If a corporation is a 10% shareholder of the corporation applying for the trading account, please provide Certificate of Incorporation for the business, Articles of Organization, Breakdown of Shares/Share Registry, and $1 Corporate Cheque made payable to Friedberg Direct.

FOR PARTNERSHIPS:

  1. Stamped and filed copy of the Partnership Agreement as evidence of business registration and signers are members of the partnership and authorized to set up the Friedberg Direct account.
  2. Proof of shareholders, partners or beneficiaries. If any shareholder owns 10% or more of the company, we will require a government-issued photo ID, proof of residence, W-8BEN form, $1 Personal Cheque made payable to Friedberg Direct and a Client Acknowledgement Form from that individual(s).
  3. A cheque from the partnership for $1 payable to "Friedberg Direct." (Mail check to: Attn: Friedberg Direct, 181 Bay Street, Suite 250, Toronto, Ontario M5J2T3).
  4. W-8BEN-E Form in the name of Partnership (must be signed by authorized trader).
  5. Proof of Active Status for partnerships that were registered at least 2 years earlier from the date of account application (tax filing, notice of assessment, or other similar partnership filing).

Note: If a corporation is a 10% shareholder of the partnership applying for the trading account, please provide Certificate of Incorporation for the business, Articles of Organization, Breakdown of Shares/Share Registry, and $1 Corporate Cheque made payable to Friedberg Direct.

We recommend submitting your documents as scanned images (JPG, GIF, DOC, or PDF—no password protection, please) via email to our New Accounts department at admin@fxcm.ca OR via fax to: (887) 229 0004.

STEP 3: FUNDING YOUR ACCOUNT TO BEGIN TRADING

We recommend that you fund your account after you've received an email confirmation that your account setup is complete.

Based on the selected currency, refer to the corresponding account type for the account deposit minimum:

Account Type (1K lots) Currency
  USD CAD
 Individual Account $5,000 $5,000
 Joint Account
 Corporate Account $10,000* $10,000*
 Partnership
 Trust
 LLC

To review all funding options and details, visit www.friedbergdirect.ca/depositing-funds.jsp.

Once funds arrive in the name of the account holder, a permanent username will be sent by email. Use this new permanent log-in information to access the FXCM Trading Station and begin trading your new account!

High Risk Investment Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss in excess of your deposit and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Please read our full risk warning.

* There is a one-time account processing fee of 100.00 CCY for the onboarding of corporate, trust, partnership and LLC accounts. This fee will be waived with an initial deposit of 10,000.00 CCY or greater.

Important Information: Please be sure to type or clearly print your email address on the New Account Agreement, as this will be the medium used to contact you following the receipt of the application.

Within 24 hours of the receipt of your application you will receive an email with an update on the status of your account. If we are unable to verify your identity the email will include details on how to complete your application.

Privacy Notice: Friedberg Direct will not disclose any information relating to you to others except (a) to the extent required by any applicable laws or regulations; (b) where there is a duty to the public to disclose; (c) where our interests require disclosure; (d) at your request or with your consent. For further information, please see our Privacy Policy.

Friedberg Direct takes strong measures to prevent identity theft and will report any instances of attempted identity theft, fraud or other criminal activities to the authorities.

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