CREDIT & DEBIT CARD (USD and CAD)
$20,000 MAX per calendar month.
Debit/Credit Card: The Debit/Credit link above will reroute you to MyFXCM.com. Debit & Credit transactions via MyFXCM.com may be instantly available to you in your Friedberg Direct trading account. All live clients have access to MyFXCM through their live account login details. This is the same login that is used to access the Trading Station platform.
BANK WIRE (USD and CAD)
REVIEW THE FXCM BANK ACCOUNT DETAILS BY VISITING MyFXCM.com. THEN, TRANSFER YOUR FUNDS FROM YOUR BANK, EITHER IN PERSON OR FROM YOUR BANK'S ONLINE BANKING CENTER.
Bank wire deposits take approximately one to two business days (domestic) and three to five business days (international), often less, to arrive and process into your trading account.
CREDIT AND DEBIT FAQS
How much can I fund at one time via debit or credit card?
The minimum deposit amount is 50 of the account base currency. The maximum deposit amount is 20,000 of the account base currency within one calendar month. Please note that the account minimum for any new account is 5,000.
What is the withdrawal procedure when an account is funded by credit card?
Accounts funded via debit or credit card may be subjected to receiving withdrawals via the same debit or credit card.
Please note that the card used for funding will typically be the same card used to return fund to when a withdrawal is requested. Please contact Friedberg Direct immediately if the card used to fund is closed or if a different card number is re-issued. When requesting a withdrawal to a card, please consider if that card is closed or has been re-issued, if so, please choose an alternative method of withdrawal. Returning funds to closed account can cause a significant delay in receiving funds, and Friedberg Direct cannot guarantee a time frame in which funds will be received if the refund is initiated to a closed account
Will my credit card deposit be considered a cash advance?
Card deposits will appear on your card issuer's statement as a "purchase."
Will I receive a transaction receipt for my debit or credit card deposit?
Within minutes of making a deposit, an email containing your transaction information will be sent to the email address as indicated on the online deposit form.
My debit or credit card deposit was declined, but my card has been charged. What should I do?
If your card transaction was declined, the transaction should be lifted from your account normally within a few business days.
Will I be charged a fee for currency conversion?
All credit or debit card transactions are automatically converted to the base currency of your Friedberg Direct trading account. You may incur additional fees charged by your Debit/Credit card issuer for currency conversion.
Can I use my Visa Prepaid card or a Gift card to fund my Friedberg Direct account if my name appears on it and it has a Visa logo?
Please do not send funds using a Prepaid or Gift Card. The origin of funds using gift cards or prepaid cards cannot be verified and therefore are not accepted. Deposits received in this manner will be returned to the originating card.
What is considered a 'third party' deposit?
Deposits received from an account in a different name and/or held by someone other than the trading account holder constitutes a third party deposit. This also applies to corporate funds received for an individual account and similar scenarios.
Does FXCM accept third party deposits?
No. Third Party deposits violate FXCM's Anti-Money Laundering policies and as such FXCM cannot accept any payments via a third party. Should third party funds be received, FXCM may ask for supporting documentation such as a Wire Confirmation and/or Bank statement in order to prove ownership.
We can neither guarantee the receipt nor the return of such payments.
To whom should the wire be sent?
Wire transfers should be sent to Friedberg Mercantile Group LTD.
How long will it take for my wire to arrive?
Domestic wires take anywhere from one to two business days to arrive. International wires arrive in three to five business days.
How long will it take for a wire deposit to appear in my trading account?
Wire transfers will be deposited into your trading account generally within one business day after receipt at our bank
May I send a wire drawn on someone else's account?
No. Friedberg Direct may neither make nor receive any payment via a third party. We can neither guarantee the receipt nor the return of such payments.
Can I send wire transfers in foreign currency?
Friedberg Direct accepts funds in USD and CAD. If you send foreign currency to our USD or CAD bank accounts, the bank will automatically convert the deposit to US dollars or Canadian dollars (depending on the denomination of the account funds are sent to) at an exchange rate specified by them, which will not necessarily be favorable.
Account Management Forms
To manage your account, please login to MyFXCM, your account management portal. The request(s) will typically be processed within 2 days of receipt. In order to avoid any delays please review your information carefully before submittal. Friedberg Direct assumes no liability for errors or inaccuracies made by the account holder.
DEPOSITS AND WITHDRAWALS
How do I deposit funds?
Both new and existing clients may deposit funds online. New account holders will receive a permanent account number after the initial deposit is processed. Accounts may be funded via Bank Wire and Debit/Credit Card. Please allow for approximately one to two business days (domestic) and three to five business days (international), often less, for funds to arrive and process into your trading account.
Please note the time frames above are approximate. In some cases, delays in processing may occur (although this is not common). There are no administrative fees from Friedberg Direct to deposit funds.
Note: Friedberg Direct cannot guarantee exchange rates for deposits not made in the currency denomination of the account. If you do not plan to wire funds in the denomination of your desired trading account, please contact Operations at: [email protected].
Note: Friedberg Direct only accepts funds from account holders. Friedberg Direct cannot accept funds until a complete application and supporting documentation is received and processed.
NO CASH Deposits or Internal Transfers: Please DO NOT initiate internal transfers or submit branch deposits (cash or check deposits) directly into our bank accounts. Friedberg Direct can neither guarantee the receipt nor the return of cash deposits made at a bank branch. Deposits that are made directly into our bank accounts arrive with insufficient information, which will cause a significant delay in the allocation of funds to your trading account. Branch deposits may be held by Friedberg Direct for up to thirty days or longer before being released as part of our due diligence process.
No Third Party payments: Friedberg Direct does not accept funds for any trading account via a third party. We can neither guarantee the receipt, nor the return of such payments. Please keep in mind that restrictions on third party payments are set by banks and Canadian authorities, which have developed extensive procedures, regulations, and laws to stop the transfer of illegal funds, commonly known as money laundering.