Cookies are used at this website. By continuing to browse it, you agree with our Cookie Policy.

Friedberg Direct review and ratings

Established 2007
Location Canada
Regulation IIROC
Offices Toronto
Broker type STP
Leverage up to 1:50
Deposit from 100 CAD
Spreads mid  mid
Platforms Web MetaTrader 4 Specific
Instruments Currencies Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards

Company information

Friedberg Direct is a forex broker located in Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

Availability

Friedberg Direct accepts clients from Canada.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for FX trading.

35+ Currency Pairs Based on major and minor world currencies.
12 Indice CFDs Based on baskets of different blue-chip stocks and US Dollar Index.
5 Metal CFDs Based on Gold, Silver, Palladium, Platinum and Copper.
5 Energy CFDs Based on Crude Oil (WTI, Brent), Heating Oil, Gasoline and Natural Gas.
7 Soft CFDs Based on Coffee, Cocoa, Corn, Cotton, Soybean, Sugar and Wheat.
2 Bond Futures Based on German and Japanese government securities.
60+ Stock CFDs Based on shares of US, UK and EU companies.

Forex broker offers the following underlying assets for Vanilla Options trading.

40+ Currency Pairs Based on major and minor world currencies.
2 Metal Options Based on Gold and Silver.

Comprehensive review

Friedberg Direct is a Canadian forex & CFD broker regulated by the Investment Industry Regulatory Organization of Canada (IIROC), under the company Friedberg Mercantile Group Ltd. The IIROC is a private self-regulatory organization, which has been granted the authority to oversee the financial services industry in Canada on behalf of the government.

A unique thing about Friedberg Direct is that this is a forex broker that exclusively provides services to Canadian residents.

Friedberg offers its clients traditional forex trading in close to 40 popular currency pairs, as well as CFD trading in stock indices, various commodities, Japanese & European government bonds, and a range of single stocks from American, British, and EU-based companies.

In addition to these instruments, Friedberg also offers options trading in the forex market. These options - also known as vanilla options - are available on more than 40 of the most traded currency pairs, as well as on gold and silver.

The spreads on these instruments are generally quite competitive, although perhaps not the lowest in the industry. Unfortunately, however, trading leverage is limited to just 1:50 for the most liquid assets, in accordance with Canadian regulations. Although this may be sufficient for many traders, it is far lower than the 1:500 leverage that is commonly offered by brokers in for example Australia and New Zealand.

For options trading, Friedberg provides a dedicated options trading platform known as AvaOptions. This platform is made for trading on Windows computers as well as on Apple and Android mobile devices.

For regular forex and CFD trading, Friedberg Direct offers the choice between using the MetaTrader 4 or 5 (MT4/MT5) platform, either as the traditional desktop-based version or as a web-based platform. Although these platforms are both quite a few years old by now, they have remained popular in the trading community for the huge selection of custom indicators and trading algorithms that can be found in them.

Once signed up with the broker, Friedberg’s clients will have to get their accounts verified by submitting three documents electronically: copy of a valid ID (Canadian government-issued ID or foreign passport), proof of residential address (copy of utility bill with full name and address, issued in the last 3 months), W-8BEN form (to certify that you are not a US person for tax purposes), and a bank or credit card statement.

Depositing money into trading accounts with Friedberg is a hassle-free process, although the only two payment methods that are accepted are bank wire transfers and major credit & debit cards. Cryptocurrencies and e-wallet services are, in other words, not accepted here.

Friedberg’s customer service team can be reached 24 hours a day on all trading days via phone or email. In addition, live chat with customer support agents is available in English, Arabic, French, German, Italian, Portoguese, Russian, Spanish, and Turkish at specified times during weekdays.

In conclusion, we consider Friedberg to be a good forex broker, especially for Canadian residents. It is well-known that Canadian citizens - along with US citizens - are often not welcome as clients with foreign forex brokers, which makes it even more important with good brokers at home. With Friedberg, such a broker now exists as a fully regulated alternative for Canadian forex, CFD, and options traders.

No reviews from traders yet.
Rating