You cannot open a TD Ameritrade account in Canada unless you are an American or have US citizenship. So, if you are a Canadian citizen, you cannot open account with this US stock broker.
One of the largest online brokers in the United States, TD Ameritrade, has a variety of platforms geared at traders with various degrees of experience.
TD Ameritrade offers a full-service brokerage experience that caters to the needs of both new investors still learning the ropes and advanced day traders taking positions in a variety of asset classes.
It offers $0 commissions on trades, top-of-the-line educational programming, enhanced trading platforms, and a user-friendly mobile app.
If you are a Canadian citizen, you cannot open an account with this US stock broker. However, there is a trading platform known as "Thinkorswim" i.e. powered by TD Ameritrade that is designed to trade in US stocks and options. Being a Canadian, you can have access to this Thinkorswim and its essential tools and features subject to few conditions.
Firstly, don't confuse it with TD Ameritrade. TD Direct Investing (by TD Bank) and TD Ameritrade are two separate entities.
TD Direct Investing is a great alternative for Canadians who want to build a TD Ameritrade account. TD Direct Investing is a well-liked trading platform for trading stocks, ETFs, and mutual funds.
Many investors are drawn to the organization since it was the first online broker in Canada and because it is associated with a reputable bank (TD Bank).
With other non-bank brokerages emerging, the costs and general platform aren't necessarily as advantageous as some of the more contemporary companies.
Due to its flat rates, TD Direct Investing is more expensive than other low-cost platforms.
For Canadian & U.S. Stocks: $9.99 flat
For Canadian & U.S. Options: $9.99 + $1.25 per contract
If your account balance is less than $15,000, TD Direct Investing also levies a monthly maintenance fee of $25 per quarter in addition to trading expenses.
Maintaining a greater balance or making three or more commission-driven trades in the previous quarter are some of the best options for avoiding the cost.
Questrade offers a standard Self Directed Investing platform, one of the company’s most popular accounts. Taking charge and creating your own portfolio is easy and inexpensive.
The ability for Canadian investors to purchase American equities at a reasonable price through Questrade is one of the most alluring features. Investors have access to the NYSE and NASDAQ exchanges.
A US-denominated RRSP was first provided by Questrade. Investors are now able to fill their accounts with US dollars and even purchase stocks and ETFs without paying additional fees associated with currency conversion.
Stocks can be purchased for as little as $.01 per share, with fees ranging from $4.95 to $9.95. ETFs can be bought for nothing, and only fees apply when you sell them. The selling price is $.01 per share, with fees starting at $4.95 and going up to $9.95. Trading in options carries a fixed fee of $9.95 plus $1 per contract.
TD Ameritrade is a popular and one of the biggest stock brokers in United States of America. But, you can surely find a whole lot of good and safe alternatives in Canada to meet your investing needs.
Which Canadian stock broker do you prefer? Have you opened a brokerage account or planning to do so? Feel free to share your queries and feedback.
TD Ameritrade is a platform for American investors, offering a number of very alluring options, but Canadians aren't completely left out; they can sign up with TD Direct Investing, one of Canada's first online brokerages, which is also a good option.
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