FXCM moved fast to establish a Canadian offering to be able to attract former MF Global’s Canadian clients. FXCM which offered its Trading Station II platform through MF Global Canada now partnered with Friedberg Direct forming the FXCM Canada joint venture. According to Canadian law Canadian clients must trade with local brokers only – very similar to CFTC’s requirement regarding US clients.
Forex Magnates already broke this news back in November 2011.
FXCM Canada was created to allow Canadian residents access to FXCM’s suite of products, including its award-winning platform and No Dealing Desk forex execution, while maintaining their accounts with a regulated Canadian firm. All accounts are held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC). Friedberg is also a member of the Canadian Investor Protection Fund (CIPF), so all FXCM Canada accounts are protected by the CIPF for up to $1 million. The Friedberg Group of Companies, founded in 1971, is headquartered in the financial district of Toronto and manages over $2 billion in assets.
FXCM Canada Offers Canadian Residents:
- Faster Trading with a New Online Web Platform!
- FXCM Canada offers the Trading Station platform in both a desktop and web browser format. Try them both today with a free forex demo. Sign Up for a Demo Account
- Free Access to DailyFX PLUS
Whether you are looking for live instructor education, automated trading signals, or proprietary positioning data, DailyFX PLUS has the tools you need to get an edge in forex trading.
Friedberg Mercantile Group is a member of the Investment Industry Regulatory Organization of Canada (IIROC). Accounts with FXCM Canada are protected up to $1 million through the Canadian Investor Protection Fund (CIPF).
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To sign up for an account with FXCM Canada, please click here: http://www.fxcm.ca/open-forex-account.jsp.
About FXCM Inc.
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
At the heart of FXCM’s client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
About Friedberg Direct
Friedberg Direct is a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF), and all Canadian exchanges.
Accounts opened through FXCM Canada are held by Friedberg Direct. FXCM Canada clears trades through a subsidiary of FXCM Inc., a publicly traded company listed on the New York Stock Exchange (NYSE: FXCM). Customers of FXCM Canada may, in part, be serviced through subsidiaries of FXCM Inc. FXCM Inc does not own or control any part of Friedberg Direct.
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 of some or all of your initial investment 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. Read full risk disclaimer.