Investing

Opening a DI account - HSBC or TD?

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Opening a DI account - HSBC or TD?

I am considering opening a DI account, debating between TD and HSBC. I will be able to waive the fees as I will be able to meet the requirements for both of them. I heard that with TD you can get the Presidents Account if you have more than 500k in there, is it still the same? What about HSBC? I already have Premier so I guess that won't affect me. One of the main factors for me will be how easy to use the site and to do research. Thanks!
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Nov 17, 2016
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I don't know about HSBC investing but TD is great. With 500k you get full LV2 streaming for free for TSX, TSXV, US stocks ($10/month each otherwise)
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Oct 21, 2014
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I have HSBC premier, it's $6.88/trade and there are no account fees as you already have premier. I wouldn't recommend HSBC at this point, I've been having a lot of trouble with customer service even with having a premier relationship adviser. I am moving my daugther's RESP with HSBC investment funds to investdirect from and it has taken over 2 months, several trips to the branch and it still hasn't been done properly, they're still crediting the old account with RESP matching funds even though it is supposed to be closed. It might not be worth the risk and headaches, this is not the first time I've had issues with them.
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Oct 7, 2007
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StevePos wrote: I don't know about HSBC investing but TD is great. With 500k you get full LV2 streaming for free for TSX, TSXV, US stocks ($10/month each otherwise)
Can you please elaborate on what this means? I'm a newbie when it comes to this stuff. :)
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Gungnir wrote: I have HSBC premier, it's $6.88/trade and there are no account fees as you already have premier. I wouldn't recommend HSBC at this point, I've been having a lot of trouble with customer service even with having a premier relationship adviser. I am moving my daugther's RESP with HSBC investment funds to investdirect from and it has taken over 2 months, several trips to the branch and it still hasn't been done properly, they're still crediting the old account with RESP matching funds even though it is supposed to be closed. It might not be worth the risk and headaches, this is not the first time I've had issues with them.
Thanks for the advice, TD DI it is.

I guess I can reconsider HSBC when I plan to buy into the HK market, just not now. Still has way lower to go over there.
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Oct 4, 2009
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choclover wrote: Can you please elaborate on what this means? I'm a newbie when it comes to this stuff. :)
He is suggesting that free streaming level 2 quotes on the Toronto Stock Exchange, Vancouver stock exchange and for US stocks(unspecified exchange) are available to everyone with a 500k account size. I’m not sure what the source of that info is, barring a recent change that is unlikely to be accurate unless other conditions are met.

Level 2 quotes allow you to see beyond the top bid and ask for a security and see down to other levels of liquidity. It is not all that useful for widely traded stocks but can be indispensable when trading in thin markets or when acquiring/liquidating large positions.
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Avoid Hsbc unless you plan to use that for premier qualification.

Hsbc had excellent support btw, just that their platform is rubbish. More on that, I felt they messed up reporting my taxes to CRA. On top, there are no real-time quotes and their platform is a wrapper on top of some other (national bank I think) brokerage.

In any case TD would be better place. If you intend to buy in HK in future, don’t bother with HSBC and go with interactive Brokers.
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bend3r wrote: Avoid Hsbc unless you plan to use that for premier qualification.

Hsbc had excellent support btw, just that their platform is rubbish. More on that, I felt they messed up reporting my taxes to CRA. On top, there are no real-time quotes and their platform is a wrapper on top of some other (national bank I think) brokerage.

In any case TD would be better place. If you intend to buy in HK in future, don’t bother with HSBC and go with interactive Brokers.
Thanks for the advice, +1. I already have Premier so that wont be a factor. In fact, HSBC has closed quite a few Premier accounts who used InvestDirect to qualify according to the HSBC Premier thread.
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angel_wing0 wrote: Thanks for the advice, +1. I already have Premier so that wont be a factor. In fact, HSBC has closed quite a few Premier accounts who used InvestDirect to qualify according to the HSBC Premier thread.
I'd like to learn more about this. I searched but didn't find anything. Can you point me to some comments showing that HSBC has closed Premier accts who used InvestDirect to qualify?
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (1.2%, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
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Mar 26, 2012
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angel_wing0 wrote: Thanks for the advice, +1. I already have Premier so that wont be a factor. In fact, HSBC has closed quite a few Premier accounts who used InvestDirect to qualify according to the HSBC Premier thread.
That is news to me too. HSBC's website shows that the Premier account and $500 bonus could be had for $100k+ deposit or $100k+TFSA into InvestDiirect. I wouldnt think HSBC would unilaterally go back its words by closing the Premier accounts.

I know the fine print says that the Premier acct has to be active for 1 year, and my HSBC Premier acct Relation Manager told me that being active means at least one debit in the account for the year.
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minimalist wrote:
I'd like to learn more about this. I searched but didn't find anything. Can you point me to some comments showing that HSBC has closed Premier accts who used InvestDirect to qualify?
fkungery wrote: That is news to me too. HSBC's website shows that the Premier account and $500 bonus could be had for $100k+ deposit or $100k+TFSA into InvestDiirect. I wouldnt think HSBC would unilaterally go back its words by closing the Premier accounts.

I know the fine print says that the Premier acct has to be active for 1 year, and my HSBC Premier acct Relation Manager told me that being active means at least one debit in the account for the year.
It was a few years ago, so you guys may not be as active here back then. Here is one example where they asked someone to close their InvestDirect account hence forcing him to close Premier, also notice how he mentions that HSBC has asked other people to close their Premier accounts:

https://forums.redflagdeals.com/hsbc-in ... t-2030483/

...but back to topic, submitted the application to open a TD DI account, looking forward to it.
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angel_wing0 wrote:

...but back to topic, submitted the application to open a TD DI account, looking forward to it.
Can you open up a TD DI account online or do you have to make an appointment?
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Jul 10, 2007
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Does the TDDI President's account still exist? I don't see it on their website. What other benefits are there?
[OP]
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profile wrote:


Can you open up a TD DI account online or do you have to make an appointment?
I believe you can open it online. I opened it at a branch as I was there to activate the ability to buy e-series funds via easyweb.

golfcraze wrote: Does the TDDI President's account still exist? I don't see it on their website. What other benefits are there?
td-waterhouse-presidents-account-comple ... e-1554097/

Not much really.
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angel_wing0 wrote: It was a few years ago, so you guys may not be as active here back then. Here is one example where they asked someone to close their InvestDirect account hence forcing him to close Premier, also notice how he mentions that HSBC has asked other people to close their Premier accounts:

hsbc-investdirect-asked-me-close-my-account-2030483/

...but back to topic, submitted the application to open a TD DI account, looking forward to it.
Wow! Very enlightening, thanks. Was thinking of qualifying for HSBC Jade but I think I'll pass now. HSBC seems like such a train wreck. I'm very happy with IB but was attracted to Jade MC. Already have HSBC WE MC and love the 3% on travel. But Jade has $200 TEC and those unlimited lounge visits. But HSBC and Investdirect seem like to much trouble to be worth it. I think I'll just churn those CC with lounge passes, Scotia Passport, BMO WE, etc.
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (1.2%, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
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Mar 26, 2012
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angel_wing0 wrote: Thanks +1ed! I assume you can only buy those through DI?
Yes, TD ETFs thru DI only. I thought you were thinking of opening a TD DI account?
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fkungery wrote: Yes, TD ETFs thru DI only. I thought you were thinking of opening a TD DI account?
Yip, I was just wondering if you can also buy through EasyWeb. In the case of DI, it doesnt have to be TD ETFs anyway...all other ETFs should be available.
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Mar 26, 2012
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angel_wing0 wrote: Yip, I was just wondering if you can also buy through EasyWeb. In the case of DI, it doesnt have to be TD ETFs anyway...all other ETFs should be available.
You can find out the answer quick by calling your local TD branch or TD Waterhouse.

Personally, I dont know for sure. On my easyweb page, it has all my TD accounts, (chequing, Cdn credit cards, US$ account on Cdn side, US$ on US side, US credit card, and all my DI registered and non registered accts). Therefore, I would think that if u buy a TD e-series fund by visiting a local TD branch, your investment would show up on your easyweb page, and therefore may be able to buy or sell on that page. For me, when I click on my TD Waterhouse account on the easyweb page, it takes me to the DI page, from which I can buy or sell stocks.

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