TD Direct Investing has overhauled its mobile offering with the official launch of the new TD Easy Trade app, a move clearly aimed at reclaiming younger investors from fintech rivals like Toronto-based Wealthsimple. The new app was updated earlier this month but today marks the official launch.
The new platform features a modern interface and removes traditional barriers to entry. Users can now open an account and start trading with as little as $1 through a TFSA, FHSA, RRSP, or cash account. There are no account fees and no minimum balances required, while 100 commission-free trades per year are available for Canadian and U.S. stocks and ETFs.
A key highlight of the app is the inclusion of partial share trading, allowing clients to buy into expensive stocks without needing to purchase a full share. TD has also eliminated account fees and minimum balance requirements for this platform.
The shift toward a simplified, mobile-first experience is backed by internal research showing that while 71% of Gen Z already use direct investing platforms, many still lack confidence due to complex industry jargon.
“At its core, this launch is about making investing feel more human,” said Paul Clark, Group Head, Wealth Management and TD Insurance in a statement on Tuesday. “The new TD Easy Trade app reflects how we are continuing to evolve the investing experience for our clients in TD Wealth — making it easier to start investing, more supportive as your confidence builds, and designed to grow with you over time.”
The move to no minimum balances and account fees plus 100 free trades looks to mimic the success of Wealthsimple (sign up here and get $25 free), which offers unlimited $0 trades and also zero fees and no minimum balances. The regular TD WebBroker platform has standard trades at $9.99, depending on your account.
Beyond the digital tools and market news, the app provides access to human support 24 hours a day, Monday to Friday. The revamped TD Easy Trade app is available now on the App Store and Google Play.
Want to see more of our stories on Google?
P.S. Want to keep this site truly independent? Support us by buying us a beer, treating us to a coffee, or shopping through Amazon here. Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent Canadian media!
It’s too late…..
Too little too late. Good riddance TD.
Wealthsimple just got cash deposits. That was the last reason to be at TD.