Unfortunately, TD Ameritrade is not available in Canada at this time.
Various options for Canadians are available through TD Direct Investing.
Alternatives to TD Ameritrade for Canadians
Founded in 1978, Interactive Brokers is an global brokerage that offers low-fee trading on a variety of different security types.
- Access to a variety of tools to research stocks and conduct market analysis
- Low fees, particularly for high-frequency traders
- The platform is harder to navigate and takes some time to learn
Questrade is a Canadian company that offers an easy-to-use platform perfect for both experienced and amateur investors. With a tiered pricing structure, Questrade users can pick a plan to best meet their trading goals.
- Free purchases for ETFs
- Easy to navigate mobile and desktop platform
- Minimum account balance of $1,000 is required to trade.
TD Direct Investing offers safe, secure, and reliable trading through their WebBroker, Advanced Dashboard, thinkorswim and TD app platforms.
- A well-known and trusted Canadian bank
- Easy setup, especially for existing TD customers
- Higher trading fees compared to discount brokerage platforms
While TD Ameritrade is not available in Canada, several alternatives are available.
Three platforms that offer similar features to TD Ameritrade are Interactive Brokers, Questrade, and TD Direct Investing.
Interactive Brokers is a brokerage platform that offers Canadians the ability to trade stocks, ETFs, options, and a variety of other securities at a low cost.
A platform that is ideal for experienced investors, Interactive Brokers provides access to markets from around the world.
The company operates globally, with a client base in over 200 countries.
The platform offers a fixed pricing structure ($0.005 per share, with a minimum of $1 and a maximum of 1% of the trade value) as well as a tiered one $0.0035 per share, which drops to $0.0005 after the first 300,000 shares).
Signing up for the platform gives traders access to a variety of different tools to look at complex trading patterns and assist in stock analysis.
The company also recently launched its GlobalAnalyst tool that helps traders analyze data to find undervalued stocks from markets around the world.
Questrade offers a trading platform that is great for Canadian investors.
With the ability to open a range of registered and non-registered accounts, Questrade allows flexibility to meet different financial goals.
Questrade offers low trading fees, ranging from $4.95 to $9.99 per trade on stocks.
ETFs can be purchased for free, and selling follows a similar pricing structure as stocks.
For active traders, Questrade offers even lower fees on higher volume trades.
A great feature is the ability to hold US dollars in Questrade accounts.
This allows users to easily buy and sell US equities with no conversion fees or other associated costs.
TD Direct Investing
TD Direct Investing is the brokerage arm of TD Bank offering secure, fast, and reliable trading.
The brokerage is trusted by both new and existing customers of Toronto-Dominion Bank and offers the WebBroker, Advanced Dashboard, thinkorswim and TD app as platforms to trade.
Compared to discount brokerages, trading platforms operated by big banks will charge slightly higher fees.
TD Direct Investing is no different, with a $9.99 flat rate on all trades.
The platform also charges a $25 maintenance fee for accounts with less than $15,000.
The platform offers a range of registered and non-registered account types.
These accounts can be managed through both the desktop applications as well as a mobile application, all of which have good user reviews.
To touch on thinkorswim, it is actually a TD Ameritrade platform that is available to Canadians.
TD had stopped offering it to new Canadian customers for a period time.
As of 2022, thinkorswim is available to new and existing Canadian customers.
Will TD Ameritrade Be Available to Canadians in the Future?
There are currently no plans to bring TD Ameritrade into Canada.
After selling off their American operations, TD Bank still operates a brokerage platform in Canada under name of TD Direct Investing.
What Is TD Ameritrade?
The company started out in 1971, making it one of the oldest brokerage firms in North America.
Originally known as Ameritrade, the company eventually rebranded into TD Ameritrade after buying out Toronto-Dominion Bank’s American brokerage business.
More recently, the company was acquired by Charles Schwab in 2020, operating as a subsidiary and not changing its name
TD Ameritrade also offers users options for gaining exposure to the cryptocurrency market.
While trading of individual cryptocurrencies is not an option, traders can access OTC Trusts, Mutual Funds and ETFs, and Bitcoin futures through the TD Ameritrade platform.
Frequently Asked Questions
- Is TD Ameritrade available in Canada?
No, TD Ameritrade is not available in Canada.
- Is TD Ameritrade the same as TD Direct Investing?
No, the two platforms are different. While TD Bank did originally operate in the United States, its operations were acquired in 2016 and rebranded. Since then, the Ameritrade and Direct Investing platforms have operated separately.