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Important Notice

Account opening applications MUST be completed by the individual(s) who will own and trade the account. No other person, or employee of Friedberg Direct or FXCM or any other firm that you may have been referred to us by is permitted, under any circumstances, to complete the account opening application or agree to any Terms and Conditions, disclosures or confirm receipt of any regulatory disclosures or documents on your behalf. Please do not share your log in credentials with anyone or give over control of your computer or trading platform to any third party.

Friedberg Direct powered by FXCM technology does not provide any investment advice or recommendations. Any market recommendations, signals, algorithms, information and/or opinions procured from or provided by and/or distributed by any third party do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, or the recommendation to buy or sell, any transaction on behalf of Friedberg Direct powered by FXCM technology. Reliance on any such recommendations, signals, algorithms, information and/or opinions procured from or provided by and/or distributed by any third party is solely at your own discretion and Friedberg Direct powered by FXCM technology does not take any responsibility for the outcome of any actions or trades based on such reliance. This includes, but is not limited to, the MT4 and MT5 trading platforms and/or any other platforms utilized to trade on your Friedberg Direct powered by FXCM technology account(s). You should always seek independent advice from a professional financial advisor. Please be advised that you are solely responsible for assessing the merits and risks of any trade that you enter, and each trade entered into by you represents an independent decision. You are solely responsible for the trades you chose to enter into and their outcome.

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.

While there is no guarantee that an applicant will have their account application approved, it should be noted that in order to be considered for an account opening, an applicant must be comfortably able to afford to Risk and potentially Lose a minimum amount of $2,500 in trading. Otherwise, trading in an Order Execution Only environment with Friedberg Direct may not be suitable for you.

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.

IMPORTANT: Due to the developing Coronavirus (COVID-19) situation, we will be temporarily suspending the review/processing of all physically delivered supporting documents (ID, Proof of Residence, W8BEN, Client Acknowledgment Form, Cheques, Corporate Documents, etc.). Please submit all documents in digital format via MyFXCM. For additional verification, please refer to the other options available.

For information about Electronic signatures - please click here.

For Individual Account Holders:

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

Photo ID

A photocopy of a government issued photo ID, clearly indicating your date of birth. All documents that contain an expiration date must be valid, unless stated otherwise.

Examples of this include:

  • Passport
  • Driving license
  • Non-driver's ID

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 and must match the name and address on your account application, 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, may be partially obscured at your own discretion.

Examples of this include:

Utility Bills:

  • Gas
  • Water
  • Electric
  • Telephone

Tax Documents

  • GST Refund Letter
  • CRA Notice of assessment
  • Property Tax bill or assessments

Other

  • Current lease agreement
  • Home Insurance (entire policy)
  • Auto insurance (entire policy)

Please note that a separate Proof of Residence is still required even if the address on your government issued photo ID and bank statement/letter matches the residential address listed on your application.

Client Acknowledgment Form

If you apply for an account online, you will receive the Client Acknowledgement form which you are required to complete, physically sign and send via Email to us. For information about Electronic signatures - please click here. 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.

W-8BEN

Friedberg Direct requires all clients to fill in, physically sign and 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. For information about Electronic signatures - please click here.

Additional Identity Verification

Please choose ONE of the following options:

*Proof of residence and additional identity verification cannot be both financial statements.

Bank or Loan/Mortgage account statement
• Dated within the last three months and issued for the address indicated on the application (PO Boxes are not acceptable).
• Voided cheques, bank drafts and direct deposit forms are not acceptable.
Bank Letter
• Dated within the last three months and issued for the address indicated on the application (PO Boxes are not acceptable).
• The account number held at the bank must be listed.
• It must be signed, dated and stamped, listing the contact number of the bank's representative who issued the letter or the branch manager.

You can upload your documents to MyFXCM. Simply log in using the account number and password you provided on 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. Documents submitted by means of email will be processed generally within five (5) to seven (7) business days.

DOCUMENTATION FOR OTHER ACCOUNT TYPES:

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

Funding your account to begin trading

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

Friedberg Direct offers quick & secure funding options:

  • Credit & Debit Card
    The fastest way to fund your account. (USD and CAD)
  • Bank Wire
    In USD and CAD

To review all funding options and details, visit our Deposit Funds page.

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!

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

ACCOUNT TYPE (1K LOTS) USD CAD
Individual Account
Joint Account
$5,000 $5,000
Corporate Account
Partnership
Trust
LLC
$10,0001 $10,0001

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

Disclosure

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.

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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