Friedberg Direct Account Type

Friedberg Direct offers a streamlined trading experience with a single type of CFD trading account available to all traders. This account operates under a commission-free model, where the broker primarily earns revenue from spreads. The minimum deposit required to open an account is CAD 250 or USD 250. Friedberg Direct provides access to a selection of 37 currency pairs, 522 equity CFDs, 29 commodities, and 16 index CFDs, totaling 648 trading instruments. Although the asset selection is adequate for most retail traders, it may not meet the needs of pure forex traders due to limited market coverage.

Friedberg Direct Broker Account Opening Process

The process to open a brokerage account with Friedberg Direct is straightforward but includes specific eligibility criteria. Here are the steps involved:

• Eligibility Requirements: New traders should ideally have savings exceeding CAD 25,000 and an annual income above CAD 25,000. However, these values are not strictly mandatory, as Friedberg Direct will consider all submitted data.

• Application Submission: Prospective clients can complete an online registration form that requires basic personal information.

• Verification: Account verification is in line with regulatory AML/KYC requirements. Traders must provide a copy of their ID and one proof of residency document. In some cases, Friedberg Direct may ask for a CAD 1 cheque for bank verification purposes.

• Deposit: After the account is approved, clients can fund their accounts using bank wires or credit/debit cards. The minimum deposit for Canadian dollar accounts is CAD 300, and for US dollar accounts, it is USD 250.

• Trading Access: Once the account is funded, traders can access the trading platforms available, including MT4 and MT5, to start trading.

Overall, Friedberg Direct provides a regulated and secure environment for trading, though the limited payment options and lengthy withdrawal times may be a consideration for potential clients.