Friedberg Direct review
About the company:
Friedberg Direct represents the FXCM Forex broker.
Company. Security of funds
Friedberg Direct offers online trading in several currency pairs and various CFDs, as well as futures and options through the trading platform. It is a No Dealing Desk (NDD) broker. Residents of Canada can only trade with brokers registered in the country. That's why Friedberg Direct, which is a member of the Canadian Investor Protection Fund, was opened.
Friedberg Direct is a branch office of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund and all Canadian exchanges. All accounts are insured for up to $1 million.
IIROC is the regulatory body that licenses all investment dealers and monitors trading activities in the debt and equity markets in Canada.
Friedberg Direct offers a single Forex trading account with a margin rate of 2%, variable spreads, NDD execution and micro lots trading.
Joint and corporate accounts are also available.
Unfortunately, the broker does not provide PAMM-payment services.
Accounts opened through FXCM Canada are owned by Friedberg Direct.
Minimum initial deposit
To open an account with Friedberg Direct, traders must invest at least $5,000.
This amount is relatively high for the market, but the broker has the licenses of authoritative regulators, which adds to confidence that the funds of traders are safe.
Spreads and commissions
Friedberg Direct provides with variable rate spreads, an average of 0.2 pips for EUR/USD. A commission fee of $10 is applied to each transaction (for both parties). Thus, the trading costs for this pair are from 1.0 to 1.5 pips.
The maximum level of leverage offered by Friedberg Direct is 1:50.
Nevertheless, the size of the leverage offered by Canadian brokers is generally lower. For example, up to 1:33.
Clients of Friedberg Direct can use the FXCM platforms:
Trading Station is easy to use, equipped with automated strategies, a powerful graphical package (Marketscope), some exclusive tools such as Good Till Date (which allows you to execute orders at certain times) and Real Volume.
The support service office is located in Toronto, Canada, which operates 24 hours a day.
Friedberg Direct offers the following withdrawal and depositing methods: bank transfer and credit/debit cards.
Friedberg Direct 1/10 (votes 2222)