like having to use one of their desktop trading platforms, which carries a high monthly fee) so I never utilized the accounts I opened with them. Are there better alternatives? Assuming a maxed out TFSA account, what’s the best allocation (tax-wise) for a TFSA – is it Canadian equities? :(. Is Your ETF About to Load Up on China A Shares? Option trading fees. On TD’s e-Series of funds, I wish TD would consider distributing their e-Series of funds through other brokers rather than only through TD Direct Investing or going through a complicated process of either: (a) going to a TD Canada Trust branch and opening an account with their standard, higher MER A-series of funds and then calling the TD mutual fund dealer call centre to “switch” them to the lower MER e-Series of funds or (b) going through their extensive “virtual” account opening process including sending in copies of one’s photo ID in addition to one’s initial deposit cheque. @Tyler: One additional difference is that NBDB still charges commissions on “US-listed” ETF purchases, whereas Questrade doesn’t.
Feel free to peruse their Commission and Fee Schedule. TD Direct’s standard rate is $9.99 per trade for any Canadian or US stock. Thank you very much for your article. The reason I have avoided HSBC InvestDirect and NBDB is their “external bank account authorization form” excludes TD Canada Trust and Tangerine bank accounts for some odd reason and they won’t tell me WHY when I e-mail them.
While TD Directing Investing is popular, its trading fees are not competitive when compared to many of the trading platforms on our list of the best trading platforms in Canada. If you are unsure whether your previous trades are being reflected in the remaining cash balance details, review the order status screen between trades, just to ensure that your trades are being successfully filled. However, I currently have about 25% of my allowable TFSA contribution room invested in REITs and I do this mainly because of the tax treatment of dividends and the more complicated recordkeeping in terms of having to track distributions over the long-term to calculate one’s adjusted cost base if “return of capital” is part of the distribution. Is this right? Are there any free tools or research available with TD Direct Investing accounts? Finally, in terms of “risk tolerance,” I can appreciate that short-term trading volatility is actually a long-term’s “friend” in providing potential buying opportunities and can tolerate a single-day decline of 20% in a single day without “flinching” or giving it a second thought, other than to take a “second look” at company or market fundamentals to determine if it would appropriate to further “average in” to a position. Justin Bender is the author of CPM Blog and a portfolio manager with PWL Capital Inc. in Toronto. With TDDI account is the minimum of $15000 to eliminate the quarterly fee of $25 the same for registered and non registered accounts?
There is one scenario in which TD Direct will charge a commission to buy, sell or switch mutual funds—if you hold one for less than a month. When it comes to retirement planning, the sooner you start, the more time your money has to grow. The maintenance fee is charged to TD Direct Investing accounts on a quarterly basis, in April, July, October and January. For household accounts below $15,000, TD Direct Investing will waive their $25 quarterly maintenance fee if you set-up a pre-authorized contribution of at least $100 per month. Any comments/suggestions are highly appreciated.
Past performance is not a guarantee of future results. Just transitioning from TD eseries to TD Direct Investing (soon). Our Cash product is offered by Wealthsimple Payments Inc., a money services business registered by FINTRAC.
You are in the introductory six months of an account which does not belong to a household or the first six months of the first account opened within your household. REIT’s ?
Like any other brokerage, TD Direct is legally required to disclose all of their fees, and if fee pamphlets excite you, we’re not going to kink shame you. If so, that’s great. So it looks like TD Direct Investing is subtracting the trading commission from the cash balance post-trade, resulting in an up-to-date cash balance figure (we can look at the BMO InvestorLine numbers when I post the video next week to compare). One of the most prominent of those robo-advisors is Stash, which creates curated portfolios and aims to be particularly accessible to absolute novice investors. Otherwise, moving to any bank-owned mutual fund dealer will result in higher overall portfolio MER. We’ve assembled it all here for you. Wealthsimple Crypto is made available through the Wealthsimple Trade app, but is offered by Wealthsimple Digital Assets Inc., a virtual currency dealer money services business authorized by FINTRAC. Your point about utilizing low-cost index mutual funds for small investors, TD e-Series being the preferred one, is a good one that I agree with wholeheartedly and a $15,000-25,000 “threshold” before converting to equivalent ETFs is probably one I’d agree with as well because of the administrative fee otherwise but also because of trading commissions. Fantastic.