If you are looking for a simple and convenient way to invest in stocks and ETFs, you might want to check out TD Easy Trade. It’s a mobile app from TD that lets you trade commission-free on TD ETFs and up to 50 free stock trades per year. In this review, we’ll dive deep into the features and how it works.
What is TD Easy Trade?
TD Easy Trade is a self-directed investing app that was launched in 2022 as a rebrand of TD Goal Assist. The app is designed to assist users with their investment and financial goals such as; saving for retirement, purchasing a home, or travelling the world. With the app, users can purchase and sell stocks from major North American exchanges and TD ETFs. Users can also create goals and monitor progress using the app’s built-in tools.
How does TD Easy Trade work?
To start using TD East Trade, click this link to create an account. Once an account is created, you can fund it by transferring money from your existing TD accounts or from other financial institutions. You can also set up automatic contributions to your account.
Once you have money in your account, you can start trading on the app. You can search for stocks or ETFs by name or symbol, or browse by category or theme. You can also view real-time quotes, charts, news, and analyst ratings for each security. When you are ready to buy or sell, you can place market or limit orders on the app.
You can also use the app to create and track your goals. You can enter how much money you want to save, how long you want to save for, and what kind of return you expect. The app will then show you how likely you are to achieve your goal based on your current portfolio and contributions. You can also adjust your goal settings and see how they affect your chances of success.
What are the fees and commissions?
One of the main advantages of TD Easy Trade is that it offers commission-free trades on all TD ETFs. This means you can buy and sell any of the ETFs offered by TD without paying any fees. This is a great way to diversify your portfolio and access different markets and sectors.
Another benefit of TD Easy Trade is that it gives you 50 free stock trades per year. This means you can buy and sell any stock listed on Canadian or US exchanges without paying any fees for the first 50 trades in a calendar year. After that, you will pay $9.99 per trade.
There are no account maintenance fees or minimum balance requirements for TD Easy Trade accounts. However, there may be other fees associated with certain transactions, such as currency conversion fees, wire transfer fees, or regulatory fees.
For a full breakdown of fees, click this link.
Pros of TD Easy Trade:
- Commission-free trades on TD ETFs
- 50 free stock trades per year
- No account maintenance fees or minimum balance requirements
- Easy-to-use mobile app with goal-setting and tracking features
- Access to thousands of stocks listed on Canadian and US exchanges
- Accounts hold both CAD and USD
- Free learning resources for new investors
Cons of TD Easy Trade:
- Only trade stocks and TD ETFs
- Pay $9.99 per trade after the first 50 trades (resets every year).
Is TD Easy Trade right for you?
Like Wealthsimple Trade, TD Easy Trade is a good option for beginner investors who want a simple and convenient way to invest in stocks and ETFs. Additionally, it’s a viable option for those looking to trade TD ETFs without paying commissions and want to take advantage of the 50 free stock trades.
However, TD Easy Trade may not be ideal for advanced investors who want access to more types of securities, such as mutual funds, options, or non-TD ETFs. It may also not be enough for investors who want more research tools and analysis or who need more account options.
