how do you say ' my friend,is benim arkadaş, arkadaşim,or,,,,,,,,,something else??

i think the best way is "arkadaşım"..

thats what i thought but have had conflicting opinions which could put one in an embarrasing situation if you get my drift

you can say benim arkadaşım but the benim is not necessary as the ım ending shows possession.