What is the inactivity fee?
A trader will be charged a dormancy account administrative fee every calendar year if there is no trading activity in a 12 month period preceding the charge date. Trading Activity for this purpose is defined as the client (or authorised party) placing a new Trade or maintaining an open Trade.
When will I be charged the inactivity fee?
Clients whose accounts have been inactive for 12 consecutive months will be charged on the date indicated via email.
How will I be charged?
The fee of up to 50 units of the currency your account is denominated in or the balance of your account, whichever is less, will be debited from your account.
My account is locked. Will I be charged on it?
Inactive locked accounts may be charged too. Please contact Friedberg Direct powered by FXCM technology's customer support for further information.
Please note: Your account will be closed if your account balance falls to zero and maintains a zero balance for six consecutive months.
I have more than 1 account with Friedberg Direct powered by FXCM technology. Will I be charged on all?
Inactivity fee is charged per account. If you have active and inactive accounts, you will need to conduct activity on the inactive accounts to avoid fees.
How can I avoid the fee?
You may avoid the fee by completing one of the following actions before the deadline indicated via email:
- Place a Trade by logging into the trading platform Trading Station
- Withdraw all funds by logging in to MyFXCM and request a withdrawal and/or close your account
Please note: If you request a withdrawal via bank wire, please make sure your wire instructions on file are correct and up to date.
Forgot your log in credentials? You can retrieve/reset this information online at MyFXCM by clicking on the "Forgot Login/Password?"
Why can't I withdraw via MyFXCM?
Only clients whose accounts are Live and Tradeable are able to withdraw using the MyFXCM portal. If your account is locked and/or the Withdraw Option is not available in MyFXCM, please request your withdrawal by emailing email@example.com from the email address on file and provide us with specific instructions to process your withdrawal (including your banking information).
How long will it take for Friedberg Direct powered by FXCM technology to process my withdrawal?
Withdrawal requests will be processed within 3-4 business days. After Friedberg Direct powered by FXCM technology processes a withdrawal, it could take several more days for the funds to arrive to a client's bank account.