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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.

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.

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.

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 www.MyFXCM.com. For additional verification, please refer to the other options available.

For information about Electronic signatures - please click here.

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 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
  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, may be removed at your own discretion.

    Examples of this include:

    Utility Bills:
    • Gas
    • Water
    • Electric
    • Telephone
    Tax Documents:
    • GST Refund Letter
    • CRA Notice of assessment
    Other:
    • Current lease agreement
    • Auto insurance (entire policy)
  3. 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/$1 cheque matches the residential address listed on your application.

  4. 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.

  5. 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.

  6. Additional Verification

    Please choose ONE of the following options:

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

    1. 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).
    2. 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.
    3. $1 cheque made payable to "Friedberg Direct."
      • • Dated within the last three months.
      • • Must be drawn from a checking account in the applicant’s name.
      • • Voided cheques, bank drafts and direct deposit forms are not acceptable.
      • • It has to be physically mailed to: “Attn: Friedberg Direct, 181 Bay Street, Suite 250, Toronto, Ontario M5J2T3”. Once received, the funds will be donated to charity.

You can upload your documents to www.MyFXCM.com. 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.

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 a Government Issued Photo Identification, proof of address, W-8BEN form, Client Acknowledgement Form, and either a $1 Personal Cheque made payable to Friedberg Direct or original bank, loan/mortgage account statement – scanned or photographed.
  4. Additional Verification (one of the following):
    • A corporate cheque for $1 made payable to "Friedberg Direct." (Mail check to: Attn: Friedberg Direct, 181 Bay Street, Suite 250, Toronto, Ontario M5J2T3). ). The funds will be donated to charity.
    • USD wire deposit
  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 prior to the date of account application (tax filing, notice of assessment, or other similar corporate filing).
  7. Account Ownership and Activity Questionnaire. This form is available by clicking this link. Please be as detailed as possible in your responses, answer each question according to the instructions on the form and ensure the document is physically signed and dated.
  8. Legal Entity Identifier (LEI) Note: If you do not have a Legal Entity Identifier (LEI), please proceed to the GLEIF's website or the Ontario Securities Commission’s website for instructions on how to obtain one.

Note: If a corporation is a 10% or more shareholder of the corporation applying for the trading account, please also provide items 1-6 for that corporation.

FOR PARTNERSHIPS:

  1. Stamped and filed copy of the Partnership Agreement as evidence of business registration. The signers of the partnership must be members and authorized to set up the Friedberg Direct account.
  2. Proof of shareholders, partners and/or beneficiaries. If any shareholder owns 10% or more of the entity, Friedberg Direct will require a Government Issued Photo Identification, proof of address, W-8BEN form, Client Acknowledgement Form, and either a $1 Personal Cheque made payable to Friedberg Direct or original bank, loan/mortgage account statement – scanned or photographed.
  3. Additional Verification (one of the following):
    • A cheque from the partnership for $1 made payable to "Friedberg Direct." (Mail check to: Attn: Friedberg Direct, 181 Bay Street, Suite 250, Toronto, Ontario M5J2T3). The funds will be donated to charity.
    • USD wire deposit
  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 prior to the date of account application (tax filing, notice of assessment, or other similar partnership filing).
  6. Account Ownership and Activity Questionnaire. This form is available by clicking this link. Please be as detailed as possible in your responses, answer each question according to the instructions on the form and ensure the document is physically signed and dated.
  7. Legal Entity Identifier (LEI) Note: If you do not have a Legal Entity Identifier (LEI), please proceed to the GLEIF's website or the Ontario Securities Commission’s website for instructions on how to obtain one.

Note: If a corporation is a 10% shareholder of the partnership applying for the trading account, please provide items 1-6 from the Corporate Entities section.

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 MetaTrader 4 Platform 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.

Regulatory Documents: How IIROC Protects Investors, IIROC Complaints Brochure, CIPF Brochure, CIPF Coverage Policy

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