Regulatory Disclosures

Performance of Friedberg Direct powered by FXCM technology

Retail Customer Forex/CFD Accounts Residing in the Province of Québec

                                                       2020                   2020                   2020                  2021

                                                    Quarter 2            Quarter 3            Quarter 4           Quarter 1

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Number of Accounts                                 281                         296                         293                         343

 

% Profitable                                               38%                        35%                        37%                        26%

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% Unprofitable                                          62%                        65%                        63%                        74%

Performance of Friedberg Direct powered by AvaTrade technology

Retail Customer Forex/CFD Accounts Residing in the Province of Québec

                                                       2020                   2020                   2020                  2021

                                                    Quarter 2            Quarter 3            Quarter 4           Quarter 1

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Number of Accounts                                 265                         249                         300                         375

 

% Profitable                                               35%                        33%                        38%                        30%

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% Unprofitable                                          65%                        67%                        62%                        70%

Required disclosures per Quebec AMF:

Legal status:

The date and place where the entity obtained its legal status (e.g., place of incorporation, place where partnership agreement was filed or where entity was formed:

(a) Date (YYYY/MM/DD): June 10, 2003 (b) Place: Canada (c) Statute under which the entity applying for qualification obtained legal status: Canada Business Corporations Act (the “CBCA”). 

Brief overview of the activities of the entity: Friedberg is currently registered as an investment dealer trading in Securities, Options & Futures Contracts and Future Contracts Options in each of the provinces and territories of Canada, and is a member of the Investment Industry Regulatory Organization of Canada (“IIROC”). In the province of Quebec, it is also registered as a derivatives dealer pursuant to the Derivatives Act (Quebec) (the “QDA”). In the province of Ontario, it is also registered as Futures Commission Merchant pursuant to The Commodity Futures Act (Ontario) (the “CFAO”). Finally, it is registered as dealer (Future Commission Merchant) in Manitoba pursuant to The Commodity Futures Act (Manitoba) (the “CFAM”). Friedberg provides a wide range of financial and investment services to retail and institutional clients. Friedberg specializes in managing money in non-traditional asset classes and currently (directly or through its wholly-owned subsidiary entity Friedberg Advisors LP) manages in excess of $400 million in assets. Through its execution-only division operating under the name of “Friedberg Direct”, Friedberg offers direct access to Quebec retail investors to spot foreign currency, currency options and commodity futures trading through dynamic, on-line trading platforms. Through its electronic platforms (the “Platforms”), Friedberg (through Friedberg Direct) offers contracts for difference and over-the-counter foreign exchange contracts (collectively, “CFDs”). On October 14, 2011, the Ontario Securities Commission (the “OSC”), on its own behalf and on behalf of the securities regulatory authorities of British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Labrador, Prince-Edward Island and each of the Canadian territories (the “Jurisdictions”), granted the officers, directors and representatives of Friedberg an exemption from the prospectus requirement in respect of the distribution of CFDs to investors resident in the Jurisdictions. The decision document includes conditions which are as attached as Appendix 11(a). On December 14, 2011, the Autorité des marchés financiers (the “AMF”) granted Friedberg an exemption from the qualification obligation set forth at the first paragraph of section 82 of the QDA with respect to the distribution of CFDs to investors in Quebec. The decision document includes conditions which are as attached as Appendix 11(b). Derivatives offered to Quebec residents are authorized by the Quebec AMF.

Regulation and Oversight:

IIROC and, among the provincial securities regulators, the OSC is the principal regulator as the registered and head office of Friedberg is in Toronto, Ontario. 

Friedberg is currently registered as an investment dealer trading in Securities, Options & Futures Contracts and Future Contracts Options in each of the provinces and territories of Canada, and is a member of IIROC. In the province of Quebec, it is also registered as a derivatives dealer pursuant to the QDA. In the province of Ontario, it is also registered as Futures Commission Merchant pursuant to the CFAO. Finally, it is registered as dealer (Future Commission Merchant) in Manitoba pursuant to the CFAM.

The name of any self-regulatory organization of which the entity is a member; IIROC.

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High Risk Investment Warning: 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 in excess of your deposit 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. Please read our Full Risk Warnings.

Please note the information on this website is primarily intended for retail customers.

 

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. Friedberg Mercantile Group Ltd. is headquartered at 220 Bay St., Suite 600, Toronto, ON M5J 2W4, Canada.

​Accounts are opened with and are held by Friedberg Direct which clears trades through:

 

For Friedberg Direct powered by FXCM technology:   a subsidiary within the FXCM group of companies (collectively, the "FXCM Group"). Customers of Friedberg Direct may, in part, be serviced through subsidiaries within the FXCM Group. The FXCM Group does not own or control any part of Friedberg Direct and is headquartered 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.

 

For Friedberg Direct powered by AvaTrade technology:   a subsidiary within the AvaTrade group of companies (collectively, the "AvaTrade Group"). Customers of Friedberg Direct may, in part, be serviced through subsidiaries within the AvaTrade Group. The AvaTrade Group does not own or control any part of Friedberg Direct and is headquartered at 1 Five Lamps Place, Amiens Street, Dublin, Ireland.

 

​* The trading desk opens on Sundays between 5:00 PM ET and 5:15 PM ET. The trading desk closes on Fridays at 4:55 PM ET. Please note that orders placed prior may be filled until 5:00 p.m. ET and that traders placing trades between 4:55 p.m. and 5:00 p.m. may be unable to cancel orders pending execution.

 

​§ Friedberg Direct’s liquidity providers include global banks, financial institutions, prime brokers and other market makers.

Derivatives offered to Quebec residents are authorized by the Quebec AMF.

© Copyright 2020 by Friedberg Direct. All rights reserved.

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