Deposit Funds

Trading Accounts

Information about protecting your password

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.

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: admin@fxcm.ca.

Safeguard Your Password

Friedberg Direct is committed to ensuring the security of all our customers. With that goal in mind we offer 128-bit Secure Socket Layer password encryption, in conjunction with other security features built into our interface.

At the same time, the following tips would also help augment the inbuilt system security.

Safeguard Your Password. Most people will want to write the password on a piece of paper and place it right next to their computer or share their password with family or friends. Or worse, they will stick the password and username on their monitor. If you need to write it down, do so but shred it immediately after you are able to log in successfully.

Change Your Password Often. You may change your password at MyFXCM by selecting the "Forgot Password" link below the Login field. Your password will be emailed to you upon correctly answering your security question. It would therefore be prudent to regularly update your password to avoid a redundant, standard password being compromised.

Use a Strong Password. Passwords should be selected in a format that would not easily be compromised. Passwords must be at least 8 characters long, with at least one upper case letter, at least one lower case letter, and at least one number.

How Can I Avoid Creating a Bad Password?
Avoid passwords that would be easy for anyone to guess, such as:

  • Don't use any information pertaining to you: "your name", "phone number" or "social security number."
  • Don't use all numbers or "123456."
  • Don't use all letters or "abcdefg."
  • Don't use names of spouses, children, or pets.
  • Don't use any word that can be found in the dictionary.
  • Don't use your username as your password.
  • Diligence and Alacrity of Action. If you suspect that your password has been compromised, or that someone is trying to breach your account security, please contact us immediately so that we may also take the appropriate steps at our end to prevent any unauthorized access to your account. You may contact us via telephone at (888) 296-5012, or email us at admin@fxcm.ca.

Password protection: The Trader is obligated to keep passwords secret and to ensure that third parties do not obtain access to the trading facilities. The Trader will be liable to Friedberg Direct for trades executed by means of the Trader's password even if such use may be wrongful.

Bank Wire

CAD Deposits
Print
Bank: Bank of America, N.A.
Canada Branch
SWIFT Code: BOFACATT
Transit/Branch #: 56792
Financial Institution Code: 241
Beneficiary Friedberg Mercantile Group LTD
Beneficiary Address 181 Bay Street, Suite 250
Toronto, Ontario M5J 2T3
Beneficiary Bank Address 200 Front Street West
Toronto, Ontario, M5V 3L2
Beneficiary Account #: 49495203
REF: For Further Credit to Client's Name and Account Number
USD Deposits
Print
Bank: Bank of America
ABA # (Domestic): 026009593
SWIFT Code (Int'l): BOFAUS3N
Beneficiary Friedberg Mercantile Group LTD
Beneficiary Address 181 Bay Street, Suite 250
Toronto, Ontario M5J 2T3
Beneficiary Bank Address 150 Broadway
New York, NY 10038
Beneficiary Account #: 483037479823
REF: For Further Credit to Client's Name and Account Number

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 10,000 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.

Wire FAQs

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.

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 the Operations department at: admin@fxcm.ca.

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.