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TD has launched a new mobile app called TD Easy Trade that is designed for those new to the game of stock trading.
The app promises to be easy to navigate and includes how-to education videos for those who are just getting started with investing.
According to a TD survey conducted for TD Easy Trade, three-quarters (74%) of Canadians surveyed believe they need experience before they start trading and investing, and 30% of Canadians have not traded or invested because they don’t think they have enough money to invest. TD Easy Trade was designed with this in mind to help new or less experienced investors, with all budgets get started with investing.
TD Easy Trade offers no minimum balance or monthly fees and a pricing structure of 50 commission-free stock trades per year, after which they cost $9.99 each. TD Easy trade also includes unlimited commission-free trading on all TD ETFs, as well as U.S. dollar accounts to avoid currency conversion costs. The built-in educational videos and resources on investing come from a team of licensed investment representatives who can answer questions as needed.
“Investors are looking for an easy and affordable way to invest, right from the palm of their hands,” says 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.”
In addition to 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, and U.S. dollar accounts to avoid currency conversion costs when buying/selling U.S. stocks, customers also get real-time quotes and market data, the ability to create and manage a watchlist of trending stocks and build investment plans that align with your goals, and support from a team of licensed investment representatives
“During the pandemic, we saw a significant increase in demand for online investing, with more people trying DIY investing from home, and for the first time,” Ierullo adds. “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.