TORONTO – As more Canadians turn to online do-it-yourself (DIY) mobile trading, Toronto-Dominion Bank’s TD Direct Investing is launching a new mobile app for stock trading, TD Easy Trade. TD Easy Trade features a streamlined, easy-to-navigate design and integrated how-to education videos, making getting started easy for investors.
According to a TD survey conducted for TD Easy Trade, three-quarters (74 per cent) of Canadians surveyed believe they need experience before they start trading and investing, and 30 per cent of Canadians have not traded or invested because they do not think they have enough money to invest. TD Easy Trade was designed with this in mind making trading and investing simple to help new or less experienced investors, with all budgets, get started on their investing journey with confidence.
TD Easy Trade offers no minimum balance or monthly fees and a pricing structure of 50 commission-free stock trades per year. TD Easy trade also includes unlimited commission-free trading on all TD exchange-traded funds, as well as U.S.-dollar accounts to avoid currency conversion costs. TD Easy Trade also provides built-in educational videos and resources on investing for users and offers access to a team of licensed investment representatives ready to help and answer questions when needed.
“Investors are looking for an easy and affordable way to invest, right from the palm of their hands,” said Tony Ierullo, vice-president, new to investing and emerging investor solutions, TD Direct Investing. “With the TD Easy Trade mobile app, they will have the tools to start trading and investing with confidence. How individuals want to invest is changing and we couldn’t be more excited about being at the forefront in making investing accessible for all Canadians.”
TD Easy Trade includes the following stand-out features:
- 50 free stock trades per client, per year;
- Free trades on all 38 TD ETFs, including individual TD ETFs and TD One-Click ETF portfolios;
- U.S.-dollar accounts helping clients avoid currency conversion costs when buying/selling U.S. stocks;
- Real-time quotes and market data;
- Ability to create and manage a watchlist of trending stocks;
- Built-in educational videos and resources;
- Ability to build investment plans that align with your goals;
- Support from a team of licensed investment representatives.
When it comes to what is motivating investors to dip their toes in the market, long-term goals, trending stocks and fear of missing out ranked among key drivers. According to the TD survey, many still invest for long-term goals like retirement (51 per cent), while capitalizing on trending stocks (19 per cent) and fear of missing out (5 per cent) also play a role.
“During the pandemic, we saw a significant increase in demand for on-line investing, with more people trying DIY investing from home, and for the first time,” said Mr. Ierullo. “As a result, trades and new account openings hit record highs. This growth in new accounts and trading volumes was driven largely by new and younger investors, which is why it was important to us to launch an app that is easy to use, with low trading fees and available support to ensure investing is accessible to this emerging, fast-growing investing segment.”
TD Easy Trade is the evolution of TD GoalAssist, a service offered by TD Direct Investing that previously launched in October, 2020. TD Easy Trade offers an enhanced platform and improved user experience focused on making getting started easier for new and emerging investors. TD Easy Trade is the latest service offered by TD Direct Investing, Canada’s largest self-directed on-line brokerage, which also includes the organization’s most popular investing platform, WebBroker.
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the fifth-largest bank in North America by assets and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing and TD Insurance; U.S. retail, including TD Bank, America’s Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.) and an investment in the Charles Schwab Corp.; and wholesale banking, including TD Securities. TD also ranks among the world’s leading on-line financial services firms, with more than 15 million active on-line and mobile customers. TD had $1.7-trillion in assets on Oct. 31, 2021.