Let other traders know if this service is worth checking or should be avoided.
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Nov 4, 2017,
I a'm an active trader with Friedberg Direct Canada for a couple of years now. I personally have not had a problem depositing or withdrawing my funds. They've been very quick with me. I also have not had a problem with their support for the couple of times I've used them. No frills just a meat and potatoes straight through broker.
Mar 8, 2017,
Canadian Margin regulations suck, that's not Friedburgs fault. Their customer service was previously good... unknown now.
The two anonymous posters don't seem to understand that their frustrations come from Canadian Forex regulation. Rating a company poorly because they comply with the law from their jurisdiction doesn't make sense.
I'm interested in their dependability from a review.
Their trustworthiness and customer complaints.
I have limited exposure to this company and therefor did not provide a star rating. I have only used this company while they were headquartered in the USA. The person in charge of my account was based out of LA and he was top notch. Never had any issues with their customer service. But my accounts have always been in Canada. They helped walk me through all the ridiculous mind numbingly complicated Canadian margin requirement laws referenced by the two posters who were formerly using FXCMUK.
Mar 23, 2016,
Like another poster I was forced to use this company because FXCM uk dumped their canadian clients. The margin requirements are disgusting to say the least and after a couple of losses I was told my account was going to be disabled and I could no longer make future deposits unless I sent them all my bank information. If you are looking for a canadian forex broker, steer clear from friedberg direct. FXCM should seriously rethink dealing with these scammers.
Feb 3, 2014,
Having been forced to use this company because FXCM would no longer support Canadian traders using any other platform (I traded on the UK platform with FXCM) I will say their support seems decent.
When it comes to trading this company is basically the Canadian FXCM version. The one big noticeable difference is the fact they require a maintenance margin over and above the regular margin used to trade. So for example if you trade the GBP/USD using 1 mini lot of 10K, be prepared to set aside $890 in margin. Hard to take after having a $90 margin requirement on the old UK platform. Anybody with a small account will need to trade micro lots and will take a long time to move forward and grow your account.
Apr 1, 2010,
After having Forex Accounts with two other Canadian Firms ... Friedberg Direct ... alias Friedberg Mercantile (Futures division) is by far the most upfront and reliable Forex service provider that I've had an Account with yet. If you happen to be a professional Trader and are looking for a secure company to hold your Trading Account of between $10,000.00 to $100,000.00 ... look no further. Friedberg's has a history of being one of the oldest and most reliable Trading firms in Canada and has just recently opened the door to the Forex arena for their many clients.pyaf